Forward Air (FWRD) EBITDA (2009 - 2026)
Forward Air's (FWRD) quarterly EBITDA came in at $20.4 million in Q1 2026, up 329.16% YoY from $4.8 million in Q1 2025, and up 812.73% on a QoQ basis from -$2.9 million in Q4 2025.
Forward Air (FWRD) EBITDA (2009 - 2026) Analysis & Trends
Forward Air (FWRD) has 18 years of EBITDA data on file, last reported at $20.4 million in Q1 2026.
- Quarterly EBITDA rose 329.16% year-over-year to $20.4 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $52.1 million (up 105.25% YoY) and the FY2025 annual result came in at $36.4 million, up 103.43% from the prior year.
- EBITDA rose to $20.4 million in Q1 2026, from -$2.9 million in the prior quarter.
- In the past five years, EBITDA ranged from a high of $75.9 million in Q4 2024 to a low of -$1.1 billion in Q2 2024.
- A 5-year average of -$39.4 million and a median of $20.4 million in 2026 frame the typical range for EBITDA.
- The widest YoY moves for EBITDA: up 2428.5% in 2024, down 4262.41% in 2024.
- Tracing FWRD's EBITDA over 5 years: stood at $43.0 million in 2022, then slumped by 93.03% to $3.0 million in 2023, then surged by 2428.5% to $75.9 million in 2024, then sank by 103.78% to -$2.9 million in 2025, then soared by 812.73% to $20.4 million in 2026.
- The last three EBITDA figures came in at $20.4 million (Q1 2026), -$2.9 million (Q4 2025), and $15.0 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 87.24 Bn | 82.59 Bn | 19.65 Bn | 930.00 Mn |
| 2 | Fedex | 77.35 Bn | 64.04 Bn | 18.84 Bn | 1.55 Bn |
| 3 | Hunt J B Transport Services | 25.86 Bn | 25.86 Bn | - | 259.50 Mn |
| 4 | Expeditors International Of Washington | 24.43 Bn | 23.40 Bn | 1.09 Bn | 349.62 Mn |
| 5 | C. H. Robinson Worldwide | 17.04 Bn | 16.89 Bn | 1.11 Bn | 255.74 Mn |
| 6 | ZTO Express (Cayman) | 17.03 Bn | 12.62 Bn | 469.01 Mn | 571.37 Mn |
| 7 | Landstar System | 6.19 Bn | 5.84 Bn | 308.86 Mn | 66.23 Mn |
| 8 | GXO Logistics | 5.22 Bn | 4.45 Bn | 508.00 Mn | 166.00 Mn |
| 9 | Pitney Bowes | 2.21 Bn | 1.93 Bn | 296.14 Mn | -89.87 Mn |
| 10 | Forward Air | 577.19 Mn | 437.74 Mn | 617.46 Mn | -201.31 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -201.31 Mn |
| Mar 31, 2026 | 20.44 Mn |
| Dec 31, 2025 | -2.87 Mn |
| Sep 30, 2025 | 15.01 Mn |
| Jun 30, 2025 | 19.52 Mn |
| Mar 31, 2025 | 4.76 Mn |
| Dec 31, 2024 | 75.86 Mn |
| Sep 30, 2024 | 22.70 Mn |
| Jun 30, 2024 | -1.10 Bn |
| Mar 31, 2024 | -65.73 Mn |
| Dec 31, 2023 | 3.00 Mn |
| Sep 30, 2023 | 11.69 Mn |
| Jun 30, 2023 | 26.33 Mn |
| Mar 31, 2023 | 47.20 Mn |
| Dec 31, 2022 | 43.03 Mn |
| Sep 30, 2022 | 71.67 Mn |
| Jun 30, 2022 | 75.55 Mn |
| Mar 31, 2022 | 57.35 Mn |
| Dec 31, 2021 | 39.70 Mn |
| Sep 30, 2021 | 42.48 Mn |