Forward Air Corporation
FWRD Industrials Integrated Freight & Logistics
Forward Air Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 0.84% from fiscal 2024. In the quarter to June 2026, revenue grew 8.76%, EPS fell 1,456.1%, free cash flow grew 59.4% and total debt fell 1.01%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Forward Air Corporation (FWRD) EV/Sales
As of 16 October 2026, Forward Air Corporation (FWRD) trades at a EV/Sales of 0.8×. Over the past ten years it has ranged from 0.7× (May 2026) to 2.6× (January 2022); the current reading is higher than 3% of that period. That is below the Integrated Freight & Logistics industry median of 1.1× and below the Industrials sector median of 1.9×.
EV/Sales, daily
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Annual newest first
| Period | EV/Sales | Change |
|---|---|---|
| FY2025 | 1.0× | (5.53%) |
| FY2024 | 1.0× | (57.67%) |
| FY2023 | 2.4× | 36.84% |
| FY2022 | 1.7× | (30.08%) |
| FY2021 | 2.5× | 41.43% |
| FY2020 | 1.8× | 5.78% |
| FY2019 | 1.7× | 17.65% |
| FY2018 | 1.4× | (7.13%) |
| FY2017 | 1.5× | 6.06% |
| FY2016 | 1.4× | 0.83% |
Quarterly newest first
| Period | EV/Sales | Change |
|---|---|---|
| Jun 2026 | 0.8× | (6.07%) |
| Mar 2026 | 0.9× | (10.50%) |
| Dec 2025 | 1.0× | 0.38% |
| Sep 2025 | 1.0× | 1.04% |
| 42 more quarters | Free account |
Against its own ten years
EV/Sales against peers
| Company | EV/Sales |
|---|---|
| FLX BingEx Limited compare | 0.0× |
| NCEW New Century Logistics (BVI) Limited compare | n/m |
| PSIG PS International Group Ltd. compare | n/m |
| PAL Proficient Auto Logistics, Inc. compare | 0.4× |
| RLGT Radiant Logistics, Inc. compare | 0.5× |
| HUBG Hub Group, Inc. compare | 0.5× |
| FWRD Forward Air Corporation | 0.8× |
| PBI Pitney Bowes Inc. compare | 2.2× |
| CYRX CryoPort, Inc. compare | 3.4× |
| Integrated Freight & Logistics industry median | 1.1× |
| Industrials sector median | 1.9× |
| Market median | 2.1× |
What EV/Sales is
EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ Revenue (TTM)