FWRD Forward AIR (FWRD) Insider Trading, Ownership & Congress Trades
Transport · Arrangement of transportation of freight & cargo · CIK 0000912728
SEC filings
Insider buyers, 180 days
0
House members buying, 1 year
0
STOCK Act, US House only, disclosed up to 45 days after the trade
Funds added, last quarter
115
13F, latest reported quarter
Forward AIR insider trades (Form 4)
Form 4 buys and sells (codes P and S). Grants, option exercises
and conversions excluded.
No insider purchases or sales are on record for FORWARD AIR CORP in the period covered. Source: SEC Form 4 filings, as of 2026-10-28.
Insider
Filed
Shares
Value
Since filing
Context
- 8 earlier Form 4 trades (code P or S) here by this insider (2 buys, 6 sales), the last on Nov 11, 2025.
- The trade is 0.3% of the 3,116,546 shares held after it.
- No other insider sold within 30 days.
- 115 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Insider Cetus Capital VI, L.P. sold about $223.8K of FWRD on Nov 12, 2025; 115 funds added in the latest 13F quarter.Context
- 7 earlier Form 4 trades (code P or S) here by this insider (2 buys, 5 sales), the last on Nov 10, 2025.
- The trade is 2.1% of the 3,126,546 shares held after it.
- No other insider sold within 30 days.
- 115 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Insider Cetus Capital VI, L.P. sold about $1.5M of FWRD on Nov 11, 2025; 115 funds added in the latest 13F quarter.Context
- 5 earlier Form 4 trades (code P or S) here by this insider (2 buys, 3 sales), the last on Nov 6, 2025.
- The trade is 0.9% of the 3,193,709 shares held after it.
- No other insider sold within 30 days.
- 115 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Insider Cetus Capital VI, L.P. sold about $679.8K of FWRD on Nov 10, 2025; 115 funds added in the latest 13F quarter.Context
- 5 earlier Form 4 trades (code P or S) here by this insider (2 buys, 3 sales), the last on Nov 6, 2025.
- The trade is 2.8% of the 3,223,709 shares held after it.
- No other insider sold within 30 days.
- 115 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Insider Cetus Capital VI, L.P. sold about $1.9M of FWRD on Nov 10, 2025, the largest insider sale at the company on our record; 115 funds added in the latest 13F quarter.Context
- 3 earlier Form 4 trades (code P or S) here by this insider (2 buys, 1 sale), the last on Oct 20, 2025.
- The trade is 0.0% of the 3,313,709 shares held after it.
- No other insider sold within 30 days.
- 115 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Insider Cetus Capital VI, L.P. sold about $6.4K of FWRD on Nov 6, 2025; 115 funds added in the latest 13F quarter.36 transactions on record
Since filing: total return from the first close after the filing to the latest close, dividend-adjusted. Not a forecast.
Context lines are counts over the filings above and returns from our own price history, never a price level. Not investment advice.
Seven facts, ranked against the sector ·
Rank is not a forecast
Insiders
no insider buys or sells on file
Congress
no House purchase disclosed in the last 12 months
Funds
115 funds bought in last quarter
more than 57% of Transport
Revenue
+0.8% year over year
below 54% of Transport
Margin
-4.3% net margin
below 76% of Transport
Buybacks
no share repurchases reported
Short interest
7.8% of the float short (float per yahoo 2026-10-26) · 3.7 days to cover · settled 2026-09-30
more than 78% of Transport
What changed in the last 30 days
Nothing new filed in the last 30 days
Watch FWRD
A free account keeps a watchlist and can send one email a day when insiders, funds or Congress file on the names in it. No password and no card.
The year, with the filings on it
Total return over 12 months. Each marker is a filing; hover or tap one for the detail.
-20.5%12M
Insider sell
Indexed to 100, dividend-adjusted, not a price chart.
When a name files heavily, the largest trades are drawn first.
Who owns FWRD: institutional holders (13F)
13F holdings, latest reported quarter
3,825,000 sh
$51.7M
2,774,600 sh
$37.5M
2,008,264 sh
$27.1M
1,404,913 sh
$19.0M
1,169,316 sh
$15.8M
Congress trades in FWRD
No Congress trades reported
No House member has disclosed a trade in this stock. See what Congress is buying.
Activist and 5% holders (13D/13G)
No 5%+ ownership filings
Nobody has filed for crossing 5%. That is a fact, not missing data.
FWRD planned insider sales (Form 144)
No planned-sale notices
No insider has filed to sell. Watch this after a run-up.
FWRD mutual fund holders (N-PORT)
Funds ranked by the share of their own portfolio in this stock (N-PORT).
NAA SMALL CAP VALUE SERIES
$183.7K position · as of 2026-06-30
0.4%
Fidelity Value Fund
$20.1M position · as of 2026-07-31
0.2%
Fidelity Advisor Value Fund
$748.7K position · as of 2026-07-31
0.2%
VIP Value Strategies Portfolio
$2.0M position · as of 2026-06-30
0.2%
NAA SMID-CAP VALUE SERIES
$223.8K position · as of 2026-06-30
0.2%
NAA SMID CAP VALUE FUND
$445.0K position · as of 2026-06-30
0.1%
SEC N-PORT, monthly, about 60 days late · funds ≥ $10M ·
% is the share of the fund's own portfolio
Live price
Daily candles from TradingView, under their licence. No filings marked.
Why this name is on the desk
The complete filing record, in one place.
The record shows 115 funds added last quarter. Each figure is a federal filing, dated the day it went public.
FWRD financials
Revenue growth
+0.8%
XBRL, annual
Net margin
-4.3%
Ratios from the company's XBRL filings, latest filings
Revenue, TTM
$2.5B
four quarters, 2025-07-01 to 2026-06-30
Revenue, TTM FWRD
| FY Dec 2025 | $2.5B |
| FY Dec 2024 | $2.5B |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | $1.7B |
| Jun 2026 | $673.0M |
| Mar 2026 | $582.0M |
| Dec 2025 | $631.2M |
| Sep 2025 | $631.8M |
| Jun 2025 | $618.8M |
| Mar 2025 | $613.3M |
| Dec 2024 | $632.8M |
| Sep 2024 | $655.9M |
At each fiscal year end
Single quarter
Net margin, TTM
-11.2%
net income over revenue, 2025-07-01 to 2026-06-30
Net margin, TTM FWRD
| FY Dec 2025 | -4.2% |
| FY Dec 2024 | -33.0% |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | +6.4% |
| Jun 2026 | -30.8% |
| Mar 2026 | -5.9% |
| Dec 2025 | -3.9% |
| Sep 2025 | -2.6% |
| Jun 2025 | -2.0% |
| Mar 2025 | -8.3% |
| Dec 2024 | -5.8% |
| Sep 2024 | -11.2% |
At each fiscal year end
Single quarter
Free cash flow, TTM
n/a
fewer than four consecutive quarters of operating cash flow
Free cash flow, TTM FWRD
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | $108.3M |
| Jun 2026 | -$8.1M |
| Mar 2026 | $38.8M |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | -$18.0M |
| Mar 2025 | $15.7M |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Single quarter
Debt to equity
n/a
equity is zero or negative, the ratio has no meaning
Debt to equity FWRD
| FY Dec 2025 | 14.99x |
| FY Dec 2024 | 8.36x |
| FY Dec 2023 | 0.00x |
| FY Dec 2022 | 0.15x |
| FY Dec 2021 | 0.26x |
| Jun 2026 | n/a |
| Mar 2026 | 21.01x |
| Dec 2025 | 14.99x |
| Sep 2025 | 12.13x |
| Jun 2025 | 11.15x |
| Mar 2025 | 10.93x |
| Dec 2024 | 8.36x |
| Sep 2024 | 7.45x |
At each fiscal year end
Trailing four quarters at each quarter end
Cash flow to debt
n/a
needs four quarters of operating cash flow
Cash flow to debt FWRD
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | 0.93x |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Return on equity
-1,553%
TTM net income over average of 2025-06-30 and 2026-06-30
Return on equity FWRD
| FY Dec 2025 | -66.0% |
| FY Dec 2024 | -169.1% |
| FY Dec 2023 | +22.7% |
| FY Dec 2022 | +29.7% |
| FY Dec 2021 | +18.6% |
| Jun 2026 | -1,553% |
| Mar 2026 | -74.4% |
| Dec 2025 | -66.0% |
| Sep 2025 | -63.3% |
| Jun 2025 | -79.5% |
| Mar 2025 | -149.1% |
| Dec 2024 | -169.1% |
| Sep 2024 | -152.2% |
At each fiscal year end
Trailing four quarters at each quarter end
Return on assets
-10.9%
TTM net income over average of 2025-06-30 and 2026-06-30
Return on assets FWRD
| FY Dec 2025 | -3.8% |
| FY Dec 2024 | -28.3% |
| FY Dec 2023 | +8.0% |
| FY Dec 2022 | +16.6% |
| FY Dec 2021 | +9.8% |
| Jun 2026 | -10.9% |
| Mar 2026 | -3.2% |
| Dec 2025 | -3.8% |
| Sep 2025 | -4.0% |
| Jun 2025 | -5.9% |
| Mar 2025 | -23.8% |
| Dec 2024 | -28.3% |
| Sep 2024 | -32.0% |
At each fiscal year end
Trailing four quarters at each quarter end
Return on invested capital
n/a
pre-tax loss, no effective tax rate to apply
Return on invested capital FWRD
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | +10.2% |
| FY Dec 2022 | +25.6% |
| FY Dec 2021 | +16.0% |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Return on capital employed
-7.8%
operating income (EBIT proxy) over average of 2025-06-30 and 2026-06-30 minus current liabilities
Return on capital employed FWRD
| FY Dec 2025 | +1.5% |
| FY Dec 2024 | -41.2% |
| FY Dec 2023 | +4.7% |
| FY Dec 2022 | +24.9% |
| FY Dec 2021 | +16.1% |
| Jun 2026 | -7.8% |
| Mar 2026 | +2.3% |
| Dec 2025 | +1.5% |
| Sep 2025 | +4.7% |
| Jun 2025 | +4.9% |
| Mar 2025 | -33.8% |
| Dec 2024 | -41.2% |
| Sep 2024 | -63.0% |
At each fiscal year end
Trailing four quarters at each quarter end
P/E, trailing
n/a
trailing loss, a multiple of a loss is not meaningful
P/E, trailing FWRD
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | 9.79x |
| FY Dec 2022 | 14.69x |
| FY Dec 2021 | 31.45x |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Enterprise value
$2.1B
market value at close 2026-10-26 on 2026-07-29 shares, plus long-term 2026-06-30 plus current 2024-03-31 (27 months older than the period end), minus cash 2026-06-30
Enterprise value FWRD
| FY Dec 2025 | $2.4B |
| FY Dec 2024 | $2.5B |
| FY Dec 2023 | $1.5B |
| FY Dec 2022 | $2.9B |
| FY Dec 2021 | $3.4B |
| Jun 2026 | $2.0B |
| Mar 2026 | $2.1B |
| Dec 2025 | $2.4B |
| Sep 2025 | $2.3B |
| Jun 2025 | $2.3B |
| Mar 2025 | $2.2B |
| Dec 2024 | $2.5B |
| Sep 2024 | $2.5B |
At each fiscal year end
Trailing four quarters at each quarter end
FCF yield
n/a
fewer than four consecutive quarters of operating cash flow
FCF yield FWRD
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | n/a |
| FY Dec 2021 | +3.3% |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
PEG, trailing
n/a
trailing loss, a multiple of a loss is not meaningful
PEG, trailing FWRD
| FY Dec 2025 | n/a |
| FY Dec 2024 | n/a |
| FY Dec 2023 | n/a |
| FY Dec 2022 | 0.17x |
| FY Dec 2021 | 0.09x |
| Jun 2026 | n/a |
| Mar 2026 | n/a |
| Dec 2025 | n/a |
| Sep 2025 | n/a |
| Jun 2025 | n/a |
| Mar 2025 | n/a |
| Dec 2024 | n/a |
| Sep 2024 | n/a |
At each fiscal year end
Trailing four quarters at each quarter end
Price as of 2026-10-26. Hover or tap a tile for its yearly and quarterly history.
Method
TTM is four consecutive fiscal quarters; Q4 is the year minus nine months when not filed. Returns use the average of opening and closing balances. EBIT is approximated by operating income. PEG uses trailing EPS growth.
Fundamentals
Annual figures from XBRL filings. Pick a past date to see them as known then.
| 2025-12 | 2024-12 | 2023-12 | 2022-12 | |
|---|---|---|---|---|
| Revenue | $2.5B | $2.5B | $1.4B | $2.0B |
| Operating income | $36.4M | -$1.1B | $88.2M | $247.6M |
| Net income | -$104.0M | -$820.0M | $167.0M | $193.0M |
| EPS (diluted) | -3.51 | -30.63 | 6.40 | 7.14 |
| Cash | $106.0M | $104.9M | $122.0M | $45.8M |
| Long-term debt | $1.7B | $1.7B | $0 | $106.6M |
| Buybacks | $0 | $0 | $93.8M | $62.8M |
| Dividends paid | $0 | $0 | $25.0M | $25.9M |
SEC XBRL, fiscal years, as known on 2026-10-28
FWRD Stock Sonar score 4/7 axes
Find similar shapesCompareFWRD ranks highest on institutional and government (57th percentile) and growth (46th), and lowest on profitability (12th), among Transport peers.
4 of 7 axes scored. Each is a percentile against sector peers (all companies when the sector is thin); higher is better. An unscored axis is unmeasured, not low. How it is scored
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