FWRD logo

FORWARD AIR CORP

FWRDNASDAQ
🏆 #2958 by market capEarnings Nov 3US Equity
$15.02▼ $0.23 (−1.51%)
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24h▼ 1.5%
7d▼ 0.3%
14d▼ 3.3%
30d▼ 11.7%
ytd▼ 40.0%
1y▼ 41.4%
🏦Market Cap
$475M
Small Cap
📈Revenue Growth (YoY)
-0.1%
Declining
📊Gross Margin
41.1%
Healthy
💵FCF Margin
3.5%
Moderate
⚖️P/S Ratio
0.2x
Cheap
Otter Score
72
Fair

Trading Snapshot

Day Range
$14.85 – $15.17
52-Week Range
$7.86 – $31.18
Volume
$2.11B
Avg Volume
$2.23B
Shares Outstanding
31.6M
Next Earnings
Nov 16, 2026

Fundamentals Snapshot

Annual Revenue
$2.50B
Last Q Revenue
$673M
P/E Ratio
—
P/S Ratio
0.2x
EPS (TTM)
$-8.90
Dividend Yield
0.00%
Dilution (1yr)
+5.5%

Why Investors Own FWRD

  • ✓High-growth profile — revenue up +59.2% YoY with expanding US Equity exposure.
  • ✓Healthy economics — 28% gross margin and 20% free-cash-flow margin.
  • ✓New products and segments could unlock additional revenue streams.
⚠️ Key Risks

Execution delays, intensifying competition, and valuation compression if growth decelerates.

FWRD logo

FORWARD AIR CORP

FWRD
Financial Trends
RevenueThe total money the company brought in from sales, before subtracting any costs.
$2.5B▲ +0.8% YoY
Gross MarginOf every $1 of sales, how much is left after the direct cost of making the product/service. Higher = more efficient.
20.5%▲ +49.2% YoY
Operating IncomeProfit from the core business after operating costs, but before interest and taxes. Negative means the core business isn’t profitable yet.
$36M▼ −103.4% YoY
Free Cash FlowCash left over after running the business and paying for equipment/capex. Negative means the company is burning cash.
$15M▼ −113.6% YoY
Shares OutstandingHow many shares exist. Rising means the company is issuing more shares, which dilutes (shrinks) each existing owner’s slice.
31.0M▲ +5.5% YoY
Net CashCash minus total debt. Positive = more cash than debt (financially strong); negative = more debt than cash (net debt).
−$2.1B▼ −$13M YoY
StockOtter · stockotter.space

About FORWARD AIR CORP

Forward Air Corporation, including its various subsidiaries, functions as a streamlined transportation and logistics enterprise throughout the United States and Canada, operating with an asset-light model. The company's business is structured into two principal divisions: Expedited Freight and Intermodal. The Expedited Freight segment delivers time-sensitive regional, inter-regional, and national less-than-truckload (LTL) services, complemented by local collection and delivery capabilities. This comprehensive segment also extends to final-mile services, full truckload transport, cargo consolidation and deconsolidation, storage solutions, customs brokerage, and general freight handling. Furthermore, it encompasses expedited truckload brokerage, dedicated fleet operations, and specialized logistics for high-security or temperature-sensitive goods. The Intermodal segment primarily focuses on drayage services for intermodal containers. It also provides contract warehousing as well as container freight station (CFS) warehousing and related handling services. Forward Air caters to a diverse customer base, which includes freight forwarders, third-party logistics (3PL) providers, integrated air cargo companies, both passenger and cargo airlines, ocean carriers, and retailers. Founded in 1981, Forward Air Corporation is based in Greeneville, Tennessee.

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Otter Score Breakdown

How it's scoredFive components, each rated 1–5★ and equally weighted (20%), averaged to a 0–100 score:💎 Quality — gross margin🚀 Growth — revenue YoY⚖️ Valuation — P/S ratio⚡ Momentum — 30-day price change💧 Dilution — 1-yr share issuance (buybacks score higher)
💎Quality★★★★★
🚀Growth★★★★★
⚖️Valuation★★★★★
⚡Momentum★★★★★
💧Dilution★★★★★
Overall Score
Fair
72/100

Analyst Price Target

ⓘ
Average Target
$18.62
▲ +24.0% Upside
High Target$20.38
Low Target$16.45
Based on 15 analysts

Latest News & Updates

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Barron’s·2h ago

FORWARD AIR CORP tops quarterly estimates as demand accelerates

Revenue grew double digits with management guiding above consensus; margins continued to expand.

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Barron’s·5h ago

Analysts lift FWRD price targets on improving margins

Several firms raised targets, citing stronger free cash flow and a healthier backlog.

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Reuters·1d ago

FORWARD AIR CORP announces new agreement to expand its footprint

The move broadens the company’s reach and could add incremental revenue over the next year.