Forward Air Statistics

Total Valuation

Forward Air has a market cap or net worth of $470.26 million. The enterprise value is $2.48 billion.

Market Cap	470.26M
Enterprise Value	2.48B

Important Dates

The next estimated earnings date is Monday, August 10, 2026, after market close.

Earnings Date	Aug 10, 2026
Ex-Dividend Date	n/a

Share Statistics

Forward Air has 31.63 million shares outstanding. The number of shares has increased by 8.78% in one year.

Current Share Class	31.63M
Shares Outstanding	31.63M
Shares Change (YoY)	+8.78%
Shares Change (QoQ)	+1.12%
Owned by Insiders (%)	2.31%
Owned by Institutions (%)	78.65%
Float	25.15M

Valuation Ratios

PE Ratio	n/a
Forward PE	n/a
PS Ratio	0.19
Forward PS	0.19
PB Ratio	5.80
P/TBV Ratio	n/a
P/FCF Ratio	12.26
P/OCF Ratio	7.52
PEG Ratio	n/a

Financial Ratio History

Enterprise Valuation

The stock's EV/EBITDA ratio is 10.08, with an EV/FCF ratio of 64.66.

EV / Earnings	n/a
EV / Sales	1.01
EV / EBITDA	10.08
EV / EBIT	26.89
EV / FCF	64.66

Financial Position

The company has a current ratio of 1.23, with a Debt / Equity ratio of 17.59.

Current Ratio	1.23
Quick Ratio	1.07
Debt / Equity	17.59
Debt / EBITDA	2.64
Debt / FCF	56.07
Interest Coverage	0.52

Financial Efficiency

Return on equity (ROE) is -69.13% and return on invested capital (ROIC) is 4.24%.

Return on Equity (ROE)	-69.13%
Return on Assets (ROA)	2.10%
Return on Invested Capital (ROIC)	4.24%
Return on Capital Employed (ROCE)	4.09%
Weighted Average Cost of Capital (WACC)	7.55%
Revenue Per Employee	$387,647
Profits Per Employee	-$14,392
Employee Count	6,356
Asset Turnover	0.90
Inventory Turnover	n/a

Taxes

Income Tax	-23.27M
Effective Tax Rate	n/a

Stock Price Statistics

The stock price has decreased by -33.79% in the last 52 weeks. The beta is 1.42, so Forward Air's price volatility has been higher than the market average.

Beta (5Y)	1.42
52-Week Price Change	-33.79%
50-Day Moving Average	14.25
200-Day Moving Average	21.19
Relative Strength Index (RSI)	64.57
Average Volume (20 Days)	1,443,834

Short Selling Information

The latest short interest is 3.11 million, so 9.83% of the outstanding shares have been sold short.

Short Interest	3.11M
Short Previous Month	3.04M
Short % of Shares Out	9.83%
Short % of Float	12.36%
Short Ratio (days to cover)	2.36

Income Statement

In the last 12 months, Forward Air had revenue of $2.46 billion and -$91.48 million in losses. Loss per share was -$2.95.

Revenue	2.46B
Gross Profit	506.21M
Operating Income	92.23M
Pretax Income	-144.00M
Net Income	-91.48M
EBITDA	246.03M
EBIT	92.23M
Loss Per Share	-$2.95

Full Income Statement

Balance Sheet

The company has $141.02 million in cash and $2.15 billion in debt, giving a net cash position of -$2.01 billion or -$63.54 per share.

Cash & Cash Equivalents	141.02M
Total Debt	2.15B
Net Cash	-2.01B
Net Cash Per Share	-$63.54
Equity (Book Value)	122.28M
Book Value Per Share	2.56
Working Capital	100.46M

Full Balance Sheet

Cash Flow

In the last 12 months, operating cash flow was $62.51 million and capital expenditures -$24.16 million, giving a free cash flow of $38.35 million.

Operating Cash Flow	62.51M
Capital Expenditures	-24.16M
Depreciation & Amortization	153.80M
Net Borrowing	-17.10M
Free Cash Flow	38.35M
FCF Per Share	$1.21

Full Cash Flow Statement

Margins

Gross margin is 20.55%, with operating and profit margins of 3.74% and -3.71%.

Gross Margin	20.55%
Operating Margin	3.74%
Pretax Margin	-5.84%
Profit Margin	-3.71%
EBITDA Margin	9.99%
EBIT Margin	3.74%
FCF Margin	1.56%

Dividends & Yields

Forward Air does not appear to pay any dividends at this time.

Dividend Per Share	n/a
Dividend Yield	n/a
Dividend Growth (YoY)	n/a
Years of Dividend Growth	n/a
Payout Ratio	n/a
Buyback Yield	-8.78%
Shareholder Yield	-8.78%
Earnings Yield	-19.45%
FCF Yield	8.16%

Dividend Details

Analyst Forecast

The average price target for Forward Air is $18.33, which is 23.27% higher than the current price. The consensus rating is "Buy".

Price Target	$18.33
Price Target Difference	23.27%
Analyst Consensus	Buy
Analyst Count	6
Revenue Growth Forecast (3Y)	n/a
EPS Growth Forecast (3Y)	n/a

Stock Forecasts

Stock Splits

The last stock split was on April 4, 2005. It was a forward split with a ratio of 1.5:1.

Last Split Date	Apr 4, 2005
Split Type	Forward
Split Ratio	1.5:1

Scores

Forward Air has an Altman Z-Score of 0.99 and a Piotroski F-Score of 6. A Z-score under 3 suggests an increased risk of bankruptcy.

Altman Z-Score	0.99
Piotroski F-Score	6