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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Forward Air (FWRD) Debt to Equity (2016 - 2025)

Forward Air (FWRD) has disclosed Debt to Equity for 17 consecutive years, with $14.89 as the latest value for Q4 2025.

  • For the quarter ending Q4 2025, Debt to Equity rose 77.39% year-over-year to $14.89, compared with a TTM value of $14.89 through Dec 2025, up 77.39%, and an annual FY2025 reading of $14.89, up 77.39% over the prior year.
  • Debt to Equity was $14.89 for Q4 2025 at Forward Air, up from $8.68 in the prior quarter.
  • Across five years, Debt to Equity topped out at $14.89 in Q4 2025 and bottomed at $0.02 in Q4 2023.
  • Average Debt to Equity over 5 years is $3.19, with a median of $0.29 recorded in 2021.
  • The sharpest move saw Debt to Equity tumbled 89.9% in 2023, then skyrocketed 50619.82% in 2024.
  • Year by year, Debt to Equity stood at $0.27 in 2021, then tumbled by 39.78% to $0.16 in 2022, then crashed by 89.9% to $0.02 in 2023, then soared by 50619.82% to $8.39 in 2024, then soared by 77.39% to $14.89 in 2025.
  • Business Quant data shows Debt to Equity for FWRD at $14.89 in Q4 2025, $8.68 in Q3 2025, and $7.85 in Q2 2025.