Last 47 quarters of trend data · Industrials · Freight & Logistics
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -1.89 | — | — | — | — | — | — | — | — | — | — | — | 47.74 | 34.90 | 19.66 | 16.39 | 11.63 | 11.21 | 15.47 | 20.45 | 24.13 |
| — | — | — | — | — | — | — | — | — | — | — | — | +310.4% | +211.2% | +27.1% | -19.9% | -51.8% | -44.5% | -72.1% | — | +0.9% | |
| P/S Ratio | 0.21 | 0.16 | 0.22 | 0.31 | 0.31 | 0.30 | 0.25 | 0.37 | 0.38 | 0.20 | 0.38 | 3.15 | 1.30 | 2.07 | 1.99 | 1.46 | 1.19 | 1.20 | 1.42 | 1.79 | 1.34 |
| — | -46.0% | -10.1% | -18.0% | -16.6% | +52.2% | -34.4% | -88.1% | -71.0% | -90.4% | -81.1% | +116.6% | +9.1% | +71.9% | +40.6% | -18.6% | -11.3% | -17.6% | -15.8% | +24.7% | +12.6% | |
| P/B Ratio | 3.19 | — | 4.23 | 4.79 | 4.05 | 3.45 | 2.67 | 3.31 | 2.94 | 1.40 | 0.61 | 2.11 | 2.66 | 4.10 | 4.16 | 3.96 | 3.56 | 3.74 | 4.33 | 5.54 | 4.06 |
| — | — | +58.4% | +44.6% | +38.0% | +146.5% | +335.8% | +56.9% | +10.4% | -65.8% | -85.3% | -46.7% | -25.2% | +9.8% | -3.9% | -28.5% | -12.3% | -16.4% | -3.4% | +51.0% | +41.4% | |
| P/FCF | 10.91 | — | 3.34 | — | 4.09 | — | 9.65 | — | 6.24 | — | — | 27.54 | 17.99 | 12.97 | 12.05 | 14.91 | 7.86 | 14.93 | 12.60 | 29.03 | 19.66 |
| — | — | -65.4% | — | -34.6% | — | — | — | -65.3% | — | — | +84.7% | +129.0% | -13.1% | -4.4% | -48.6% | -60.0% | -59.1% | -84.9% | -51.2% | -8.9% | |
| EV / EBITDA | — | — | 10.71 | 18.68 | 13.32 | 12.49 | 15.69 | 21.69 | 11.61 | — | — | 150.07 | 17.25 | 19.28 | 13.25 | 10.23 | 7.92 | 7.91 | 10.63 | 14.07 | 12.08 |
| — | — | -31.7% | -13.9% | +14.7% | — | — | -85.5% | -32.7% | — | — | +1366.3% | +117.8% | +143.8% | +24.6% | -27.2% | -34.5% | -40.1% | -49.1% | -23.8% | -11.0% | |
| EV / EBIT | 70.83 | — | — | — | 32.82 | 85.67 | 167.50 | 9.33 | 36.99 | — | — | — | 43.83 | 28.98 | 16.72 | 12.30 | 9.28 | 9.12 | 12.70 | 17.18 | 14.76 |
| — | — | — | — | -11.3% | — | — | — | -15.6% | — | — | — | +372.6% | +217.7% | +31.7% | -28.4% | -37.2% | -43.6% | -56.7% | -35.6% | -21.8% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.5% | 20.3% | 3.5% | 15.2% | 2.4% | 18.6% | 12.3% | 14.5% | 16.8% | 12.0% | 11.1% | 28.2% | 22.7% | 22.9% | 29.0% | 28.8% | 28.6% | 28.3% | 24.9% | 24.4% | 22.7% |
| — | +8.9% | -71.4% | +4.7% | -85.9% | +55.1% | +10.7% | -48.6% | -25.8% | -47.5% | -61.8% | -1.9% | -20.8% | -19.2% | +16.4% | +17.7% | +25.9% | +37.1% | +27.9% | +30.5% | +20.1% | |
| Operating Margin | 1.5% | -29.9% | 3.5% | -0.5% | 2.4% | 3.2% | 0.8% | -0.5% | 5.7% | -170.2% | -12.1% | -6.3% | 4.5% | 7.9% | 13.2% | 12.8% | 14.1% | 14.7% | 12.3% | 11.3% | 10.1% |
| — | -1048.2% | +352.2% | +10.5% | -58.4% | +101.9% | +106.4% | +91.9% | +25.6% | -2257.4% | -192.0% | -149.0% | -67.7% | -46.2% | +7.4% | +12.9% | +38.8% | +46.4% | +95.8% | +91.0% | +42.9% | |
| Net Margin | -4.3% | -30.8% | -5.9% | -4.5% | -2.6% | -2.0% | -8.3% | -5.8% | -11.2% | -100.3% | -11.4% | 79.5% | 2.7% | 6.0% | 10.2% | 8.9% | 10.2% | 10.8% | 9.1% | 8.8% | 5.6% |
| — | -1414.8% | +28.6% | +22.0% | +77.0% | +98.0% | +27.5% | -107.2% | -510.9% | -1776.8% | -212.0% | +790.4% | -73.4% | -44.4% | +11.2% | +1.4% | +82.2% | +47.5% | +196.1% | +793.7% | +11.9% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -48.2% | — | -24.2% | -15.8% | -7.9% | -5.7% | -19.7% | -11.7% | -21.0% | -76.1% | -5.9% | 14.2% | 1.4% | 2.9% | 5.2% | 6.2% | 7.7% | 8.7% | 7.1% | 7.0% | 4.3% |
| — | — | -22.4% | -35.4% | +62.4% | +92.5% | -235.4% | -182.2% | -1610.5% | -2691.7% | -212.7% | +130.3% | -82.1% | -66.2% | -26.3% | -12.3% | +81.8% | +55.1% | +245.9% | +971.4% | +43.0% | |
| ROA | -3.9% | -8.1% | -1.3% | -1.0% | -0.6% | -0.5% | -1.8% | -1.2% | -2.4% | -18.4% | -1.8% | 4.9% | 0.8% | 1.7% | 3.0% | 3.6% | 4.4% | 4.7% | 3.7% | 3.7% | 2.2% |
| — | -1695.4% | +30.2% | +17.7% | +75.6% | +97.5% | -1.6% | -125.5% | -406.6% | -1210.1% | -159.5% | +36.0% | -82.1% | -64.7% | -20.1% | -3.0% | +100.0% | +60.3% | +244.8% | +972.2% | +39.3% | |
| ROIC | 1.2% | -7.6% | 0.7% | -0.1% | 0.5% | 0.6% | 0.2% | -0.1% | 1.2% | -29.6% | -1.7% | -0.3% | 1.2% | 2.0% | 3.7% | 5.0% | 5.8% | 6.3% | 4.9% | 4.6% | 3.9% |
| — | -1278.5% | +353.3% | +6.9% | -58.9% | +102.2% | +109.2% | +69.2% | -0.1% | -1563.8% | -145.8% | -106.8% | -79.0% | -67.6% | -24.9% | +8.2% | +47.8% | +56.6% | +119.3% | +122.2% | +66.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 13.36 | — | 17.59 | 13.36 | 11.01 | 10.00 | 9.48 | 7.51 | 6.20 | 5.66 | 1.55 | 2.56 | 0.45 | 0.46 | 0.49 | 0.38 | 0.41 | 0.48 | 0.53 | 0.54 | 0.55 |
| — | — | +85.4% | +78.0% | +77.4% | +76.7% | +511.3% | +192.9% | +1292.0% | +1142.8% | +217.1% | +579.3% | +9.7% | -5.9% | -7.7% | -30.0% | -26.3% | -14.9% | +15.3% | +21.3% | +29.9% | |
| Debt / EBITDA | 11.42 | — | 36.47 | 57.05 | 40.87 | 38.40 | 51.11 | 62.30 | 32.97 | — | — | 340.72 | 9.99 | 7.75 | 5.63 | 3.61 | 3.31 | 3.69 | 4.73 | 5.04 | 5.90 |
| — | — | -28.6% | -8.4% | +24.0% | — | — | -81.7% | +230.0% | — | — | +9326.3% | +202.2% | +110.1% | +18.9% | -28.3% | -44.0% | -39.2% | -39.6% | -37.9% | -17.7% | |
| Current Ratio | 1.22 | 1.32 | 1.23 | 1.22 | 1.20 | 1.20 | 1.13 | 1.23 | 1.21 | 1.33 | 1.28 | 1.46 | 1.25 | 1.28 | 1.56 | 1.80 | 1.74 | 1.89 | 1.73 | 1.72 | 1.83 |
| — | +10.4% | +9.0% | -1.1% | -1.1% | -10.0% | -12.1% | -15.9% | -2.7% | +4.3% | -17.7% | -18.5% | -28.4% | -32.4% | -10.1% | +4.6% | -4.5% | +7.5% | +18.0% | +19.8% | +22.0% | |
| Quick Ratio | 1.22 | 1.32 | 1.23 | 1.22 | 1.20 | 1.20 | 1.13 | 1.23 | 1.21 | 1.33 | 1.28 | 1.46 | 1.25 | 1.28 | 1.56 | 1.80 | 1.74 | 1.89 | 1.73 | 1.72 | 1.83 |
| — | +10.4% | +9.0% | -1.1% | -0.9% | -10.0% | -12.1% | -15.9% | -3.0% | +4.3% | -17.7% | -18.5% | -28.4% | -32.4% | -10.1% | +4.6% | -4.5% | +7.5% | +18.0% | +19.8% | +22.0% | |
| Interest Coverage | 0.19 | -4.63 | -1.88 | -0.00 | 0.48 | 0.18 | 0.09 | 1.65 | 0.38 | -23.15 | -1.63 | -0.33 | 4.40 | 10.18 | 20.04 | 37.98 | 46.42 | 63.32 | 73.15 | 59.27 | 43.65 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying FWRD stock.
Forward Air Corporation's current P/E is -1.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Forward Air Corporation's current operating margin is 1.5%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Forward Air Corporation's business trajectory between earnings reports.