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Forward Air FWRD Liabilities under tax receivable agreement

Liabilities under tax receivable agreement at other companies

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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 fwrd:LiabilitiesUnderTaxReceivableAgreementNoncurrent.

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 liabilities under tax receivable agreement?
Forward Air (FWRD) reported liabilities under tax receivable agreement of $28.26M in Q1 2026.
How has Forward Air's liabilities under tax receivable agreement changed year-over-year?
Forward Air's liabilities under tax receivable agreement increased by 112.5% year-over-year, from $13.3M to $28.26M.
What does liabilities under tax receivable agreement mean?
This represents the long-term financial obligation to pay tax savings realized by the company to former owners or shareholders, typically arising from historical business combinations or restructuring events. It reflects the present value of future cash payments that the company is contractually required to make as it utilizes specific tax attributes. Investors monitor this liability to assess future cash outflows that are contingent upon the company's ability to generate taxable income.