FWRD - Intrinsic Value and Financial Analysis - Forward Air Corporation

Forward Air Corporation FWRD

Industrials - Integrated Freight & Logistics - NASDAQ - US

Watchlist

$ 34.52

-4.3 %

$ 1 B

Market Cap

-1.18

P/E

BALANCE SHEET

2.98 B ASSETS

Growth Rates

1Year 146.63%

3Years 41.68%

5Years 31.41%

7Years 24.54%

10Years 19.39%

2.22 B LIABILITIES

Growth Rates

1Year 342.32%

3Years 64.19%

5Years 60.66%

7Years 48.03%

10Years 41.18%

764 M EQUITY

Growth Rates

1Year 8.06%

3Years 11.77%

5Years 6.68%

7Years 6.28%

10Years 5.78%

BALANCE SHEET DECOMPOSITION

Balance Sheet Decomposition Forward Air Corporation

2.98 B ASSETS
2.22 B LIABILITIES

Current Assets	347 M
Cash & Short-Term Investments	122 M
Receivables	159 M
Other Current Assets	66.4 M
Non-Current Assets	2.63 B
Long-Term Investments	0
PP&E	370 M
Other Non-Current Assets	2.26 B

Current Liabilities	237 M
Accounts Payable	45.4 M
Short-Term Debt	101 M
Other Current Liabilities	90.3 M
Non-Current Liabilities	1.98 B
Long-Term Debt	1.89 B
Other Non-Current Liabilities	89.3 M

Balance Sheet

Millions

	Dec-2023	Dec-2022	Dec-2021	Dec-2020	Dec-2019	Dec-2018	Dec-2017	Dec-2016	Dec-2015	Dec-2014	Dec-2013	Dec-2012	Dec-2011	Dec-2010	Dec-2009	Feb-2009	Feb-2008	Dec-2006	Dec-2005	Dec-2004	Dec-2003	Dec-2002	Dec-2001	Dec-2000	Dec-1999	Dec-1998	Dec-1997	Dec-1996	Dec-1995	Dec-1994	Dec-1993
ASSETS
Cash & Cash Equivalents	122.0	45.8	37.3	40.3	64.7	25.7	3.9	8.5	33.3	41.4	127.4	112.2	58.8	74.5	42.0	22.1	4.9	8.2	0.3	78 K	83.5	33.6	19.4	15.6	6.0	0.5	0.7	28 K	3.8	1.0	4.2
Short Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.5	61.6	79.0	111.6	3.0	20.3	9.2	0	0	0	0	0	0	0	0
Receivables	158.7	188.2	216.2	156.5	136.2	161.4	152.4	116.6	128.0	95.3	76.5	75.3	70.9	62.8	55.7	60.6	59.7	51.9	50.9	42.1	31.5	30.3	28.8	35.5	27.3	19.8	17.7	23.7	17.8	18.1	12.6
Inventory	0	1	0	21.0	2.1	2.2	1.4	1.3	1.3	1.1	1.1	0.9	0.9	0.8	0.9	0.7	0.6	0.5	0.6	0.4	0.4	0.4	0.4	0.4	0.6	0.4	0.7	0.6	0.4	0.3	0.2
Other Current Assets	66.4	70.3	51.6	49.2	33.2	11.8	10.0	9.9	10.8	12.1	15.4	10.1	9.1	7.9	8.5	8.2	6.2	5.3	5.9	5.2	4.8	4.1	4.7	3.4	2.4	2.8	9.6	4.0	3.8	2.2	1.0
Total Current Assets	347.0	304.3	282.8	249.5	236.3	201.1	162.7	136.3	173.5	150.0	220.4	198.4	139.7	146.0	107.1	91.6	71.5	127.6	136.7	159.4	123.2	88.8	62.4	54.9	36.4	23.4	35.8	28.2	25.8	21.6	18.0
PP&E	369.6	390.9	367.3	313.2	364.7	209.9	206.1	200.2	187.3	172.5	154.8	133.6	129.9	126.4	128.7	123.0	103.0	53.3	47.2	37.3	32.9	37.2	42.7	45.1	32.9	29.9	79.2	70.3	72.1	56.0	26.3
Intangible Assets	134.8	154.8	154.7	145.0	127.8	113.7	111.2	106.7	127.8	72.7	40.1	22.1	26.7	31.3	35.8	40.7	30.0	10.7	12.0	0	0	0.5	0.9	15.1	9.5	0	0	0	0	0	0
Goodwill	278.7	306.2	266.8	245.0	221.1	199.1	191.7	184.7	205.6	144.4	88.5	43.3	43.3	43.3	43.3	50.2	36.1	15.6	15.6	15.6	15.6	15.6	15.6	0	0	0	0	0	0	0	0
Long Term Investments	0	0	(43.4)	(42.0)	(43.9)	(37.2)	(29.4)	(41.9)	(39.9)	(25.2)	(26.9)	(12.4)	(11.1)	(6.1)	(5.8)	0	(7.4)	(6.6)	0	(7.0)	(6.2)	(7.5)	14.4	0	0	0	0	0	0	0	0
Other Long Term Assets	1 807.2	0.7	46.3	95.0	41.0	36.5	15.9	13.5	6.0	2.2	2.5	1.8	1.6	1.8	1.6	2.0	1.4	5.8	1.0	2.3	3.4	3.5	(6.7)	0.9	0.9	3.5	3.3	0.6	0.4	0.4	4.7
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	2 979.5	1 208.1	1 117.8	1 047.8	990.9	760.2	687.7	641.3	700.2	541.8	506.3	399.2	341.2	348.8	316.6	307.5	241.9	213.0	212.6	214.6	175.1	145.5	137.0	116.0	79.6	56.8	118.3	99.1	98.3	78.0	49.0
LIABILITIES
Accounts Payable	45.4	50.1	44.8	38.4	25.4	34.6	30.7	18.0	23.3	20.6	16.3	11.2	12.4	10.7	10.3	11.6	11.7	7.9	12.6	10.0	7.4	6.7	5.1	9.7	7.4	4.1	72 K	5.5	5.1	4.9	3.1
Short Term Debt	101.3	51.6	101.2	91.0	37.3	0.6	0.7	28.4	56.2	0.6	69 K	0.6	1.1	1.3	1.8	3.1	0.8	80 K	1.5	78 K	29 K	0.5	0.9	1.0	1.3	5.2	5.5	11.3	9.3	5.9	1.4
Other Current Liabilities	59.1	67.7	18.7	42.3	74.4	39.5	28.4	31.5	29.5	21.0	18.3	16.2	16.0	15.6	16.2	11.5	13.1	11.1	11.8	15.6	12.2	11.5	12.1	8.4	7.5	5.8	28.1	5.4	5.6	3.9	4.4
Total Current Liabilities	237.1	169.4	164.7	172.1	137.2	74.7	60.1	77.9	109.0	43.4	34.6	27.9	33.9	27.6	29.5	26.2	26.8	19.1	26.0	25.7	20.3	18.7	18.3	19.1	16.9	16.4	33.9	22.4	20.0	14.7	8.9
Long Term Debt	1 888.8	215.2	377.4	283.1	141.9	47.4	41.0	1.4	28.6	2.5	3 K	58 K	0.3	50.9	52.2	53.0	31.5	0.8	0.8	0.9	0.9	1.9	4.5	7.2	4.8	20.1	14.3	35.8	35.8	28.3	12.0
Deferred Tax Income	0	51.1	43.4	41.9	43.9	37.2	29.4	41.9	39.9	25.2	26.9	12.4	11.1	6.1	5.8	8.8	7.4	6.6	7.0	7.0	6.2	7.5	7.6	6.2	3.1	1.2	11.6	8.3	5.8	3.3	0.8
Other Liabilities	89.3	116.2	(17.9)	45.3	134.6	47.7	23.7	21.0	52.5	9.6	8.9	7.1	8.9	8.1	4.5	3.1	4.5	1.3	0	0	0	(0.9)	0	0	0	0	8.1	0	100 K	100 K	0
Total Liabilities	2 215.3	500.8	524.2	500.4	413.7	207.0	154.2	142.2	190.1	78.2	70.4	47.5	54.2	92.7	92.0	91.1	70.2	27.8	33.8	33.5	27.4	27.2	30.4	32.5	24.7	37.7	67.9	57.8	61.7	46.2	21.7
EQUITY
Common Stock	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.1	60 K	60 K	0	0	0
Retained Earnings	480.3	436.1	334.9	304.1	350.0	342.7	337.8	319.3	348.9	333.2	327.8	286.7	270.5	231.5	207.7	205.9	171.4	184.9	178.5	144.4	110.0	84.2	62.5	42.7	19.2	3.2	23.6	15.0	11.0	6.5	2.5
Other Accumulative Comprehensive Income/Loss	0	0	0	0	0	(204.0)	(193.1)	(178.8)	(155.9)	(132.7)	(116.3)	(105.6)	(93.3)	(87.3)	0	0	0	0	0	4 K	1 K	9 K	29 K	(19.1)	(14.3)	(10.2)	(35.9)	(27.2)	(17.6)	(10.5)	(5.2)
Total Equity	764.3	707.2	593.7	547.3	577.2	553.2	533.5	499.1	510.1	463.6	435.9	351.7	286.9	256.1	224.7	216.4	171.7	185.2	178.8	181.0	147.7	118.3	106.6	83.5	55.0	19.1	50.5	41.3	36.6	31.8	27.3
Total Liabilities and Equity	2 979.5	1 208.1	1 117.8	1 047.8	990.9	760.2	687.7	641.3	700.2	541.8	506.3	399.2	341.2	348.8	316.6	307.5	241.9	213.0	212.6	214.6	175.1	145.5	137.0	116.0	79.6	56.8	118.3	99.1	98.3	78.0	49.0
SHARES OUTSTANDING
Common Shares Outstanding	25.9	26.8	27.2	27.6	28.2	29.1	30.1	30.4	30.9	30.6	30.1	29.0	29.1	29.0	28.9	28.8	29.6	31.1	31.9	32.2	31.9	32.3	32.4	31.7	30.1	27.7	3.0	3.0	25.9	27.3	22.0

Balance Sheet

Premium Plan

Unlimited Plan