Forward Air (FWRD) Total Debt (2009 - 2026)
Forward Air (FWRD) recorded Total Debt of $1.69 billion in Q2 2026, down 0.3% from $1.7 billion a year earlier but up 0.2% from the prior quarter.
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Analysis
Forward Air (FWRD) Total Debt (2009 - 2026) Analysis & Trends
Starting with Q4 2009, Forward Air's Total Debt history includes 65 quarters.
- Annual Total Debt has a five-year compound annual growth rate of 71.4% (FY2020 to FY2025).
- Across earlier years, Total Debt came in at $1.69 billion in FY2024, $12.65 million in FY2023 (-89.1%), $115.9 million in FY2022 (-28.3%) and $161.55 million in FY2021 (+41.5%).
- Quarterly Total Debt has ranged from $12.65 million in Q4 2023 to $1.7 billion in Q3 2025 over the past five years.
- On a year-over-year basis, Total Debt has declined for three consecutive quarters, with an average year-over-year change of 0.0% over the last six quarters.
- Peak year-over-year performance for Total Debt in the last five years was growth of 942.7% in Q1 2024, against a decline of 89.1% in Q4 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $1.69 billion (Q1 2026), $1.69 billion (Q4 2025) and $1.7 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 162.85 Bn | 157.37 Bn | - | 30.33 Bn |
| 2 | Csx | 86.62 Bn | 82.84 Bn | - | 18.86 Bn |
| 3 | Canadian Pacific Kansas City | 76.11 Bn | 75.83 Bn | - | 18.18 Bn |
| 4 | United Parcel Service | 70.66 Bn | 47.58 Bn | - | 24.48 Bn |
| 5 | Norfolk Southern | 70.32 Bn | 64.96 Bn | - | 16.62 Bn |
| 6 | Fedex | 68.53 Bn | 34.48 Bn | - | 25.71 Bn |
| 7 | Delta Air Lines | 55.25 Bn | 37.43 Bn | - | 15.05 Bn |
| 8 | Old Dominion Freight Line | 36.69 Bn | 35.95 Bn | - | 20.00 Mn |
| 9 | Ryanair Holdings | 28.78 Bn | 12.78 Bn | 3.13 Bn | 67.07 Mn |
| 10 | Forward Air | 515.15 Mn | -18.91 Mn | - | 1.69 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.69 Bn |
| Mar 31, 2026 | 1.69 Bn |
| Dec 31, 2025 | 1.69 Bn |
| Sep 30, 2025 | 1.70 Bn |
| Jun 30, 2025 | 1.70 Bn |
| Mar 31, 2025 | 1.70 Bn |
| Dec 31, 2024 | 1.69 Bn |
| Sep 30, 2024 | 1.69 Bn |
| Jun 30, 2024 | 1.69 Bn |
| Mar 31, 2024 | 1.69 Bn |
| Dec 31, 2023 | 12.65 Mn |
| Sep 30, 2023 | 133.91 Mn |
| Jun 30, 2023 | 133.73 Mn |
| Mar 31, 2023 | 162.30 Mn |
| Dec 31, 2022 | 115.90 Mn |
| Sep 30, 2022 | 114.83 Mn |
| Jun 30, 2022 | 154.78 Mn |
| Mar 31, 2022 | 161.19 Mn |
| Dec 31, 2021 | 161.55 Mn |
| Sep 30, 2021 | 163.15 Mn |
API Access
Forward Air Total Debt 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=total-debt&ticker=FWRD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "total-debt", "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=total-debt&ticker=FWRD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();