Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Forward AirFWRD +4.38%56 Cash Ratio is 0.32 as of Mar. 2026, which is 19% above its 10-year median of 0.27. GuruFocus rates FWRD with a GF Score™ of 56/100 and a GF Value™ of $32.72 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 990 Transportation companies, Forward Air ranks worse than 65.05% on this metric.
Forward Air has a Cash Ratio of 0.32. It indicates that there are more current liabilities than Cash, Cash Equivalents, Marketable Securities, and the company does not have sufficient cash on hand to pay off its short-term debt.
The historical rank and industry rank for Forward Air's Cash Ratio or its related term are showing as below:
FWRD'
s Cash Ratio Range Over the Past 10 Years
Min: 0.06 Med: 0.27 Max: 0.55
Current: 0.32
During the past 13 years, Forward Air's highest Cash Ratio was 0.55. The lowest was 0.06. And the median was 0.27.
FWRD's Cash Ratio is ranked worse than 65.05% of 990
companies
in the Transportation industry
Industry Median: 0.51
vs FWRD: 0.32
The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.
The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.
In general, the higher the cash ratio, the better the company's liquidity position.
Forward Air Cash Ratio Related Terms
Forward Air Cash Ratio Historical Data
* Premium members only.
The historical data trend for Forward Air's Cash Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Integrated Freight & Logistics subindustry, Forward Air's Cash Ratio, along with its competitors' market caps and Cash Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Forward Air Cash Ratio vs Transportation Industry
For the Transportation industry and Industrials sector, Forward Air's Cash Ratio distribution charts can be found below:
* The bar in red indicates where Forward Air's Cash Ratio falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Forward Air (FWRD) has a Cash Ratio of 0.32 as of Mar. 2026. Cashflow ratio is the ratio of Cash, Cash Equivalents, Marketable Securities to current liabilities. View historical data on Forward Air and its competitors. This is 19% above median its historical median of 0.27. Over the past decade, Forward Air's Cash Ratio has ranged from 0.06 to 0.55. According to the industry distribution chart, Forward Air ranks #644 out of 990 companies in the Transportation industry, placing it in the top 65.1%.
Is Forward Air's Cash Ratio too high?
Forward Air's current Cash Ratio of 0.32 is 19% above median its 10-year median of 0.27. Over the past 10 years, this metric has ranged from a low of 0.06 to a high of 0.55. The Transportation industry median Cash Ratio is 0.51. Forward Air's value of 0.32 is 37.3% below this industry median. Based on the distribution chart, Forward Air ranks #644 out of 990 companies in the Transportation industry, which is below the industry midpoint. Overall, Forward Air has a GF Score™ of 56/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Forward Air's Cash Ratio compare to RLGT and CYRX?
According to the Transportation industry distribution chart, Forward Air ranks #644 out of 990 companies for Cash Ratio. This places Forward Air in the lower half of its industry. The industry median Cash Ratio is 0.51. Forward Air's value of 0.32 is 37.3% below this benchmark. Historically, Forward Air's own Cash Ratio has ranged from 0.06 to 0.55 over the past decade. While the company's 10-year median is 0.27 vs. the industry median of 0.51, Forward Air has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Ratio for a Transportation company?
The median Cash Ratio among Transportation companies is 0.51, based on 990 companies in the industry. Companies in the top quartile (top 25%) have a Cash Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cash Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Forward Air's current Cash Ratio of 0.32 is 37.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Ratio mean?
A high Cash Ratio can signal that a stock is expensive relative to its fundamentals. Cashflow ratio is the ratio of Cash, Cash Equivalents, Marketable Securities to current liabilities. View historical data on Forward Air and its competitors. For the Transportation industry, the median Cash Ratio is 0.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forward Air's current Cash Ratio is 0.32, which is 19% above median its own 10-year median of 0.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forward Air stock overvalued right now?
Based on GuruFocus' analysis, Forward Air (FWRD) is currently considered Possible Value Trap. The stock's GF Value™ is $32.72, compared to a current price of $14.67 — trading 55.2% below its estimated fair value. The current Cash Ratio is 0.32, which is 19% above median its 10-year median of 0.27 and 37.3% below the Transportation industry median of 0.51. Forward Air's overall GF Score™ is 56/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Ratio calculated?
Cash Ratio is calculated from a company's financial statements. For Forward Air (FWRD), the current Cash Ratio is 0.32 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Forward Air (FWRD) Overvalued in 2026?
Based on GuruFocus' analysis, Forward Air stock appears to be undervalued.
The current stock price of $14.67 is trading 55.2% below its estimated GF Value™ of $32.72.
GuruFocus considers Forward Air to be Possible Value Trap.
Key valuation signals for FWRD:
Cash Ratio: 0.32 (19% above median its 10-year median of 0.27)
GF Value™: $32.72 vs. price of $14.67 (55.2% below fair value)
Industry Position: 37.3% below the Transportation median (#644 of 990)
No single metric tells the full story. See the FWRD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forward Air Corp is an asset-light freight and logistics company. The company's operating segment includes Expedited Freight, Omni Logistics, and Intermodal and Corporate. The company generates maximum revenue from the Omni Logistics segment. The expedited Freight segment operates a comprehensive national network to provide expedited regional, inter-regional, and national LTL (less-than-truckload) services. It also offers customers local pick-up and delivery and other services including final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. The Company conducts business in North and South America, Europe, and Asia.
56GF Score
Get the complete analysis for FWRD
Cash Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FWRD has been successfully added to your 
