FWRD: Is Forward Air Corporation Halal?
Forward Air Corporation
$16.63
Price as of Sep 13, 2026
Market Cap: 525.9M
Compliance Status
Not Halal
Screened on Sep 13, 2026 · AAOIFI Standard 21
Non-Compliant
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).
Quote this verdict
HalalScreener rates Forward Air Corporation (FWRD) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Sep 13, 2026. Source: https://halalscreener.app/en/stock/FWRD
Business activity
What the company sells is permissible.
Company debt
Over the limitHow much the company borrows, compared to its total value. AAOIFI allows up to 30%.
The verdict above is final and free.
Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.
Screened according to AAOIFI Standard 21
What this means for you
Most scholars advise not holding FWRD
It does not pass AAOIFI Shariah screening.
See halal alternatives from the same sector further down this page
Get an email if FWRD's halal status changes
We re-screen Forward Air Corporation daily. If the verdict moves, you hear about it the same day.
Free. One click sets it up, and you can unsubscribe any time.
About Forward Air Corporation
Forward Air Corporation, including its various subsidiaries, functions as a streamlined transportation and logistics enterprise throughout the United States and Canada, operating with an asset-light model. The company's business is structured into two principal divisions: Expedited Freight and Intermodal. The Expedited Freight segment delivers time-sensitive regional, inter-regional, and national less-than-truckload (LTL) services, complemented by local collection and delivery capabilities. This comprehensive segment also extends to final-mile services, full truckload transport, cargo consolidation and deconsolidation, storage solutions, customs brokerage, and general freight handling. Furthermore, it encompasses expedited truckload brokerage, dedicated fleet operations, and specialized logistics for high-security or temperature-sensitive goods. The Intermodal segment primarily focuses on drayage services for intermodal containers. It also provides contract warehousing as well as container freight station (CFS) warehousing and related handling services. Forward Air caters to a diverse customer base, which includes freight forwarders, third-party logistics (3PL) providers, integrated air cargo companies, both passenger and cargo airlines, ocean carriers, and retailers. Founded in 1981, Forward Air Corporation is based in Greeneville, Tennessee.
Sector: Industrials · Industry: Integrated Freight & Logistics
Why this does not pass
- Interest-bearing debt is 322.0% of market cap, over the 30% AAOIFI limit.
Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.
Shariah Compliance Status
See which ratio caused the failure.
See the exact debt ratio, interest income %, and prohibited revenue that caused the failure. Know before you sell or hold.
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why FWRD is rated Not Halal with institutional-grade analysis
The verdict above is final and free.
Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.
Screened according to AAOIFI Standard 21
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.
Halal Alternatives in Industrials
This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:
More Industrials Stocks
Track FWRD and 8,200+ stocks with AI insights
Create your free account to unlock AI-powered compliance analysis, track your portfolio, calculate purification, and get unlimited AAOIFI screening.
Frequently Asked Questions
Is Forward Air Corporation (FWRD) halal to invest in?
Why did Forward Air Corporation get a F compliance rating?
What could change Forward Air Corporation's Shariah verdict?
How often is Forward Air Corporation re-screened for Shariah compliance?
Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.
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.