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 is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- In the past year FWRD has reported negative net income.
- FWRD had a positive operating cash flow in the past year.
- FWRD had positive earnings in 4 of the past 5 years.
- 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.
- Looking at the Return On Equity, with a value of -105.62%, FWRD is doing worse than 73.91% of the companies in the same industry.
- FWRD has a Return On Invested Capital (2.33%) which is in line with its industry peers.
- The Average Return On Invested Capital over the past 3 years for FWRD 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
- Looking at the Operating Margin, with a value of 2.88%, FWRD is in the better half of the industry, outperforming 60.87% of the companies in the same industry.
- In the last couple of years the Operating Margin of FWRD has declined.
- FWRD's Gross Margin of 41.38% is amongst the best of the industry. FWRD outperforms 86.96% of its industry peers.
- In the last couple of years the Gross Margin of FWRD has declined.
| 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.
- FWRD has more shares outstanding than it did 5 years ago.
- FWRD has about the same debt/assets ratio as last year.
2.2 Solvency
- FWRD has an Altman-Z score of 1.01. 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 1.01, 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 has a Debt to FCF ratio of 111.57. This is in the better half 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.
- 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
WACC7.61%
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.
- The Current ratio of FWRD (1.20) is worse than 78.26% of its industry peers.
- A Quick Ratio of 1.20 indicates that FWRD should not have too much problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 1.20, FWRD is doing worse than 73.91% of the companies in the same industry.
| 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%.
- 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
- The Earnings Per Share is expected to grow by 30.07% 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 3.32% 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
- FWRD reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
- 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.
- FWRD's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. FWRD is cheaper than 65.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 57.7 | ||
| EV/EBITDA | 11.2 |
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
- FWRD has a Yearly Dividend Yield of 1.48%.
- Compared to an average industry Dividend Yield of 1.13, FWRD pays a better dividend. On top of this FWRD pays more dividend than 82.61% of the companies listed in the same industry.
- Compared to the average S&P500 Dividend Yield of 1.85, FWRD is paying slightly less dividend.
| 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%
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 Target35.7 (24.91%)
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)2.94%
PT rev (3m)-3.67%
EPS NQ rev (1m)-28.21%
EPS NQ rev (3m)-53.06%
EPS NY rev (1m)-17.49%
EPS NY rev (3m)-19.06%
Revenue NQ rev (1m)-1.51%
Revenue NQ rev (3m)-2.88%
Revenue NY rev (1m)-0.39%
Revenue NY rev (3m)-1.59%
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 | 11.2 |
EPS(TTM)-4.43
EYN/A
EPS(NY)-0.25
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 | 1.01 |
F-Score3
WACC7.61%
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 Y40.63%
EPS Next 2Y36.83%
EPS Next 3Y30.07%
EPS Next 5YN/A
Revenue 1Y (TTM)-22.27%
Revenue growth 3Y14.17%
Revenue growth 5Y15.28%
Sales Q2Q%-3.69%
Revenue Next Year-0.39%
Revenue Next 2Y2.15%
Revenue Next 3Y3.32%
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 40.63% 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%.