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Forward Air Corporation (FWRD)
NASDAQ: FWRD · Real-Time Price · USD
17.39
+0.23 (1.34%)
At close: Nov 13, 2026, 4:00 PM EST
17.42
+0.03 (0.17%)
After-hours: Nov 13, 2026, 6:00 PM EST

Forward Air Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
-258.57-107.8-816.97167.35193.19105.86
Depreciation & Amortization
155.05152.64143.9857.4139.9932.57
Other Amortization
----2.562.39
Loss (Gain) From Sale of Assets
-10.63-----
Asset Writedown & Restructuring Costs
263.7719.771,028---
Stock-Based Compensation
9.3813.4310.1911.510.6610.5
Other Operating Activities
-34.99-30.12-422.83-129.53-1.248.49
Change in Accounts Receivable
-74.37-18.019.5530.56-2.59-42.46
Change in Accounts Payable
42.8546.26-15.9236.6612.7718.25
Change in Other Net Operating Assets
-39.04-31.79-5.4125.28-5.18-15
Operating Cash Flow
53.4444.38-75.4181.39259.09120.26
Operating Cash Flow Growth
22.88%---29.99%115.44%42.04%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-21.59-29.12-37.06-30.73-39.25-38.38
Sale of Property, Plant & Equipment
4.072.25.143.742.372.64
Cash Acquisitions
---1,576-56.7-66.11-59.87
Other Investing Activities
---0.44258.53-1.487.29
Investing Cash Flow
7.47-26.91-1,609174.84-104.46-88.31

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Long-Term Debt Issued
-110751,861-195
Long-Term Debt Repaid
--127.31-173.43-188-55.11-152.42
Net Debt Issued (Repaid)
-16.83-17.31-98.431,673-55.1142.58
Issuance of Common Stock
1.150.850.750.80.994.62
Repurchase of Common Stock
-0.86-1.07-1.44-98.15-66.1-52.1
Common Dividends Paid
----25-25.87-22.98
Other Financing Activities
---64.72-0.13-0.04-7
Financing Cash Flow
-16.54-17.53-163.831,550-146.12-34.89

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
0.210.791.01---
Net Cash Flow
44.580.73-1,8471,9068.51-2.94

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
31.8515.27-112.46150.66219.8481.89
Free Cash Flow Growth
105.78%---31.47%168.47%27.16%
Free Cash Flow Margin
1.24%0.61%-4.54%10.99%13.09%5.90%
Free Cash Flow Per Share
0.990.50-4.085.798.163.00
Levered Free Cash Flow
75.366.08-23.79169.3159.2441.35
Unlevered Free Cash Flow
185.61179.0594.47189.03162.4544.07

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
166.67166.6716411.925.364.2
Cash Income Tax Paid
0.870.8738.7620.8465.3935.77
Change in Working Capital
-70.57-3.53-11.7892.495-39.21
SEC Filings: 10-K · 10-Q