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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's Gross Margin history spans 17 years, with the latest figure at 99.34% for Q4 2025.

  • For Q4 2025, Gross Margin fell 3427.0% year-over-year to 99.34%; the TTM value through Dec 2025 reached 99.19%, down 876.0%, while the annual FY2025 figure was 99.19%, 6.0% up from the prior year.
  • Gross Margin reached 99.34% in Q4 2025 per FWRD's latest filing, roughly flat from 99.2% in the prior quarter.
  • In the past five years, Gross Margin ranged from a high of 133.61% in Q4 2024 to a low of 48.27% in Q4 2023.
  • Average Gross Margin over 5 years is 93.43%, with a median of 98.71% recorded in 2023.
  • Peak YoY movement for Gross Margin: crashed -3678bps in 2022, then skyrocketed 8534bps in 2024.
  • A 5-year view of Gross Margin shows it stood at 93.2% in 2021, then crashed by -39bps to 56.42% in 2022, then decreased by -14bps to 48.27% in 2023, then skyrocketed by 177bps to 133.61% in 2024, then fell by -26bps to 99.34% in 2025.
  • Per Business Quant, the three most recent readings for FWRD's Gross Margin are 99.34% (Q4 2025), 99.2% (Q3 2025), and 99.15% (Q2 2025).