FORWARD AIR CORP FWRD
Nasdaq · XNAS · stock · Arrangement of Transportation of Freight & Cargo
Chart by TradingView
4/9
Piotroski F — financial health
-0.18
Altman Z″ — distress risk · distress
—
Dividend payout · no dividend
Financials (annual, from 10-K)
| FY | Revenue | Net income | Gross profit | Free cash flow | Equity |
|---|---|---|---|---|---|
| 2025 | $2.5B | -$107.8M | — | $15.3M | $113.3M |
| 2024 | $2.5B | -$817.0M | — | -$106.1M | $285.9M |
| 2023 | $1.4B | $167.4M | — | $168.5M | $764.3M |
| 2022 | $1.7B | $193.2M | — | $210.9M | $707.2M |
| 2021 | $1.4B | $105.9M | — | $82.2M | $593.7M |
| 2020 | $1.3B | $23.7M | — | $75.8M | $547.3M |
Recent insider activity (Form 4)
| Insider | Role | Date | Action | Shares | Price |
|---|---|---|---|---|---|
| Svindland Paul C. | director | 2026-06-18 | Grant | 9,545 | — |
| Boyles Dale W | director | 2026-06-18 | Grant | 9,545 | — |
| Gorjanc Christine Marie | director | 2026-06-18 | Grant | 9,545 | — |
| Stewart Shawn | Chief Executive Officer | 2026-04-29 | Tax withheld | 4,136 | $21.51 |
| Pierson Jamie G. | CFO | 2026-03-16 | Grant | 5,732 | — |
| Stewart Shawn | Chief Executive Officer | 2026-03-16 | Grant | 18,692 | — |
| Hance Michael L | CLO and Secretary | 2026-03-15 | Tax withheld | 869 | $16.05 |
| OSBORNE TIMOTHY R | Executive VP of Operations | 2026-03-15 | Tax withheld | 2,109 | $16.05 |
Why these scores methodology →
Piotroski F-score: 4/9
- Positive return on assets
- Positive operating cash flow
- Rising ROA
- Cash flow exceeds net income
- Lower long-term debt
- Rising current ratio
- No share dilution
- Rising gross margin
- Rising asset turnover
Altman Z″: -0.18 (distress)
- Working capital / assets 0.034
- Retained earnings / assets -0.164
- EBIT / assets 0.013
- Equity / liabilities 0.044
Source: SEC EDGAR filings · CIK 0000912728 · as of 2025-12-31. Figures are facts from filings plus Stocktoria's own computed scores — not investment advice.