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STOCKS

Forward Air Corp. (FWRD)

NASDAQ:FWRD

FWRD

Forward Air

RESEARCH TOOLSreports

Forward Air (FWRD) Ratios

Compare

280 Followers

Forward Air Ratios

FWRD's free cash flow for Q4 2025 was $0.48. For the 2025 fiscal year, FWRD's free cash flow was decreased by $ and operating cash flow was

gt;-0.01. See a summary of the company’s cash flow.

Ratios	TTM	Dec 25	Dec 24	Dec 23	Dec 22
Liquidity Ratios
Current Ratio	1.22	1.22	1.23	1.46	1.80
Quick Ratio	1.22	1.22	1.23	1.46	1.80
Cash Ratio	0.25	0.25	0.27	0.51	0.27
Solvency Ratio	0.02	0.02	-0.27	0.10	0.47
Operating Cash Flow Ratio	0.10	0.10	-0.20	0.77	1.53
Short-Term Operating Cash Flow Coverage	0.00	0.00	0.00	14.34	27.81
Net Current Asset Value	$ -2.06B	$ -2.06B	$ -2.04B	$ -1.87B	$ -196.52M
Leverage Ratios
Debt-to-Assets Ratio	0.79	0.79	0.77	0.65	0.22
Debt-to-Equity Ratio	19.05	19.05	10.64	2.55	0.38
Debt-to-Capital Ratio	0.95	0.95	0.91	0.72	0.27
Long-Term Debt-to-Capital Ratio	0.94	0.94	0.89	0.70	0.13
Financial Leverage Ratio	24.22	24.22	13.89	3.90	1.71
Debt Service Coverage Ratio	1.06	1.06	-4.18	2.98	15.71
Interest Coverage Ratio	0.20	0.20	-5.62	2.79	48.19
Debt to Market Cap	3.45	2.18	1.89	1.11	0.04
Interest Debt Per Share	75.57	75.57	84.79	76.31	10.15
Net Debt to EBITDA	11.03	11.03	-2.23	12.53	0.76
Profitability Margins
Gross Profit Margin	20.48%	20.48%	13.73%	24.09%	29.27%
EBIT Margin	1.34%	1.34%	-42.87%	6.44%	14.74%
EBITDA Margin	7.46%	7.46%	-37.05%	10.62%	17.27%
Operating Profit Margin	1.46%	1.46%	-42.96%	6.44%	14.74%
Pretax Profit Margin	-5.90%	-5.90%	-50.51%	4.13%	14.43%
Net Profit Margin	-4.32%	-4.32%	-33.02%	12.21%	11.50%
Continuous Operations Profit Margin	-5.68%	-5.68%	-45.46%	3.12%	10.68%
Net Income Per EBT	73.23%	73.23%	65.37%	295.47%	79.68%
EBT Per EBIT	-404.12%	-404.12%	117.58%	64.21%	97.92%
Return on Assets (ROA)	-3.93%	-3.93%	-29.15%	5.62%	15.99%
Return on Equity (ROE)	-77.06%	-95.11%	-404.99%	21.90%	27.32%
Return on Capital Employed (ROCE)	1.57%	1.57%	-43.95%	3.22%	23.84%
Return on Invested Capital (ROIC)	1.44%	1.44%	-37.78%	2.38%	16.80%
Return on Tangible Assets	-8.20%	-8.20%	-63.79%	6.52%	23.15%
Earnings Yield	-22.44%	-13.92%	-91.98%	10.27%	6.88%
Efficiency Ratios
Receivables Turnover	7.13	7.13	7.67	8.64	8.92
Payables Turnover	16.30	16.30	20.20	22.91	23.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.51	3.51	3.36	3.71	4.45
Asset Turnover	0.91	0.91	0.88	0.46	1.39
Working Capital Turnover Ratio	26.96	27.55	24.94	11.20	13.28
Cash Conversion Cycle	28.76	28.76	29.50	26.32	25.51
Days of Sales Outstanding	51.16	51.16	47.57	42.25	40.90
Days of Inventory Outstanding	0.00	0.00	0.00	0.00	0.00
Days of Payables Outstanding	22.40	22.40	18.07	15.94	15.39
Operating Cycle	51.16	51.16	47.57	42.25	40.90
Cash Flow Ratios
Operating Cash Flow Per Share	1.43	1.43	-2.74	7.00	9.67
Free Cash Flow Per Share	0.49	0.49	-4.08	5.81	8.15
CapEx Per Share	0.94	0.94	1.35	1.19	1.52
Free Cash Flow to Operating Cash Flow	0.34	0.34	1.49	0.83	0.84
Dividend Paid and CapEx Coverage Ratio	1.52	1.52	-2.03	3.26	3.89
Capital Expenditure Coverage Ratio	1.52	1.52	-2.03	5.90	6.36
Operating Cash Flow Coverage Ratio	0.02	0.02	-0.04	0.09	0.97
Operating Cash Flow to Sales Ratio	0.02	0.02	-0.03	0.13	0.15
Free Cash Flow Yield	3.12%	1.97%	-12.66%	9.25%	7.77%
Valuation Ratios
Price-to-Earnings (P/E) Ratio	-4.46	-7.18	-1.09	9.73	14.54
Price-to-Sales (P/S) Ratio	0.20	0.31	0.36	1.19	1.67
Price-to-Book (P/B) Ratio	4.24	6.83	4.40	2.13	3.97
Price-to-Free Cash Flow (P/FCF) Ratio	32.05	50.71	-7.90	10.81	12.87
Price-to-Operating Cash Flow Ratio	10.82	17.45	-11.78	8.98	10.84
Price-to-Earnings Growth (PEG) Ratio	-0.52	0.08	<0.01	-0.10	0.17
Price-to-Fair Value	4.24	6.83	4.40	2.13	3.97
Enterprise Value Multiple	13.66	15.19	-3.20	23.71	10.44
Enterprise Value	2.54B	2.83B	2.93B	3.45B	3.03B
EV to EBITDA	13.66	15.19	-3.20	23.71	10.44
EV to Sales	1.02	1.13	1.18	2.52	1.80
EV to Free Cash Flow	166.56	185.22	-26.04	22.92	13.88
EV to Operating Cash Flow	57.30	63.72	-38.85	19.04	11.70
Tangible Book Value Per Share	-40.94	-40.94	-44.88	13.54	12.46
Shareholders’ Equity Per Share	3.66	3.66	7.32	29.49	26.41
Tax and Other Ratios
Effective Tax Rate	0.04	0.04	0.10	0.24	0.26
Revenue Per Share	80.56	80.56	89.84	52.90	62.71
Net Income Per Share	-3.48	-3.48	-29.66	6.46	7.21
Tax Burden	0.73	0.73	0.65	2.95	0.80
Interest Burden	-4.39	-4.39	1.18	0.64	0.98
Research & Development to Revenue	0.00	0.00	0.00	0.00	0.00
SG&A to Revenue	0.02	0.00	0.03	0.04	0.03
Stock-Based Compensation to Revenue	<0.01	<0.01	<0.01	<0.01	<0.01
Income Quality	-0.21	-0.41	0.07	4.24	1.34

Currency in USD