Company / Operating Margin
Forward Air Corp. Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
1.5%
FY2025
5-year range
-43.0% / 10.6%
FY2021-FY2025
Trend
+103.4%
vs FY2024
Sector context
#248 of 304
Industrials
What the data says
Forward Air Corp.'s operating margin of 1.5% is lower than 82% of companies in the Industrials sector (FY2025). Operating Margin has fluctuated over the past 10 years, ranging from -43.0% in FY2024 to 10.6% in FY2021.
Based on SEC 10-K filings.
1.5% in FY2025 with a 5-year CAGR of -4.4%.
Declined from 6.4% to 1.5% over the past 2 years.
Industrials sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -4.4pp
- 5-Year Change
- -4.4pp
- 10-Year Change
- -
Sector benchmark
Bottom 18% in IndustrialsTop 82% of 304This company 1.5% Sector average -843.0%
▼
+100.2% above sector average
Key checks
Key Insights
- In FY2025, operating margin increased 103.4% year-over-year.
- Currently 844.4pp above the Industrials sector average.
- Peak operating margin was recorded in FY2021.
- Lowest operating margin in the period was in FY2024.
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 MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 1.5% | +103.4% |
| FY2024 | -43.0% | -767.1% |
| FY2023 | 6.4% | +10.7% |
| FY2022 | 5.8% | -45.1% |
| FY2021 | 10.6% | +82.1% |
| FY2020 | 5.8% | -37.1% |
| FY2019 | 9.3% | -10.2% |
| FY2018 | 10.3% | +10.8% |
| FY2017 | 9.3% | +60.3% |
| FY2016 | 5.8% | -32.0% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026