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 1,613 933.8 781.2 653.7 - -
Change - -14.56% -42.15% -42.12% -16.34% -16.33% - -
Enterprise Value (EV) 1 3,264 2,789 3,366 2,553 2,401 2,421 2,277 653.7
Change - -14.56% 20.68% -24.16% -5.95% 0.84% -5.96% -71.29%
P/E 31.5x 14.7x 9.82x -1.09x -7.12x -2.48x 176x -
PBR - - 2.14x 3.97x 6.91x -4.84x -4.92x -
PEG - 0.2x -0.9x 0x 0.1x -0x -2x -
Capitalization / Revenue 1.96x 1.41x 1.18x 0.38x 0.31x 0.25x 0.25x -
EV / Revenue 1.96x 1.41x 2.46x 1.03x 0.96x 0.93x 0.87x -
EV / EBITDA 16.4x 8.9x 16.6x 8.3x 7.82x 7.38x 6.97x 1.85x
EV / EBIT 19.6x 10.4x 23.1x 15.8x 15.3x 14.5x 13.5x 3.28x
EV / FCF 38.1x 12.8x 19.5x -23.6x 137x 28.3x 16.2x -
FCF Yield 2.63% 7.83% 5.12% -4.24% 0.73% 3.53% 6.19% -
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 -7.8 0.11 -
Distribution rate 21.8% 13.4% 15% - - - - -
Net sales 1 1,662 1,973 1,371 2,474 2,495 2,610 2,619 -
EBITDA 1 198.9 313.4 203.1 307.7 307.1 327.9 326.5 353
EBIT 1 166.7 267.7 145.7 161.4 157.4 167 169.2 199.3
Net income 1 105.9 193.2 167.4 -817 -141.7 -242.5 4.8 -
Net Debt 1 - - 1,752 1,619 1,620 1,767 1,623 -
Reference price 2 121.09 104.89 62.87 32.25 25.00 19.35 19.35 19.35
Nbr of stocks (in thousands) 26,958 26,590 25,662 28,954 31,248 33,781 - -
Announcement Date 2/9/22 A 2/8/23 A 2/28/24 A 2/26/25 A 2/23/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-2.48x0.93x7.38x - 654M
17.21x1.19x8.67x6.28% 88.91B
15.52x0.93x8.22x1.69% 75.37B
16x0.97x7.12x3.63% 70.82B
23.15x1.72x16.36x0.88% 23.23B
22.28x0.82x9.29x-.--% 12.84B
28.85x2.49x9.48x-.--% 8.94B
9.07x0.33x6.46x7.79% 6.09B
14.72x0.67x7.64x3.5% 5.83B
29.13x0.54x7.91x-.--% 5.53B
Average 17.34x 1.06x 8.85x 2.64% 29.82B
Weighted average by Cap. 17.49x 1.09x 8.76x 3.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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