Forward Air Corporation
IndustrialsNASDAQ:FWRD · NASDAQ Global Select
+$0.76 today
Vol 2.47M · Avg 1.17M
Cash Flow
Check whether earnings turn into cash
Use operating cash flow, capital spending, free cash flow, and financing activity to see how much value is left for reinvestment or owners.
Free Cash Flow
Net Income to FCF bridge
Analysis
Analysis will appear once cash flow data is available for this period.
Cash Flow Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Net Income | -$107.8M +90.4% | -$1.1B -2727.9% | $42.8M -77.8% | $193.2M +66.4% | $116.1M | $487.6M | $476.4M | $465.2M |
| Depreciation & Amortization | $152.6M +6.0% | $144.0M +150.8% | $57.4M +21.1% | $47.4M +19.8% | $39.6M | $374.2M | $1.2B | $631.8M |
| Deferred Income Tax | -$10.9M +91.8% | -$133.5M -1401.3% | -$8.9M -215.7% | $7.7M +440.9% | $1.4M | $1.4B | -$1.5B | $304.2M |
| Stock-Based Compensation | $13.4M +31.8% | $10.2M -11.4% | $11.5M +7.8% | $10.7M +1.5% | $10.5M | $489.0M | $354.6M | -$1.6B |
| Change in Working Capital | -$3.5M +70.0% | -$11.8M -112.7% | $92.5M +911.3% | -$11.4M +77.9% | -$51.6M | $350.4M | -$1.6B | $1.5B |
| Accounts Receivables | -$25.4M -232.0% | $19.2M -23.6% | $25.1M +231.5% | -$19.1M +63.7% | -$52.7M | $592.6M | $1.3B | $626.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $1.0B | $1.2B | $1.1B |
| Accounts Payables | $46.3M +390.7% | -$15.9M -143.4% | $36.7M +191.6% | $12.6M -26.8% | $17.2M | $948.2M | -$1.5B | $433.0M |
| Other Working Capital | -$24.4M -61.9% | -$15.1M -149.2% | $30.7M +733.2% | -$4.8M +69.9% | -$16.1M | $567.4M | $1.3B | $601.0M |
| Other Non-Cash Items | $589.0K -99.9% | $1.0B +7579.1% | -$13.9M -220.3% | $11.6M +168.9% | $4.3M | $1.4B | -$1.5B | $300.0M |
| Operating Cash Flow | $44.4M +158.9% | -$75.4M -141.6% | $181.4M -30.0% | $259.1M +115.4% | $120.3M | $7.2B | $8.9B | $10.5B |
| Capital Expenditures | -$29.1M +21.4% | -$37.1M -20.6% | -$30.7M +24.6% | -$40.7M -4.1% | -$39.1M | $664.0M | $1.4B | $697.6M |
| Acquisitions (Net) | $2.2M +100.1% | -$1.6B -2876.1% | -$53.0M +19.9% | -$66.1M -10.4% | -$59.9M | $937.0M | $1.1B | $1.3B |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $444.2M | $1.4B | $1.3B |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $822.2M | $318.2M | -$1.5B |
| Other Investing Activities | $0 -100.0% | $4.7M -98.2% | $258.5M +10799.0% | $2.4M -77.8% | $10.7M | $616.4M | $370.0M | $1.2B |
| Investing Cash Flow | -$26.9M +98.3% | -$1.6B -1020.0% | $174.8M +267.4% | -$104.5M -18.3% | -$88.3M | $4.8B | $6.4B | $5.1B |
| Debt Repayment | -$17.3M +82.4% | -$98.4M -105.9% | $1.7B +3134.9% | -$55.1M -229.4% | $42.6M | $680.8M | $759.2M | $1.1B |
| Common Stock Issued | $0 | $0 | $0 | $0 | $0 | $778.8M | $946.8M | $812.4M |
| Common Stock Repurchased | $846.0K +12.4% | $753.0K +100.8% | -$93.8M -49.4% | -$62.8M -28.1% | -$49.0M | $351.8M | -$1.6B | $1.5B |
| Dividends Paid | $0 | $0 +100.0% | -$25.0M +3.4% | -$25.9M -12.6% | -$23.0M | $535.2M | $613.6M | $692.0M |
| Other Financing Activities | -$1.1M +98.4% | -$66.2M -1703.2% | -$3.7M -54.3% | -$2.4M +56.8% | -$5.5M | -$1.6B | $1.3B | $1.1B |
| Financing Cash Flow | -$17.5M +89.3% | -$163.8M -110.6% | $1.6B +1160.8% | -$146.1M -318.8% | -$34.9M | $12.2B | $13.9B | -$15.5B |
| Effect of Forex Changes | $791.0K -21.9% | $1.0M | $0 | $0 | $0 | $1.3B | $1.1B | $990.2M |
| Net Change in Cash | $730.0K +100.0% | -$1.8B -196.9% | $1.9B +22310.7% | $8.5M +389.5% | -$2.9M | $3.2B | $4.9B | $6.5B |
| Free Cash Flow | $15.3M +113.6% | -$112.5M -174.6% | $150.7M -31.0% | $218.4M +169.1% | $81.2M | $8.6B | -$16.8B | $11.1B |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Vestis Corporation
NYSE:VSTS
$1.74B
T1 Energy Inc
NYSE:TE
$1.48B
Heartland Express, Inc.
NASDAQ:HTLD
$1.25B
Sun Country Airlines Holdings, Inc.
SNCY
$876.36M
Quanex Building Products Corporation
NYSE:NX
$781.69M
Compass Diversified
NYSE:CODI
$773.43M
Cryoport, Inc.
NASDAQ:CYRX
$736.88M
FTAI Infrastructure Inc.
NASDAQ:FIP
$569.55M
Aspen Aerogels, Inc.
NYSE:ASPN
$490.63M
EHang Holdings Limited
NASDAQ:EH
$243.09M
SEC Filings
Recent regulatory filings
No filings found.
Does FWRD generate free cash flow?
Forward Air Corporation (FWRD) generated $15.27M of free cash flow in fiscal 2025.
How much operating cash flow does FWRD produce?
Operating cash flow was $44.38M, before capital expenditures of $29.12M.
Explore More
Continue the stock analysis
Jump to another research area for this company.