Company Valuation: Forward Air Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,264 2,789 1,613 933.8 781.2 444.3 - -
Change - -14.56% -42.15% -42.12% -16.34% -43.12% - -
Enterprise Value (EV) 1 3,264 2,789 3,366 2,553 2,401 2,230 2,113 444.3
Change - -14.56% 20.68% -24.16% -5.95% -7.1% -5.25% -78.97%
P/E 31.5x 14.7x 9.82x -1.09x -7.12x -6.67x -19.5x -
PBR - - 2.14x 3.97x 6.91x 5.33x 8.92x -
PEG - 0.2x -0.9x 0x 0.1x 0.2x 0.3x -
Capitalization / Revenue 1.96x 1.41x 1.18x 0.38x 0.31x 0.18x 0.17x -
EV / Revenue 1.96x 1.41x 2.46x 1.03x 0.96x 0.88x 0.83x -
EV / EBITDA 16.4x 8.9x 16.6x 8.3x 7.82x 7.41x 6.9x 1.18x
EV / EBIT 19.6x 10.4x 23.1x 15.8x 15.3x 16x 14.7x -
EV / FCF 38.1x 12.8x 19.5x -23.6x 137x 25x 18.9x -
FCF Yield 2.63% 7.83% 5.12% -4.24% 0.73% 3.99% 5.3% -
Dividend per Share 2 0.84 0.96 0.96 - - - - -
Rate of return 0.69% 0.92% 1.53% - - - - -
EPS 2 3.85 7.14 6.4 -29.66 -3.51 -2.105 -0.72 -
Distribution rate 21.8% 13.4% 15% - - - - -
Net sales 1 1,662 1,973 1,371 2,474 2,495 2,525 2,549 -
EBITDA 1 198.9 313.4 203.1 307.7 307.1 300.9 306.2 375
EBIT 1 166.7 267.7 145.7 161.4 157.4 139.4 143.4 -
Net income 1 105.9 193.2 167.4 -817 -141.7 -68.8 -35.35 -
Net Debt 1 - - 1,752 1,619 1,620 1,786 1,669 -
Reference price 2 121.09 104.89 62.87 32.25 25.00 14.05 14.05 14.05
Nbr of stocks (in thousands) 26,958 26,590 25,662 28,954 31,248 31,625 - -
Announcement Date 09/02/22 08/02/23 28/02/24 26/02/25 23/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-6.67x0.88x7.41x - 44Cr
17.18x1.18x8.65x6.29% 8.86TCr
16.94x1.03x7.59x3.42% 7.36TCr
15.17x0.9x8.03x1.71% 7.27TCr
24.36x1.78x16.9x0.98% 2.2TCr
21.56x0.79x8.98x-.--% 1.24TCr
25.79x2.46x9.31x-.--% 889.12Cr
8.91x0.34x6.61x6.17% 620.71Cr
15.34x0.7x7.92x3.41% 592.21Cr
27.41x0.54x7.95x-.--% 577.08Cr
Average 16.60x 1.06x 8.93x 2.44% 2.97TCr
Weighted average by Cap. 17.55x 1.10x 8.81x 3.42%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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