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Ratios
Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Forward Air (FWRD) Operating Margin (2016 - 2025)

Forward Air (FWRD) has disclosed Operating Margin for 17 consecutive years, with 0.45% as the latest value for Q4 2025.

  • For the quarter ending Q4 2025, Operating Margin fell 1244.0% year-over-year to 0.45%, compared with a TTM value of 1.46% through Dec 2025, up 4442.0%, and an annual FY2025 reading of 1.46%, up 4442.0% over the prior year.
  • Operating Margin was 0.45% for Q4 2025 at Forward Air, down from 2.38% in the prior quarter.
  • Across five years, Operating Margin topped out at 22.96% in Q4 2022 and bottomed at 170.24% in Q2 2024.
  • Average Operating Margin over 5 years is 1.49%, with a median of 7.45% recorded in 2021.
  • The sharpest move saw Operating Margin tumbled -17929bps in 2024, then surged 17339bps in 2025.
  • Year by year, Operating Margin stood at 8.63% in 2021, then skyrocketed by 166bps to 22.96% in 2022, then plummeted by -101bps to 0.26% in 2023, then skyrocketed by 4678bps to 11.99% in 2024, then tumbled by -104bps to 0.45% in 2025.
  • Business Quant data shows Operating Margin for FWRD at 0.45% in Q4 2025, 2.38% in Q3 2025, and 3.15% in Q2 2025.