Forward Air (FWRD) EBT Margin (2009 - 2026)
Forward Air (FWRD) reported EBT Margin of 6.6% for Q1 2026, up 19.0% on a YoY basis from 5.54% in Q1 2025, and up 7.67% quarter-over-quarter from 7.15% in Q4 2025.
Forward Air (FWRD) EBT Margin (2009 - 2026) Analysis & Trends
Forward Air has reported EBT Margin for 18 years, with the latest figure at 6.6% in Q1 2026.
- For the quarter ending Q1 2026, EBT Margin rose 19.0% year-over-year to 6.6%; the trailing twelve-month figure through Mar 2026 stood at 5.84% (up 4068.0% YoY), and the FY2025 full-year result was 5.9%, up 4461.0% from the prior year.
- EBT Margin for Q1 2026 stood at 6.6%, up from 7.15% in the prior quarter.
- The five-year high for EBT Margin was 16.81% in Q2 2022, with the low at 177.33% in Q2 2024.
- Historically, EBT Margin has averaged 9.05% across 5 years, with a median of 3.7% in 2025.
- Annual changes were most pronounced in 2024 — EBT Margin sank 18445 bps — and 2025, when it surged 17133 bps.
- Forward Air's EBT Margin stood at 10.28% in 2022, then tumbled by 160 bps to 6.2% in 2023, then jumped by 181 bps to 5.0% in 2024, then slumped by 243 bps to 7.15% in 2025, then increased by 8 bps to 6.6% in 2026.
- The last three EBT Margin figures came in at 6.6% (Q1 2026), 7.15% (Q4 2025), and 3.7% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 92.26 Bn | 86.49 Bn | 18.44 Bn | 5.30% |
| 2 | Fedex | 78.12 Bn | 66.43 Bn | 20.49 Bn | 5.26% |
| 3 | Hunt J B Transport Services | 26.94 Bn | 26.93 Bn | 2.88 Bn | 6.19% |
| 4 | C. H. Robinson Worldwide | 22.05 Bn | 21.89 Bn | 1.50 Bn | 4.15% |
| 5 | Expeditors International Of Washington | 21.79 Bn | 20.48 Bn | 2.84 Bn | -10.09% |
| 6 | Landstar System | 7.42 Bn | 7.01 Bn | 1.16 Bn | 4.50% |
| 7 | GXO Logistics | 5.58 Bn | 4.83 Bn | 490.00 Mn | 0.52% |
| 8 | ZTO Express (Cayman) | 2.73 Bn | -774.03 Mn | 469.01 Mn | 19.46% |
| 9 | Pitney Bowes | 2.47 Bn | 2.16 Bn | 375.39 Mn | 16.86% |
| 10 | Forward Air | 326.09 Mn | 226.34 Mn | 526.45 Mn | -6.60% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -6.60% |
| Dec 31, 2025 | -7.15% |
| Sep 30, 2025 | -3.70% |
| Jun 30, 2025 | -6.00% |
| Mar 31, 2025 | -6.78% |
| Dec 31, 2024 | 5.00% |
| Sep 30, 2024 | -5.02% |
| Jun 30, 2024 | -177.33% |
| Mar 31, 2024 | -19.78% |
| Dec 31, 2023 | -6.20% |
| Sep 30, 2023 | 2.65% |
| Jun 30, 2023 | 7.12% |
| Mar 31, 2023 | 12.54% |
| Dec 31, 2022 | 10.28% |
| Sep 30, 2022 | 16.19% |
| Jun 30, 2022 | 16.81% |
| Mar 31, 2022 | 14.10% |
| Dec 31, 2021 | 21.02% |
| Sep 30, 2021 | 9.89% |
| Jun 30, 2021 | 9.70% |