SuperworthForward Air free cash flow FWRD
Cash from operations less capital spending, by quarter and over the last twelve months, from 2009.
- Last 12 months, to Jun 30, 2026
- $48.2M
- Latest quarter, Q2 FY26
- −$8.1M
- Fiscal year 2025
- $15.3M
Forward Air's free cash flow was $48.2M over the twelve months to Jun 30, 2026, up 503% on a year earlier.
In its latest quarter, Q2 FY26, it was −$8.1M.
Over the five fiscal years to FY2025 it shrank 27% a year on average.
Free cash flow over time
Fiscal year by fiscal year
| Fiscal year | Free cash flow | Change |
|---|---|---|
| FY2025 | $15.3M | n/a |
| FY2024 | −$106.1M | −163% |
| FY2023 | $168.5M | −23% |
| FY2022 | $218.4M | +155% |
| FY2021 | $85.8M | +13% |
| FY2020 | $75.8M | −41% |
| FY2019 | $128.6M | +17% |
| FY2018 | $110.3M | +69% |
| FY2017 | $65.1M | −26% |
| FY2016 | $88.2M | +95% |
| FY2015 | $45.2M | −13% |
| FY2014 | $52.2M | −6% |
| FY2013 | $55.4M | +17% |
| FY2012 | $47.2M | −15% |
| FY2011 | $55.7M | +43% |
Each fiscal year is the twelve months to its fourth quarter.
Quarter by quarter
| Quarter | Ended | Free cash flow | On a year earlier | Last 12 months |
|---|---|---|---|---|
| Q2 FY26 | −$8.1M | n/a | $48.2M | |
| Q1 FY26 | $38.8M | +147% | $38.4M | |
| Q4 FY25 | −$31.1M | n/a | $15.3M | |
| Q3 FY25 | $48.6M | +19% | $15.9M | |
| Q2 FY25 | −$18M | n/a | $8M | |
| Q1 FY25 | $15.7M | n/a | −$33.7M | |
| Q4 FY24 | −$30.5M | −163% | −$106.1M | |
| Q3 FY24 | $40.7M | +110% | −$27.1M | |
| Q2 FY24 | −$59.6M | −229% | −$48.5M | |
| Q1 FY24 | −$56.7M | −204% | $57.5M | |
| Q4 FY23 | $48.4M | +3% | $168.5M | |
| Q3 FY23 | $19.4M | −75% | $167M |
Against its peers
Companies in Integrated Freight & Logistics nearest Forward Air's size, closest first, today.
| Company | Free cash flow yield |
|---|---|
| FWRDForward Air | 9.3% |
| RLGTRadiant Logistics | 3.2% |
| HUBGHub | 7.2% |
| BCOBrinks | 8.6% |
| Peer median | 7.2% |
Where Forward Air ranks
What the free cash flow tells you
Cash from operations minus capital spending. The cash the company could hand back or reinvest.
Seasonal and lumpy quarter to quarter. The TTM view is the one to trust.
More on Forward Air
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.