What is Forward Air's quick ratio?

Forward Air (FWRD) reported quick ratio of 1.2× in Q1 2026.

How has Forward Air's quick ratio changed year-over-year?

Forward Air's quick ratio increased by 9.0% year-over-year, from 1.1× to 1.2×.

What is the long-term trend for Forward Air's quick ratio?

Over 5 years (2020 to 2025), Forward Air's quick ratio has grown at a -3.2% compound annual growth rate (CAGR), from 1.4× to 1.2×.

What does quick ratio mean?

Current assets excluding inventory, divided by current liabilities at the quarter end (the 'acid-test'). A stricter liquidity measure that excludes the least-liquid current asset.

Forward Air FWRD Quick ratio

Quick ratio at other companies

Old Dominion Freight LineODFL

1.6×+0.2×

C.H. Robinson WorldwideCHRW

1.6×+0.3×

FedExFDX

1.5×+0.3×

United Parcel Service, Inc.UPS

1.2×+0.1×

XPO

XPOXPO

1×0.0×

RXORXO

1.3×0.0×

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

Calculated from Forward Air’s reported figures.

quick assets/total current liabilities=1.2×

Based on the most recent quarter.

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 quick ratio?: Forward Air (FWRD) reported quick ratio of 1.2× in Q1 2026.
How has Forward Air's quick ratio changed year-over-year?: Forward Air's quick ratio increased by 9.0% year-over-year, from 1.1× to 1.2×.
What is the long-term trend for Forward Air's quick ratio?: Over 5 years (2020 to 2025), Forward Air's quick ratio has grown at a -3.2% compound annual growth rate (CAGR), from 1.4× to 1.2×.
What does quick ratio mean?: Current assets excluding inventory, divided by current liabilities at the quarter end (the 'acid-test'). A stricter liquidity measure that excludes the least-liquid current asset.