Forward Air Corporation (FWRD) — Capital Reinvestment Ratio
Latest as of March 2026:
0.15x
Forward Air Corporation (FWRD) has a Capital Reinvestment Ratio of 0.15x as of March 2026, meaning it reinvests 0% of its operating cash flow ($45.74 Million) in capital expenditures ($6.95 Million). See Forward Air Corporation free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
0.15x
Capex / Operating Cash Flow
Operating Cash Flow
$45.74 Million
USD
Capital Expenditures
$6.95 Million
USD
Data as of
Mar 2026
Most recent filing
Forward Air Corporation Capital Reinvestment Ratio (1993–2025)
This chart tracks Forward Air Corporation's Capital Reinvestment Ratio across 32 annual periods.
Annual Capital Reinvestment Ratio for Forward Air Corporation (1993–2025)
Year-by-year Capital Reinvestment Ratio for Forward Air Corporation from 1993 to 2025. For live market cap and broader valuation context, see market cap of Forward Air Corporation.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.66x | $44.38 Million | $29.12 Million | ▲ +287.3% |
| 2023 | 0.17x | $181.39 Million | $30.73 Million | ▲ +7.8% |
| 2022 | 0.16x | $259.09 Million | $40.73 Million | ▼ -51.7% |
| 2021 | 0.33x | $120.26 Million | $39.11 Million | ▲ +35.0% |
| 2020 | 0.24x | $84.11 Million | $20.27 Million | ▲ +26.9% |
| 2019 | 0.19x | $161.48 Million | $30.67 Million | ▼ -31.5% |
| 2018 | 0.28x | $152.55 Million | $42.29 Million | ▼ -25.1% |
| 2017 | 0.37x | $103.36 Million | $38.27 Million | ▲ +14.4% |
| 2016 | 0.32x | $130.35 Million | $42.19 Million | ▼ -31.5% |
| 2015 | 0.47x | $85.72 Million | $40.49 Million | ▲ +9.7% |
| 2014 | 0.43x | $91.66 Million | $39.49 Million | ▲ +10.4% |
| 2013 | 0.39x | $90.84 Million | $35.44 Million | ▲ +25.3% |
| 2012 | 0.31x | $68.59 Million | $21.35 Million | ▲ +12.9% |
| 2011 | 0.28x | $76.96 Million | $21.22 Million | ▼ -1.7% |
| 2010 | 0.28x | $53.99 Million | $15.15 Million | ▼ -32.5% |
| 2009 | 0.42x | $50.18 Million | $20.85 Million | ▼ -8.1% |
| 2008 | 0.45x | $59.08 Million | $26.70 Million | ▼ -40.0% |
| 2007 | 0.75x | $62.39 Million | $47.03 Million | ▲ +155.9% |
| 2006 | 0.29x | $52.47 Million | $15.45 Million | ▼ -31.6% |
| 2005 | 0.43x | $51.23 Million | $22.08 Million | ▲ +44.0% |
| 2004 | 0.30x | $37.41 Million | $11.20 Million | ▲ +241.0% |
| 2003 | 0.09x | $32.74 Million | $2.87 Million | ▼ -32.8% |
| 2002 | 0.13x | $29.95 Million | $3.91 Million | ▼ -4.2% |
| 2001 | 0.14x | $35.53 Million | $4.84 Million | ▼ -72.1% |
| 2000 | 0.49x | $33.83 Million | $16.55 Million | ▲ +32.7% |
| 1999 | 0.37x | $20.10 Million | $7.41 Million | ▼ -94.1% |
| 1998 | 6.20x | $1.90 Million | $11.76 Million | ▲ +633.6% |
| 1997 | 0.85x | $22.56 Million | $19.07 Million | ▲ +20.8% |
| 1996 | 0.70x | $12.52 Million | $8.76 Million | ▼ -55.2% |
| 1995 | 1.56x | $15.80 Million | $24.70 Million | ▼ -60.6% |
| 1994 | 3.97x | $9.20 Million | $36.50 Million | ▼ -68.5% |
| 1993 | 12.59x | $1.70 Million | $21.40 Million | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow