---
title: "Forward Air (FWRD.US) — Financial Reports"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/FWRD.US/norm.md"
symbol: "FWRD.US"
name: "Forward Air"
parent: "https://longbridge.com/en/quote/FWRD.US.md"
datetime: "2026-05-19T21:27:36.265Z"
locales:
  - [en](https://longbridge.com/en/quote/FWRD.US/norm.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/FWRD.US/norm.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/FWRD.US/norm.md)
---

# Forward Air (FWRD.US) — Financial Reports

## Income Statement (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| EPS | -1.09 | -0.9108 | -0.5247 | -0.4135 | -1.68 |
| ROE | -141.27% | -89.52% | -44.58% | -32.85% | -113.68% |
| Revenue | 582.05M | 631.23M | 631.76M | 618.84M | 613.28M |
| Net income | -34.32M | -28.33M | -16.25M | -12.58M | -50.64M |
| Operating income | 23.25M | 22.64M | 20.82M | 19.52M | 18.69M |
| Gross margin | 22.00% | 21.64% | 19.99% | 18.63% | 18.37% |
| Net margin | -5.90% | -4.49% | -2.57% | -2.03% | -8.26% |
| Profit quality | 50.84% | -99.63% | 39.50% | -147.70% | 67.68% |

## Balance Sheet (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| A&L | 2.70B | 2.72B | 2.79B | 2.76B | 2.80B |
| Leverage | 22.05 | 16.82 | 14.27 | 12.77 | 12.35 |
| BVPS | 2.56 | 3.62 | 4.48 | 4.96 | 5.08 |
| Turnover | 0.8960 | 0.9038 | 0.8536 | 0.8650 | 0.7528 |
| Cash & STI | 141.02M | 106.00M | 140.35M | 95.13M | 116.31M |
| Inv & Rec | - | - | - | - | - |
| LT assets | 689.36M | 710.42M | 721.39M | 740.86M | 739.85M |
| Net debt | 2.01B | 2.05B | 2.02B | 2.07B | 2.04B |

## Cash Flow Statement (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| Operating CF | 45.74M | -22.73M | 52.71M | -13.22M | 27.61M |
| Investing CF | -5.52M | -7.94M | -3.85M | -3.88M | -11.24M |
| Financing CF | -4.91M | -3.93M | -3.66M | -4.62M | -5.33M |
| Free CF | 71.79M | 9.31M | 77.30M | -2.60M | 83.20M |
| OCF coverage | 409.44% | -60.33% | 682.38% | -18.97% | 66.80% |
| Repaid & issued | - | 25.00M | 0.0000 | 60.00M | 25.00M |
| CapEx | -6.95M | -8.35M | -4.12M | -4.74M | -11.91M |

## Distribution Plan

### Dividend History

| Description | Record Date | Ex-Date | Payment Date |
|-------------|-------------|---------|--------------|
| Cash Dividend: 
0.24USD | 2023-11-22 | 2023-11-21 | 2023-12-07 |
| Cash Dividend: 
0.24USD | 2023-08-17 | 2023-08-16 | 2023-09-07 |
| Cash Dividend: 
0.24USD | 2023-05-25 | 2023-05-24 | 2023-06-13 |