Forward Air annual return on equity
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Forward Air Return on Equity (ROE) Growth & History (FWRD)
Forward Air's return on equity was −68.43% for fiscal 2025.
View full Forward Air company overviewForward Air annual return on equity history
| Fiscal year | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | −68.43% | +100.72 pp |
| 2024 | 2024-12-31 | −169.15% | −191.89 pp |
| 2023 | 2023-12-31 | 22.75% | −6.96 pp |
| 2022 | 2022-12-31 | 29.70% | +11.15 pp |
| 2021 | 2021-12-31 | 18.56% | +14.33 pp |
| 2020 | 2020-12-31 | 4.22% | −11.19 pp |
| 2019 | 2019-12-31 | 15.41% | −1.54 pp |
| 2018 | 2018-12-31 | 16.95% | +0.03 pp |
| 2017 | 2017-12-31 | 16.93% | +11.47 pp |
| 2016 | 2016-12-31 | 5.46% | −5.96 pp |
| 2015 | 2015-12-31 | 11.42% | −2.18 pp |
| 2014 | 2014-12-31 | 13.60% | −0.23 pp |
| 2013 | 2013-12-31 | 13.83% | −2.66 pp |
| 2012 | 2012-12-31 | 16.50% | −0.89 pp |
| 2011 | 2011-12-31 | 17.38% | +4.05 pp |
| 2010 | 2010-12-31 | 13.33% | +8.89 pp |
| 2009 | 2009-12-31 | 4.45% | — |
Forward Air quarterly return on equity
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Q1.11
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Q3.12
Q4.12
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Q3.13
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Q4.16
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Q3.17
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Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
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Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
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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
| Fiscal quarter | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-03-31 | −35.32% | −6.90 pp |
| Q4 2025 | 2025-12-31 | −22.38% | −5.36 pp |
| Q3 2025 | 2025-09-30 | −11.15% | +17.65 pp |
| Q2 2025 | 2025-06-30 | −8.21% | +98.48 pp |
| Q1 2025 | 2025-03-31 | −28.42% | −21.12 pp |
| Q4 2024 | 2024-12-31 | −17.02% | −31.25 pp |
| Q3 2024 | 2024-09-30 | −28.80% | −30.18 pp |
| Q2 2024 | 2024-06-30 | −106.70% | −109.63 pp |
| Q1 2024 | 2024-03-31 | −7.30% | −12.52 pp |
| Q4 2023 | 2023-12-31 | 14.23% | +8.05 pp |
| Q3 2023 | 2023-09-30 | 1.39% | −6.35 pp |
| Q2 2023 | 2023-06-30 | 2.94% | −5.75 pp |
| Q1 2023 | 2023-03-31 | 5.22% | −1.86 pp |
| Q4 2022 | 2022-12-31 | 6.18% | −0.86 pp |
| Q3 2022 | 2022-09-30 | 7.74% | +3.48 pp |
| Q2 2022 | 2022-06-30 | 8.69% | +3.08 pp |
| Q1 2022 | 2022-03-31 | 7.08% | +5.03 pp |
| Q4 2021 | 2021-12-31 | 7.04% | +7.85 pp |
| Q3 2021 | 2021-09-30 | 4.26% | +1.28 pp |
| Q2 2021 | 2021-06-30 | 5.60% | +5.05 pp |
| Q1 2021 | 2021-03-31 | 2.05% | +0.58 pp |
| Q4 2020 | 2020-12-31 | −0.81% | −5.05 pp |
| Q3 2020 | 2020-09-30 | 2.98% | −1.02 pp |
| Q2 2020 | 2020-06-30 | 0.56% | −3.49 pp |
| Q1 2020 | 2020-03-31 | 1.47% | −1.86 pp |
| Q4 2019 | 2019-12-31 | 4.25% | −0.78 pp |
| Q3 2019 | 2019-09-30 | 3.99% | −0.10 pp |
| Q2 2019 | 2019-06-30 | 4.05% | −0.50 pp |
| Q1 2019 | 2019-03-31 | 3.33% | −0.02 pp |
| Q4 2018 | 2018-12-31 | 5.03% | −1.65 pp |
| Q3 2018 | 2018-09-30 | 4.10% | +0.52 pp |
| Q2 2018 | 2018-06-30 | 4.55% | +0.69 pp |
| Q1 2018 | 2018-03-31 | 3.35% | +0.43 pp |
| Q4 2017 | 2017-12-31 | 6.68% | +4.12 pp |
| Q3 2017 | 2017-09-30 | 3.58% | +1.16 pp |
| Q2 2017 | 2017-06-30 | 3.86% | +5.87 pp |
| Q1 2017 | 2017-03-31 | 2.92% | +0.35 pp |
| Q4 2016 | 2016-12-31 | 2.56% | −2.08 pp |
| Q3 2016 | 2016-09-30 | 2.42% | −0.78 pp |
| Q2 2016 | 2016-06-30 | −2.01% | −4.46 pp |
| Q1 2016 | 2016-03-31 | 2.57% | +1.54 pp |
| Q4 2015 | 2015-12-31 | 4.64% | +0.89 pp |
| Q3 2015 | 2015-09-30 | 3.20% | −0.53 pp |
| Q2 2015 | 2015-06-30 | 2.45% | −1.35 pp |
| Q1 2015 | 2015-03-31 | 1.03% | −1.27 pp |
| Q4 2014 | 2014-12-31 | 3.75% | +0.10 pp |
| Q3 2014 | 2014-09-30 | 3.73% | +0.28 pp |
| Q2 2014 | 2014-06-30 | 3.80% | +0.27 pp |
| Q1 2014 | 2014-03-31 | 2.29% | −0.67 pp |
| Q4 2013 | 2013-12-31 | 3.65% | −0.99 pp |
| Q3 2013 | 2013-09-30 | 3.45% | −0.29 pp |
| Q2 2013 | 2013-06-30 | 3.53% | −1.02 pp |
| Q1 2013 | 2013-03-31 | 2.97% | −0.51 pp |
| Q4 2012 | 2012-12-31 | 4.64% | −0.55 pp |
| Q3 2012 | 2012-09-30 | 3.74% | −0.92 pp |
| Q2 2012 | 2012-06-30 | 4.54% | +0.20 pp |
| Q1 2012 | 2012-03-31 | 3.47% | +0.47 pp |
| Q4 2011 | 2011-12-31 | 5.18% | +0.46 pp |
| Q3 2011 | 2011-09-30 | 4.66% | +0.96 pp |
| Q2 2011 | 2011-06-30 | 4.34% | +0.90 pp |
| Q1 2011 | 2011-03-31 | 3.00% | — |
| Q4 2010 | 2010-12-31 | 4.72% | — |
| Q3 2010 | 2010-09-30 | 3.71% | — |
| Q2 2010 | 2010-06-30 | 3.44% | — |
Forward Air return on equity trends
Over the last five fiscal years, Forward Air's return on equity decreased from 4.22% to −68.43%, a change of −72.65 percentage points. The latest reported quarter, Q1 2026, shows −35.32%.
About the metric
What return on equity (ROE) means
Return on equity (ROE) measures how much net income a company generates relative to shareholders’ equity. It can help evaluate how efficiently equity capital is used, but unusually high or negative values may reflect leverage, losses, or a small equity base.
Calculation and source
How return on equity is calculated
TickerStat calculates ROE as SEC-reported net income divided by average stockholders’ equity at the beginning and end of the fiscal period. Periods with missing or non-positive average equity are omitted. Quarterly ROE uses quarterly net income and is not annualized. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Forward Air source filings ↗