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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) Return on Invested Capital (2016 - 2025)

Forward Air's Return on Invested Capital history spans 16 years, with the latest figure at 0.03% for Q4 2025.

  • For Q4 2025, Return on Invested Capital rose 270.0% year-over-year to 0.03%; the TTM value through Dec 2025 reached 0.03%, up 270.0%, while the annual FY2025 figure was 0.13%, 181.0% up from the prior year.
  • Return on Invested Capital reached 0.03% in Q4 2025 per FWRD's latest filing, down from 0.22% in the prior quarter.
  • In the past five years, Return on Invested Capital ranged from a high of 0.97% in Q2 2025 to a low of 3.18% in Q1 2025.
  • Average Return on Invested Capital over 5 years is 0.28%, with a median of 0.16% recorded in 2021.
  • The largest YoY upside for Return on Invested Capital was 270bps in 2025 against a maximum downside of -317bps in 2025.
  • A 5-year view of Return on Invested Capital shows it stood at 0.17% in 2021, then skyrocketed by 35bps to 0.23% in 2022, then plummeted by -63bps to 0.08% in 2023, then plummeted by -3279bps to 2.66% in 2024, then skyrocketed by 101bps to 0.03% in 2025.
  • Per Business Quant, the three most recent readings for FWRD's Return on Invested Capital are 0.03% (Q4 2025), 0.22% (Q3 2025), and 0.97% (Q2 2025).