Forward Air Corporation
FWRD
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Fundamentals
| Market cap | $551.30M | Enterprise value | $2.51B | Trailing P/E | — | Forward P/E | 37.95 |
| PEG | 0.65 | Price / book | -4.77 | Beta | 1.41 | Dividend yield | 0.00% |
| Revenue growth | 8.8% | Earnings growth | — | Gross margin | 21.5% | Operating margin | 6.3% |
| Profit margin | -11.4% | ROE | -7.4% | ROA | 3.1% | Debt / equity | — |
| Current ratio | 1.32 | Free cash flow | $86.97M | Analyst recommendation | buy | Mean target | $26.00 |
| 52w high | $31.18 | 52w low | $7.86 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $673M | $582M | $631M | $632M | $619M |
| Op margin | 6.3% | 3.5% | -0.5% | 2.4% | 3.2% |
| Net income | -$207M | -$34.3M | -$28.3M | -$16.3M | -$12.6M |
| Gross margin | 16.6% | 15.4% | 15.2% | 14.0% | 12.7% |
| Gross profit | $112M | $89.5M | $95.9M | $88.5M | $78.5M |
| Operating income | $42.7M | $20.4M | -$2.9M | $15.0M | $19.5M |
- Revenue +16% vs prior quarter ($673M vs $582M).
- Gross margin 16.6% (was 15.4% prior quarter).
- Operating margin expanded to 6.3%.
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $2.5B | $2.5B | $1.4B | $1.7B | — |
| Op margin | 1.5% | -1.4% | 6.4% | 14.7% | — |
| Net income | -$108M | -$817M | $167M | $193M | — |
| Gross margin | 13.6% | 13.7% | 24.1% | 29.3% | — |
| Gross profit | $338M | $340M | $330M | $492M | — |
| Operating income | $36.4M | -$34.5M | $88.2M | $248M | — |
Headlines — positive tone
• [OK · fundamentals] Forward Air Corp (FWRD) (Q2 2026) Earnings Call Highlights: Record Revenue and Strategic Wins ...
• [OK · fundamentals] Forward Air’s (FWRD) Record Revenue Comes With a Massive Asterisk
News
2026-10-01 · Forward's 5th Annual Drive for Hope Golf Tournament Raises Record-Breaking $700,000 for Hope For The Warriors
2026-09-11 · Forward Air’s (FWRD) Record Revenue Comes With a Massive Asterisk
2026-08-22 · Forward Air (FWRD) Stock Fair Value Rises After Analysts Back Updated Customer Contract
2026-08-06 · Forward Air Corp (FWRD) (Q2 2026) Earnings Call Highlights: Record Revenue and Strategic Wins ...
2026-08-06 · Forward Air Q2 Earnings Call Highlights
2026-08-05 · Forward Air: Q2 Earnings Snapshot
2026-08-05 · Forward Air takes step in right direction in Q2
2026-08-05 · Forward Air Corporation Reports Second Quarter 2026 Results
2026-08-05 · Forward Air sells 2 business units, posts $201M operating loss
2026-08-04 · GXO Logistics (GXO) Beats Q2 Earnings Estimates
2026-08-04 · Earnings To Watch: Forward Air Corp (FWRD) Q2 2026 -- GF Value Sees 126% Upside
2026-07-29 · Old Dominion Freight Line (ODFL) Surpasses Q2 Earnings and Revenue Estimates
Price (daily)
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