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Forward Air FWRD Return on assets

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-3.2%-1.4pp

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.

Based on trailing twelve months.

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 return on assets?
Forward Air (FWRD) reported return on assets of -3.3% in Q1 2026.
How has Forward Air's return on assets changed year-over-year?
Forward Air's return on assets increased by 86.0% year-over-year, from -23.8% to -3.3%.
What is the long-term trend for Forward Air's return on assets?
Over 5 years (2020 to 2025), Forward Air's return on assets has grown at a 10.9% compound annual growth rate (CAGR), from 2.3% to -3.9%.
What does return on assets mean?
Trailing-twelve-month net income divided by average total assets. Measures how efficiently the asset base generates profit, independent of how those assets are financed. Computed as net income over average total assets — note this is OpenCapital's standard definition and may differ from data vendors that use alternative numerators.