Forward Air (FWRD) Accumulated Expenses (2009 - 2026)
Forward Air (FWRD) reported Accumulated Expenses of $118.55 million for Q2 2026, up 2.5% from $115.61 million a year earlier but down 11.0% from the prior quarter.
Powered by 
Analysis
Forward Air (FWRD) Accumulated Expenses (2009 - 2026) Analysis & Trends
At the end of FY2025, Forward Air posted Accumulated Expenses of $114.42 million, down 4.5% from FY2024.
- Accumulated Expenses has a five-year compound annual growth rate of 17.4% (FY2020 to FY2025).
- By year, Accumulated Expenses came in at $119.84 million in FY2024 (+90.4%), $62.95 million in FY2023 (+26.1%), $49.92 million in FY2022 (-19.0%) and $61.62 million in FY2021 (+20.2%).
- Five-year quarterly Accumulated Expenses spans a low of $49.92 million in Q4 2022 and a high of $146.79 million in Q3 2025.
- Year over year, Accumulated Expenses gained in five of the last eight quarters, with growth averaging 31.0%.
- The high point for year-over-year Accumulated Expenses in five years was Q3 2024 (growth of 139.8%); the low point was Q1 2023 (a decline of 20.6%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $133.14 million (Q1 2026), $114.42 million (Q4 2025) and $146.79 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 161.62 Bn | 156.15 Bn | - |
| 2 | Csx | 86.16 Bn | 82.37 Bn | - |
| 3 | Canadian Pacific Kansas City | 74.78 Bn | 74.50 Bn | - |
| 4 | United Parcel Service | 70.01 Bn | 46.94 Bn | - |
| 5 | Norfolk Southern | 69.45 Bn | 64.09 Bn | - |
| 6 | Fedex | 67.46 Bn | 33.40 Bn | - |
| 7 | Delta Air Lines | 54.88 Bn | 37.06 Bn | - |
| 8 | Old Dominion Freight Line | 36.07 Bn | 35.33 Bn | - |
| 9 | Ryanair Holdings | 28.71 Bn | 12.72 Bn | 3.13 Bn |
| 10 | Forward Air | 514.47 Mn | -19.58 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 118.55 Mn |
| Mar 31, 2026 | 133.14 Mn |
| Dec 31, 2025 | 114.42 Mn |
| Sep 30, 2025 | 146.79 Mn |
| Jun 30, 2025 | 115.61 Mn |
| Mar 31, 2025 | 143.53 Mn |
| Dec 31, 2024 | 119.84 Mn |
| Sep 30, 2024 | 135.59 Mn |
| Jun 30, 2024 | 117.43 Mn |
| Mar 31, 2024 | 118.96 Mn |
| Dec 31, 2023 | 62.95 Mn |
| Sep 30, 2023 | 56.55 Mn |
| Jun 30, 2023 | 53.27 Mn |
| Mar 31, 2023 | 52.81 Mn |
| Dec 31, 2022 | 49.92 Mn |
| Sep 30, 2022 | 67.98 Mn |
| Jun 30, 2022 | 64.36 Mn |
| Mar 31, 2022 | 66.47 Mn |
| Dec 31, 2021 | 61.62 Mn |
| Sep 30, 2021 | 63.58 Mn |
API Access
Forward Air Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "FWRD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();