Forward Air Corporation (FWRD)

Return on assets (ROA)

		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
Total assets	US$ in thousands	2,979,530	1,190,580	1,184,570	1,226,570	1,208,080	1,186,060	1,197,140	1,166,810	1,117,820	1,070,510	1,081,840	1,015,900	1,047,390	1,048,210	1,072,500	1,066,240	990,878	980,633	936,557	885,577
ROA		5.62%	9.12%	12.78%	15.24%	15.99%	16.08%	13.54%	11.77%	9.47%	5.69%	5.00%	2.61%	2.27%	4.99%	5.40%	7.23%	8.79%	9.24%	9.69%	10.47%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $167,351K ÷ $2,979,530K
= 5.62%

The return on assets (ROA) of Forward Air Corporation has exhibited fluctuations over the period analyzed. The ROA ranged from a low of 2.27% in March 2021 to a high of 16.08% in September 2022. In general, the ROA trended upwards from 2019 to mid-2022 before experiencing a slight decline in the most recent quarters.

The company's ability to generate profit from its assets varied, with the ROA peaking around 16% in September 2022 but subsequently dropping to around 5-9% in the latest quarters. This suggests that the company may have experienced changes in asset utilization and profitability during this period.

Overall, the analysis of Forward Air Corporation's ROA indicates that the company has shown some variability in its ability to generate profits from its assets, highlighting the importance of monitoring performance across different time periods to assess the company's efficiency and profitability.