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Forward Air FWRD Intermodal Segment — Purchased transportation

Other segment segments

Omni Logistics
$168.92M-9.1%
Expedited Freight Segment
$141.68M+17.4%

Similar metrics at other companies

Marten Transport logo
MRTNIntermodal — Purchased Transportation
$30M+8.3%
Knight-Swift Transportation Holdings Inc. logo
KNXIntermodal — Purchased transportation
$56.49M+4.8%
Schneider National logo
SNDRIntermodal — Purchased transportation, fuel, and fuel taxes
$191.3M-0.6%
Universal Logistics Holdings, Inc. logo
ULHIntermodal — Purchased Transportation And Equipment Rent
$17.63M-46.6%
Universal Logistics Holdings, Inc. logo
ULHIntermodal — Operating Expenses
$60.97M-25.1%
United Parcel Service, Inc. logo
UPSInternational Segment — Purchased transportation
$949M+4.9%

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

Reported directly by Forward Air in its filing.

Tagged under the XBRL concept us-gaap:OperatingCostsAndExpenses.

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 intermodal segment — purchased transportation?
Forward Air (FWRD) reported intermodal segment — purchased transportation of $19.34M in Q1 2026.
How has Forward Air's intermodal segment — purchased transportation changed year-over-year?
Forward Air's intermodal segment — purchased transportation decreased by 4.1% year-over-year, from $20.18M to $19.34M.
What is the long-term trend for Forward Air's intermodal segment — purchased transportation?
Over 3 years (2022 to 2025), Forward Air's intermodal segment — purchased transportation has grown at a -10.0% compound annual growth rate (CAGR), from $105.66M to $76.91M.
What does intermodal segment — purchased transportation mean?
This represents the costs incurred by the intermodal segment for third-party carriers or independent contractors used to move freight. As an asset-light operator, this expense is a critical indicator of the company's reliance on external capacity and its ability to manage variable logistics costs.