Forward Air Corporation (FWRD) Fundamentals — Income, Balance Sheet & Cash Flow | MarketCI

Forward Air Corporation (FWRD) Fundamentals — Income, Balance Sheet & Cash Flow | MarketCI | MarketCI

FWRD

Market Closed

Forward Air Corporation

NASDAQIndustrials Integrated Freight & Logistics

6.06K employees

CEO: Shawn Stewart

Founded: 1993

$15.25

+$0.00(+NaN%)

Market Cap

482.28M

Beta

1.36

52W Range

N/A

Dividend Yield

6.30%

Overview Forecasts Fundamental Market Sentiment Valuation Ownership

Financial Statements

Comprehensive breakdown of financial statements and performance metrics

Gross Margin

20.5%

50.4%

CAGR: 12.9%

Profit after direct costs

Operating Margin

1.5%

-103.4%

CAGR: -29.4%

Core business profitability

Net Margin

-4.3%

-86.8%

CAGR: N/A

Bottom line profitability

Revenue Growth

0.8%

YoY

CAGR: 15.8%

Top line growth rate

Revenue Flow Analysis

Visual flow showing how FWRD allocates revenue across expenses and profit

Fiscal Year 2025

Revenue Distribution

Flow of revenue through cost categories to net income

Gross Margin

20.5%

$510.94M

Operating Margin

1.5%

$36.42M

Net Margin

-4.3%

$-107.80M

Detailed Income Statement

Complete profit and loss breakdown with margin analysis and historical comparison

Item	2021	2022	2023	2024	2025	YoY Change
Total Revenue	1.39B	1.68B	1.37B	2.47B	2.50B	0.8%
Cost of Revenue	(1.07B)	(1.19B)	(1.04B)	(2.13B)	(1.98B)	-7.0%
Gross Profit	313.95M	491.67M	330.15M	339.65M	510.94M	50.4%
Operating Expenses
Research & Development	—	—	—	—	—	—
Selling, General & Administrative	(39.41M)	(47.48M)	(50.13M)	(64.68M)	—	-100.0%
Depreciation & Amortization	(34.97M)	(42.55M)	(57.41M)	(143.98M)	(152.64M)	6.0%
Operating Income (EBIT)	147.03M	247.59M	88.21M	-1.06B	36.42M	-103.4%
Non-Operating Items
Interest Income	—	—	—	—	—	—
Interest Expense	(4.34M)	(5.14M)	(31.57M)	(189.22M)	(180.75M)	-4.5%
Other Income/Expenses (Net)	-4.34M	-5.14M	-31.57M	-186.90M	-183.62M	-1.8%
Income Before Tax	142.69M	242.45M	56.64M	-1.25B	-147.20M	-88.2%
Income Tax Expense	(35.81M)	(63.04M)	(13.84M)	(124.99M)	(5.47M)	-95.6%
Net Income	105.86M	193.19M	167.35M	-816.97M	-107.80M	-86.8%
Per Share Metrics
Earnings Per Share (Basic)	$4	$7	$0	$-29	$-3	-88.2%
Weighted Avg Shares Outstanding	27.16M	26.78M	25.91M	27.54M	30.97M	12.5%
Weighted Avg Shares Outstanding (Diluted)	27.29M	26.93M	26.00M	27.54M	30.97M	12.5%
EBITDA	181.99M	290.14M	145.62M	-916.64M	186.19M	-120.3%

Explore FWRD

Overview

Key metrics and AI-powered insights

Forecast

Price targets and earnings estimates

Fundamentals

Income, balance sheet and cash flow

Valuation

P/E, DCF and valuation multiples

Ownership

Institutional and insider holdings

Sentiment

Analyst ratings and news sentiment

FWRD in the Industrials

Small Cap

Industrials

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Integrated Freight & Logistics

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