Growth Metrics

Forward Air (FWRD) EBITDA (2016 - 2026)

Forward Air filings provide 18 years of EBITDA readings, the most recent being -$35.9 million for Q1 2026.

  • On a quarterly basis, EBITDA rose 41.03% to -$35.9 million in Q1 2026 year-over-year; TTM through Mar 2026 was -$97.5 million, a 91.48% increase, with the full-year FY2025 number at -$104.5 million, up 87.25% from a year prior.
  • EBITDA hit -$35.9 million in Q1 2026 for Forward Air, down from -$29.9 million in the prior quarter.
  • In the past five years, EBITDA ranged from a high of $101.7 million in Q4 2023 to a low of -$972.2 million in Q2 2024.
  • Median EBITDA over the past 5 years was -$8.0 million (2025), compared with a mean of -$55.5 million.
  • Biggest five-year swings in EBITDA: soared 281.77% in 2022 and later crashed 4972.92% in 2024.
  • Forward Air's EBITDA stood at $42.9 million in 2022, then skyrocketed by 136.93% to $101.7 million in 2023, then tumbled by 137.67% to -$38.3 million in 2024, then rose by 22.06% to -$29.9 million in 2025, then dropped by 20.28% to -$35.9 million in 2026.
  • The last three reported values for EBITDA were -$35.9 million (Q1 2026), -$29.9 million (Q4 2025), and -$23.7 million (Q3 2025) per Business Quant data.