Flagship explainer

What drives FORWARD AIR CORP’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity−68%Tax burden73%net income ÷ pretax incomeInterest burden−404%pretax ÷ operating incomeOperating margin1%operating income ÷ revenueAsset turnover0.90×revenue ÷ average assetsEquity multiplier17.52×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$108MFY2025
Income before tax−$147MFY2025
Operating income$36.4MFY2025
$2.5BFY2025
Ending assets$2.7BFY2025
Beginning assets$2.8BFY2024
$113MFY2025
$202MFY2024
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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