FWRD
BEARISH
$18.87
Live
Forward Air Corporation · NASDAQ
Target $35.33
(+87.2%)
$12.07
52W Range
$32.47
At a glance
Key valuation, profitability, growth, and risk metrics.
Updated Apr 10, 2026
Market cap
$595.43M
P/E
N/A
ROE
-63.3%
Profit margin
-4.3%
Debt/Equity
13.36
Dividend yield
N/A
AI Analysis
AI-powered fundamental assessment
Confidence
90%
FWRD exhibits severe financial distress, anchored by a weak Piotroski F-Score of 2/9 and an alarming Debt/Equity ratio of 13.36. While the Price/Sales ratio is low, the company suffers from negative profit margins, a deeply negative ROE (-63.34%), and stagnant revenue growth. There is a stark disconnect between the bullish analyst target price ($35.33) and the deteriorating fundamental health and bearish insider sentiment. The combination of extreme leverage and poor operational efficiency suggests significant insolvency risk.
Key Strengths
Low Price-to-Sales ratio (0.24) suggesting potential undervaluation of top-line revenue
Current ratio of 1.22 indicates short-term liquidity is currently maintained
Recent quarterly earnings have beaten lowered analyst estimates
Gross margin remains positive at 19.67%
Short-term 1-year price recovery (+36.2%)
Key Risks
Extreme leverage with a Debt/Equity ratio of 13.36, far exceeding sector averages
Critical financial health indicated by a Piotroski F-Score of 2/9
Deeply negative Return on Equity (-63.34%) indicating value destruction
Stagnant to negative revenue growth (YoY -0.30%)
Bearish insider activity with $6.58M in recent sales and zero buys
Performance Snowflake
Multi-dimensional analysis across 5 key categories
Overall
16
Weak
30
25
15
10
0
AI Verdict
High Risk / Speculative
Key drivers: Extreme Debt/Equity ratio, Weak Piotroski F-Score, Negative ROE, Bearish Insider Sentiment
Confidence
95%
Value
30/100
Trades at a high premium to book value despite negative earnings.
Positives
- Very low P/S ratio (0.24)
Watchpoints
- High Price/Book (5.22)
- Excessive Forward P/E (71.21)
- No Graham Number available due to lack of earnings
Future
25/100
Growth metrics are flat to negative, contradicting the high Forward P/E.
Positives
- Recent EPS surprises are positive
Watchpoints
- Negative YoY revenue growth
- Extreme Q/Q EPS volatility
- Lack of organic growth catalysts
Past
15/100
Long-term trajectory is sharply downward.
Positives
- 1-year price bounce
Watchpoints
- Catastrophic 3-year (-82.3%) and 5-year (-78.4%) returns
- Consistent trend of earnings deterioration since 2023
Health
10/100
Financial health is in a critical state; high risk of credit distress.
Positives
- Current ratio above 1.0
Watchpoints
- Piotroski F-Score of 2/9 (Weak)
- Debt/Equity of 13.36 is unsustainable
- Negative Profit Margin
Dividend
0/100
Non-dividend paying stock.
Positives
No standout positives identified.
Watchpoints
- No dividend paid
- No history of payouts
Stock Price & Analyst Targets
Real-time price movements and analyst price targets
Current Price
$18.87
Analyst Target
$35.33
Upside/Downside
+87.2%
Multi-Horizon Performance vs Peers
Price momentum across 5Y → 1W horizons for FWRD and closest competitors.
Updated 2026-04-09
| Company | 5Y | 3Y | 1Y | 6M | 1M | 1W |
|---|---|---|---|---|---|---|
|
FWRD
Forward Air Corporation
Primary
|
-78.4% | -82.3% | +36.2% | -19.8% | -14.4% | +8.4% |
|
ADSE
ADS-TEC Energy PLC
Peer
|
+3.5% | +286.4% | -27.3% | +4.5% | -2.7% | -11.4% |
|
ERII
Energy Recovery, Inc.
Peer
|
-42.5% | -56.0% | -25.1% | -30.6% | -3.6% | +4.9% |
|
BWMN
Bowman Consulting Group Ltd.
Peer
|
+112.1% | +5.0% | +38.1% | -28.6% | -1.1% | +4.4% |
|
ESEA
Euroseas Ltd.
Peer
|
+869.5% | +448.5% | +161.7% | +26.3% | +6.7% | +2.8% |
FWR
Forward Air Corporation
Primary
5Y
-78.4%
3Y
-82.3%
1Y
+36.2%
6M
-19.8%
1M
-14.4%
1W
+8.4%
ADS
ADS-TEC Energy PLC
Peer
5Y
+3.5%
3Y
+286.4%
1Y
-27.3%
6M
+4.5%
1M
-2.7%
1W
-11.4%
ERI
Energy Recovery, Inc.
Peer
5Y
-42.5%
3Y
-56.0%
1Y
-25.1%
6M
-30.6%
1M
-3.6%
1W
+4.9%
BWM
Bowman Consulting Group Ltd.
Peer
5Y
+112.1%
3Y
+5.0%
1Y
+38.1%
6M
-28.6%
1M
-1.1%
1W
+4.4%
ESE
Euroseas Ltd.
Peer
5Y
+869.5%
3Y
+448.5%
1Y
+161.7%
6M
+26.3%
1M
+6.7%
1W
+2.8%
Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.
Historical Performance Trends
Long-term financial metrics and growth patterns
Revenue & Net Income
Profit & Operating Margins
Return on Equity (ROE)
Quarterly Revenue Growth
Historical data shows last 12 quarters (3 years)
Valuation Metrics
Key valuation ratios and pricing indicators
P/E Ratio
N/A
Forward P/E
71.21
PEG Ratio
N/A
P/B Ratio
5.22
P/S Ratio
0.24
EV/Revenue
1.08
EV/EBITDA
11.22
Market Cap
$595.43M
Profitability
Profit margins and return metrics
Profit Margin
-4.32%
Operating Margin
3.59%
Gross Margin
19.67%
ROE
-63.34%
ROA
1.98%
Growth
Revenue and earnings growth rates
Revenue Growth
-0.3%
Earnings Growth
N/A
Q/Q Revenue Growth
-0.26%
Q/Q Earnings Growth
N/A
Financial Health
Balance sheet strength and liquidity metrics
Debt/Equity
13.36
High debt
Current Ratio
1.22
Good
Quick Ratio
1.06
Good
Cash/Share
$3.36
Financial Statement Flow
Interactive flow visualization showing how money moves through the company Q4 2025
Revenue
$0.6B
Gross Margin
15.2%
Op. Margin
-0.5%
Net Margin
-4.5%
Total Assets
$2.7B
Liabilities
$2.6B
Equity
$0.1B
Debt/Equity
22.56x
Operating CF
$-0.0B
CapEx
$-0.0B
Free Cash Flow
$-0.0B
FCF Yield
137%
Quarterly Earnings History
EPS performance vs analyst estimates
2026-05-06
$N/A
2026-02-23
$-0.19
+30.0% surprise
2025-11-05
$0.07
+160.7% surprise
2025-08-11
$0.06
+122.4% surprise
Industrials Sector Comparison
Comparing FWRD against 180 companies in the Industrials sector
(15 bullish, 78 neutral, 87 bearish)
Return on Equity (ROE)
-63.34%
This Stock
vs
0.44%
Sector Avg
-14378.5%
(Below Avg)
Profit Margin
-4.32%
This Stock
vs
32.32%
Sector Avg
-113.4%
(Weaker)
Debt to Equity
13.36
This Stock
vs
4.3
Sector Avg
+210.9%
(Higher)
Revenue Growth
-0.3%
This Stock
vs
32.15%
Sector Avg
-100.9%
(Slower)
Current Ratio
1.22
This Stock
vs
3.18
Sector Avg
-61.8%
(Weaker)
Similar Companies
Peer comparison within the same industry
| Company | AI Rating | Market Cap | P/E | ROE | Profit Margin | Price | |
|---|---|---|---|---|---|---|---|
|
FWRD
Forward Air Corporation
|
BEARISH | $595.43M | - | -63.3% | -4.3% | $18.87 | |
|
ADSE
ADS-TEC Energy PLC
|
BEARISH | $613.85M | - | -% | -148.9% | $10.21 | Compare |
|
ERII
Energy Recovery, Inc.
|
NEUTRAL | $567.86M | 24.36 | 11.0% | 17.0% | $10.72 | Compare |
|
BWMN
Bowman Consulting Group Ltd.
|
BEARISH | $508.57M | 40.68 | 5.1% | 2.6% | $29.7 | Compare |
|
ESEA
Euroseas Ltd.
|
BULLISH | $488.48M | 3.31 | 33.1% | 60.1% | $69.23 | Compare |
FWRD
Forward Air Corporation
BEARISH
Mkt Cap
$595M
P/E
-
ROE
-63.3%
Price
$18.87
Recent Insider Trading
Insider buy and sell transactions from the last 6 months
| Date | Insider | Position | Transaction | Shares | Value |
|---|---|---|---|---|---|
| 2026-03-16 | PIERSON JAMIE G | Chief Financial Officer | Stock Award | 5,732 | - |
| 2026-03-16 | STEWART SHAWN | Chief Executive Officer | Stock Award | 18,692 | - |
| 2026-02-19 | PIERSON JAMIE G | Chief Financial Officer | Stock Award | 20,698 | - |
| 2026-02-19 | HANCE MICHAEL L | Officer | Stock Award | 10,799 | - |
| 2026-02-19 | SMITH DOUGLAS JAMES | Officer | Stock Award | 5,850 | - |
| 2026-02-19 | FAUGHT JAMES R. | Officer | Stock Award | 2,340 | - |
| 2026-02-19 | STEWART SHAWN | Chief Executive Officer | Stock Award | 43,197 | - |
| 2026-02-19 | LORRAIN JEROME JEAN-PIERRE | Officer and Director | Stock Award | 10,799 | - |
| 2026-02-19 | BRANDT ERIC FREDERICK | Officer | Stock Award | 8,999 | - |
| 2026-02-19 | HERREN JESSICA L | Officer | Stock Award | 4,950 | - |
| 2026-02-19 | OSBORNE TIMOTHY R | Officer | Stock Award | 5,850 | - |
| 2025-11-12 | CETUS CAPITAL VI LP | Beneficial Owner of more than 10% of a Class of Security | Sale | 272,163 | $5,940,112 |
| 2025-10-20 | CETUS CAPITAL VI LP | Beneficial Owner of more than 10% of a Class of Security | Purchase | 225,000 | $4,034,950 |
| 2025-10-14 | CETUS CAPITAL VI LP | Beneficial Owner of more than 10% of a Class of Security | Sale | 30,000 | $642,600 |
PIERSON JAMIE G
Chief Financial Officer
2026-03-16
5,732 shares
STEWART SHAWN
Chief Executive Officer
2026-03-16
18,692 shares
PIERSON JAMIE G
Chief Financial Officer
2026-02-19
20,698 shares
HANCE MICHAEL L
Officer
2026-02-19
10,799 shares
SMITH DOUGLAS JAMES
Officer
2026-02-19
5,850 shares
FAUGHT JAMES R.
Officer
2026-02-19
2,340 shares
STEWART SHAWN
Chief Executive Officer
2026-02-19
43,197 shares
LORRAIN JEROME JEAN-PIERRE
Officer and Director
2026-02-19
10,799 shares
BRANDT ERIC FREDERICK
Officer
2026-02-19
8,999 shares
HERREN JESSICA L
Officer
2026-02-19
4,950 shares
OSBORNE TIMOTHY R
Officer
2026-02-19
5,850 shares
CETUS CAPITAL VI LP
Beneficial Owner of more than 10% of a Class of Security
2025-11-12
272,163 shares
·
$5,940,112
CETUS CAPITAL VI LP
Beneficial Owner of more than 10% of a Class of Security
2025-10-20
225,000 shares
·
$4,034,950
CETUS CAPITAL VI LP
Beneficial Owner of more than 10% of a Class of Security
2025-10-14
30,000 shares
·
$642,600
Insider transactions can signal confidence or concerns about company prospects
Wall Street Analysts
Professional analyst ratings and price targets
Consensus
BUY
3 analysts
Stifel
2026-01-21
Buy
Buy
Susquehanna
2026-01-05
Positive
Positive
Stifel
2025-10-17
Buy
Buy
Past News Coverage
Recent headlines mentioning FWRD from our newsroom.
Newest → oldest
No matching news yet.