Forward Air Corporation (FWRD)
Activity ratios
Short-term
Turnover ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | — | — | 1,386.51 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 51.21 | 64.81 | 93.98 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 29.00 | 27.97 | 22.62 | 13.98 | 13.61 | 14.38 | 36.45 | 39.10 | 21.01 | 14.63 | 14.63 | 12.55 | 12.87 | 14.07 | 11.87 | 11.47 | 16.82 | 16.86 | 17.17 | 13.61 |
Inventory turnover for Forward Air Corporation has exhibited a decreasing trend, indicating the company is holding onto its inventory for longer periods. In contrast, its working capital turnover has shown fluctuations but generally depicts a positive trend, implying that the company is efficiently utilizing its working capital to generate revenue. Receivables turnover and payables turnover ratios are unavailable, making it challenging to assess the efficiency of the company in collecting receivables and managing payables. However, the working capital turnover ratio provides insights into how effectively the company is leveraging its working capital to support its operations and generate sales.
Average number of days
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | 0.26 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 7.13 | 5.63 | 3.88 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Based on the data provided, the activity ratios analysis for Forward Air Corporation is as follows:
1. Days of Inventory on Hand (DOH):
- The DOH for Forward Air Corporation has shown an increasing trend over the period from June 30, 2020, to September 30, 2024. The DOH increased from 3.88 days on June 30, 2020, to 0.26 days on September 30, 2024. This indicates that the company has been able to manage its inventory efficiently, reducing the number of days of inventory held on hand.
2. Days of Sales Outstanding (DSO):
- The data provided does not show any specific values for Days of Sales Outstanding for Forward Air Corporation. Without this information, it is not possible to determine the company's effectiveness in collecting accounts receivable within a certain period.
3. Number of Days of Payables:
- Similar to DSO, the data does not provide any specific values for the Number of Days of Payables for Forward Air Corporation. Without this information, it is challenging to assess the company's ability to pay its suppliers within a certain period.
In summary, based on the available data, Forward Air Corporation has effectively managed its inventory levels, as indicated by the decreasing trend in Days of Inventory on Hand metric. However, further information is needed to evaluate the company's accounts receivable collection efficiency and payment practices to suppliers.
Long-term
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | — | — | — | — | — | — | — | 6.98 | 7.64 | 7.92 | 5.16 | 4.85 | 4.68 | 4.53 | 4.58 | 4.37 | 4.17 | 6.88 | 7.03 | 7.03 |
| Total asset turnover | 0.92 | 0.88 | 0.71 | 0.63 | 0.43 | 0.52 | 1.45 | 1.54 | 1.58 | 1.63 | 1.65 | 1.56 | 1.51 | 1.49 | 1.45 | 1.35 | 1.31 | 1.25 | 1.28 | 1.27 |
The Fixed Asset Turnover ratio of Forward Air Corporation has shown some fluctuations over the years. It increased from 6.88 in December 31, 2020 to 7.92 in December 31, 2022, indicating improved efficiency in generating revenue from fixed assets. However, it declined slightly to 6.98 in June 30, 2023. There is missing data for the periods after September 30, 2023.
In terms of Total Asset Turnover, the company's performance also fluctuated. It generally increased from 1.25 in December 31, 2020 to 1.65 in September 30, 2022, showing an upward trend in the utilization of total assets to generate sales. However, it dropped significantly to 0.52 in December 31, 2023, and improved to 0.92 in March 31, 2025.
Overall, the trend suggests that Forward Air Corporation has been efficient in utilizing both fixed assets and total assets to generate sales, but there have been some fluctuations which may need to be further investigated to ensure sustained efficiency in the long term.