FWRD (Forward Air) Debt-to-Equity : 13.92 (As of Mar. 2025)

Forward Air Debt-to-Equity Chart

Forward Air Annual Data
	Trend	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22	Dec23	Dec24
Debt-to-Equity		Get a 7-Day Free Trial					0.44	0.54	0.38	2.55	10.64

Forward Air Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Debt-to-Equity	Get a 7-Day Free Trial															2.23	7.27	9.24	10.64	13.92

Competitive Comparison of Forward Air's Debt-to-Equity

For the Integrated Freight & Logistics subindustry, Forward Air's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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's Debt-to-Equity Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Forward Air's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Forward Air's Debt-to-Equity falls into.

Forward Air Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Forward Air's Debt to Equity Ratio for the fiscal year that ended in Dec. 2024 is calculated as

Forward Air's Debt to Equity Ratio for the quarter that ended in Mar. 2025 is calculated as

* 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  (NAS:FWRD) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Forward Air Debt-to-Equity Related Terms

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Forward Air Business Description