What is Forward Air's united states federal — revenue?

Forward Air (FWRD) reported united states federal — revenue of $541.27M in Q4 2025.

What does united states federal — revenue mean?

This metric represents the total gross revenue generated from operations within the United States Federal geographic segment. It reflects the company's ability to capture market share and demand for logistics and freight services specifically within the federal government sector. Tracking this revenue stream helps investors assess the company's exposure to government-contracted business and its performance in specialized public sector logistics.

Forward Air FWRD United States Federal — Revenue

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OIIUNITED STATES — Revenue

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ICFIUS Federal Government — Revenue

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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:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Forward Air’s 10-K, filed March 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Forward Air's united states federal — revenue?: Forward Air (FWRD) reported united states federal — revenue of $541.27M in Q4 2025.
What does united states federal — revenue mean?: This metric represents the total gross revenue generated from operations within the United States Federal geographic segment. It reflects the company's ability to capture market share and demand for logistics and freight services specifically within the federal government sector. Tracking this revenue stream helps investors assess the company's exposure to government-contracted business and its performance in specialized public sector logistics.