Forward Air (FWRD) EV to EBITDA (2010 - 2026)
Forward Air's (FWRD) EV to EBITDA was 2.08 for Q1 2026, down 45.8% from the prior quarter.
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Analysis
Forward Air (FWRD) EV to EBITDA (2010 - 2026) Analysis & Trends
Over the twelve months ended Mar 31, 2026, Forward Air's EV to EBITDA came in at 0.42; for FY2025, it came in at 3.84.
- By year, EV to EBITDA came in at 10.25 in FY2023 (+8.9%), 9.41 in FY2022 (-47.0%) and 17.74 in FY2021 (-4.3%).
- The Q1 2026 figure ranks as the lowest quarterly EV to EBITDA in data going back to Q1 2010.
- The high point for year-over-year EV to EBITDA in five years was Q1 2024 (growth of 109.4%); the low point was Q4 2022 (a decline of 47.0%).
- Per Business Quant data, the three quarters before Q1 2026 came in at 3.84 (Q4 2025), 2.70 (Q3 2025) and 2.76 (Q2 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 |
|---|---|
| Mar 31, 2026 | 2.08 |
| Dec 31, 2025 | 3.84 |
| Sep 30, 2025 | 2.70 |
| Jun 30, 2025 | 2.76 |
| Mar 31, 2024 | 20.67 |
| Dec 31, 2023 | 10.25 |
| Sep 30, 2023 | 9.94 |
| Jun 30, 2023 | 11.63 |
| Mar 31, 2023 | 9.87 |
| Dec 31, 2022 | 9.41 |
| Sep 30, 2022 | 8.22 |
| Jun 30, 2022 | 9.54 |
| Mar 31, 2022 | 11.74 |
| Dec 31, 2021 | 17.74 |
| Sep 30, 2021 | 13.22 |
| Jun 30, 2021 | 16.31 |
| Mar 31, 2021 | 20.37 |
| Dec 31, 2020 | 18.54 |
| Sep 30, 2020 | 12.38 |
| Jun 30, 2020 | 10.13 |
API Access
Forward Air EV to EBITDA 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-ebitda&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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-ebitda&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();