Forward Air Corporation (FWRD) — Financial Flexibility Index
Forward Air Corporation (FWRD) has a Financial Flexibility Index of 0.02x as of March 2026. Free cash flow of $52.68 Million (operating CF $45.74 Million minus capex $6.95 Million) represents 0% of total liabilities ($2.57 Billion). Check strategic asset allocation of Forward Air Corporation to assess the company's strategic physical and investment asset allocation.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Forward Air Corporation Financial Flexibility Index (1993–2025)
Historical Financial Flexibility Index trend for Forward Air Corporation across 33 annual periods. See FWRD working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for Forward Air Corporation (1993–2025)
Year-by-year free cash flow to debt coverage for Forward Air Corporation. For the full company profile including market capitalisation, see Forward Air Corporation (FWRD) market capitalisation.
| Year | Flexibility Index | Free Cash Flow (USD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.03x | $73.50 Million | $44.38 Million | $2.58 Billion | ▲ +286.8% |
| 2024 | -0.02x | $-38.34 Million | $-75.40 Million | $2.52 Billion | ▼ -115.9% |
| 2023 | 0.10x | $212.11 Million | $181.39 Million | $2.22 Billion | ▼ -84.0% |
| 2022 | 0.60x | $299.82 Million | $259.09 Million | $500.83 Million | ▲ +96.9% |
| 2021 | 0.30x | $159.37 Million | $120.26 Million | $524.17 Million | ▲ +45.7% |
| 2020 | 0.21x | $104.38 Million | $84.11 Million | $500.06 Million | ▼ -55.1% |
| 2019 | 0.46x | $192.14 Million | $161.48 Million | $413.70 Million | ▼ -50.7% |
| 2018 | 0.94x | $194.85 Million | $152.55 Million | $206.97 Million | ▲ +2.5% |
| 2017 | 0.92x | $141.63 Million | $103.36 Million | $154.23 Million | ▼ -24.3% |
| 2016 | 1.21x | $172.54 Million | $130.35 Million | $142.22 Million | ▲ +82.7% |
| 2015 | 0.66x | $126.22 Million | $85.72 Million | $190.12 Million | ▼ -60.4% |
| 2014 | 1.68x | $131.15 Million | $91.66 Million | $78.24 Million | ▼ -6.5% |
| 2013 | 1.79x | $126.28 Million | $90.84 Million | $70.40 Million | ▼ -5.2% |
| 2012 | 1.89x | $89.94 Million | $68.59 Million | $47.52 Million | ▲ +4.6% |
| 2011 | 1.81x | $98.17 Million | $76.96 Million | $54.25 Million | ▲ +142.7% |
| 2010 | 0.75x | $69.14 Million | $53.99 Million | $92.71 Million | ▼ -3.4% |
| 2009 | 0.77x | $71.03 Million | $50.18 Million | $91.99 Million | ▼ -18.0% |
| 2008 | 0.94x | $85.78 Million | $59.08 Million | $91.09 Million | ▼ -39.6% |
| 2007 | 1.56x | $109.42 Million | $62.39 Million | $70.15 Million | ▼ -36.2% |
| 2006 | 2.44x | $67.92 Million | $52.47 Million | $27.79 Million | ▲ +12.6% |
| 2005 | 2.17x | $73.31 Million | $51.23 Million | $33.78 Million | ▲ +49.8% |
| 2004 | 1.45x | $48.62 Million | $37.41 Million | $33.55 Million | ▲ +11.4% |
| 2003 | 1.30x | $35.62 Million | $32.74 Million | $27.38 Million | ▲ +4.3% |
| 2002 | 1.25x | $33.87 Million | $29.95 Million | $27.16 Million | ▼ -6.2% |
| 2001 | 1.33x | $40.37 Million | $35.53 Million | $30.37 Million | ▼ -14.2% |
| 2000 | 1.55x | $50.38 Million | $33.83 Million | $32.52 Million | ▲ +38.9% |
| 1999 | 1.12x | $27.52 Million | $20.10 Million | $24.66 Million | ▲ +208.2% |
| 1998 | 0.36x | $13.66 Million | $1.90 Million | $37.74 Million | ▼ -41.0% |
| 1997 | 0.61x | $41.64 Million | $22.56 Million | $67.87 Million | ▲ +66.6% |
| 1996 | 0.37x | $21.29 Million | $12.52 Million | $57.81 Million | ▼ -43.9% |
| 1995 | 0.66x | $40.50 Million | $15.80 Million | $61.70 Million | ▼ -33.6% |
| 1994 | 0.99x | $45.70 Million | $9.20 Million | $46.20 Million | ▼ -7.1% |
| 1993 | 1.06x | $23.10 Million | $1.70 Million | $21.70 Million | — |