Forward Air Corporation

Forward Air Corporation

FWRDยทNASDAQ

$9.67

-5.2%
IndustrialsIntegrated Freight & Logistics

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The 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 final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. This segment also offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. The Intermodal segment provides intermodal container drayage services; and contract, and container freight station warehouse and handling services. It 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 founded in 1981 and is headquartered in Greeneville, Tennessee.

At a Glance

Live Snapshot
Market Cap$305.81M
EPS-3.4800
P/E Ratio-2.78
Earnings Date07/23/2026
Forward Air Corporation

Forward Air Corporation Fair Value Envelope

FWRD ยท NASDAQ

Our analysis suggests that FWRD has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $9.67, this represents a potential HIDDEN relative to our calculated worth for Forward Air Corporation.

Intrinsic Value
Current Price: $9.67

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$350.6B
+ Cash & Equivalents$106.0M
Firm Value$350.7B
- Debt$2.2B
Equity Value$348.5B
/ Shares Outstanding31,245,325B
DCF Value$11.2K
UNDERVALUED BY 115259%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$88.8M
$177.5M
$355.1M
$710.1M
$1.4B
$2.8B
$5.7B
$11.4B
$22.7B
$45.4B
Maintenance CapEx
-$11.6M
-$23.3M
-$46.6M
-$93.2M
-$186.3M
-$372.7M
-$745.4M
-$1.5B
-$3.0B
-$6.0B
Owner Earnings
$77.1M
$154.2M
$308.5M
$617.0M
$1.2B
$2.5B
$4.9B
$9.9B
$19.7B
$39.5B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$71.4M
$132.2M
$244.9M
$453.5M
$839.8M
$1.6B
$2.9B
$5.3B
$9.9B
$18.3B
Terminal Value represents 88.7% of Enterprise Value