Forward Air Financials

FWRD Stock  USD 26.81  2.91  9.79%   
Based on the analysis of Forward Air's profitability, liquidity, and operating efficiency, Forward Air is not in a good financial situation at this time. It has a very high probability of going through financial hardship in March. At present, Forward Air's Short and Long Term Debt Total is projected to increase significantly based on the last few years of reporting. The current year's Other Current Liabilities is expected to grow to about 180.1 M, whereas Common Stock Shares Outstanding is forecasted to decline to about 23.8 M.
 
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Forward Air Balance Sheet Chart

At present, Forward Air's Short and Long Term Debt Total is projected to increase significantly based on the last few years of reporting. The current year's Other Current Liabilities is expected to grow to about 180.1 M, whereas Common Stock Shares Outstanding is forecasted to decline to about 23.8 M.
Key indicators impacting Forward Air's financial strength include:
Current ValueLast YearChange From Last Year 10 Year Trend
Debt Equity Ratio10.059.57
Sufficiently Up
Slightly volatile
Current Ratio1.341.41
Notably Down
Slightly volatile
The financial analysis of Forward Air is a critical element in measuring its lifeblood. Investors should carefully consider Forward Air's ability to pay suppliers or employees on time, ensuring interest payments are not accumulating.

Net Income

(698.51 Million)

  
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Understanding current and past Forward Air Financials, including the trends in assets, liabilities, equity and income are directly related to making proper and timely investing decisions. All of Forward Air's financial statements are interrelated, with each one affecting the others. For example, an increase in Forward Air's assets may result in an increase in income on the income statement.
Please note, the presentation of Forward Air's financial position, as portrayed in its financial statements, is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Forward Air's management is honest, while the outside auditors are strict and uncompromising. Please utilize our Beneish M Score to check the likelihood of Forward Air's management manipulating its earnings.

Forward Air Stock Summary

Forward Air competes with Northrop Grumman, Waste Management, Emerson Electric, 3M, and Transdigm Group. Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. Forward Air Corporation was founded in 1981 and is headquartered in Greeneville, Tennessee. Foward Air operates under Integrated Freight Logistics classification in the United States and is traded on NASDAQ Exchange. It employs 4035 people.
Specialization
Industrials, Integrated Freight & Logistics
InstrumentUSA Stock View All
ExchangeNASDAQ Exchange
ISINUS34986A1043
Business AddressBuilding N, Greeneville,
SectorAir Freight & Logistics
IndustryIndustrials
BenchmarkDow Jones Industrial
Websitewww.forwardair.com
Phone423 636 7000
CurrencyUSD - US Dollar

Forward Air Key Financial Ratios

Forward Air Key Balance Sheet Accounts

202120222023202420252026 (projected)
Total Assets1.1B1.2B3.0B2.8B3.2B3.4B
Other Current Liab66.2M67.7M103.5M149.1M171.5M180.1M
Net Debt282.8M221.0M1.8B2.0B2.3B2.5B
Retained Earnings334.9M436.1M480.3M(338.2M)(389.0M)(369.5M)
Accounts Payable44.8M50.1M45.4M105.7M121.5M127.6M
Cash37.3M45.8M122.0M104.9M120.6M126.7M
Net Receivables216.2M188.2M158.7M322.5M370.9M389.4M
Other Current Assets29.3M70.3M66.4M45.1M51.9M54.5M
Total Liab524.2M500.8M2.2B2.5B2.9B3.0B
Total Current Assets282.8M304.3M347.0M472.5M543.4M570.5M
Short Term Debt53.6M51.6M57.0M113.4M130.4M136.9M
Common Stock270K265K257K298K342.7K281.4K
Intangible Assets154.7M115.6M134.8M999.2M1.1B1.2B
Other Assets41.0M31.0M1K51.8M59.6M62.6M
Long Term Debt165.0M106.6M1.8B1.7B1.9B2.0B
Good Will266.8M258.0M278.7M522.7M601.1M631.2M
Other Liab102.8M130.7M93.0M110.1M126.7M133.0M
Net Tangible Assets329.8M272.2M172.2M822.0M945.2M992.5M
Long Term Debt Total72.2M117.4M155.5M106.6M122.6M128.7M
Capital Surpluse226.9M242.9M258.5M270.9M311.5M178.9M

Forward Air Key Income Statement Accounts

202120222023202420252026 (projected)
Interest Expense4.3M5.1M31.6M189.2M217.6M228.5M
Total Revenue1.4B1.7B1.4B2.5B2.8B3.0B
Gross Profit314.0M491.7M330.2M339.7M390.6M203.7M
Operating Income147.0M247.6M88.2M(1.1B)(956.6M)(908.8M)
Ebit147.0M247.6M88.2M(1.1B)(954.6M)(906.8M)
Ebitda182.0M290.1M145.6M(916.6M)(1.1B)(1.0B)
Cost Of Revenue1.1B1.2B1.0B2.1B2.5B2.6B
Income Before Tax142.7M242.5M56.6M(1.2B)(1.1B)(1.1B)
Net Income105.9M193.2M167.4M(817.0M)(735.3M)(698.5M)
Income Tax Expense35.8M63.0M13.8M(125.0M)(143.7M)(136.6M)
Research Development1.7M2.1M2.4M2.6M2.9M1.6M
Tax Provision38.9M67.6M13.8M(125.0M)(112.5M)(106.9M)
Net Interest Income(4.3M)(5.1M)(31.6M)(189.2M)(170.3M)(161.8M)

Forward Air Key Cash Accounts

202120222023202420252026 (projected)
Change In Cash(2.9M)8.5M1.9B(1.8B)(1.7B)(1.6B)
Free Cash Flow81.2M218.4M150.7M(112.5M)(129.3M)(122.9M)
Depreciation39.6M47.4M57.4M144.0M165.6M173.9M
Other Non Cash Items3.9M10.9M(13.9M)1.0B1.2B1.3B
Dividends Paid20.5M20.9M23.0M25.9M25.0M0.0
Capital Expenditures39.1M40.7M30.7M37.1M42.6M27.3M
Net Income116.1M193.2M42.8M(1.1B)(1.0B)(961.7M)
End Period Cash Flow37.3M45.8M2.0B105.3M121.1M104.1M
Change To Netincome23.9M16.9M26.5M29.9M34.4M36.1M
Change Receivables2.1M(25.7M)(60.8M)(11.0M)(9.9M)(10.4M)
Net Borrowings42.6M(49M)1.7B(98.4M)(113.2M)(107.5M)
Investments(88.3M)(104.5M)174.8M(1.6B)(1.4B)(1.4B)

Forward Financial Ratios Relationships

Comparative valuation techniques use various fundamental indicators to help in determining Forward Air's current stock value. Our valuation model uses many indicators to compare Forward Air value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Forward Air competition to find correlations between indicators driving Forward Air's intrinsic value. More Info.
Forward Air is rated below average in return on equity category among its peers. It is rated below average in return on asset category among its peers . At present, Forward Air's Return On Equity is projected to slightly decrease based on the last few years of reporting. Comparative valuation analysis is a catch-all technique that is used if you cannot value Forward Air by discounting back its dividends or cash flows. It compares the stock's price multiples to nearest competition to determine if the stock is relatively undervalued or overvalued.
Most indicators from Forward Air's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Forward Air current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Forward Air. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.
For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.The current year's Enterprise Value is expected to grow to about 1.7 B, whereas Selling General Administrative is forecasted to decline to about 47.4 M.
 2023 2024 2025 2026 (projected)
Gross Profit330.2M339.7M390.6M203.7M
Total Revenue1.4B2.5B2.8B3.0B

Forward Air fundamental ratios Correlations

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Click cells to compare fundamentals

Forward Air Account Relationship Matchups

Forward Air fundamental ratios Accounts

202120222023202420252026 (projected)
Total Assets1.1B1.2B3.0B2.8B3.2B3.4B
Other Current Liab66.2M67.7M103.5M149.1M171.5M180.1M
Net Debt282.8M221.0M1.8B2.0B2.3B2.5B
Retained Earnings334.9M436.1M480.3M(338.2M)(389.0M)(369.5M)
Accounts Payable44.8M50.1M45.4M105.7M121.5M127.6M
Cash37.3M45.8M122.0M104.9M120.6M126.7M
Net Receivables216.2M188.2M158.7M322.5M370.9M389.4M
Other Current Assets29.3M70.3M66.4M45.1M51.9M54.5M
Total Liab524.2M500.8M2.2B2.5B2.9B3.0B
Total Current Assets282.8M304.3M347.0M472.5M543.4M570.5M
Short Term Debt53.6M51.6M57.0M113.4M130.4M136.9M
Common Stock270K265K257K298K342.7K281.4K
Intangible Assets154.7M115.6M134.8M999.2M1.1B1.2B
Other Assets41.0M31.0M1K51.8M59.6M62.6M
Long Term Debt165.0M106.6M1.8B1.7B1.9B2.0B
Good Will266.8M258.0M278.7M522.7M601.1M631.2M
Other Liab102.8M130.7M93.0M110.1M126.7M133.0M
Net Tangible Assets329.8M272.2M172.2M822.0M945.2M992.5M
Long Term Debt Total72.2M117.4M155.5M106.6M122.6M128.7M
Capital Surpluse226.9M242.9M258.5M270.9M311.5M178.9M
Today, most investors in Forward Air Stock are looking for potential investment opportunities by analyzing not only static indicators but also various Forward Air's growth ratios. Consistent increases or decreases in fundamental ratios usually indicate a possible pattern that can be successfully translated into profits. However, when comparing two companies, knowing each company's growth growth rates may not be enough to decide which company is a better investment. That's why investors frequently use static breakdown of Forward Air growth as a starting point in their analysis.

Price Earnings To Growth Ratio

1.93E-4

At present, Forward Air's Price Earnings To Growth Ratio is projected to increase based on the last few years of reporting.

Forward Air February 13, 2026 Opportunity Range

Along with financial statement analysis, the daily predictive indicators of Forward Air help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of Forward Air. We use our internally-developed statistical techniques to arrive at the intrinsic value of Forward Air based on widely used predictive technical indicators. In general, we focus on analyzing Forward Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Forward Air's daily price indicators and compare them against related drivers.

Complementary Tools for Forward Stock analysis

When running Forward Air's price analysis, check to measure Forward Air's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Forward Air is operating at the current time. Most of Forward Air's value examination focuses on studying past and present price action to predict the probability of Forward Air's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Forward Air's price. Additionally, you may evaluate how the addition of Forward Air to your portfolios can decrease your overall portfolio volatility.
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