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forward air - FWRD

FWRD

Close Chg Chg %
16.61 0.45 2.71%

Closed Market

17.06

+0.45 (2.71%)

Volume: 611.42K

Last Updated:

Mar 26, 2026, 4:00 PM EDT

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Company Overview: forward air - FWRD

FWRD Key Data

Open

$16.39

 Day Range

16.19 - 17.22

52 Week Range

9.79 - 32.47

 Market Cap

$524.12M

Shares Outstanding

31.55M

 Public Float

21.48M

Beta

1.34

 Rev. Per Employee

N/A

P/E Ratio

N/A

 EPS

-$3.52

Yield

0.00%

 Dividend

$0.24

EX-DIVIDEND DATE

Nov 21, 2023

 SHORT INTEREST

N/A

AVERAGE VOLUME

888.55K

  

FWRD Performance

1 Week
 
 10.28%
 
1 Month
 
 -32.54%
 
3 Months
 
 -33.15%
 
1 Year
 
 -17.66%
 
5 Years
 
 -80.55%
 

FWRD Analyst Ratings

  • Sell
  • Under
  • Hold
  • Over
  • Buy
Number of Ratings 6
Full Ratings ➔

About forward air - FWRD

Forward Air Corp. engages in the provision of less-than-truckload (LTL), truckload, intermodal and pool distribution services. It operates through the following segments: Expedited LTL and Intermodal. The Expedited LTL segment provides expedited regional, inter-regional and national LTL, final mile and truckload services. The Intermodal segment provides first and last-mile high value intermodal container drayage services both to and from seaports and railheads. The company was founded by Scott M. Niswonger on October 23, 1981 and is headquartered in Dallas, TX.

FWRD At a Glance

Forward Air Corp.
3200 Olympus Boulevard
Dallas, Texas 75019
Phone 1-817-552-5270 Revenue 2.50B
Industry Trucking Net Income -107,796,000.00
Sector Transportation 2025 Sales Growth 0.843%
Fiscal Year-end 12 / 2026 Employees 6,062
View SEC Filings

FWRD Valuation

P/E Current N/A
P/E Ratio (with extraordinary items) N/A
P/E Ratio (without extraordinary items) N/A
Price to Sales Ratio 0.308
Price to Book Ratio 6.91
Price to Cash Flow Ratio 17.30
Enterprise Value to EBITDA 15.18
Enterprise Value to Sales 1.15
Total Debt to Enterprise Value 0.753

FWRD Efficiency

Revenue/Employee 411,599.802
Income Per Employee -17,782.25
Receivables Turnover 7.135
Total Asset Turnover 0.899

FWRD Liquidity

Current Ratio 1.216
Quick Ratio 1.216
Cash Ratio 0.247

FWRD Profitability

Gross Margin 1.46
Operating Margin 1.46
Pretax Margin -5.899
Net Margin -4.32
Return on Assets -3.883
Return on Equity -68.426
Return on Total Capital -4.742
Return on Invested Capital -4.918

FWRD Capital Structure

Total Debt to Total Equity 1,905.409
Total Debt to Total Capital 95.013
Total Debt to Total Assets 78.682
Long-Term Debt to Equity 1,796.871
Long-Term Debt to Total Capital 89.601
  • Income Statement
  • Balance Sheet
  • Cash Flow Statement

Annual Financials for Forward Air - FWRD

Collapse All in section
All values USD millions. 2022 2023 2024 2025 5-year trend
Sales/Revenue
1.97B 1.37B 2.47B 2.50B
Sales Growth
+18.71% -30.54% +80.51% +0.84%
Cost of Goods Sold (COGS) incl D&A
1.71B 1.28B 2.51B 2.46B
COGS excluding D&A
- - - -
-
Depreciation & Amortization Expense
47.39M 57.41M 143.98M 152.64M
Depreciation
31.40M 41.37M 58.10M 60.21M
Amortization of Intangibles
15.99M 16.04M 85.87M 92.42M
COGS Growth
+13.59% -24.89% +95.61% -2.00%
Gross Income
265.98M 88.21M (34.54M) 36.42M
Gross Income Growth
+66.96% -66.84% -139.16% +205.46%
Gross Profit Margin
+13.48% +6.44% -1.40% +1.46%
2022 2023 2024 2025 5-year trend
SG&A Expense
- - 5.09M 3.63M
-
Research & Development
- - - -
-
Other SG&A
- - 5.09M 3.63M
-
SGA Growth
- - - -28.60%
-
Other Operating Expense
- - (5.09M) (3.63M)
-
Unusual Expense
- - - 1.03B
-
EBIT after Unusual Expense
265.98M 88.21M (1.06B) 36.42M
Non Operating Income/Expense
- - 2.32M (2.87M)
-
Non-Operating Interest Income
- - - -
-
Equity in Earnings of Affiliates
- - - -
-
Interest Expense
5.14M 31.57M 189.22M 180.75M
Interest Expense Growth
+18.44% +514.46% +499.33% -4.48%
Gross Interest Expense
5.14M 31.57M 189.22M 180.75M
Interest Capitalized
- - - -
-
Pretax Income
260.84M 56.64M (1.25B) (147.20M)
Pretax Income Growth
+68.32% -78.29% -2,306.66% +88.22%
Pretax Margin
+13.22% +4.13% -50.51% -5.90%
Income Tax
67.65M 13.84M (124.99M) (5.47M)
Income Tax - Current - Domestic
59.96M 22.73M 3.80M 2.02M
Income Tax - Current - Foreign
- - 4.72M 3.45M
-
Income Tax - Deferred - Domestic
7.69M (8.89M) (133.51M) (5.04M)
Income Tax - Deferred - Foreign
- - - (5.90M)
-
Income Tax Credits
- - - -
-
Equity in Earnings of Affiliates
- - - -
-
Other After Tax Income (Expense)
- - (1.07M) (220.00K)
-
Consolidated Net Income
192.12M 42.58M (1.12B) (141.72M)
Minority Interest Expense
- - (314.26M) (33.93M)
-
Net Income
192.12M 42.58M (810.58M) (107.80M)
Net Income Growth
+66.65% -77.84% -2,003.53% +86.70%
Net Margin Growth
+9.74% +3.11% -32.76% -4.32%
Extraordinaries & Discontinued Operations
- - - (31.28M)
-
Discontinued Operations
- - - (31.28M)
-
Net Income After Extraordinaries
192.12M 11.30M (810.58M) (107.80M)
Preferred Dividends
- - - -
-
Net Income Available to Common
192.12M 11.30M (810.58M) (107.80M)
EPS (Basic)
7.1732 0.4362 -29.4329 -3.5092
EPS (Basic) Growth
+85.30% -93.92% -6,847.57% +88.08%
Basic Shares Outstanding
26.78M 25.91M 27.54M 30.72M
EPS (Diluted)
7.1352 0.4346 -29.4329 -3.5092
EPS (Diluted) Growth
+85.24% -93.91% -6,872.41% +88.08%
Diluted Shares Outstanding
26.93M 26.00M 27.54M 30.72M
EBITDA
313.36M 145.62M 109.44M 189.06M
EBITDA Growth
+57.58% -53.53% -24.84% +72.76%
EBITDA Margin
+15.88% +10.62% +4.42% +7.58%

Snapshot

Average Recommendation OVERWEIGHT Average Target Price 35.667
Number of Ratings 6 Current Quarters Estimate -0.382
FY Report Date 03 / 2026 Current Year's Estimate -0.712
Last Quarter’s Earnings -0.258 Median PE on CY Estimate N/A
Year Ago Earnings -2.099 Next Fiscal Year Estimate 0.265
Median PE on Next FY Estimate N/A

Earnings Per Share

This Quarter Next Quarter This Fiscal Next Fiscal
# of Estimates 6 6 6 6
Mean Estimate -0.38 -0.16 -0.71 0.27
High Estimates -0.26 -0.04 -0.41 0.69
Low Estimate -0.44 -0.29 -1.08 -0.09
Coefficient of Variance -18.41 -60.32 -36.90 108.76

Analysts Recommendations

Current 1 Month Ago 3 Months Ago
BUY 3 3 3
OVERWEIGHT 0 0 0
HOLD 3 3 3
UNDERWEIGHT 0 0 0
SELL 0 0 0
MEAN Overweight Overweight Overweight

Insider Actions for Forward Air - FWRD

Date Name Shares Transaction Value
Mar 18, 2026 Jamie G. Pierson CFO 91,884 Grant, award or other acq pursuant to Rule 16b-3(d) 0.00
Mar 18, 2026 Tim Osborne Executive VP of Operations 24,314 Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3 Non-derivative transaction at $16.05 per share 390,239.70
Mar 18, 2026 Tim Osborne Executive VP of Operations 23,831 Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3 Non-derivative transaction at $16.05 per share 382,487.55
Mar 18, 2026 Michael L. Hance CLO and Secretary 91,355 Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3 Non-derivative transaction at $16.05 per share 1,466,247.75
Mar 18, 2026 Michael L. Hance CLO and Secretary 90,486 Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3 Non-derivative transaction at $16.05 per share 1,452,300.30
Mar 18, 2026 Shawn Stewart Chief Executive Officer; Director 148,166 Grant, award or other acq pursuant to Rule 16b-3(d) 0.00
Feb 24, 2026 Jérôme Lorrain Executive Chairman; Director 22,167 Grant, award or other acq pursuant to Rule 16b-3(d) 0.00
Feb 24, 2026 James R. Faught Chief Accounting Officer 8,314 Grant, award or other acq pursuant to Rule 16b-3(d) 0.00
Feb 24, 2026 James R. Faught Chief Accounting Officer 7,952 Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3 Non-derivative transaction at $27.78 per share 220,906.56
Feb 24, 2026 Douglas James Smith Chief People Officer 13,810 Grant, award or other acq pursuant to Rule 16b-3(d) 0.00
Feb 24, 2026 Douglas James Smith Chief People Officer 13,294 Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3 Non-derivative transaction at $27.78 per share 369,307.32
Feb 24, 2026 Jessica L. Herren Chief Supply Chain Officer 11,035 Grant, award or other acq pursuant to Rule 16b-3(d) 0.00
Feb 24, 2026 Jessica L. Herren Chief Supply Chain Officer 10,599 Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3 Non-derivative transaction at $27.78 per share 294,440.22

Forward Air in the News