Saturday 17 October 2026 Export FWRD’s income statement to Excel — free account

Forward Air Corporation

FWRD Industrials Integrated Freight & Logistics

Forward Air Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 0.84% from fiscal 2024. In the quarter to June 2026, revenue grew 8.76%, EPS fell 1,456.1%, free cash flow grew 59.4% and total debt fell 1.01%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

15.04 0.80 −5.05%

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Market cap: $535.1M
P/E: 0.0×
Fwd P/E: −5.5×
Dividend yield: —
F-score: 5/9
Altman Z: 0.95
Beneish M: −2.60
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Jun '26	Mar '26	Dec '25	Sep '25	Older periods
ROE Full definition →	(611.69%)	(52.38%)	(48.17%)	(39.08%)	+8 more TTM periods Free account
Piotroski F-Score Full definition →	5	6	5	4
ROA Full definition →	(11.07%)	(3.33%)	(3.90%)	(3.56%)
ROIC Full definition →	(7.28%)	1.93%	1.29%	4.04%
Return on Tangible Assets Full definition →	(68.76%)	(23.63%)	(27.60%)	(25.86%)
Average Days of Receivables Full definition →	54.44	49.45	51.16	49.91
Free Cash Flow per Share Full definition →	1.58	1.31	0.57	0.65
Free Cash Flow Full definition →	51.48	41.29	17.47	20.29
Capital Expenditures Full definition →	(19.36)	(21.21)	(26.91)	(23.58)
Other line items
Cash ROIC Full definition →	2.98%	2.09%	0.88%	0.98%
Accounts Receivable Turnover Full definition →	7.08	7.35	7.42	7.09
Accounts Payable Turnover Full definition →	10.93	11.56	11.12	8.97
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	33.90	30.44	35.14	36.02
Days of Inventory on Hand Full definition →	0.00	0.00	0.00	0.00
Tax Rate Full definition →	(0.02)	(0.16)	(0.04)	1.00
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	21.82%	23.00%	23.83%	24.52%
Share Based Compensation of Revenue Full definition →	0.39%	0.57%	0.54%	0.53%
Interest Coverage Full definition →	(0.95)	0.29	0.20	0.63
Operating CF/Net income Full definition →	(0.25)	(0.68)	(0.41)	(0.42)
Depreciation/Fixed assets Full definition →	1.45	0.54	0.51	0.23
Capex/Depreciation Full definition →	(0.05)	(0.14)	(0.18)	(0.33)
Revenue per Share Full definition →	77.52	78.28	81.23	80.61
Operating CF per Share Full definition →	2.18	1.99	1.44	1.42
Capex per Share Full definition →	(0.60)	(0.67)	(0.88)	(0.76)
Capex to Sales Full definition →	0.01	0.01	0.01	0.01

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Columns are period end dates

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