Company Valuation: Forward Air Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,264 2,789 1,613 933.8 781.2 489.6 - -
Change - -14.56% -42.15% -42.12% -16.34% -37.33% - -
Enterprise Value (EV) 1 3,264 2,789 3,366 2,553 2,401 2,276 2,159 489.6
Change - -14.56% 20.68% -24.16% -5.95% -5.22% -5.14% -77.32%
P/E 31.5x 14.7x 9.82x -1.09x -7.12x -7.35x -21.5x -
PBR - - 2.14x 3.97x 6.91x 5.87x 9.83x -
PEG - 0.2x -0.9x 0x 0.1x 0.2x 0.3x -
Capitalization / Revenue 1.96x 1.41x 1.18x 0.38x 0.31x 0.19x 0.19x -
EV / Revenue 1.96x 1.41x 2.46x 1.03x 0.96x 0.9x 0.85x -
EV / EBITDA 16.4x 8.9x 16.6x 8.3x 7.82x 7.56x 7.05x 1.31x
EV / EBIT 19.6x 10.4x 23.1x 15.8x 15.3x 16.3x 15.1x -
EV / FCF 38.1x 12.8x 19.5x -23.6x 137x 25.6x 19.3x -
FCF Yield 2.63% 7.83% 5.12% -4.24% 0.73% 3.91% 5.19% -
Dividend per Share 2 0.84 0.96 0.96 - - - - -
Rate of return 0.69% 0.92% 1.53% - - - - -
EPS 2 3.85 7.14 6.4 -29.66 -3.51 -2.105 -0.72 -
Distribution rate 21.8% 13.4% 15% - - - - -
Net sales 1 1,662 1,973 1,371 2,474 2,495 2,525 2,549 -
EBITDA 1 198.9 313.4 203.1 307.7 307.1 300.9 306.2 375
EBIT 1 166.7 267.7 145.7 161.4 157.4 139.4 143.4 -
Net income 1 105.9 193.2 167.4 -817 -141.7 -68.8 -35.35 -
Net Debt 1 - - 1,752 1,619 1,620 1,786 1,669 -
Reference price 2 121.09 104.89 62.87 32.25 25.00 15.48 15.48 15.48
Nbr of stocks (in thousands) 26,958 26,590 25,662 28,954 31,248 31,625 - -
Announcement Date 2/9/22 2/8/23 2/28/24 2/26/25 2/23/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-7.35x0.9x7.56x-.--% 490M
16.14x1.29x9.38x5.75% 96.99B
15.57x0.92x8.21x1.67% 74.67B
16.53x1.01x7.45x3.51% 70.94B
25.57x1.87x17.78x0.93% 23.04B
21.07x0.76x8.61x-.--% 11.97B
25.94x2.47x9.22x-.--% 8.78B
28.72x0.56x8.24x-.--% 6.05B
15.45x0.71x7.99x3.4% 5.79B
9.16x0.31x5.87x7.72% 5.72B
Average 16.68x 1.08x 9.03x 2.3% 30.44B
Weighted average by Cap. 17.35x 1.15x 9.13x 3.34%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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