FWRD

Forward Air Corp (Delaware)

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Advanced Chart

18.010

-0.8(-4.253%)1D

Line

Candle

YTD

High

18.710

Open

18.710

VWAP

18.13

Vol

669.07K

Mkt Cap

554.56M

Low

17.820

Amount

12.13M

EV/EBITDA(TTM)

10.05

Total Shares

26.44M

2.27B

EV/OCF(TTM)

53.63

P/S(TTM)

0.22

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.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2026Q1

FY2025Q4

FY2025Q3

636.90M

+3.85%

-0.080

-92.93%

637.13M

+0.68%

-0.174

-93.95%

639.91M

-2.44%

-0.120

-91.93%

Estimates Revision

The market is revising Upward the revenue expectations for Forward Air Corporation (FWRD) for FY2025, with the revenue forecasts being adjusted by 0.6% over the past three months. During the same period, the stock price has changed by -38.87%.

Revenue Estimates for FY2025

Revise Upward

+0.6%

In Past 3 Month

EPS Estimates for FY2025

Revise Downward

-7.51%

In Past 3 Month

Stock Price

Go Down

-38.87%

In Past 3 Month

3 Analyst Rating

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 is 36.50 USD with a low forecast of 30.00 USD and a high forecast of 43.00 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.

2 Buy

1 Hold

0 Sell

Moderate Buy

Current: 18.010

Low

30.00

Averages

36.50

High

43.00

Current: 18.010

Low

30.00

Averages

36.50

High

43.00

Stifel

Buy

maintain

$32 -> $30

2025-10-17

Reason

Stifel

Price Target

$32 -> $30

2025-10-17

maintain

Buy

Reason

Stifel lowered the firm's price target on Forward Air to $30 from $32 and keeps a Buy rating on the shares. The firm ascribes the stock having traded off in the past few weeks to waning confidence in a protracted sale process and to macro pressure amid rekindled U.S.-China trade tensions. However, the firm is "generally constructive on the unique opportunity" and still believes an imminent take-private or sale event is likely, the analyst tells investors.

Susquehanna

Positive

maintain

$40 -> $43

2025-08-12

Reason

Susquehanna

Price Target

$40 -> $43

2025-08-12

maintain

Positive

Reason

Susquehanna raised the firm's price target on Forward Air to $43 from $40 and keeps a Positive rating on the shares. The firm noted cyclical rsik remains given its roughly breakeven free cash flow and level of Q4 net debt/EBITDA but they believe a sale of the business is the most likely outcome for it to reach its price target.

Stifel

Buy

maintain

$29 -> $33

2025-07-24

Reason

Stifel

Price Target

$29 -> $33

2025-07-24

maintain

Buy

Reason

Stifel raised the firm's price target on Forward Air to $33 from $29 and keeps a Buy rating on the shares. Less-Than-Truckload stocks have appreciated as valuations have expanded, notes the analyst, whose channel checks indicate that trends through June "remained sub-seasonal, but stable." Q2 is typically a seasonally stronger quarter for LTL margins, but the firm remains cautious due to the choppy demand backdrop, although core pricing "still seems solid," the analyst added in an earning preview for the group.

Stifel

Hold

Buy

upgrade

$21 -> $29

2025-06-26

Reason

Stifel

Price Target

$21 -> $29

2025-06-26

upgrade

Hold

Buy

Reason

Stifel

Hold

downgrade

$22 -> $21

2025-05-09

Reason

Stifel

Price Target

$22 -> $21

2025-05-09

downgrade

Hold

Reason

Stifel

J. Bruce Chan

Hold

Maintains

$29 → $22

2025-04-10

Reason

Stifel

J. Bruce Chan

Price Target

$29 → $22

2025-04-10

Maintains

Hold

Reason

See All Ratings

Valuation Metrics

The current forward P/E ratio for Forward Air Corp (Delaware) (FWRD.O) is -63.42, compared to its 5-year average forward P/E of 38.13. For a more detailed relative valuation and DCF analysis to assess Forward Air Corp (Delaware) 's fair value, click here.

Forward PE
Forward EV/EBITDA
Forward PS

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.

N/A

5Y Average PE

38.13

Current PE

-63.42

Overvalued PE

340.42

Undervalued PE

-264.15

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.

N/A

5Y Average EV/EBITDA

10.15

Current EV/EBITDA

0.00

Overvalued EV/EBITDA

12.65

Undervalued EV/EBITDA

7.64

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.

N/A

5Y Average PS

1.08

Current PS

18.01

Overvalued PS

2.44

Undervalued PS

-0.29