Forward Air Corporation (FWRD)

Quick 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	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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	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
Quick 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

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

The quick ratio of Forward Air Corporation has shown fluctuations over the reported periods, ranging from a low of 0.10 to a high of 0.68. A quick ratio below 1.0 typically indicates potential liquidity concerns as it suggests that the company may not have enough liquid assets to cover its current liabilities.

During the most recent period, as of March 31, 2025, the quick ratio stood at 0.27, indicating that for every dollar of current liabilities, Forward Air Corporation had $0.27 of liquid assets readily available to meet those obligations. This suggests that the company may be facing some liquidity challenges, as its quick assets may not be sufficient to cover its short-term liabilities comfortably.

It is important for investors and stakeholders to monitor the trend of the quick ratio over time to assess the company's ability to manage its short-term financial obligations effectively. A decreasing trend in the quick ratio may raise concerns about the company's liquidity position and could warrant further investigation into its financial health and operational efficiency.