Invesaro

Stocks Comparison

Forward Air vs Hub: revenue, profit, margins and growth compared

Forward Air brought in $2.5B of revenue in fiscal 2025, Hub $3.9B in fiscal 2024. Revenue changed by +0.8% at Forward Air and -6.1% at Hub on the year before, so Forward Air grew faster. Forward Air kept -4.3% of its revenue as net profit, Hub 2.6%. Free cash flow was $15.3M at Forward Air and $143.6M at Hub.

Side by side, latest fiscal year

FWRDHUBG
Fiscal year endedFY2025 (December 31, 2025)FY2024 (December 31, 2024)
Revenue$2.5B$3.9B
Revenue growth+0.8%-6.1%
Net income-$107.8M$104M
Net margin-4.3%2.6%
Free cash flow$15.3M$143.6M
Free cash flow margin0.6%3.6%
Earnings per share (diluted)-$3.51$1.70
Cash$106M$98.2M
Debt$1.7B$264.4M
Price to earningsn/an/a
Market value$496.2Mn/a
Dividend yieldn/an/a
Rank by revenue in sector#201 of 451 · Industrials#142 of 451 · Industrials

Over the years

Revenue
FWRD FY2018: $1.1BFWRD FY2019: $1.2BFWRD FY2020: $1.3BFWRD FY2021: $1.4BFWRD FY2022: $1.7BFWRD FY2023: $1.4BFWRD FY2024: $2.5BFWRD FY2025: $2.5BHUBG FY2017: $4BHUBG FY2018: $3.7BHUBG FY2019: $3.7BHUBG FY2020: $3.5BHUBG FY2021: $4.2BHUBG FY2022: $5.3BHUBG FY2023: $4.2BHUBG FY2024: $3.9BFY17FY18FY19FY20FY21FY22FY23FY24FY25
FWRD $2.5BHUBG $3.9B
Net income
FWRD FY2018: $92.1MFWRD FY2019: $87.1MFWRD FY2020: $23.7MFWRD FY2021: $105.9MFWRD FY2022: $193.2MFWRD FY2023: $167.4MFWRD FY2024: -$817MFWRD FY2025: -$107.8MHUBG FY2017: $135.2MHUBG FY2018: $201.7MHUBG FY2019: $107.2MHUBG FY2020: $73.6MHUBG FY2021: $171.5MHUBG FY2022: $356.9MHUBG FY2023: $167.5MHUBG FY2024: $104MFY17FY18FY19FY20FY21FY22FY23FY24FY25
FWRD -$107.8MHUBG $104M
Net margin
FWRD FY2018: 8.1%FWRD FY2019: 7.2%FWRD FY2020: 1.9%FWRD FY2021: 7.6%FWRD FY2022: 11.5%FWRD FY2023: 12.2%FWRD FY2024: -33.0%FWRD FY2025: -4.3%HUBG FY2017: 3.3%HUBG FY2018: 5.5%HUBG FY2019: 2.9%HUBG FY2020: 2.1%HUBG FY2021: 4.1%HUBG FY2022: 6.7%HUBG FY2023: 4.0%HUBG FY2024: 2.6%FY17FY18FY19FY20FY21FY22FY23FY24FY25
FWRD -4.3%HUBG 2.6%
Revenue growth
FWRD FY2019: +6.8%FWRD FY2020: +4.5%FWRD FY2021: +9.3%FWRD FY2022: +21.1%FWRD FY2023: -18.4%FWRD FY2024: +80.5%FWRD FY2025: +0.8%HUBG FY2018: -8.7%HUBG FY2019: -0.4%HUBG FY2020: -4.7%HUBG FY2021: +21.1%HUBG FY2022: +26.2%HUBG FY2023: -21.3%HUBG FY2024: -6.1%FY18FY19FY20FY21FY22FY23FY24FY25
FWRD +0.8%HUBG -6.1%
Free cash flow
FWRD FY2018: $113MFWRD FY2019: $137MFWRD FY2020: $75.8MFWRD FY2021: $82.2MFWRD FY2022: $210.9MFWRD FY2023: $168.5MFWRD FY2024: -$106.1MFWRD FY2025: $15.3MHUBG FY2017: $50.7MHUBG FY2018: $11MHUBG FY2019: $159.7MHUBG FY2020: $59.6MHUBG FY2021: $119.9MHUBG FY2022: $239MHUBG FY2023: $282.1MHUBG FY2024: $143.6MFY17FY18FY19FY20FY21FY22FY23FY24FY25
FWRD $15.3MHUBG $143.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Forward Air and Hub

Which is bigger by revenue, Forward Air or Hub?

Hub is bigger by revenue: $3.9B in fiscal 2024, against $2.5B for Forward Air in fiscal 2025.

Which keeps more of its revenue as profit, Forward Air or Hub?

Forward Air had a net margin of -4.3% in fiscal 2025; Hub had 2.6% in fiscal 2024.

Which grew revenue faster, Forward Air or Hub?

In their latest fiscal years revenue changed by +0.8% at Forward Air and -6.1% at Hub.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

More comparisons

Compare more companies