Forward Air Corporation (FWRD)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	2,474,260	1,370,740	1,973,400	1,662,430	1,269,570
Property, plant and equipment	US$ in thousands	—	—	249,080	367,293	189,867
Fixed asset turnover		—	—	7.92	4.53	6.69

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,474,260K ÷ $—K
= —

The fixed asset turnover ratio for Forward Air Corporation has shown fluctuations over the years. In 2020, the ratio was 6.69, indicating that the company generated $6.69 in revenue for every dollar invested in fixed assets. By 2021, the ratio decreased to 4.53, suggesting a decline in asset utilization efficiency. However, there was a significant improvement in 2022, with the ratio reaching 7.92, indicating a more effective utilization of fixed assets to generate revenue. Unfortunately, data for the years 2023 and 2024 are not available, making it challenging to assess the trend further. Overall, fluctuations in the fixed asset turnover ratio reflect changes in the company's ability to generate revenue from its fixed assets efficiently.