Forward Air Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 27, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	512	783	960	1,614	2,776	3,266
Market Cap Growth	-6.22%	-18.40%	-40.53%	-41.85%	-15.01%	55.58%
Enterprise Value	2,566	2,762	2,971	3,381	2,945	3,495
Last Close Price	16.24	25.00	32.25	62.87	104.89	121.09
PE Ratio	-	-7.12	-1.05	9.82	14.69	31.45
Forward PE	-	-	-	14.52	14.06	23.85
PEG Ratio	-	1.56	1.56	1.56	1.56	1.56
PS Ratio	0.21	0.31	0.39	1.18	1.65	2.35
PB Ratio	4.49	6.91	4.76	2.11	3.92	5.50
P/TBV Ratio	4.40	6.78	4.40	2.14	3.99	5.57
P/FCF Ratio	33.56	51.29	-9.05	9.58	13.16	39.71
P/OCF Ratio	11.55	17.65	-13.91	8.10	11.10	27.08
EV/Sales Ratio	1.03	1.11	1.20	2.47	1.75	2.52
EV/EBITDA Ratio	10.68	14.61	-3.23	23.22	10.15	19.20
EV/EBIT Ratio	29.27	75.83	-2.80	38.33	11.89	23.77
EV/FCF Ratio	168.07	180.91	-28.01	20.07	13.96	42.50
Debt / Equity Ratio	12.60	12.60	7.11	2.47	0.30	0.45
Debt / EBITDA Ratio	7.81	11.42	-2.33	13.36	0.92	1.76
Debt / FCF Ratio	50.36	141.45	-20.23	11.55	1.26	3.89
Net Debt / Equity Ratio	18.12	18.12	10.12	2.39	0.31	0.48
Net Debt / EBITDA Ratio	7.42	10.86	-2.22	12.53	0.76	1.55
Net Debt / FCF Ratio	47.89	134.51	-19.24	10.83	1.05	3.44
Asset Turnover	0.90	0.90	0.86	0.65	1.44	1.28
Quick Ratio	1.06	1.06	1.11	1.18	1.38	1.54
Current Ratio	1.22	1.22	1.23	1.46	1.80	1.72
Return on Equity (ROE)	-81.56%	-63.34%	-214.23%	5.82%	27.58%	18.73%
Return on Assets (ROA)	0.42%	1.27%	-33.09%	3.18%	15.75%	10.17%
Return on Invested Capital (ROIC)	0.48%	1.45%	-36.64%	3.50%	18.00%	11.64%
Return on Capital Employed (ROCE)	0.52%	1.55%	-41.19%	4.67%	24.86%	16.08%
Earnings Yield	-21.04%	-14.04%	-94.98%	10.18%	6.81%	3.18%
FCF Yield	2.98%	1.95%	-11.05%	10.44%	7.60%	2.52%
Dividend Yield	-	0.00%	0.00%	1.53%	0.92%	0.70%
Payout Ratio	-	0.00%	0.00%	14.94%	13.39%	21.70%
Buyback Yield / Dilution	-11.54%	-11.54%	-5.91%	3.43%	1.34%	1.46%
Total Shareholder Return	-11.54%	-11.54%	-5.91%	4.96%	2.26%	2.16%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q