FORWARD AIR CORP — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that FORWARD AIR CORP filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2020 | Dec 31, 2020 | $350.34M | Mar 1, 2021 |
| FY2020 | Sep 30, 2020 | $332.00M | Mar 1, 2021 |
| FY2020 | Jun 30, 2020 | $281.68M | Mar 1, 2021 |
| FY2020 | Mar 31, 2020 | $305.56M | Mar 1, 2021 |
| FY2020 | Dec 31, 2019 | $319.66M | Mar 1, 2021 |
| FY2020 | Sep 30, 2019 | $313.68M | Mar 1, 2021 |
| FY2020 | Jun 30, 2019 | $302.89M | Mar 1, 2021 |
| FY2020 | Mar 31, 2019 | $278.96M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | $356.56M | Feb 24, 2020 |
| FY2019 | Sep 30, 2018 | $331.38M | Feb 24, 2020 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $2.50B | Mar 11, 2026 |
| FY2024 | Dec 31, 2024 | $632.85M | Mar 24, 2025 |
| FY2024 | Sep 30, 2024 | $655.94M | Mar 24, 2025 |
| FY2024 | Jun 30, 2024 | $643.67M | Mar 24, 2025 |
| FY2024 | Mar 31, 2024 | $541.81M | Mar 24, 2025 |
| FY2024 | Dec 31, 2023 | $338.43M | Mar 24, 2025 |
| FY2024 | Sep 30, 2023 | $340.98M | Mar 24, 2025 |
| FY2024 | Jun 30, 2023 | $333.62M | Mar 24, 2025 |
| FY2024 | Mar 31, 2023 | $357.71M | Mar 24, 2025 |
| FY2023 | Dec 31, 2022 | $403.04M | Mar 15, 2024 |
Revenue (Net Sales)
Net sales revenue — gross revenue less returns, allowances, and discounts. Used by many manufacturers and retailers as the primary top-line figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2010 | Dec 31, 2010 | $483.94M | Feb 24, 2011 |
| FY2010 | Dec 31, 2009 | $417.41M | Feb 24, 2011 |
| FY2010 | Dec 31, 2008 | $474.44M | Feb 24, 2011 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($107.80M) | Mar 11, 2026 |
| FY2024 | Dec 31, 2024 | ($36.42M) | Mar 24, 2025 |
| FY2024 | Sep 30, 2024 | ($73.41M) | Mar 24, 2025 |
| FY2024 | Jun 30, 2024 | ($645.43M) | Mar 24, 2025 |
| FY2024 | Mar 31, 2024 | ($61.71M) | Mar 24, 2025 |
| FY2024 | Dec 31, 2023 | $101.74M | Mar 24, 2025 |
| FY2024 | Sep 30, 2023 | $9.29M | Mar 24, 2025 |
| FY2024 | Jun 30, 2023 | $19.95M | Mar 24, 2025 |
| FY2024 | Mar 31, 2023 | $36.37M | Mar 24, 2025 |
| FY2023 | Dec 31, 2022 | $42.94M | Mar 15, 2024 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $36.42M | Mar 11, 2026 |
| FY2025 | Dec 31, 2024 | ($1.06B) | Mar 11, 2026 |
| FY2025 | Dec 31, 2023 | $88.21M | Mar 11, 2026 |
| FY2024 | Dec 31, 2022 | $247.59M | Mar 24, 2025 |
| FY2023 | Dec 31, 2021 | $147.03M | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $73.92M | Mar 1, 2023 |
| FY2019 | Dec 31, 2019 | $32.85M | Feb 24, 2020 |
| FY2019 | Sep 30, 2019 | $30.69M | Feb 24, 2020 |
| FY2019 | Jun 30, 2019 | $30.55M | Feb 24, 2020 |
| FY2019 | Mar 31, 2019 | $24.73M | Feb 24, 2020 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2019 | Dec 31, 2019 | $159.02M | Feb 24, 2020 |
| FY2019 | Dec 31, 2018 | $152.55M | Feb 24, 2020 |
| FY2019 | Dec 31, 2017 | $103.36M | Feb 24, 2020 |
| FY2018 | Dec 31, 2016 | $130.35M | Feb 20, 2019 |
| FY2017 | Dec 31, 2015 | $85.72M | Feb 23, 2018 |
| FY2016 | Dec 31, 2014 | $91.66M | Feb 22, 2017 |
| FY2015 | Dec 31, 2013 | $90.84M | Feb 19, 2016 |
| FY2014 | Dec 31, 2012 | $68.59M | Feb 20, 2015 |
| FY2013 | Dec 31, 2011 | $76.96M | Feb 19, 2014 |
| FY2012 | Dec 31, 2010 | $54.00M | Feb 15, 2013 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $29.12M | Mar 11, 2026 |
| FY2025 | Dec 31, 2024 | $37.06M | Mar 11, 2026 |
| FY2025 | Dec 31, 2023 | $30.73M | Mar 11, 2026 |
| FY2024 | Dec 31, 2022 | $39.25M | Mar 24, 2025 |
| FY2023 | Dec 31, 2021 | $38.38M | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $20.27M | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | $22.01M | Mar 1, 2022 |
| FY2020 | Dec 31, 2018 | $39.56M | Mar 1, 2021 |
| FY2019 | Dec 31, 2017 | $38.27M | Feb 24, 2020 |
| FY2018 | Dec 31, 2016 | $42.19M | Feb 20, 2019 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $2.72B | Mar 11, 2026 |
| FY2025 | Dec 31, 2024 | $2.80B | Mar 11, 2026 |
| FY2024 | Dec 31, 2023 | $2.98B | Mar 24, 2025 |
| FY2023 | Dec 31, 2022 | $1.21B | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | $1.12B | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | $1.05B | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $990.88M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | $760.22M | Feb 24, 2020 |
| FY2019 | Dec 31, 2017 | $692.62M | Feb 24, 2020 |
| FY2018 | Dec 31, 2016 | $644.05M | Feb 20, 2019 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $113.34M | Mar 11, 2026 |
| FY2025 | Dec 31, 2024 | $201.73M | Mar 11, 2026 |
| FY2024 | Dec 31, 2023 | $764.26M | Mar 24, 2025 |
| FY2023 | Dec 31, 2022 | $707.24M | Mar 15, 2024 |
| FY2023 | Dec 31, 2021 | $593.65M | Mar 15, 2024 |
| FY2023 | Dec 31, 2020 | $547.33M | Mar 15, 2024 |
| FY2022 | Dec 31, 2019 | $577.18M | Mar 1, 2023 |
| FY2021 | Dec 31, 2018 | $553.24M | Mar 1, 2022 |
| FY2020 | Dec 31, 2017 | $532.70M | Mar 1, 2021 |
| FY2019 | Dec 31, 2016 | $498.35M | Feb 24, 2020 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $522.71M | Mar 11, 2026 |
| FY2025 | Dec 31, 2024 | $522.71M | Mar 11, 2026 |
| FY2025 | Dec 31, 2023 | $278.71M | Mar 11, 2026 |
| FY2024 | Dec 31, 2022 | $257.99M | Mar 24, 2025 |
| FY2023 | Dec 31, 2021 | $218.56M | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $244.98M | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | $215.70M | Mar 1, 2022 |
| FY2020 | Dec 31, 2018 | $193.69M | Mar 1, 2021 |
| FY2018 | Dec 31, 2017 | $191.67M | Feb 20, 2019 |
| FY2017 | Dec 31, 2016 | $184.68M | Feb 23, 2018 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($447.10M) | Mar 11, 2026 |
| FY2025 | Dec 31, 2024 | ($338.23M) | Mar 11, 2026 |
| FY2024 | Dec 31, 2023 | $480.32M | Mar 24, 2025 |
| FY2023 | Dec 31, 2022 | $436.12M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | $334.91M | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | $304.14M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $350.03M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | $342.66M | Feb 24, 2020 |
| FY2018 | Dec 31, 2017 | $337.06M | Feb 20, 2019 |
| FY2017 | Dec 31, 2016 | $319.26M | Feb 23, 2018 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $106.00M | Mar 11, 2026 |
| FY2025 | Dec 31, 2024 | $104.90M | Mar 11, 2026 |
| FY2025 | Dec 31, 2023 | $121.97M | Mar 11, 2026 |
| FY2024 | Dec 31, 2022 | $45.82M | Mar 24, 2025 |
| FY2023 | Dec 31, 2021 | $37.32M | Mar 15, 2024 |
| FY2021 | Dec 31, 2020 | $40.25M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $64.75M | Mar 1, 2021 |
| FY2020 | Dec 31, 2018 | $25.66M | Mar 1, 2021 |
| FY2019 | Dec 31, 2017 | $3.89M | Feb 24, 2020 |
| FY2019 | Dec 31, 2016 | $8.51M | Feb 24, 2020 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.69B | Mar 11, 2026 |
| FY2023 | Dec 31, 2023 | $0 | Mar 15, 2024 |
| FY2023 | Dec 31, 2022 | $108.08M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | $156.97M | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | $112.40M | Mar 1, 2022 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (3) | Mar 11, 2026 |
| FY2024 | Dec 31, 2024 | (1) | Mar 24, 2025 |
| FY2024 | Sep 30, 2024 | (2) | Mar 24, 2025 |
| FY2024 | Jun 30, 2024 | (23) | Mar 24, 2025 |
| FY2024 | Mar 31, 2024 | (2) | Mar 24, 2025 |
| FY2024 | Dec 31, 2023 | 3 | Mar 24, 2025 |
| FY2024 | Sep 30, 2023 | 0 | Mar 24, 2025 |
| FY2024 | Jun 30, 2023 | 0 | Mar 24, 2025 |
| FY2024 | Mar 31, 2023 | 1 | Mar 24, 2025 |
| FY2023 | Dec 31, 2022 | 1 | Mar 15, 2024 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (3) | Mar 11, 2026 |
| FY2024 | Dec 31, 2024 | (1) | Mar 24, 2025 |
| FY2024 | Sep 30, 2024 | (2) | Mar 24, 2025 |
| FY2024 | Jun 30, 2024 | (23) | Mar 24, 2025 |
| FY2024 | Mar 31, 2024 | (2) | Mar 24, 2025 |
| FY2024 | Dec 31, 2023 | 3 | Mar 24, 2025 |
| FY2024 | Sep 30, 2023 | 0 | Mar 24, 2025 |
| FY2024 | Jun 30, 2023 | 0 | Mar 24, 2025 |
| FY2024 | Mar 31, 2023 | 1 | Mar 24, 2025 |
| FY2023 | Dec 31, 2022 | 1 | Mar 15, 2024 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 31.33M | Mar 11, 2026 |
| FY2025 | Dec 31, 2024 | 29.76M | Mar 11, 2026 |
| FY2024 | Dec 31, 2023 | 25.67M | Mar 24, 2025 |
| FY2023 | Dec 31, 2022 | 26.46M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | 26.97M | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | 27.32M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | 27.85M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | 28.53M | Feb 24, 2020 |
| FY2018 | Dec 31, 2017 | 29.45M | Feb 20, 2019 |
| FY2017 | Dec 31, 2016 | 30.09M | Feb 23, 2018 |