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Companies / Industrials / FORWARD AIR CORP
FWRD

FORWARD AIR CORP

IndustrialsTransportation & Utilities
Ticker FWRDDALLAS, TXFiscal year ends DecemberBook value per share $-3.60Diluted shares 32.0M

Forward Air Corporation (Nasdaq: FWRD) is a leading asset-light provider of transportation and logistics services operating across North and South America, Europe, and Asia. The company delivers ground transportation, air and ocean forwarding, intermodal drayage services, and contract logistics solutions with a focus… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$2.50B
+0.8% year over year
Last 12 mo $2.52B
1.46%
+44.4 percentage points
Last 12 mo -6.70%
$-141.72M
+87.4% year over year
Last 12 mo $-346.30M
-95.11%
−250.9 percentage points
Last 12 mo 247.94%
Cash & financing
$44.38M
+164.3% year over year
Last 12 mo $70.84M
$15.27M
+114.4% year over year
Last 12 mo $48.22M
15.22
Was 8.54× a year earlier
Last 12 mo -14.95
30.7M
+15.2% year over year
Last 12 mo 32.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What FORWARD AIR CORP does

In the company’s own words

Forward Air Corporation (Nasdaq: FWRD) is a leading asset-light provider of transportation and logistics services operating across North and South America, Europe, and Asia. The company delivers ground transportation, air and ocean forwarding, intermodal drayage services, and contract logistics solutions with a focus on precision execution and time-sensitive freight handling. Forward Air was founded in 1981 and maintains its primary operations through three reportable business segments.

The Expedited Freight segment, representing approximately 40 percent of consolidated revenue, operates a comprehensive network across the continental United States providing expedited regional, inter-regional, and national less-than-truckload and truckload services. This segment serves freight forwarders, third-party logistics companies, and integrated air cargo carriers through a network encompassing approximately 96 percent of continental United States zip codes with additional service in Canada and Mexico.

The Omni Logistics segment, accounting for approximately 50 percent of revenue, delivers asset-light, high-touch logistics and supply chain management solutions to prominent United States-based customers in technology, retail, media, logistics, life sciences, and e-commerce sectors. Omni provides domestic and international freight forwarding, fulfillment services, customs brokerage, distribution, and value-added warehousing and contract logistics capabilities through 125 service centers primarily located in the United States and Asia-Pacific region.

The Intermodal segment, representing approximately 10 percent of revenue, provides first- and last-mile intermodal container drayage services to and from seaports and railheads, primarily operating in the Midwest and Southeast with additional presence in the Southwest, Mid-Atlantic, and West Coast. Intermodal also offers dedicated contract and container freight station warehouse and handling services.

As of December 31, 2025, Forward Air employed 6,062 full-time employees and 294 part-time employees. The company completed its acquisition of Omni Newco LLC in January 2024, significantly expanding its service offerings and geographic footprint. Forward Air's website is located at www.forwardair.com.

Company details
Sector
Industrials
Industry
Transportation & Utilities
Headquarters
DALLAS, TX
Fiscal year end
December
CIK
912728
SIC
4731

Financial performance, year by year

Fiscal 2013–2025 · USD
$-1.49B$-396.26M$696.62M$1.79B$2.88B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns FORWARD AIR CORP — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

162
funds hold it
0 of 35
superinvestors hold it
$95.50M
held by funds, at market
18.6%
of shares held by funds

Largest fund holders · FORWARD AIR CORP’s weight in each

Fidelity Value Fund
FDVLX · Fidelity Capital Trust
0.21%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.01%of fund net assets
Fidelity Small Cap Index Fund
FSSNX · Fidelity Salem Street Trust
0.01%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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