Forward Air Corporation (FWRD) — Cash Flow-to-Debt Ratio
Forward Air Corporation (FWRD) has a Cash Flow-to-Debt Ratio of 0.00x as of June 2026, meaning its operating cash flow of $-4.88 Million could theoretically repay 0% of its total liabilities ($2.53 Billion) in one year. See Forward Air Corporation (FWRD) financial flexibility to measure the company's free cash flow as a share of total liabilities.
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. For the full cash flow conversion analysis, see how efficiently does Forward Air Corporation generate cash.
Annual Cash Flow-to-Debt Ratio for Forward Air Corporation (1993–2025)
Year-by-year debt coverage analysis for Forward Air Corporation. Check FWRD cash flow quality score to evaluate the quality of earnings relative to operating cash generation.
| 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 | — |