Company / Interest Expense
Forward Air Corp. Interest Expense History
FY2016-FY2023 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Interest Expense
$31.6M
FY2023
5-year range
-$4.6M / $31.6M
FY2019-FY2023
Trend
+792.2%
vs FY2022
Sector context
#57 of 111
Industrials
What the data says
Interest Expense changed +792% YoY in FY2023, a notable deviation from the 7-year average annual change of +104%.
Based on SEC 10-K filings.
$32M in FY2023 with a 5-year CAGR of +77.7%.
Increased from $4M to $32M over the past 2 years.
Industrials sector context is included.
Interest Expense over time
Growth rates
- 3-Year CAGR
- +90.6%
- 5-Year CAGR
- +77.7%
- 10-Year CAGR
- -
Sector benchmark
#55 of 111 in IndustrialsTop 49% of 111This company $31.6M Sector average $108.8M
▼
-71.0% below sector average
Key checks
Key Insights
- 5-year CAGR of +77.7%, indicating consistent growth.
- In FY2023, interest expense increased 792.2% year-over-year.
- Ranks #57 out of 111 companies in the Industrials sector.
- Lowest interest expense in the period was in FY2022.
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 | Interest ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | - | - |
| FY2024 | - | - |
| FY2023 | $31.6M | +792.2% |
| FY2022 | -$4.6M | -205.1% |
| FY2021 | $4.3M | -4.9% |
| FY2020 | $4.6M | +68.2% |
| FY2019 | $2.7M | +52.0% |
| FY2018 | $1.8M | +47.5% |
| FY2017 | $1.2M | -24.3% |
| FY2016 | $1.6M | -22.0% |
As of FY2023 · SEC 10-K · Updated Jun 30, 2026