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Forward Air Corporation (FWRD)

NASDAQ: FWRD · USD

$17.5

+2.37 (+15.7%)· Recorded snapshot

Market cap	591.5M
Revenue (ttm)	2.5B
Net income (ttm)	-286.2M
EPS (ttm)	-$9.06
Shares out	33.8M
P/E (forward)	130.0x
Volume	511,849
Beta	1.41

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 2.5B
Net income (ttm): -286.2M
EPS (ttm): -$9.06
P/E (forward): 130.0x
Market cap: 591.5M

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	احتفاظ
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	احتفاظ
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	احتفاظ

Metric	Value
Amount currency	USD
CIK code	0000912728
Company name	Forward Air Corporation
Country	United States
Country code	US
CUSIP number	34986A104
Earnings date	2026-11-09
Earnings time	amc
Employees	6,356
Employees change	-230
Employees growth	-3.49%
Enterprise value	$2.6B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1981
In index	RUSSELL2000
Industry	Integrated Freight & Logistics
IPO date	1993-11-16
Is primary listing	Yes
Is SPAC	No
ISIN number	US34986A1043
Last 10-K release date	2026-03-11
Last earnings date	2026-08-05
Last refreshed	2026-10-28
Last stock split date	2005-04-04
Last stock split type	Forward
Market cap	$591.5M
Market cap category	Small-Cap
Next earnings date	2026-11-09
Options	Yes
Price	$17.51
Price currency	USD
Sector	Industrials
SIC code	4731
Stock price date	2026-10-28
Symbol	FWRD
U.S. state	Texas
Website	https://www.forwardair.com

Metric

Value

Amount currency

USD

CIK code

0000912728

Company name

Forward Air Corporation

Country

United States

Country code

CUSIP number

34986A104

Earnings date

2026-11-09

Earnings time

amc

Employees

6,356

Employees change

-230

Employees growth

-3.49%

Enterprise value

$2.6B

Exchange

NASDAQ

Financial currency

USD

Financial report date

2026-06-30

First seen

2026-05-09

Fiscal year end

December

Founded

1981

In index

RUSSELL2000

Industry

Integrated Freight & Logistics

IPO date

1993-11-16

Is primary listing

Yes

Is SPAC

ISIN number

US34986A1043

Last 10-K release date

2026-03-11

Last earnings date

2026-08-05

Last refreshed

2026-10-28

Last stock split date

2005-04-04

Last stock split type

Forward

Market cap

$591.5M

Market cap category

Small-Cap

Next earnings date

2026-11-09

Options

Yes

Price

$17.51

Price currency

USD

Sector

Industrials

SIC code

4731

Stock price date

2026-10-28

Symbol

FWRD

U.S. state

Texas

Website

https://www.forwardair.com

Metric	Value
Adjusted P/E ratio	14.45x
Average P/E ratio (10Y)	28.2x
Earnings yield	-51.76%
EV/EBIT	20.04x
EV/EBITDA	9x
EV/FCF	52.58x
EV/Sales	1.01x
FCF / EV yield	1.9%
FCF yield	8.54%
Forward EV/Sales	0.97x
Forward P/E	130x
Forward P/S	0.22x
Industry forward P/E	15.56x
Industry P/E	20.08x
P/(FCF - SBC) ratio	14.7x
P/(OCF - SBC) ratio	9.25x
P/FCF ratio	11.71x
P/OCF ratio	7.97x
P/S ratio	0.22x
Price/EBITDA ratio	2x
Sector forward P/E	26.03x
Sector P/E	40.37x

Metric

Value

Adjusted P/E ratio

14.45x

Average P/E ratio (10Y)

28.2x

Earnings yield

-51.76%

EV/EBIT

20.04x

EV/EBITDA

EV/FCF

52.58x

EV/Sales

1.01x

FCF / EV yield

1.9%

FCF yield

8.54%

Forward EV/Sales

0.97x

Forward P/E

130x

Forward P/S

0.22x

Industry forward P/E

15.56x

Industry P/E

20.08x

P/(FCF - SBC) ratio

14.7x

P/(OCF - SBC) ratio

9.25x

P/FCF ratio

11.71x

P/OCF ratio

7.97x

P/S ratio

0.22x

Price/EBITDA ratio

Sector forward P/E

26.03x

Sector P/E

40.37x

Metric	Value
EBIT margin	5.02%
EBITDA margin	11.19%
FCF margin	1.91%
Gross margin	21.49%
Operating margin	5.02%
Pretax margin	-13.94%
Profit margin	-11.37%
Profit per employee	$-45,028
Revenue per employee	$396,173
ROA	3.06%
ROA (5Y)	5.49%
ROCE	6.42%
ROE	-735.72%
ROE (5Y)	-45.09%
ROIC	6.17%
ROIC (5Y)	8.68%
SBC / revenue	0.39%
Tax / revenue	-0.27%

Metric

Value

EBIT margin

5.02%

EBITDA margin

11.19%

FCF margin

1.91%

Gross margin

21.49%

Operating margin

5.02%

Pretax margin

-13.94%

Profit margin

-11.37%

Profit per employee

$-45,028

Revenue per employee

$396,173

ROA

3.06%

ROA (5Y)

5.49%

ROCE

6.42%

ROE

-735.72%

ROE (5Y)

-45.09%

ROIC

6.17%

ROIC (5Y)

8.68%

SBC / revenue

0.39%

Tax / revenue

-0.27%

Metric	Value
EPS growth years	1
FCF growth	643.84%
FCF growth 3Y	-41.3%
FCF growth 5Y	0.28%
Gross profit growth	9.61%
Gross profit growth (Q)	30.31%
Gross profit growth 3Y	5.96%
Gross profit growth 5Y	10.87%
Net income growth years	1
OCF growth	73.65%
OCF growth 10Y	-5.77%
OCF growth 3Y	-36.44%
OCF growth 5Y	2.65%
Operating income growth	86.01%
Operating income growth (Q)	118.7%
Operating income growth 3Y	-12.45%
Operating income growth 5Y	1.63%
Revenue growth	-0.11%
Revenue growth (Q)	8.76%
Revenue growth (QoQ)	15.63%
Revenue growth 10Y	9.99%
Revenue growth 3Y	21.94%
Revenue growth 5Y	11.44%
Revenue growth quarters	1
Revenue growth years	2

Metric

Value

EPS growth years

FCF growth

643.84%

FCF growth 3Y

-41.3%

FCF growth 5Y

0.28%

Gross profit growth

9.61%

Gross profit growth (Q)

30.31%

Gross profit growth 3Y

5.96%

Gross profit growth 5Y

10.87%

Net income growth years

OCF growth

73.65%

OCF growth 10Y

-5.77%

OCF growth 3Y

-36.44%

OCF growth 5Y

2.65%

Operating income growth

86.01%

Operating income growth (Q)

118.7%

Operating income growth 3Y

-12.45%

Operating income growth 5Y

1.63%

Revenue growth

-0.11%

Revenue growth (Q)

8.76%

Revenue growth (QoQ)

15.63%

Revenue growth 10Y

9.99%

Revenue growth 3Y

21.94%

Revenue growth 5Y

11.44%

Revenue growth quarters

Revenue growth years

Metric	Value
Capital expenditures	$-22.6M
Depreciation and amortization	$155.3M
EBIT	$126.5M
EBITDA	$281.8M
EPS	$-9.06
FCF per share	$1.43
Financing cash flow	$-16M
Free cash flow	$48.2M
Free cash flow minus SBC	$38.4M
Gross profit	$541.1M
Income taxes	$-6.7M
Investing cash flow	$-10.7M
Net borrowing	$-16.3M
Net cash flow	$44.1M
Net income	$-286.2M
Operating cash flow minus SBC	$61M
Operating income	$126.5M
Revenue	$2.5B
Stock-based compensation	$9.8M

Metric

Value

Capital expenditures

$-22.6M

Depreciation and amortization

$155.3M

EBIT

$126.5M

EBITDA

$281.8M

EPS

$-9.06

FCF per share

$1.43

Financing cash flow

$-16M

Free cash flow

$48.2M

Free cash flow minus SBC

$38.4M

Gross profit

$541.1M

Income taxes

$-6.7M

Investing cash flow

$-10.7M

Net borrowing

$-16.3M

Net cash flow

$44.1M

Net income

$-286.2M

Operating cash flow minus SBC

$61M

Operating income

$126.5M

Revenue

$2.5B

Stock-based compensation

$9.8M

Metric	Value
Altman Z-Score	1.05
Book value per share	$-3.42
Debt / EBITDA	2.48
Debt / FCF	43.76
Goodwill	$278.7M
Interest coverage	0.71
Long-term assets	$1.8B
Long-term liabilities	$2.1B
Net cash (debt)	$-2B
Net cash / market cap	-348.98%
Net debt / EBITDA	6.99
Net debt / FCF	40.87
Piotroski F-Score	6
Property, plant and equipment	$636.1M
Shareholders' equity	$-122.7M
Tangible book value	$-1.3B
Tangible book value per share	$-37.20
Total assets	$2.4B
Total cash	$139.4M
Total debt	$2.1B
Total liabilities	$2.5B
WACC	7.77%

Metric

Value

Altman Z-Score

1.05

Book value per share

$-3.42

Debt / EBITDA

2.48

Debt / FCF

43.76

Goodwill

$278.7M

Interest coverage

0.71

Long-term assets

$1.8B

Long-term liabilities

$2.1B

Net cash (debt)

$-2B

Net cash / market cap

-348.98%

Net debt / EBITDA

6.99

Net debt / FCF

40.87

Piotroski F-Score

Property, plant and equipment

$636.1M

Shareholders' equity

$-122.7M

Tangible book value

$-1.3B

Tangible book value per share

$-37.20

Total assets

$2.4B

Total cash

$139.4M

Total debt

$2.1B

Total liabilities

$2.5B

WACC

7.77%

Metric	Value
Asset turnover	0.97
Current assets	$583.1M
Current liabilities	$441.6M
Current ratio	1.32
Net working capital	$124.6M
Quick ratio	1.17
Working capital	$141.5M
Working capital turnover	22.95

Metric

Value

Asset turnover

0.97

Current assets

$583.1M

Current liabilities

$441.6M

Current ratio

1.32

Net working capital

$124.6M

Quick ratio

1.17

Working capital

$141.5M

Working capital turnover

22.95

Metric	Value
Buyback yield / dilution	-7.26%
Dividend growth (10Y)	9.15%
Dividend growth (3Y)	8.58%
Dividend growth (5Y)	8.79%
Dividend per share	$0.00
Dividend yield	0%
Last dividend	$0.24
Shareholder yield	-7.26%

Metric

Value

Buyback yield / dilution

-7.26%

Dividend growth (10Y)

9.15%

Dividend growth (3Y)

8.58%

Dividend growth (5Y)

8.79%

Dividend per share

$0.00

Dividend yield

Last dividend

$0.24

Shareholder yield

-7.26%

Metric	Value
10Y price change	-57.24%
10Y return CAGR	-7.4%
10Y total return	-53.66%
150-day SMA	$15.43
15Y price change	-48.28%
15Y return CAGR	-3.46%
15Y total return	-41.02%
1D price change	15.65%
1M price change	18.65%
1M total return	18.65%
1W price change	13.85%
1W total return	13.85%
1Y price change	-11.88%
1Y return CAGR	-11.89%
1Y total return	-11.88%
20-day SMA	$15.59
200-day SMA	$17.75
20Y price change	-46.79%
20Y return CAGR	-2.21%
20Y total return	-36.09%
3M price change	18.41%
3M total return	18.41%
3Y price change	-75.23%
3Y return CAGR	-37.11%
3Y total return	-75.14%
50-day SMA	$16.05
50-day SMA vs 200-day SMA	50under200
52-week high	$31.18
52-week high date	2026-02-10
52-week low	$7.86
52-week low date	2026-05-19
5Y price change	-81.21%
5Y return CAGR	-28.09%
5Y total return	-80.76%
6M price change	-23.72%
6M total return	-23.72%
All-time high	$125.71
All-time high date	2022-01-04
All-time low	$1.44
All-time low date	1996-10-24
Average true range (ATR)	$0.84
Average volume	356.5K
Beta (1Y)	1.96
Beta (2Y)	2.26
Beta (5Y)	1.41
Change from 52-week high	-43.83%
Change from 52-week low	122.92%
Change from all-time high	-86.13%
Change from all-time low	1,107.06%
Change from open	7.16%
Day's gap	7.93%
Dollar volume	$9M
High price	$17.57
Low price	$16.15
Monthly RSI	42.07
Open price	$16.34
Position in 52-week range	95.77%
Premarket change	6.54%
Premarket close	$15.14
Premarket price	$16.13
Premarket volume	5.8K
Previous close	$15.14
Price vs 150-day SMA	12.94%
Price vs 20-day SMA	11.8%
Price vs 200-day SMA	-1.81%
Price vs 50-day SMA	8.62%
Relative volume	1.44
RSI	64.5
Sharpe ratio	0.28
Sharpe ratio (3Y)	-0.26
Sharpe ratio (5Y)	-0.21
Sortino ratio	0.42
Sortino ratio (3Y)	-0.3
Sortino ratio (5Y)	-0.2
Volume	511.8K
Weekly RSI	51.94
YTD price change	-30.28%
YTD total return	-30.28%

Metric

Value

10Y price change

-57.24%

10Y return CAGR

-7.4%

10Y total return

-53.66%

150-day SMA

$15.43

15Y price change

-48.28%

15Y return CAGR

-3.46%

15Y total return

-41.02%

1D price change

15.65%

1M price change

18.65%

1M total return

18.65%

1W price change

13.85%

1W total return

13.85%

1Y price change

-11.88%

1Y return CAGR

-11.89%

1Y total return

-11.88%

20-day SMA

$15.59

200-day SMA

$17.75

20Y price change

-46.79%

20Y return CAGR

-2.21%

20Y total return

-36.09%

3M price change

18.41%

3M total return

18.41%

3Y price change

-75.23%

3Y return CAGR

-37.11%

3Y total return

-75.14%

50-day SMA

$16.05

50-day SMA vs 200-day SMA

50under200

52-week high

$31.18

52-week high date

2026-02-10

52-week low

$7.86

52-week low date

2026-05-19

5Y price change

-81.21%

5Y return CAGR

-28.09%

5Y total return

-80.76%

6M price change

-23.72%

6M total return

-23.72%

All-time high

$125.71

All-time high date

2022-01-04

All-time low

$1.44

All-time low date

1996-10-24

Average true range (ATR)

$0.84

Average volume

356.5K

Beta (1Y)

1.96

Beta (2Y)

2.26

Beta (5Y)

1.41

Change from 52-week high

-43.83%

Change from 52-week low

122.92%

Change from all-time high

-86.13%

Change from all-time low

1,107.06%

Change from open

7.16%

Day's gap

7.93%

Dollar volume

$9M

High price

$17.57

Low price

$16.15

Monthly RSI

42.07

Open price

$16.34

Position in 52-week range

95.77%

Premarket change

6.54%

Premarket close

$15.14

Premarket price

$16.13

Premarket volume

5.8K

Previous close

$15.14

Price vs 150-day SMA

12.94%

Price vs 20-day SMA

11.8%

Price vs 200-day SMA

-1.81%

Price vs 50-day SMA

8.62%

Relative volume

1.44

RSI

64.5

Sharpe ratio

0.28

Sharpe ratio (3Y)

-0.26

Sharpe ratio (5Y)

-0.21

Sortino ratio

0.42

Sortino ratio (3Y)

-0.3

Sortino ratio (5Y)

-0.2

Volume

511.8K

Weekly RSI

51.94

YTD price change

-30.28%

YTD total return

-30.28%

Metric	Value
Float	27.3M
Float percentage	80.84%
Shares change (QoQ)	3.19%
Shares change (YoY)	7.26%
Shares held by insiders	2.16%
Shares held by institutions	77.44%
Shares outstanding	33.8M
Short % of float	7.76%
Short % of shares	6.27%
Short ratio	3.6 days

Metric

Value

Float

27.3M

Float percentage

80.84%

Shares change (QoQ)

3.19%

Shares change (YoY)

7.26%

Shares held by insiders

2.16%

Shares held by institutions

77.44%

Shares outstanding

33.8M

Short % of float

7.76%

Short % of shares

6.27%

Short ratio

3.6 days

Forward Air Corporation (FWRD)

Price

Financial snapshot

Fair-value bridge

Latest news · FWRD

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All FWRD indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on FWRD

Frequently asked questions