Forward Air (FWRD) EBITDA Margin (2009 - 2026)
Forward Air (FWRD) reported EBITDA Margin of 6.17% for Q1 2026, up 376.0% on a YoY basis from 1.3% in Q1 2025, and down 30.45% quarter-over-quarter from 4.73% in Q4 2025.
Forward Air (FWRD) EBITDA Margin (2009 - 2026) Analysis & Trends
Forward Air has reported EBITDA Margin for 18 years, with the latest figure at 6.17% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin rose 376.0% year-over-year to 6.17%; the trailing twelve-month figure through Mar 2026 stood at 3.96% (up 4101.0% YoY), and the FY2025 full-year result was 4.19%, up 2894.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 6.17%, down from 4.73% in the prior quarter.
- The five-year high for EBITDA Margin was 30.06% in Q4 2023, with the low at 151.04% in Q2 2024.
- Historically, EBITDA Margin has averaged 6.52% across 5 years, with a median of 1.3% in 2025.
- Annual changes were most pronounced in 2024 — EBITDA Margin slumped 15702 bps — and 2025, when it surged 14974 bps.
- Forward Air's EBITDA Margin stood at 10.65% in 2022, then jumped by 182 bps to 30.06% in 2023, then sank by 120 bps to 6.06% in 2024, then advanced by 22 bps to 4.73% in 2025, then plunged by 30 bps to 6.17% in 2026.
- The last three EBITDA Margin figures came in at 6.17% (Q1 2026), 4.73% (Q4 2025), and 3.76% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 92.26 Bn | 86.49 Bn | 18.44 Bn | 5.98% |
| 2 | Fedex | 78.12 Bn | 66.43 Bn | 20.49 Bn | 5.62% |
| 3 | Hunt J B Transport Services | 26.94 Bn | 26.93 Bn | 2.88 Bn | 6.77% |
| 4 | C. H. Robinson Worldwide | 22.05 Bn | 21.89 Bn | 1.50 Bn | 3.66% |
| 5 | Expeditors International Of Washington | 21.79 Bn | 20.48 Bn | 2.84 Bn | -20.02% |
| 6 | Landstar System | 7.42 Bn | 7.01 Bn | 1.16 Bn | 4.55% |
| 7 | GXO Logistics | 5.58 Bn | 4.83 Bn | 490.00 Mn | 3.79% |
| 8 | ZTO Express (Cayman) | 2.73 Bn | -774.03 Mn | 469.01 Mn | 16.16% |
| 9 | Pitney Bowes | 2.47 Bn | 2.16 Bn | 375.39 Mn | -4.51% |
| 10 | Forward Air | 326.09 Mn | 226.34 Mn | 526.45 Mn | -6.17% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -6.17% |
| Dec 31, 2025 | -4.73% |
| Sep 30, 2025 | -3.76% |
| Jun 30, 2025 | -1.30% |
| Mar 31, 2025 | -9.93% |
| Dec 31, 2024 | -6.06% |
| Sep 30, 2024 | -11.16% |
| Jun 30, 2024 | -151.04% |
| Mar 31, 2024 | -11.42% |
| Dec 31, 2023 | 30.06% |
| Sep 30, 2023 | 2.72% |
| Jun 30, 2023 | 5.98% |
| Mar 31, 2023 | 10.17% |
| Dec 31, 2022 | 10.65% |
| Sep 30, 2022 | 12.03% |
| Jun 30, 2022 | 12.54% |
| Mar 31, 2022 | 10.64% |
| Dec 31, 2021 | 12.05% |
| Sep 30, 2021 | 5.61% |
| Jun 30, 2021 | 7.29% |