LIVE

FWRD

Forward Air Corporation

FWRD

NASDAQ·Industrials·Integrated Freight & Logistics·Mkt cap $445.6M

$13.45

▼ -4.54%

View full research view

Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

View research view

52-Week Range

$7.86 - $32.47

P/E

-4.56

Fwd P/E

-16.24

Beta

1.42

Div Yield

0.00%

Avg Vol

1.3M

Shares Out

31.6M

Mkt Cap

$445.6M

Price action

Price chart

Down 46.5% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

▲

Bull Case

4 reasons

  • Asset-light business model reducing capital intensity and improving return on assets
  • Diversified customer base including major airlines, freight forwarders, and 3PLs providing revenue stability
  • Specialized service offerings (temperature-controlled, high-security, customs brokerage) commanding premium margins
  • Established network and operational infrastructure across US and Canada since 1981
▼

Bear Case

1 risk

  • Average volatility.

Growth

Stable outlook

E-commerce expansion driving demand for final-mile and expedited delivery services

Value

Deep value opportunity - significant discount to Logistics & Delivery peers

Momentum

Weak

-19.1% over 3m

Quality

Thin

Solid business

Dividend

None

No dividend

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Apr 23, 2026

“
Q2 26 RECAP

MAY 7, 2026

Reported EPS of -$1.09 vs -$0.35 consensus (-211.4% surprise). Revenue of $582.0M vs $620.2M expected (-6.2%).

EPS miss
Revenue miss

EPS surprise · last 4Q

0 of 1 beats

Q2 26

-211.4%

Next: Apr 23, 2026

Revenue trend · last 8Q

—

—

+394%

+13%

-4%

-4%

-0%

-5%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$643.7M

$655.9M

$632.8M

$613.3M

$618.8M

$631.8M

$631.2M

$582.0M

Margins · last 8Q

Gross

—

Operating

—

Profit

-5.9%

View full earnings history →

Wall Street consensus

2 analysts · 100% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

2

100%

Hold

0%

Sell

0%

Median Price Target

$17.50

▲ +30.1% vs $13.45

Low $17.00
Median $17.50
High $18.00

Latest: Stifel · $17.00 · May 8, 2026

2 analysts covering

View full analyst page →

vs Industry

How FWRD stacks vs Integrated Freight & Logistics

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.