Forward Air Corporation (FWRD)

Net 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
Net income (ttm)	US$ in thousands	167,351	108,549	151,394	186,873	193,191	190,714	162,117	137,364	105,859	60,951	54,062	26,539	23,733	52,344	57,892	77,068	87,100	90,616	90,750	92,718
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
Net profit margin		10.65%	6.34%	8.37%	9.71%	9.83%	9.80%	8.73%	7.80%	6.39%	3.94%	3.70%	2.01%	1.87%	4.23%	4.74%	6.21%	7.17%	7.24%	7.15%	7.15%

December 31, 2023 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $167,351K ÷ $1,571,371K
= 10.65%

The net profit margin of Forward Air Corporation has shown a fluctuating trend over the past several quarters. In the most recent quarter ending December 31, 2023, the net profit margin was 10.65%, which represents a significant improvement compared to the previous quarters.

The company's net profit margin ranged from a low of 1.87% in March 2021 to a high of 10.65% in December 2023. This wide range indicates fluctuations in the company's profitability over time.

It is noteworthy that the net profit margin has generally improved since the first quarter of 2021, suggesting that the company has been able to enhance its efficiency in generating profits relative to its revenue. However, some quarters, such as in June 2021 and December 2022, saw slight decreases in the net profit margin before bouncing back in subsequent quarters.

Overall, the improving trend in the net profit margin indicates that Forward Air Corporation has been working on optimizing its profitability, although periodic fluctuations suggest the need for continued monitoring and management of expenses and revenue generation strategies.