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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 - 2026)

Forward Air filings provide 18 years of Operating Margin readings, the most recent being 3.51% for Q1 2026.

  • On a quarterly basis, Operating Margin rose 274.0% to 3.51% in Q1 2026 year-over-year; TTM through Mar 2026 was 2.11%, a 4110.0% increase, with the full-year FY2025 number at 1.46%, up 4442.0% from a year prior.
  • Operating Margin hit 3.51% in Q1 2026 for Forward Air, up from 0.45% in the prior quarter.
  • In the past five years, Operating Margin ranged from a high of 17.08% in Q2 2022 to a low of 170.24% in Q2 2024.
  • Median Operating Margin over the past 5 years was 3.46% (2024), compared with a mean of 4.33%.
  • Biggest five-year swings in Operating Margin: plummeted -17813bps in 2024 and later soared 17339bps in 2025.
  • Forward Air's Operating Margin stood at 10.68% in 2022, then tumbled by -92bps to 0.89% in 2023, then skyrocketed by 1252bps to 11.99% in 2024, then tumbled by -104bps to 0.45% in 2025, then surged by 873bps to 3.51% in 2026.
  • The last three reported values for Operating Margin were 3.51% (Q1 2026), 0.45% (Q4 2025), and 2.38% (Q3 2025) per Business Quant data.