25.47 USD
-0.03 (-0.12%)
25.6 USD
+0.13 (+0.51%)
FWRD gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 23 industry peers in the Air Freight & Logistics industry. FWRD has a medium profitability rating, but doesn't score so well on its financial health evaluation. FWRD does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year FWRD has reported negative net income.
FWRD had a positive operating cash flow in the past year.
FWRD had positive earnings in 4 of the past 5 years.
FWRD had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
FWRD has a Return On Assets (-5.28%) which is in line with its industry peers.
The Return On Equity of FWRD (-105.62%) is worse than 73.91% of its industry peers.
Looking at the Return On Invested Capital, with a value of 2.33%, FWRD is in line with its industry, outperforming 56.52% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for FWRD is below the industry average of 12.34%.
The last Return On Invested Capital (2.33%) for FWRD is well below the 3 year average (8.28%), which needs to be investigated, but indicates that FWRD had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.28% | ||
| ROE | -105.62% | ||
| ROIC | 2.33% |
ROA(3y)-2.87%
ROA(5y)0.6%
ROE(3y)-123.07%
ROE(5y)-69.45%
ROIC(3y)8.28%
ROIC(5y)8.77%
1.3 Margins
The Operating Margin of FWRD (2.88%) is better than 60.87% of its industry peers.
FWRD's Operating Margin has declined in the last couple of years.
FWRD has a better Gross Margin (41.38%) than 86.96% of its industry peers.
FWRD's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 2.88% | ||
| PM (TTM) | N/A | ||
| GM | 41.38% |
OM growth 3Y-41.72%
OM growth 5Y-27.16%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.2%
GM growth 5Y-1.79%
2. Health
2.1 Basic Checks
FWRD has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for FWRD has been increased compared to 1 year ago.
FWRD has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, FWRD has about the same debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.99, we must say that FWRD is in the distress zone and has some risk of bankruptcy.
FWRD has a Altman-Z score of 0.99. This is in the lower half of the industry: FWRD underperforms 69.57% of its industry peers.
FWRD has a debt to FCF ratio of 111.57. This is a negative value and a sign of low solvency as FWRD would need 111.57 years to pay back of all of its debts.
FWRD's Debt to FCF ratio of 111.57 is fine compared to the rest of the industry. FWRD outperforms 60.87% of its industry peers.
FWRD has a Debt/Equity ratio of 12.24. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 12.24, FWRD is doing worse than 82.61% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 12.24 | ||
| Debt/FCF | 111.57 | ||
| Altman-Z | 0.99 |
ROIC/WACC0.31
WACC7.55%
2.3 Liquidity
FWRD has a Current Ratio of 1.20. This is a normal value and indicates that FWRD is financially healthy and should not expect problems in meeting its short term obligations.
FWRD has a Current ratio of 1.20. This is in the lower half of the industry: FWRD underperforms 78.26% of its industry peers.
FWRD has a Quick Ratio of 1.20. This is a normal value and indicates that FWRD is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.20, FWRD is not doing good in the industry: 73.91% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.2 | ||
| Quick Ratio | 1.2 |
3. Growth
3.1 Past
FWRD shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -343.35%.
Looking at the last year, FWRD shows a very negative growth in Revenue. The Revenue has decreased by -22.27% in the last year.
Measured over the past years, FWRD shows a quite strong growth in Revenue. The Revenue has been growing by 15.28% on average per year.
EPS 1Y (TTM)-343.35%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%76.49%
Revenue 1Y (TTM)-22.27%
Revenue growth 3Y14.17%
Revenue growth 5Y15.28%
Sales Q2Q%-3.69%
3.2 Future
Based on estimates for the next years, FWRD will show a very strong growth in Earnings Per Share. The EPS will grow by 30.50% on average per year.
Based on estimates for the next years, FWRD will show a small growth in Revenue. The Revenue will grow by 3.68% on average per year.
EPS Next Y49.47%
EPS Next 2Y41.35%
EPS Next 3Y30.5%
EPS Next 5YN/A
Revenue Next Year0%
Revenue Next 2Y2.17%
Revenue Next 3Y3.68%
Revenue Next 5YN/A
3.3 Evolution
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for FWRD. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for FWRD. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FWRD is valued a bit cheaper than 65.22% of the companies in the same industry.
65.22% of the companies in the same industry are more expensive than FWRD, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 51.42 | ||
| EV/EBITDA | 10.76 |
4.3 Compensation for Growth
A more expensive valuation may be justified as FWRD's earnings are expected to grow with 30.50% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y41.35%
EPS Next 3Y30.5%
5. Dividend
5.1 Amount
FWRD has a Yearly Dividend Yield of 1.48%.
FWRD's Dividend Yield is a higher than the industry average which is at 3.06.
FWRD's Dividend Yield is slightly below the S&P500 average, which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.48% |
5.2 History
FWRD has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DP0%
EPS Next 2Y41.35%
EPS Next 3Y30.5%
25.47
-0.03 (-0.12%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryAir Freight & Logistics
Earnings (Last)
Earnings (Next)
Inst Owners82.19%
Inst Owner Change4.36%
Ins Owners1.52%
Ins Owner Change5.17%
Market Cap795.94M
Revenue(TTM)2.50B
Net Income(TTM)-147.64M
Analysts80
Price Target34.68 (36.16%)
Short Float %19.06%
Short Ratio5
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.48% |
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-10.62%
Min EPS beat(2)-143.02%
Max EPS beat(2)121.79%
EPS beat(4)1
Avg EPS beat(4)-1581.7%
Min EPS beat(4)-6208.61%
Max EPS beat(4)121.79%
EPS beat(8)2
Avg EPS beat(8)-730.93%
EPS beat(12)3
Avg EPS beat(12)-492.02%
EPS beat(16)6
Avg EPS beat(16)-366.63%
Revenue beat(2)0
Avg Revenue beat(2)-3.3%
Min Revenue beat(2)-3.39%
Max Revenue beat(2)-3.22%
Revenue beat(4)0
Avg Revenue beat(4)-4.36%
Min Revenue beat(4)-7.04%
Max Revenue beat(4)-3.22%
Revenue beat(8)0
Avg Revenue beat(8)-6.46%
Revenue beat(12)0
Avg Revenue beat(12)-7.01%
Revenue beat(16)3
Avg Revenue beat(16)-5.06%
PT rev (1m)-4.67%
PT rev (3m)-7.27%
EPS NQ rev (1m)-4.46%
EPS NQ rev (3m)-178.57%
EPS NY rev (1m)-4.09%
EPS NY rev (3m)17.08%
Revenue NQ rev (1m)0.88%
Revenue NQ rev (3m)-1.69%
Revenue NY rev (1m)-0.23%
Revenue NY rev (3m)-1.39%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 0.32 | ||
| P/FCF | 51.42 | ||
| P/OCF | 18.3 | ||
| P/B | 5.69 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.76 |
EPS(TTM)-4.43
EYN/A
EPS(NY)0
Fwd EYN/A
FCF(TTM)0.5
FCFY1.94%
OCF(TTM)1.39
OCFY5.46%
SpS79.9
BVpS4.47
TBVpS-42.01
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.28% | ||
| ROE | -105.62% | ||
| ROCE | 3.08% | ||
| ROIC | 2.33% | ||
| ROICexc | 2.48% | ||
| ROICexgc | 7.33% | ||
| OM | 2.88% | ||
| PM (TTM) | N/A | ||
| GM | 41.38% | ||
| FCFM | 0.62% |
ROA(3y)-2.87%
ROA(5y)0.6%
ROE(3y)-123.07%
ROE(5y)-69.45%
ROIC(3y)8.28%
ROIC(5y)8.77%
ROICexc(3y)8.66%
ROICexc(5y)9.16%
ROICexgc(3y)15.75%
ROICexgc(5y)16.83%
ROCE(3y)10.95%
ROCE(5y)11.6%
ROICexgc growth 3Y-43.13%
ROICexgc growth 5Y-25.33%
ROICexc growth 3Y-51.15%
ROICexc growth 5Y-32.28%
OM growth 3Y-41.72%
OM growth 5Y-27.16%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.2%
GM growth 5Y-1.79%
F-Score3
Asset Turnover0.89
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 12.24 | ||
| Debt/FCF | 111.57 | ||
| Debt/EBITDA | 7.72 | ||
| Cap/Depr | 18.73% | ||
| Cap/Sales | 1.12% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 19.64% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.2 | ||
| Quick Ratio | 1.2 | ||
| Altman-Z | 0.99 |
F-Score3
WACC7.55%
ROIC/WACC0.31
Cap/Depr(3y)55.04%
Cap/Depr(5y)63.72%
Cap/Sales(3y)1.93%
Cap/Sales(5y)1.95%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-343.35%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%76.49%
EPS Next Y49.47%
EPS Next 2Y41.35%
EPS Next 3Y30.5%
EPS Next 5YN/A
Revenue 1Y (TTM)-22.27%
Revenue growth 3Y14.17%
Revenue growth 5Y15.28%
Sales Q2Q%-3.69%
Revenue Next Year0%
Revenue Next 2Y2.17%
Revenue Next 3Y3.68%
Revenue Next 5YN/A
EBIT growth 1Y-61.31%
EBIT growth 3Y-33.46%
EBIT growth 5Y-16.03%
EBIT Next Year84.26%
EBIT Next 3Y32.77%
EBIT Next 5YN/A
FCF growth 1Y-91.54%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-80.38%
OCF growth 3YN/A
OCF growth 5YN/A
FORWARD AIR CORP / FWRD FAQ
Can you provide the ChartMill fundamental rating for FORWARD AIR CORP?
ChartMill assigns a fundamental rating of 3 / 10 to FWRD.
What is the valuation status of FORWARD AIR CORP (FWRD) stock?
ChartMill assigns a valuation rating of 2 / 10 to FORWARD AIR CORP (FWRD). This can be considered as Overvalued.
Can you provide the profitability details for FORWARD AIR CORP?
FORWARD AIR CORP (FWRD) has a profitability rating of 4 / 10.
How financially healthy is FORWARD AIR CORP?
The financial health rating of FORWARD AIR CORP (FWRD) is 2 / 10.
What is the expected EPS growth for FORWARD AIR CORP (FWRD) stock?
The Earnings per Share (EPS) of FORWARD AIR CORP (FWRD) is expected to grow by 49.47% in the next year.