Company Valuation: Forward Air Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 3,264 2,789 1,613 933.8 781.2 421.6 -
Change - -14.56% -42.15% -42.12% -16.34% -46.04% -
Enterprise Value (EV) 1 3,264 2,789 3,366 2,553 2,401 2,117 2,005
Change - -14.56% 20.68% -24.16% -5.95% -11.82% -5.31%
P/E Ratio 31.5x 14.7x 9.82x -1.09x -7.12x -7.01x -20x
PBR - - 2.14x 3.97x 6.91x 5.17x 7.27x
PEG - 0.2x -0.9x 0x 0.1x 0.2x 0.3x
Capitalization / Revenue 1.96x 1.41x 1.18x 0.38x 0.31x 0.17x 0.16x
EV / Revenue 1.96x 1.41x 2.46x 1.03x 0.96x 0.84x 0.78x
EV / EBITDA 16.4x 8.9x 16.6x 8.3x 7.82x 7.04x 6.24x
EV / EBIT 19.6x 10.4x 23.1x 15.8x 15.3x 14.8x 12.9x
EV / FCF 38.1x 12.8x 19.5x -23.6x 137x 22.2x 15.7x
FCF Yield 2.63% 7.83% 5.12% -4.24% 0.73% 4.51% 6.36%
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 -1.902 -0.6675
Distribution rate 21.8% 13.4% 15% - - - -
Net sales 1 1,662 1,973 1,371 2,474 2,495 2,517 2,568
EBITDA 1 198.9 313.4 203.1 307.7 307.1 300.8 321.2
EBIT 1 166.7 267.7 145.7 161.4 157.4 142.7 155.9
Net income 1 105.9 193.2 167.4 -817 -141.7 -65.64 -23.78
Net Debt 1 - - 1,752 1,619 1,620 1,696 1,583
Reference price 2 121.09 104.89 62.87 32.25 25.00 13.33 13.33
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 Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-7.01x0.84x7.04x-.--% 422M
15.26x1.24x9x6.07% 91.89B
19.65x1.01x8.68x1.71% 80.72B
15.76x0.96x7.16x3.77% 66.42B
24.54x1.78x16.95x0.94% 21.79B
18.56x0.61x6.93x-.--% 9.62B
25.18x2.4x8.97x-.--% 8.87B
26.82x0.54x7.87x-.--% 5.72B
15.22x0.69x8.15x3.55% 5.57B
9.1x0.28x5.36x7.77% 5.52B
Average 16.31x 1.04x 8.61x 2.38% 29.65B
Weighted average by Cap. 17.73x 1.13x 8.91x 3.47%

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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