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Other financials

Income statement

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Revenue$673.0M+8.8%
Operating income-$201.3M-1,131%
Net income-$207.3M-1,547%
EPS (diluted)-$6.38-1,456%

Balance sheet

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Cash & equivalents$139.4M+46.3%
Total debt$2.1B-2.4%
Total equity-$115.4M-176%
Total assets$2.4B-12.7%

Cash flow

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Operating cash flow$45.7M+65.6%
Free cash flow$38.8M+147%

Valuation

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Market cap$653.66M-24.8%
Enterprise value$2.62B-10.6%
P/S0.3×-0.1×

Profitability

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Gross margin48.7%
Operating margin-6.6%-8.5pp
Net margin-11.4%+21.6pp
FCF margin0.6%+0.3pp

Returns & leverage

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Return on equity-77.6%-25.2pp
Debt / equity26.5×+12.6×
Current ratio1.3×+0.1×

Where this comes from

Reported directly by Forward Air in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The source filing: Forward Air’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:07 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053329
Line itemSix Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Net cash provided by operating activities40,85514,398
INVESTING ACTIVITIES:
Proceeds from sale of property and equipment2,5531,495
Purchases of property and equipment(10,159)(16,650)
Proceeds from sale of business, net8,739
Other31
Net cash provided by (used in) investing activities1,133(15,124)
FINANCING ACTIVITIES:

Item 1. Financial Statements

FAQ

What is Forward Air's capex?
Forward Air (FWRD) reported capex of $3.21M in Q2 2026.
How has Forward Air's capex changed year-over-year?
Forward Air's capex decreased by 32.3% year-over-year, from $4.74M to $3.21M.
What is the long-term trend for Forward Air's capex?
Over 4 years (2021 to 2025), Forward Air's capex has grown at a -6.7% compound annual growth rate (CAGR), from $38.38M to $29.12M.
What does capex mean?
Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

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