Forward Air Balance Sheet Health
Financial Health criteria checks 2/6
Forward Air has a total shareholder equity of $764.3M and total debt of $1.8B, which brings its debt-to-equity ratio to 234.3%. Its total assets and total liabilities are $3.0B and $2.2B respectively. Forward Air's EBIT is $145.7M making its interest coverage ratio 4.6. It has cash and short-term investments of $122.0M.
Key information
234.3%
Debt to equity ratio
US$1.79b
Debt
Interest coverage ratio | 4.6x |
Cash | US$121.97m |
Equity | US$764.26m |
Total liabilities | US$2.22b |
Total assets | US$2.98b |
Recent financial health updates
Recent updates
Financial Position Analysis
Short Term Liabilities: FA2's short term assets ($347.0M) exceed its short term liabilities ($237.1M).
Long Term Liabilities: FA2's short term assets ($347.0M) do not cover its long term liabilities ($2.0B).
Debt to Equity History and Analysis
Debt Level: FA2's net debt to equity ratio (218.3%) is considered high.
Reducing Debt: FA2's debt to equity ratio has increased from 8.5% to 234.3% over the past 5 years.
Debt Coverage: FA2's debt is not well covered by operating cash flow (10.1%).
Interest Coverage: FA2's interest payments on its debt are well covered by EBIT (4.6x coverage).