Forward Air Corporation (FWRD)

Cash ratio

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
Cash and cash equivalents US$ in thousands 104,903 104,903 136,616 104,655 172,270 161,573 18,843 18,281 32,028 45,822 46,846 47,386 61,630 37,316 51,930 50,844 24,396 40,254 42,990 80,916
Short-term investments US$ in thousands — — — — — — — — — — — — — — — — — — — —
Total current liabilities US$ in thousands 384,046 384,046 448,698 420,013 444,841 237,094 190,441 169,226 165,770 169,398 179,559 167,460 187,944 164,692 158,466 169,271 169,133 172,052 157,133 146,852
Cash ratio 0.27 0.27 0.30 0.25 0.39 0.68 0.10 0.11 0.19 0.27 0.26 0.28 0.33 0.23 0.33 0.30 0.14 0.23 0.27 0.55

March 31, 2025 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($104,903K + $—K) ÷ $384,046K
= 0.27

The cash ratio of Forward Air Corporation has fluctuated over the reporting periods, ranging from 0.10 to 0.68. This ratio measures the company's ability to cover its short-term liabilities using its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations without relying on external sources of funding.

The trend in the cash ratio shows some variability, with peaks and troughs in different quarters. Notably, the ratio significantly increased in December 2023, indicating a temporary boost in the company's liquid assets relative to its current liabilities. However, it dropped sharply in the subsequent quarter.

Overall, the cash ratio has exhibited some volatility, suggesting fluctuations in the company's liquidity position over the analyzed periods. It would be important for investors and analysts to monitor this ratio closely to assess Forward Air Corporation's ability to meet its short-term financial obligations effectively.