Forward Air (FWRD) Net Margin (2009 - 2026)
Forward Air (FWRD) reported Net Margin of 6.91% for Q1 2026, up 307.0% on a YoY basis from 1.7% in Q1 2025, and up 30.78% quarter-over-quarter from 9.98% in Q1 2025.
Forward Air (FWRD) Net Margin (2009 - 2026) Analysis & Trends
Forward Air has reported Net Margin for 18 years, with the latest figure at 6.91% in Q1 2026.
- For the quarter ending Q1 2026, Net Margin rose 307.0% year-over-year to 6.91%; the trailing twelve-month figure through Mar 2026 stood at 1.63% (up 102.0% YoY), and the FY2024 full-year result was 0.26%, down 934.0% from the prior year.
- Net Margin for Q1 2026 stood at 6.91%, up from 9.98% in the prior quarter.
- The five-year high for Net Margin was 34.41% in Q4 2023, with the low at 9.98% in Q1 2025.
- Historically, Net Margin has averaged 1.7% across 5 years, with a median of 0.69% in 2023.
- Annual changes were most pronounced in 2023 — Net Margin soared 3344 bps — and 2024, when it tumbled 3447 bps.
- Forward Air's Net Margin stood at 0.98% in 2022, then surged by 3427 bps to 34.41% in 2023, then tumbled by 100 bps to 0.06% in 2024, then sank by 16783 bps to 9.98% in 2025, then soared by 31 bps to 6.91% in 2026.
- The last three Net Margin figures came in at 6.91% (Q1 2026), 9.98% (Q1 2025), and 0.06% (Q4 2024), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 92.26 Bn | 86.49 Bn | 18.44 Bn | 4.08% |
| 2 | Fedex | 78.12 Bn | 66.43 Bn | 20.49 Bn | 4.40% |
| 3 | Hunt J B Transport Services | 26.94 Bn | 26.93 Bn | 2.88 Bn | 4.63% |
| 4 | C. H. Robinson Worldwide | 22.05 Bn | 21.89 Bn | 1.50 Bn | 3.67% |
| 5 | Expeditors International Of Washington | 21.79 Bn | 20.48 Bn | 2.84 Bn | -12.71% |
| 6 | Landstar System | 7.42 Bn | 7.01 Bn | 1.16 Bn | 3.37% |
| 7 | GXO Logistics | 5.58 Bn | 4.83 Bn | 490.00 Mn | 0.15% |
| 8 | ZTO Express (Cayman) | 2.73 Bn | -774.03 Mn | 469.01 Mn | 15.95% |
| 9 | Pitney Bowes | 2.47 Bn | 2.16 Bn | 375.39 Mn | 12.18% |
| 10 | Forward Air | 326.09 Mn | 226.34 Mn | 526.45 Mn | -6.91% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -6.91% |
| Mar 31, 2025 | -9.98% |
| Dec 31, 2024 | -0.06% |
| Sep 30, 2024 | -0.17% |
| Jun 30, 2024 | -0.76% |
| Dec 31, 2023 | 34.41% |
| Sep 30, 2023 | 0.82% |
| Jun 30, 2023 | 0.85% |
| Mar 31, 2023 | 0.69% |
| Dec 31, 2022 | 0.98% |
| Sep 30, 2022 | 0.84% |
| Jun 30, 2022 | 0.90% |
| Mar 31, 2022 | 0.55% |
| Dec 31, 2021 | 6.21% |
| Sep 30, 2021 | -1.66% |
| Mar 31, 2021 | -1.53% |
| Dec 31, 2020 | -5.59% |
| Sep 30, 2020 | -0.10% |
| Jun 30, 2020 | -2.16% |
| Mar 31, 2020 | -0.99% |