US · FWRD
Forward Air Corporation
- Sector
- Industrials · Integrated Freight & Logistics
- Headquarters
- Greeneville, TN 37745
- Website
- forwardaircorp.com
Price · as of 2025-12-31
$21.33
Market cap 790.27M
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $91.57 | +329.3% |
| Intrinsic Value(DCF) | $10.17 | -52.32% |
| Graham-Dodd Method(GD) | — | — |
| Graham Formula(GF) | — | — |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | $30.04 | $42.74 | $86.85 | $12.28 | $29.99 |
| 2012 | $34.14 | $43.81 | $44.80 | $14.59 | $30.43 |
| 2013 | $40.31 | $45.27 | $11.14 | $14.52 | $34.75 |
| 2014 | $48.75 | $45.78 | $139.63 | $13.17 | $53.73 |
| 2015 | $38.73 | $35.66 | $291.94 | $11.66 | $53.89 |
| 2016 | $44.06 | $33.82 | $47.48 | $7.23 | $9.49 |
| 2017 | $52.35 | $38.02 | $29.92 | $16.86 | $56.87 |
| 2018 | $58.67 | $43.60 | $108.15 | $18.50 | $86.31 |
| 2019 | $54.05 | $36.21 | $0.00 | $17.36 | $1.48 |
| 2020 | $90.46 | $50.64 | $0.00 | $3.91 | $10.60 |
| 2021 | $98.35 | $45.86 | $0.00 | $18.84 | $66.00 |
| 2022 | $104.33 | $71.36 | $106.49 | $38.35 | $203.54 |
| 2023 | $30.41 | $64.85 | $0.24 | $36.56 | $0.00 |
| 2024 | $20.70 | $73.64 | $387.74 | $0.00 | $0.00 |
| 2025 | $25.43 | $91.57 | $506.21 | $0.00 | $0.00 |
AI valuation
Our deep-learning model estimates Forward Air Corporation's (FWRD) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $91.57
- Current price
- $21.33
- AI upside
- +329.3%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$10.17
-52.32% upside
Graham-Dodd
—
— upside
Graham Formula
—
— upside
Peer comparison
Same-industry comparables, ranked by market cap.
| Basic Info | Model Valuation | Core Valuation | Profitability | Leverage & Liquidity | Growth | Cash Flow | Dividends | Enterprise Value | Risk | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ticker | Company Name | Price | Market Cap | AI Upside | DCF Upside | GD Upside | GF Upside | P/E | P/B | P/S | EV/EBITDA | PEG | P/TBV | Gross Margin | Operating Margin | Net Margin | ROE | ROIC | ROA | Debt/Equity | Interest Coverage | Current Ratio | Quick Ratio | Net Debt/EBITDA | EPS Growth | Sales Growth | FCF Growth | FCF Yield | Op Cash Flow Ratio | Cash ROIC | Dividend Yield | Dividend Payout | Shareholder Yield | EV/EBIT | EV/FCF | EV/Sales | Altman Z-Score |
| FWRD | Forward Air Corporation | $21.33 | 790.27M | +329% | -52% | — | — | -7.31 | 6.95 | 0.32 | 17.02 | — | -0.60 | 20.48% | 1.46% | -4.32% | -68.43% | 1.48% | -3.90% | 21.94 | 0.20 | 1.22 | 1.06 | 12.79 | -8827.00% | 84.00% | -11358.00% | 1.94% | 0.10 | 0.64% | 0.00% | 0.00% | 0.11% | 86.98 | 207.51 | 1.27 | 0.95 |
| ASPN | Aspen Aerogels, Inc. | $3.12 | 257.86M | +27,332% | -58% | — | +4,480% | — | 1.15 | 1.00 | -30.88 | — | 1.15 | 16.97% | -18.96% | -143.69% | 0.00% | -13.74% | 0.00% | 0.33 | -0.01 | 3.90 | 3.10 | 12.61 | -288824.00% | -4011.00% | -10000.00% | 0.00% | 0.00 | 0.00% | 0.00% | — | 20.32% | -3.75 | — | 0.71 | 1.73 |
| CODI | Compass Diversified | $7.49 | 563.52M | +327% | -61% | — | — | — | 1.25 | 0.29 | -19.30 | — | -0.41 | 43.47% | 2.28% | -12.08% | 0.00% | 1.33% | 0.00% | 4.25 | 0.24 | 2.42 | 0.77 | -14.79 | -142609.00% | 479.00% | -5887.00% | -9.29% | -0.02 | -1.60% | 0.00% | — | 302.26% | 55.37 | -46.14 | 1.26 | 0.39 |
| CYRX | Cryoport, Inc. | $8.42 | 421.58M | +592% | -65% | — | — | -2.65 | 0.76 | 1.30 | -4.41 | -1.92 | 1.69 | 42.59% | -49.37% | -42.69% | -25.76% | -27.45% | -13.82% | 0.62 | -20.93 | 5.29 | 4.76 | -3.10 | 13763.00% | -170.00% | -2646.00% | -11.06% | -0.25 | -8.00% | 0.00% | 0.00% | 54.09% | -2.54 | -8.71 | 1.25 | -0.64 |
| EH | EHang Holdings Limited | $12.27 | 443.75M | +117% | +2,494% | — | — | -23.64 | 5.68 | 11.74 | -22.15 | -62.36 | 5.70 | 59.20% | -62.25% | -50.37% | -39.30% | -406.23% | -21.05% | 0.24 | -85.32 | 2.89 | 2.56 | 1.84 | 3790.00% | 29402.00% | -22205.00% | 2.19% | 0.34 | 167.86% | 0.00% | 0.00% | 5.94% | -15.77 | 38.16 | 9.81 | 3.80 |
| FIP | FTAI Infrastructure Inc. | $5.81 | 675.09M | +4% | +447% | — | — | -2.81 | -5.00 | 1.46 | 2.00 | — | -1.32 | 0.00% | 0.00% | -51.82% | -119.01% | 0.00% | -6.41% | -0.55 | 0.00 | 0.25 | 0.22 | -1.01 | -1691.00% | 5159.00% | 2029.00% | -16.13% | -0.06 | -12.97% | 1.89% | -5.30% | 258.03% | — | -4.12 | 0.97 | -0.25 |
| HTLD | Heartland Express, Inc. | $11.03 | 854.25M | +153% | -60% | -80% | -15% | -16.50 | 1.15 | 1.07 | 9.83 | -21.61 | 2.38 | -0.95% | -7.68% | -6.51% | -6.65% | -6.46% | -4.15% | 0.21 | -5.38 | 1.04 | 0.85 | 1.39 | 7632.00% | -2308.00% | -10000.00% | 0.00% | 0.00 | 0.00% | 0.00% | 0.00% | 6.11% | -16.30 | — | 1.25 | 2.83 |
| NX | Quanex Building Products … | $20.53 | 943.12M | -2% | -66% | — | — | -3.23 | 1.11 | 0.44 | -19.04 | — | -8.58 | 27.17% | -10.55% | -13.65% | -28.88% | -11.72% | -11.70% | 1.18 | -3.48 | 2.04 | 1.00 | -9.33 | -70333.00% | 4381.00% | 9769.00% | 12.63% | 0.59 | 6.18% | 1.84% | -5.90% | 8.00% | -8.18 | 15.52 | 0.86 | 1.29 |
| SNCY | Sun Country Airlines Hold… | $19.68 | 1.05B | +41% | -44% | -36% | -36% | 19.12 | 1.62 | 0.90 | 6.79 | — | 3.06 | 66.93% | 8.93% | 4.69% | 8.83% | 7.62% | 3.19% | 0.95 | 2.73 | 0.82 | 0.64 | 2.22 | 0.00% | 474.00% | -2853.00% | 8.32% | 0.35 | 8.46% | 0.00% | 0.00% | 10.77% | 13.59 | 16.28 | 1.21 | 1.55 |
| TE | T1 Energy Inc | $6.16 | 946.58M | — | -87% | — | — | -0.44 | 0.83 | 66.88 | -13.13 | -0.08 | -1.65 | 41.74% | -2524.24% | -15300.88% | -103.54% | -9.50% | -43.56% | 3.01 | — | 1.41 | 0.18 | -10.04 | 52745.00% | — | -4428.00% | -78.09% | -0.25 | -24.45% | 0.00% | 0.00% | 0.00% | -11.28 | -5.45 | 284.67 | -0.68 |
| VSTS | Vestis Corporation | $7.87 | 1.04B | +201% | -61% | — | — | -24.89 | 1.16 | 0.37 | 12.52 | — | -3.51 | 26.50% | 2.36% | -1.47% | -4.55% | 2.60% | -1.38% | 1.64 | 0.70 | 2.08 | 0.47 | 7.27 | -29375.00% | -253.00% | -9853.00% | 0.58% | 0.16 | 0.26% | 1.38% | -34.40% | 1.38% | 37.10 | 414.32 | 0.87 | 1.47 |
About Forward Air Corporation
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The 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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. This segment also offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Intermodal segment provides intermodal container drayage services; and contract, and container freight station warehouse and handling services. It 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 founded in 1981 and is headquartered in Greeneville, Tennessee.
- CEO
- Shawn Stewart
- Employees
- 6.32K
- Beta
- 1.32
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($10.17 ÷ $21.33) − 1 = -52.32% (DCF, example).