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FWRD

Forward AirNasdaqGS:FWRD Stock Report

Last Price

US$108.55

Market Cap

US$2.9b

7D

-3.6%

1Y

35.1%

Updated

21 Jan, 2022

Data

Company Financials +
FWRD fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance4/6
Financial Health4/6
Dividends4/6

FWRD Stock Overview

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada.

Forward Air Competitors

United Parcel Service

NYSE:UPS

US$175.8b

Expeditors International of Washington

NasdaqGS:EXPD

US$19.8b

C.H. Robinson Worldwide

NasdaqGS:CHRW

US$13.6b

Hub Group

NasdaqGS:HUBG

US$2.7b

Price History & Performance

Summary of all time highs, changes and price drops for Forward Air
Historical stock prices
Current Share PriceUS$108.55
52 Week HighUS$125.71
52 Week LowUS$70.93
Beta1.22
1 Month Change-4.66%
3 Month Change19.47%
1 Year Change35.08%
3 Year Change84.96%
5 Year Change118.19%
Change since IPO2,952.97%

Recent News & Updates

Dec 27
Returns On Capital At Forward Air (NASDAQ:FWRD) Paint A Concerning Picture

Returns On Capital At Forward Air (NASDAQ:FWRD) Paint A Concerning Picture

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...

Dec 14
Should You Think About Buying Forward Air Corporation (NASDAQ:FWRD) Now?

Should You Think About Buying Forward Air Corporation (NASDAQ:FWRD) Now?

Forward Air Corporation ( NASDAQ:FWRD ), is not the largest company out there, but it saw a significant share price...

Dec 01
Is Forward Air Corporation (NASDAQ:FWRD) Trading At A 42% Discount?

Is Forward Air Corporation (NASDAQ:FWRD) Trading At A 42% Discount?

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Forward Air...

Shareholder Returns

FWRDUS LogisticsUS Market
7D-3.6%-3.9%-4.0%
1Y35.1%15.0%6.6%

Return vs Industry: FWRD exceeded the US Logistics industry which returned 15% over the past year.

Return vs Market: FWRD exceeded the US Market which returned 6.6% over the past year.

Price Volatility

Is FWRD's price volatile compared to industry and market?
FWRD volatility
FWRD Average Weekly Movement4.6%
Logistics Industry Average Movement6.4%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: FWRD is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: FWRD's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19813,959Tom Schmitthttps://www.forwardaircorp.com

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. The company operates through two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.

Forward Air Fundamentals Summary

How do Forward Air's earnings and revenue compare to its market cap?
FWRD fundamental statistics
Market CapUS$2.93b
Earnings (TTM)US$92.29m
Revenue (TTM)US$1.55b

31.7x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FWRD income statement (TTM)
RevenueUS$1.55b
Cost of RevenueUS$1.20b
Gross ProfitUS$355.79m
ExpensesUS$263.51m
EarningsUS$92.29m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 09, 2022

Earnings per share (EPS)3.42
Gross Margin22.91%
Net Profit Margin5.94%
Debt/Equity Ratio28.3%

How did FWRD perform over the long term?

See historical performance and comparison

Dividends

0.8%

Current Dividend Yield

25%

Payout Ratio

Valuation

Is Forward Air undervalued compared to its fair value and its price relative to the market?

48.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FWRD ($108.55) is trading below our estimate of fair value ($210.87)

Significantly Below Fair Value: FWRD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FWRD is poor value based on its PE Ratio (31.7x) compared to the US Logistics industry average (17.2x).

PE vs Market: FWRD is poor value based on its PE Ratio (31.7x) compared to the US market (16.7x).


Price to Earnings Growth Ratio

PEG Ratio: FWRD is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: FWRD is overvalued based on its PB Ratio (5.3x) compared to the US Logistics industry average (3.2x).


Future Growth

How is Forward Air forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

25.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FWRD's forecast earnings growth (25.8% per year) is above the savings rate (2%).

Earnings vs Market: FWRD's earnings (25.8% per year) are forecast to grow faster than the US market (13.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FWRD's revenue (11.3% per year) is forecast to grow faster than the US market (9.2% per year).

High Growth Revenue: FWRD's revenue (11.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FWRD's Return on Equity is forecast to be high in 3 years time (22%)


Past Performance

How has Forward Air performed over the past 5 years?

6.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FWRD has high quality earnings.

Growing Profit Margin: FWRD's current net profit margins (5.9%) are higher than last year (4.8%).


Past Earnings Growth Analysis

Earnings Trend: FWRD's earnings have grown by 6.8% per year over the past 5 years.

Accelerating Growth: FWRD's earnings growth over the past year (55%) exceeds its 5-year average (6.8% per year).

Earnings vs Industry: FWRD earnings growth over the past year (55%) underperformed the Logistics industry 74.7%.


Return on Equity

High ROE: FWRD's Return on Equity (16.7%) is considered low.


Financial Health

How is Forward Air's financial position?


Financial Position Analysis

Short Term Liabilities: FWRD's short term assets ($289.3M) exceed its short term liabilities ($158.5M).

Long Term Liabilities: FWRD's short term assets ($289.3M) do not cover its long term liabilities ($356.5M).


Debt to Equity History and Analysis

Debt Level: FWRD's net debt to equity ratio (19%) is considered satisfactory.

Reducing Debt: FWRD's debt to equity ratio has increased from 8.3% to 28.3% over the past 5 years.

Debt Coverage: FWRD's debt is well covered by operating cash flow (56%).

Interest Coverage: FWRD's interest payments on its debt are well covered by EBIT (29.1x coverage).


Balance Sheet


Dividend

What is Forward Air current dividend yield, its reliability and sustainability?

0.77%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FWRD's dividend (0.77%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.36%).

High Dividend: FWRD's dividend (0.77%) is low compared to the top 25% of dividend payers in the US market (3.55%).


Stability and Growth of Payments

Stable Dividend: FWRD's dividends per share have been stable in the past 10 years.

Growing Dividend: FWRD's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.8%), FWRD's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FWRD's dividends in 3 years are forecast to be well covered by earnings (19.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.5yrs

Average management tenure


CEO

Tom Schmitt (56 yo)

3.33yrs

Tenure

US$3,200,911

Compensation

Mr. Thomas Schmitt, also known as Tom, is the President, Chief Executive Officer and Director of Forward Air Corporation, since September 1, 2018, also serves as its Executive Chairman of the Board since M...


CEO Compensation Analysis

Compensation vs Market: Tom's total compensation ($USD3.20M) is below average for companies of similar size in the US market ($USD5.23M).

Compensation vs Earnings: Tom's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: FWRD's management team is considered experienced (3.5 years average tenure).


Board Members

Experienced Board: FWRD's board of directors are considered experienced (3.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FWRD insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Forward Air Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Forward Air Corporation
  • Ticker: FWRD
  • Exchange: NasdaqGS
  • Founded: 1981
  • Industry: Air Freight and Logistics
  • Sector: Transportation
  • Implied Market Cap: US$2.926b
  • Shares outstanding: 26.96m
  • Website: https://www.forwardaircorp.com

Number of Employees


Location

  • Forward Air Corporation
  • Building N
  • 1915 Snapps Ferry Road
  • Greeneville
  • Tennessee
  • 37745
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/21 23:37
End of Day Share Price2022/01/21 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.