Forward Air Corporation FWRD
- Market cap
- $498.3M
- P/E
- 0.0×
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Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 36.00 | 45.86 | 51.00 | 53.16 | 39.59 | 70.93 | 84.04 | 60.09 | 11.21 | 9.79 |
Analyst estimates 2026–2028 Powerpack |
Low Price
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| 50.72 | 59.98 | 72.81 | 72.09 | 78.95 | 123.36 | 125.71 | 121.38 | 64.33 | 35.47 |
High Price
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| 4,688 | 4,898 | 5,369 | 5,480 | 3,774 | 4,327 | 4,427 | 4,251 | 6,319 | 6,062 |
Employees
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| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue/Emp
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| 1,030 | 1,169 | 1,138 | 1,215 | 1,270 | 1,387 | 1,680 | 1,371 | 2,474 | 2,495 |
Revenue
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| 53.99% | 51.97% | 48.97% | 50.30% | 47.79% | 50.84% | 54.91% | 55.63% | 48.59% | 49.32% |
Gross Margin
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| 58 | 108 | 115 | 110 | 69 | 143 | 242 | 57 | (1,250) | (147) |
EBT
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| 5.64% | 9.20% | 10.15% | 9.03% | 5.46% | 10.29% | 14.43% | 4.13% | (50.51%) | (5.90%) |
EBT Margin
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| 28 | 87 | 89 | 82 | 53 | 107 | 179 | 43 | (1,125) | (142) |
Net Income
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| 81 | 41 | 36 | 36 | 37 | 35 | 43 | 57 | 1,172 | 153 |
Depreciation
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| 34.02 | 39.15 | 39.13 | 43.10 | 45.95 | 51.09 | 62.71 | 52.90 | 89.84 | 81.23 |
Revenue/Sh
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| 0.91 | 2.90 | 3.14 | 3.06 | 0.84 | 3.87 | 7.17 | 6.42 | (29.66) | (3.51) |
Earnings/Sh
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| 4.30 | 3.46 | 4.90 | 5.16 | 3.48 | 4.44 | 9.34 | 7.69 | (2.51) | 1.44 |
Cash Flow/Sh
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| (1.33) | (1.20) | (1.12) | (0.69) | (0.65) | (1.32) | (1.38) | (1.04) | (1.16) | (0.88) |
Capex/Sh
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| 2.98 | 2.26 | 3.78 | 4.48 | 2.83 | 3.13 | 7.96 | 6.65 | (3.67) | 0.57 |
Free CF/Sh
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| 16.48 | 17.84 | 19.03 | 20.47 | 19.81 | 21.86 | 26.41 | 29.49 | 10.38 | 5.26 |
Book Value/Sh
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| 30 | 30 | 29 | 28 | 28 | 27 | 27 | 26 | 28 | 31 |
Shares
|
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| 53.22 | 19.85 | 17.47 | 22.86 | 91.48 | 31.29 | 14.60 | 9.68 | 0.00 | 0.00 |
PE Ratio
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| 1.42 | 1.48 | 1.40 | 1.62 | 1.67 | 2.37 | 1.67 | 1.18 | 0.36 | 0.31 |
PS Ratio
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| 2.94 | 3.24 | 2.88 | 3.42 | 3.88 | 5.54 | 3.96 | 2.11 | 3.11 | 4.75 |
PB Ratio
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| 1.44 | 1.53 | 1.42 | 1.67 | 1.77 | 2.50 | 1.75 | 2.39 | 1.01 | 0.96 |
EV/Sales
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| 16.50 | 26.50 | 14.72 | 16.10 | 28.69 | 40.88 | 13.77 | 19.05 | (24.83) | 136.68 |
EV/FCF
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| 130 | 103 | 142 | 146 | 96 | 121 | 250 | 199 | (69) | 44 |
Op' Cash Flow
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| (40) | (36) | (33) | (19) | (18) | (36) | (37) | (27) | (32) | (27) |
Capex
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| 90 | 68 | 110 | 126 | 78 | 85 | 213 | 172 | (101) | 17 |
FCF
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| 58 | 101 | 126 | 99 | 74 | 118 | 135 | 110 | 88 | 93 |
Working Cap'
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| 28 | 41 | 47 | 109 | 162 | 219 | 179 | 1,817 | 1,707 | 1,710 |
Total Debt
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| 20 | 37 | 22 | 45 | 122 | 182 | 133 | 1,656 | 1,602 | 1,604 |
Net Debt
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| 499 | 533 | 553 | 577 | 547 | 594 | 707 | 764 | 286 | 162 |
Sh' Equity
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| 4.07% | 12.98% | 12.67% | 9.95% | 2.33% | 9.78% | 16.52% | 7.99% | (28.26%) | (3.90%) |
ROA
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| 7.19% | 11.94% | 12.74% | 11.30% | 6.90% | 11.85% | 18.41% | 2.28% | (35.20%) | 1.29% |
ROIC
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| 5.41% | 16.78% | 16.95% | 15.41% | 4.22% | 18.56% | 29.54% | 22.75% | (155.59%) | (48.17%) |
ROE
|
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Forward Air Corporation (FWRD) key facts
- Forward Air Corporation (FWRD) is an Integrated Freight & Logistics company in the Industrials sector, listed on Nasdaq.
- Forward Air Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 0.84% from fiscal 2024.
- As of September 25, 2026, FWRD traded at $14.69, a market capitalization of $498.3 million.
- Forward Air Corporation pays an annual dividend of $0.96 per share, a yield of 2.25%, with a payout ratio of 17.0%.
- Return on equity was −48.2% and debt-to-equity -13.94.
Forward Air Corporation (FWRD) Latest News
11 Sep
Forward Air posts record revenue but the results carry major caveats that undermine their strength and raise questions about sustainability and underlying performance issues. Record revenue flagged with serious caveats signals potential fundamental weakness that can sharply alter investor views and future results.
22 Aug
Forward Air Corporation stock fair value rises after analysts back updated customer contract. Analyst endorsement of revised contract raises Forward Air fair value with moderate effect on market perception.
6 Aug
Forward Air Corp posted record Q2 2026 revenue during its earnings call along with multiple strategic wins that strengthen operational positioning. Record revenue combined with strategic wins signals major positive shifts in financial results and competitive standing.
5 Aug
Forward Air sells two business units and posts a $201M operating loss. Divestiture of two units plus $201M operating loss signals major restructuring likely to reshape operations and investor view.
Forward Air Corporation held its Q2 earnings call, covering financial results, operational performance, and management commentary on business outlook. Q2 earnings details and outlook comments can moderately shift near-term investor sentiment and valuation views.
Forward Air shows Q2 operational improvement. Q2 progress signals moderate potential gains in Forward Air performance.
Forward Air Corporation reported its second quarter 2026 financial results. Quarterly earnings release reveals performance metrics that may shift near-term investor views.
22 Jul
Forward Air retains at least half of a $250M major client account through a new deal. Retention of half a large client account stabilizes revenue but indicates partial loss with limited long-term trajectory shift.
Forward Air (FWRD) stock surges 22.8%, raising questions about potential for further gains. Stock surge of 22.8% signals short-term market momentum without evidence of lasting operational shifts.
21 Jul
Forward Air secures deal to retain at least 50% of $250M account. Retention of major account portion supports revenue stability for Forward Air.
10 Jul
Analysts cut Forward Air Corporation revenue expectations, moving the stock fair value lower. Revenue expectation cuts lower Forward Air stock fair value.
11 May
Forward Air Corporation (FWRD) narrowed its Q1 2026 loss despite lower sales, prompting a valuation assessment. Narrowed Q1 2026 loss amid declining sales moderately impacts financial performance and investor valuation views.
7 May
Forward Air Corporation released Q1 2026 earnings call summary highlighting financial results, operational updates, and forward guidance. Q1 2026 earnings call summary details financial performance and guidance that significantly shape investor expectations and stock trajectory.
Forward Air Corporation (FWRD) reported a Q1 net loss and revenue below analyst estimates. Q1 loss and revenue miss indicate deteriorating financial performance with potential to erode investor confidence and stock value.
Forward Air Corporation reported first quarter 2026 financial results. Quarterly earnings reports significantly influence FWRD's stock performance and future valuation based on revenue, profit, and guidance.
Forward Air Corporation's Q1 earnings call highlights financial results, operational performance, strategic updates, and forward guidance amid freight industry challenges. Q1 earnings call highlights affect financial performance and market sentiment moderately without fundamentally altering long-term trajectory.
5 May
Forward Air (FWRD) stock plunged 24.0% after a weak Q1 2026 outlook raised serious profitability concerns. Weak Q1 2026 outlook triggered 24% stock drop and profitability doubts, significantly impacting financial performance and investor sentiment.
7 Apr
Investors urged to avoid Forward Air Corporation (FWRD) stock due to weakening fundamentals, operational challenges, and poor growth prospects amid industry headwinds. Bearish analysis citing operational issues and weak outlook moderately pressures FWRD's market sentiment and short-term performance.
29 Mar
Post-merger with Omni Logistics, Forward Air Corporation faces severe operational disruptions, customer losses, and network breakdowns, prompting debate on whether issues stem from temporary dislocation or permanent structural impairment amid plunging stock value and leadership turmoil. Merger fallout disrupts core operations and erodes customer base, significantly threatening financial performance and competitive standing.
26 Mar
Forward Air (FWRD) emerges as an attractive investment due to robust earnings growth, strong balance sheet, undervaluation metrics, and favorable industry tailwinds positioning it for superior returns. Bullish investment thesis highlights key financial strengths likely to moderately enhance market sentiment and performance.
11 Mar
Sources say Forward Air sale unlikely as strategic review nears close. Strategic review concluding without likely sale alters major trajectory expectations and investor sentiment.
24 Feb
Forward Air Corporation released its Q4 2025 earnings call summary, detailing quarterly financial results, operational updates, and future outlook. Quarterly earnings summaries directly reveal financial health and guidance, significantly swaying stock performance and investor sentiment.
Forward Air Corp (FWRD) delivered resilient performance in Q4 2025 earnings call, navigating economic headwinds with strong results and forward-looking stability. Q4 2025 earnings highlights demonstrate resilient performance amid economic challenges, significantly impacting financial outlook and investor sentiment.
Forward Air Corporation named 2026 Surface Carrier of the Year by the Airforwarders Association. Industry award for 2026 Surface Carrier of the Year boosts Forward Air's reputation and competitive positioning.
23 Feb
Forward Air Corporation released Q4 earnings call highlights, detailing financial performance, operational updates, and forward guidance for the freight forwarding company. Q4 earnings call highlights disclose critical financial results and outlook that significantly influence investor sentiment and stock trajectory.
Forward Air Corporation reported fourth quarter and full year 2025 financial results. Quarterly and annual earnings reports typically drive significant stock price movements and shape investor expectations for future performance.
Forward Air Corporation (FWRD) reported a Q4 net loss but surpassed revenue estimates. Quarterly loss despite revenue beat affects financial performance with moderate influence on market sentiment.
11 Feb
Forward Air Corporation is facing challenges with its return trends, prompting the need for strategic changes to improve performance. The company is under pressure to enhance its operational efficiency and address market dynamics that may be affecting its profitability. Investors are keenly observing how management plans to navigate these issues to restore confidence in the company's future prospects. Operational challenges and the need for strategic changes could moderately influence financial performance and market sentiment.
9 Feb
Forward Air Corporation's stock has seen an improvement in its Relative Strength Rating, now at 74, indicating a stronger performance compared to other stocks in the market. This rating reflects the company's resilience and potential for growth amidst market fluctuations. The improvement in Relative Strength Rating suggests a moderately noticeable influence on Forward Air's market performance and investor sentiment.
12 Jan
Activist investor Ancora has taken a significant stake in Forward Air Corporation (FWRD), aiming to influence the company's strategic direction and enhance shareholder value. Ancora's involvement highlights a growing trend of activist investors targeting the transportation sector, seeking to drive operational improvements and financial performance. The firm has outlined specific changes it believes will benefit FWRD, potentially leading to a reevaluation of the company's business strategies and market positioning. Activist investor involvement is likely to lead to significant strategic changes that could alter Forward Air's trajectory and investor sentiment.