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FWRD Overview

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$
0.000
0.000(0.000%)
At close
0.000(0.000%)Aft-market
ET
$
0.000
0.000(0.000%)
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0.000(0.000%)Aft-market
ET
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Intellectia

Loading chart...

High
14.465
Open
13.160
VWAP
13.60
Vol
2.51M
Mkt Cap
421.56M
Low
12.990
Amount
34.15M
EV/EBITDA(TTM)
9.04
Total Shares
31.63M
EV
2.05B
EV/OCF(TTM)
32.74
P/S(TTM)
0.17
Forward Air Corporation is an asset-light provider of transportation services across the United States, Canada and Mexico. Its Expedited Freight segment provides expedited regional, inter-regional and national less-than-truckload (LTL) services. Expedited Freight also offers customers local pick-up and delivery and other services including truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage and other handling. The Omni Logistics segment provides a full suite of global logistics services. Services include air and ocean freight consolidation and forwarding, customs brokerage, warehousing and distribution, time-definite transportation services and other supply chain solutions. The Intermodal segment provides first- and last-mile high-value intermodal container drayage services both to and from seaports and railheads. Intermodal also offers dedicated contract and CFS warehouse and handling services, and in select locations, linehaul and LTL services.
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Events Timeline

(ET)
2026-06-12
16:30:00
SpaceX IPO Makes Elon Musk the World's First Trillionaire
select
2026-06-12
12:30:00
SpaceX IPO Drives Market Higher
select
2026-06-12
06:00:00
Amazon Considers Acquiring Forward Air to Enhance Logistics Capabilities
select
link
2026-05-07 (ET)
2026-05-07
16:40:00
Forward Air Shares Drop 46% to $9.30 After Q1 Results
select
2026-05-07
16:40:00
Forward Air Q1 Revenue at $582M, Below Expectations
select

News

NASDAQ.COM
6.5
06-12NASDAQ.COM
Logistics Sector Investment Choice Analysis
  • Financial Performance Comparison: Forward Air reported approximately $2.5 billion in revenue for FY 2025, a slight increase of 0.8% year-over-year, but incurred a net loss of about $107.8 million, resulting in a negative net margin of -4.3%, indicating severe profitability issues, compounded by a debt-to-equity ratio of 19.1 that restricts financial flexibility.
  • Customer Concentration Risk: Forward Air's top ten clients account for 26% of total sales, with short-term contracts posing significant customer concentration risks, while Old Dominion Freight Line's largest client contributes only 4% of revenue, showcasing stronger customer diversification and resilience against partner loss.
  • Cash Flow and Profitability: Old Dominion Freight Line generated approximately $5.5 billion in revenue for FY 2025, down 5.5% from the previous year, yet maintained a net income close to $1 billion with a net margin of 18.6%, demonstrating stability and operational efficiency amid economic fluctuations.
  • Market Competition and Strategic Choices: Forward Air faces intense competition from UPS and FedEx, with a substantial debt load of over $1.7 billion limiting its expansion capabilities, whereas Old Dominion, with its debt-free financial profile and stable market demand, emerges as a more attractive long-term investment option.
Fool
6.5
06-12Fool
Investment Choices in the Logistics Sector
  • Forward Air Financial Overview: In FY 2025, Forward Air reported nearly $2.5 billion in revenue, a slight increase of approximately 0.8%, despite a net loss of about $107.8 million, resulting in a net margin of -4.3%, indicating ongoing efforts to improve profitability.
  • Old Dominion Performance: Old Dominion Freight Line generated approximately $5.5 billion in revenue during FY 2025, a decrease of 5.5% year-over-year, yet it maintained a net income close to $1.0 billion with a robust net margin of 18.6%, showcasing resilience amid economic fluctuations.
  • Risk Comparison: Forward Air faces risks from labor regulations that could reclassify independent contractors as employees, significantly increasing costs, while Old Dominion is sensitive to diesel prices and economic shifts, although its diversified customer base mitigates the risk of losing any single client.
  • Valuation Differences: Old Dominion carries a forward P/E ratio of 44.9x and a P/S ratio of 9.2x, both higher than Forward Air, reflecting its superior profitability and debt-free balance sheet, although this premium pricing implies higher risk for investors.
Globenewswire
7.0
05-26Globenewswire
Forward Air Under Investigation for Securities Fraud Claims
  • Declining Financial Performance: Forward Air reported Q1 2026 revenues of $582 million, down 5.1% from $613.3 million in the previous year, indicating significant market pressure and risks to profitability.
  • Significant Net Loss: The company disclosed a net loss of $40.2 million, translating to a diluted loss of $1.09 per share, reflecting severe impacts on financial health amid customer attrition and intensified market competition.
  • Customer Attrition Risk: Forward Air is in discussions with its largest customer, which accounted for approximately $250 million in revenue for FY 2025; if business is transitioned to other providers, it could severely impact future revenues and exacerbate financial difficulties.
  • Unsuccessful Strategic Alternatives: Despite extensive negotiations for strategic alternatives, no actionable acquisition proposals were received due to changing customer relationships, highlighting the company's vulnerable position and future uncertainties.
Globenewswire
7.0
05-22Globenewswire
Forward Air Under Investigation for Securities Violations
  • Declining Financial Performance: Forward Air reported Q1 2026 operating revenues of $582 million, down 5.1% from $613.3 million in the previous year, indicating significant pressure in market competition that could undermine investor confidence moving forward.
  • Significant Net Loss: The company disclosed a net loss of $40.2 million, translating to a diluted loss of $1.09 per share, which may raise investor concerns regarding management effectiveness and exacerbate market anxiety.
  • Customer Attrition Risk: Forward Air is currently in discussions with one of its largest customers regarding a transition that could affect approximately $250 million in annual revenue, posing a substantial threat to future income and the company's market position.
  • Limited Strategic Options: Despite extensive negotiations for strategic alternatives, the company failed to receive actionable acquisition proposals due to evolving customer relationships, highlighting vulnerabilities in its current market strategy and potential long-term growth challenges.
Globenewswire
7.0
05-20Globenewswire
Forward Air Under Investigation Amid 43.05% Stock Plunge Following Q1 Losses
  • Declining Financial Performance: Forward Air reported Q1 2026 revenues of $582 million, a 5.1% decrease year-over-year, indicating significant pressure in market competition that could undermine investor confidence moving forward.
  • Significant Net Loss: The company disclosed a net loss of $40.2 million, translating to a diluted loss of $1.09 per share, reflecting operational challenges that may erode shareholder trust in management.
  • Customer Loss Risk: Forward Air is in discussions with its largest customer, which accounted for approximately $250 million of revenue in FY 2025; if business is transitioned to competitors, it could severely impact the company's financial stability.
  • Unsuccessful Strategic Review: Despite extensive negotiations for strategic alternatives, no actionable acquisition proposals were received due to evolving customer relationships, highlighting uncertainty in the company's market position and diminishing acquisition appeal.
Globenewswire
7.0
05-19Globenewswire
Forward Air Faces Investor Lawsuit Investigation
  • Declining Financial Performance: Forward Air reported first-quarter 2026 operating revenues of $582 million, a 5.1% decrease year-over-year, indicating significant market pressure that could undermine investor confidence moving forward.
  • Significant Net Loss: The company disclosed a net loss of $40.2 million, translating to a diluted loss of $1.09 per share, which may erode investor trust in management and negatively impact stock performance.
  • Customer Relationship Crisis: Forward Air is in discussions with its largest customer regarding the transition of business, which accounted for approximately $250 million in revenue for fiscal year 2025, creating uncertainty in future revenues and heightening investor concerns.
  • Unsuccessful Strategic Review: Despite extensive negotiations for strategic alternatives, the company received no actionable acquisition proposals due to the evolving customer relationship, suggesting a lack of competitive strength in the market that could hinder long-term strategic goals.
Wall Street analysts forecast FWRD stock price to rise
3 Analyst Rating
Wall Street analysts forecast FWRD stock price to rise
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 0.000
sliders
Low
32.00
Averages
38.50
High
45.00
Current: 0.000
sliders
Low
32.00
Averages
38.50
High
45.00
Susquehanna
Positive
to
NULL
downgrade
$42 -> $18
AI Analysis
2026-05-08
Reason
Susquehanna
Price Target
$42 -> $18
AI Analysis
2026-05-08
downgrade
Positive
to
NULL
Reason
Susquehanna lowered the firm's price target on Forward Air to $18 from $42 and keeps a Positive rating on the shares. The firm updated its model following its announcement that a major cutomer would be leaving.
Stifel
Buy
to
Buy
downgrade
$30 -> $17
2026-05-08
Reason
Stifel
Price Target
$30 -> $17
2026-05-08
downgrade
Buy
to
Buy
Reason
Stifel lowered the firm's price target on Forward Air to $17 from $30 and keeps a Buy rating on the shares.
Unlock Full Analyst Thesis, Get the complete breakdown of rating reason for FWRD
Unlock Now

Valuation Metrics

The current forward P/E ratio for Forward Air Corp (Delaware) (FWRD.O) is 19.92, compared to its 5-year average forward P/E of 35.05. For a more detailed relative valuation and DCF analysis to assess Forward Air Corp (Delaware)'s fair value, Click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
N/A
5Y Average PE
35.05
Current PE
19.92
Overvalued PE
337.53
Undervalued PE
-267.43

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
5Y Average EV/EBITDA
9.89
Current EV/EBITDA
9.38
Overvalued EV/EBITDA
12.27
Undervalued EV/EBITDA
7.51

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.
StronglyUndervaluedUndervaluedFairOvervaluedStronglyOvervalueddotted line Image
5Y Average PS
0.83
Current PS
0.15
Overvalued PS
1.40
Undervalued PS
0.26

Financials

AI Analysis
Annual
Quarterly

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Whales Holding FWRD

P
Paralel Advisors LLC
Holding
FWRD
+5.60%
3M Return
T
The Carlyle Group Inc.
Holding
FWRD
-8.38%
3M Return

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Frequently Asked Questions

What is Forward Air Corp (Delaware) (FWRD) stock price today?

The current price of FWRD is 13.33 USD — it has increased 6.05

What is Forward Air Corp (Delaware) (FWRD)'s business?

Forward Air Corporation is an asset-light provider of transportation services across the United States, Canada and Mexico. Its Expedited Freight segment provides expedited regional, inter-regional and national less-than-truckload (LTL) services. Expedited Freight also offers customers local pick-up and delivery and other services including truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage and other handling. The Omni Logistics segment provides a full suite of global logistics services. Services include air and ocean freight consolidation and forwarding, customs brokerage, warehousing and distribution, time-definite transportation services and other supply chain solutions. The Intermodal segment provides first- and last-mile high-value intermodal container drayage services both to and from seaports and railheads. Intermodal also offers dedicated contract and CFS warehouse and handling services, and in select locations, linehaul and LTL services.

What is the price predicton of FWRD Stock?

Wall Street analysts forecast FWRD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FWRD is38.50 USD with a low forecast of 32.00 USD and a high forecast of 45.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

What is Forward Air Corp (Delaware) (FWRD)'s revenue for the last quarter?

Forward Air Corp (Delaware) revenue for the last quarter amounts to 582.05M USD, decreased -5.09

What is Forward Air Corp (Delaware) (FWRD)'s earnings per share (EPS) for the last quarter?

Forward Air Corp (Delaware). EPS for the last quarter amounts to -1.09 USD, decreased -35.12

How many employees does Forward Air Corp (Delaware) (FWRD). have?

Forward Air Corp (Delaware) (FWRD) has 6062 emplpoyees as of June 15 2026.

What is Forward Air Corp (Delaware) (FWRD) market cap?

Today FWRD has the market capitalization of 421.56M USD.