Forward Net Income vs Free Cash Flow Analysis

FWRD Stock

USD 33.73 0.34 1.02%

Forward Air financial indicator trend analysis is much more than just examining Forward Air latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Forward Air is a good investment. Please check the relationship between Forward Air Net Income and its Free Cash Flow accounts. 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.

Net Income vs Free Cash Flow

Net Income vs Free Cash Flow Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Forward Air Net Income account and Free Cash Flow. At this time, the significance of the direction appears to have almost identical trend.

The correlation between Forward Air's Net Income and Free Cash Flow is 0.9. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Free Cash Flow in the same time period over historical financial statements of Forward Air, assuming nothing else is changed. The correlation between historical values of Forward Air's Net Income and Free Cash Flow is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Income of Forward Air are associated (or correlated) with its Free Cash Flow. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Free Cash Flow has no effect on the direction of Net Income i.e., Forward Air's Net Income and Free Cash Flow go up and down completely randomly.

Correlation Coefficient

0.9

Relationship Direction	Positive
Relationship Strength	Very Strong

View All Relationships

Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Forward Air financial statement analysis. It represents the amount of money remaining after all of Forward Air operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Free Cash Flow

The amount of cash a company generates after accounting for cash outflows to support operations and maintain its capital assets.

Most indicators from Forward Air's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators 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 fundamental ratios indicators, 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.The current year's Enterprise Value is expected to grow to about 1.7 B, whereas Selling General Administrative is forecasted to decline to about 47.6 M.

	2021	2022	2023	2024 (projected)
Gross Profit	365.3M	546.8M	330.2M	203.2M
Total Revenue	1.7B	2.0B	1.4B	1.4B

Gross Profit Total Revenue

Forward Air fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Current Deferred Revenue	Common Stock Total Equity	Common Stock
Total Assets		0.97	0.73	0.9	0.8	0.75	0.97	0.75	0.76	0.56	1.0	0.94	0.56	0.32	-0.01	0.98	-0.05	0.83	0.08	0.99	0.96	0.84	0.78	0.29	0.26	0.14
Short Long Term Debt Total	0.97		0.63	0.81	0.65	0.61	1.0	0.62	0.62	0.6	0.98	0.99	0.6	0.13	-0.09	1.0	-0.12	0.74	-0.08	1.0	0.91	0.73	0.72	0.17	0.13	0.0
Other Current Liab	0.73	0.63		0.73	0.79	0.64	0.64	0.72	0.78	0.21	0.72	0.59	0.21	0.46	0.06	0.64	0.11	0.8	0.43	0.66	0.67	0.7	0.54	0.26	0.29	0.21
Total Current Liabilities	0.9	0.81	0.73		0.85	0.92	0.82	0.73	0.91	0.36	0.89	0.73	0.36	0.58	-0.08	0.83	0.17	0.94	0.15	0.86	0.9	0.88	0.94	0.57	0.25	0.16
Total Stockholder Equity	0.8	0.65	0.79	0.85		0.9	0.65	0.95	0.9	0.36	0.78	0.59	0.36	0.7	0.31	0.67	0.03	0.82	0.53	0.7	0.81	0.9	0.7	0.45	0.63	0.56
Property Plant And Equipment Net	0.75	0.61	0.64	0.92	0.9		0.62	0.78	0.94	0.29	0.72	0.5	0.29	0.77	0.01	0.63	0.13	0.87	0.29	0.67	0.78	0.9	0.83	0.7	0.39	0.33
Net Debt	0.97	1.0	0.64	0.82	0.65	0.62		0.61	0.63	0.55	0.98	0.99	0.55	0.14	-0.11	1.0	-0.11	0.74	-0.06	1.0	0.91	0.72	0.72	0.17	0.11	-0.02
Retained Earnings	0.75	0.62	0.72	0.73	0.95	0.78	0.61		0.77	0.5	0.73	0.58	0.5	0.57	0.49	0.63	-0.08	0.72	0.49	0.65	0.75	0.87	0.55	0.28	0.77	0.7
Accounts Payable	0.76	0.62	0.78	0.91	0.9	0.94	0.63	0.77		0.22	0.74	0.52	0.22	0.79	-0.03	0.64	0.14	0.92	0.37	0.68	0.74	0.89	0.79	0.72	0.34	0.27
Cash	0.56	0.6	0.21	0.36	0.36	0.29	0.55	0.5	0.22		0.54	0.61	1.0	-0.14	0.19	0.59	-0.14	0.38	-0.29	0.58	0.54	0.63	0.29	-0.03	0.35	0.27
Non Current Assets Total	1.0	0.98	0.72	0.89	0.78	0.72	0.98	0.73	0.74	0.54		0.96	0.54	0.28	-0.02	0.99	-0.06	0.8	0.07	0.99	0.96	0.81	0.77	0.26	0.23	0.11
Non Currrent Assets Other	0.94	0.99	0.59	0.73	0.59	0.5	0.99	0.58	0.52	0.61	0.96		0.61	0.02	-0.05	0.99	-0.14	0.64	-0.09	0.98	0.88	0.66	0.63	0.05	0.13	-0.01
Cash And Short Term Investments	0.56	0.6	0.21	0.36	0.36	0.29	0.55	0.5	0.22	1.0	0.54	0.61		-0.14	0.19	0.59	-0.14	0.38	-0.29	0.58	0.54	0.63	0.29	-0.03	0.35	0.27
Net Receivables	0.32	0.13	0.46	0.58	0.7	0.77	0.14	0.57	0.79	-0.14	0.28	0.02	-0.14		0.02	0.15	0.19	0.59	0.64	0.2	0.34	0.6	0.53	0.76	0.45	0.41
Common Stock Shares Outstanding	-0.01	-0.09	0.06	-0.08	0.31	0.01	-0.11	0.49	-0.03	0.19	-0.02	-0.05	0.19	0.02		-0.09	-0.05	-0.12	0.46	-0.09	0.05	0.13	-0.16	-0.34	0.81	0.88
Non Current Liabilities Total	0.98	1.0	0.64	0.83	0.67	0.63	1.0	0.63	0.64	0.59	0.99	0.99	0.59	0.15	-0.09		-0.1	0.75	-0.06	1.0	0.92	0.75	0.72	0.19	0.14	0.01
Inventory	-0.05	-0.12	0.11	0.17	0.03	0.13	-0.11	-0.08	0.14	-0.14	-0.06	-0.14	-0.14	0.19	-0.05	-0.1		0.13	0.05	-0.07	0.15	0.06	0.26	0.36	0.04	0.07
Other Current Assets	0.83	0.74	0.8	0.94	0.82	0.87	0.74	0.72	0.92	0.38	0.8	0.64	0.38	0.59	-0.12	0.75	0.13		0.12	0.78	0.77	0.89	0.87	0.56	0.23	0.15
Other Stockholder Equity	0.08	-0.08	0.43	0.15	0.53	0.29	-0.06	0.49	0.37	-0.29	0.07	-0.09	-0.29	0.64	0.46	-0.06	0.05	0.12		-0.04	0.12	0.21	0.03	0.14	0.62	0.6
Total Liab	0.99	1.0	0.66	0.86	0.7	0.67	1.0	0.65	0.68	0.58	0.99	0.98	0.58	0.2	-0.09	1.0	-0.07	0.78	-0.04		0.94	0.77	0.76	0.23	0.15	0.02
Property Plant And Equipment Gross	0.96	0.91	0.67	0.9	0.81	0.78	0.91	0.75	0.74	0.54	0.96	0.88	0.54	0.34	0.05	0.92	0.15	0.77	0.12	0.94		0.83	0.79	0.35	0.33	0.22
Total Current Assets	0.84	0.73	0.7	0.88	0.9	0.9	0.72	0.87	0.89	0.63	0.81	0.66	0.63	0.6	0.13	0.75	0.06	0.89	0.21	0.77	0.83		0.77	0.54	0.5	0.42
Short Term Debt	0.78	0.72	0.54	0.94	0.7	0.83	0.72	0.55	0.79	0.29	0.77	0.63	0.29	0.53	-0.16	0.72	0.26	0.87	0.03	0.76	0.79	0.77		0.55	0.15	0.07
Current Deferred Revenue	0.29	0.17	0.26	0.57	0.45	0.7	0.17	0.28	0.72	-0.03	0.26	0.05	-0.03	0.76	-0.34	0.19	0.36	0.56	0.14	0.23	0.35	0.54	0.55		0.05	0.03
Common Stock Total Equity	0.26	0.13	0.29	0.25	0.63	0.39	0.11	0.77	0.34	0.35	0.23	0.13	0.35	0.45	0.81	0.14	0.04	0.23	0.62	0.15	0.33	0.5	0.15	0.05		0.98
Common Stock	0.14	0.0	0.21	0.16	0.56	0.33	-0.02	0.7	0.27	0.27	0.11	-0.01	0.27	0.41	0.88	0.01	0.07	0.15	0.6	0.02	0.22	0.42	0.07	0.03	0.98

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Forward Air Account Relationship Matchups

Forward Air fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	990.9M	1.0B	1.1B	1.2B	3.0B	3.1B
Short Long Term Debt Total	225.8M	243.2M	320.1M	277.8M	1.9B	2.0B
Other Current Liab	5.3M	42.3M	18.7M	67.7M	59.1M	62.1M
Total Current Liabilities	137.2M	172.1M	164.7M	169.4M	237.1M	248.9M
Total Stockholder Equity	577.2M	547.3M	593.7M	707.2M	764.3M	802.5M
Property Plant And Equipment Net	364.7M	313.2M	367.3M	390.9M	369.6M	388.1M
Net Debt	161.1M	203.0M	282.8M	232.0M	1.8B	1.9B
Retained Earnings	350.0M	304.1M	334.9M	436.1M	480.3M	504.3M
Accounts Payable	30.0M	38.4M	44.8M	50.1M	45.4M	47.7M
Cash	64.7M	40.3M	37.3M	45.8M	122.0M	128.1M
Non Current Assets Total	754.6M	798.2M	835.0M	903.8M	2.6B	2.8B
Non Currrent Assets Other	41.0M	95.0M	46.3M	738K	1.8B	1.9B
Cash And Short Term Investments	64.7M	40.3M	37.3M	45.8M	122.0M	128.1M
Net Receivables	150.2M	156.5M	216.2M	188.2M	158.7M	84.0M
Common Stock Shares Outstanding	28.3M	27.7M	27.3M	26.9M	26.0M	30.8M
Liabilities And Stockholders Equity	990.9M	1.0B	1.1B	1.2B	3.0B	3.1B
Non Current Liabilities Total	276.5M	328.4M	359.5M	331.4M	2.0B	2.1B
Inventory	2.2M	2.1M	21.0M	1.0	1.15	1.09
Other Current Assets	21.4M	49.2M	51.6M	70.3M	66.4M	69.7M
Other Stockholder Equity	226.9M	242.9M	258.5M	270.9M	283.7M	164.1M
Total Liab	413.7M	500.4M	524.2M	500.8M	2.2B	2.3B
Property Plant And Equipment Gross	364.7M	380.5M	219.1M	249.1M	619.8M	650.8M
Total Current Assets	236.3M	249.5M	282.8M	304.3M	347.0M	364.4M
Short Term Debt	52.0M	91.0M	101.2M	51.6M	101.3M	106.4M
Common Stock Total Equity	279K	273K	270K	265K	304.8K	279.6K
Common Stock	279K	273K	270K	265K	257K	279.8K
Intangible Assets	127.8M	145.0M	154.7M	154.8M	134.8M	68.5M
Other Assets	41.0M	31.0M	1K	51.8M	59.6M	62.6M
Long Term Debt	67.3M	112.4M	165.0M	106.6M	1.8B	1.9B
Property Plant Equipment	213.0M	189.9M	367.3M	249.1M	286.4M	152.6M
Good Will	221.1M	245.0M	266.8M	306.2M	278.7M	292.6M
Other Liab	102.8M	130.7M	93.0M	110.1M	126.7M	133.0M
Net Tangible Assets	329.8M	272.2M	172.2M	822.0M	945.2M	992.5M
Retained Earnings Total Equity	350.0M	304.1M	334.9M	436.1M	501.5M	355.2M
Long Term Debt Total	72.2M	117.4M	155.5M	106.6M	122.6M	128.7M
Capital Surpluse	226.9M	242.9M	258.5M	270.9M	311.5M	178.9M
Capital Lease Obligations	4.9M	5.0M	148.9M	161.8M	142.7M	149.8M
Deferred Long Term Liab	43.9M	42.0M	43.4M	51.1M	58.8M	34.7M

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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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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.

You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.

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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Forward Net Income vs Free Cash Flow Analysis

Net Income vs Free Cash Flow

Net Income vs Free Cash Flow Correlation Analysis

Correlation Coefficient

Net Income

Free Cash Flow

Forward Air fundamental ratios Correlations

Forward Air Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Forward Air fundamental ratios Accounts

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COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Non Current Assets Total	+ 1.0	Total Assets
Net Debt	+ 1.0	Short Long Term Debt Total
Non Current Liabilities Total	+ 1.0	Short Long Term Debt Total
Total Liab	+ 1.0	Short Long Term Debt Total
Non Current Liabilities Total	+ 1.0	Net Debt
Total Liab	+ 1.0	Net Debt

Current Deferred Revenue	- 0.34	Common Stock Shares Outstanding
Other Stockholder Equity	- 0.29	Cash And Short Term Investments
Other Stockholder Equity	- 0.29	Cash
Short Term Debt	- 0.16	Common Stock Shares Outstanding
Inventory	- 0.14	Cash And Short Term Investments
Net Receivables	- 0.14	Cash And Short Term Investments