Forward Air Corporation (FWRD) — Cash Flow-to-Debt Ratio
Forward Air Corporation (FWRD) has a Cash Flow-to-Debt Ratio of 0.02x as of March 2026, meaning its operating cash flow of $45.74 Million could theoretically repay 0% of its total liabilities ($2.57 Billion) in one year. See FWRD cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Forward Air Corporation Cash Flow-to-Debt Ratio (1993–2025)
Historical debt coverage capacity for Forward Air Corporation across 33 annual periods. Also explore Forward Air Corporation net asset momentum to track the company's year-over-year net asset growth rate.
Annual Cash Flow-to-Debt Ratio for Forward Air Corporation (1993–2025)
Year-by-year debt coverage analysis for Forward Air Corporation. For market capitalisation and broader financial context, see how much is Forward Air Corporation worth.
| Year | CF-to-Debt Ratio | Operating CF (USD) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.02x | $44.38 Million | $2.58 Billion | ▲ +157.4% |
| 2024 | -0.03x | $-75.40 Million | $2.52 Billion | ▼ -136.6% |
| 2023 | 0.08x | $181.39 Million | $2.22 Billion | ▼ -84.2% |
| 2022 | 0.52x | $259.09 Million | $500.83 Million | ▲ +125.5% |
| 2021 | 0.23x | $120.26 Million | $524.17 Million | ▲ +36.4% |
| 2020 | 0.17x | $84.11 Million | $500.06 Million | ▼ -56.9% |
| 2019 | 0.39x | $161.48 Million | $413.70 Million | ▼ -47.0% |
| 2018 | 0.74x | $152.55 Million | $206.97 Million | ▲ +10.0% |
| 2017 | 0.67x | $103.36 Million | $154.23 Million | ▼ -26.9% |
| 2016 | 0.92x | $130.35 Million | $142.22 Million | ▲ +103.3% |
| 2015 | 0.45x | $85.72 Million | $190.12 Million | ▼ -61.5% |
| 2014 | 1.17x | $91.66 Million | $78.24 Million | ▼ -9.2% |
| 2013 | 1.29x | $90.84 Million | $70.40 Million | ▼ -10.6% |
| 2012 | 1.44x | $68.59 Million | $47.52 Million | ▲ +1.7% |
| 2011 | 1.42x | $76.96 Million | $54.25 Million | ▲ +143.6% |
| 2010 | 0.58x | $53.99 Million | $92.71 Million | ▲ +6.8% |
| 2009 | 0.55x | $50.18 Million | $91.99 Million | ▼ -15.9% |
| 2008 | 0.65x | $59.08 Million | $91.09 Million | ▼ -27.1% |
| 2007 | 0.89x | $62.39 Million | $70.15 Million | ▼ -52.9% |
| 2006 | 1.89x | $52.47 Million | $27.79 Million | ▲ +24.5% |
| 2005 | 1.52x | $51.23 Million | $33.78 Million | ▲ +36.0% |
| 2004 | 1.12x | $37.41 Million | $33.55 Million | ▼ -6.7% |
| 2003 | 1.20x | $32.74 Million | $27.38 Million | ▲ +8.5% |
| 2002 | 1.10x | $29.95 Million | $27.16 Million | ▼ -5.7% |
| 2001 | 1.17x | $35.53 Million | $30.37 Million | ▲ +12.4% |
| 2000 | 1.04x | $33.83 Million | $32.52 Million | ▲ +27.7% |
| 1999 | 0.82x | $20.10 Million | $24.66 Million | ▲ +1521.4% |
| 1998 | 0.05x | $1.90 Million | $37.74 Million | ▼ -84.9% |
| 1997 | 0.33x | $22.56 Million | $67.87 Million | ▲ +53.5% |
| 1996 | 0.22x | $12.52 Million | $57.81 Million | ▼ -15.4% |
| 1995 | 0.26x | $15.80 Million | $61.70 Million | ▲ +28.6% |
| 1994 | 0.20x | $9.20 Million | $46.20 Million | ▲ +154.2% |
| 1993 | 0.08x | $1.70 Million | $21.70 Million | — |