Is Forward Air (FWRD) overvalued or fairly valued?

MarketChacha shows Forward Air's valuation in context — a forward P/E of about -41.6, a price-to-book of about 6.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

What is Forward Air's revenue?

Forward Air reported revenue of $2.5B for FY2025, with net profit of $-107.8M, per official filings.

What is the share price of Forward Air (FWRD)?

Forward Air last traded at $16.01 (-1.2% on the day), as of 7/22/2026 — a delayed quote shown for education, not investment advice.

Forward Air

FWRD · NYSE · Industrials · United States

$16.01-1.2%

Delayed · as reported by Yahoo Finance · as of Jul 22, 2026, 7:27 PM

Snapshot

TickerFWRD

ExchangeNYSE

SectorIndustrials

IndustryIntegrated Freight & Logistics

CountryUnited States

Employees6,000

HeadquartersDallas, United States

Market cap$506.3M

P/B6.2

Volume572.51K

Websitewww.forwardair.com

Filings tracked6

About Forward Air

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.

Profile as reported by Yahoo Finance.

Who owns it

Insiders2.0%
Institutions98.0%
Public & other0.0%

262 institutional holders

As reported by Yahoo Finance.

Top holders

Clearlake Capital Group, LP12.09%
Blackrock Inc.11.70%
Irenic Capital Management LP3.89%
Private Management Group, Inc.3.65%
FMR, LLC3.44%
State Street Corporation3.33%
Vanguard Capital Management LLC3.25%
Paralel Advisors Llc3.08%

Largest institutional holders, as reported by Yahoo Finance (as of 3/31/2026).

Forensic scorecard

Margin has compressed by about 16.5 points over the period — profitability is trending down.

Net margin trend12.2% → -4.3%

Margin has compressed by about 16.5 points over the period — profitability is trending down.

Return on equity-95.1%

Latest ROE of -95.1% is on the low side — the business earns a modest return on shareholder capital.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $650.6M · EPS -0.12

Est. earnings growth -260.3%

Next fiscal year

Rev $2.5B · EPS -0.39

Est. earnings growth +58.7%

Analyst consensus estimates — not the company's own guidance. As reported by Yahoo Finance.

$7.8652-wk range$32.47

Delayed · as reported by Yahoo Finance

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Market cap

$506.3M

Day change

-1.2%

Fwd P/E

-41.6

P/B

6.2

Beta

1.36

Revenue (FY2025)

$2.5B

Net margin

-4.3%

ROE

-95.1%

Revenue CAGR (2y)

+34.9%

EPS (FY2025)

-3.51

Net profit (FY2025)

$-107.8M

Market figures: Delayed · as reported by Yahoo Finance. Financials as reported in company filings.

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$2.5B	$-107.8M	-3.51	-4.3%	-95.1%
FY2024	$2.5B	$-817.0M	-30.63	-33.0%	-405.0%
FY2023	$1.4B	$167.4M	6.40	12.2%	21.9%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q1	$582.0M	$-34.3M	-1.09	-5.9%
2025Q3	$631.8M	$-16.3M	-0.52	-2.6%
2025Q2	$618.8M	$-12.6M	-0.41	-2.0%
2025Q1	$613.3M	$-50.6M	-1.68	-8.3%
2024Q4	$632.8M	$-36.4M	-1.24	-5.8%
2024Q3	$655.9M	$-73.4M	-2.66	-11.2%
2024Q2	$643.7M	$-645.4M	-23.47	-100.3%
2024Q1	$541.8M	$-61.7M	-2.81	-11.4%
2023Q4	$338.4M	$101.7M	3.93	30.1%
2023Q3	$341.0M	$9.3M	0.36	2.7%
2023Q2	$333.6M	$20.0M	0.76	6.0%
2023Q1	$357.7M	$36.4M	1.37	10.2%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Reg FD disclosure, Exhibits
SEC7/21/2026material
8-K — Executive/director change, Exhibits
SEC7/10/2026material
8-K — Shareholder vote results, Exhibits
SEC6/17/2026material
10-Q filing
SEC5/11/2026
8-K — Results of operations, Exhibits
SEC5/7/2026material
8-K — Executive/director change
SEC4/29/2026material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed · as reported by yahoo finance) are delayed and shown for reference only. Verify with the linked sources before acting.