Is Forward Air Corporation (FWRD) halal? Not Halal. Based on AAOIFI screening, Forward Air Corporation passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Forward Air Corporation logo

FWRD — Is Forward Air Corporation Halal?

Not Halal

Forward Air Corporation

NASDAQIndustrialsUS

$10.20

-2.49%

About Forward Air Corporation

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. This segment also offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Intermodal segment provides intermodal container drayage services; and contract, and container freight station warehouse and handling services. It serves freight forwarders, third-party logistics companies, integrated air cargo carriers and passenger, passenger and cargo airlines, steamship lines, and retailers. Forward Air Corporation was founded in 1981 and is headquartered in Greeneville, Tennessee.

Sector: Industrials · Industry: Integrated Freight & Logistics

Shariah Compliance Status

Based on AAOIFI screening standards

F

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Passed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Financial Ratio Screen

Failed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap523.1% / 30.0%

Compliance History

Not Halal — unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 3, 2026Fiscal: 2026-2026-Q1Source: FMP

Financial Overview

Market Cap

322.6M

Price

$10.20

Sector

Industrials

Industry

Integrated Freight & Logistics

Halal Alternatives in Industrials

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

Old Dominion Freight Line, Inc.
ODFLA+

Old Dominion Freight Line, Inc.

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-0.83%

HEICO Corporation
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HEICO Corporation

$332.14

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AAON, Inc.
AAONA+

AAON, Inc.

$135.49

+2.86%

Kforce Inc.
KFRCA+

Kforce Inc.

$41.65

-4.18%

Etoiles Capital Group Co., Ltd. Class A Ordinary Shares
EFTYA+

Etoiles Capital Group Co., Ltd. Class A Ordinary Shares

$15.02

+0.00%

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Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.