28.58 USD
-0.79 (-2.69%)
28.58 USD
0 (0%)
Overall FWRD gets a fundamental rating of 3 out of 10. We evaluated FWRD against 23 industry peers in the Air Freight & Logistics industry. FWRD has a medium profitability rating, but doesn't score so well on its financial health evaluation. FWRD does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
- In the past year FWRD has reported negative net income.
- In the past year FWRD had a positive cash flow from operations.
- Of the past 5 years FWRD 4 years were profitable.
- FWRD had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
- Looking at the Return On Assets, with a value of -5.28%, FWRD is in line with its industry, outperforming 52.17% of the companies in the same industry.
- FWRD's Return On Equity of -105.62% is on the low side compared to the rest of the industry. FWRD is outperformed by 73.91% of its industry peers.
- FWRD has a Return On Invested Capital of 2.33%. This is comparable to the rest of the industry: FWRD outperforms 56.52% of its industry peers.
- FWRD had an Average Return On Invested Capital over the past 3 years of 8.28%. This is below the industry average of 12.36%.
- The last Return On Invested Capital (2.33%) for FWRD is well below the 3 year average (8.28%), which needs to be investigated, but indicates that FWRD had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.28% | ||
| ROE | -105.62% | ||
| ROIC | 2.33% |
ROA(3y)-2.87%
ROA(5y)0.6%
ROE(3y)-123.07%
ROE(5y)-69.45%
ROIC(3y)8.28%
ROIC(5y)8.77%
1.3 Margins
- FWRD has a better Operating Margin (2.88%) than 60.87% of its industry peers.
- FWRD's Operating Margin has declined in the last couple of years.
- Looking at the Gross Margin, with a value of 41.38%, FWRD belongs to the top of the industry, outperforming 86.96% of the companies in the same industry.
- FWRD's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 2.88% | ||
| PM (TTM) | N/A | ||
| GM | 41.38% |
OM growth 3Y-41.72%
OM growth 5Y-27.16%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.2%
GM growth 5Y-1.79%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so FWRD is still creating some value.
- FWRD has more shares outstanding than it did 1 year ago.
- Compared to 5 years ago, FWRD has more shares outstanding
- The debt/assets ratio for FWRD has remained at the same level compared to a year ago.
2.2 Solvency
- FWRD has an Altman-Z score of 1.02. This is a bad value and indicates that FWRD is not financially healthy and even has some risk of bankruptcy.
- Looking at the Altman-Z score, with a value of 1.02, FWRD is doing worse than 69.57% of the companies in the same industry.
- FWRD has a debt to FCF ratio of 111.57. This is a negative value and a sign of low solvency as FWRD would need 111.57 years to pay back of all of its debts.
- FWRD's Debt to FCF ratio of 111.57 is fine compared to the rest of the industry. FWRD outperforms 60.87% of its industry peers.
- FWRD has a Debt/Equity ratio of 12.24. This is a high value indicating a heavy dependency on external financing.
- Looking at the Debt to Equity ratio, with a value of 12.24, FWRD is doing worse than 82.61% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 12.24 | ||
| Debt/FCF | 111.57 | ||
| Altman-Z | 1.02 |
ROIC/WACC0.31
WACC7.59%
2.3 Liquidity
- FWRD has a Current Ratio of 1.20. This is a normal value and indicates that FWRD is financially healthy and should not expect problems in meeting its short term obligations.
- FWRD has a worse Current ratio (1.20) than 78.26% of its industry peers.
- FWRD has a Quick Ratio of 1.20. This is a normal value and indicates that FWRD is financially healthy and should not expect problems in meeting its short term obligations.
- The Quick ratio of FWRD (1.20) is worse than 73.91% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.2 | ||
| Quick Ratio | 1.2 |
3. Growth
3.1 Past
- The earnings per share for FWRD have decreased strongly by -343.35% in the last year.
- FWRD shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -22.27%.
- The Revenue has been growing by 15.28% on average over the past years. This is quite good.
EPS 1Y (TTM)-343.35%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%76.49%
Revenue 1Y (TTM)-22.27%
Revenue growth 3Y14.17%
Revenue growth 5Y15.28%
Sales Q2Q%-3.69%
3.2 Future
- The Earnings Per Share is expected to grow by 30.50% on average over the next years. This is a very strong growth
- Based on estimates for the next years, FWRD will show a small growth in Revenue. The Revenue will grow by 3.68% on average per year.
EPS Next Y49.47%
EPS Next 2Y41.35%
EPS Next 3Y30.5%
EPS Next 5YN/A
Revenue Next Year0%
Revenue Next 2Y2.17%
Revenue Next 3Y3.68%
Revenue Next 5YN/A
3.3 Evolution
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings Ratio is negative for FWRD. In the last year negative earnings were reported.
- Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for FWRD. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FWRD indicates a somewhat cheap valuation: FWRD is cheaper than 65.22% of the companies listed in the same industry.
- Based on the Price/Free Cash Flow ratio, FWRD is valued a bit cheaper than 65.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 57.7 | ||
| EV/EBITDA | 11.31 |
4.3 Compensation for Growth
- FWRD's earnings are expected to grow with 30.50% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y41.35%
EPS Next 3Y30.5%
5. Dividend
5.1 Amount
- FWRD has a Yearly Dividend Yield of 1.48%.
- Compared to an average industry Dividend Yield of 1.14, FWRD pays a bit more dividend than its industry peers.
- FWRD's Dividend Yield is slightly below the S&P500 average, which is at 1.89.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.48% |
5.2 History
- FWRD has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DP0%
EPS Next 2Y41.35%
EPS Next 3Y30.5%
28.58
-0.79 (-2.69%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryAir Freight & Logistics
Earnings (Last)11-05 2025-11-05/amc
Earnings (Next)N/A N/A
Inst Owners82.37%
Inst Owner Change0.1%
Ins Owners1.52%
Ins Owner Change-0.03%
Market Cap893.13M
Revenue(TTM)2.50B
Net Income(TTM)-147.64M
Analysts80
Price Target34.68 (21.34%)
Short Float %19.34%
Short Ratio6.11
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.48% |
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-10.62%
Min EPS beat(2)-143.02%
Max EPS beat(2)121.79%
EPS beat(4)1
Avg EPS beat(4)-1581.7%
Min EPS beat(4)-6208.61%
Max EPS beat(4)121.79%
EPS beat(8)2
Avg EPS beat(8)-730.93%
EPS beat(12)3
Avg EPS beat(12)-492.02%
EPS beat(16)6
Avg EPS beat(16)-366.63%
Revenue beat(2)0
Avg Revenue beat(2)-3.3%
Min Revenue beat(2)-3.39%
Max Revenue beat(2)-3.22%
Revenue beat(4)0
Avg Revenue beat(4)-4.36%
Min Revenue beat(4)-7.04%
Max Revenue beat(4)-3.22%
Revenue beat(8)0
Avg Revenue beat(8)-6.46%
Revenue beat(12)0
Avg Revenue beat(12)-7.01%
Revenue beat(16)3
Avg Revenue beat(16)-5.06%
PT rev (1m)0%
PT rev (3m)-6.42%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-19.39%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.33%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.39%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 0.36 | ||
| P/FCF | 57.7 | ||
| P/OCF | 20.53 | ||
| P/B | 6.39 | ||
| P/tB | N/A | ||
| EV/EBITDA | 11.31 |
EPS(TTM)-4.43
EYN/A
EPS(NY)0
Fwd EYN/A
FCF(TTM)0.5
FCFY1.73%
OCF(TTM)1.39
OCFY4.87%
SpS79.9
BVpS4.47
TBVpS-42.01
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.28% | ||
| ROE | -105.62% | ||
| ROCE | 3.08% | ||
| ROIC | 2.33% | ||
| ROICexc | 2.48% | ||
| ROICexgc | 7.33% | ||
| OM | 2.88% | ||
| PM (TTM) | N/A | ||
| GM | 41.38% | ||
| FCFM | 0.62% |
ROA(3y)-2.87%
ROA(5y)0.6%
ROE(3y)-123.07%
ROE(5y)-69.45%
ROIC(3y)8.28%
ROIC(5y)8.77%
ROICexc(3y)8.66%
ROICexc(5y)9.16%
ROICexgc(3y)15.75%
ROICexgc(5y)16.83%
ROCE(3y)10.95%
ROCE(5y)11.6%
ROICexgc growth 3Y-43.13%
ROICexgc growth 5Y-25.33%
ROICexc growth 3Y-51.15%
ROICexc growth 5Y-32.28%
OM growth 3Y-41.72%
OM growth 5Y-27.16%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.2%
GM growth 5Y-1.79%
F-Score3
Asset Turnover0.89
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 12.24 | ||
| Debt/FCF | 111.57 | ||
| Debt/EBITDA | 7.72 | ||
| Cap/Depr | 18.73% | ||
| Cap/Sales | 1.12% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 19.64% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.2 | ||
| Quick Ratio | 1.2 | ||
| Altman-Z | 1.02 |
F-Score3
WACC7.59%
ROIC/WACC0.31
Cap/Depr(3y)55.04%
Cap/Depr(5y)63.72%
Cap/Sales(3y)1.93%
Cap/Sales(5y)1.95%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-343.35%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%76.49%
EPS Next Y49.47%
EPS Next 2Y41.35%
EPS Next 3Y30.5%
EPS Next 5YN/A
Revenue 1Y (TTM)-22.27%
Revenue growth 3Y14.17%
Revenue growth 5Y15.28%
Sales Q2Q%-3.69%
Revenue Next Year0%
Revenue Next 2Y2.17%
Revenue Next 3Y3.68%
Revenue Next 5YN/A
EBIT growth 1Y-61.31%
EBIT growth 3Y-33.46%
EBIT growth 5Y-16.03%
EBIT Next Year85.63%
EBIT Next 3Y32.43%
EBIT Next 5YN/A
FCF growth 1Y-91.54%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-80.38%
OCF growth 3YN/A
OCF growth 5YN/A
FORWARD AIR CORP / FWRD FAQ
Can you provide the ChartMill fundamental rating for FORWARD AIR CORP?
ChartMill assigns a fundamental rating of 3 / 10 to FWRD.
What is the valuation status for FWRD stock?
ChartMill assigns a valuation rating of 2 / 10 to FORWARD AIR CORP (FWRD). This can be considered as Overvalued.
Can you provide the profitability details for FORWARD AIR CORP?
FORWARD AIR CORP (FWRD) has a profitability rating of 4 / 10.
What is the expected EPS growth for FORWARD AIR CORP (FWRD) stock?
The Earnings per Share (EPS) of FORWARD AIR CORP (FWRD) is expected to grow by 49.47% in the next year.
Is the dividend of FORWARD AIR CORP sustainable?
The dividend rating of FORWARD AIR CORP (FWRD) is 3 / 10 and the dividend payout ratio is 0%.