FORWARD AIR CORP (FWRD)
US3498531017 - Common Stock
FWRD gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 20 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 is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year FWRD was profitable.
In the past year FWRD has reported a negative cash flow from operations.
Each year in the past 5 years FWRD has been profitable.
FWRD had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of FWRD (-20.83%) is worse than 84.21% of its industry peers.
Looking at the Return On Equity, with a value of -281.54%, FWRD is doing worse than 78.95% of the companies in the same industry.
FWRD's Return On Invested Capital of 5.33% is fine compared to the rest of the industry. FWRD outperforms 63.16% of its industry peers.
FWRD had an Average Return On Invested Capital over the past 3 years of 11.88%. This is in line with the industry average of 10.92%.
The last Return On Invested Capital (5.33%) for FWRD is well below the 3 year average (11.88%), which needs to be investigated, but indicates that FWRD had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -20.83% | ||
| ROE | -281.54% | ||
| ROIC | 5.33% |
ROA(3y)10.3%
ROA(5y)8.36%
ROE(3y)22.22%
ROE(5y)17.17%
ROIC(3y)11.88%
ROIC(5y)10.36%
1.3 Margins
FWRD's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 5.78%, FWRD is in the better half of the industry, outperforming 68.42% of the companies in the same industry.
FWRD's Operating Margin has been stable in the last couple of years.
The Gross Margin of FWRD (44.69%) is better than 78.95% of its industry peers.
FWRD's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 5.78% | ||
| PM (TTM) | N/A | ||
| GM | 44.69% |
OM growth 3Y22.23%
OM growth 5Y0.63%
PM growth 3Y87.75%
PM growth 5Y8.66%
GM growth 3Y5.21%
GM growth 5Y2.34%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), FWRD is creating value.
Compared to 1 year ago, FWRD has less shares outstanding
The number of shares outstanding for FWRD has been reduced compared to 5 years ago.
Compared to 1 year ago, FWRD has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.33, we must say that FWRD is in the distress zone and has some risk of bankruptcy.
FWRD's Altman-Z score of 1.33 is on the low side compared to the rest of the industry. FWRD is outperformed by 63.16% of its industry peers.
FWRD has a Debt/Equity ratio of 7.55. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 7.55, FWRD is not doing good in the industry: 78.95% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.55 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.33 |
ROIC/WACC0.86
WACC6.22%
2.3 Liquidity
FWRD has a Current Ratio of 1.21. 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 Current ratio (1.21) which is comparable to the rest of the industry.
FWRD has a Quick Ratio of 1.21. This is a normal value and indicates that FWRD is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.21, FWRD perfoms like the industry average, outperforming 57.89% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.21 | ||
| Quick Ratio | 1.21 |
3. Growth
3.1 Past
FWRD shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -63.01%.
Measured over the past 5 years, FWRD shows a small growth in Earnings Per Share. The EPS has been growing by 5.18% on average per year.
Looking at the last year, FWRD shows a very strong growth in Revenue. The Revenue has grown by 86.33%.
Measured over the past years, FWRD shows a small growth in Revenue. The Revenue has been growing by 3.80% on average per year.
EPS 1Y (TTM)-63.01%
EPS 3Y69.35%
EPS 5Y5.18%
EPS Q2Q%-275.76%
Revenue 1Y (TTM)86.33%
Revenue growth 3Y2.59%
Revenue growth 5Y3.8%
Sales Q2Q%58.65%
3.2 Future
FWRD is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -31.25% yearly.
FWRD is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.04% yearly.
EPS Next Y-118%
EPS Next 2Y-63.83%
EPS Next 3Y-31.25%
EPS Next 5YN/A
Revenue Next Year51.78%
Revenue Next 2Y27.7%
Revenue Next 3Y17.04%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 15.90, the valuation of FWRD can be described as correct.
FWRD's Price/Earnings ratio is a bit cheaper when compared to the industry. FWRD is cheaper than 78.95% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.20. FWRD is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 54.20, FWRD can be considered very expensive at the moment.
FWRD's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 23.73. FWRD is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.9 | ||
| Fwd PE | 54.2 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FWRD is valued a bit cheaper than 78.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 7.93 |
4.3 Compensation for Growth
FWRD has a very decent profitability rating, which may justify a higher PE ratio.
A cheap valuation may be justified as FWRD's earnings are expected to decrease with -31.25% in the coming years.
PEG (NY)N/A
PEG (5Y)3.07
EPS Next 2Y-63.83%
EPS Next 3Y-31.25%
5. Dividend
5.1 Amount
No dividends for FWRD!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
FORWARD AIR CORP
NASDAQ:FWRD (12/20/2024, 8:13:50 PM)
Premarket: 29.39 +0.46 (+1.59%)28.93
-1.94 (-6.28%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryAir Freight & Logistics
Earnings (Last)
Earnings (Next)
Inst Owners93.54%
Inst Owner Change0.74%
Ins Owners1.21%
Ins Owner Change6.42%
Market Cap837.52M
Analysts74.29
Price Target37.12 (28.31%)
Short Float %20.29%
Short Ratio6.73
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)8.59%
DP-0.97%
Div Incr Years0
Div Non Decr Years18
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)484.21%
Min EPS beat(2)-944.44%
Max EPS beat(2)1912.87%
EPS beat(4)1
Avg EPS beat(4)119.83%
Min EPS beat(4)-944.44%
Max EPS beat(4)1912.87%
EPS beat(8)2
Avg EPS beat(8)52.81%
EPS beat(12)5
Avg EPS beat(12)38.39%
EPS beat(16)7
Avg EPS beat(16)20.2%
Revenue beat(2)0
Avg Revenue beat(2)-1.89%
Min Revenue beat(2)-1.94%
Max Revenue beat(2)-1.85%
Revenue beat(4)0
Avg Revenue beat(4)-8.56%
Min Revenue beat(4)-18.39%
Max Revenue beat(4)-1.85%
Revenue beat(8)0
Avg Revenue beat(8)-8.34%
Revenue beat(12)3
Avg Revenue beat(12)-5.3%
Revenue beat(16)5
Avg Revenue beat(16)-3.57%
PT rev (1m)-2.15%
PT rev (3m)16.67%
EPS NQ rev (1m)31.51%
EPS NQ rev (3m)-127.96%
EPS NY rev (1m)-209.09%
EPS NY rev (3m)31.17%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-8.45%
Revenue NY rev (1m)-0.04%
Revenue NY rev (3m)-0.08%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.9 | ||
| Fwd PE | 54.2 | ||
| P/S | 0.26 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 3.7 | ||
| P/tB | N/A | ||
| EV/EBITDA | 7.93 |
EPS(TTM)1.82
EY6.29%
EPS(NY)0.53
Fwd EY1.85%
FCF(TTM)-2.31
FCFYN/A
OCF(TTM)-1.03
OCFYN/A
SpS110.96
BVpS7.81
TBVpS-52.62
PEG (NY)N/A
PEG (5Y)3.07
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -20.83% | ||
| ROE | -281.54% | ||
| ROCE | 7.13% | ||
| ROIC | 5.33% | ||
| ROICexc | 5.63% | ||
| ROICexgc | 19.28% | ||
| OM | 5.78% | ||
| PM (TTM) | N/A | ||
| GM | 44.69% | ||
| FCFM | N/A |
ROA(3y)10.3%
ROA(5y)8.36%
ROE(3y)22.22%
ROE(5y)17.17%
ROIC(3y)11.88%
ROIC(5y)10.36%
ROICexc(3y)12.41%
ROICexc(5y)10.9%
ROICexgc(3y)22.16%
ROICexgc(5y)19.6%
ROCE(3y)15.88%
ROCE(5y)13.85%
ROICexcg growth 3Y-26.44%
ROICexcg growth 5Y-27.85%
ROICexc growth 3Y-14.34%
ROICexc growth 5Y-20.73%
OM growth 3Y22.23%
OM growth 5Y0.63%
PM growth 3Y87.75%
PM growth 5Y8.66%
GM growth 3Y5.21%
GM growth 5Y2.34%
F-Score1
Asset Turnover1.05
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.55 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.58 | ||
| Cap/Depr | 30.94% | ||
| Cap/Sales | 1.16% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.21 | ||
| Quick Ratio | 1.21 | ||
| Altman-Z | 1.33 |
F-Score1
WACC6.22%
ROIC/WACC0.86
Cap/Depr(3y)79.38%
Cap/Depr(5y)70.66%
Cap/Sales(3y)2.22%
Cap/Sales(5y)2.01%
Profit Quality(3y)93.81%
Profit Quality(5y)143.35%
High Growth Momentum
Growth
EPS 1Y (TTM)-63.01%
EPS 3Y69.35%
EPS 5Y5.18%
EPS Q2Q%-275.76%
EPS Next Y-118%
EPS Next 2Y-63.83%
EPS Next 3Y-31.25%
EPS Next 5YN/A
Revenue 1Y (TTM)86.33%
Revenue growth 3Y2.59%
Revenue growth 5Y3.8%
Sales Q2Q%58.65%
Revenue Next Year51.78%
Revenue Next 2Y27.7%
Revenue Next 3Y17.04%
Revenue Next 5YN/A
EBIT growth 1Y17.87%
EBIT growth 3Y25.39%
EBIT growth 5Y4.45%
EBIT Next Year87.36%
EBIT Next 3Y33.22%
EBIT Next 5YN/A
FCF growth 1Y-133.51%
FCF growth 3Y32.75%
FCF growth 5Y5.92%
OCF growth 1Y-112.35%
OCF growth 3Y28.9%
OCF growth 5Y3.52%