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 1,613 933.8 781.2 470.3 -
Change - -14.56% -42.15% -42.12% -16.34% -39.8% -
Enterprise Value (EV) 1 3,264 2,789 3,366 2,553 2,401 2,166 2,053
Change - -14.56% 20.68% -24.16% -5.95% -9.79% -5.19%
P/E 31.5x 14.7x 9.82x -1.09x -7.12x -7.82x -22.3x
PBR - - 2.14x 3.97x 6.91x 5.76x 8.11x
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 0.18x
EV / Revenue 1.96x 1.41x 2.46x 1.03x 0.96x 0.86x 0.8x
EV / EBITDA 16.4x 8.9x 16.6x 8.3x 7.82x 7.2x 6.39x
EV / EBIT 19.6x 10.4x 23.1x 15.8x 15.3x 15.2x 13.2x
EV / FCF 38.1x 12.8x 19.5x -23.6x 137x 22.7x 16.1x
FCF Yield 2.63% 7.83% 5.12% -4.24% 0.73% 4.41% 6.21%
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 14.87 14.87
Nbr of stocks (in thousands) 26,958 26,590 25,662 28,954 31,248 31,625 -
Announcement Date 09/02/22 08/02/23 28/02/24 26/02/25 23/02/26 - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-7.82x0.86x7.2x-.--% 470M
15.26x1.24x9.01x6.07% 91.92B
18.46x0.96x8.25x1.81% 76B
15.91x0.97x7.21x3.74% 66.23B
23.61x1.72x16.32x0.97% 21.02B
18.44x0.66x7.55x-.--% 10.44B
25.6x2.44x9.13x-.--% 8.79B
27.09x0.54x7.93x-.--% 5.77B
15.17x0.7x7.88x3.46% 5.76B
7.32x0.25x4.78x7.33% 4.99B
Average 15.90x 1.03x 8.52x 2.34% 29.14B
Weighted average by Cap. 17.33x 1.11x 8.76x 3.5%

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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