Forward Air Corporation (FWRD)

Forward Air Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	95.13	104.9	121.97	45.82	37.32	40.25
Cash & Short-Term Investments	95.13	104.9	121.97	45.82	37.32	40.25
Cash Growth	12.07%	-13.99%	166.18%	22.80%	-7.30%	-37.83%
Accounts Receivable	335.72	322.29	153.27	188.23	208.09	156.49
Other Receivables	-	0.21	5.41	-	8.1	-
Receivables	335.72	322.5	158.68	188.23	216.18	156.49
Prepaid Expenses	33.18	29.05	25.68	24.77	22.28	21.41
Restricted Cash	0.18	0.36	39.6	-	-	-
Other Current Assets	10.4	15.69	1.1	45.5	7.03	27.74
Total Current Assets	474.61	472.5	347.03	304.32	282.81	245.9
Property, Plant & Equipment	740.86	722.4	362.29	377.43	367.29	313.21
Goodwill	522.71	522.71	278.71	257.99	266.75	244.98
Other Intangible Assets	952.97	1,013	142.15	115.58	154.72	145.03
Other Long-Term Assets	70.09	71.94	1,849	152.77	46.25	98.28
Total Assets	2,761	2,803	2,980	1,208	1,118	1,047
Accounts Payable	115.12	105.69	45.43	50.09	44.84	38.37
Accrued Expenses	115.61	119.38	87.01	42.38	50.54	36.54
Current Portion of Long-Term Debt	-	-	-	1.5	1.5	-
Current Portion of Leases	117.89	113.37	56.99	50.09	52.12	45.48
Current Income Taxes Payable	-	5.95	31.19	-	-	-
Current Unearned Revenue	-	9.9	-	-	-	-
Other Current Liabilities	48.07	29.76	16.48	25.34	15.7	51.23
Total Current Liabilities	396.69	384.05	237.09	169.4	164.69	171.62
Long-Term Debt	1,681	1,676	1,791	106.59	155.47	112.4
Long-Term Leases	363.51	356.5	98.33	108.61	110.98	85.36
Long-Term Deferred Tax Liabilities	33.45	38.17	42.2	51.09	43.41	41.99
Other Long-Term Liabilities	69.88	62.13	47.14	65.14	49.62	88.7
Total Liabilities	2,545	2,517	2,215	500.83	524.17	500.06
Common Stock	0.31	0.3	0.26	0.27	0.27	0.27
Additional Paid-In Capital	551.85	542.39	283.68	270.86	258.47	242.92
Retained Earnings	-402.45	-338.23	480.32	436.12	334.91	304.14
Comprehensive Income & Other	2.09	-2.73	-	-	-	-
Total Common Equity	151.79	201.73	764.26	707.24	593.65	547.33
Minority Interest	64.45	84.14	-	-	-	-
Shareholders' Equity	216.24	285.87	764.26	707.24	593.65	547.33
Total Liabilities & Equity	2,761	2,803	2,980	1,208	1,118	1,047
Total Debt	2,163	2,146	1,946	266.78	320.07	243.24
Net Cash (Debt)	-2,068	-2,041	-1,824	-220.96	-282.75	-202.98
Net Cash Per Share	-70.23	-74.11	-70.14	-8.21	-10.36	-7.33
Filing Date Shares Outstanding	30.79	30.4	26.37	26.34	26.94	27.53
Total Common Shares Outstanding	30.61	29.76	25.67	26.46	26.97	27.32
Working Capital	77.92	88.45	109.93	134.92	118.12	74.28
Book Value Per Share	4.96	6.78	29.77	26.73	22.01	20.04
Tangible Book Value	-1,324	-1,334	343.41	333.68	172.19	157.32
Tangible Book Value Per Share	-43.25	-44.83	13.38	12.61	6.38	5.76
Land	-	26.52	26.48	26.48	26.48	26.37
Buildings	-	95.8	94.28	94.28	67.27	65.92
Machinery	-	364.41	320.56	283.53	259.03	246.95
Construction In Progress	-	16.4	11.52	13.9	27.07	4.05
Leasehold Improvements	-	68.46	24.39	16.78	13.78	13.75

Updated Aug 11, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q