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%	ถือ
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	ถือ
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	ถือ

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E130

P25 n/aP50 n/aP75 n/a

Trailing P/En/a

P25 n/aP50 n/aP75 n/a

ROE-735.7

P25 n/aP50 n/aP75 n/a

ROIC6.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All FWRD indicators

Market & fundamental data

Available fields

251

Groups with data

Currency

USD

Showing 251 of 251 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

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

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

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

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

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%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

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

Financial statements

Income-statement and cash-flow amounts, totals and per share.

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

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

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%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

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

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

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%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

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%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

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

Deeper analysis on FWRD

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

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Risks

Kill scenarios, soft-pass flags, and downside catalysts.

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Earnings

Next earnings setup and beat / inline / miss thresholds.

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Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

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Financials

Revenue, margins, cash flow, and balance-sheet context.

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Peers

Relative valuation and profitability against the cohort.

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Moat

Economic-profit evidence and competitive advantage risk.

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Industry cycle

Sector phase, capital cycle, and secular tailwinds.

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Frequently asked questions

About this FWRD report

Is a complete FWRD research report available?

No complete published report is available for Forward Air Corporation (FWRD) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

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