What are Forward Air's total assets?

Forward Air (FWRD) holds $2.7B in total assets, down 3.9% year over year.

How much debt does Forward Air have?

Forward Air carries $2.2B in total debt against $81.0M of shareholders' equity, a debt-to-equity ratio of 26.55.

How much cash does Forward Air have?

Forward Air holds $141.0M in cash and equivalents.

Can Forward Air cover its short-term obligations?

Its current ratio is 1.23 — current assets exceed current liabilities.

Where does Forward Air's balance sheet data come from?

Every line is extracted from Forward Air's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.

Forward Air FWRD Balance Sheet Statement

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Cash and cash equivalents	$106M+0.7%	$105.27M-94.6%	$1.95B+4,160%	$45.82M+22.8%
Accounts receivable, net	$343.56M+6.6%	$322.29M+110%	$153.27M-18.6%	$188.23M-9.5%
Prepaid expenses and other current assets	$28.05M-3.5%	$29.05M+13.1%	$25.68M+3.7%	$24.77M+11.2%
Total current assets	$521M+10.3%	$472.5M+36.2%	$347.03M+14.0%	$304.32M+7.6%
Property and equipment, net	$297.88M-8.7%	$326.19M+26.4%	$258.1M+3.6%	$249.08M+13.7%
Accumulated depreciation	$340.02M+16.1%	$292.86M+17.1%	$250.19M+13.4%	$220.67M+9.9%
Operating lease right-of-use assets	$412.54M+0.6%	$410.08M+268%	$111.55M-14.9%	$131.1M-11.5%
Goodwill	$522.71M0.0%	$522.71M+87.5%	$278.71M+8.0%	$257.99M+18.0%
Intangible assets, net	$906.79M-9.2%	$999.22M+641%	$134.79M+16.6%	$115.58M-25.3%
Deferred tax assets	$27.22M-28.7%	$38.17M-9.6%	$42.2M-17.4%	$51.09M+17.7%
Other non-current assets	$58.02M-19.3%	$71.94M+22.2%	$58.86M+13.8%	$51.74M+11.9%
Total assets	$2.72B-3.0%	$2.8B-5.9%	$2.98B+147%	$1.21B+8.1%
Accounts payable	$121.75M+15.2%	$105.69M+133%	$45.43M-9.3%	$50.09M+11.7%
Accrued expenses	$69.13M+53.1%	$45.15M-37.1%	$71.73M+1,719%	$3.94M-14.5%
Current portion of long-term debt	$16M-5.5%	$16.93M—	$0-100%	$1.49M-0.4%
Operating lease liabilities, current	$107.03M+11.0%	$96.44M+117%	$44.34M+4.9%	$42.27M-11.1%
Finance Lease Liability, Current	$16M-5.5%	$16.93M+33.9%	$12.65M+61.7%	$7.82M+70.4%
Total current liabilities	$428.33M+11.5%	$384.05M+62.0%	$237.09M+40.0%	$169.4M+2.9%
Long-term debt	$1.69B+0.7%	$1.68B—	$0-100%	$106.59M-31.4%
Operating lease liabilities, non-current	$327.01M+0.4%	$325.64M+355%	$71.6M-22.9%	$92.9M-8.4%
Finance lease liabilities	$22.39M-27.5%	$30.86M+15.4%	$26.74M+70.2%	$15.71M+64.2%
Other non-current liabilities	$53.54M+9.6%	$48.84M+3.6%	$47.14M-20.2%	$59.04M+19.0%
Total liabilities	$10.58M-20.4%	$13.3M—	$0—	——
Preferred stock	$0—	$0—	$0—	$0—
Common stock	50M+16,679%	298K+16.0%	257K-3.0%	265K-1.9%
Additional paid-in capital	$559.55M+3.2%	$542.39M+91.2%	$283.68M+4.7%	$270.86M+4.8%
Retained earnings	-$447.1M-32.2%	-$338.23M-170%	$480.32M+10.1%	$436.12M+30.2%
Accumulated other comprehensive income (loss)	$580K+121%	-$2.73M—	$0—	——
Noncontrolling interests	$48.32M-42.6%	$84.14M—	$0—	——
Total stockholders' equity	$113.34M-43.8%	$201.73M-73.6%	$764.26M+8.1%	$707.24M+19.1%
Total liabilities and stockholders' equity	$2.72B-3.0%	$2.8B-5.9%	$2.98B+147%	$1.21B+8.1%
Allowance for Doubtful Accounts Receivable (Current)	$3.75M+14.7%	$3.27M+48.2%	$2.21M-30.1%	$3.16M-3.1%
Other current assets	$37.25M+138%	$15.69M+1,329%	$1.1M-89.6%	$10.55M+50.2%
Other accounts receivable (net of allowances of $37 in 2026 and $37 in 2025)	$6.15M+2,899%	$205K-96.2%	$5.41M—	$0-100%
Other Receivables	$6.15M+2,899%	$205K-96.2%	$5.41M—	$0-100%
Deferred Tax Assets and Other Non-Current Assets	$58.02M-19.3%	$71.94M—	——	——
Net Investment in Lease	$412.54M+0.6%	$410.08M+268%	$111.55M-14.9%	$131.1M-11.5%
Other intangible assets—net	$906.79M-9.2%	$999.22M+641%	$134.79M+16.6%	$115.58M-25.3%
Operating lease right-of-use assets	$412.54M+0.6%	$410.08M+268%	$111.55M-14.9%	$131.1M-11.5%
Other non-current assets	$58.02M-19.3%	$71.94M—	——	——
Property, plant and equipment, net	$297.88M-8.7%	$326.19M+26.4%	$258.1M+4.8%	$246.33M—
Operating Lease Right-of-Use Assets in Other Assets	$412.54M+0.6%	$410.08M+268%	$111.55M-14.9%	$131.1M-11.5%
Software and Technology Licenses, Net	$58.02M-19.3%	$71.94M—	——	——
Other Commercial Liabilities	$114.42M-4.5%	$119.84M+90.4%	$62.95M+26.1%	$49.92M-19.0%
Accrued Liabilities, Current	$114.42M-4.5%	$119.84M+90.4%	$62.95M+26.1%	$49.92M-19.0%
Other accrued liabilities	$69.13M+53.1%	$45.15M-37.1%	$71.73M+1,719%	$3.94M-14.5%
Debt - Unamortized Discount (Premium) and Issuance Costs, Net	$35.29M-11.8%	$40M—	$0-100%	$418K-21.7%
Total debt	$2.18B+0.6%	$2.16B+1,292%	$155.32M-44.1%	$277.85M-13.2%
Common Stock Par Value Per Share	$0.010.0%	$0.010.0%	$0.010.0%	$0.010.0%
Common Stock Shares Issued	31.3M+5.3%	29.8M+15.9%	25.7M-3.0%	26.5M-1.9%
Convertible Preferred Stock Authorized Shares	5M0.0%	5M—	——	5M0.0%
Convertible Preferred Stock Issued Shares	0—	0—	——	0—
Convertible Preferred Stock Outstanding Shares	0—	0—	——	0—
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	$313K+5.0%	$298K+16.0%	$257K-3.0%	$265K-1.9%
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding	$0—	$0—	$0—	$0—
Preferred Stock Par Value Per Share	$0.010.0%	$0.01—	——	$0.010.0%
Additional tax receivable agreement liability	$968K—	——	——	——
Allowance for doubtful accounts	$3.75M+14.7%	$3.27M+48.2%	$2.21M-30.1%	$3.16M-3.1%
Common stock, par value (in dollars per share)	$0.010.0%	$0.010.0%	$0.010.0%	$0.010.0%
Common stock, shares authorized (in shares)	$50M-1.4%	$50.7M+1.4%	$50M0.0%	$50M0.0%
Common stock, shares issued (in shares)	$31.33M+5.3%	$29.76M+15.9%	$25.67M-3.0%	$26.46M-1.9%
Common Stock, Shares, Outstanding	$31.33M+5.3%	$29.76M+15.9%	$25.67M-3.0%	$26.46M-1.9%
Less: net unamortized discount	$47.47M-12.2%	$54.07M—	$0—	——
Deferred income taxes	$27.22M-28.7%	$38.17M-9.6%	$42.2M-17.4%	$51.09M+17.7%
Current maturities of long-term debt	$16M-5.5%	$16.93M+33.9%	$12.65M+61.7%	$7.82M+70.4%
Finite-Lived Intangible Assets, Accumulated Amortization	$301.45M+41.6%	$212.91M+67.6%	$127.03M+3.0%	$123.33M+14.9%
Increase in liabilities under tax receivable agreement	——	——	——	——
Tax receivable agreement liabilities	$10.58M-20.4%	$13.3M—	——	——
Liabilities under tax receivable agreement	$11.55M-13.1%	$13.3M—	$0—	——
Long-Term Debt, Excluding Current Maturities, Including Debt Issuance Costs	$1.69B+0.7%	$1.68B—	$0—	——
Fair value of long-term debt	$1.81B—	——	——	——
Noncontrolling interests in subsidiaries	$48.32M-42.6%	$84.14M—	$0—	——
Preferred Stock, Par or Stated Value Per Share	$0.010.0%	$0.01—	——	$0.010.0%
Preferred Stock, Shares Authorized	$5M0.0%	$5M—	——	$5M0.0%
Preferred Stock, Shares Issued	$0—	$0—	——	$0—
Preferred Stock, Shares Outstanding	$0—	$0—	——	$0—
Contingent consideration, potential payment, maximum	——	$24.05M—	——	——
Contingent consideration, potential payment, minimum	——	——	——	——

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Questions, answered.

What are Forward Air's total assets?: Forward Air (FWRD) holds $2.7B in total assets, down 3.9% year over year.
How much debt does Forward Air have?: Forward Air carries $2.2B in total debt against $81.0M of shareholders' equity, a debt-to-equity ratio of 26.55.
How much cash does Forward Air have?: Forward Air holds $141.0M in cash and equivalents.
Can Forward Air cover its short-term obligations?: Its current ratio is 1.23 — current assets exceed current liabilities.
Where does Forward Air's balance sheet data come from?: Every line is extracted from Forward Air's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.