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Home CompaniesForward Air Corporation

Forward Air Corporation

Industrials Integrated Freight & Logistics
PortfolioPortfolio WatchlistWatchlist
Company price
17.37 USD 0.13 ( 0.75%)
Last update at 2026-11-12T15:43:00Z
VOLUME
32221
Market Cap
728.90M

Momentum Score

…

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States, Mexico, Europe, Asia, and Canada. The company operates through three segments: Expedited Freight, Omni Logistics, and Intermodal. Its 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 shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. This segment offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Omni Logistics segment offers full suite of global logistics services, such as air and ocean freight consolidation and forwarding, customs brokerage, warehousing and distribution, value-added services, time-definite transportation services, and other supply chain solutions. Its Intermodal segment provides intermodal container drayage services; and contract and container freight station warehouse and handling services. The company serves freight forwarders, third-party logistics companies, integrated air cargo carriers and passenger, passenger and cargo airlines, steamship lines, and retailers. Forward Air Corporation was incorporated in 1981 and is headquartered in Dallas, Texas.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
17.05
Low
17.51
High
52 Week Price Range
13.61
Low
32.47
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Forward Air Corporation operates an asset-light network providing expedited ground transportation, intermodal drayage and logistics services across North America. Long-term growth drivers include rising e-commerce volumes, greater rail-to-truck intermodal use and network density that could support pricing and margins; investors may find the company attractive for its specialized premium service niche and established service center footprint.

Material risks include cyclicality in freight volumes, pricing pressure from carriers and third-party logistics providers, fuel and labor cost inflation and execution risk as the company expands its network.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
17.24
Dividend Yield
-
Revenue TTM
2495.12M
Revenue Per Share
81.23
Gross Profit TTM
490.82M
Debt / Equity
19.05
ROE
-63.34%
Net Debt
2053.67M
ROCE
1.45%
Diluted EPS TTM
-3.51

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax -147.20M -1249.83M 56.64M 260.84M 154.96M
Minority interest 33.93M 314.26M 0.00M - -
Net income -107.80M -816.97M 167.35M 193.19M 105.86M
Selling general administrative 58.97M 64.68M 50.13M 49.76M 42.19M
Selling and marketing expenses - - 45.04M - -
Gross profit 510.94M 339.65M 330.15M 546.82M 365.33M
Reconciled depreciation 152.64M 143.98M 57.41M 47.39M 39.55M
Ebit 33.55M -1060.62M 88.21M 265.98M 159.30M
Ebitda 186.19M -916.64M 145.62M 313.36M 198.85M
Depreciation and amortization 152.64M 143.98M 57.41M 47.39M 39.55M
Operating income 36.42M -1062.94M 88.21M 265.98M 159.30M
Other operating expenses 2458.69M 3537.20M 1282.53M 1707.43M 1503.13M
Interest expense 180.75M 189.22M 31.57M 5.14M 4.34M
Tax provision -5.47M -124.99M 13.84M 67.65M 38.87M
Net interest income -180.75M -189.22M -31.57M -5.14M -4.34M
Income tax expense -5.47M -124.99M 13.84M 67.65M 38.87M
Total revenue 2495.12M 2474.26M 1370.73M 1973.40M 1662.43M
Total operating expenses 474.51M 1402.59M 241.94M 280.85M 206.03M
Cost of revenue 1984.18M 2134.61M 1040.58M 1426.58M 1297.10M
Total other income expense net -183.62M -186.90M -31.57M -5.14M -4.34M
Discontinued operations - - - - -10.23M
Net income from continuing ops -141.72M -1124.84M 42.80M 193.19M 116.09M
Net income applicable to common shares - - - 193.19M 105.86M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 2744.81M 2802.64M 3041.08M 1208.08M 1117.82M
Intangible assets 906.79M 999.22M 134.79M 154.80M 154.72M
Other current assets 65.30M 45.10M 26.78M 37.47M 29.31M
Total liab 2583.14M 2516.77M 2276.82M 500.83M 524.17M
Total stockholder equity 113.34M 201.73M 764.26M 707.24M 593.65M
Deferred long term liab - - - 51.09M 43.41M
Other current liab 170.37M 149.14M 103.48M 7.15M 4.61M
Common stock 0.31M 0.30M 0.26M 0.27M 0.27M
Capital stock 0.31M 0.30M 0.26M 0.27M 0.27M
Retained earnings -447.10M -338.23M 480.32M 436.12M 334.91M
Other liab - - - 110.14M 93.03M
Good will 522.71M 522.71M 278.71M 306.18M 266.75M
Other assets - - - 51.83M 0.00M
Cash 106.00M 104.90M 161.57M 45.82M 37.32M
Total current liabilities 428.32M 384.05M 237.09M 169.40M 164.69M
Current deferred revenue 13.18M 9.90M 31.19M 51.09M 61.62M
Net debt 2053.67M 2040.89M 1784.25M 232.03M 282.75M
Short term debt 123.02M 113.37M 56.99M 56.55M 53.62M
Short long term debt - - 12.64M 9.44M 6.09M
Short long term debt total 2159.67M 2145.80M 1945.82M 277.85M 320.07M
Other stockholder equity 559.55M 542.39M 283.68M 270.86M 258.47M
Property plant equipment - - - 249.08M 367.29M
Total current assets 521.00M 472.50M 347.03M 304.31M 282.81M
Net tangible assets - - - 821.95M 172.19M
Net receivables 349.71M 322.50M 158.68M 221.03M 216.18M
Long term debt 1687.25M 1675.93M 1790.50M 106.59M 165.04M
Accounts payable 121.75M 105.69M 45.43M 54.60M 44.84M
Accumulated other comprehensive income 0.58M -2.73M - - -
Common stock total equity - - - 0.27M 0.27M
Retained earnings total equity - - - 436.12M 334.91M
Non currrent assets other 83.89M 71.94M 58.86M 0.74M 46.25M
Non current assets total 2223.80M 2330.14M 2694.05M 903.76M 835.02M
Capital lease obligations 472.42M 469.87M 142.68M 161.81M 148.94M
Long term debt total - - - 106.59M 155.47M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - -1608.59M 174.84M -104.46M -88.31M
Change to liabilities - - - 12.57M 17.18M
Total cashflows from investing activities -26.91M -1608.59M 174.84M -104.46M -88.31M
Net borrowings -17.30M -98.42M 1672.50M -49.00M 42.58M
Total cash from financing activities -17.53M -163.83M 1550.03M -146.12M -34.89M
Change to operating activities - - - -4.85M -16.10M
Net income -107.80M -1124.84M 42.80M 193.19M 116.09M
Change in cash 0.73M -1846.81M 1906.25M 8.51M -2.94M
Begin period cash flow 105.27M 1952.07M 45.82M 37.32M 40.25M
End period cash flow 106.00M 105.27M 1952.07M 45.82M 37.32M
Total cash from operating activities 44.38M -75.40M 181.39M 259.09M 120.26M
Depreciation 152.64M 143.98M 57.41M 47.39M 39.55M
Other cashflows from investing activities - 4.69M 258.52M -63.73M 8.02M
Dividends paid 0.00M 0.00M 25.00M -25.86M -22.98M
Change to account receivables -25.37M 19.22M 25.15M -19.13M -52.68M
Sale purchase of stock 0.85M 0.75M -93.81M -62.77M -48.99M
Other cashflows from financing activities -1.07M -66.16M -3.67M -2.64M -6.73M
Change to netincome - - - 29.91M 26.45M
Capital expenditures 29.12M 37.06M 30.73M 40.73M 39.11M
Change receivables - - - -11.03M -60.78M
Cash flows other operating - - - 180.25M 108.09M
Cash and cash equivalents changes - - - 8.51M -2.94M
Change in working capital -3.53M -11.78M 92.49M -11.40M -51.60M
Stock based compensation 13.43M 10.19M 11.49M 11.38M 10.91M
Other non cash items 0.59M 1040.56M -13.91M 10.85M 3.89M
Free cash flow 15.27M -112.46M 150.66M 218.36M 81.15M

Peer Comparison*

Sector: Industrials Industry: Integrated Freight & Logistics

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
FWRD
Forward Air Corporation		 0.13
0.75%		 17.37 - 19.92 0.29 6.43 1.12 14.95
FDX
FedEx Corporation		 1.56
0.48%		 324.19 21.06 17.86 1.02 3.16 1.39 11.61
UPS
United Parcel Service Inc		 0.26
0.23%		 112.71 19.06 12.89 0.97 5.79 1.24 10.27
DHLGY
Deutsche Post AG		 0.13
0.39%		 33.49 16.10 15.72 0.78 2.52 0.95 7.03
DSDVY
DSV Panalpina A/S ADR		 1.06
0.97%		 110.03 48.35 24.63 0.26 3.46 1.99 20.03

Profile*

Forward Air Corporation

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States, Mexico, Europe, Asia, and Canada. The company operates through three segments: Expedited Freight, Omni Logistics, and Intermodal. Its 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 shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. This segment offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Omni Logistics segment offers full suite of global logistics services, such as air and ocean freight consolidation and forwarding, customs brokerage, warehousing and distribution, value-added services, time-definite transportation services, and other supply chain solutions. Its Intermodal segment provides intermodal container drayage services; and contract and container freight station warehouse and handling services. The company serves freight forwarders, third-party logistics companies, integrated air cargo carriers and passenger, passenger and cargo airlines, steamship lines, and retailers. Forward Air Corporation was incorporated in 1981 and is headquartered in Dallas, Texas.

3200 Olympus Boulevard, Dallas, TX, United States, 75019

817 552 5270

https://www.forwardair.com

6062

Name Title Year Born
Mr. Thomas Schmitt Pres, CEO & Exec. Chairman 1965
Ms. Rebecca J. Garbrick CFO & Treasurer 1976
Mr. Chris C. Ruble Chief Operating Officer 1963
Mr. Michael L. Hance Chief Legal Officer & Sec. 1972
Mr. Joseph Michael Tomasello Chief Information Officer NA
Mr. Kyle R. Mitchin Chief People Officer NA
Mr. Matthew J. Jewell Consultant 1966
Ms. Nancee Ronning Chief Commercial Officer NA
Sandi Underwood Assistant Corp. Sec. NA
Mr. Michael L. Hance Interim CEO, Chief Legal Officer & Secretary 1972

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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