Forward Air Corporation (FWRD) — Tangible Net Worth Ratio
Forward Air Corporation (FWRD) has a Tangible Net Worth Ratio of -623.0% as of March 2026. This metric is calculated by deducting intangible assets ($884.02 Million) from net assets ($122.28 Million) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See Forward Air Corporation working capital to net assets to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Forward Air Corporation Tangible Net Worth Ratio (1993–2025)
This chart shows how Forward Air Corporation's Tangible Net Worth Ratio has changed across 33 annual periods from 1993 to 2025. As of March 2026, the ratio stands at -623.0%, reflecting net assets of $122.28 Million with intangible assets of $884.02 Million USD. See Forward Air Corporation (FWRD) liquidity interval to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Forward Air Corporation (1993–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Forward Air Corporation from 1993 to 2025, covering 33 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see Forward Air Corporation (FWRD) total market value.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | -460.9% | $161.66 Million | $906.79 Million | $2.74 Billion | ▼ -211.4 pp |
| 2024 | -249.5% | $285.87 Million | $999.22 Million | $2.80 Billion | ▼ -331.9 pp |
| 2023 | 82.4% | $764.26 Million | $134.79 Million | $2.98 Billion | ▼ -1.3 pp |
| 2022 | 83.7% | $707.24 Million | $115.58 Million | $1.21 Billion | ▲ +9.7 pp |
| 2021 | 73.9% | $593.65 Million | $154.72 Million | $1.12 Billion | ▲ +0.4 pp |
| 2020 | 73.5% | $547.33 Million | $145.03 Million | $1.05 Billion | ▼ -4.9 pp |
| 2019 | 78.4% | $577.18 Million | $124.86 Million | $990.88 Million | ▼ -1.1 pp |
| 2018 | 79.5% | $553.24 Million | $113.66 Million | $760.22 Million | ▲ +0.3 pp |
| 2017 | 79.1% | $533.49 Million | $111.25 Million | $687.72 Million | ▲ +0.5 pp |
| 2016 | 78.6% | $499.07 Million | $106.65 Million | $641.29 Million | ▲ +3.7 pp |
| 2015 | 74.9% | $510.06 Million | $127.80 Million | $700.17 Million | ▼ -9.4 pp |
| 2014 | 84.3% | $463.56 Million | $72.70 Million | $541.80 Million | ▼ -6.5 pp |
| 2013 | 90.8% | $435.87 Million | $40.11 Million | $506.27 Million | ▼ -2.9 pp |
| 2012 | 93.7% | $351.67 Million | $22.10 Million | $399.19 Million | ▲ +3.0 pp |
| 2011 | 90.7% | $286.90 Million | $26.67 Million | $341.15 Million | ▲ +2.9 pp |
| 2010 | 87.8% | $256.09 Million | $31.26 Million | $348.80 Million | ▲ +3.8 pp |
| 2009 | 84.0% | $224.65 Million | $35.85 Million | $316.64 Million | ▲ +2.9 pp |
| 2008 | 81.2% | $216.43 Million | $40.71 Million | $307.53 Million | ▼ -1.3 pp |
| 2007 | 82.5% | $171.73 Million | $29.99 Million | $241.88 Million | ▼ -11.7 pp |
| 2006 | 94.2% | $185.23 Million | $10.73 Million | $213.01 Million | ▲ +0.9 pp |
| 2005 | 93.3% | $178.82 Million | $12.01 Million | $212.60 Million | ▲ +1.9 pp |
| 2004 | 91.4% | $181.00 Million | $15.59 Million | $214.55 Million | ▲ +1.9 pp |
| 2003 | 89.4% | $147.71 Million | $15.59 Million | $175.09 Million | ▼ -10.1 pp |
| 2002 | 99.6% | $118.35 Million | $478.00K | $145.51 Million | ▲ +0.5 pp |
| 2001 | 99.1% | $106.58 Million | $931.00K | $136.96 Million | ▲ +17.2 pp |
| 2000 | 81.9% | $83.45 Million | $15.08 Million | $115.97 Million | ▼ -0.9 pp |
| 1999 | 82.8% | $54.95 Million | $9.46 Million | $79.62 Million | ▼ -17.2 pp |
| 1998 | 100.0% | $19.07 Million | $0.00 | $56.81 Million | ▲ +0.0 pp |
| 1997 | 100.0% | $50.46 Million | $0.00 | $118.33 Million | ▲ +0.0 pp |
| 1996 | 100.0% | $41.26 Million | $0.00 | $99.07 Million | ▲ +0.0 pp |
| 1995 | 100.0% | $36.60 Million | $0.00 | $98.30 Million | ▲ +0.0 pp |
| 1994 | 100.0% | $31.80 Million | $0.00 | $78.00 Million | ▲ +0.0 pp |
| 1993 | 100.0% | $27.30 Million | $0.00 | $49.00 Million | — |