Forward Air Corporation (NASDAQ: FWRD) is a Industrials company in the Integrated Freight & Logistics industry. QuoTrend tracks its price, financials, earnings, analyst ratings and insider trades.
| Index | - | P/E | - | EPS (ttm) | -2.95 | Insider Own | 33.53% | Shs Outstand | 31.63M | Perf Week | 37.72% |
| Market Cap | 611.94M | Forward P/E | 100.78 | EPS next Y | 0.19 | Insider Trans | 0.00% | Shs Float | 26.47M | Perf Month | 50.00% |
| Enterprise Value | 2.58B | PEG | 0.01 | EPS next Q | - | Inst Own | - | Short Float | 8.80% | Perf Quarter | 11.66% |
| Income | -278.68M | P/S | 0.24 | EPS this Y | 69.15% | Inst Trans | - | Short Ratio | 1.70 | Perf Half Y | -31.29% |
| Sales | 2.52B | P/B | - | EPS next Y | 121.10% | ROA | -11.87% | Short Interest | 2.33M | Perf YTD | -22.60% |
| Book/sh | - | P/C | 5.39 | EPS next 5Y | - | ROE | -523.45% | 52W High | 31.59 -39.53% | Perf Year | -35.26% |
| Cash/sh | - | P/FCF | 7.03 | EPS past 3/5Y | - | ROIC | -7.91% | 52W Low | 7.76 146.18% | Perf 3Y | -83.73% |
| Dividend Est. | 0.96 (5.03%) | EV/EBITDA | - | Sales past 3/5Y | 14.09% 14.46% | Gross Margin | 10.64% | Volatility | 8.09% 7.08% | Perf 5Y | -78.12% |
| Dividend TTM | - | EV/Sales | 1.03 | EPS Y/Y TTM | 90.05% | Oper. Margin | -6.70% | ATR (14) | 1.20 | Perf 10Y | -58.28% |
| Dividend Ex-Date | Nov 21, 2023 | Quick Ratio | 1.32 | Sales Y/Y TTM | -0.40% | Profit Margin | -11.37% | RSI (14) | 75.30 | Recom | 2.81 |
| Dividend Gr. 3/5Y | 8.58% 8.79% | Current Ratio | 1.32 | EPS Q/Q | 31.45% | SMA20 | 30.48% | Beta | 1.39 | Target Price | 18.50 |
| Payout | 0.00% | Debt/Eq | - | Sales Q/Q | -5.06% | SMA50 | 43.60% | Rel Volume | 0.89 | Prev Close | 19.35 |
| Employees | 6,062 | LT Debt/Eq | 12.57 | Earnings | Nov 04 | SMA200 | -1.38% | Avg Volume | 1.34M | Price | 19.10 |
| IPO Date | Nov 16, 1993 | Option/Short | Yes / Yes | EPS/Sales Surpr. | -181.93% -6.16% | Net Debt/EBITDA | -18.30 | Volume | 1,196,448 | Change | -1.27% |
| Date | Action | Analyst | Rating | Target |
|---|---|---|---|---|
| Jul-21-26 | Reiterated | Stifel Nicolaus | Hold | $17 → $19 |
| May-08-26 | Reiterated | Stifel Nicolaus | Hold | $30 → $17 |
| May-08-26 | Reiterated | Susquehanna | Positive | $42 → $18 |
| Feb-24-26 | Reiterated | Susquehanna | Positive | $45 → $42 |
| Jan-21-26 | Reiterated | Stifel Nicolaus | Hold | $30 → $32 |
| Jan-05-26 | Reiterated | Susquehanna | Positive | $35 → $45 |
| Oct-17-25 | Reiterated | Stifel Nicolaus | Hold | $32 → $30 |
| Jun-26-25 | Upgrade | Stifel | Hold → Buy | |
| Feb-28-25 | Reiterated | Susquehanna | Positive | $40 → $35 |
| Nov-05-24 | Reiterated | Jefferies | Buy | $47 → $45 |
Forward Air Corporation, including its various subsidiaries, functions as a streamlined transportation and logistics enterprise throughout the United States and Canada, operating with an asset-light model. The company's business is structured into two principal divisions: Expedited Freight and Intermodal. The Expedited Freight segment delivers time-sensitive regional, inter-regional, and national less-than-truckload (LTL) services, complemented by local collection and delivery capabilities. This comprehensive segment also extends to final-mile services, full truckload transport, cargo consolidation and deconsolidation, storage solutions, customs brokerage, and general freight handling. Furthermore, it encompasses expedited truckload brokerage, dedicated fleet operations, and specialized logistics for high-security or temperature-sensitive goods. The Intermodal segment primarily focuses on drayage services for intermodal containers. It also provides contract warehousing as well as container freight station (CFS) warehousing and related handling services. Forward Air caters to a diverse customer base, which includes freight forwarders, third-party logistics (3PL) providers, integrated air cargo companies, both passenger and cargo airlines, ocean carriers, and retailers. Founded in 1981, Forward Air Corporation is based in Greeneville, Tennessee.
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| Line Item (USD, M) | TTM — | FY 2025 12/31/2025 | FY 2024 12/31/2024 | FY 2023 12/31/2023 | FY 2022 12/31/2022 | FY 2021 12/31/2021 | FY 2020 12/31/2020 | FY 2019 12/31/2019 | FY 2018 12/31/2018 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 2,518 | 2,495 | 2,474 | — | — | — | — | — | — | |
| Cost of Goods Sold Incl. D&A | 2,251 | 1,984 | 2,135 | — | — | — | — | — | — | |
| Gross Profit | 268 | 511 | 340 | — | — | — | — | — | — | |
| Selling, General and Administrative Excl. Other | 16 | 0 | 65 | — | — | — | — | — | — | |
| Research and Development | 0 | 0 | 0 | — | — | — | — | — | — | |
| Other Operating Expense | 421 | 475 | 1,338 | — | — | — | — | — | — | |
| Operating Income | -169 | 36 | -1,063 | — | — | — | — | — | — | |
| Interest Expense | 90 | 181 | 189 | — | — | — | — | — | — | |
| Unusual Expense | — | — | — | — | — | — | — | — | — | |
| Non-Operating Income (Expense) | -92 | -3 | 2 | — | — | — | — | — | — | |
| Net Income Before Taxes | -350 | -147 | -1,250 | — | — | — | — | — | — | |
| Income Taxes | -7 | -5 | -125 | — | — | — | — | — | — | |
| Consolidated Net Income | -285 | -108 | -817 | — | — | — | — | — | — | |
| Net Income From Continuing Operations | -344 | -142 | -1,125 | — | — | — | — | — | — | |
| Net Income | -285 | -108 | -817 | — | — | — | — | — | — | |
| EPS (Recurring) | -8.92 | -3.48 | -29.43 | — | — | — | — | — | — | |
| EPS (Basic, Before Extraordinaries) | -8.92 | -3.48 | -29.43 | — | — | — | — | — | — | |
| EPS (Diluted) | -8.92 | -3.48 | -29.66 | — | — | — | — | — | — | |
| EBITDA | -107 | 186 | -917 | — | — | — | — | — | — | |
| Other After Tax Adjustments | — | — | — | — | — | — | — | — | — | |
| Stock Option Compensation Expense | — | — | — | — | — | — | — | — | — | |
| Price To Earnings Ratio | — | — | — | — | — | — | — | — | — | |
| Price To Sales Ratio | 0.24 | 0.31 | 0.36 | — | — | — | — | — | — | |
| Gross Margin | 10.64 | 20.48 | 13.74 | — | — | — | — | — | — | |
| Operating Margin | -6.71 | 1.44 | -42.97 | — | — | — | — | — | — | |
| Net Margin | -11.32 | -4.33 | -33.02 | — | — | — | — | — | — | |
| Shares Outstanding | 32 | 31 | 28 | — | — | — | — | — | — | |
| Market Capitalization | 611 | 775 | 903 | — | — | — | — | — | — | |
| Operating Lease Expense | — | — | — | — | — | — | — | — | — |
| Insider | Relationship | Date | Transaction | Cost | #Shares | Value ($) | #Shares Total | SEC Form 4 |
|---|---|---|---|---|---|---|---|---|
| Cetus Capital VI, L.P. | 10% Owner | Nov 12 '25 | Sale | 22.38 | 10,000 | 223,800 | 3,116,546 | Feb 17 |
| Cetus Capital VI, L.P. | 10% Owner | Nov 11 '25 | Sale | 21.71 | 67,163 | 1,458,109 | 3,126,546 | Feb 17 |
| Cetus Capital VI, L.P. | 10% Owner | Nov 10 '25 | Sale | 21.83 | 120,000 | 2,619,300 | 3,193,709 | Feb 17 |
| Cetus Capital VI, L.P. | 10% Owner | Nov 06 '25 | Sale | 21.85 | 75,000 | 1,638,904 | 3,313,709 | Feb 17 |
| Cetus Capital VI, L.P. | 10% Owner | Oct 20 '25 | Buy | 17.93 | 225,000 | 4,034,950 | 3,388,709 | Feb 17 |
| Cetus Capital VI, L.P. | 10% Owner | Oct 14 '25 | Sale | 21.42 | 30,000 | 642,600 | 3,063,709 | Feb 17 |
| BONEBRAKE VALERIE A | Director | May 05 '21 | Sale | 97.62 | 250 | 24,405 | 10,154 | Mar 29 |
| MITCHIN KYLE R | Chief People Officer | Aug 25 '23 | Buy | 68.63 | 1,093 | 75,013 | 18,896 | Aug 30 |
| Ronning Nancee L | Chief Commercial Officer | Aug 22 '23 | Buy | 64.65 | 315 | 20,365 | 3,045 | Aug 30 |
| RUBLE CHRIS C | Chief Operating Officer | Aug 25 '23 | Buy | 69.77 | 1,433 | 99,992 | 28,276 | Aug 25 |
| POLIT JAVIER | Director | Aug 18 '23 | Buy | 64.59 | 1,000 | 64,590 | 6,343 | Aug 22 |
| MITCHIN KYLE R | Chief People Officer | Aug 18 '23 | Buy | 64.12 | 398 | 25,499 | 17,803 | Aug 18 |
| LYNCH GEORGE M | Director | Aug 18 '23 | Buy | 63.28 | 500 | 31,640 | 11,083 | Aug 18 |
| Carlock Craig | Director | Aug 18 '23 | Buy | 64.84 | 1,600 | 103,744 | 16,550 | Aug 18 |
| Mayes George S JR | Director | Aug 18 '23 | Buy | 64.00 | 500 | 32,000 | 5,256 | Aug 18 |