Forward Air (FWRD) Net Margin (2009 - 2026)
Forward Air's (FWRD) quarterly Net Margin came in at 6.91% in Q1 2026, up 307.0% YoY from 1.7% in Q1 2025, and up 30.78% on a QoQ basis from 9.98% in Q1 2025.
Forward Air (FWRD) Net Margin (2009 - 2026) Analysis & Trends
Forward Air (FWRD) has 18 years of Net Margin data on file, last reported at 6.91% in Q1 2026.
- Quarterly Net Margin rose 307.0% year-over-year to 6.91% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 1.63% (up 102.0% YoY) and the FY2024 annual result came in at 0.26%, down 934.0% from the prior year.
- Net Margin advanced to 6.91% in Q1 2026, from 9.98% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 34.41% in Q4 2023 to a low of 9.98% in Q1 2025.
- A 5-year average of 1.7% and a median of 0.69% in 2023 frame the typical range for Net Margin.
- Annual changes were most pronounced in 2023 — Net Margin soared 3344 bps — and 2024, when it tumbled 3447 bps.
- Tracing FWRD's Net Margin over 5 years: 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 | 87.24 Bn | 82.59 Bn | 19.65 Bn | 2.65% |
| 2 | Fedex | 77.35 Bn | 64.04 Bn | 18.84 Bn | 6.39% |
| 3 | Hunt J B Transport Services | 25.86 Bn | 25.86 Bn | - | 5.18% |
| 4 | Expeditors International Of Washington | 24.43 Bn | 23.40 Bn | 1.09 Bn | 7.63% |
| 5 | C. H. Robinson Worldwide | 17.04 Bn | 16.89 Bn | 1.11 Bn | 3.79% |
| 6 | ZTO Express (Cayman) | 17.03 Bn | 12.62 Bn | 469.01 Mn | 15.95% |
| 7 | Landstar System | 6.19 Bn | 5.84 Bn | 308.86 Mn | 3.42% |
| 8 | GXO Logistics | 5.22 Bn | 4.45 Bn | 508.00 Mn | 0.78% |
| 9 | Pitney Bowes | 2.21 Bn | 1.93 Bn | 296.14 Mn | 11.05% |
| 10 | Forward Air | 577.19 Mn | 437.74 Mn | 617.46 Mn | -36.54% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -0.31% |
| 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% |