Forward Air (FWRD) FCF Margin (2009 - 2026)
Forward Air (FWRD) reported FCF Margin of 6.66% for Q1 2026, up 410.0% on a YoY basis from 1.31% in Q1 2025, and up 235.36% quarter-over-quarter from 4.92% in Q4 2025.
Forward Air (FWRD) FCF Margin (2009 - 2026) Analysis & Trends
Forward Air has reported FCF Margin for 18 years, with the latest figure at 6.66% in Q1 2026.
- For the quarter ending Q1 2026, FCF Margin rose 410.0% year-over-year to 6.66%; the trailing twelve-month figure through Mar 2026 stood at 1.56% (up 288.0% YoY), and the FY2025 full-year result was 0.61%, up 490.0% from the prior year.
- FCF Margin for Q1 2026 stood at 6.66%, up from 4.92% in the prior quarter.
- The five-year high for FCF Margin was 17.84% in Q3 2022, with the low at 10.46% in Q1 2024.
- Historically, FCF Margin has averaged 5.27% across 5 years, with a median of 6.66% in 2026.
- Annual changes were most pronounced in 2024 — FCF Margin plunged 2565 bps — and 2025, when it jumped 1302 bps.
- Forward Air's FCF Margin stood at 9.8% in 2022, then soared by 46 bps to 14.32% in 2023, then plunged by 134 bps to 4.82% in 2024, then retreated by 2 bps to 4.92% in 2025, then soared by 235 bps to 6.66% in 2026.
- The last three FCF Margin figures came in at 6.66% (Q1 2026), 4.92% (Q4 2025), and 7.69% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 92.26 Bn | 86.49 Bn | 18.44 Bn | 5.63% |
| 2 | Fedex | 78.12 Bn | 66.43 Bn | 20.49 Bn | 4.33% |
| 3 | Hunt J B Transport Services | 26.94 Bn | 26.93 Bn | 2.88 Bn | 10.87% |
| 4 | C. H. Robinson Worldwide | 22.05 Bn | 21.89 Bn | 1.50 Bn | 1.64% |
| 5 | Expeditors International Of Washington | 21.79 Bn | 20.48 Bn | 2.84 Bn | 9.47% |
| 6 | Landstar System | 7.42 Bn | 7.01 Bn | 1.16 Bn | 6.18% |
| 7 | GXO Logistics | 5.58 Bn | 4.83 Bn | 490.00 Mn | -1.03% |
| 8 | ZTO Express (Cayman) | 2.73 Bn | -774.03 Mn | 469.01 Mn | 20.91% |
| 9 | Pitney Bowes | 2.47 Bn | 2.16 Bn | 375.39 Mn | 5.93% |
| 10 | Forward Air | 326.09 Mn | 226.34 Mn | 526.45 Mn | 6.66% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 6.66% |
| Dec 31, 2025 | -4.92% |
| Sep 30, 2025 | 7.69% |
| Jun 30, 2025 | -2.90% |
| Mar 31, 2025 | 2.56% |
| Dec 31, 2024 | -4.82% |
| Sep 30, 2024 | 6.21% |
| Jun 30, 2024 | -9.26% |
| Mar 31, 2024 | -10.46% |
| Dec 31, 2023 | 14.32% |
| Sep 30, 2023 | 5.52% |
| Jun 30, 2023 | 13.74% |
| Mar 31, 2023 | 15.19% |
| Dec 31, 2022 | 9.80% |
| Sep 30, 2022 | 17.84% |
| Jun 30, 2022 | 9.40% |
| Mar 31, 2022 | 13.11% |
| Dec 31, 2021 | 12.18% |
| Sep 30, 2021 | 6.83% |
| Jun 30, 2021 | 5.41% |