FORWARD AIR CORP (FWRD)
Industrials · Asset-light transportation and logistics services · NASDAQ
An asset-light transportation and logistics provider combining regional expedited freight, international freight forwarding, and intermodal drayage services, currently navigating significant profitability challenges and a strategic review of alternatives.
What FORWARD AIR CORP does
Forward Air Corporation is an asset-light provider of transportation and logistics services operating three main segments: Expedited Freight (regional and national LTL services), Omni Logistics (domestic and international freight forwarding, fulfillment, customs brokerage across high-growth sectors), and Intermodal (first and last-mile container drayage services). The company serves customers across North and South America, Europe, and Asia with premium logistics and supply chain management solutions requiring precision execution.
Themes: ["expedited freight / LTL","freight forwarding","intermodal / drayage","contract logistics","supply chain management","asset-light logistics"]
Fundamentals
- Price$12.90 as of 2026-07-09 close
- Market cap$407M as of 2026-07-10
- 1-year return-53.3% as of 2026-07-09 close
- Net margin-3.7% as of 2026-07-10
- Gross margin+41.2% as of 2026-07-10
- ROE-75.3% as of 2026-07-10
- Debt / equity21.29 as of 2026-07-10
- Revenue growth (YoY)-3.2% as of 2026-07-10
- Revenue CAGR (3y)+14.1% SEC XBRL
- Beta1.35 as of 2026-07-10
Dividend: yield +1.5%; pays a dividend.
Key risks (from latest filing)
["The company is currently unprofitable with negative 3.71% net margin and reported net losses of $34.3M in Q1 2026; cash burn and liquidity pressure amid weak market conditions represent a significant existential risk","Debt burden of $1.69B significantly exceeds equity of $122M, creating high financial leverage and refinancing risk in a challenging freight environment","Revenue declining 3.22% YoY and stock down 53% over the past year indicate severe operational and market headwinds in the transportation and logistics sector"]
Competitors & peers
- XPO Logistics (XPO)
- J.B. Hunt Transport Services
- Werner Enterprises (WERN)
- Knight Transportation
- Saia Inc (SAIA)
- Universal Truckload Services
- ArcBest Corporation (ARCB)
- Estes Express Lines
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.