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Forward Air FWRD Network — Total operating revenues

Other product segments

Ground
$408.72M
Contract Logistics
$112.33M
Air and Ocean
$93.36M
Truckload
$69.24M+62.4%
Intermodal
$58.63M

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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-24.8%
Enterprise value$2.62B-10.6%
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:RevenueFromContractWithCustomerExcludingAssessedTax.

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
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Expedited Freight revenues:
Network (1)$225,971$193,829$414,148$383,991
Truckload69,23742,636131,78181,891
Other23,85421,23145,84041,195
Total Expedited Freight revenues$319,062$257,696$591,769$507,077

Item 1. Financial Statements

FAQ

What is Forward Air's network — total operating revenues?
Forward Air (FWRD) reported network — total operating revenues of $225.97M in Q2 2026.
How has Forward Air's network — total operating revenues changed year-over-year?
Forward Air's network — total operating revenues increased by 16.6% year-over-year, from $193.83M to $225.97M.
What is the long-term trend for Forward Air's network — total operating revenues?
Over 4 years (2021 to 2025), Forward Air's network — total operating revenues has grown at a -1.6% compound annual growth rate (CAGR), from $813.72M to $761.94M.
What does network — total operating revenues mean?
This metric represents the total gross revenue generated by the company's specific network-based logistics and freight operations. It captures the aggregate income from services provided within this segment, reflecting the scale and market demand for the company's core transportation infrastructure. Monitoring this figure helps investors assess the top-line performance and growth trajectory of the segment's specialized service offerings.

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