Stocktoria
FORWARD AIR CORP FWRD
FORWARD AIR CORP (FWRD) earns a Piotroski F-score of 4/9 (mixed financial health), with an Altman Z″ in the distress zone. It pays a dividend yielding 5.32% (safety: no dividend). FY2025 revenue was $2.5B at a -4.3% net margin.
Quality score trend · recomputed for each fiscal year
Each year's score is computed from that year's filing — a rising Piotroski F or Altman Z″ means improving financial health, a fall is worth a look.
Analyst price target
Wall Street analyst consensus — a sentiment gauge, not our scoring.
How it ranks in Transportation & Utilities · percentile among 348 companies
Percentile vs other Transportation & Utilities companies we cover — e.g. “stronger than 90%” means only 10% score higher on that measure.
Piotroski F breakdown · 4/9 tests passed
- Positive return on assets
- Positive operating cash flow
- Rising ROA
- Cash flow exceeds net income
- Lower long-term debt
- Rising current ratio
- No share dilution
- Rising gross margin
- Rising asset turnover
Altman Z″ components · distress zone
| Component | Value |
|---|---|
| Working capital / assets | 0.034 |
| Retained earnings / assets | -0.164 |
| EBIT / assets | 0.013 |
| Equity / liabilities | 0.063 |
Sector peers · similar-size Transportation & Utilities companies compare side by side →
| Ticker | Company | Piotroski F | Altman Z″ | P / E | Revenue growth |
|---|---|---|---|---|---|
| FWRD | FORWARD AIR CORP | 4/9 | -0.16 | — | +0.8% |
| HUBG | Hub Group, Inc. | 6/9 | 4.57 | 25.7 | -6.1% |
| RLGT | RADIANT LOGISTICS, INC | 5/9 | 3.65 | 25.4 | +12.5% |
| SLGB | Smart Logistics Global Ltd | 1/9 | 5.57 | — | -86.8% |
| JYD | Jayud Global Logistics Ltd | 4/9 | -0.91 | — | +8.7% |
| PSIG | PS International Group Ltd. | 2/9 | -3.35 | — | -39% |
| NCEW | New Century Logistics (BVI) Ltd | 3/9 | -3.55 | — | -15.5% |
All Transportation & Utilities companies →
About FORWARD AIR CORP
Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States, Mexico, Europe, Asia, and Canada. The company operates through three segments: Expedited Freight, Omni Logistics, and Intermodal. Its Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. This segment offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Omni Logistics segment offers full suite of global logistics services, such as air and ocean freight consolidation and forwarding, customs brokerage, warehousing and distribution, value-added services, time-definite transportation services, and other supply chain solutions. Its Intermodal segment provides intermodal container drayage services; and contract and container freight station warehouse and handling services. The company serves freight forwarders, third-party logistics companies, integrated air cargo carriers and passenger, passenger and cargo airlines, steamship lines, and retailers. Forward Air Corporation was incorporated in 1981 and is headquartered in Dallas, Texas.
FAQ
Is FWRD financially healthy?
FORWARD AIR CORP's Piotroski F-score is 4/9 (8–9 is excellent, 0–3 weak), and its Altman Z″ distress score is in the distress zone.
Does FWRD pay a dividend, and is it safe?
Yes. FORWARD AIR CORP pays a dividend yielding about 5.32% with a None payout ratio, rated “no dividend” for safety.
How profitable is FWRD?
In FY2025, FORWARD AIR CORP had a net margin of -4.3% and a return on equity of -66.7%.
Is FWRD overvalued or undervalued?
FORWARD AIR CORP trades at about 3.0× trailing earnings — below its 10-year norm (10-year range 6.9×–85.3×, median 22.9×). Stocktoria reports the data, not buy/sell advice.
What is the analyst price target for FWRD?
The average Wall-Street price target for FORWARD AIR CORP is $18.33, about 5.9% below the recent price, from 3 analysts.
Is FWRD a good stock to buy?
Stocktoria doesn't give buy or sell advice, but here is the data on FORWARD AIR CORP: a Piotroski F-score of 4/9, an Altman Z″ in the distress zone, a dividend yield of 5.32%. Weigh these quality and valuation signals against your own goals.
Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.