Forward Air (FWRD) FCF Margin (2009 - 2026)
Forward Air's (FWRD) quarterly FCF Margin came in at 6.66% in Q1 2026, up 410.0% YoY from 1.31% in Q1 2025, and up 235.36% on a QoQ basis from 4.92% in Q4 2025.
Forward Air (FWRD) FCF Margin (2009 - 2026) Analysis & Trends
Forward Air (FWRD) has 18 years of FCF Margin data on file, last reported at 6.66% in Q1 2026.
- Quarterly FCF Margin rose 410.0% year-over-year to 6.66% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 1.56% (up 288.0% YoY) and the FY2025 annual result came in at 0.61%, up 490.0% from the prior year.
- FCF Margin improved to 6.66% in Q1 2026, from 4.92% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 17.84% in Q3 2022 to a low of 10.46% in Q1 2024.
- A 5-year average of 5.27% and a median of 6.66% in 2026 frame the typical range for FCF Margin.
- Annual changes were most pronounced in 2024 — FCF Margin plunged 2565 bps — and 2025, when it jumped 1302 bps.
- Tracing FWRD's FCF Margin over 5 years: 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 | 87.24 Bn | 82.59 Bn | 19.65 Bn | 0.73% |
| 2 | Fedex | 77.35 Bn | 64.04 Bn | 18.84 Bn | 7.16% |
| 3 | Hunt J B Transport Services | 25.86 Bn | 25.86 Bn | - | 7.25% |
| 4 | Expeditors International Of Washington | 24.43 Bn | 23.40 Bn | 1.09 Bn | 4.76% |
| 5 | C. H. Robinson Worldwide | 17.04 Bn | 16.89 Bn | 1.11 Bn | 0.46% |
| 6 | ZTO Express (Cayman) | 17.03 Bn | 12.62 Bn | 469.01 Mn | 20.91% |
| 7 | Landstar System | 6.19 Bn | 5.84 Bn | 308.86 Mn | -3.72% |
| 8 | GXO Logistics | 5.22 Bn | 4.45 Bn | 508.00 Mn | 0.32% |
| 9 | Pitney Bowes | 2.21 Bn | 1.93 Bn | 296.14 Mn | 29.77% |
| 10 | Forward Air | 577.19 Mn | 437.74 Mn | 617.46 Mn | -1.20% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -1.20% |
| 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 | 6.99% |