Company / Working Capital
Forward Air Corp. Working Capital History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Working Capital
$92.7M
FY2025
5-year range
$88.5M / $134.9M
FY2021-FY2025
Trend
+4.8%
vs FY2024
Sector context
#277 of 346
Industrials
What the data says
Forward Air Corp.'s working capital of $93M is lower than 80% of companies in the Industrials sector (FY2025). Working Capital returned to growth in FY2025 after 2 years of decline, reaching $93M.
Based on SEC 10-K filings.
$93M in FY2025 with a 5-year CAGR of +4.5%.
Declined from $110M to $93M over the past 2 years.
Industrials sector context is included.
Working Capital over time
Growth rates
- 3-Year CAGR
- -11.8%
- 5-Year CAGR
- +4.5%
- 10-Year CAGR
- -
Sector benchmark
Bottom 20% in IndustrialsTop 80% of 346This company $92.7M Sector average $689.0M
▼
-86.5% below sector average
Key checks
Key Insights
- 5-year CAGR of +4.5%, indicating consistent growth.
- In FY2025, working capital increased 4.8% year-over-year.
- Ranks #277 out of 346 companies in the Industrials sector.
- Peak working capital was recorded 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 | Working CapitalValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $92.7M | +4.8% |
| FY2024 | $88.5M | -19.5% |
| FY2023 | $109.9M | -18.5% |
| FY2022 | $134.9M | +14.2% |
| FY2021 | $118.1M | +59.0% |
| FY2020 | $74.3M | -25.1% |
| FY2019 | $99.2M | -21.5% |
| FY2018 | $126.4M | +24.5% |
| FY2017 | $101.5M | +74.0% |
| FY2016 | $58.3M | -9.4% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026