FWRDNasdaqArrangement of Transportation of Freight & CargoFiscal year ends December 31
FORWARD AIR CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$15.32+0.28 (+1.86%)
Close on Oct 19, 2026
- Market cap
- $497.61M
- P/E (TTM)
- –
- Dividend yield
- 0.00%
Forward Air statistics
Financials through Jun 30, 2026, price as of Oct 19, 2026, median of Arrangement of Transportation of Freight & Cargo companies for comparison
Valuation
| Measure | Forward Air | Industry median |
|---|---|---|
| Market Cap | $517.52M | $427.07M |
| Enterprise Value | $2.06B | $1.41B |
| PS Ratio | 0.21 | 1.73 |
| P/FCF Ratio | 10.73 | 13.32 |
| P/OCF Ratio | 7.31 | 10.25 |
Enterprise value
| Measure | Forward Air | Industry median |
|---|---|---|
| EV / Sales | 0.82 | 1.98 |
| EV / FCF | 42.81 | 19.90 |
Income (trailing twelve months)
| Measure | Forward Air | Industry median |
|---|---|---|
| Revenue | $2.52B | $476.06M |
| Operating Income | -$168.73M | $286.64K |
| Pretax Income | -$350.92M | -$221.67K |
| Net Income | -$286.20M | -$385.21K |
| EBITDA | -$13.48M | $30.00M |
| EPS (Diluted) | -$8.90 | $0.00 |
Margins
| Measure | Forward Air | Industry median |
|---|---|---|
| Operating Margin | -6.70% | 0.58% |
| Pretax Margin | -13.9% | -1.55% |
| Profit Margin | -11.4% | -1.90% |
| EBITDA Margin | -0.54% | 3.39% |
| FCF Margin | 1.91% | 1.66% |
Returns
| Measure | Forward Air | Industry median |
|---|---|---|
| Return on Equity (ROE) | -1574.1% | -0.47% |
| Return on Assets (ROA) | -11.1% | -1.75% |
| Return on Invested Capital (ROIC) | -8.35% | 4.67% |
| Return on Capital Employed (ROCE) | -8.57% | 6.03% |
Growth
| Measure | Forward Air | Industry median |
|---|---|---|
| Revenue Growth (YoY) | -0.11% | 6.77% |
| FCF Growth (YoY) | 503.2% | 32.5% |
| Revenue Growth (3Y CAGR) | 14.1% | 5.07% |
| Revenue Growth (5Y CAGR) | 14.5% | 12.6% |
Balance sheet
| Measure | Forward Air | Industry median |
|---|---|---|
| Cash & Short-Term Investments | $139.45M | $40.19M |
| Total Debt | $1.69B | $758.49M |
| Net Cash (Debt) | -$1.55B | -$1.25M |
| Net Cash Per Share | -$46.00 | -$0.02 |
| Equity (Book Value) | -$115.43M | $134.19M |
| Book Value Per Share | -$3.42 | $2.91 |
| Tangible Book Value | -$1.26B | $4.98M |
| Working Capital | $141.55M | $11.37M |
Financial position
| Measure | Forward Air | Industry median |
|---|---|---|
| Current Ratio | 1.32 | 1.47 |
| Quick Ratio | 1.15 | 1.00 |
| Debt / FCF | 35.12 | 2.38 |
| Interest Coverage | -0.95 | 0.62 |
Cash flow (trailing twelve months)
| Measure | Forward Air | Industry median |
|---|---|---|
| Operating Cash Flow | $70.84M | $8.87M |
| Capital Expenditures | -$22.63M | -$33.47M |
| Free Cash Flow | $48.22M | $96.91M |
| FCF Per Share | $1.43 | $1.43 |
Efficiency
| Measure | Forward Air | Industry median |
|---|---|---|
| Asset Turnover | 0.97 | 0.81 |
| Revenue Per Employee | $415.39K | $415.39K |
| Profits Per Employee | -$47.21K | -$14.12K |
| Employee Count | 6,062 | 1,107 |
Dividends and yields
| Measure | Forward Air | Industry median |
|---|---|---|
| Earnings Yield | -55.3% | -0.19% |
| FCF Yield | 9.32% | 3.61% |
| Dividend Yield | 0.00% | 0.78% |
| Shareholder Yield | 0.00% | 0.86% |
| Dividend Per Share | $0.00 | $1.54 |
| Years of Dividend Growth | 0 | 2 |
Shares
| Measure | Forward Air | Industry median |
|---|---|---|
| Shares Outstanding | 33,780,900 | 57,587,600 |
| Shares Change (YoY) | 7.14% | 2.77% |
| Shares Change (QoQ) | 6.77% | 0.00% |
| Float | 28,921,400 | 40,687,000 |
| Shares Held by Insiders | 14.4% | 4.40% |
| Shares Held by Institutions | 90.2% | 98.6% |
Taxes
| Measure | Forward Air | Industry median |
|---|---|---|
| Income Tax | -$6.69M | $3.63M |
Scores
| Measure | Forward Air | Industry median |
|---|---|---|
| Altman Z-Score | 0.61 | 1.56 |
| Piotroski F-Score | 4 | 4 |
Calculated by StockData from Forward Air's SEC filings and the latest closing price. Hover a measure to see its formula. The grey column is the median of companies in the same industry group (two-digit SIC code); green or red marks a better or worse value than that median.