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Forward Air FWRD Increase in liabilities under tax receivable agreement

Other financials

Income statement

Revenue$582.0M-5.1%

Operating income$20.4M+329%

Net income-$34.3M+32.2%

EPS (diluted)-$1.09+35.1%

Balance sheet

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

Operating cash flow$45.7M+65.6%

CapEx$6.9M-41.7%

Free cash flow$38.8M+147%

Valuation

Market cap$451.92M-33.0%

Enterprise value$2.46B-9.2%

P/S0.2×-0.1×

Profitability

Gross margin48.7%—

Operating margin2.2%+1.1pp

Net margin-3.7%-1.7pp

FCF margin0.6%+0.3pp

Returns & leverage

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 fwrd:IncreaseInLiabilitiesUnderTaxReceivableAgreement.

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 increase in liabilities under tax receivable agreement?: Forward Air (FWRD) reported increase in liabilities under tax receivable agreement of $16.71M in Q1 2026.