What is Forward Air's market cap?

Forward Air (FWRD) has a market capitalization of $465.5M and trades on NASDAQ.

What is Forward Air's revenue and profitability?

Forward Air generated $2.5B in trailing twelve-month revenue with a net loss of $91.5M, representing a net margin of -3.7%. Gross margin stands at 48.7%, with free cash flow of $85.1M. These figures are based on the Q1 2026 filing.

Who are Forward Air's competitors?

Forward Air's key competitors include XPO, Inc., Hub Group, FedEx Corporation, and others. These companies compete in similar markets and product categories.

Who does Forward Air partner with?

Forward Air's notable partners include Hope for the Warriors, EcoVadis, CDP.

What subsidiaries does Forward Air have?

Forward Air's subsidiaries include Omni Newco LLC, Mach 1 Air Services, LLC, Pacific Logistics, LLC, and others.

Where is Forward Air headquartered?

Forward Air is headquartered in United States of America and employs approximately 4,251 people. It has been publicly traded since 1993.

Forward Air

FWRD

Forward Air Corp is a leading asset-light provider of transportation and logistics services, specializing in high-touch supply chain management and precision execution.

Market cap

$465.52M-50.3%

Revenue$2.5B-3.2%

Net income-$91.5M+88.6%

Free cash flow$85.1M+149%

EPS (diluted)-$2.93+89.9%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

May 7, 2026

Revenue$582.0MMiss by $38.2M EPS-$1.09Miss by $0.74

Read the full report

Next report

Aug 5, 2026 (In 1 week)

Revenue estimate$634.4M

EPS estimate-$0.17

Financials

Q1 2026

Income statement

See full

Revenue$582.0M-5.1%

Operating income$20.4M+329%

Net income-$34.3M+32.2%

EPS (diluted)-$1.09+35.1%

Balance sheet

See full

Cash & equivalents$141.0M+20.9%

Total debt$2.2B-0.1%

Total equity$81.0M-47.6%

Total assets$2.7B-3.9%

Cash flow

See full

Operating cash flow$45.7M+65.6%

CapEx$6.9M-41.7%

Free cash flow$38.8M+147%

Valuation & ratios

Valuation

See full

Market cap$465.52M-50.3%

Enterprise value$2.47B-18.8%

P/S0.2×-0.2×

Profitability

See full

Operating margin2.2%+1.1pp

Net margin-3.7%-1.7pp

Returns & leverage

See full

Return on equity-77.6%-25.2pp

Debt / equity26.5×+12.6×

Current ratio1.2×+0.1×

Segments

By product

See full

Ground$363.2M-9.1%

Network$188.2M-1.0%

Contract Logistics$104.2M+30.0%

Truckload$62.5M+59.3%

Air And Ocean$62.3M-12.6%

By segment

See full

Omni Logistics$302.4M-6.5%

Expedited Freight Segment$272.7M+9.4%

Intermodal Segment$53.1M-15.0%

Competitors

By market cap

United Parcel Service, Inc.$96.0B+11.6%

FedEx$73.5B+28.6%

Old Dominion Freight Line$47.2B+35.8%

XPO

XPO$24.4B+52.9%

C.H. Robinson Worldwide$20.6B+70.7%

HUB Group$2.9B+34.2%

Forward Air$465.5M-52.6%

Universal Logistics Holdings, Inc.$375.5M-47.1%

By revenue growth

FedEx+7.7%

XPO

XPO+3.6%

United Parcel Service, Inc.-0.4%

Old Dominion Freight Line-0.6%

Forward Air-3.2%

C.H. Robinson Worldwide-6.7%

Universal Logistics Holdings, Inc.-11.1%

By net margin

Old Dominion Freight Line19.44%0.0pp

United Parcel Service, Inc.5.08%-1.3pp

FedEx4.68%0.0pp

XPO

XPO4.19%-0.7pp

C.H. Robinson Worldwide3.7%+0.8pp

Forward Air-3.71%+27.9pp

Universal Logistics Holdings, Inc.-7.09%-11.9pp

Profile

Forward Air Corp is a leading asset-light provider of transportation and logistics services, specializing in high-touch supply chain management and precision execution. The company offers a comprehensive suite of services including expedited less-than-truckload (LTL), intermodal drayage, and international freight forwarding across North America, Europe, and Asia. Its value proposition centers on a damage-free, reliable alternative to air freight through an extensive ground network and specialized logistics solutions for time-sensitive cargo.

Competitive position

A leading provider of expedited ground transportation that serves as a cost-effective, reliable alternative to air cargo for time-sensitive shipments.

GeographiesNorth America, Asia-Pacific, Europe, Latin America

Customer segmentsLogistics Intermediaries, Enterprise Retail, Technology and Manufacturing, Airlines

Business modelAsset-light logistics, Brokerage, B2B Service

SuppliersIndependent contractor drivers (Leased Capacity Providers), Third-party motor carriers, Commercial tractor and trailer manufacturers, Fuel providers

CustomersGlobal retail brands, Technology manufacturers, Freight forwarding agencies, Pharmaceutical and life sciences companies

CountryUnited States of America

Listed1993

Employees4.3K

CEOShawn Stewart

SectorIndustrials

IndustryIntegrated Freight & Logistics

Websiteforwardaircorp.com

FilingsSEC EDGAR

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Questions, answered.

What is Forward Air's market cap?: Forward Air (FWRD) has a market capitalization of $465.5M and trades on NASDAQ.
What is Forward Air's revenue and profitability?: Forward Air generated $2.5B in trailing twelve-month revenue with a net loss of $91.5M, representing a net margin of -3.7%. Gross margin stands at 48.7%, with free cash flow of $85.1M. These figures are based on the Q1 2026 filing.
Who are Forward Air's competitors?: Forward Air's key competitors include XPO, Inc., Hub Group, FedEx Corporation, and others. These companies compete in similar markets and product categories.
Who does Forward Air partner with?: Forward Air's notable partners include Hope for the Warriors, EcoVadis, CDP.
What subsidiaries does Forward Air have?: Forward Air's subsidiaries include Omni Newco LLC, Mach 1 Air Services, LLC, Pacific Logistics, LLC, and others.
Where is Forward Air headquartered?: Forward Air is headquartered in United States of America and employs approximately 4,251 people. It has been publicly traded since 1993.