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Other financials

Income statement

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Revenue$582.0M-5.1%
Operating income$20.4M+329%
Net income-$34.3M+32.2%
EPS (diluted)-$1.09+35.1%

Balance sheet

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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

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Operating cash flow$45.7M+65.6%
CapEx$6.9M-41.7%
Free cash flow$38.8M+147%

Valuation

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Market cap$451.92M-33.0%
Enterprise value$2.46B-9.2%
P/S0.2×-0.1×

Profitability

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Gross margin48.7%
Operating margin2.2%+1.1pp
Net margin-3.7%-1.7pp
FCF margin0.6%+0.3pp

Returns & leverage

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Return on equity-77.6%-25.2pp
Debt / equity26.5×+12.6×
Current ratio1.2×+0.1×

Where this comes from

Calculated from Forward Air’s reported figures.

$20.4Mebit+
$38.5MDepreciation Depletion & Amortization
=$58.96M

The official record: Forward Air’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Forward Air's EBITDA?
Forward Air (FWRD) reported EBITDA of $58.96M in Q1 2026.
How has Forward Air's EBITDA changed year-over-year?
Forward Air's EBITDA increased by 40.0% year-over-year, from $42.12M to $58.96M.
What is the long-term trend for Forward Air's EBITDA?
Over 4 years (2021 to 2025), Forward Air's EBITDA has grown at a 1.3% compound annual growth rate (CAGR), from $181.99M to $191.93M.
What does EBITDA mean?
Earnings before interest, taxes, depreciation, and amortization — EBIT plus the D&A add-back from the cash-flow statement (EBITDA = EBIT + D&A). A proxy for cash earnings that strips out financing, tax, and non-cash charges.