Forward AIR vs Radiant Logistics
Forward AIR is the larger business, with $2.50bn of revenue in fiscal 2025 against $934m for Radiant Logistics (2.7 times as much). Radiant Logistics grew faster (3.5% against 0.8%). Radiant Logistics kept more of each dollar of sales as profit: a net margin of 2.0% against -4.3%.
| Latest fiscal year | Forward AIRFWRD, 2025 | Radiant LogisticsRLGT, 2026 |
|---|---|---|
| Revenue | $2.50bn | $934m |
| Revenue growth | 0.8% | 3.5% |
| Net income | −$108m | $18.8m |
| Operating margin | — | — |
| Net margin | -4.3% | 2.0% |
| Return on equity | -68.4% | 8.0% |
| Free cash flow | $15.3m | $13.2m |
| Cash | $106m | $25.6m |
| Total debt | $1.69bn | $25.0m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $0 | $3.5m |
| Employees | 6,062 | 1,107 |
| Market value | $618m | $442m |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | 40 (Weak) | 63 (Moderate) |
| Insider trades, 12 months | 0 buys, 6 sales | 0 buys, 9 sales |