Forward Air Financials
| FWRD Stock | USD 18.81 0.14 0.75% |
| Current Value | Last Year | Change From Last Year | 10 Year Trend | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Debt Equity Ratio | 11.17 | 10.6371 |
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| Current Ratio | 1.17 | 1.2303 |
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The financial analysis of Forward Air is a critical element in measuring its lifeblood. Investors should not minimize Forward Air's ability to pay suppliers or employees on time, ensuring interest payments are not accumulating.
Net Income |
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Forward | Select Account or Indicator | Build AI portfolio with Forward Stock |
Understanding current and past Forward Air Financials, including the trends in assets, liabilities, equity and income are directly related to making proper and timely investing decisions. All of Forward Air's financial statements are interrelated, with each one affecting the others. For example, an increase in Forward Air's assets may result in an increase in income on the income statement.
Please note, the presentation of Forward Air's financial position, as portrayed in its financial statements, is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Forward Air's management is honest, while the outside auditors are strict and uncompromising. Please utilize our Beneish M Score to check the likelihood of Forward Air's management manipulating its earnings.
Forward Air Stock Summary
Forward Air competes with FTAI Infrastructure, Quanex Building, Compass Diversified, T1 Energy, and Aspen Aerogels. Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. Forward Air Corporation was founded in 1981 and is headquartered in Greeneville, Tennessee. Foward Air operates under Integrated Freight Logistics classification in the United States and is traded on NASDAQ Exchange. It employs 4035 people.Specialization | Industrials, Integrated Freight & Logistics |
| Instrument | USA Stock View All |
| Exchange | NASDAQ Exchange |
| ISIN | US3498531017 |
| Business Address | Building N, Greeneville, |
| Sector | Air Freight & Logistics |
| Industry | Industrials |
| Benchmark | Dow Jones Industrial |
| Website | www.forwardair.com/about |
| Phone | 423 636 7000 |
| Currency | USD - US Dollar |
Forward Air Key Financial Ratios
| Return On Equity | -0.52 | ||||
| Profit Margin | (0.07) % | ||||
| Operating Margin | 0.03 % | ||||
| Price To Sales | 0.23 X | ||||
| Revenue | 2.47 B |
Forward Air Key Balance Sheet Accounts
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 (projected) | ||
| Total Assets | 1.0B | 1.1B | 1.2B | 3.0B | 2.8B | 2.9B | |
| Other Current Liab | 42.7M | 27.4M | 16.6M | 103.5M | 149.1M | 156.6M | |
| Net Debt | 203.0M | 282.8M | 232.0M | 1.8B | 2.0B | 2.1B | |
| Retained Earnings | 304.1M | 334.9M | 436.1M | 480.3M | (338.2M) | (321.3M) | |
| Accounts Payable | 38.4M | 44.8M | 50.1M | 45.4M | 105.7M | 111.0M | |
| Cash | 40.3M | 37.3M | 45.8M | 122.0M | 104.9M | 110.1M | |
| Net Receivables | 156.5M | 216.2M | 188.2M | 158.7M | 322.5M | 338.6M | |
| Inventory | 2.2M | 2.1M | 21.0M | 1.0 | 1.15 | 1.09 | |
| Other Current Assets | 28.2M | 29.3M | 70.3M | 66.4M | 45.1M | 47.4M | |
| Total Liab | 500.4M | 524.2M | 500.8M | 2.2B | 2.5B | 2.6B | |
| Total Current Assets | 245.9M | 282.8M | 304.3M | 347.0M | 472.5M | 496.1M | |
| Short Term Debt | 91.0M | 49.0M | 51.6M | 57.0M | 113.4M | 119.0M | |
| Common Stock | 273K | 270K | 265K | 257K | 298K | 281.4K | |
| Intangible Assets | 145.0M | 154.7M | 154.8M | 134.8M | 999.2M | 1.0B | |
| Other Assets | 41.0M | 31.0M | 1K | 51.8M | 59.6M | 62.6M | |
| Long Term Debt | 112.4M | 165.0M | 106.6M | 1.8B | 1.7B | 1.8B | |
| Good Will | 245.0M | 266.8M | 306.2M | 278.7M | 522.7M | 548.8M | |
| Other Liab | 102.8M | 130.7M | 93.0M | 110.1M | 126.7M | 133.0M | |
| Net Tangible Assets | 329.8M | 272.2M | 172.2M | 822.0M | 945.2M | 992.5M | |
| Long Term Debt Total | 72.2M | 117.4M | 155.5M | 106.6M | 122.6M | 128.7M | |
| Capital Surpluse | 226.9M | 242.9M | 258.5M | 270.9M | 311.5M | 178.9M |
Forward Air Key Income Statement Accounts
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 (projected) | ||
| Interest Expense | 4.6M | 4.3M | 5.1M | 31.6M | 189.2M | 198.7M | |
| Total Revenue | 1.3B | 1.7B | 2.0B | 1.4B | 2.5B | 2.6B | |
| Gross Profit | 229.1M | 365.3M | 546.8M | 330.2M | 339.7M | 208.5M | |
| Operating Income | 73.9M | 159.3M | 247.6M | 88.2M | (1.1B) | (1.0B) | |
| Ebit | 73.9M | 147.0M | 247.6M | 88.2M | (1.1B) | (1.0B) | |
| Ebitda | 111.0M | 179.6M | 290.1M | 145.6M | (916.6M) | (870.8M) | |
| Cost Of Revenue | 1.0B | 1.3B | 1.4B | 1.0B | 2.1B | 2.2B | |
| Income Before Tax | 69.4M | 155.0M | 242.5M | 56.6M | (1.2B) | (1.2B) | |
| Net Income | 23.7M | 105.9M | 193.2M | 167.4M | (817.0M) | (776.1M) | |
| Income Tax Expense | 16.6M | 38.9M | 63.0M | 13.8M | (125.0M) | (118.7M) | |
| Research Development | 1.7M | 2.1M | 2.4M | 2.6M | 2.9M | 1.6M | |
| Tax Provision | 16.6M | 38.9M | 67.6M | 13.8M | (125.0M) | (118.7M) | |
| Net Interest Income | (4.6M) | (4.3M) | (5.1M) | (31.6M) | (189.2M) | (179.8M) |
Forward Air Key Cash Accounts
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 (projected) | ||
| Change In Cash | (24.5M) | (2.9M) | 8.5M | 1.9B | (1.8B) | (1.8B) | |
| Free Cash Flow | 63.8M | 81.2M | 218.4M | 150.7M | (112.5M) | (106.8M) | |
| Depreciation | 37.1M | 39.6M | 47.4M | 57.4M | 144.0M | 151.2M | |
| Other Non Cash Items | (5.1M) | 3.9M | 10.9M | (13.9M) | 1.0B | 1.1B | |
| Dividends Paid | 20.5M | 20.9M | 23.0M | 25.9M | 25.0M | 0.0 | |
| Capital Expenditures | 20.3M | 39.1M | 40.7M | 30.7M | 37.1M | 27.3M | |
| Net Income | 52.8M | 116.1M | 193.2M | 42.8M | (1.1B) | (1.1B) | |
| End Period Cash Flow | 40.3M | 37.3M | 45.8M | 2.0B | 105.3M | 104.1M | |
| Change To Netincome | 23.9M | 16.9M | 26.5M | 29.9M | 34.4M | 36.1M | |
| Change Receivables | 2.1M | (25.7M) | (60.8M) | (11.0M) | (9.9M) | (10.4M) | |
| Net Borrowings | (20.9M) | (21.4M) | 42.6M | (49M) | (44.1M) | (41.9M) | |
| Investments | (82.7M) | (88.3M) | (104.5M) | 174.8M | (1.6B) | (1.5B) |
Forward Financial Ratios Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Forward Air's current stock value. Our valuation model uses many indicators to compare Forward Air value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Forward Air competition to find correlations between indicators driving Forward Air's intrinsic value. More Info.Forward Air is rated below average in return on equity category among its peers. It is rated # 4 in return on asset category among its peers . At present, Forward Air's Return On Equity is projected to slightly decrease based on the last few years of reporting. Comparative valuation analysis is a catch-all technique that is used if you cannot value Forward Air by discounting back its dividends or cash flows. It compares the stock's price multiples to nearest competition to determine if the stock is relatively undervalued or overvalued.Forward Air Systematic Risk
Forward Air's systematic risk plays a vital role in portfolio allocation when considering its stock to be added to a well-diversified portfolio. Forward Air volatility which cannot be eliminated through diversification, requires returns over the risk-free rate. Over the long run, a well-diversified portfolio provides returns that match its exposure to systematic risk. In this case, investors face a trade-off between expected returns and systematic risk and, therefore, can only reduce a portfolio's exposure to systematic risk by sacrificing expected returns on the portfolio.
The output start index for this execution was nine with a total number of output elements of fifty-two. The Beta measures systematic risk based on how returns on Forward Air correlated with the market. If Beta is less than 0 Forward Air generally moves in the opposite direction as compared to the market. If Forward Air Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one Forward Air is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of Forward Air is generally in the same direction as the market. If Beta > 1 Forward Air moves generally in the same direction as, but more than the movement of the benchmark.
Today, most investors in Forward Air Stock are looking for potential investment opportunities by analyzing not only static indicators but also various Forward Air's growth ratios. Consistent increases or decreases in fundamental ratios usually indicate a possible pattern that can be successfully translated into profits. However, when comparing two companies, knowing each company's growth growth rates may not be enough to decide which company is a better investment. That's why investors frequently use static breakdown of Forward Air growth as a starting point in their analysis.
Price Earnings To Growth Ratio |
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Forward Air November 3, 2025 Opportunity Range
Along with financial statement analysis, the daily predictive indicators of Forward Air help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of Forward Air. We use our internally-developed statistical techniques to arrive at the intrinsic value of Forward Air based on widely used predictive technical indicators. In general, we focus on analyzing Forward Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Forward Air's daily price indicators and compare them against related drivers.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 19.26 | |||
| Value At Risk | (5.55) | |||
| Potential Upside | 6.11 |
Complementary Tools for Forward Stock analysis
When running Forward Air's price analysis, check to measure Forward Air's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Forward Air is operating at the current time. Most of Forward Air's value examination focuses on studying past and present price action to predict the probability of Forward Air's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Forward Air's price. Additionally, you may evaluate how the addition of Forward Air to your portfolios can decrease your overall portfolio volatility.
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