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Forward Air FWRD Expedited Freight — Depreciation

Other segment segments

Omni Logistics
$23.88M+6.5%
Intermodal
$3.88M-13.8%

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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%
CapEx$3.2M-32.3%
Free cash flow$38.8M+147%

Valuation

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Market cap$653.66M-27.1%
Enterprise value$2.62B-11.3%
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:DepreciationDepletionAndAmortization.

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
Three Months Ended June 30, 2026Expedited FreightOmni LogisticsIntermodalCorporate and EliminationsTotal
Purchased transportation167,936190,16622,087(44,297)335,892
Salaries, wages and employee benefits57,56862,22613,783(3,537)130,040
Operating leases16,41627,4666,10027050,252
Depreciation and amortization8,49523,8783,8822,00738,262
Insurance and claims10,0182761,7991,58513,678
Fuel expense3,6684572,541(22)6,644
Other operating expenses20,06820,0823,43111,99355,574
Impairment of goodwill244,006244,006

Item 1. Financial Statements

FAQ

What is Forward Air's expedited freight — depreciation?
Forward Air (FWRD) reported expedited freight — depreciation of $8.5M in Q2 2026.
How has Forward Air's expedited freight — depreciation changed year-over-year?
Forward Air's expedited freight — depreciation decreased by 18.0% year-over-year, from $10.36M to $8.5M.
What is the long-term trend for Forward Air's expedited freight — depreciation?
Over 2 years (2021 to 2023), Forward Air's expedited freight — depreciation has grown at a 23.2% compound annual growth rate (CAGR), from $20.83M to $31.63M.
What does expedited freight — depreciation mean?
Represents the systematic allocation of the cost of tangible assets, such as vehicles and logistics equipment, over their useful lives within the Expedited Freight segment. This non-cash expense reflects the wear and tear of the segment's operational infrastructure. It is a key metric for understanding the capital intensity and asset replacement cycle of the business.

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