FORWARD AIR CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 22.27 USD | -3.34% |
|
-6.35% | -64.58% |
| Apr. 23 | Forward Air Appoints Shawn Stewart CEO | MT |
| Apr. 23 | Forward Air Corporation Announces Chief Executive Officer Changes | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,971 | 2,114 | 3,264 | 2,789 | 1,613 | 587.3 | - |
| Enterprise Value (EV) 1 | 2,030 | 2,236 | 3,264 | 2,789 | 3,366 | 2,122 | 2,023 |
| P/E ratio | 23 x | 91.5 x | 31.5 x | 14.7 x | 9.82 x | 35.9 x | 12.7 x |
| Yield | 1.03% | - | 0.69% | 0.92% | 1.53% | - | - |
| Capitalization / Revenue | 1.4 x | 1.66 x | 1.96 x | 1.41 x | 1.18 x | 0.21 x | 0.19 x |
| EV / Revenue | 1.44 x | 1.76 x | 1.96 x | 1.41 x | 2.46 x | 0.77 x | 0.67 x |
| EV / EBITDA | 12.6 x | 20.1 x | 16.4 x | 8.9 x | 16.6 x | 6.78 x | 5.61 x |
| EV / FCF | 15.1 x | 28.6 x | 38.1 x | 12.8 x | 19.5 x | 33.5 x | 13.4 x |
| FCF Yield | 6.61% | 3.5% | 2.63% | 7.83% | 5.12% | 2.99% | 7.45% |
| Price to Book | 3.38 x | 3.83 x | - | - | 2.14 x | 0.31 x | 0.29 x |
| Nbr of stocks (in thousands) | 28,172 | 27,508 | 26,958 | 26,590 | 25,662 | 26,370 | - |
| Reference price 2 | 69.95 | 76.84 | 121.1 | 104.9 | 62.87 | 22.27 | 22.27 |
| Announcement Date | 2/6/20 | 2/11/21 | 2/9/22 | 2/8/23 | 2/28/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,410 | 1,270 | 1,662 | 1,973 | 1,371 | 2,753 | 3,031 |
| EBITDA 1 | 160.9 | 111 | 198.9 | 313.4 | 203.1 | 313 | 360.9 |
| EBIT 1 | 118.8 | 73.92 | 166.7 | 267.7 | 145.7 | 196 | 253 |
| Operating Margin | 8.42% | 5.82% | 10.03% | 13.57% | 10.63% | 7.12% | 8.35% |
| Earnings before Tax (EBT) 1 | 116.1 | 69.36 | 155 | 260.8 | 56.64 | 36.85 | 74.15 |
| Net income 1 | 87.1 | 23.73 | 105.9 | 193.2 | 167.4 | 24.62 | 69.91 |
| Net margin | 6.18% | 1.87% | 6.37% | 9.79% | 12.21% | 0.89% | 2.31% |
| EPS 2 | 3.040 | 0.8400 | 3.850 | 7.140 | 6.400 | 0.6200 | 1.747 |
| Free Cash Flow 1 | 134.1 | 78.25 | 85.79 | 218.4 | 172.2 | 63.39 | 150.7 |
| FCF margin | 9.51% | 6.16% | 5.16% | 11.07% | 12.56% | 2.3% | 4.97% |
| FCF Conversion (EBITDA) | 83.33% | 70.47% | 43.14% | 69.68% | 84.8% | 20.25% | 41.77% |
| FCF Conversion (Net income) | 153.97% | 329.71% | 81.04% | 113.03% | 102.91% | 257.46% | 215.63% |
| Dividend per Share 2 | 0.7200 | - | 0.8400 | 0.9600 | 0.9600 | - | - |
| Announcement Date | 2/6/20 | 2/11/21 | 2/9/22 | 2/8/23 | 2/28/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 419.6 | 459.9 | 467 | 515.2 | 510 | 481.2 | 427.1 | 402.2 | 413.4 | 338.4 | 604 | 698.3 | 706.3 | 744.5 | 735.6 |
| EBITDA 1 | 51.89 | 63.46 | 68.48 | 87.14 | 83.93 | 73.81 | 64.14 | 44.72 | 31 | 50.2 | 59.5 | 79.32 | 83.08 | 90.49 | 77.55 |
| EBIT 1 | 43.44 | 51.87 | 57.35 | 75.54 | 71.66 | 63.45 | 50.51 | 35.71 | 37.86 | 32.62 | 32 | 53.64 | 57.11 | 64.36 | 53 |
| Operating Margin | 10.35% | 11.28% | 12.28% | 14.66% | 14.05% | 13.19% | 11.83% | 8.88% | 9.16% | 9.64% | 5.3% | 7.68% | 8.09% | 8.64% | 7.21% |
| Earnings before Tax (EBT) 1 | 41.5 | 51.1 | 56.57 | 74.35 | 70.12 | 59.8 | 48.15 | 27.63 | 12.84 | -20.98 | -1.55 | 11.3 | 11.75 | 15.4 | 11.45 |
| Net income 1 | 23.54 | 40.46 | 42.69 | 55.08 | 52.13 | 42.94 | 36.37 | 19.95 | 9.288 | 101.7 | -9.615 | 8.711 | 10.08 | 15.41 | 8.55 |
| Net margin | 5.61% | 8.8% | 9.14% | 10.69% | 10.22% | 8.92% | 8.52% | 4.96% | 2.25% | 30.06% | -1.59% | 1.25% | 1.43% | 2.07% | 1.16% |
| EPS 2 | 0.8600 | 1.480 | 1.570 | 2.040 | 1.930 | 1.600 | 1.370 | 0.7600 | 0.3600 | 3.930 | -0.2700 | 0.2200 | 0.2533 | 0.3867 | 0.2150 |
| Dividend per Share 2 | - | - | 0.2400 | 0.2400 | 0.2400 | 0.2400 | 0.2400 | 0.2400 | 0.2400 | 0.2400 | - | - | - | - | - |
| Announcement Date | 10/27/21 | 2/9/22 | 4/27/22 | 7/27/22 | 10/26/22 | 2/8/23 | 5/1/23 | 8/2/23 | 10/30/23 | 2/28/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 59.5 | 123 | - | - | 1,752 | 1,534 | 1,436 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.3699 x | 1.104 x | - | - | 8.627 x | 4.902 x | 3.979 x |
| Free Cash Flow 1 | 134 | 78.3 | 85.8 | 218 | 172 | 63.4 | 151 |
| ROE (net income / shareholders' equity) | - | - | 21.3% | 40.4% | 13.9% | 4% | 7% |
| ROA (Net income/ Total Assets) | - | - | - | - | 4.88% | - | - |
| Assets 1 | - | - | - | - | 3,427 | - | - |
| Book Value Per Share 2 | 20.70 | 20.00 | - | - | 29.40 | 71.60 | 77.10 |
| Cash Flow per Share 2 | - | - | - | 9.700 | 7.660 | 0.8800 | 3.930 |
| Capex 1 | 30.7 | 20.3 | 39.1 | 40.7 | 30.7 | 84.5 | 40 |
| Capex / Sales | 2.17% | 1.6% | 2.35% | 2.06% | 2.24% | 3.07% | 1.32% |
| Announcement Date | 2/6/20 | 2/11/21 | 2/9/22 | 2/8/23 | 2/28/24 | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
7
Last Close Price
22.27
USD
Average target price
35.4
USD
Spread / Average Target
+58.96%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -64.58% | 587M | |
| -6.13% | 126B | |
| +5.09% | 65.42B | |
| -13.41% | 48.51B | |
| -10.93% | 16.08B | |
| +22.81% | 8.2B | |
| -10.03% | 7.24B | |
| -59.73% | 7.17B | |
| +30.89% | 5.68B | |
| -20.63% | 4.51B |
- Stock Market
- Equities
- FWRD Stock
- Financials Forward Air Corporation
