FORWARD AIR CORPORATION (FWRD) Spending and interest coverage
- R&D / revenue · 12 months: Value (m); Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 0.39%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | (m) | Research and development expense / revenue. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Stock-based compensation / revenue · 12 months | 0.39% | Share-based compensation / revenue. Period ending 2026-06-30. $9.79M ÷ $2.52B × 100 ≈ 0.39% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | (m) | |
| Revenue | 2.52B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 9.79M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | -168.73M USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | (m) | $2.52B | $9.79M | $-168.73M | (m) | (m) | 0.39% | (m) | (m) |
| 2026-03-31 | (m) | $2.46B | $14.01M | $52.10M | (m) | (m) | 0.57% | (m) | (m) |
| 2025-12-31 | (m) | $2.50B | $13.43M | $36.42M | (m) | (m) | 0.54% | (m) | (m) |
| 2025-09-30 | (m) | $2.50B | $13.15M | $115.15M | (m) | (m) | 0.53% | (m) | (m) |
| 2025-06-30 | (m) | $2.52B | $12.67M | $122.84M | (m) | (m) | 0.50% | (m) | (m) |
| 2025-03-31 | (m) | $2.55B | $11.58M | $-992.44M | (m) | (m) | 0.45% | (m) | (m) |
| 2024-12-31 | (m) | $2.47B | $10.19M | $-1.06B | (m) | (m) | 0.41% | (m) | (m) |
| 2024-09-30 | (m) | $2.18B | $11.01M | $-1.14B | (m) | (m) | 0.51% | (m) | (m) |
| 2024-06-30 | (m) | $1.86B | $10.89M | $-1.15B | (m) | (m) | 0.58% | (m) | (m) |
| 2024-03-31 | (m) | $1.55B | $10.16M | $-24.72M | $69.97M | (m) | 0.65% | -0.35× | Reported |
| 2023-12-31 | (m) | $1.37B | $11.49M | $88.21M | $31.57M | (m) | 0.84% | 2.79× | Reported |
| 2023-09-30 | (m) | $1.72B | $11.98M | $157.63M | (m) | (m) | 0.70% | (m) | (m) |
| 2023-06-30 | (m) | $1.82B | $11.62M | $213.80M | (m) | (m) | 0.64% | (m) | (m) |
| 2023-03-31 | (m) | $1.93B | $11.76M | $259.13M | (m) | (m) | 0.61% | (m) | (m) |
| 2022-12-31 | (m) | $1.97B | $11.38M | $265.98M | (m) | (m) | 0.58% | (m) | (m) |
| 2022-09-30 | (m) | $1.95B | $11.48M | $256.54M | (m) | (m) | 0.59% | (m) | (m) |
| 2022-06-30 | (m) | $1.86B | $11.40M | $227.35M | (m) | (m) | 0.61% | (m) | (m) |
| 2022-03-31 | (m) | $1.77B | $11.08M | $193.93M | (m) | (m) | 0.63% | (m) | (m) |
| 2021-12-31 | (m) | $1.66B | $10.91M | $159.30M | (m) | (m) | 0.66% | (m) | (m) |
| 2021-09-30 | (m) | $1.55B | $11.36M | $128.05M | $4.67M | (m) | 0.73% | 27.44× | Reported |
| 2021-06-30 | (m) | $1.47B | $11.10M | $109.08M | $5.00M | (m) | 0.76% | 21.83× | Reported |
| 2021-03-31 | (m) | $1.33B | $10.55M | $80.88M | $4.87M | (m) | 0.80% | 16.60× | Reported |
| 2020-12-31 | (m) | $1.27B | $11.03M | $73.92M | $4.56M | (m) | 0.87% | 16.21× | Reported |
| 2020-09-30 | (m) | $1.43B | $11.22M | $90.06M | $4.15M | (m) | 0.78% | 21.71× | Reported |
| 2020-06-30 | (m) | $1.42B | $11.50M | $95.74M | $3.61M | (m) | 0.81% | 26.55× | Reported |
| 2020-03-31 | (m) | $1.43B | $12.13M | $105.79M | $2.99M | (m) | 0.85% | 35.39× | Reported |
| 2019-12-31 | (m) | $1.41B | $11.91M | $118.82M | $2.71M | (m) | 0.84% | 43.83× | Reported |
| 2019-09-30 | (m) | $1.39B | $12.03M | $121.02M | $2.37M | (m) | 0.87% | 51.02× | Reported |
| 2019-06-30 | (m) | $1.36B | $12.12M | $120.21M | $2.08M | (m) | 0.89% | 57.65× | Reported |
| 2019-03-31 | (m) | $1.34B | $11.34M | $122.53M | $1.99M | (m) | 0.85% | 61.67× | Reported |
| 2018-12-31 | (m) | $1.32B | $10.55M | $122.03M | $1.78M | (m) | 0.80% | 68.44× | Reported |
| 2018-09-30 | (m) | $1.22B | $9.66M | $114.74M | $1.73M | (m) | 0.79% | 66.32× | Reported |
| 2018-06-30 | (m) | $1.19B | (m) | $112.04M | $1.54M | (m) | (m) | 72.52× | Reported |
| 2018-03-31 | (m) | (m) | (m) | $109.16M | $1.30M | (m) | (m) | 84.10× | Reported |
| 2017-12-31 | (m) | $1.10B | $8.10M | $108.67M | $1.21M | (m) | 0.74% | 89.89× | Reported |
| 2017-09-30 | (m) | $1.06B | (m) | $108.12M | $1.17M | (m) | (m) | 92.17× | Reported |
| 2017-06-30 | (m) | $1.03B | (m) | $105.92M | $1.10M | (m) | (m) | 96.29× | Reported |
| 2017-03-31 | (m) | (m) | $8.34M | $61.76M | $1.33M | (m) | (m) | 46.58× | Reported |
| 2016-12-31 | (m) | $982.53M | $8.33M | $59.98M | $1.60M | (m) | 0.85% | 37.56× | Reported |
| 2016-09-30 | (m) | $974.16M | $8.13M | $60.77M | $1.79M | (m) | 0.83% | 33.99× | Reported |
| 2016-06-30 | (m) | $971.70M | $7.92M | $60.67M | $2.13M | (m) | 0.82% | 28.51× | Reported |
| 2016-03-31 | (m) | $982.76M | $7.65M | $94.93M | $2.24M | (m) | 0.78% | 42.45× | Reported |
| 2015-12-31 | (m) | $959.13M | $7.49M | $81.77M | $2.05M | (m) | 0.78% | 39.95× | Reported |
| 2015-09-30 | (m) | $916.77M | $7.24M | $78.39M | $1.74M | (m) | 0.79% | 44.95× | Reported |
| 2015-06-30 | (m) | $871.15M | $7.03M | $80.70M | $1.36M | (m) | 0.81% | 59.29× | Reported |
| 2015-03-31 | (m) | $815.31M | $6.82M | $88.38M | $892.00K | (m) | 0.84% | 99.09× | Reported |
| 2014-12-31 | (m) | $780.96M | $6.68M | $96.41M | $610.00K | (m) | 0.86% | 158.04× | Reported |
| 2014-09-30 | (m) | $747.98M | $6.56M | $93.97M | $486.00K | (m) | 0.88% | 193.36× | Reported |
| 2014-06-30 | (m) | $716.54M | $6.41M | $89.93M | $459.00K | (m) | 0.89% | 195.92× | Reported |
| 2014-03-31 | (m) | $682.49M | $6.27M | $84.84M | $486.00K | (m) | 0.92% | 174.56× | Reported |
| 2013-12-31 | (m) | $652.48M | $6.18M | $84.36M | $532.00K | (m) | 0.95% | 158.56× | Reported |
| 2013-09-30 | (m) | $626.92M | $6.12M | $85.19M | $551.00K | (m) | 0.98% | 154.60× | Reported |
| 2013-06-30 | (m) | $600.40M | $6.02M | $81.95M | $517.00K | (m) | 1.00% | 158.52× | Reported |
| 2013-03-31 | (m) | $588.92M | $6.00M | $82.53M | $468.00K | (m) | 1.02% | 176.35× | Reported |
| 2012-12-31 | (m) | $584.45M | $6.05M | $83.53M | $391.00K | (m) | 1.04% | 213.64× | Reported |
| 2012-09-30 | (m) | $577.18M | $6.06M | $83.13M | $392.00K | (m) | 1.05% | 212.06× | Reported |
| 2012-06-30 | (m) | $569.41M | $6.14M | $83.82M | $413.00K | (m) | 1.08% | 202.95× | Reported |
| 2012-03-31 | (m) | $553.28M | $6.13M | $80.61M | $475.00K | (m) | 1.11% | 169.71× | Reported |
| 2011-12-31 | (m) | $536.40M | $5.97M | $77.11M | $619.00K | (m) | 1.11% | 124.57× | Reported |
| 2011-09-30 | (m) | $521.45M | $5.85M | $72.16M | $641.00K | (m) | 1.12% | 112.57× | Reported |
| 2011-06-30 | (m) | $507.23M | $5.86M | $67.34M | $760.00K | (m) | 1.15% | 88.61× | Reported |
| 2011-03-31 | (m) | $497.16M | $5.96M | $60.97M | $720.00K | (m) | 1.20% | 84.68× | Reported |
| 2010-12-31 | (m) | $483.94M | $6.28M | $53.74M | $730.00K | (m) | 1.30% | 73.62× | Reported |
| 2010-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-12-31 | (m) | $417.41M | $6.75M | $18.55M | $670.00K | (m) | 1.62% | 27.69× | Reported |
| 2009-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-12-31 | (m) | $474.44M | $6.27M | $70.28M | $1.24M | (m) | 1.32% | 56.86× | Reported |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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