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Forward Air Corporation

$16.69 -$8.44 (-33.59%)
NASDAQ · 14 Sep 2026 20:00 UTC
Previous Close
$16.63
Day Range
$15.96$16.71
Year Range
$7.86$31.18
Market Cap
527.82M
AVG Volume
1.16M
Trailing/Forward PE
-1.87/70.72
PEG ratio
0.01
Dividend Yield
-
Next Earnings Date
2026-11-04
Primary Exchange
NASDAQUS
Revenue (USD)
01B2B3B2016201720182019202020212022202320242025
FWRD Revenue (USD) by year
PeriodRevenue (USD)
20252.5B
20242.47B
20231.16B
20221.97B
20211.66B
20201.27B
20191.41B
20181.32B
20171.1B
2016982.53M
Net Income (USD)
-1B-500M0500M2016201720182019202020212022202320242025
FWRD Net Income (USD) by year
PeriodNet Income (USD)
2025-107.8M
2024-816.97M
2023167.35M
2022193.19M
2021105.86M
202023.73M
201987.1M
201892.05M
201787.32M
201627.67M
Operating Income (USD)
-1.5B-1B-500M0500M2016201720182019202020212022202320242025
FWRD Operating Income (USD) by year
PeriodOperating Income (USD)
202536.42M
2024-1.13B
202381.01M
2022265.98M
2021159.3M
202073.92M
2019118.82M
2018122.03M
2017108.67M
201659.98M
EBITDA (USD)
-1B-500M0500M2016201720182019202020212022202320242025
FWRD EBITDA (USD) by year
PeriodEBITDA (USD)
2025186.19M
2024-916.64M
2023130.78M
2022313.36M
2021198.85M
2020111.04M
2019160.93M
2018164.21M
2017149.72M
2016103.31M
Cash Flows (USD)
-200M-100M0100M200M300M2016201720182019202020212022202320242025
FWRD Cash Flows (USD) by year
PeriodCash Flows (USD)
202515.27M
2024-112.46M
2023151.73M
2022218.36M
202181.15M
202073.01M
2019130.81M
2018110.26M
201765.1M
201688.16M
EPS (USD)
-40-30-20-100102016201720182019202020212022202320242025
FWRD EPS (USD) by year
PeriodEPS (USD)
2025-3.52
2024-30.76
20230.39
20227.17
20213.85
20200.84
20193.05
20183.13
20172.89
20160.91
Expenses (USD)
050M100M150MR&DSG&ACapex2016201720182019202020212022202320242025
FWRD Expenses (USD) by year
PeriodExpenses (USD)
202575.37M
2024101.74M
202378.01M
202290.49M
202181.3M
202054.66M
201976.11M
201879.38M
201769.66M
201669.24M
Cash & Debt (USD)
0500M1B1.5B2BCashLong Term DebtShort Term Debt2016201720182019202020212022202320242025
FWRD Cash & Debt (USD) by year
PeriodCash & Debt (USD)
2025106M
2024104.9M
2023121.97M
202245.82M
202137.32M
202040.25M
201964.75M
201825.66M
20173.89M
20168.51M
Debt ratios
-7.5-5-2.502.520182019202020212022202320242025
FWRD Debt ratios by year
PeriodDebt ratios
2025-7.17
2024-7.46
20232.44
20220.28
20210.45
20200.35
20190.2
20180.04
Margins
0%10%20%30%2016201720182019202020212022202320242025
FWRD Margins by year
PeriodMargins
202512.08%
202413.73%
202325.3%
202227.71%
202121.98%
202018.05%
201920.41%
201820.14%
201721.49%
201621.91%
Return on Capital
-300%-200%-100%0%100%2016201720182019202020212022202320242025
FWRD Return on Capital by year
PeriodReturn on Capital
2025-66.68%
2024-285.79%
202321.9%
202227.32%
202117.83%
20204.34%
201915.09%
201816.64%
201716.37%
20165.54%
Shares Outstanding
010M20M30M40M2016201720182019202020212022202320242025
FWRD Shares Outstanding by year
PeriodShares Outstanding
202530.97M
202429.37M
202325.67M
202226.51M
202126.97M
202026.14M
201928.1M
201828.81M
201729.49M
201630.25M
Dividends (USD)
00.250.50.7512014201520162017201820192020202120222023
FWRD Dividends (USD) by year
PeriodDividends (USD)
20230.96
20220.96
20210.84
20200.75
20190.72
20180.63
20170.6
20160.51
20150.48
20140.48
Employee Count
02K4K6K8K2016201720182019202020212022202320242025
FWRD Employee Count by year
PeriodEmployee Count
20256.06K
20246.32K
20234.01K
20224.16K
20214.04K
20203.77K
20194.64K
20184.36K
20173.86K
20163.69K
Book Value Per Share (USD)
01020302016201720182019202020212022202320242025
FWRD Book Value Per Share (USD) by year
PeriodBook Value Per Share (USD)
20255.22
20249.73
202329.77
202226.68
202122.01
202020.94
201920.54
201819.2
201718.09
201616.5
Total Assets (USD)
01B2B3B2016201720182019202020212022202320242025
FWRD Total Assets (USD) by year
PeriodTotal Assets (USD)
20252.74B
20242.8B
20232.98B
20221.21B
20211.12B
20201.05B
2019990.88M
2018760.22M
2017687.72M
2016641.29M
PE Ratio
05101520med 14.11Nov 22Feb 23Jun 23Sep 23Jan 24Apr 24Aug 24
FWRD PE Ratio by year
PeriodPE Ratio
Aug 248.33
Jul 249.86
Jul 249.58
Jul 248.95
Jul 247.12
Jun 247.22
Jun 247.65
Jun 247.92
Jun 247.84
May 246.37
May 244.67
May 245.41
May 242.37
May 243.34
Apr 243.42
Apr 243.65
Apr 243.92
Apr 244.32
Mar 244.77
Mar 244.47
Mar 244.3
Mar 247.2
Mar 247.58
Feb 249.49
Feb 249.3
Feb 249.81
Feb 2410.34
Jan 2411.02
Jan 2412.14
Jan 2413.34
Jan 2414.78
Dec 2314.88
Dec 2315.53
Dec 2315.16
Dec 2315.04
Dec 2315.52
Nov 2315.39
Nov 2315.58
Nov 2315.29
Nov 2311.35
Oct 2312.05
Oct 2312.94
Oct 2312.34
Oct 2312.23
Sep 2311.78
Sep 2311.25
Sep 2311.85
Sep 2311.95
Sep 2312.29
Aug 2312.2
Aug 2311.06
Aug 2313.3
Aug 2315.56
Jul 2316.81
Jul 2316.64
Jul 2315.27
Jul 2314.91
Jun 2314.96
Jun 2314.03
Jun 2314.74
Jun 2314.38
Jun 2314.31
May 2313.85
May 2313.89
May 2313.53
May 2313.35
Apr 2314.48
Apr 2315.13
Apr 2315.14
Apr 2314.09
Mar 2314.79
Mar 2314.07
Mar 2314.15
Mar 2314.45
Mar 2314.73
Feb 2314.86
Feb 2315.07
Feb 2314.13
Feb 2315.86
Jan 2314.82
Jan 2314.2
Jan 2314.26
Jan 2314.75
Dec 2214.72
Dec 2214.79
Dec 2214.77
Dec 2214.91
Dec 2215.68
Nov 2215.53
Nov 2215.53
Nov 2216.13
Nov 2217.45
Oct 2217.32
Oct 2215.96
Oct 2216.14
Oct 2215.9
Sep 2214.96
Sep 2214.84
Sep 2215.17
Sep 2216.24
Free Cash Flow Yield
-40%-20%0%20%med 0.86%Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
FWRD Free Cash Flow Yield by year
PeriodFree Cash Flow Yield
Sep 268.93%
Sep 268.3%
Aug 268.74%
Aug 268.2%
Aug 267.83%
Aug 267.67%
Jul 268.81%
Jul 268.12%
Jul 269.01%
Jul 269.25%
Jul 269.21%
Jun 268.33%
Jun 269.09%
Jun 269.29%
Jun 2611.95%
May 2611.7%
May 2614.07%
May 2614.14%
May 264.99%
May 262.31%
Apr 262.1%
Apr 262.22%
Apr 262.58%
Apr 262.83%
Mar 263.04%
Mar 263.19%
Mar 263.12%
Mar 262.28%
Feb 261.98%
Feb 261.8%
Feb 261.86%
Feb 261.67%
Jan 261.79%
Jan 261.8%
Jan 261.75%
Jan 261.85%
Jan 261.99%
Dec 251.96%
Dec 252%
Dec 251.96%
Dec 251.93%
Nov 252.18%
Nov 252.45%
Nov 252.36%
Nov 252.39%
Oct 251.13%
Oct 251.08%
Oct 251.06%
Oct 250.94%
Oct 250.91%
Sep 250.8%
Sep 250.82%
Sep 250.73%
Sep 250.72%
Aug 250.71%
Aug 250.69%
Aug 250.72%
Aug 25-4.39%
Aug 25-4.55%
Jul 25-4.13%
Jul 25-4.95%
Jul 25-4.85%
Jul 25-5.01%
Jun 25-5.28%
Jun 25-5.98%
Jun 25-6.57%
Jun 25-7.1%
May 25-7.91%
May 25-7.9%
May 25-6.92%
May 25-8.13%
May 25-21.61%
Apr 25-26.19%
Apr 25-24.5%
Apr 25-28.32%
Apr 25-29.19%
Mar 25-18.48%
Mar 25-11.27%
Mar 25-11.99%
Mar 25-11.57%
Feb 25-10.66%
Feb 25-8.58%
Feb 25-7.82%
Feb 25-7.43%
Jan 25-7.43%
Jan 25-7.15%
Jan 25-7.07%
Jan 25-7.43%
Jan 25-7.18%
Dec 24-7.95%
Dec 24-8.28%
Dec 24-7.3%
Dec 24-7.07%
Nov 24-6.53%
Nov 24-6.68%
Nov 24-6.94%
Nov 24-6.77%
Nov 24-8.93%
Oct 24-8.29%
Oct 24-7.71%
Price to Sales
00.20.40.60.8med 0.29Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
FWRD Price to Sales by year
PeriodPrice to Sales
Sep 260.21
Sep 260.23
Aug 260.22
Aug 260.23
Aug 260.24
Aug 260.25
Jul 260.18
Jul 260.19
Jul 260.17
Jul 260.17
Jul 260.17
Jun 260.19
Jun 260.17
Jun 260.17
Jun 260.13
May 260.13
May 260.11
May 260.11
May 260.12
May 260.26
Apr 260.29
Apr 260.28
Apr 260.24
Apr 260.22
Mar 260.2
Mar 260.19
Mar 260.2
Mar 260.27
Feb 260.31
Feb 260.35
Feb 260.33
Feb 260.37
Jan 260.35
Jan 260.34
Jan 260.35
Jan 260.34
Jan 260.31
Dec 250.32
Dec 250.31
Dec 250.32
Dec 250.32
Nov 250.28
Nov 250.25
Nov 250.26
Nov 250.26
Oct 250.23
Oct 250.24
Oct 250.24
Oct 250.27
Oct 250.28
Sep 250.32
Sep 250.31
Sep 250.35
Sep 250.36
Aug 250.36
Aug 250.37
Aug 250.36
Aug 250.36
Aug 250.35
Jul 250.38
Jul 250.32
Jul 250.32
Jul 250.31
Jun 250.3
Jun 250.26
Jun 250.24
Jun 250.22
May 250.2
May 250.2
May 250.23
May 250.19
May 250.21
Apr 250.17
Apr 250.19
Apr 250.16
Apr 250.16
Mar 250.25
Mar 250.3
Mar 250.28
Mar 250.29
Feb 250.32
Feb 250.4
Feb 250.43
Feb 250.46
Jan 250.46
Jan 250.48
Jan 250.48
Jan 250.46
Jan 250.47
Dec 240.43
Dec 240.41
Dec 240.47
Dec 240.48
Nov 240.52
Nov 240.51
Nov 240.49
Nov 240.5
Nov 240.55
Oct 240.6
Oct 240.64
EV/EBITDA
020406080med 11.15Nov 23Feb 24May 24Sep 25Jan 26Apr 26Jul 26
FWRD EV/EBITDA by year
PeriodEV/EBITDA
Jul 2624.1
Jul 2624.47
Jul 2624.01
Jul 2623.9
Jul 2623.92
Jun 2624.36
Jun 2623.97
Jun 2623.88
Jun 2622.98
May 2623.05
May 2622.5
May 2622.49
May 2612.67
May 2614.58
Apr 2614.93
Apr 2614.72
Apr 2614.21
Apr 2613.93
Mar 2613.73
Mar 2613.6
Mar 2613.66
Mar 2610.24
Feb 2610.64
Feb 2610.93
Feb 2610.81
Feb 2611.18
Jan 2610.94
Jan 2610.93
Jan 2611.02
Jan 2610.84
Jan 2610.62
Dec 2510.66
Dec 2510.6
Dec 2510.66
Dec 2510.71
Nov 2510.36
Nov 2510.06
Nov 2510.15
Nov 2510.12
Oct 2510.57
Oct 2510.67
Oct 2510.73
Oct 2511.03
Oct 2511.13
Sep 2511.53
Sep 2511.44
Sep 2511.85
Sep 2511.9
Aug 2511.94
Aug 2512.04
Aug 2511.9
Aug 2467.52
Jul 2470.41
Jul 2469.88
Jul 2468.7
Jul 2465.23
Jun 2465.41
Jun 2466.23
Jun 2466.73
Jun 2466.58
May 2463.81
May 2460.6
May 2462
May 2417.07
May 2418.32
Apr 2418.41
Apr 2418.71
Apr 2419.06
Apr 2419.57
Mar 2420.15
Mar 2419.76
Mar 2419.54
Mar 245.33
Mar 245.54
Feb 246.58
Feb 246.47
Feb 246.75
Feb 247.04
Jan 247.41
Jan 248.03
Jan 248.68
Jan 249.47
Dec 239.52
Dec 239.88
Dec 239.67
Dec 239.61
Dec 239.87
Nov 239.8
Nov 239.91
Nov 239.74
Nov 237.81
Oct 238.23
Oct 238.75
Oct 238.4
Oct 238.33
Sep 238.06
Sep 237.76
Sep 238.1
Sep 238.16
Sep 238.36
Price/Operating Cashflow
0100200300med 11.18Mar 24Jul 24Jul 25Oct 25Feb 26May 26Sep 26
FWRD Price/Operating Cashflow by year
PeriodPrice/Operating Cashflow
Sep 267.62
Sep 268.2
Aug 267.79
Aug 268.3
Aug 268.69
Aug 268.87
Jul 266.96
Jul 267.56
Jul 266.81
Jul 266.63
Jul 266.66
Jun 267.37
Jun 266.75
Jun 266.6
Jun 265.13
May 265.24
May 264.36
May 264.34
May 266.89
May 2614.88
Apr 2616.36
Apr 2615.48
Apr 2613.36
Apr 2612.15
Mar 2611.33
Mar 2610.8
Mar 2611.03
Mar 2615.62
Feb 2618.01
Feb 2619.81
Feb 2619.09
Feb 2621.29
Jan 2619.85
Jan 2619.79
Jan 2620.35
Jan 2619.27
Jan 2617.9
Dec 2518.17
Dec 2517.81
Dec 2518.14
Dec 2518.44
Nov 2516.36
Nov 2514.51
Nov 2515.08
Nov 2514.89
Oct 2514.03
Oct 2514.66
Oct 2515.02
Oct 2516.85
Oct 2517.48
Sep 2519.94
Sep 2519.39
Sep 2521.89
Sep 2522.18
Aug 2522.4
Aug 2523.03
Aug 2522.2
Aug 25232.28
Aug 25224.14
Jul 25246.57
Jul 25205.87
Jul 25210.17
Jul 25203.49
Jun 25193.12
Jun 25170.32
Jun 25155.19
Jun 25143.52
May 25128.85
May 25128.93
May 25147.2
May 25125.32
Aug 249.06
Jul 2410.72
Jul 2410.42
Jul 249.74
Jul 247.75
Jun 247.85
Jun 248.32
Jun 248.61
Jun 248.52
May 246.93
May 245.08
May 245.89
May 242.19
May 243.08
Apr 243.15
Apr 243.37
Apr 243.62
Apr 243.99
Mar 244.4
Mar 244.13
Mar 243.96
Mar 243.52
Mar 243.71
Feb 244.64
Feb 244.55
Feb 244.8
Feb 245.06
Jan 245.4
Jan 245.95
Price to Book
12345med 3Nov 24Feb 25Jun 25Sep 25Jan 26Apr 26Jul 26
FWRD Price to Book by year
PeriodPrice to Book
Jul 263.56
Jul 263.86
Jul 263.48
Jul 263.39
Jul 263.41
Jun 263.77
Jun 263.45
Jun 263.38
Jun 262.62
May 262.68
May 262.23
May 262.22
May 261.89
May 264.09
Apr 264.49
Apr 264.25
Apr 263.67
Apr 263.34
Mar 263.11
Mar 262.96
Mar 263.03
Mar 263.47
Feb 264
Feb 264.4
Feb 264.24
Feb 264.73
Jan 264.41
Jan 264.39
Jan 264.52
Jan 264.28
Jan 263.97
Dec 254.04
Dec 253.96
Dec 254.03
Dec 254.1
Nov 253.63
Nov 253.22
Nov 253.35
Nov 253.31
Oct 252.65
Oct 252.77
Oct 252.83
Oct 253.18
Oct 253.3
Sep 253.76
Sep 253.66
Sep 254.13
Sep 254.18
Aug 254.23
Aug 254.34
Aug 254.19
Aug 254.02
Aug 253.88
Jul 254.27
Jul 253.57
Jul 253.64
Jul 253.52
Jun 253.35
Jun 252.95
Jun 252.69
Jun 252.49
May 252.23
May 252.23
May 252.55
May 252.17
May 251.82
Apr 251.5
Apr 251.61
Apr 251.39
Apr 251.35
Mar 252.13
Mar 251.76
Mar 251.66
Mar 251.72
Feb 251.87
Feb 252.32
Feb 252.54
Feb 252.68
Jan 252.68
Jan 252.78
Jan 252.81
Jan 252.68
Jan 252.77
Dec 242.5
Dec 242.4
Dec 242.73
Dec 242.82
Nov 243.05
Nov 242.98
Nov 242.87
Nov 242.94
Nov 242.52
Oct 242.71
Oct 242.92
Oct 242.7
Oct 242.6
Sep 242.61
Sep 242.64
Sep 242.61
Sep 242.35
Forward Air Corporation
FWRD
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News: FWRD

Bank of America Corp DE Has $5.20 Million Stock Position in Forward Air Corporation $FWRD

defenseworld.net · 28 Aug 2026

Bank of America Corp DE Has $5.20 Million Stock Position in Forward Air Corporation $FWRD

Bank of America Corp DE lowered its stake in Forward Air Corporation (NASDAQ: FWRD) by 19.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,107 shares of the transportation company's stock after selling 73,601 shares during the quarter. Bank of

Deutsche Bank AG Acquires New Shares in Forward Air Corporation $FWRD

defenseworld.net · 24 Aug 2026

Deutsche Bank AG Acquires New Shares in Forward Air Corporation $FWRD

Deutsche Bank AG bought a new stake in Forward Air Corporation (NASDAQ: FWRD) during the undefined quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 613,841 shares of the transportation company's stock, valued at approximately $8,293,000. Deutsche Bank AG

AlpInvest Partners B.V. Acquires Shares of 103,330 Forward Air Corporation $FWRD

defenseworld.net · 19 Aug 2026

AlpInvest Partners B.V. Acquires Shares of 103,330 Forward Air Corporation $FWRD

AlpInvest Partners B.V. acquired a new stake in shares of Forward Air Corporation (NASDAQ: FWRD) in the undefined quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,330 shares of the transportation company's stock, valued at approximately $1,396,000. Forward Air comprises about 2.3% of

5 Broker-Loved Stocks to Watch as September Rate Hike Seems Unlikely

zacks.com · 11 Aug 2026

5 Broker-Loved Stocks to Watch as September Rate Hike Seems Unlikely

Weak July jobs data dims September rate-hike odds, putting broker-favored stocks like Avnet, RXO, Forward Air, Air Canada and AMN Healthcare in focus.

Forward Air Q2 Earnings Call Highlights

marketbeat.com · 5 Aug 2026

Forward Air Q2 Earnings Call Highlights

Forward Air NASDAQ: FWRD reported record quarterly operating revenue and its strongest consolidated EBITDA performance in more than two years during the second quarter of 2026, as its Expedited Freight, Omni Logistics and Intermodal operations improved.

Forward Air Corporation (FWRD) Q2 2026 Earnings Call Transcript

seekingalpha.com · 5 Aug 2026

Forward Air Corporation (FWRD) Q2 2026 Earnings Call Transcript

Forward Air Corporation (FWRD) Q2 2026 Earnings Call Transcript

Forward Air Corporation Reports Second Quarter 2026 Results

businesswire.com · 5 Aug 2026

Forward Air Corporation Reports Second Quarter 2026 Results

DALLAS--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company,” “Forward,” “we,” “our,” or “us”) today reported financial results for the three months ended June 30, 2026, as presented in the tables below. “We are pleased to deliver another solid quarter and we are seeing momentum from our transformational efforts, combined with an improving freight market,” said Shawn Stewart, President and Chief Executive Officer. “This contributed to reporting $673 million in consolidated oper.

Forward Air (FWRD) Surges 22.8%: Is This an Indication of Further Gains?

zacks.com · 22 Jul 2026

Forward Air (FWRD) Surges 22.8%: Is This an Indication of Further Gains?

Forward Air (FWRD) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

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Disclaimer: The historical data presented on this platform is provided by Financial Modeling Prep. Stock Picker is a platform for informational purposes only and does not provide financial advice. Users are encouraged to conduct their own research and consult with a qualified financial advisor before making investment decisions.