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Forward Air FWRD Expedited Freight — Goodwill

Other segment segments

Intermodal
$136.99M
Omni Logistics
$0

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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$487.34M-46.4%
Enterprise value$2.46B-17.4%
P/S0.2×-0.2×

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:Goodwill.

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
Balance as of December 31, 2025Expedited FreightOmni LogisticsIntermodalTotal
Goodwill$167,406$1,272,403$136,986$1,576,795
Accumulated impairment charges (1)(25,686)(1,028,397)(1,054,083)
Reported goodwill as of December 31, 2025141,720244,006136,986522,712
Impairment(244,006)(244,006)
Balance as of June 30, 2026
Goodwill$167,406$1,272,403$136,986$1,576,795
Accumulated impairment charges(25,686)(1,272,403)(1,298,089)
Reported goodwill as of June 30, 2026$141,720$136,986$278,706

Item 1. Financial Statements

FAQ

What is Forward Air's expedited freight — goodwill?
Forward Air (FWRD) reported expedited freight — goodwill of $141.72M in Q2 2026.
What is the long-term trend for Forward Air's expedited freight — goodwill?
Over 3 years (2021 to 2024), Forward Air's expedited freight — goodwill has grown at a -3.2% compound annual growth rate (CAGR), from $624.2M to $566.88M.
What does expedited freight — goodwill mean?
Represents the intangible asset value recorded when the Expedited Freight segment is acquired for a price exceeding the fair market value of its identifiable net assets. It reflects the premium paid for brand reputation, customer relationships, and synergies within the expedited logistics network. Monitoring this balance is essential for assessing the long-term strategic value attributed to the segment's market position.

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