What is Forward Air's EV / EBITDA?

Forward Air (FWRD) reported EV / EBITDA of 12.2× in Q1 2026.

What is the long-term trend for Forward Air's EV / EBITDA?

Over 4 years (2020 to 2025), Forward Air's EV / EBITDA has grown at a -7.9% compound annual growth rate (CAGR), from 20.6× to 14.9×.

What does EV / EBITDA mean?

Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.

Forward Air FWRD EV / EBITDA

EV / EBITDA at other companies

Old Dominion Freight LineODFL

23.7×+4.7×

C.H. Robinson WorldwideCHRW

23.5×+6.7×

FedExFDX

12.6×+2.3×

United Parcel Service, Inc.UPS

7.4×-0.3×

XPO

XPOXPO

22.1×+7.9×

RXORXO

93.8×-37.5×

Other financials

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

See full

Market cap$451.92M-33.0%

Enterprise value$2.46B-9.2%

P/S0.2×-0.1×

Profitability

See full

Gross margin48.7%—

Operating margin2.2%+1.1pp

Net margin-3.7%-1.7pp

FCF margin0.6%+0.3pp

Returns & leverage

See full

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.

enterprise value/ebitda=12.2×

Based on the most recent quarter.

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

Ask your AI about Forward Air's ev / ebitda.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Forward Air's EV / EBITDA?: Forward Air (FWRD) reported EV / EBITDA of 12.2× in Q1 2026.
What is the long-term trend for Forward Air's EV / EBITDA?: Over 4 years (2020 to 2025), Forward Air's EV / EBITDA has grown at a -7.9% compound annual growth rate (CAGR), from 20.6× to 14.9×.
What does EV / EBITDA mean?: Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.