Forward Historical Financial Ratios

FWRD Stock

USD 36.69 0.70 1.94%

Forward Air is recently reporting on over 110 different financial statement accounts. To analyze all of these accounts together requires a lot of time and effort. However, using these accounts to derive some meaningful and actionable indicators such as PTB Ratio of 2.03 or Days Sales Outstanding of 52.71 will help investors to properly organize and evaluate Forward Air financial condition quickly.

Quick Ratio Current Ratio

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Forward Air. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.

About Forward Financial Ratios Analysis

Forward AirFinancial ratios are relationships based on a company's financial information. They can serve as useful tools to evaluate Forward Air investment potential. Financial ratio analysis can also be defined as the process of presenting financial ratios, which are mathematical indicators calculated by comparing key financial information appearing on Forward financial statements. Financial ratios are useful tools that help investors analyze and compare relationships between different pieces of financial information across Forward Air history.

Forward Air Financial Ratios Chart

At present, Forward Air's Days Sales Outstanding is projected to drop slightly based on the last few years of reporting. The current year's Book Value Per Share is expected to grow to 30.97, whereas PTB Ratio is forecasted to decline to 2.03.

Price To Sales Ratio Dividend Yield Ptb Ratio Days Sales Outstanding Invested Capital Tangible Asset Value

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Price To Sales Ratio

Price to Sales Ratio is figured by comparing Forward Air stock price to its revenues. An advantage to using Price to Sales ratio is that it is based on Forward Air sales, a figure that is much harder to manipulate than other Forward Air multiples. Because sales tend to be more stable P/S ratio can be a good tool for screening cyclical companies fluctuating earnings patterns. A valuation ratio that compares a company's stock price to its revenues, calculated by dividing the company's market cap by its total sales or revenue over a 12-month period.

Dividend Yield

Dividend Yield is Forward Air dividend as a percentage of Forward Air stock price. Forward Air dividend yield is a measure of Forward Air stock productivity, which can be interpreted as interest rate earned on an Forward Air investment. A financial ratio that shows how much a company pays out in dividends each year relative to its stock price, calculated as annual dividends per share divided by price per share.

Ptb Ratio

Price-to-Book ratio, a financial valuation metric used to compare a company's current market price to its book value. It provides insight into the value that market participants place on the company's equity relative to its net asset value.

Invested Capital

Invested capital represents the total cash investment that shareholders and debt holders have contributed to Forward Air. There are two different methods for calculating Forward Air invested capital: operating approach and financing approach. Understanding Forward Air invested capital allows investors to calculate measures of performance such as return on invested capital or return on capital employed.

Tangible Asset Value

The total value of a company's physical, tangible assets, excluding intangible assets like patents and trademarks.

Most ratios from Forward Air's fundamentals are interrelated and interconnected. However, analyzing fundamentals ratios one by one will only give a small insight into Forward Air current financial condition. On the other hand, looking into the entire matrix of fundamentals ratios, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Forward Air. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.At present, Forward Air's Days Sales Outstanding is projected to drop slightly based on the last few years of reporting. The current year's Book Value Per Share is expected to grow to 30.97, whereas PTB Ratio is forecasted to decline to 2.03.

	2021	2022	2023 (projected)
Dividend Yield	0.006987	0.009207	0.0153
Price To Sales Ratio	1.98	1.42	1.19

Dividend Yield Price To Sales Ratio

Forward Air fundamentals Correlations

	Price To Sales Ratio	Dividend Yield	Ptb Ratio	Days Sales Outstanding	Book Value Per Share	Free Cash Flow Yield	Operating Cash Flow Per Share	Capex To Depreciation	Pb Ratio	Ev To Sales	Free Cash Flow Per Share	Roic	Inventory Turnover	Net Income Per Share	Days Of Inventory On Hand	Payables Turnover	Average Inventory	Capex To Revenue	Cash Per Share	Pocfratio	Interest Coverage	Payout Ratio	Capex To Operating Cash Flow	Pfcf Ratio	Days Payables Outstanding	Income Quality
Price To Sales Ratio		-0.72	0.72	0.45	-0.67	-0.74	-0.59	0.77	0.72	0.56	-0.63	0.43	0.1	-0.46	0.09	-0.29	0.32	0.75	-0.21	0.5	0.61	-0.04	0.75	0.83	0.28	-0.44
Dividend Yield	-0.72		-0.77	-0.11	0.56	0.69	0.4	-0.39	-0.77	-0.04	0.42	-0.65	-0.09	0.42	-0.12	-0.04	-0.61	-0.32	0.44	-0.61	-0.46	-0.06	-0.41	-0.55	0.1	0.69
Ptb Ratio	0.72	-0.77		0.16	-0.39	-0.66	-0.22	0.62	1.0	0.49	-0.27	0.6	-0.17	-0.19	0.14	-0.21	0.48	0.46	-0.52	0.64	0.17	-0.02	0.51	0.78	0.15	-0.56
Days Sales Outstanding	0.45	-0.11	0.16		-0.36	-0.38	-0.53	0.48	0.16	0.24	-0.56	-0.1	0.06	-0.27	0.02	-0.53	-0.25	0.51	-0.13	0.2	0.2	-0.1	0.59	0.6	0.59	-0.01
Book Value Per Share	-0.67	0.56	-0.39	-0.36		0.71	0.85	-0.66	-0.39	-0.1	0.86	-0.49	-0.62	0.87	-0.13	-0.08	-0.67	-0.73	0.46	-0.22	-0.76	-0.19	-0.76	-0.54	0.1	0.49
Free Cash Flow Yield	-0.74	0.69	-0.66	-0.38	0.71		0.79	-0.53	-0.66	-0.3	0.82	-0.36	-0.35	0.71	-0.33	-0.01	-0.67	-0.53	0.57	-0.79	-0.45	-0.25	-0.77	-0.82	0.13	0.67
Operating Cash Flow Per Share	-0.59	0.4	-0.22	-0.53	0.85	0.79		-0.42	-0.22	-0.14	0.99	-0.08	-0.56	0.91	-0.32	-0.06	-0.49	-0.53	0.32	-0.47	-0.6	-0.3	-0.69	-0.56	0.1	0.4
Capex To Depreciation	0.77	-0.39	0.62	0.48	-0.66	-0.53	-0.42		0.62	0.52	-0.49	0.49	0.24	-0.37	-0.1	-0.31	0.25	0.97	-0.36	0.08	0.46	-0.08	0.88	0.8	0.37	-0.25
Pb Ratio	0.72	-0.77	1.0	0.16	-0.39	-0.66	-0.22	0.62		0.49	-0.27	0.6	-0.17	-0.19	0.14	-0.21	0.48	0.46	-0.52	0.64	0.17	-0.02	0.51	0.78	0.15	-0.56
Ev To Sales	0.56	-0.04	0.49	0.24	-0.1	-0.3	-0.14	0.52	0.49		-0.17	-0.01	-0.34	0.07	0.02	-0.52	-0.07	0.47	0.08	0.29	0.06	-0.18	0.41	0.58	0.48	0.01
Free Cash Flow Per Share	-0.63	0.42	-0.27	-0.56	0.86	0.82	0.99	-0.49	-0.27	-0.17		-0.11	-0.59	0.91	-0.26	-0.04	-0.51	-0.59	0.38	-0.47	-0.59	-0.3	-0.76	-0.62	0.09	0.4
Roic	0.43	-0.65	0.6	-0.1	-0.49	-0.36	-0.08	0.49	0.6	-0.01	-0.11		0.19	-0.12	-0.16	-0.07	0.61	0.41	-0.44	0.08	0.54	-0.38	0.37	0.32	-0.03	-0.76
Inventory Turnover	0.1	-0.09	-0.17	0.06	-0.62	-0.35	-0.56	0.24	-0.17	-0.34	-0.59	0.19		-0.7	-0.21	0.54	0.5	0.39	-0.4	-0.15	0.52	0.3	0.48	0.05	-0.53	-0.2
Net Income Per Share	-0.46	0.42	-0.19	-0.27	0.87	0.71	0.91	-0.37	-0.19	0.07	0.91	-0.12	-0.7		-0.33	-0.33	-0.66	-0.48	0.47	-0.35	-0.53	-0.56	-0.61	-0.41	0.36	0.32
Days Of Inventory On Hand	0.09	-0.12	0.14	0.02	-0.13	-0.33	-0.32	-0.1	0.14	0.02	-0.26	-0.16	-0.21	-0.33		-0.07	0.21	-0.14	-0.17	0.52	-0.13	0.43	-0.04	0.21	0.0	-0.18
Payables Turnover	-0.29	-0.04	-0.21	-0.53	-0.08	-0.01	-0.06	-0.31	-0.21	-0.52	-0.04	-0.07	0.54	-0.33	-0.07		0.39	-0.27	-0.1	-0.04	0.08	0.51	-0.19	-0.34	-0.94	0.02
Average Inventory	0.32	-0.61	0.48	-0.25	-0.67	-0.67	-0.49	0.25	0.48	-0.07	-0.51	0.61	0.5	-0.66	0.21	0.39		0.25	-0.66	0.43	0.45	0.32	0.4	0.28	-0.57	-0.7
Capex To Revenue	0.75	-0.32	0.46	0.51	-0.73	-0.53	-0.53	0.97	0.46	0.47	-0.59	0.41	0.39	-0.48	-0.14	-0.27	0.25		-0.33	0.0	0.55	-0.02	0.92	0.73	0.32	-0.19
Cash Per Share	-0.21	0.44	-0.52	-0.13	0.46	0.57	0.32	-0.36	-0.52	0.08	0.38	-0.44	-0.4	0.47	-0.17	-0.1	-0.66	-0.33		-0.35	-0.01	-0.43	-0.49	-0.44	0.19	0.39
Pocfratio	0.5	-0.61	0.64	0.2	-0.22	-0.79	-0.47	0.08	0.64	0.29	-0.47	0.08	-0.15	-0.35	0.52	-0.04	0.43	0.0	-0.35		0.04	0.24	0.28	0.62	-0.11	-0.55
Interest Coverage	0.61	-0.46	0.17	0.2	-0.76	-0.45	-0.6	0.46	0.17	0.06	-0.59	0.54	0.52	-0.53	-0.13	0.08	0.45	0.55	-0.01	0.04		-0.2	0.51	0.28	-0.11	-0.51
Payout Ratio	-0.04	-0.06	-0.02	-0.1	-0.19	-0.25	-0.3	-0.08	-0.02	-0.18	-0.3	-0.38	0.3	-0.56	0.43	0.51	0.32	-0.02	-0.43	0.24	-0.2		0.08	0.03	-0.48	0.3
Capex To Operating Cash Flow	0.75	-0.41	0.51	0.59	-0.76	-0.77	-0.69	0.88	0.51	0.41	-0.76	0.37	0.48	-0.61	-0.04	-0.19	0.4	0.92	-0.49	0.28	0.51	0.08		0.84	0.17	-0.36
Pfcf Ratio	0.83	-0.55	0.78	0.6	-0.54	-0.82	-0.56	0.8	0.78	0.58	-0.62	0.32	0.05	-0.41	0.21	-0.34	0.28	0.73	-0.44	0.62	0.28	0.03	0.84		0.33	-0.43
Days Payables Outstanding	0.28	0.1	0.15	0.59	0.1	0.13	0.1	0.37	0.15	0.48	0.09	-0.03	-0.53	0.36	0.0	-0.94	-0.57	0.32	0.19	-0.11	-0.11	-0.48	0.17	0.33		0.17
Income Quality	-0.44	0.69	-0.56	-0.01	0.49	0.67	0.4	-0.25	-0.56	0.01	0.4	-0.76	-0.2	0.32	-0.18	0.02	-0.7	-0.19	0.39	-0.55	-0.51	0.3	-0.36	-0.43	0.17

Click cells to compare fundamentals

Forward Air Account Relationship Matchups

Forward Air fundamentals Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Price To Sales Ratio	1.21	1.4	1.67	1.98	1.42	1.19
Ptb Ratio	3.42	3.88	5.54	3.97	2.13	2.03
Days Sales Outstanding	35.25	44.99	47.46	34.81	42.25	52.71
Book Value Per Share	20.47	19.81	21.86	26.41	29.49	30.97
Free Cash Flow Yield	0.0663	0.0301	0.0247	0.0777	0.0925	0.0971
Operating Cash Flow Per Share	5.73	3.04	4.43	9.67	7.0	7.35
Stock Based Compensation To Revenue	0.008442	0.00869	0.006316	0.005402	0.008386	0.01
Capex To Depreciation	0.73	0.55	0.99	0.86	0.54	0.58
Pb Ratio	3.42	3.88	5.54	3.97	2.13	2.03
Ev To Sales	1.6	1.22	1.51	2.15	2.52	1.48
Free Cash Flow Per Share	4.64	2.31	2.99	8.15	5.81	6.1
Roic	0.16	0.14	0.0711	0.24	0.0255	0.0242
Inventory Turnover	606.53	470.91	526.51	49.54	44.59	42.36
Net Income Per Share	3.09	1.91	3.9	7.21	6.46	6.78
Payables Turnover	44.17	27.12	28.93	28.48	22.91	21.76
Sales General And Administrative To Revenue	0.0322	0.0275	0.0254	0.0252	0.0366	0.0347
Research And Ddevelopement To Revenue	0.001215	0.001617	0.00144	0.001296	0.001491	0.001748
Capex To Revenue	0.0217	0.016	0.0235	0.0206	0.0224	0.0213
Cash Per Share	2.3	1.46	1.37	1.71	4.71	4.94
Pocfratio	12.21	25.24	27.34	10.84	8.98	8.53
Interest Coverage	43.83	16.21	36.72	51.77	2.79	2.65
Pfcf Ratio	15.08	33.26	40.52	12.87	10.81	16.65
Days Payables Outstanding	8.26	13.46	12.62	12.82	15.94	19.42
Income Quality	1.85	1.59	1.04	1.34	4.24	4.45
Ev To Operating Cash Flow	13.21	27.66	29.69	11.74	19.04	21.18
Pe Ratio	22.64	40.24	31.06	14.54	9.73	9.25
Ev To Free Cash Flow	16.31	36.43	44.0	13.93	22.92	17.31
Earnings Yield	0.0442	0.0249	0.0322	0.0688	0.1	0.087
Intangibles To Total Assets	0.41	0.35	0.37	0.38	0.14	0.2
Net Debt To E B I T D A	1.08	1.83	1.42	0.8	12.53	13.15
Current Ratio	2.69	1.72	1.45	1.8	1.46	1.39
Tangible Book Value Per Share	8.1	5.69	6.34	9.19	13.54	14.21
Receivables Turnover	10.35	8.11	7.69	10.48	8.64	6.22
Graham Number	37.72	29.17	43.79	65.47	65.46	68.74

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When determining whether Forward Air is a strong investment it is important to analyze Forward Air's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Forward Air's future performance. For an informed investment choice regarding Forward Stock, refer to the following important reports:

How To Invest In Forward

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Is Forward Stock a good investment?

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What is Forward Air's Net Worth?

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Largest Air Freight & Logistics Companies

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Largest Integrated Freight & Logistics Companies

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For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.

You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.

Is Air Freight & Logistics space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Forward Air. If investors know Forward will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Forward Air listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.

Quarterly Earnings Growth

1.45

Earnings Share

(29.29)

Revenue Per Share

81.783

Quarterly Revenue Growth

0.924

Return On Assets

0.0296

The market value of Forward Air is measured differently than its book value, which is the value of Forward that is recorded on the company's balance sheet. Investors also form their own opinion of Forward Air's value that differs from its market value or its book value, called intrinsic value, which is Forward Air's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Forward Air's market value can be influenced by many factors that don't directly affect Forward Air's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.

Please note, there is a significant difference between Forward Air's value and its price as these two are different measures arrived at by different means. Investors typically determine if Forward Air is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Forward Air's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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Price To Sales Ratio	Dividend Yield
Ptb Ratio	Days Sales Outstanding
Book Value Per Share	Free Cash Flow Yield
Invested Capital	Operating Cash Flow Per Share
Average Payables	Stock Based Compensation To Revenue
Capex To Depreciation	Pb Ratio
Ev To Sales	Free Cash Flow Per Share
Roic	Inventory Turnover
Net Income Per Share	Days Of Inventory On Hand
Payables Turnover	Sales General And Administrative To Revenue
Average Inventory	Research And Ddevelopement To Revenue
Capex To Revenue	Cash Per Share
Pocfratio	Interest Coverage
Payout Ratio	Capex To Operating Cash Flow
Pfcf Ratio	Days Payables Outstanding
Net Current Asset Value	Income Quality
Roe	Tangible Asset Value
Ev To Operating Cash Flow	Pe Ratio
Return On Tangible Assets	Ev To Free Cash Flow
Earnings Yield	Intangibles To Total Assets
Net Debt To E B I T D A	Current Ratio
Tangible Book Value Per Share	Receivables Turnover
Graham Number	Shareholders Equity Per Share
Debt To Equity	Capex Per Share
Graham Net Net	Average Receivables
Revenue Per Share	Interest Debt Per Share
Debt To Assets	Enterprise Value Over E B I T D A
Short Term Coverage Ratios	Price Earnings Ratio
Operating Cycle	Price Book Value Ratio
Price Earnings To Growth Ratio	Days Of Payables Outstanding
Dividend Payout Ratio	Price To Operating Cash Flows Ratio
Price To Free Cash Flows Ratio	Pretax Profit Margin
Ebt Per Ebit	Operating Profit Margin
Effective Tax Rate	Company Equity Multiplier
Long Term Debt To Capitalization	Total Debt To Capitalization
Return On Capital Employed	Debt Equity Ratio
Ebit Per Revenue	Quick Ratio
Dividend Paid And Capex Coverage Ratio	Net Income Per E B T
Cash Ratio	Cash Conversion Cycle
Operating Cash Flow Sales Ratio	Days Of Inventory Outstanding
Days Of Sales Outstanding	Free Cash Flow Operating Cash Flow Ratio
Cash Flow Coverage Ratios	Price To Book Ratio
Fixed Asset Turnover	Capital Expenditure Coverage Ratio
Price Cash Flow Ratio	Enterprise Value Multiple
Debt Ratio	Cash Flow To Debt Ratio
Price Sales Ratio	Return On Assets
Asset Turnover	Net Profit Margin
Gross Profit Margin	Price Fair Value
Return On Equity

Forward Historical Financial Ratios

About Forward Financial Ratios Analysis

Forward Air Financial Ratios Chart

Price To Sales Ratio

Dividend Yield

Ptb Ratio

Invested Capital

Tangible Asset Value

Forward Air fundamentals Correlations

Forward Air Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Forward Air fundamentals Accounts

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COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Pb Ratio	+ 1.0	Ptb Ratio
Free Cash Flow Per Share	+ 0.99	Operating Cash Flow Per Share
Capex To Revenue	+ 0.97	Capex To Depreciation
Capex To Operating Cash Flow	+ 0.92	Capex To Revenue
Net Income Per Share	+ 0.91	Operating Cash Flow Per Share
Net Income Per Share	+ 0.91	Free Cash Flow Per Share

Days Payables Outstanding	- 0.94	Payables Turnover
Pfcf Ratio	- 0.82	Free Cash Flow Yield
Pocfratio	- 0.79	Free Cash Flow Yield
Capex To Operating Cash Flow	- 0.77	Free Cash Flow Yield
Pb Ratio	- 0.77	Dividend Yield
Ptb Ratio	- 0.77	Dividend Yield