Forward Air Corporation (FWRD)

Inventory turnover

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020
Cost of revenue (ttm)	US$ in thousands	2,187,946	2,297,643	2,135,223	1,958,502	1,626,095	1,329,954	1,337,224	1,332,489	1,387,405	1,426,582	1,431,380	1,391,586	1,356,071	1,297,101	1,234,322	1,179,224	1,080,683	1,075,411	1,096,861	1,115,685
Inventory	US$ in thousands	—	—	1,540	—	0	—	0	—	-0	0	0	0	—	—	—	0	0	21,002	16,925	11,871
Inventory turnover		—	—	1,386.51	—	—	—	—	—	—	—	—	—	—	—	—	—	—	51.21	64.81	93.98

March 31, 2025 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,187,946K ÷ $—K
= —

The inventory turnover ratio for Forward Air Corporation has shown fluctuations over the specified period. Starting at a high of 93.98 on June 30, 2020, the ratio decreased to 64.81 on September 30, 2020, and further declined to 51.21 on December 31, 2020. Subsequently, there is a lack of data available for the periods up to June 30, 2022.

The inventory turnover ratio is a measure of how efficiently a company manages its inventory. A high turnover ratio indicates that inventory is moving quickly, which can be a positive sign. However, an excessively high turnover ratio, such as the significant spike to 1,386.51 on September 30, 2024, may indicate potential issues with inventory management or reporting accuracy.

It is important to note that without complete data for the intervening periods, it is challenging to provide a comprehensive analysis of how Forward Air Corporation's inventory turnover has evolved over time. Additional information and context would be necessary to fully evaluate the implications of the fluctuations in the inventory turnover ratio for the company's operations and financial performance.