Forward Air
Market Cap
US$2.2b
Last Updated
2021/01/26 00:58 UTC
Data Sources
Company Financials +
Executive Summary
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. More Details
Rewards
Risk Analysis
Snowflake Analysis
Adequate balance sheet with moderate growth potential.
Similar Companies
Share Price & News
How has Forward Air's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FWRD is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: FWRD's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
0.4%
FWRD
2.7%
US Logistics
2.6%
US Market
1 Year Return
18.9%
FWRD
44.6%
US Logistics
26.0%
US Market
Return vs Industry: FWRD underperformed the US Logistics industry which returned 44.6% over the past year.
Return vs Market: FWRD underperformed the US Market which returned 26% over the past year.
Shareholder returns
| FWRD | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.4% | 2.7% | 2.6% |
| 30 Day | 5.6% | -2.5% | 5.1% |
| 90 Day | 28.4% | -2.5% | 17.1% |
| 1 Year | 20.4%18.9% | 47.9%44.6% | 28.9%26.0% |
| 3 Year | 35.4%30.7% | 26.2%18.2% | 46.3%36.6% |
| 5 Year | 95.5%84.5% | 106.2%83.2% | 126.9%101.6% |
Long-Term Price Volatility Vs. Market
How volatile is Forward Air's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Is Forward Air Corporation's (NASDAQ:FWRD) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?3 weeks ago | Simply Wall St
If You Had Bought Forward Air (NASDAQ:FWRD) Stock Five Years Ago, You Could Pocket A 80% Gain Today1 month ago | Simply Wall St
Forward Air Corporation's (NASDAQ:FWRD) Intrinsic Value Is Potentially 24% Below Its Share PriceValuation
Is Forward Air undervalued compared to its fair value and its price relative to the market?
34.71x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: FWRD ($80.36) is trading above our estimate of fair value ($59.57)
Significantly Below Fair Value: FWRD is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: FWRD is poor value based on its PE Ratio (34.7x) compared to the US Logistics industry average (30.4x).
PE vs Market: FWRD is poor value based on its PE Ratio (34.7x) compared to the US market (21.3x).
Price to Earnings Growth Ratio
PEG Ratio: FWRD is poor value based on its PEG Ratio (1.4x)
Price to Book Ratio
PB vs Industry: FWRD is overvalued based on its PB Ratio (4x) compared to the US Logistics industry average (3.2x).
Next Steps
Future Growth
How is Forward Air forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
25.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FWRD's forecast earnings growth (25.2% per year) is above the savings rate (2%).
Earnings vs Market: FWRD's earnings (25.2% per year) are forecast to grow faster than the US market (21.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: FWRD's revenue (4.1% per year) is forecast to grow slower than the US market (10.6% per year).
High Growth Revenue: FWRD's revenue (4.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if FWRD's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Forward Air performed over the past 5 years?
13.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FWRD has high quality earnings.
Growing Profit Margin: FWRD's current net profit margins (4.5%) are lower than last year (6.9%).
Past Earnings Growth Analysis
Earnings Trend: FWRD's earnings have grown by 13% per year over the past 5 years.
Accelerating Growth: FWRD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FWRD had negative earnings growth (-25.8%) over the past year, making it difficult to compare to the Logistics industry average (-26.8%).
Return on Equity
High ROE: FWRD's Return on Equity (11.7%) is considered low.
Next Steps
Financial Health
How is Forward Air's financial position?
Financial Position Analysis
Short Term Liabilities: FWRD's short term assets ($235.0M) exceed its short term liabilities ($157.1M).
Long Term Liabilities: FWRD's short term assets ($235.0M) do not cover its long term liabilities ($338.9M).
Debt to Equity History and Analysis
Debt Level: FWRD's debt to equity ratio (20.4%) is considered satisfactory.
Reducing Debt: FWRD's debt to equity ratio has increased from 19.7% to 20.4% over the past 5 years.
Debt Coverage: FWRD's debt is well covered by operating cash flow (101.2%).
Interest Coverage: FWRD's interest payments on its debt are well covered by EBIT (21.2x coverage).
Balance Sheet
Next Steps
Dividend
What is Forward Air current dividend yield, its reliability and sustainability?
1.05%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FWRD's dividend (1.05%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.38%).
High Dividend: FWRD's dividend (1.05%) is low compared to the top 25% of dividend payers in the US market (3.85%).
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 reasonably low payout ratio (31.1%), FWRD's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.5yrs
Average management tenure
CEO
Tom Schmitt (55 yo)
2.33yrs
Tenure
US$1,332,721
Compensation
Mr. Thomas Schmitt, also known as Tom, is the President, Chief Executive Officer and Director of Forward Air Corporation, since September 1, 2018 and also serves as its Executive Chairman of the Board. He ...
CEO Compensation Analysis
Compensation vs Market: Tom's total compensation ($USD1.33M) is below average for companies of similar size in the US market ($USD3.86M).
Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 2.33yrs | US$1.33m | 0.10% $ 2.3m | |
| CFO, Senior VP | 4.58yrs | US$1.18m | 0.082% $ 1.8m | |
| Chief Operating Officer | 2.58yrs | US$1.26m | 0.11% $ 2.4m | |
| Chief Legal Officer & Secretary | 6.67yrs | US$925.33k | 0.13% $ 2.8m | |
| Consultant | 18.5yrs | US$1.08m | 0.18% $ 4.0m | |
| Chief Information Officer | no data | no data | 0.018% $ 407.0k | |
| Chief People Officer | no data | no data | 0.043% $ 943.7k | |
| Senior Vice President of Safety | no data | no data | no data | |
| Chief Commercial Officer | 0.42yr | no data | 0.014% $ 299.7k | |
| Controller | 0.17yr | no data | no data | |
| Consultant | 1.67yrs | US$3.59m | no data | |
| Assistant Corporate Secretary | no data | no data | no data |
2.5yrs
Average Tenure
54yo
Average Age
Experienced Management: FWRD's management team is considered experienced (2.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 2.33yrs | US$1.33m | 0.10% $ 2.3m | |
| Independent Director | 15.5yrs | US$209.88k | 0.045% $ 1.0m | |
| Independent Director | 6.17yrs | US$209.88k | 0.058% $ 1.3m | |
| Independent Director | 16.75yrs | US$196.36k | 0.11% $ 2.5m | |
| Independent Director | 2.25yrs | US$202.70k | 0.021% $ 458.2k | |
| Independent Director | 15.42yrs | US$214.22k | 0.073% $ 1.6m | |
| Independent Director | 3yrs | US$196.36k | 0.016% $ 354.8k | |
| Independent Director | 1.25yrs | US$85.97k | 0.014% $ 302.4k | |
| Lead Independent Director | 1.67yrs | US$229.33k | 0.041% $ 895.3k | |
| Independent Director | 3.5yrs | US$202.85k | 0.029% $ 638.0k |
3.5yrs
Average Tenure
65.5yo
Average Age
Experienced Board: FWRD's board of directors are considered experienced (3.5 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FWRD insiders have sold more shares than they have bought 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 company bio, 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
- Market Cap: US$2.211b
- Shares outstanding: 27.51m
- Website: https://www.forwardair.com
Number of Employees
Location
- Forward Air Corporation
- Building N
- 1915 Snapps Ferry Road
- Greeneville
- Tennessee
- 37745
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FWRD | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Nov 1993 |
Biography
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through three segments: Expedited Frei...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/26 00:58 |
| End of Day Share Price | 2021/01/25 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.