Forward Air (FWRD) Operating Leases (2019 - 2026)
Forward Air (FWRD) reported Operating Leases of $277.38 million for Q2 2026, down 17.0% from $334.32 million a year earlier and down 11.4% from the prior quarter.
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Analysis
Forward Air (FWRD) Operating Leases (2019 - 2026) Analysis & Trends
At the end of FY2025, Forward Air posted Operating Leases of $327.01 million, up 0.4% from FY2024.
- Operating Leases has a five-year compound annual growth rate of 32.4% (FY2020 to FY2025).
- By year, Operating Leases came in at $325.64 million in FY2024 (+354.8%), $71.6 million in FY2023 (-22.9%), $92.9 million in FY2022 (-8.4%) and $101.41 million in FY2021 (+26.2%).
- The Q2 2026 figure ranks as the lowest quarterly Operating Leases since Q3 2024.
- Year over year, Operating Leases gained in six of the last eight quarters, with growth averaging 79.5%.
- The high point for year-over-year Operating Leases in five years was Q4 2024 (growth of 354.8%); the low point was Q4 2023 (a decline of 22.9%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $313.15 million (Q1 2026), $327.01 million (Q4 2025) and $327.94 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 162.85 Bn | 157.37 Bn | - |
| 2 | Csx | 86.62 Bn | 82.84 Bn | - |
| 3 | Canadian Pacific Kansas City | 76.11 Bn | 75.83 Bn | - |
| 4 | United Parcel Service | 70.66 Bn | 47.58 Bn | - |
| 5 | Norfolk Southern | 70.32 Bn | 64.96 Bn | - |
| 6 | Fedex | 68.53 Bn | 34.48 Bn | - |
| 7 | Delta Air Lines | 55.25 Bn | 37.43 Bn | - |
| 8 | Old Dominion Freight Line | 36.69 Bn | 35.95 Bn | - |
| 9 | Ryanair Holdings | 28.78 Bn | 12.78 Bn | 3.13 Bn |
| 10 | Forward Air | 515.15 Mn | -18.91 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 277.38 Mn |
| Mar 31, 2026 | 313.15 Mn |
| Dec 31, 2025 | 327.01 Mn |
| Sep 30, 2025 | 327.94 Mn |
| Jun 30, 2025 | 334.32 Mn |
| Mar 31, 2025 | 324.96 Mn |
| Dec 31, 2024 | 325.64 Mn |
| Sep 30, 2024 | 275.84 Mn |
| Jun 30, 2024 | 243.22 Mn |
| Mar 31, 2024 | 246.96 Mn |
| Dec 31, 2023 | 71.60 Mn |
| Sep 30, 2023 | 87.94 Mn |
| Jun 30, 2023 | 96.80 Mn |
| Mar 31, 2023 | 102.70 Mn |
| Dec 31, 2022 | 92.90 Mn |
| Sep 30, 2022 | 102.89 Mn |
| Jun 30, 2022 | 106.55 Mn |
| Mar 31, 2022 | 105.77 Mn |
| Dec 31, 2021 | 101.41 Mn |
| Sep 30, 2021 | 97.18 Mn |
API Access
Forward Air Operating Leases 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=operating-leases&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "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=operating-leases&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();