To the full analysis
Forward Air stock: growth
FWRDForward Air reported $2.5B in revenue for fiscal 2025, up 0.8% on the prior year, up 18.7% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
10.8%
per year from 2006 to 2025, per share 10.9%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
−4.6%
per year from 2006 to 2025, per share −4.5%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 14.5% | 10.0% | 10.8% |
| Revenue per share | 11.9% | 10.0% | 10.9% |
| Earnings | no data | no data | no data |
| Earnings per share | no data | no data | no data |
| Free cash flow | −25.0% | −10.3% | −4.6% |
| Free cash flow per share | −26.7% | −10.3% | −4.5% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $352.76M | $48.92M | $37.01M |
| 2007 | $392.74M | $44.93M | $15.37M |
| 2008 | $474.44M | $42.54M | $32.38M |
| 2009 | $417.41M | $9.95M | $29.33M |
| 2010 | $483.94M | $32.04M | $38.85M |
| 2011 | $536.4M | $47.2M | $55.74M |
| 2012 | $584.45M | $52.67M | $47.23M |
| 2013 | $652.48M | $54.47M | $55.4M |
| 2014 | $780.96M | $61.17M | $52.17M |
| 2015 | $959.13M | $55.58M | $45.23M |
| 2016 | $982.53M | $27.67M | $88.16M |
| 2017 | $1.1B | $87.32M | $65.1M |
| 2018 | $1.32B | $92.05M | $110.26M |
| 2019 | $1.22B | $87.1M | $136.99M |
| 2020 | $1.27B | $23.73M | $64.4M |
| 2021 | $1.39B | $105.86M | $81.15M |
| 2022 | $1.68B | $193.19M | $218.36M |
| 2023 | $1.37B | $167.35M | $150.66M |
| 2024 | $2.47B | −$816.97M | −$112.46M |
| 2025 | $2.5B | −$107.8M | $15.27M |
Revenue by region
Where Forward Air Corporation generates its revenue.
- United States$2.2B87%
- Outside the US$330.0M13%
The company split earlier years differently. A history would not be comparable, so only 2025 is shown.
Figures as a table
| 2025 | Share 2025 | |
|---|---|---|
| United States | $2.17B | 86.8% |
| Outside the US | $330.04M | 13.2% |
| Total revenue | $2.5B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 31 May 2024)
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.