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Income Statement
Consolidated Net IncomeCost of RevenueDepreciation & Amortization - TotalEBITEBITDAEBTEPS (Basic)EPS (Weighted Average and Diluted)Gross ProfitIncome from Continuing OperationsIncome from Non-Controlling InterestsIncome towards Parent CompanyInterest ExpensesInterest ExpensesNet Income towards Common StockholdersNon Operating IncomeOperating ExpensesOperating IncomeOther Non Operating IncomeOther Operating ExpensesProfit After TaxRent ExpenseRevenueShares OutstandingShares Outstanding (Weighted Average)Tax ProvisionsTax RateTax RateWages, Salaries and Other
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Forward Air (FWRD) EBITDA (2016 - 2025)

Forward Air's EBITDA history spans 17 years, with the latest figure at -$62.8 million for Q4 2025.

  • For Q4 2025, EBITDA fell 122.7% year-over-year to -$62.8 million; the TTM value through Dec 2025 reached -$152.7 million, up 82.2%, while the annual FY2025 figure was -$137.4 million, 83.24% up from the prior year.
  • EBITDA reached -$62.8 million in Q4 2025 per FWRD's latest filing, down from -$23.7 million in the prior quarter.
  • In the past five years, EBITDA ranged from a high of $276.6 million in Q4 2024 to a low of -$972.2 million in Q2 2024.
  • Average EBITDA over 5 years is -$26.8 million, with a median of $21.7 million recorded in 2021.
  • Peak YoY movement for EBITDA: soared 416.74% in 2021, then tumbled 4972.92% in 2024.
  • A 5-year view of EBITDA shows it stood at $49.2 million in 2021, then dropped by 12.73% to $42.9 million in 2022, then skyrocketed by 136.93% to $101.7 million in 2023, then soared by 171.86% to $276.6 million in 2024, then crashed by 122.7% to -$62.8 million in 2025.
  • Per Business Quant, the three most recent readings for FWRD's EBITDA are -$62.8 million (Q4 2025), -$23.7 million (Q3 2025), and -$15.8 million (Q2 2025).