FWRD · Forward Air Corp
Market Cap
$556.71M
Shares
33.78M
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$2.5B
+0.8%
FY2025
Net Income
-$107.8M
+86.8%
FY2025
Gross Margin
48.75%
-3pp
FY2020
Operating Margin
1.46%
+44.4pp
FY2025
Diluted EPS
-$3.51
+88.5%
FY2025
Operating Cash Flow
$44.38M
+164.3%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $2.52B | $2.5B | $2.47B | $1.37B | $1.68B | $1.39B | $1.27B | $1.22B | $1.14B | $1.17B | $1.03B | $959.13M | $780.96M | $652.48M | $584.45M | $536.4M | $483.94M | $417.41M | $474.44M | |
| — | — | — | — | -$5.14M | -$4.34M | -$4.56M | -$2.71M | — | — | — | — | — | — | — | — | — | — | — | |
| — | — | — | — | — | — | $650.66M | $586.14M | $564.31M | $545.09M | $460.8M | — | — | — | — | — | — | — | — | |
| — | — | — | — | — | — | $618.91M | $629.05M | $573.3M | $624.26M | $569.41M | — | — | — | — | — | — | — | — | |
| — | — | — | — | — | — | 48.75% | 51.77% | 50.39% | 53.38% | 55.27% | — | — | — | — | — | — | — | — | |
| — | $92.43M | $85.87M | $16.04M | $12.21M | $10.54M | $13.49M | $10.18M | $8.11M | $10.19M | $10.12M | $10.91M | $8.52M | $5.76M | — | — | — | — | — | |
| $155.26M | $152.64M | $143.98M | $57.41M | $42.55M | $34.97M | $37.13M | $36.39M | $35.83M | $41.06M | $38.21M | $37.16M | $31.13M | $23.58M | $21.02M | $20.99M | $20.45M | $19.72M | -$16.62M | |
| $2.69B | $2.46B | $3.54B | $1.28B | $1.43B | $1.24B | $1.2B | $1.1B | $1.02B | $1.06B | $970.51M | $877.35M | $684.55M | $568.13M | $500.91M | $459.29M | $430.2M | $398.86M | $404.15M | |
| -$168.73M | $36.42M | -$1.06B | $88.21M | $247.59M | $147.03M | $73.92M | $112.42M | $117.22M | $108.76M | $59.7M | $81.77M | $96.41M | $84.36M | $83.53M | $77.11M | $53.74M | $18.55M | $70.29M | |
| — | 1.46% | -42.96% | 6.44% | 14.74% | 10.6% | 5.82% | 9.25% | 10.3% | 9.3% | 5.8% | 8.53% | 12.34% | 12.93% | 14.29% | 14.38% | 11.1% | 4.44% | 14.81% | |
| -$13.48M | $189.06M | -$918.96M | $145.62M | $290.14M | $181.99M | $111.05M | $148.81M | $153.05M | $149.81M | $97.91M | $118.93M | $127.54M | $107.93M | $104.55M | $98.1M | $74.19M | $38.27M | $53.67M | |
| $177.18M | $180.75M | $189.22M | $31.57M | $5.14M | $4.34M | $4.56M | $2.71M | $1.78M | $1.21M | $1.6M | $2.05M | $610K | $532K | $391K | $619K | $730K | $670K | $1.24M | |
| — | — | — | — | — | — | — | — | — | — | — | $25K | $8000 | $37K | $41K | $165K | $96K | $72K | — | |
| -$182.19M | -$183.62M | -$186.9M | -$31.57M | -$5.14M | -$4.34M | -$4.56M | -$2.71M | -$1.79M | -$1.22M | -$1.59M | -$2.11M | -$321K | -$433K | -$377K | -$545K | -$640K | -$601K | -$874K | |
| -$350.92M | -$147.2M | -$1.25B | $56.64M | $242.45M | $142.69M | $69.36M | $109.7M | $115.43M | $107.54M | $58.11M | $79.67M | $96.09M | $83.92M | $83.16M | $76.57M | $53.1M | $17.95M | $69.41M | |
| -$6.69M | -$5.47M | -$124.99M | $13.84M | $63.04M | $35.81M | $16.59M | $27.38M | $26.87M | $20.28M | $30.61M | $24.09M | $34.92M | $29.46M | $30.49M | $29.37M | $21.06M | $8.15M | $26.87M | |
| -$275.64M | -$107.8M | -$816.97M | $167.35M | $193.19M | $105.86M | $23.73M | $87.1M | $92.05M | $87.26M | $27.51M | $55.58M | $61.17M | $54.47M | $52.67M | $47.2M | $32.04M | $9.8M | $42.54M | |
| — | -4.32% | -33.02% | 12.21% | 11.5% | 7.63% | 1.87% | 7.17% | 8.09% | 7.46% | 2.67% | 5.79% | 7.83% | 8.35% | 9.01% | 8.8% | 6.62% | 2.35% | 8.97% | |
| -$60.1M | -$33.93M | -$314.26M | $0 | $0 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| — | — | -$837.13M | $42.8M | $179.41M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| -$289.55M | -$104.48M | -$819.7M | $167.35M | $193.19M | $105.86M | $23.73M | $87.1M | $92.05M | $87.26M | $27.51M | $55.58M | $61.17M | $54.47M | $52.67M | $47.2M | $32.04M | $9.8M | $42.54M | |
| USD/shares | -$8.89 | -$3.51 | -$30.63 | $6.42 | $7.17 | $3.87 | $0.84 | $3.06 | $3.14 | $2.90 | $0.90 | $1.80 | $1.99 | $1.81 | $1.82 | $1.62 | $1.11 | $0.34 | $1.48 |
| USD/shares | -$8.89 | -$3.51 | -$30.63 | $6.40 | $7.14 | $3.85 | $0.84 | $3.04 | $3.12 | $2.89 | $0.90 | $1.78 | $1.96 | $1.77 | $1.78 | $1.60 | $1.10 | $0.34 | $1.47 |
| shares | — | 30.72M | 27.54M | 25.91M | 26.78M | 27.16M | 27.63M | 28.2M | 29.08M | 29.87M | 30.28M | 30.73M | 30.6M | 30.14M | 28.97M | 29.05M | 28.98M | 28.93M | 28.81K |
| shares | — | 30.72M | 27.54M | 26M | 26.93M | 27.29M | 27.7M | 28.31M | 29.19M | 29.96M | 30.44M | 31.04M | 31.07M | 30.76M | 29.54M | 29.44M | 29.11M | 28.99M | 29.03K |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2008–FY2025: $548.53M in buybacks, $251.42M in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
0.84×
Peer median 0.57×
EV/EBIT
—
P/E (TTM)
—
Peer medians compare against the 8 similar-size Integrated Freight & Logistics companies (of 25 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Omni Logistics Segment | $1,351,164,000 | $1,196,841,000 | — | — | — | — | — | — |
| Expedited Freight Segment | $914,659,000 | $1,044,938,000 | $1,096,810,000 | $1,259,936,000 | $1,098,847,000 | — | $997,877,000 | — |
| Intermodal Segment | $229,295,000 | $232,319,000 | $273,925,000 | $419,698,000 | $289,171,000 | — | $217,606,000 | — |
| Corporate | $0 | $164,000 | $0 | — | — | — | — | — |
| Expedited Freight | — | — | — | — | — | $1,070,106,000 | $997,877,000 | $937,289,000 |
| Intermodal | — | — | — | — | — | $199,567,000 | $217,606,000 | $200,750,000 |
| Pool Distribution | — | — | — | — | — | — | $207,092,000 | — |
By Geography (USD)
| Component | FY2025 |
|---|---|
| United States | $2,165,076,000 |
| Non Us | $330,042,000 |
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Network | $761,940,000 | $854,138,000 | $845,949,000 | $947,817,000 | $805,015,000 | $599,097,000 | $675,312,000 |
| Truckload | $165,889,000 | $170,455,000 | $159,513,000 | $221,979,000 | $223,026,000 | $194,058,000 | $196,855,000 |
| Product And Service Other | $84,730,000 | $90,570,000 | $91,496,000 | $90,325,000 | $71,029,000 | $54,671,000 | $28,212,000 |
| Final Mile | — | — | — | $293,769,000 | $275,201,000 | $224,475,000 | $100,555,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Expedited Freight Segment | $69,780,000 | $67,951,000 | $116,311,000 | $192,583,000 | $127,045,000 | $71,266,000 | $103,640,000 | — |
| Omni Logistics Segment | $30,162,000 | -$1,044,803,000 | — | — | — | — | — | — |
| Intermodal Segment | $16,924,000 | $18,925,000 | $25,327,000 | $56,874,000 | $30,117,000 | $16,391,000 | $23,679,000 | — |
| Corporate | -$80,442,000 | -$105,009,000 | -$53,428,000 | — | — | — | — | — |
| Expedited Freight | — | — | — | — | — | $71,266,000 | $103,640,000 | $103,652,000 |
| Intermodal | — | — | — | — | — | $16,391,000 | $23,679,000 | $23,266,000 |
| Pool Distribution | — | — | — | — | — | — | $7,275,000 | — |
| Intersegment Elimination | — | — | — | — | — | -$13,733,000 | -$14,903,000 | -$9,702,000 |
Operating Margin by Segment (%)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Omni Logistics Segment | 2.2% | -87.3% | — | — | — | — | — | — |
| Expedited Freight Segment | 7.6% | 6.5% | 10.6% | 15.3% | 11.6% | — | 10.4% | — |
| Intermodal Segment | 7.4% | 8.1% | 9.2% | 13.6% | 10.4% | — | 10.9% | — |
| Corporate | — | -64029.9% | — | — | — | — | — | — |
| Expedited Freight | — | — | — | — | — | 6.7% | 10.4% | 11.1% |
| Intermodal | — | — | — | — | — | 8.2% | 10.9% | 11.6% |
| Pool Distribution | — | — | — | — | — | — | 3.5% | — |
Key facts
CIK
912728
CUSIP
34986A104
13F (30d)
162 filings
159 filers
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