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 FWRD net assets for net asset value and shareholders' equity analysis.
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. Also explore net asset growth rate of Forward Air Corporation to track the company's year-over-year net asset growth rate.
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 FWRD stock market capitalisation.
| 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 | — |