Forward Air (FWRD) Debt Ratio (2009 - 2026)
Forward Air's (FWRD) quarterly Debt Ratio came in at 0.63 in Q1 2026, up 3.65% YoY from 0.6 in Q1 2025, and up 1.04% on a QoQ basis from 0.62 in Q4 2025.
Forward Air (FWRD) Debt Ratio (2009 - 2026) Analysis & Trends
Forward Air (FWRD) has 18 years of Debt Ratio data on file, last reported at 0.63 in Q1 2026.
- Quarterly Debt Ratio rose 3.65% year-over-year to 0.63 in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 0.63 (up 3.65% YoY) and the FY2025 annual result came in at 0.62, up 2.74% from the prior year.
- Debt Ratio climbed to 0.63 in Q1 2026, from 0.62 in the prior quarter.
- In the past five years, Debt Ratio ranged from a high of 0.63 in Q1 2026 to a low of 0.0 in Q4 2023.
- A 5-year average of 0.36 and a median of 0.43 in 2024 frame the typical range for Debt Ratio.
- Annual changes were most pronounced in 2023 — Debt Ratio sank 95.58% — and 2024, when it surged 14132.56%.
- Tracing FWRD's Debt Ratio over 5 years: stood at 0.1 in 2022, then tumbled by 95.58% to 0.0 in 2023, then surged by 14132.56% to 0.6 in 2024, then grew by 2.74% to 0.62 in 2025, then increased by 1.04% to 0.63 in 2026.
- The last three Debt Ratio figures came in at 0.63 (Q1 2026), 0.62 (Q4 2025), and 0.61 (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 87.24 Bn | 82.59 Bn | 19.65 Bn | 0.34 |
| 2 | Fedex | 77.35 Bn | 64.04 Bn | 18.84 Bn | 0.25 |
| 3 | Hunt J B Transport Services | 25.86 Bn | 25.86 Bn | - | 0.14 |
| 4 | Expeditors International Of Washington | 24.43 Bn | 23.40 Bn | 1.09 Bn | - |
| 5 | C. H. Robinson Worldwide | 17.04 Bn | 16.89 Bn | 1.11 Bn | 0.29 |
| 6 | ZTO Express (Cayman) | 17.03 Bn | 12.62 Bn | 469.01 Mn | 0.00 |
| 7 | Landstar System | 6.19 Bn | 5.84 Bn | 308.86 Mn | - |
| 8 | GXO Logistics | 5.22 Bn | 4.45 Bn | 508.00 Mn | 0.26 |
| 9 | Pitney Bowes | 2.21 Bn | 1.93 Bn | 296.14 Mn | 0.68 |
| 10 | Forward Air | 577.19 Mn | 437.74 Mn | 617.46 Mn | 0.70 |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 0.70 |
| Mar 31, 2026 | 0.63 |
| Dec 31, 2025 | 0.62 |
| Sep 30, 2025 | 0.61 |
| Jun 30, 2025 | 0.62 |
| Mar 31, 2025 | 0.60 |
| Dec 31, 2024 | 0.60 |
| Sep 30, 2024 | 0.55 |
| Jun 30, 2024 | 0.55 |
| Mar 31, 2024 | 0.43 |
| Dec 31, 2023 | 0.00 |
| Sep 30, 2023 | 0.12 |
| Jun 30, 2023 | 0.12 |
| Mar 31, 2023 | 0.13 |
| Dec 31, 2022 | 0.10 |
| Sep 30, 2022 | 0.10 |
| Jun 30, 2022 | 0.13 |
| Mar 31, 2022 | 0.14 |
| Dec 31, 2021 | 0.14 |
| Sep 30, 2021 | 0.15 |