Forward Air (FWRD) Price to Book (2009 - 2026)
Forward Air's (FWRD) Price to Book stood at 4.32 in Q1 2026, up 60.4% from 2.69 a year earlier but down 10.9% from the prior quarter.
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Analysis
Forward Air (FWRD) Price to Book (2009 - 2026) Analysis & Trends
For FY2025, Forward Air's Price to Book came in at 4.84, up 44.3% from FY2024.
- Across earlier years, Price to Book came in at 3.36 in FY2024 (+59.0%), 2.11 in FY2023 (-46.2%), 3.92 in FY2022 (-28.7%) and 5.50 in FY2021 (+43.4%).
- Quarterly Price to Book has ranged from 0.62 in Q1 2024 to 5.50 in Q4 2021 over the past five years.
- On a year-over-year basis, Price to Book has increased for seven consecutive quarters, with growth averaging 77.9% over the last eight quarters.
- Peak year-over-year performance for Price to Book in the last five years was growth of 336.0% in Q1 2025, against a decline of 84.9% in Q1 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 4.84 (Q4 2025), 4.09 (Q3 2025) and 3.47 (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Union Pacific | 161.62 Bn | 156.15 Bn | - |
| 2 | Csx | 86.16 Bn | 82.37 Bn | - |
| 3 | Canadian Pacific Kansas City | 74.78 Bn | 74.50 Bn | - |
| 4 | United Parcel Service | 70.01 Bn | 46.94 Bn | - |
| 5 | Norfolk Southern | 69.45 Bn | 64.09 Bn | - |
| 6 | Fedex | 67.46 Bn | 33.40 Bn | - |
| 7 | Delta Air Lines | 54.88 Bn | 37.06 Bn | - |
| 8 | Old Dominion Freight Line | 36.07 Bn | 35.33 Bn | - |
| 9 | Ryanair Holdings | 28.71 Bn | 12.72 Bn | 3.13 Bn |
| 10 | Forward Air | 514.47 Mn | -19.58 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 4.32 |
| Dec 31, 2025 | 4.84 |
| Sep 30, 2025 | 4.09 |
| Jun 30, 2025 | 3.47 |
| Mar 31, 2025 | 2.69 |
| Dec 31, 2024 | 3.36 |
| Sep 30, 2024 | 3.02 |
| Jun 30, 2024 | 1.46 |
| Mar 31, 2024 | 0.62 |
| Dec 31, 2023 | 2.11 |
| Sep 30, 2023 | 2.65 |
| Jun 30, 2023 | 4.06 |
| Mar 31, 2023 | 4.09 |
| Dec 31, 2022 | 3.92 |
| Sep 30, 2022 | 3.52 |
| Jun 30, 2022 | 3.72 |
| Mar 31, 2022 | 4.29 |
| Dec 31, 2021 | 5.50 |
| Sep 30, 2021 | 4.03 |
| Jun 30, 2021 | 4.42 |
API Access
Forward Air Price to Book 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=price-to-book&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();