Forward Air Corporation (FWRD)

Gross profit margin

		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	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	1,159,187	1,152,948	1,251,303	1,370,335	1,414,025	1,409,079	1,334,522	1,251,631	1,165,398	1,188,496	1,145,198	1,055,939	1,018,933	1,050,096	880,933	757,431	626,012	601,069	582,464	566,682
Revenue (ttm)	US$ in thousands	1,571,371	1,711,459	1,809,146	1,923,575	1,965,894	1,946,041	1,856,214	1,761,536	1,655,923	1,547,601	1,460,946	1,323,276	1,269,573	1,238,888	1,220,574	1,241,783	1,215,187	1,252,092	1,269,784	1,297,240
Gross profit margin		73.77%	67.37%	69.17%	71.24%	71.93%	72.41%	71.89%	71.05%	70.38%	76.80%	78.39%	79.80%	80.26%	84.76%	72.17%	61.00%	51.52%	48.01%	45.87%	43.68%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,159,187K ÷ $1,571,371K
= 73.77%

Forward Air Corporation's gross profit margin has shown some fluctuations over the past few quarters. In the most recent quarter, the gross profit margin was 73.77%, indicating that the company retained approximately 73.77% of its revenue after accounting for the cost of goods sold. This percentage is higher compared to the previous quarter's margin of 67.37%.

Looking at the trend over the past year, there has been some variability in the gross profit margin, with percentages ranging from a low of 48.01% in the first quarter of 2020 to a high of 84.76% in the third quarter of 2020.

Overall, the trend suggests that the company has generally maintained a healthy gross profit margin, which is indicative of effective cost management and pricing strategies. However, the fluctuations in the margin indicate the need for further analysis to understand the factors driving these changes and to ensure sustainable profitability in the long term.