Forward Air annual ebitda
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Forward Air EBITDA Growth & History (FWRD)
Forward Air's calculated EBITDA was $189.1M for fiscal 2025.
View full Forward Air company overviewForward Air annual ebitda history
| Fiscal year | Period ended | EBITDA | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $189.1M | $1.11B | — |
| 2024 | 2024-12-31 | −$919.0M | −$1.06B | — |
| 2023 | 2023-12-31 | $145.6M | −$144.5M | −49.81% |
| 2022 | 2022-12-31 | $290.1M | $108.2M | +59.43% |
| 2021 | 2021-12-31 | $182.0M | $70.9M | +63.88% |
| 2020 | 2020-12-31 | $111.0M | −$37.8M | −25.38% |
| 2019 | 2019-12-31 | $148.8M | −$4.2M | −2.77% |
| 2018 | 2018-12-31 | $153.0M | $3.2M | +2.16% |
| 2017 | 2017-12-31 | $149.8M | $51.9M | +53.01% |
| 2016 | 2016-12-31 | $97.9M | −$21.0M | −17.67% |
| 2015 | 2015-12-31 | $118.9M | −$8.6M | −6.75% |
| 2014 | 2014-12-31 | $127.5M | $19.6M | +18.16% |
| 2013 | 2013-12-31 | $107.9M | $3.4M | +3.23% |
| 2012 | 2012-12-31 | $104.6M | $6.5M | +6.57% |
| 2011 | 2011-12-31 | $98.1M | $23.9M | +32.23% |
| 2010 | 2010-12-31 | $74.2M | $35.9M | +93.85% |
| 2009 | 2009-12-31 | $38.3M | — | — |
Forward Air quarterly ebitda
Q2.10
Q3.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | EBITDA | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$163.1M | −$219.4M | — |
| Q1 2026 | 2026-03-31 | $59.0M | $16.8M | +39.98% |
| Q4 2025 | 2025-12-31 | $37.9M | −$75.7M | −66.65% |
| Q3 2025 | 2025-09-30 | $52.8M | $4.2M | +8.57% |
| Q2 2025 | 2025-06-30 | $56.3M | $1.10B | — |
| Q1 2025 | 2025-03-31 | $42.1M | $76.1M | — |
| Q4 2024 | 2024-12-31 | $113.5M | $92.9M | +451.60% |
| Q3 2024 | 2024-09-30 | $48.6M | $22.7M | +87.62% |
| Q2 2024 | 2024-06-30 | −$1.05B | −$1.09B | — |
| Q1 2024 | 2024-03-31 | −$33.9M | −$93.5M | — |
| Q4 2023 | 2023-12-31 | $20.6M | −$30.0M | −59.32% |
| Q3 2023 | 2023-09-30 | $25.9M | −$58.0M | −69.14% |
| Q2 2023 | 2023-06-30 | $39.6M | −$47.6M | −54.59% |
| Q1 2023 | 2023-03-31 | $59.6M | −$8.9M | −13.02% |
| Q4 2022 | 2022-12-31 | $50.6M | $4.0M | +8.56% |
| Q3 2022 | 2022-09-30 | $83.9M | $32.0M | +61.75% |
| Q2 2022 | 2022-06-30 | $87.1M | $35.6M | +69.08% |
| Q1 2022 | 2022-03-31 | $68.5M | $36.5M | +114.26% |
| Q4 2021 | 2021-12-31 | $46.6M | $16.7M | +55.68% |
| Q3 2021 | 2021-09-30 | $51.9M | $19.2M | +58.78% |
| Q2 2021 | 2021-06-30 | $51.5M | $28.2M | +120.94% |
| Q1 2021 | 2021-03-31 | $32.0M | $6.9M | +27.30% |
| Q4 2020 | 2020-12-31 | $29.9M | −$6.8M | −18.55% |
| Q3 2020 | 2020-09-30 | $32.7M | −$5.5M | −14.45% |
| Q2 2020 | 2020-06-30 | $23.3M | −$15.0M | −39.09% |
| Q1 2020 | 2020-03-31 | $25.1M | −$10.5M | −29.40% |
| Q4 2019 | 2019-12-31 | $36.8M | $2.0M | +5.86% |
| Q3 2019 | 2019-09-30 | $38.2M | −$2.0M | −4.91% |
| Q2 2019 | 2019-06-30 | $38.3M | −$4.9M | −11.42% |
| Q1 2019 | 2019-03-31 | $35.6M | $636,000 | +1.82% |
| Q4 2018 | 2018-12-31 | $34.7M | −$3.6M | −9.40% |
| Q3 2018 | 2018-09-30 | $40.2M | $2.7M | +7.12% |
| Q2 2018 | 2018-06-30 | $43.2M | $3.0M | +7.50% |
| Q1 2018 | 2018-03-31 | $34.9M | $1.1M | +3.40% |
| Q4 2017 | 2017-12-31 | $38.3M | $571,000 | +1.51% |
| Q3 2017 | 2017-09-30 | $37.5M | $3.4M | +9.98% |
| Q2 2017 | 2017-06-30 | $40.2M | $45.2M | — |
| Q1 2017 | 2017-03-31 | $33.8M | $2.7M | +8.70% |
| Q4 2016 | 2016-12-31 | $37.7M | −$821,000 | −2.13% |
| Q3 2016 | 2016-09-30 | $34.1M | $99,000 | +0.29% |
| Q2 2016 | 2016-06-30 | −$5.0M | −$34.4M | — |
| Q1 2016 | 2016-03-31 | $31.1M | $14.1M | +83.51% |
| Q4 2015 | 2015-12-31 | $38.6M | $4.7M | +13.81% |
| Q3 2015 | 2015-09-30 | $34.0M | −$1.0M | −2.92% |
| Q2 2015 | 2015-06-30 | $29.4M | −$5.9M | −16.75% |
| Q1 2015 | 2015-03-31 | $16.9M | −$6.4M | −27.28% |
| Q4 2014 | 2014-12-31 | $33.9M | $4.5M | +15.25% |
| Q3 2014 | 2014-09-30 | $35.0M | $5.9M | +20.44% |
| Q2 2014 | 2014-06-30 | $35.3M | $6.9M | +24.13% |
| Q1 2014 | 2014-03-31 | $23.3M | $2.3M | +11.00% |
| Q4 2013 | 2013-12-31 | $29.4M | $290,000 | +1.00% |
| Q3 2013 | 2013-09-30 | $29.1M | $4.0M | +16.07% |
| Q2 2013 | 2013-06-30 | $28.5M | −$1,000 | −0.00% |
| Q1 2013 | 2013-03-31 | $21.0M | −$934,000 | −4.26% |
| Q4 2012 | 2012-12-31 | $29.1M | $227,000 | +0.79% |
| Q3 2012 | 2012-09-30 | $25.1M | −$698,000 | −2.71% |
| Q2 2012 | 2012-06-30 | $28.5M | $3.4M | +13.46% |
| Q1 2012 | 2012-03-31 | $21.9M | $3.5M | +19.28% |
| Q4 2011 | 2011-12-31 | $28.9M | $8.2M | +39.33% |
| Q3 2011 | 2011-09-30 | $25.7M | $7.1M | +38.37% |
| Q2 2011 | 2011-06-30 | $25.1M | — | — |
| Q1 2011 | 2011-03-31 | $18.4M | — | — |
| Q3 2010 | 2010-09-30 | $20.7M | — | — |
| Q2 2010 | 2010-06-30 | $18.6M | — | — |
Forward Air ebitda trends
Over the last five reported fiscal years, Forward Air's ebitda increased from $111.0M to $189.1M, a change of $78.0M. The latest reported quarter, Q2 2026, shows −$163.1M.
About the metric
What EBITDA means
EBITDA is a measure of operating performance before interest, taxes, depreciation, and amortization. It can help compare operating results, but it is not a substitute for cash flow or GAAP net income.
Calculation and source
How TickerStat calculates EBITDA
TickerStat calculates EBITDA as operating income plus reported depreciation and amortization for aligned fiscal periods. It is calculated data, not adjusted EBITDA or company guidance. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Forward Air filings at SEC.gov ↗