Forward Air (FWRD) Enterprise Value (2009 - 2026)
Forward Air (FWRD) recorded Enterprise Value of $309.09 million in Q2 2026, down 57.1% from $720.41 million a year earlier and down 27.8% from the prior quarter.
Powered by 
Analysis
Forward Air (FWRD) Enterprise Value (2009 - 2026) Analysis & Trends
On a TTM basis, Forward Air's Enterprise Value came in at -$78.28 million as of Jun 30, 2026; for FY2025, it was $725.49 million, down 22.7% from FY2024.
- Annual Enterprise Value has declined for four straight years, with a five-year compound annual growth rate of -18.8% (FY2020 to FY2025).
- Across earlier years, Enterprise Value came in at $939.04 million in FY2024 (-37.1%), $1.49 billion in FY2023 (-45.3%), $2.73 billion in FY2022 (-15.4%) and $3.23 billion in FY2021 (+56.8%).
- The Q2 2026 figure is the lowest quarterly Enterprise Value in data going back to Q2 2009.
- On a year-over-year basis, Enterprise Value has declined for four consecutive quarters, with an average decline of 27.7% over the last eight quarters.
- Peak year-over-year performance for Enterprise Value in the last five years was growth of 56.8% in Q4 2021, against a decline of 80.8% in Q2 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $428.26 million (Q1 2026), $725.49 million (Q4 2025) and $715.8 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 162.83 Bn | 157.35 Bn | - |
| 2 | Csx | 86.94 Bn | 83.15 Bn | - |
| 3 | Canadian Pacific Kansas City | 76.07 Bn | 75.78 Bn | - |
| 4 | United Parcel Service | 70.39 Bn | 47.31 Bn | - |
| 5 | Norfolk Southern | 70.35 Bn | 64.99 Bn | - |
| 6 | Fedex | 68.01 Bn | 33.95 Bn | - |
| 7 | Delta Air Lines | 55.83 Bn | 38.01 Bn | - |
| 8 | Old Dominion Freight Line | 36.82 Bn | 36.08 Bn | - |
| 9 | Ryanair Holdings | 28.96 Bn | 12.97 Bn | 3.13 Bn |
| 10 | Forward Air | 506.38 Mn | -27.68 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 309.09 Mn |
| Mar 31, 2026 | 428.26 Mn |
| Dec 31, 2025 | 725.49 Mn |
| Sep 30, 2025 | 715.80 Mn |
| Jun 30, 2025 | 720.41 Mn |
| Mar 31, 2025 | 567.06 Mn |
| Dec 31, 2024 | 939.04 Mn |
| Sep 30, 2024 | 989.43 Mn |
| Jun 30, 2024 | 522.95 Mn |
| Mar 31, 2024 | 1.08 Bn |
| Dec 31, 2023 | 1.49 Bn |
| Sep 30, 2023 | 1.75 Bn |
| Jun 30, 2023 | 2.72 Bn |
| Mar 31, 2023 | 2.78 Bn |
| Dec 31, 2022 | 2.73 Bn |
| Sep 30, 2022 | 2.35 Bn |
| Jun 30, 2022 | 2.42 Bn |
| Mar 31, 2022 | 2.56 Bn |
| Dec 31, 2021 | 3.23 Bn |
| Sep 30, 2021 | 2.19 Bn |
API Access
Forward Air Enterprise Value 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=enterprise-value&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "enterprise-value", "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=enterprise-value&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();