Forward Air Corporation (FWRD) — Cash Flow Quality Index
Forward Air Corporation (FWRD) has a Cash Flow Quality Index of 3.22x as of September 2023. Operating cash flow of $29.86 Million exceeds net income of $9.29 Million, indicating high earnings quality where cash backs reported profits. Explore cash flow to debt ratio of Forward Air Corporation to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
Forward Air Corporation Cash Flow Quality Index (1993–2023)
Historical Cash Flow Quality Index for Forward Air Corporation across 31 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see how efficiently does Forward Air Corporation generate cash.
Annual Cash Flow Quality Index for Forward Air Corporation (1993–2023)
Year-by-year earnings quality comparison for Forward Air Corporation.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2023 | 4.24x | $181.39 Million | $42.80 Million | ▲ +216.0% |
| 2022 | 1.34x | $259.09 Million | $193.19 Million | ▲ +29.5% |
| 2021 | 1.04x | $120.26 Million | $116.09 Million | ▼ -35.0% |
| 2020 | 1.59x | $84.11 Million | $52.77 Million | ▼ -14.0% |
| 2019 | 1.85x | $161.48 Million | $87.10 Million | ▲ +11.9% |
| 2018 | 1.66x | $152.55 Million | $92.05 Million | ▲ +40.0% |
| 2017 | 1.18x | $103.36 Million | $87.32 Million | ▼ -74.9% |
| 2016 | 4.71x | $130.35 Million | $27.67 Million | ▲ +205.4% |
| 2015 | 1.54x | $85.72 Million | $55.58 Million | ▲ +2.9% |
| 2014 | 1.50x | $91.66 Million | $61.17 Million | ▼ -10.2% |
| 2013 | 1.67x | $90.84 Million | $54.47 Million | ▲ +28.1% |
| 2012 | 1.30x | $68.59 Million | $52.67 Million | ▼ -20.1% |
| 2011 | 1.63x | $76.96 Million | $47.20 Million | ▼ -3.3% |
| 2010 | 1.69x | $53.99 Million | $32.04 Million | ▼ -66.6% |
| 2009 | 5.05x | $50.18 Million | $9.95 Million | ▲ +263.3% |
| 2008 | 1.39x | $59.08 Million | $42.54 Million | ▼ 0.0% |
| 2007 | 1.39x | $62.39 Million | $44.92 Million | ▲ +29.5% |
| 2006 | 1.07x | $52.47 Million | $48.92 Million | ▼ -6.0% |
| 2005 | 1.14x | $51.23 Million | $44.91 Million | ▲ +5.0% |
| 2004 | 1.09x | $37.41 Million | $34.42 Million | ▼ -13.9% |
| 2003 | 1.26x | $32.74 Million | $25.94 Million | ▼ -8.3% |
| 2002 | 1.38x | $29.95 Million | $21.76 Million | ▼ -23.0% |
| 2001 | 1.79x | $35.53 Million | $19.88 Million | ▲ +23.8% |
| 2000 | 1.44x | $33.83 Million | $23.45 Million | ▲ +15.1% |
| 1999 | 1.25x | $20.10 Million | $16.04 Million | ▲ +433.8% |
| 1998 | 0.23x | $1.90 Million | $8.08 Million | ▼ -91.1% |
| 1997 | 2.63x | $22.56 Million | $8.59 Million | ▼ -16.6% |
| 1996 | 3.15x | $12.52 Million | $3.98 Million | ▼ -10.4% |
| 1995 | 3.51x | $15.80 Million | $4.50 Million | ▲ +52.7% |
| 1994 | 2.30x | $9.20 Million | $4.00 Million | ▲ +197.6% |
| 1993 | 0.77x | $1.70 Million | $2.20 Million | — |