Forward Air Balance Sheet
NASDAQ: FWRDIndustrialsIntegrated Freight & LogisticsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Forward Air financial position
At the end of fiscal 2025, Forward Air reported total assets of $2.72 billion, down 3.0% from a year earlier against total liabilities of $2.56 billion. Shareholders' equity stood at $113.3 million, or 4.2% of assets. The company held $106.0 million in cash and equivalents against $1.69 billion of debt, a net debt position of $1.58 billion.
The current ratio (current assets divided by current liabilities) was 1.22, meaning short-term assets cover obligations due within a year. Debt-to-equity was 14.89.
Summary generated from market data by MetaCap's automated system. Methodology
Forward Air balance sheet (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 106.00M | 104.90M | 121.97M | 45.82M | 37.32M | 40.25M | 64.75M | 25.66M | 3.89M | 8.51M |
| Receivables | 343.56M | 322.29M | 153.27M | 188.23M | 208.09M | 156.49M | 136.21M | 156.36M | 147.95M | 116.60M |
| Inventory | — | — | — | — | — | — | 2.13M | 2.24M | 1.43M | 1.31M |
| Total Current Assets | 521.00M | 472.50M | 347.03M | 304.31M | 282.81M | 245.90M | 236.32M | 201.08M | 167.65M | 136.27M |
| Property, Plant & Equipment | 297.88M | 326.19M | 258.10M | 249.08M | 219.09M | 189.87M | 192.76M | 209.90M | 206.11M | 200.21M |
| Goodwill | 522.71M | 522.71M | 278.71M | 257.99M | 218.56M | 244.98M | 215.70M | 193.69M | 191.67M | 184.68M |
| Intangible Assets | 906.79M | 999.22M | 134.79M | 115.58M | 154.72M | 145.03M | 124.86M | 113.66M | 111.25M | 106.65M |
| Total Assets | 2.72B | 2.80B | 2.98B | 1.21B | 1.12B | 1.05B | 990.88M | 760.22M | 692.62M | 644.05M |
| Accounts Payable | 121.75M | 105.69M | 45.43M | 50.09M | 44.84M | 38.37M | 25.41M | 34.63M | 30.72M | 18.01M |
| Short-Term Debt | — | 16.93M | 0 | 1.49M | 1.50M | 0 | 5.32M | 0 | 0 | 27.66M |
| Total Current Liabilities | 428.32M | 384.05M | 237.09M | 169.40M | 164.69M | 171.62M | 137.16M | 74.72M | 66.15M | 77.93M |
| Long-Term Debt | 1.69B | 1.68B | 0 | 106.59M | 155.47M | 112.40M | 67.34M | 47.28M | 40.22M | 0 |
| Total Liabilities | 2.56B | 2.52B | 2.22B | 500.83M | 524.17M | 500.06M | 413.70M | 206.97M | 159.92M | 142.94M |
| Shareholders' Equity | 113.34M | 201.73M | 764.26M | 707.24M | 593.65M | 547.33M | 577.18M | 553.24M | 532.70M | 498.35M |
| Retained Earnings | -447.10M | -338.23M | 480.32M | 436.12M | 334.91M | 304.14M | 350.03M | 342.66M | 337.06M | 319.26M |
| Total Debt | 1.69B | 1.69B | 0 | 108.08M | 156.97M | 112.40M | 72.66M | 47.28M | 40.22M | 27.66M |
| Net Cash (Debt) | -1.58B | -1.59B | 121.97M | -62.26M | -119.65M | -72.14M | -7.91M | -21.62M | -36.33M | -19.15M |
| Shares Outstanding | 31.33M | 29.76M | 25.67M | 26.46M | 26.97M | 27.32M | 27.85M | 28.53M | 29.45M | 30.09M |
This table shows 10 annual periods of Forward Air's balance sheet, from FY 2025 back to FY 2016, across 18 line items including cash & equivalents, receivables, inventory. Values in USD; B = billions, M = millions. Fiscal periods follow FWRD's reporting calendar. What is a balance sheet?