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Forward Air FWRD Intermodal — Depreciation

Other segment segments

Omni Logistics
$23.88M+6.5%
Expedited Freight
$8.5M-18.0%

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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$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 intermodal — depreciation?
Forward Air (FWRD) reported intermodal — depreciation of $3.88M in Q2 2026.
How has Forward Air's intermodal — depreciation changed year-over-year?
Forward Air's intermodal — depreciation decreased by 13.8% year-over-year, from $4.5M to $3.88M.
What is the long-term trend for Forward Air's intermodal — depreciation?
Over 2 years (2021 to 2023), Forward Air's intermodal — depreciation has grown at a 65.9% compound annual growth rate (CAGR), from $3.54M to $9.74M.
What does intermodal — depreciation mean?
The systematic allocation of the cost of tangible assets, such as containers or chassis, used within the Intermodal segment over their estimated useful lives. This non-cash expense reflects the wear and tear and obsolescence of the segment's physical infrastructure.

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