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Ratios
Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Forward Air (FWRD) Gross Margin (2016 - 2025)

Forward Air (FWRD) has disclosed Gross Margin for 17 consecutive years, with 99.34% as the latest value for Q4 2025.

  • For the quarter ending Q4 2025, Gross Margin fell 2626.0% year-over-year to 99.34%, compared with a TTM value of 99.19% through Dec 2025, up 6.0%, and an annual FY2025 reading of 99.19%, up 6.0% over the prior year.
  • Gross Margin was 99.34% for Q4 2025 at Forward Air, down from 113.14% in the prior quarter.
  • Across five years, Gross Margin topped out at 125.6% in Q4 2024 and bottomed at 6.29% in Q4 2022.
  • Average Gross Margin over 5 years is 89.54%, with a median of 89.79% recorded in 2021.
  • The sharpest move saw Gross Margin crashed -6864bps in 2022, then surged 7640bps in 2023.
  • Year by year, Gross Margin stood at 74.93% in 2021, then plummeted by -92bps to 6.29% in 2022, then surged by 1215bps to 82.69% in 2023, then skyrocketed by 52bps to 125.6% in 2024, then fell by -21bps to 99.34% in 2025.
  • Business Quant data shows Gross Margin for FWRD at 99.34% in Q4 2025, 113.14% in Q3 2025, and 84.92% in Q2 2025.