Inside the research
Forward Air Corporation
FWRD Research profile · latest available data
Price overview
$14.69
▼ -0.06 (-0.4%)
| 52w hi | $30.23 |
|---|---|
| 52w lo | $8.31 |
| Vol | 434.10K |
| As of | 25 Sep 2026 |
The Verdict
Our score -0.40
| Short | +0.03 |
|---|---|
| Medium | -0.49 |
| Long | -1.08 |
computed 2026-09-27
Key fundamentals
Forward Air Corporation
Industrials · Integrated Freight & Logistics
| Market cap | $496.24M |
|---|---|
| Enterprise value | $2.46B |
| Forward P/E | 34.16x |
| EV / EBITDA | 8.73x |
| P / S (ttm) | 0.20x |
| Profit margin | -11.4% |
| Return on equity | -735.7% |
| Revenue growth | +8.8% |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | -0.18 | |
| Sector | -0.01 | |
| Technical | -0.10 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
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.
Risk Metrics
| Beta vs SPX | 2.23 |
|---|---|
| Corr SPX | 0.44 |
| Annual vol | 80.8% |
| Annual ret | -10.1% |
| Sharpe | -0.13 |
| Max DD | -79.3% |
Window: 504 trading days (504 obs)
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-05 | Earnings Release, Exhibits | read |
| 2026-07-21 | Reg FD Disclosure, Exhibits | read |
| 2026-07-10 | Officer / Director Change, Exhibits | read |
| 2026-06-17 | Shareholder Vote, Exhibits | read |
| 2026-05-07 | Earnings Release, Exhibits | read |
| 2026-04-29 | Officer / Director Change | read |
| 2026-02-23 | Earnings Release, Exhibits | read |
| 2025-11-05 | Earnings Release, Exhibits | read |
| 2025-10-15 | Officer / Director Change | read |
| 2025-09-02 | Officer / Director Change, Exhibits | read |
| 2025-08-11 | Earnings Release, Exhibits | read |
| 2025-07-14 | Officer / Director Change, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-06-18 | Gorjanc Christine Marie | Grant | 9.54K | — |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 8 |
| Top-5 share | 91.5% |
| HHI | 3,024 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| Fidelity / FMR LLC | $27.13M | 2.01M |
| State Street Corp | $7.83M | 579.83K |
| Citadel Advisors | $5.97M | 441.87K |
| Millennium Management | $5.70M | 422.19K |
| Capital Research / Capital World | $2.84M | 210.15K |
| Renaissance Technologies | $2.58M | 190.74K |
| AQR Capital Management | $2.02M | 149.76K |
| T. Rowe Price Group | $499 | 36.88K |
As of 2026-06-30
SEC Filings
The Long Run
FY 2010–2025 · 16 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $2.50B | +11.7% | |
| Operating income | $88.21M | +3.6% | |
| Net income | -$107.80M | +14.8% | |
| Cash from ops | $152.55M | +12.2% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $14.81 | $15.40 | $14.65 | $14.69 | 434.10K |
| Sep 24 | $15.03 | $15.27 | $14.23 | $14.75 | 467.20K |
| Sep 23 | $15.14 | $15.16 | $14.54 | $15.06 | 451.70K |
| Sep 22 | $15.00 | $15.42 | $14.70 | $15.14 | 394.80K |
| Sep 21 | $15.00 | $15.07 | $14.10 | $14.59 | 567.00K |
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