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ISIN
US3498531017
CUSIP
349853101
IPO Date
Nov 16, 1993

Highlights

EPS (TTM)
-$3.96
Total Revenue (TTM)
$2.46B
Gross Profit (TTM)
$568.61M
EBITDA (TTM)
$107.29M
Year Range
$7.86 - $32.47
Target Price
$37.00
ROA (TTM)
-3.39%
ROE (TTM)
-112.93%

Share Price Chart


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Forward Air Corporation

Performance

FWRD Performance Chart

Forward Air Corporation (FWRD) is down 61.3% since the beginning of the year. At $10 per share, FWRD is trading 70.2% below its 52-week high of $32. Investors who bought $1,000 worth of FWRD shares 5 years ago would now be looking at an investment worth $105.


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S&P 500 Index

Returns By Period

Forward Air Corporation (FWRD) has returned -61.32% so far this year and -46.25% over the past 12 months. Over the last ten years, FWRD has returned -13.56% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.


Forward Air Corporation

1D
-5.20%
1M
-40.38%
YTD
-61.32%
6M
-61.63%
1Y
-46.25%
3Y*
-54.22%
5Y*
-36.25%
10Y*
-13.56%

Benchmark (S&P 500 Index)

1D
-0.74%
1M
4.90%
YTD
10.35%
6M
10.28%
1Y
26.52%
3Y*
20.83%
5Y*
12.30%
10Y*
13.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FWRD Monthly Returns History

Based on dividend-adjusted daily data since Nov 16, 1993, FWRD's average daily return is +0.07%, while the average monthly return is +1.20%. At this rate, an investment would double in approximately 4.8 years.

Historically, 55% of months were positive and 45% were negative. The best month was Apr 1999 with a return of +69.5%, while the worst month was May 2026 at -49.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 10 months.

On a daily basis, FWRD closed higher 49% of trading days. The best single day was Sep 24, 1998 with a return of +35.8%, while the worst single day was May 8, 2026 at -43.1%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
202611.52%-9.29%-33.93%26.03%-49.76%-8.60%-61.32%
20250.00%-30.33%-10.59%-26.73%13.99%46.25%23.84%-1.18%-14.62%-26.64%22.12%8.84%-22.48%
2024-29.49%-16.24%-16.21%-29.22%-23.71%13.33%33.19%25.28%11.43%-0.20%3.85%-12.10%-48.70%
20232.82%-4.30%4.65%-2.09%-7.58%9.09%12.00%-40.19%-2.94%-6.30%-1.00%-1.04%-39.34%
2022-12.21%-2.94%-5.01%-0.83%-3.65%-1.32%14.10%-7.32%-6.99%17.29%6.37%-6.66%-12.56%
2021-6.70%19.94%3.79%-0.59%9.99%-7.37%-1.46%-0.06%-5.84%21.13%-1.60%22.62%59.42%

Benchmark Metrics

Forward Air Corporation has an annualized alpha of 6.97%, beta of 1.01, and R2 of 0.15 versus S&P 500 Index. Calculated based on daily prices since November 17, 1993.

  • This stock participated in 124.90% of S&P 500 Index downside but only 110.72% of its upside - more exposed to losses than it benefited from rallies.
  • R2 of 0.15 means this stock moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

Alpha
6.97%
Beta
1.01
0.15
Upside Capture
110.72%
Downside Capture
124.90%

Return for Risk

Risk / Return Rank

FWRD ranks 17 for risk / return — in the bottom 17% of stocks on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.


FWRD Risk / Return Rank: 1717
Overall Rank
FWRD Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
FWRD Sortino Ratio Rank: 2222
Sortino Ratio Rank
FWRD Omega Ratio Rank: 2020
Omega Ratio Rank
FWRD Calmar Ratio Rank: 1919
Calmar Ratio Rank
FWRD Martin Ratio Rank: 66
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for Forward Air Corporation (FWRD) and compare them to S&P 500 Index.


FWRDBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

-0.58

2.24

-2.82

Sortino ratio

Return per unit of downside risk

-0.40

3.07

-3.48

Omega ratio

Gain probability vs. loss probability

0.93

1.41

-0.47

Calmar ratio

Return relative to maximum drawdown

-0.62

2.93

-3.55

Martin ratio

Return relative to average drawdown

-1.47

13.52

-15.00

Dividends

Dividend History

Forward Air Corporation provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.


0.00%0.50%1.00%1.50%$0.00$0.20$0.40$0.60$0.80$1.0020152016201720182019202020212022202320242025
Dividends
Dividend Yield
PeriodTTM20252024202320222021202020192018201720162015
Dividend$0.00$0.00$0.00$0.96$0.96$1.05$0.75$0.72$0.63$0.60$0.51$0.48

Dividend yield

0.00%0.00%0.00%1.53%0.92%0.87%0.98%1.03%1.15%1.04%1.08%1.12%

Monthly Dividends

The table displays the monthly dividend distributions for Forward Air Corporation. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2025$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2023$0.00$0.00$0.24$0.00$0.24$0.00$0.00$0.24$0.00$0.00$0.24$0.00$0.96
2022$0.00$0.00$0.24$0.00$0.24$0.00$0.00$0.24$0.00$0.00$0.24$0.00$0.96
2021$0.00$0.21$0.21$0.00$0.21$0.00$0.00$0.21$0.00$0.00$0.21$0.00$1.05

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the Forward Air Corporation. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Forward Air Corporation was 93.19%, occurring on May 19, 2026. The portfolio has not yet recovered.

The current Forward Air Corporation drawdown is 92.07%.


Related event

Drawdown

Fall

Recovery

Underwater

2026 bear market2026
-93.19%May 2026
4y 4mo
4y 5moJan 2022 - now
1996 bear market1996
-67.84%Oct 1996
2y 7mo11mo 24d
3y 7moMar 1994 - Oct 1997
Financial crisis2007–2009
-66.96%Mar 2009
2y 8mo4y 4mo
7y 4dJul 2006 - Jul 2013
Dot-com crash2000–2002
-65.25%Oct 2002
2y 2mo2y 9mo
4y 11moAug 2000 - Jul 2005
1998 bear market1998
-56.94%Sep 1998
4mo 28d4mo 20d
9mo 18dApr 1998 - Jan 1999

Drawdown Indicators


FWRDBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-93.19%

-56.78%

-36.41%

Max Drawdown (1Y)

Largest decline over 1 year

-74.25%

-9.10%

-65.15%

Max Drawdown (3Y)

Largest decline over 3 years

-93.02%

-18.90%

-74.12%

Max Drawdown (5Y)

Largest decline over 5 years

-93.19%

-25.43%

-67.76%

Max Drawdown (10Y)

Largest decline over 10 years

-93.19%

-33.92%

-59.27%

Current Drawdown

Current decline from peak

-92.07%

-0.74%

-91.33%

Average Drawdown

Average peak-to-trough decline

-26.82%

-10.72%

-16.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

31.40%

1.97%

+29.43%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Financials

Financial Performance

The chart below illustrates the trends in the financial health of Forward Air Corporation over time, highlighting three key metrics: Total Revenue, Earnings Before Interest and Taxes (EBIT), and Net Income.


Annual
Quarterly

0.0

Valuation

The Valuation section provides an overview of how Forward Air Corporation is priced in the market compared to other companies in the Integrated Freight & Logistics industry. It includes key financial ratios that help investors assess whether the stock is undervalued or overvalued.


PS Ratio

This chart shows the Price-to-Sales (P/S) ratio for FWRD relative to other companies in the Integrated Freight & Logistics industry. Currently, FWRD has a P/S ratio of 0.1. This P/S ratio is low compared to the industry average. It may indicate that the stock is undervalued relative to its revenue, or that the market expects slower growth or lower margins.

Income Statement



TTM
Revenue

Total Revenue

Cost Of Revenue

Gross Profit

Operating Expenses

Selling, General & Admin Expenses

R&D Expenses

Depreciation And Amortization

Total Operating Expenses

Income

Income Before Tax

Operating Income

EBITDA

EBIT

Earnings From Continuing Operations

Net Income

Income Tax Expense

Other Non-Operating Income (Expenses)

Extraordinary Items

Discontinued Operations

Effect Of Accounting Charges

Non Recurring

Minority Interest

Other Items

Interest Income

Interest Expense

Net Interest Income

Values in undefined except per share items
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