Forward Air (FWRD) Debt to Equity (2009 - 2026)

Forward Air has reported Debt to Equity for 18 years, with the latest figure at $20.87 in Q1 2026.

• For the quarter ending Q1 2026, Debt to Equity rose 179.29% year-over-year to $20.87; the trailing twelve-month figure through Mar 2026 stood at $20.87 (up 179.29% YoY), and the FY2025 full-year result was $14.89, up 151.38% from the prior year.
• Debt to Equity for Q1 2026 stood at $20.87, up from $14.89 in the prior quarter.
• The five-year high for Debt to Equity was $20.87 in Q1 2026, with the low at $0.02 in Q4 2023.
• Historically, Debt to Equity has averaged $4.6 across 5 years, with a median of $1.27 in 2024.
• Annual changes were most pronounced in 2023 — Debt to Equity plunged 89.9% — and 2024, when it soared 35691.37%.
• Forward Air's Debt to Equity stood at $0.16 in 2022, then sank by 89.9% to $0.02 in 2023, then soared by 35691.37% to $5.92 in 2024, then surged by 151.38% to $14.89 in 2025, then surged by 40.18% to $20.87 in 2026.
• The last three Debt to Equity figures came in at $20.87 (Q1 2026), $14.89 (Q4 2025), and $8.68 (Q3 2025), per Business Quant data.