What is Forward Air's price / earnings?

Forward Air (FWRD) reported price / earnings of 11.8× in Q1 2024.

How has Forward Air's price / earnings changed year-over-year?

Forward Air's price / earnings decreased by 21.3% year-over-year, from 15.1× to 11.8×.

What is the long-term trend for Forward Air's price / earnings?

Over 3 years (2020 to 2023), Forward Air's price / earnings has grown at a -52.0% compound annual growth rate (CAGR), from 87.3× to 9.6×.

What does price / earnings mean?

Market capitalization at the quarter end divided by trailing-twelve-month net income. The price the market pays for each dollar of trailing earnings.

Forward Air FWRD Price / earnings

Price / earnings at other companies

Old Dominion Freight LineODFL

40.4×+9.8×

C.H. Robinson WorldwideCHRW

32.7×+8.8×

FedExFDX

22.2×+9.3×

United Parcel Service, Inc.UPS

15.9×0.0×

XPO

XPOXPO

65.5×+33.1×

RXORXO

932.9×+904×

Other financials

Income statement

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Revenue$582.0M-5.1%

Operating income$20.4M+329%

Net income-$34.3M+32.2%

EPS (diluted)-$1.09+35.1%

Balance sheet

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Cash & equivalents$141.0M+20.9%

Total debt$2.2B-0.1%

Total equity$81.0M-47.6%

Total assets$2.7B-3.9%

Cash flow

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Operating cash flow$45.7M+65.6%

CapEx$6.9M-41.7%

Free cash flow$38.8M+147%

Valuation

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Market cap$451.92M-33.0%

Enterprise value$2.46B-9.2%

P/S0.2×-0.1×

Profitability

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Gross margin48.7%—

Operating margin2.2%+1.1pp

Net margin-3.7%-1.7pp

FCF margin0.6%+0.3pp

Returns & leverage

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Return on equity-77.6%-25.2pp

Debt / equity26.5×+12.6×

Current ratio1.2×+0.1×

Where this comes from

Calculated from Forward Air’s reported figures.

market cap/net income=11.8×

Based on the most recent quarter.

The official record: Forward Air’s 10-Q, filed May 7, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Forward Air's price / earnings?: Forward Air (FWRD) reported price / earnings of 11.8× in Q1 2024.
How has Forward Air's price / earnings changed year-over-year?: Forward Air's price / earnings decreased by 21.3% year-over-year, from 15.1× to 11.8×.
What is the long-term trend for Forward Air's price / earnings?: Over 3 years (2020 to 2023), Forward Air's price / earnings has grown at a -52.0% compound annual growth rate (CAGR), from 87.3× to 9.6×.
What does price / earnings mean?: Market capitalization at the quarter end divided by trailing-twelve-month net income. The price the market pays for each dollar of trailing earnings.