Company / Operating Income
Forward Air Corp. Operating Income History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Income
$36.4M
FY2025
5-year range
-$1.1B / $147.0M
FY2021-FY2025
Trend
+103.4%
vs FY2024
Sector context
#255 of 328
Industrials
What the data says
Forward Air Corp.'s operating income of $36M is lower than 78% of companies in the Industrials sector (FY2025). Operating Income has fluctuated over the past 10 years, ranging from -$1.1B in FY2024 to $147M in FY2021.
Based on SEC 10-K filings.
$36M in FY2025 with a 5-year CAGR of -13.2%.
Declined from $88M to $36M over the past 2 years.
Industrials sector context is included.
Operating Income over time
Growth rates
- 3-Year CAGR
- -21.0%
- 5-Year CAGR
- -13.2%
- 10-Year CAGR
- -
Sector benchmark
Bottom 22% in IndustrialsTop 78% of 328This company $36.4M Sector average $718.3M
▼
-94.9% below sector average
Key checks
Key Insights
- 5-year CAGR of -13.2%, indicating a declining trend.
- In FY2025, operating income increased 103.4% year-over-year.
- Ranks #255 out of 328 companies in the Industrials sector.
- Peak operating income was recorded in FY2021.
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 | Operating IncomeValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $36.4M | +103.4% |
| FY2024 | -$1.1B | -1305.0% |
| FY2023 | $88.2M | +19.3% |
| FY2022 | $73.9M | -49.7% |
| FY2021 | $147.0M | +98.9% |
| FY2020 | $73.9M | -34.2% |
| FY2019 | $112.4M | -4.1% |
| FY2018 | $117.2M | +7.8% |
| FY2017 | $108.8M | +82.2% |
| FY2016 | $59.7M | -27.0% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026