Forward Air (FWRD) Interest Expenses (2009 - 2026)
Forward Air (FWRD) recorded Interest Expenses of $43.72 million in Q2 2026, down 3.5% from $45.33 million a year earlier but up 0.3% from the prior quarter.
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Analysis
Forward Air (FWRD) Interest Expenses (2009 - 2026) Analysis & Trends
On a TTM basis, Forward Air's Interest Expenses came in at $177.18 million as of Jun 30, 2026, down 7.8% year-over-year; for FY2025, it came in at $180.75 million, down 4.5% from FY2024.
- Annual Interest Expenses has a five-year compound annual growth rate of 108.7% (FY2020 to FY2025).
- Across earlier years, Interest Expenses came in at $189.22 million in FY2024 (+499.3%), $31.57 million in FY2023 (+514.5%), $5.14 million in FY2022 (+18.4%) and $4.34 million in FY2021 (-4.9%).
- Quarterly Interest Expenses has ranged from $784,000 in Q1 2022 to $52.77 million in Q3 2024 over the past five years.
- On a year-over-year basis, Interest Expenses has declined for five consecutive quarters, with growth averaging 11.4% over the last seven quarters.
- Peak year-over-year performance for Interest Expenses in the last five years was growth of 200.4% in Q1 2023, against a decline of 32.7% in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $43.59 million (Q1 2026), $45.1 million (Q4 2025) and $44.78 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Int Expense (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 161.62 Bn | 156.15 Bn | - | 313.00 Mn |
| 2 | Csx | 86.16 Bn | 82.37 Bn | - | 211.00 Mn |
| 3 | Canadian Pacific Kansas City | 74.78 Bn | 74.50 Bn | - | - |
| 4 | United Parcel Service | 70.01 Bn | 46.94 Bn | - | 272.00 Mn |
| 5 | Norfolk Southern | 69.45 Bn | 64.09 Bn | - | 197.00 Mn |
| 6 | Fedex | 67.46 Bn | 33.40 Bn | - | - |
| 7 | Delta Air Lines | 54.88 Bn | 37.06 Bn | - | - |
| 8 | Old Dominion Freight Line | 36.07 Bn | 35.33 Bn | - | 76,000.00 |
| 9 | Ryanair Holdings | 28.71 Bn | 12.72 Bn | 3.13 Bn | -17.32 Mn |
| 10 | Forward Air | 514.47 Mn | -19.58 Mn | - | 43.72 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 43.72 Mn |
| Mar 31, 2026 | 43.59 Mn |
| Dec 31, 2025 | 45.10 Mn |
| Sep 30, 2025 | 44.78 Mn |
| Jun 30, 2025 | 45.33 Mn |
| Mar 31, 2025 | 45.55 Mn |
| Dec 31, 2024 | 48.43 Mn |
| Sep 30, 2024 | 52.77 Mn |
| Jun 30, 2024 | 47.27 Mn |
| Mar 31, 2024 | 40.75 Mn |
| Dec 31, 2023 | 23.98 Mn |
| Sep 30, 2023 | 2.66 Mn |
| Jun 30, 2023 | 2.59 Mn |
| Mar 31, 2023 | 2.36 Mn |
| Dec 31, 2022 | 1.62 Mn |
| Sep 30, 2022 | 1.54 Mn |
| Jun 30, 2022 | 1.19 Mn |
| Mar 31, 2022 | 784,000.00 |
| Dec 31, 2021 | 877,000.00 |
| Sep 30, 2021 | 973,000.00 |
API Access
Forward Air Interest Expenses 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-expenses&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "interest-expenses", "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-expenses&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();