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Net margin is calculated as Net Income divided by its Revenue. Forward Air's Net Income for the
three
months ended in Mar. 2026 was $-34 Mil. Forward Air's Revenue for the
three
months ended in Mar. 2026 was $582 Mil. Therefore, Forward Air's net margin for the quarter that ended in Mar. 2026 was -5.90%.
The historical rank and industry rank for Forward Air's Net Margin % or its related term are showing as below:
FWRD'
s Net Margin % Range Over the Past 10 Years
Min: -33.02 Med: 7.32 Max: 12.21
Current: -3.71
FWRD's Net Margin % is ranked worse than 86.75% of 1004
companies
in the Transportation industry
Industry Median: 4.87
vs FWRD: -3.71
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Forward Air Net Margin % Related Terms
Forward Air Net Margin % Historical Data
* Premium members only.
The historical data trend for Forward Air's Net Margin % 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 Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Transportation Industry
For the Transportation industry and Industrials sector, Forward Air's Net Margin % distribution charts can be found below:
* The bar in red indicates where Forward Air's Net Margin % 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 Net Margin % of -5.90% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Forward Air and its competitors. According to the industry distribution chart, Forward Air ranks #871 out of 1004 companies in the Transportation industry, placing it in the top 86.8%.
Is Forward Air's Net Margin % too high?
Forward Air's current Net Margin % is -5.90%. Based on the distribution chart, Forward Air ranks #871 out of 1004 companies in the Transportation industry, which is in the bottom quartile relative to peers. 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 Net Margin % compare to RLGT and CYRX?
According to the Transportation industry distribution chart, Forward Air ranks #871 out of 1004 companies for Net Margin %. This places Forward Air in the lower half of its industry. The industry median Net Margin % is 4.87. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for a Transportation company?
The median Net Margin % among Transportation companies is 4.87, based on 1,004 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Forward Air and its competitors. For the Transportation industry, the median Net Margin % is 4.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forward Air's current Net Margin % is -5.90%. 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 $15.30 — trading 53.2% below its estimated fair value. The current Net Margin % is -5.90%. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Forward Air (FWRD), the current Net Margin % is -5.90% 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 $15.30 is trading 53.2% below its estimated GF Value™ of $32.72.
GuruFocus considers Forward Air to be Possible Value Trap.
Key valuation signals for FWRD:
Net Margin %: -5.90%
GF Value™: $32.72 vs. price of $15.30 (53.2% below fair value)
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
Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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