Forward Air (FWRD) EBT Margin (2009 - 2026)
Forward Air's EBT Margin was -36.26% in Q2 2026, down 30.26 percentage points from -6.00% a year earlier and down 29.66 percentage points from the prior quarter.
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Analysis
Forward Air (FWRD) EBT Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Forward Air's EBT Margin was -13.94% through Jun 30, 2026, down 10.76 percentage points year-over-year; for FY2025, it was -5.90%, up 44.61 percentage points from FY2024.
- EBT Margin shows a five-year change of -11.36 percentage points (FY2020 to FY2025).
- In earlier years, EBT Margin was -50.51% in FY2024 (-54.65 pp), 4.13% in FY2023 (-10.30 pp), 14.43% in FY2022 (+4.15 pp) and 10.29% in FY2021 (+4.82 pp).
- The Q2 2026 figure marks the lowest quarterly EBT Margin since Q2 2024.
- Compared with a year earlier, EBT Margin was higher in five of the last eight quarters, with an average year-over-year change of +18.37 percentage points.
- The best year-over-year quarter for EBT Margin over five years was Q2 2025 (a gain of 171.33 percentage points); the worst was Q2 2024 (a drop of 184.45 percentage points).
- Per Business Quant data, FWRD's EBT Margin in the three quarters before Q2 2026 was -6.60% (Q1 2026), -7.15% (Q4 2025) and -3.70% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 162.83 Bn | 157.35 Bn | - | 37.22% |
| 2 | Csx | 86.94 Bn | 83.15 Bn | - | 33.55% |
| 3 | Canadian Pacific Kansas City | 76.07 Bn | 75.78 Bn | - | 32.64% |
| 4 | United Parcel Service | 70.39 Bn | 47.31 Bn | - | 3.33% |
| 5 | Norfolk Southern | 70.35 Bn | 64.99 Bn | - | 27.68% |
| 6 | Fedex | 68.01 Bn | 33.95 Bn | - | 8.43% |
| 7 | Delta Air Lines | 55.83 Bn | 38.01 Bn | - | 10.17% |
| 8 | Old Dominion Freight Line | 36.82 Bn | 36.08 Bn | - | 30.08% |
| 9 | Ryanair Holdings | 28.96 Bn | 12.97 Bn | 3.13 Bn | 13.52% |
| 10 | Forward Air | 506.38 Mn | -27.68 Mn | - | -36.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -36.26% |
| 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% |
API Access
Forward Air EBT Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebt-margin&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt-margin", "ticker": "FWRD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebt-margin&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();