Forward Air Corp (FWRD) stock
Close on Nov 12, 2026Market cap $579.68MP/E –Yield 0.00%
Forward Air Corp grew revenue 2.5% to $2.56B over the twelve months to Sep 30, 2026. Operating income fell 221.4% to -$139.84M, moving the operating margin from 4.6% to -5.5%. Free cash flow was $31.85M, up 100.9% from a year earlier. At the latest close the market valued the company at $579.68M.
Key statistics
Valuation at the latest close; fundamentals over the trailing twelve months, balances at Sep 30, 2026
Valuation
- Market cap
- $579.68M
- P/E ratio
- –
- Price to sales
- 0.23
- Price to book
- –
- Dividend yield
- 0.00%
- Free cash flow yield
- 5.49%
Fundamentals
- Revenue
- $2.56B
- Net income
- -$258.57M
- EPS, diluted
- -$8.04
- Free cash flow
- $31.85M
- Book value per share
- -$3.07
- Diluted shares
- 33M
Trading
- Next earnings
- Feb 22, 2027 (estimated, during market hours)
- Previous close
- $17.24
- Open
- $17.05
- Day's range
- $17.05 – $17.51
- Volume
- 382,182
- Average volume (20 days)
- 427,755
- Index membership
- Russell 2000, Russell 3000
- Beta (5 years)
- 1.35
- 52-week range
- $7.86 – $31.18
- RSI (14 days)
- 52.3
- Volatility (1 year)
- 84.6%
- Relative volume
- 0.69×
- WACC
- 9.1%
Index membership is inferred from the holdings of funds that track each index (IWM, IWV), as reported to the SEC for Jun 30, 2026. Join dates come from quarterly fund reports since 2019, so they are accurate to the quarter.
Market cap history
Month-end market cap since 2009, using shares outstanding reported at the time
Total return vs. the S&P 500
Price change plus reinvested dividends, to the close on Nov 12, 2026. The S&P 500 is measured by the SPY fund.
| Period | FWRD | S&P 500 | Difference | FWRD per year | S&P 500 per year |
|---|---|---|---|---|---|
| 1 month | +8.8% | -2.7% | +11.5 pts | ||
| 3 months | -12.0% | -1.7% | −10.2 pts | ||
| Year to date | -31.4% | +11.9% | −43.3 pts | ||
| 1 year | -23.3% | +12.0% | −35.3 pts | ||
| 3 years | -73.3% | +78.2% | −151.5 pts | -35.6% | +21.2% |
| 5 years | -83.5% | +73.2% | −156.7 pts | -30.3% | +11.6% |
| 10 years | -61.6% | +309.6% | −371.3 pts | -9.1% | +15.1% |
Fifteen years at a glance
Fiscal years 2011 to 2025 and trailing twelve months, USD
Revenue
Gross profit
Operating income
Net income
EPS, diluted
Free cash flow
Press releases
Releases Forward Air filed with the SEC as exhibits to Form 8-K or 6-K
- Results
- Results
- News
- Results
- Results
- Update
About Forward Air
Arrangement of Transportation of Freight & Cargo
Forward Air Corporation provides asset-light freight transportation and logistics management services. The company conducts business through three primary segments: Expedited Freight, Omni Logistics, and Intermodal. Its operations encompass less-than-truckload transit, full truckload brokerage, intermodal container drayage connecting seaports and railheads, customs brokerage, warehousing, distribution, and global freight forwarding across air and ocean modes. Forward Air serves business customers including freight forwarders, third-party logistics providers, commercial airlines, steamship carriers, and corporate clients across technology, retail, media, and life sciences sectors.
Company profile, executives and historyForward Air stock: common questions
What is Forward Air's stock price?
FWRD closed at $17.16 on Nov 12, 2026, down 0.46% on the day. Over the past 52 weeks it traded between $7.86 and $31.18.
What is Forward Air's market cap?
Forward Air was worth $579.68M at the close on Nov 12, 2026: the share price times the diluted shares outstanding.
What is FWRD's P/E ratio?
Forward Air lost money over the twelve months to Sep 30, 2026 (diluted EPS -$8.04), so it has no meaningful P/E ratio.
How much revenue does Forward Air make?
Forward Air reported revenue of $2.56B for the twelve months to Sep 30, 2026, up 2.5% from a year earlier.
Does Forward Air pay a dividend?
No. Forward Air has not paid a cash dividend over the last twelve months.
When does Forward Air report earnings next?
Forward Air is expected to report Q4 FY2026 results on Feb 22, 2027, during market hours. The date is estimated from its past reporting pattern until the company confirms it.
How has FWRD stock performed over the past year?
Including dividends, FWRD returned -23.3% over the past year, against +12.0% for the S&P 500.
How many FWRD shares are sold short?
2M shares were sold short at the latest FINRA report, 6.33% of the float, or 5.1 days of average trading volume.
Who are Forward Air's competitors?
Companies most similar to Forward Air by business, industry and size include HUBG, RLGT, BCO, EXPD, SLGB.
See a number that looks wrong?