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Forward AirFWRD +1.80%60 Cash-to-Debt is 0.07 as of Jun. 2026, which is 56% below its 10-year median of 0.16. GuruFocus rates FWRD with a GF Score™ of 60/100 and a GF Value™ of $27.51 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 989 Transportation companies, Forward Air ranks worse than 88.47% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Forward Air's cash to debt ratio for the quarter that ended in Jun. 2026 was 0.07.
If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Forward Aircouldn't pay off its debt using the cash in hand for the quarter that ended in Jun. 2026.
The historical rank and industry rank for Forward Air's Cash-to-Debt or its related term are showing as below:
FWRD'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.04 Med: 0.16 Max: 1.03
Current: 0.07
During the past 13 years, Forward Air's highest Cash to Debt Ratio was 1.03. The lowest was 0.04. And the median was 0.16.
FWRD's Cash-to-Debt is ranked worse than 88.47% of 989
companies
in the Transportation industry
Industry Median: 0.47
vs FWRD: 0.07
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Forward Air Cash-to-Debt Related Terms
Forward Air Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Forward Air's Cash-to-Debt 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.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
For the Integrated Freight & Logistics subindustry, Forward Air's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt 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-to-Debt vs Transportation Industry
For the Transportation industry and Industrials sector, Forward Air's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Forward Air's Cash-to-Debt 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-to-Debt of 0.07 as of Jun. 2026. This is 56% below median its historical median of 0.16. Over the past decade, Forward Air's Cash-to-Debt has ranged from 0.04 to 1.03. According to the industry distribution chart, Forward Air ranks #875 out of 989 companies in the Transportation industry, placing it in the top 88.5%.
Is Forward Air's Cash-to-Debt too high?
Forward Air's current Cash-to-Debt of 0.07 is 56% below median its 10-year median of 0.16. Over the past 10 years, this metric has ranged from a low of 0.04 to a high of 1.03. The Transportation industry median Cash-to-Debt is 0.47. Forward Air's value of 0.07 is 85.1% below this industry median. Based on the distribution chart, Forward Air ranks #875 out of 989 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Forward Air has a GF Score™ of 60/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Forward Air's Cash-to-Debt compare to RLGT and CYRX?
According to the Transportation industry distribution chart, Forward Air ranks #875 out of 989 companies for Cash-to-Debt. This places Forward Air in the lower half of its industry. The industry median Cash-to-Debt is 0.47. Forward Air's value of 0.07 is 85.1% below this benchmark. Historically, Forward Air's own Cash-to-Debt has ranged from 0.04 to 1.03 over the past decade. While the company's 10-year median is 0.16 vs. the industry median of 0.47, 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-to-Debt for a Transportation company?
The median Cash-to-Debt among Transportation companies is 0.47, based on 989 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Forward Air's current Cash-to-Debt of 0.07 is 85.1% 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-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Transportation industry, the median Cash-to-Debt is 0.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forward Air's current Cash-to-Debt is 0.07, which is 56% below median its own 10-year median of 0.16. 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 $27.51, compared to a current price of $18.10 — trading 34.2% below its estimated fair value. The current Cash-to-Debt is 0.07, which is 56% below median its 10-year median of 0.16 and 85.1% below the Transportation industry median of 0.47. Forward Air's overall GF Score™ is 60/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Forward Air (FWRD), the current Cash-to-Debt is 0.07 as of Jun. 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 $18.10 is trading 34.2% below its estimated GF Value™ of $27.51.
GuruFocus considers Forward Air to be Possible Value Trap.
Key valuation signals for FWRD:
Cash-to-Debt: 0.07 (56% below median its 10-year median of 0.16)
GF Value™: $27.51 vs. price of $18.10 (34.2% below fair value)
Industry Position: 85.1% below the Transportation median (#875 of 989)
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.
60GF Score
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