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StockVS

NASDAQ · Integrated Freight & Logistics · USD

Forward Air Corporation (FWRD) Stock Analysis

Forward Air Corporation (FWRD) is a Integrated Freight & Logistics stock listed on NASDAQ and quoted in US Dollar.

FWRD

$17.89

+$1.58 (+9.69%)

Sep 4, 2026 · Market close

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Price History

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FWRD Key Statistics

As of Sep 4, 2026
Trading
Open
$16.21
Previous Close
$16.31
Day's Range
16.21–18.36
52-Week Range
7.86–31.18
Volume
799.70K
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
1.39
Valuation
Market Cap
$604.34M
P/E Ratio
unprofitable
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
41.60
PEG RatioThe P/E ratio divided by the expected earnings growth rate. It puts a high P/E in the context of how fast profits are growing.
0.65
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
0.24
EPS (ttm)Profit attributable to each share over the last twelve months.
−9.77
Financials (FY)
Revenue (FY)
$2.50B+0.84%
Net Income (FY)
−$107.80M
Profit marginThe share of revenue left as profit after all costs and taxes.
−11.37%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
33.78M
1-Year Return
−41.11%
Dividend and dates
Earnings Date
November 4, 2026estimated
Avg Volume
904.81K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

FWRD Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)−28.44%
2025−22.48%
2024−48.70%
2023−39.34%
2022−12.56%
2021+59.02%
2020+11.27%
2019+29.00%
2018−3.49%
2017+22.67%
2016 (partial year)+2.34%

As of September 4, 2026.

FWRD Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025$2.50B−$107.80M−4.3%
2024$2.47B−$816.97M−33.0%
2023$1.37B$167.35M12.2%
2022$1.68B$193.19M11.5%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025$2.50B$338.18M$36.42M−$107.80M−4.3%
2024$2.47B$339.65M−$34.54M−$816.97M−33.0%
2023$1.37B$330.15M$88.21M$167.35M12.2%
2022$1.68B$491.67M$247.59M$193.19M11.5%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

FWRD Valuation vs Integrated Freight & Logistics Median

Median of 33 stocks
MetricFWRDIntegrated Freight & Logistics medianvs median
P/S ratio0.240.5455% below
Profit margin−11.37%0.00%11.4 pts below

Medians across 33 Integrated Freight & Logistics stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Recent News

All 11 articles ↓

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

Forward Air Corporation (FWRD) is capitalised at $604.34M on the latest close. It is classified in the Integrated Freight & Logistics industry, within the Industrials sector. The company reports 6,062 employees.

FWRD last closed at $17.89 on September 4, 2026. That is +$1.58 (+9.69%) against the previous close. Over the past 52 weeks the price has ranged from $7.86 to $31.18. The latest close sits 127.61% above that 52-week low.

Financial Health

In fiscal 2025, Forward Air Corporation reported revenue of $2.50B. That is +0.84% against the prior fiscal year, when revenue was $2.47B. The same year closed with a net loss of $107.80M. Profit margin runs at −11.37%. That is 11.4 percentage points below the Integrated Freight & Logistics median of 0%. Earnings per share on a trailing basis come to −9.77.

Across the 4 fiscal years on file, revenue moves from $1.68B in 2022 to $2.50B in 2025. Of those 4 years, 2 report positive net income.

Valuation Assessment

No trailing P/E applies: the last reported earnings figure is negative. On forward earnings the ratio is 41.6. The PEG ratio, which sets the P/E against expected earnings growth, reads 0.65. The price-to-sales ratio is 0.24. On price-to-sales that is 55.41% below the Integrated Freight & Logistics median of 0.54. The medians here are taken across 33 Integrated Freight & Logistics companies that report the metric.

Beta against the wider market is reported at 1.39. Annualized volatility over the trailing 10 years is 50.77%. The trailing one-year price return is −41.11%. Measured over 10 years, that is −8.46% a year compounded.

Growth & Income

No dividend is on file for FWRD.

Across the complete calendar years on file, 2021 returned +59.02% and 2024 returned −48.70%. Of the 9 complete calendar years on file, 4 finished higher. 2026 is still running; the price is −28.44% year to date.

Peer Comparison

Forward Air Corporation (FWRD) operates in the Integrated Freight & Logistics industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
Forward Air Corporation FWRD $604.34M —
United Parcel Service, Inc. UPS $87.03B 19.0
FedEx Corporation FDX $76.33B 17.5
J.B. Hunt Transport Services, Inc. JBHT $25.71B 37.9

The Integrated Freight & Logistics industry average P/E ratio is 23.3x. Forward Air Corporation has no P/E ratio because it is not currently profitable.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

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About 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.

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