Forward Financial Statements From 2010 to 2024

Stocks . USA . 
Stock . Forward Air
FWRD Stock  USD 35.99  0.04  0.11%   
Forward Air financial statements provide useful quarterly and yearly information to potential Forward Air investors about the company's current and past financial position, as well as its overall management performance and changes in financial position over time. Historical trend examination of various income statement and balance sheet accounts found on Forward Air financial statements helps investors assess Forward Air's valuation, profitability, and current liquidity needs. Key fundamental drivers impacting Forward Air's valuation are summarized below:
Gross Profit
594.2 M
Profit Margin
(0.31)
Market Capitalization
1 B
Enterprise Value Revenue
1.3739
Revenue
2.2 B
There are over one hundred nineteen available fundamental signals for Forward Air, which can be analyzed over time and compared to other ratios. Investors should ensure to verify all of Forward Air's prevailing performance against the performance from 2010 to 2024 to make sure the company is sustainable down the road. The current year's Market Cap is expected to grow to about 1.6 B. The current year's Enterprise Value is expected to grow to about 1.7 B

Forward Air Total Revenue

1.44 Billion

Check Forward Air financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Forward Air's main balance sheet or income statement drivers, such as Depreciation And Amortization of 60.3 M, Interest Expense of 33.1 M or Total Revenue of 1.4 B, as well as many indicators such as Price To Sales Ratio of 1.42, Dividend Yield of 0.0123 or PTB Ratio of 2.03. Forward financial statements analysis is a perfect complement when working with Forward Air Valuation or Volatility modules.
  
Check out the analysis of Forward Air Correlation against competitors.
For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.

Forward Air Balance Sheet

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Total Assets3.1 B3 B1 B
Slightly volatile
Short and Long Term Debt Total2 B1.9 B351.6 M
Slightly volatile
Other Current Liabilities62.1 M59.1 M30.2 M
Slightly volatile
Total Current Liabilities248.9 M237.1 M106.7 M
Slightly volatile
Total Stockholder Equity802.5 M764.3 M510.2 M
Slightly volatile
Property Plant And Equipment Net388.1 M369.6 M241 M
Slightly volatile
Retained Earnings504.3 M480.3 M331.9 M
Slightly volatile
Accounts Payable47.7 M45.4 M28 M
Slightly volatile
Cash128.1 M122 M56.9 M
Pretty Stable
Non Current Assets Total2.8 B2.6 B794.3 M
Slightly volatile
Non Currrent Assets Other1.9 B1.8 B264.8 M
Slightly volatile
Cash And Short Term Investments128.1 M122 M56.9 M
Pretty Stable
Net Receivables84 M158.7 M120.6 M
Slightly volatile
Common Stock Shares Outstanding30.8 M26 M28.7 M
Very volatile
Liabilities And Stockholders Equity3.1 B3 B1 B
Slightly volatile
Non Current Liabilities Total2.1 B2 B389.7 M
Slightly volatile
Inventory1.091.152.2 M
Pretty Stable
Other Current Assets69.7 M66.4 M30.5 M
Slightly volatile
Other Stockholder Equity164.1 M283.7 M248.1 M
Slightly volatile
Total Liabilities2.3 B2.2 B496.4 M
Slightly volatile
Property Plant And Equipment Gross650.8 M619.8 M260.3 M
Slightly volatile
Total Current Assets364.4 M347 M212.3 M
Slightly volatile
Short Term Debt106.4 M101.3 M39.4 M
Slightly volatile
Current Deferred Revenue18.4 M31.2 M23 M
Slightly volatile
Common Stock Total Equity279.6 K304.8 K273.5 K
Slightly volatile
Common Stock279.8 K257 K270.3 K
Pretty Stable
Intangible Assets68.5 M134.8 M94.4 M
Slightly volatile
Other Assets62.6 M59.6 M21.8 M
Slightly volatile
Long Term Debt1.9 B1.8 B283.1 M
Slightly volatile
Property Plant Equipment152.6 M286.4 M193.2 M
Slightly volatile
Good Will292.6 M278.7 M181.8 M
Slightly volatile
Other Liabilities133 M126.7 M65.6 M
Slightly volatile
Net Tangible Assets992.5 M945.2 M375.2 M
Slightly volatile
Retained Earnings Total Equity355.2 M501.5 M336.9 M
Slightly volatile
Long Term Debt Total128.7 M122.6 M58.2 M
Slightly volatile
Capital Surpluse178.9 M311.5 M173.6 M
Slightly volatile
Capital Lease Obligations149.8 M142.7 M41.2 M
Slightly volatile
Deferred Long Term Liabilities34.7 M58.8 M33.6 M
Slightly volatile
Non Current Liabilities Other32.7 M47.1 M29.9 M
Slightly volatile
Short and Long Term Debt9.3 M12.6 M8.8 M
Very volatile
Net Invested Capital2.7 B2.6 B889.7 M
Slightly volatile
Net Working Capital120.3 M109.9 M106.9 M
Slightly volatile
Capital Stock217.2 K257 K275.1 K
Slightly volatile

Forward Air Income Statement

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Total Revenue1.4 B1.4 B1.1 B
Slightly volatile
Gross Profit203.2 M330.2 M243.8 M
Slightly volatile
Other Operating Expenses663 M1.3 B926.4 M
Slightly volatile
Operating Income74.8 M88.2 M99.9 M
Slightly volatile
EBIT92.6 M88.2 M103.2 M
Slightly volatile
EBITDA152.9 M145.6 M138.6 M
Slightly volatile
Cost Of Revenue1.1 B1 B822.6 M
Slightly volatile
Total Operating Expenses184.6 M299.3 M148.6 M
Slightly volatile
Income Before Tax71.2 M56.6 M95.9 M
Slightly volatile
Net Income175.7 M167.4 M84.2 M
Slightly volatile
Income Tax Expense22.7 M13.8 M27.8 M
Pretty Stable
Selling General Administrative47.6 M50.1 M40.8 M
Very volatile
Net Income Applicable To Common Shares233.3 M222.2 M91.1 M
Slightly volatile
Net Income From Continuing Ops78.7 M42.8 M72.1 M
Slightly volatile
Non Recurring34 M38.2 M41.6 M
Slightly volatile
Tax Provision13.1 M13.8 M26.8 M
Pretty Stable
Interest Income2.1 M3.1 M2.2 M
Slightly volatile
Reconciled Depreciation48.2 M57.4 M42.8 M
Slightly volatile
Extraordinary Items12.7 M14.3 M15.6 M
Slightly volatile
Selling And Marketing Expenses36 M40.5 M44.1 M
Slightly volatile

Forward Air Cash Flow Statement

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Dividends Paid13 M25 M16.2 M
Slightly volatile
Capital Expenditures26.9 M30.7 M32.7 M
Pretty Stable
Total Cash From Operating Activities190.5 M181.4 M119.9 M
Slightly volatile
Net Income48.5 M42.8 M68 M
Slightly volatile
End Period Cash Flow2 B2 B308.5 M
Slightly volatile
Begin Period Cash Flow31.3 M45.8 M47.3 M
Pretty Stable
Change To Netincome36.1 M34.4 M20.8 M
Slightly volatile

Financial Ratios

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Price To Sales Ratio1.421.18851.6466
Slightly volatile
Dividend Yield0.01230.01530.0103
Slightly volatile
PTB Ratio2.032.13173.3885
Pretty Stable
Days Sales Outstanding52.7142.252145.5187
Slightly volatile
Book Value Per Share30.9729.493318.4079
Slightly volatile
Free Cash Flow Yield0.09710.09250.0525
Slightly volatile
Operating Cash Flow Per Share7.356.99994.4067
Slightly volatile
Stock Based Compensation To Revenue0.010.00840.0085
Slightly volatile
Capex To Depreciation0.580.53521.1672
Slightly volatile
PB Ratio2.032.13173.3885
Pretty Stable
EV To Sales1.482.51911.7533
Very volatile
Free Cash Flow Per Share6.15.81423.1957
Slightly volatile
ROIC0.02420.02550.1253
Slightly volatile
Inventory Turnover42.3644.59351
Slightly volatile
Net Income Per Share6.786.45823.1261
Slightly volatile
Payables Turnover21.7622.905229.8972
Very volatile
Sales General And Administrative To Revenue0.03470.03660.0554
Slightly volatile
Average Inventory0.40.450.49
Slightly volatile
Research And Ddevelopement To Revenue0.00170.00150.0016
Slightly volatile
Capex To Revenue0.02130.02240.0385
Slightly volatile
Cash Per Share4.944.70692.0344
Slightly volatile
POCF Ratio8.538.981614.7324
Very volatile
Interest Coverage2.652.79479.2878
Slightly volatile
Payout Ratio0.140.14940.2345
Very volatile
Capex To Operating Cash Flow0.160.16940.3232
Slightly volatile
PFCF Ratio16.6510.813224.7875
Slightly volatile
Days Payables Outstanding19.4215.935213.1032
Very volatile
Income Quality4.454.23772.073
Slightly volatile
ROE0.20.2190.163
Pretty Stable
EV To Operating Cash Flow21.1819.036616.5217
Slightly volatile
PE Ratio9.259.734923.4019
Pretty Stable
Return On Tangible Assets0.120.06520.1597
Slightly volatile
EV To Free Cash Flow17.3122.918726.0657
Pretty Stable
Earnings Yield0.0870.10270.0505
Slightly volatile
Intangibles To Total Assets0.20.13880.3267
Very volatile
Current Ratio1.391.46372.799
Slightly volatile
Tangible Book Value Per Share14.2113.53638.3147
Slightly volatile
Receivables Turnover6.228.63868.0966
Pretty Stable
Graham Number68.7465.464935.4056
Slightly volatile
Shareholders Equity Per Share30.9729.493318.4079
Slightly volatile
Debt To Equity2.542.41740.4529
Slightly volatile
Capex Per Share1.231.18571.2096
Pretty Stable
Revenue Per Share55.5452.897638.9168
Slightly volatile
Interest Debt Per Share76.1472.514212.3097
Slightly volatile
Debt To Assets0.650.62010.1583
Slightly volatile
Enterprise Value Over EBITDA22.5323.713214.0379
Slightly volatile
Short Term Coverage Ratios3.023.1829132
Slightly volatile
Price Earnings Ratio9.259.734923.4019
Pretty Stable
Operating Cycle54.2242.252146.6148
Slightly volatile
Price Book Value Ratio2.032.13173.3885
Pretty Stable
Days Of Payables Outstanding19.4215.935213.1032
Very volatile
Dividend Payout Ratio0.140.14940.2345
Very volatile
Price To Operating Cash Flows Ratio8.538.981614.7324
Very volatile
Price To Free Cash Flows Ratio16.6510.813224.7875
Slightly volatile
Pretax Profit Margin0.03930.04130.0997
Slightly volatile
Ebt Per Ebit0.730.64210.944
Slightly volatile
Operating Profit Margin0.06110.06440.1038
Slightly volatile
Effective Tax Rate0.390.24430.3151
Slightly volatile
Company Equity Multiplier4.093.89861.773
Slightly volatile
Long Term Debt To Capitalization0.740.70080.1743
Slightly volatile
Total Debt To Capitalization0.740.70740.1905
Slightly volatile
Return On Capital Employed0.03060.03220.1656
Slightly volatile
Debt Equity Ratio2.542.41740.4529
Slightly volatile
Ebit Per Revenue0.06110.06440.1038
Slightly volatile
Quick Ratio1.391.46372.7754
Slightly volatile
Dividend Paid And Capex Coverage Ratio2.063.25532.2689
Slightly volatile
Net Income Per E B T3.12.95470.9931
Slightly volatile
Cash Ratio0.710.51440.9212
Slightly volatile
Cash Conversion Cycle25.3126.316832.8789
Slightly volatile
Operating Cash Flow Sales Ratio0.0880.13230.1142
Slightly volatile
Days Of Sales Outstanding52.7142.252145.5187
Slightly volatile
Free Cash Flow Operating Cash Flow Ratio0.870.83060.6788
Slightly volatile
Cash Flow Coverage Ratios0.09330.098234.9985
Slightly volatile
Price To Book Ratio2.032.13173.3885
Pretty Stable
Fixed Asset Turnover3.663.70824.5058
Very volatile
Capital Expenditure Coverage Ratio6.25.90363.7014
Slightly volatile
Price Cash Flow Ratio8.538.981614.7324
Very volatile
Enterprise Value Multiple22.5323.713214.0379
Slightly volatile
Debt Ratio0.650.62010.1583
Slightly volatile
Cash Flow To Debt Ratio0.09330.098234.9985
Slightly volatile
Price Sales Ratio1.421.18851.6466
Slightly volatile
Return On Assets0.05340.05620.1033
Slightly volatile
Asset Turnover0.440.46011.3524
Slightly volatile
Net Profit Margin0.06140.12210.0759
Pretty Stable
Gross Profit Margin0.420.24090.2667
Pretty Stable
Price Fair Value2.032.13173.3885
Pretty Stable
Return On Equity0.20.2190.163
Pretty Stable

Forward Air Valuation Data

Trends
Current ValueLast YearHistorical Average 10 Year Trend
Market Cap1.6 B1.6 B1.5 B
Slightly volatile
Enterprise Value1.7 B1.6 B1.5 B
Slightly volatile

Forward Fundamental Market Drivers

Cash And Short Term Investments122 M

Forward Upcoming Events

14th of February 2024
Upcoming Quarterly Report
View
6th of May 2024
Next Financial Report
View
31st of December 2023
Next Fiscal Quarter End
View
14th of February 2024
Next Fiscal Year End
View
30th of September 2023
Last Quarter Report
View
31st of December 2022
Last Financial Announcement
View

About Forward Air Financial Statements

Forward Air stakeholders use historical fundamental indicators, such as Forward Air's revenue or net income, to determine how well the company is positioned to perform in the future. Although Forward Air investors may analyze each financial statement separately, they are all interrelated. For example, changes in Forward Air's assets and liabilities are reflected in the revenues and expenses on Forward Air's income statement, which ultimately affect the company's gains or losses. Understanding these patterns can help in making the right long-term investment decisions in Forward Air. Please read more on our technical analysis and fundamental analysis pages.
Last ReportedProjected for Next Year
Current Deferred Revenue31.2 M18.4 M
Total Revenue1.4 B1.4 B
Cost Of Revenue1 B1.1 B
Stock Based Compensation To Revenue 0.01  0.01 
Sales General And Administrative To Revenue 0.04  0.03 
Capex To Revenue 0.02  0.02 
Revenue Per Share 52.90  55.54 
Ebit Per Revenue 0.06  0.06 

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When determining whether Forward Air is a strong investment it is important to analyze Forward Air's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Forward Air's future performance. For an informed investment choice regarding Forward Stock, refer to the following important reports:
How To Invest In Forward
Details
Is Forward Stock a good investment?
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What is Forward Air's Net Worth?
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Check out the analysis of Forward Air Correlation against competitors.
For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.
You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Is Air Freight & Logistics space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Forward Air. If investors know Forward will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Forward Air listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
1.45
Earnings Share
(29.26)
Revenue Per Share
81.783
Quarterly Revenue Growth
0.924
Return On Assets
0.0296
The market value of Forward Air is measured differently than its book value, which is the value of Forward that is recorded on the company's balance sheet. Investors also form their own opinion of Forward Air's value that differs from its market value or its book value, called intrinsic value, which is Forward Air's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Forward Air's market value can be influenced by many factors that don't directly affect Forward Air's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
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Z Score
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Piotroski
F Score
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Beneish
M Score
Details
Financial
Analysis
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Buy or Sell
Advice
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Earnings
Projections
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Please note, there is a significant difference between Forward Air's value and its price as these two are different measures arrived at by different means. Investors typically determine if Forward Air is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Forward Air's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
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