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Forward Air FWRD Total Revenue

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Segments

By product

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Ground$408.72M
Network$225.97M+16.6%
Contract Logistics$112.33M
Air and Ocean$93.36M
Truckload$69.24M+62.4%
Intermodal$58.63M

By segment

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Omni Logistics$338.55M+3.1%
Expedited Freight$319.06M+23.8%
Intermodal$59.72M+1.0%

By geography

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Foreign Operations$330.04M

Other financials

Income statement

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Operating income-$201.3M-1,131%
Net income-$207.3M-1,547%
EPS (diluted)-$6.38-1,456%

Balance sheet

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Cash & equivalents$139.4M+46.3%
Total debt$2.1B-2.4%
Total equity-$115.4M-176%
Total assets$2.4B-12.7%

Cash flow

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Operating cash flow$45.7M+65.6%
CapEx$3.2M-32.3%
Free cash flow$38.8M+147%

Valuation

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Market cap$653.66M-24.8%
Enterprise value$2.62B-10.6%
P/S0.3×-0.1×

Profitability

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Gross margin48.7%
Operating margin-6.6%-8.5pp
Net margin-11.4%+21.6pp
FCF margin0.6%+0.3pp

Returns & leverage

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Return on equity-77.6%-25.2pp
Debt / equity26.5×+12.6×
Current ratio1.3×+0.1×

Where this comes from

Reported directly by Forward Air in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Forward Air’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:07 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053329
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Operating revenues$673,036$618,844$1,255,082$1,232,125
Operating expenses:
Purchased transportation335,892303,300619,669607,562
Salaries, wages and employee benefits130,040145,490245,616287,405
Operating leases50,25249,50599,96598,298
Depreciation and amortization38,26236,80676,78374,166
Insurance and claims13,67815,53627,17630,542
Fuel expense6,6445,27811,57110,927

Item 1. Financial Statements

FAQ

What is Forward Air's total revenue?
Forward Air (FWRD) reported total revenue of $673.04M in Q2 2026.
How has Forward Air's total revenue changed year-over-year?
Forward Air's total revenue increased by 8.8% year-over-year, from $618.84M to $673.04M.
What is the long-term trend for Forward Air's total revenue?
Over 4 years (2021 to 2025), Forward Air's total revenue has grown at a 15.8% compound annual growth rate (CAGR), from $1.39B to $2.5B.
What does total revenue mean?
The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

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