Forward Air (FWRD) EV to CFO (2010 - 2026)
Forward Air's (FWRD) EV to CFO was 4.36 for Q2 2026, down 74.4% from 17.03 a year earlier and down 36.3% from the prior quarter.
Powered by 
Analysis
Forward Air (FWRD) EV to CFO (2010 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Forward Air's EV to CFO came in at -1.11; for FY2025, it came in at 16.35.
- By year, EV to CFO came in at 7.49 in FY2023 (-31.4%), 10.91 in FY2022 (-59.2%) and 26.77 in FY2021 (+25.0%).
- The Q2 2026 figure ranks as the lowest quarterly EV to CFO in data going back to Q2 2010.
- Year over year, EV to CFO gained in two of the last five quarters, with growth averaging 195.6%.
- The high point for year-over-year EV to CFO in five years was Q3 2024 (growth of 878.8%); the low point was Q1 2026 (a decline of 87.5%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 6.85 (Q1 2026), 16.35 (Q4 2025) and 16.32 (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 | 4.36 |
| Mar 31, 2026 | 6.85 |
| Dec 31, 2025 | 16.35 |
| Sep 30, 2025 | 16.32 |
| Jun 30, 2025 | 17.03 |
| Mar 31, 2025 | 54.95 |
| Sep 30, 2024 | 87.39 |
| Mar 31, 2024 | 12.43 |
| Dec 31, 2023 | 7.49 |
| Sep 30, 2023 | 8.93 |
| Jun 30, 2023 | 10.67 |
| Mar 31, 2023 | 11.17 |
| Dec 31, 2022 | 10.91 |
| Sep 30, 2022 | 10.03 |
| Jun 30, 2022 | 12.51 |
| Mar 31, 2022 | 15.43 |
| Dec 31, 2021 | 26.77 |
| Sep 30, 2021 | 22.23 |
| Jun 30, 2021 | 31.43 |
| Mar 31, 2021 | 29.22 |
API Access
Forward Air EV to CFO 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=ev-to-cfo&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "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=ev-to-cfo&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();