28.47 USD
-0.1 (-0.35%)
28.47 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. There are concerns on the financial health of FWRD while its profitability can be described as average. FWRD does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
- FWRD had negative earnings in the past year.
- FWRD had a positive operating cash flow in the past year.
- Of the past 5 years FWRD 4 years were profitable.
- Of the past 5 years FWRD 4 years had a positive operating cash flow.
1.2 Ratios
- FWRD's Return On Assets of -5.28% is in line compared to the rest of the industry. FWRD outperforms 52.17% of its industry peers.
- FWRD has a worse Return On Equity (-105.62%) than 73.91% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 2.33%, FWRD is in line with its industry, outperforming 56.52% of the companies in the same industry.
- 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 3 year average ROIC (8.28%) for FWRD is well above the current ROIC(2.33%). The reason for the recent decline needs to be investigated.
| 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 Operating Margin of 2.88%. This is in the better half of the industry: FWRD outperforms 60.87% of its industry peers.
- FWRD's Operating Margin has declined in the last couple of years.
- FWRD's Gross Margin of 41.38% is amongst the best of the industry. FWRD outperforms 86.96% of its industry peers.
- 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
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), FWRD is creating some value.
- Compared to 1 year ago, FWRD has more shares outstanding
- FWRD has more shares outstanding than it did 5 years ago.
- Compared to 1 year ago, FWRD has about the same debt to assets ratio.
2.2 Solvency
- Based on the Altman-Z score of 1.01, we must say that FWRD is in the distress zone and has some risk of bankruptcy.
- FWRD has a Altman-Z score of 1.01. This is in the lower half of the industry: FWRD underperforms 69.57% of its industry peers.
- 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.
- With a decent Debt to FCF ratio value of 111.57, FWRD is doing good in the industry, outperforming 60.87% of the companies in the same industry.
- FWRD has a Debt/Equity ratio of 12.24. This is a high value indicating a heavy dependency on external financing.
- FWRD has a Debt to Equity ratio of 12.24. This is amonst the worse of the industry: FWRD underperforms 82.61% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 12.24 | ||
| Debt/FCF | 111.57 | ||
| Altman-Z | 1.01 |
ROIC/WACC0.31
WACC7.62%
2.3 Liquidity
- A Current Ratio of 1.20 indicates that FWRD should not have too much problems paying its short term obligations.
- Looking at the Current ratio, with a value of 1.20, FWRD is doing worse than 78.26% of the companies in the same industry.
- 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.
- FWRD has a Quick ratio of 1.20. This is in the lower half of the industry: FWRD underperforms 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.
- The Revenue for FWRD has decreased by -22.27% in the past year. This is quite bad
- Measured over the past years, FWRD shows a quite strong growth in Revenue. The Revenue has been growing by 15.28% on average per year.
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
- Based on estimates for the next years, FWRD will show a very strong growth in Earnings Per Share. The EPS will grow by 30.07% on average per year.
- Based on estimates for the next years, FWRD will show a small growth in Revenue. The Revenue will grow by 3.32% on average per year.
EPS Next Y40.63%
EPS Next 2Y36.83%
EPS Next 3Y30.07%
EPS Next 5YN/A
Revenue Next Year-0.39%
Revenue Next 2Y2.15%
Revenue Next 3Y3.32%
Revenue Next 5YN/A
3.3 Evolution
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings Ratio is negative for FWRD. In the last year negative earnings were reported.
- Also next year FWRD is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, FWRD is valued a bit cheaper than the industry average as 65.22% of the companies are valued more expensively.
- 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 | 57.48 | ||
| EV/EBITDA | 11.18 |
4.3 Compensation for Growth
- A more expensive valuation may be justified as FWRD's earnings are expected to grow with 30.07% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y36.83%
EPS Next 3Y30.07%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 1.48%, FWRD has a reasonable but not impressive dividend return.
- FWRD's Dividend Yield is rather good when compared to the industry average which is at 1.13. FWRD pays more dividend than 82.61% of the companies in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.82, FWRD has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.48% |
5.2 History
- FWRD has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DP0%
EPS Next 2Y36.83%
EPS Next 3Y30.07%
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 40.63% in the next year.
Is the dividend of FORWARD AIR CORP sustainable?
The dividend rating of FORWARD AIR CORP (FWRD) is 4 / 10 and the dividend payout ratio is 0%.