Forward Air (FWRD) Market Capitalization (2009 - 2026)
Forward Air's Market Capitalization came in at $455.77 million for Q2 2026, down 39.3% from $751.09 million a year earlier and down 13.7% from the prior quarter.
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Analysis
Forward Air (FWRD) Market Capitalization (2009 - 2026) Analysis & Trends
For FY2025, Forward Air's Market Capitalization was $783.16 million, down 18.4% from FY2024.
- Market Capitalization has declined in each of the last four years, with a five-year compound annual growth rate of -17.9% (FY2020 to FY2025).
- Going back by year, Market Capitalization was $959.8 million in FY2024 (-40.5%), $1.61 billion in FY2023 (-41.9%), $2.78 billion in FY2022 (-15.0%) and $3.27 billion in FY2021 (+55.6%).
- The Q2 2026 figure represents the lowest quarterly Market Capitalization in data going back to Q2 2009.
- Year-over-year, Market Capitalization has declined for four consecutive quarters, with an average decline of 19.8% over the last eight quarters.
- The fastest year-over-year change in Market Capitalization over five years came in Q4 2021 (growth of 55.6%), and the weakest in Q2 2024 (a decline of 80.7%).
- Business Quant data shows FWRD's Market Capitalization at $528.01 million (Q1 2026), $783.16 million (Q4 2025) and $800.09 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 162.83 Bn | 157.35 Bn | - |
| 2 | Csx | 86.94 Bn | 83.15 Bn | - |
| 3 | Canadian Pacific Kansas City | 76.07 Bn | 75.78 Bn | - |
| 4 | United Parcel Service | 70.39 Bn | 47.31 Bn | - |
| 5 | Norfolk Southern | 70.35 Bn | 64.99 Bn | - |
| 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 | - |
| 9 | Ryanair Holdings | 28.96 Bn | 12.97 Bn | 3.13 Bn |
| 10 | Forward Air | 506.38 Mn | -27.68 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 455.77 Mn |
| Mar 31, 2026 | 528.01 Mn |
| Dec 31, 2025 | 783.16 Mn |
| Sep 30, 2025 | 800.09 Mn |
| Jun 30, 2025 | 751.09 Mn |
| Mar 31, 2025 | 611.00 Mn |
| Dec 31, 2024 | 959.80 Mn |
| Sep 30, 2024 | 1.02 Bn |
| Jun 30, 2024 | 527.39 Mn |
| Mar 31, 2024 | 822.50 Mn |
| Dec 31, 2023 | 1.61 Bn |
| Sep 30, 2023 | 1.76 Bn |
| Jun 30, 2023 | 2.74 Bn |
| Mar 31, 2023 | 2.81 Bn |
| Dec 31, 2022 | 2.78 Bn |
| Sep 30, 2022 | 2.40 Bn |
| Jun 30, 2022 | 2.47 Bn |
| Mar 31, 2022 | 2.63 Bn |
| Dec 31, 2021 | 3.27 Bn |
| Sep 30, 2021 | 2.24 Bn |
API Access
Forward Air Market Capitalization 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=market-capitalization&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "market-capitalization", "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=market-capitalization&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();