Forward Air Corporation (FWRD)

Net profit margin

		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
Net income (ttm)	US$ in thousands	-791,673	-816,969	-834,501	-751,805	-86,421	11,659	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
Revenue (ttm)	US$ in thousands	2,565,295	2,474,262	2,179,844	1,937,272	1,695,788	1,581,041	1,723,813	1,820,471	1,933,508	1,973,403	1,952,132	1,861,734	1,767,186	1,662,427	1,552,839	1,465,211	1,326,218	1,306,525	1,337,688	1,367,354
Net profit margin		-30.86%	-33.02%	-38.28%	-38.81%	-5.10%	0.74%	6.30%	8.32%	9.66%	9.79%	9.77%	8.71%	7.77%	6.37%	3.93%	3.69%	2.00%	1.82%	3.91%	4.23%

March 31, 2025 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $-791,673K ÷ $2,565,295K
= -30.86%

The net profit margin of Forward Air Corporation has exhibited significant fluctuations over the past few years. Starting from June 30, 2020, where the net profit margin was at 4.23%, the margin declined to 1.82% by December 31, 2020. Subsequently, there was a gradual improvement in profitability, with the margin reaching a peak of 9.79% by December 31, 2022.

However, starting from March 31, 2023, there was a notable decline in the net profit margin, dropping to -38.81% by June 30, 2024. This negative trend continued, with the margin remaining in negative territory, recording -30.86% as of March 31, 2025.

Overall, the net profit margin of Forward Air Corporation has been volatile, indicating periods of both growth and financial distress. Investors and analysts may need to further investigate the reasons behind these fluctuations to assess the company's financial health and sustainability.