Forward Air (FWRD) Interest Coverage Ratio (2009 - 2026)
Forward Air's (FWRD) Interest Coverage Ratio was -4.60 for Q2 2026, compared with 0.43 a year earlier.
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Analysis
Forward Air (FWRD) Interest Coverage Ratio (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Forward Air's Interest Coverage Ratio came in at -0.95; for FY2025, it came in at 0.20.
- By year, Interest Coverage Ratio came in at -5.62 in FY2024, 2.79 in FY2023 (-94.2%), 48.19 in FY2022 (+42.2%) and 33.89 in FY2021 (+109.1%).
- The Q2 2026 figure ranks as the lowest quarterly Interest Coverage Ratio since Q2 2024.
- The high point for year-over-year Interest Coverage Ratio in five years was Q1 2026 (growth of 348.5%); the low point was Q4 2023 (a decline of 99.5%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 0.47 (Q1 2026), -0.06 (Q4 2025) and 0.34 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Interest Cover (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 162.83 Bn | 157.35 Bn | - | 8.83 |
| 2 | Csx | 86.94 Bn | 83.15 Bn | - | 7.14 |
| 3 | Canadian Pacific Kansas City | 76.07 Bn | 75.78 Bn | - | - |
| 4 | United Parcel Service | 70.39 Bn | 47.31 Bn | - | 3.42 |
| 5 | Norfolk Southern | 70.35 Bn | 64.99 Bn | - | 5.71 |
| 6 | Fedex | 68.01 Bn | 33.95 Bn | - | - |
| 7 | Delta Air Lines | 55.83 Bn | 38.01 Bn | - | - |
| 8 | Old Dominion Freight Line | 36.82 Bn | 36.08 Bn | - | 6,122.38 |
| 9 | Ryanair Holdings | 28.96 Bn | 12.97 Bn | 3.13 Bn | 38.62 |
| 10 | Forward Air | 506.38 Mn | -27.68 Mn | - | -4.60 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -4.60 |
| Mar 31, 2026 | 0.47 |
| Dec 31, 2025 | -0.06 |
| Sep 30, 2025 | 0.34 |
| Jun 30, 2025 | 0.43 |
| Mar 31, 2025 | 0.10 |
| Dec 31, 2024 | 1.57 |
| Sep 30, 2024 | 0.43 |
| Jun 30, 2024 | -23.18 |
| Mar 31, 2024 | -1.61 |
| Dec 31, 2023 | 0.13 |
| Sep 30, 2023 | 4.40 |
| Jun 30, 2023 | 10.18 |
| Mar 31, 2023 | 20.04 |
| Dec 31, 2022 | 26.61 |
| Sep 30, 2022 | 46.42 |
| Jun 30, 2022 | 63.32 |
| Mar 31, 2022 | 73.15 |
| Dec 31, 2021 | 45.27 |
| Sep 30, 2021 | 43.65 |
API Access
Forward Air Interest Coverage Ratio 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=interest-coverage-ratio&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "interest-coverage-ratio", "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=interest-coverage-ratio&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();