Forward Air (FWRD) EV to FCF (2010 - 2026)
Forward Air's (FWRD) EV to FCF stood at 6.41 in Q2 2026, down 92.9% from 90.13 a year earlier and down 42.6% from the prior quarter.
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Analysis
Forward Air (FWRD) EV to FCF (2010 - 2026) Analysis & Trends
On a TTM basis, Forward Air's EV to FCF came in at -1.62 as of Jun 30, 2026; for FY2025, it came in at 47.52.
- Across earlier years, EV to FCF came in at 8.85 in FY2023 (-31.6%), 12.94 in FY2022 (-67.0%) and 39.26 in FY2021 (+44.6%).
- The Q2 2026 figure is the lowest quarterly EV to FCF in data going back to Q2 2010.
- Peak year-over-year performance for EV to FCF in the last five years was growth of 107.0% in Q3 2021, against a decline of 92.9% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 11.17 (Q1 2026), 47.52 (Q4 2025) and 45.16 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 161.62 Bn | 156.15 Bn | - |
| 2 | Csx | 86.16 Bn | 82.37 Bn | - |
| 3 | Canadian Pacific Kansas City | 74.78 Bn | 74.50 Bn | - |
| 4 | United Parcel Service | 70.01 Bn | 46.94 Bn | - |
| 5 | Norfolk Southern | 69.45 Bn | 64.09 Bn | - |
| 6 | Fedex | 67.46 Bn | 33.40 Bn | - |
| 7 | Delta Air Lines | 54.88 Bn | 37.06 Bn | - |
| 8 | Old Dominion Freight Line | 36.07 Bn | 35.33 Bn | - |
| 9 | Ryanair Holdings | 28.71 Bn | 12.72 Bn | 3.13 Bn |
| 10 | Forward Air | 514.47 Mn | -19.58 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 6.41 |
| Mar 31, 2026 | 11.17 |
| Dec 31, 2025 | 47.52 |
| Sep 30, 2025 | 45.16 |
| Jun 30, 2025 | 90.13 |
| Mar 31, 2024 | 19.09 |
| Dec 31, 2023 | 8.91 |
| Sep 30, 2023 | 11.01 |
| Jun 30, 2023 | 12.53 |
| Mar 31, 2023 | 13.05 |
| Dec 31, 2022 | 12.94 |
| Sep 30, 2022 | 12.14 |
| Jun 30, 2022 | 16.69 |
| Mar 31, 2022 | 21.27 |
| Dec 31, 2021 | 39.26 |
| Sep 30, 2021 | 30.57 |
| Jun 30, 2021 | 38.94 |
| Mar 31, 2021 | 38.81 |
| Dec 31, 2020 | 27.15 |
| Sep 30, 2020 | 14.77 |
API Access
Forward Air EV to FCF 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-fcf&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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-fcf&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();