Company / Free Cash Flow
Forward Air Corp. Free Cash Flow History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Free Cash Flow
$15.3M
FY2025
5-year range
-$106.1M / $168.5M
FY2021-FY2025
Trend
+114.4%
vs FY2024
Sector context
#274 of 336
Industrials
What the data says
Forward Air Corp.'s free cash flow of $15M is lower than 82% of companies in the Industrials sector (FY2025). Free Cash Flow has fluctuated over the past 10 years, ranging from -$106M in FY2024 to $168M in FY2023.
Based on SEC 10-K filings.
$15M in FY2025 with a 5-year CAGR of -27.4%.
Declined from $168M to $15M over the past 2 years.
Industrials sector context is included.
Free Cash Flow over time
Growth rates
- 3-Year CAGR
- -41.4%
- 5-Year CAGR
- -27.4%
- 10-Year CAGR
- -
Sector benchmark
Bottom 18% in IndustrialsTop 82% of 336This company $15.3M Sector average $628.9M
▼
-97.6% below sector average
Key checks
Key Insights
- 5-year CAGR of -27.4%, indicating a declining trend.
- In FY2025, free cash flow increased 114.4% year-over-year.
- Ranks #274 out of 336 companies in the Industrials sector.
- Peak free cash flow was recorded in FY2023.
Company context
Key Data Points
- Altman Z-Score 0.86 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Free Cash FlowValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $15.3M | +114.4% |
| FY2024 | -$106.1M | -163.0% |
| FY2023 | $168.5M | +122.2% |
| FY2022 | $75.8M | -7.8% |
| FY2021 | $82.2M | +8.4% |
| FY2020 | $75.8M | -44.6% |
| FY2019 | $137.0M | +21.3% |
| FY2018 | $113.0M | +73.6% |
| FY2017 | $65.1M | -26.2% |
| FY2016 | $88.2M | +94.9% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026