| Benford Chart for FWRD 10K Filed 3/24/2025 | ||||||||||||||||||||||||||||||||||||
Total numbers found: 1,386 Recent share count: 28,954,411 (2's column) ■ = Typical range across full coverage universe | ||||||||||||||||||||||||||||||||||||
| # of Numbers Found in Filing | |||
|
On this page of Benford's Law Stocks.com we present our study of FORWARD AIR CORP — ticker symbol FWRD. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 5/1/2020 to 3/24/2025
for FORWARD AIR CORP under CIK number 0000912728.
For filings made in XBRL (eXtensible
Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL
filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format
found for each filing is presented below together with the results for FWRD, with the percentage of found numbers beginning with each digit
(1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as
well as the "normal" range for FORWARD AIR CORP based on the past FWRD filings our system processed in the past.
| Benford's Law Stocks Score for FWRD = 98 | ||
Starting from a possible score of 100, we made the following score deductions: • We deducted point upon observing the 1's percentage was above the typical coverage universe range. • We deducted point upon observing the 1's percentage was above the company's typical historical range. • The 9's percentage was higher than the 8's percentage, increasing the penalty multiplier. |
| FWRD's Score Vs. Typical Stock | |||
|
Check our work! We provide our FORWARD AIR CORP Benford's Law analysis for informational purposes only, and our software should be expected to
make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating
the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the FWRD filing
above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also
be helpful for exploring any columns in particular that caught your eye.
| 1's | 2's | 3's |
|---|---|---|
| We found 478 numbers that start with the digit 1. Here they are: 104,903 121,969 153,267 15,685 1,098 1,790,500 111,552 127,032 134,789 105,692 119,836 16,930 12,645 1,675,930 1,790,500 13,295 1,978,178 15,000 10,088 1,370,735 1,679,634 1,250,570 182,197 143,978 191,809 196,596 1,028,397 1,282,525 1,432,043 1,062,936 189,215 1,093 1,226 186,896 1,249,832 124,991 13,836 1,124,841 179,414 124,548 13,777 1,131,228 167,351 193,191 167,351 193,191 1.64 1.64 1,131,228 167,351 193,191 1,133,960 167,351 193,191 167,351 193,191 193,191 193,191 10 11,376 11,376 17 111 1 1 167,351 167,351 11 12,012 12,012 18 121 1 1 1,131,228 10,188 10,188 1,442 1,442 170 1,210 12 12 139 164 13,212 10 1,124,841 179,414 143,978 1,028,397 10,188 11,495 10,661 133,510 14,917 1,180 1,279 15,085 13,280 15,917 12,766 199,212 1,576,219 1,608,586 102,987 18,425 155,000 178,500 1,790,500 12,247 1,442 163,832 1,790,726 138,668 1,013 1,840,420 1,906,251 17,824 1,475 1,846,807 1,906,251 1,952,073 1,846,807 1,906,251 105,266 1,952,073 104,903 121,969 1,790,500 105,266 1,952,073 12,404 14,422 103,447 111,969 1,456 10,000 16,398 11,518 13,876 1,028,397 1,092,741 14,751 1,028,397 121,091 136,896 141,720 136,986 1,272,403 1,272,403 1,028,397 1,028,397 141,720 136,986 1,054,083 1,028,397 16,039 12,213 1,500 1 1,500 1,157,714 1,212,121 103,604 1,500 110,993 15,389 16,039 118,993 1,500 127,032 193,919 13,251 16,501 15,267 19,566 11,493 10,663 17,452 119,836 11,041 18,262 10,000 10,000 1,000 1,000 100 19,566 19,791 1,131,228 167,351 193,191 124,548 13,777 179,414 1,070 178,421 123,909 13,700 143 1.64 1.64 112 18 13 154 197 158,233 176,137 12,325 11,804 18,385 155,829 162,895 18,385 124,548 13,777 100,499 14,015 1,910 1,210 12,105 110.00 100,499 100,499 13,270 13,270 1,967 12,473 195,407 1,543,003 1,543,003 10,977 181,570 10,441 192,011 14,082 13,665 1,062,729 158,929 19,109 19,410 1,752,534 173,321 1,579,213 156,408 156,040 14,606 17,583 13,844 133,673 155,800 1,100,474 171,929 1,272,403 1,190,392 159,425 1,045,000 1,675,930 100,000 100.000 104.750 102.375 100.000 109.5 101.000 1,125,000 1.00 1.00 150,000 150,000 150,000 150,000 19,834 163,999 11,923 106.21 1,349 10,090 10,594 1,280 1.9 161 175 175 100.93 115.42 109.75 109.43 142 133 104.87 115 117 114.46 105.52 11.87 120.27 127.29 1.6 105.88 11.87 14 113 15.88 1,012 10 17.16 1.91 14 18 18.67 1,329 1,387 1,424 1,436 198 18,444 178 12,026 113,588 19,922 1,369 133,510 124,991 13,836 11,894 19,538 1,561 10,189 16 1,743 156 1,190 1,435 107 1,019 1,477 124,991 13,836 12,006 1,318 13,953 129 1 12,617 14 10,807 1,391 103,745 13,240 13,574 198 153 153 13,295 111,552 149,567 16,930 12,645 155,323 122,854 14,623 13,672 11,102 1,395 120,844 19,414 102,130 15,772 11,305 184 16,930 114,574 1,395 18,323 11,074 153,009 12,404 10,000 10,000 1,000 1,000 100 1,952 13,295 13,295 1,044,938 1,196,841 164 1,115,163 1,196,841 164 19,764 18,440 139 12,297 10,251 1,582 101,206 1,028,397 1,044,803 18,925 105,009 1,062,936 189,215 1,093 1,226 1,249,832 1,096,810 1,370,735 148 118 1,096,958 1,371,001 1,370,735 19,991 10,320 1,519 10,884 11,121 116,311 1,259,936 1,679,634 185 1,260,121 1,679,839 1,679,839 1,679,634 105,656 1 15,393 101 10,962 15,993 111,359 1,853 192,583 1,866 170,455 159,513 1,115,163 1,096,958 1,260,121 1,726,088 127,861 1,137 1.23 18 1.24 1.23 18 1.24 17,127 14,721 116,465 19,951 101,744 1.28 11 11 1.37 1.27 11 11 1.37 1,124 1,082 1,499 1,124 1,630 1,082 1,707 162 1,499 1,526 1,630 | We found 233 numbers that start with the digit 2. Here they are: 2,206 205 29,053 25,682 292,855 250,185 258,095 278,706 212,905 2,802,641 2,979,533 237,094 26,736 2,132,727 29,761,197 25,670,663 298 257 283,684 2,732 201,728 285,868 2,802,641 2,979,533 2,474,262 287,566 21,460 22,004 26,956 247,591 242,453 23 23 2,732 26,969 270 258,474 206 206 25,882 25,865 26,462 265 270,855 25,013 24,995 25,671 257 283,684 2,732 2,732 205,510 2 2 25 2,009 20 2 29,104 29,761 298 2,732 285,868 294 2,588 250,161 2,372 206 24,995 25,865 240,572 258,525 240,701 25,217 26,517 26,479 24,386 292,855 250,185 258,095 2,909 2,558 257,987 20,629 20,629 278,706 244,006 25,686 218,669 226,575 253,914 261,821 23,400 23,100 29,807 24,600 212,905 23,021 23,021 26,712 26,552 220 27,540 25,913 26,783 27,540 26,003 26,926 23 23 280 2 260,916 273,873 293,769 2,586 2,281 266,807 275,384 207,880 21,570 2,313,653 2,274,240 234,025 247,690 23,400 23,100 2,977 234,025 247,869 22,127 2,556,262 2,659,431 25 20,629 2.75 225,000 25,000 250,000 23,474 23,111 24 28.91 28.7 280 280 269 200 2,518 259 20 26 23.58 22 22,729 2,625 262,466 202 29,658 2,297 23,827 28,559 23,744 20,842 21 213 2,257 2,131 2,131 2,991 2,762 26,736 22,051 2,991 20,194 29,884 25,217 25.0 2,001 232,319 2,474,262 232,832 2,545,000 2,474,262 242,411 215,518 21,599 22,511 273,925 266 274,043 266 226,528 25,685 25,327 20 205 205 233,876 27,058 247,591 242,453 221,979 257,323 270,421 2,047,901 2,802,641 2,979,533 27,082 2.81 23.29 2.62 2.81 23.47 2.66 2.81 23.29 2.62 2.81 23.47 2.66 2,464 2,824 2,795 25 25 2,608 2,615 2,601 21 2,601 23 23 | We found 162 numbers that start with the digit 3. Here they are: 30,402,883 363 39,604 3,269 322,291 347,028 326,188 384,046 30,858 325,640 38,169 338,230 302,759 309,508 3,537,198 31,571 31,571 314,259 30.40 30.63 30.40 30.63 314,259 334,910 3 31 3,330 3,330 314,259 338,230 3,635 30,555 30,683 36,661 3,741 37,060 30,725 39,254 3,330 37,316 363 39,604 363 39,604 364,412 320,557 31,063 326,188 3,377 336,600 35,200 35,200 31,009 31,190 34,721 314,259 30.40 30.63 30.40 30.63 305 36,842 34,490 38,347 34 3.50 32,795 30,828 3,403 359,493 337,923 39,413 35,639 3,084 32,555 368 38,021 35,200 3.50 3.25 3.75 3.25 340,000 340,000 300,000 30,000 30,000 300,000 3,370 39.75 32.5 3.8 370 33 33 30.66 382 38.78 30.66 37.8 35.5 39 33.34 339 3,507 360 3,625 36 30 34 36,179 395 33,373 39 37,420 38,169 38,757 395 38,499 394 38,015 325,640 30,858 30,805 3,383 325,640 30,858 3.4 3,384 3,260 38,926 39,381 3,149 37,414 38,294 39,733 31,571 34 31,950 33,924 34,198 35,378 374 325,914 38,073 36,416 30,300 357,709 333,622 340,976 338,428 33,904 36,368 36 3.93 36 3.93 3,635 395 3,635 396 395 |
| 4's | 5's | 6's |
|---|---|---|
| We found 116 numbers that start with the digit 4. Here they are: 472,500 410,084 45,430 45,148 44,344 48,835 47,144 42,200 480,320 42,552 47,478 42,803 4.78 4.77 436,124 40 4,340 4,340 480,320 4 411,611 43 44 42,296 42,803 42,552 444 49,000 4,340 45,822 45,822 45,822 45,822 47,456 45 46 4,235 45,148 42,091 46,808 42,803 42,583 4.78 4.77 439 45,211 4,834 4,608 42,509 42,510 40,003 40.000 400,000 4.50 4.25 4.25 4.50 4.75 400,000 450,000 481 48.70 4,088 42.8 4.7 4.2 416 4,660 44 488 43,327 4,285 4,716 42,081 47 4,995 42 4,728 4,047 42,897 42,200 434,689 409,080 440,756 410,084 44,363 454,447 44,344 469,868 434,689 428,385 4,509 4,154 422,080 47,788 4,524 46,606 47,788 41,858 43,716 419,698 419,718 4,523 4,468 4,876 44,900 4.51 4.51 4,099 4,063 4,648 4,253 4,232 46 4,625 4,648 | We found 113 numbers that start with the digit 5. Here they are: 527,386,885 5,408 522,712 58,863 5,000,000 50,699,707 542,392 586,195 536,406 57,405 50,133 5,138 5,138 56,639 51 51 593,654 542,392 57,405 5,091 5,408 5,137 56,703 52,471 508,280 522,712 5,889 5,735 54,313 5,946 5,816 5,000 5,000 5,000 5,000 5,000 5,000 500 51 51 57 5 51,304 5,212 57,490 56,713 53,310 559 539,355 577,376 56,567 55,829 56,567 56,567 54,067 50 5.50 5.25 5.00 5.50 5.75 5.50 525,000 5,355 5,000 5,000 504 58.40 59.89 58.54 58.54 55,353 50,915 537 57,614 565 5,877 5,457 54,604 5,457 590,286 506,167 53,885 501,789 51,942 5.8 5.5 54,462 5,000 5,000 5,000 5,000 5,000 5,000 500 513 546,458 58,714 511,254 5,621 57,530 53,428 56,639 53,339 56,874 5,138 59 541,813 58 58 5,091 5,639 5,091 | We found 91 numbers that start with the digit 6. Here they are: 62,948 64,682 63,039 6,387 6.66 6.42 6.63 6.40 600 6 62,765 62,771 617,128 6,426 69,015 66,105 6,108 62,771 6,387 68,459 619,043 6,406 6,407 650 6,539 6,712 62,948 65,112 66,374 6,387 639 6,387 6.66 6.42 6.63 6.40 67 6,387 627 67,283 643 6.00 6.75 6.50 6.25 6.00 64.26 67.02 67.02 61 61 69.81 6,268 6,317 63,039 65,772 63,039 634 61,940 61,545 65,388 66 66 64,976 6.4 6.0 63,398 699 67,951 66,925 61,728 624,994 691,369 661,270 643,666 655,937 632,846 664 61,712 645,433 65,500 6,493 66 65 654 6,671 6,035 6,426 6,322 6,426 6,484 |
| 7's | 8's | 9's |
|---|---|---|
| We found 81 numbers that start with the digit 7. Here they are: 71,941 71,727 71,598 764,261 764,261 730,412 7.17 7.14 783 783 707,244 764,261 700 7 753 753 7,686 75,000 70,000 753 783 7,508 7,454 7,361 79,095 76,732 74,926 71,727 77 7.17 7.14 72 7,066 7,670 78,260 75,292 738 738 725,000 725,000 75,000 706 76.83 76.06 77.08 75.05 72 77.08 75.68 71.15 7,833 7.76 76 78 71.79 7,686 77,236 72,508 7,262 74,217 71,598 78,133 758 79,709 70,225 70,738 70,738 701,035 73,814 74,941 73,406 73,408 76 76 72,113 72,508 76,212 75,777 7,777 7,858 7,777 | We found 54 numbers that start with the digit 8. Here they are: 84,140 87,413 85,290 88,210 816,969 819,701 800 800 883 816,969 8 84,140 8,893 8,097 83,687 800 8,506 8,929 8,506 8,506 85,873 89,096 85,199 85,873 837,134 859 837,134 80 83.5 81,467 89,374 84 80,000 883 8 855 88.01 8 82.48 84 8,519 8,893 840 894 82 81,821 83,542 8,578 86,153 88,210 83,385 854,138 845,949 88,794 | We found 58 numbers that start with the digit 9. Here they are: 999,216 96,440 96 96 9 93,802 93,811 9,546 9,677 9,500 91 93,811 95,801 94,277 90 90 92,412 90,557 903,800 950,300 9,899 993 90 903,800 9.5 9.5 98.0 96.0 9,152 93,811 9,120 9,196 9,120 9,902 9 90 9,246 9,243 92.89 90 9.17 96.10 984 9,318 90,747 96,440 96,440 96,500 9,733 99,638 94,545 9,087 947,817 90,570 91,496 90,325 966,471 9,288 |
While the above FWRD 10K Filed 3/24/2025 is interesting in isolation, we have found that it is also useful to take a look at older
FORWARD AIR CORP filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a
Benford's Law analysis. Below we repeat the 10K Filed 3/24/2025 but instead of the chart comparing against the typical company across
our coverage universe, below we show the same chart compared against the typical FWRD 10Q and 10K filings that we have processed
historically. This is followed by similar charts for each of those historical filings.
| 10K Filed 3/24/2025 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 1,386 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 5/15/2024 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 599 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 8/4/2023 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 630 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 11/9/2022 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 783 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10K Filed 3/1/2022 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 1,307 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 5/3/2021 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 559 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 7/31/2020 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 961 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 11/8/2024 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 824 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10K Filed 3/15/2024 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 1,304 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 5/10/2023 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 460 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 8/9/2022 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 744 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 11/8/2021 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 871 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10K Filed 2/26/2021 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 1,475 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 5/1/2020 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 560 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 8/9/2024 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 770 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 11/9/2023 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 692 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10K Filed 3/1/2023 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 1,156 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 5/9/2022 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 530 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 8/9/2021 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 813 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||
| 10Q Filed 10/30/2020 | ||||||||||||||||||||||||||||||||||||
XBRL? ✓ [ original filing ] Total numbers found: 1,017 ■ = Typical FWRD range from 5/1/2020 to 3/24/2025 | ||||||||||||||||||||||||||||||||||||