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 1,613 933.8 781.2 434.8 - -
Change - -14.56% -42.15% -42.12% -16.34% -44.34% - -
Enterprise Value (EV) 1 3,264 2,789 3,366 2,553 2,401 2,221 2,113 434.8
Change - -14.56% 20.68% -24.16% -5.95% -7.5% -4.87% -79.42%
P/E 31.5x 14.7x 9.82x -1.09x -7.12x -7.1x -19.1x -
PBR - - 2.14x 3.97x 6.91x 5.22x 8.81x -
PEG - 0.2x -0.9x 0x 0.1x 0.2x 0.3x -
Capitalization / Revenue 1.96x 1.41x 1.18x 0.38x 0.31x 0.17x 0.17x -
EV / Revenue 1.96x 1.41x 2.46x 1.03x 0.96x 0.88x 0.82x -
EV / EBITDA 16.4x 8.9x 16.6x 8.3x 7.82x 7.42x 6.65x 1.16x
EV / EBIT 19.6x 10.4x 23.1x 15.8x 15.3x 16.2x 14.1x -
EV / FCF 38.1x 12.8x 19.5x -23.6x 137x 24.4x 16.3x -
FCF Yield 2.63% 7.83% 5.12% -4.24% 0.73% 4.1% 6.14% -
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 -1.937 -0.72 -
Distribution rate 21.8% 13.4% 15% - - - - -
Net sales 1 1,662 1,973 1,371 2,474 2,495 2,536 2,573 -
EBITDA 1 198.9 313.4 203.1 307.7 307.1 299.1 317.7 375
EBIT 1 166.7 267.7 145.7 161.4 157.4 137.4 149.7 -
Net income 1 105.9 193.2 167.4 -817 -141.7 -62.91 -24.77 -
Net Debt 1 - - 1,752 1,619 1,620 1,786 1,678 -
Reference price 2 121.09 104.89 62.87 32.25 25.00 13.75 13.75 13.75
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-7.1x0.88x7.42x-.--% 43Cr
16.65x1.32x9.62x5.57% 10TCr
16.65x1.02x7.5x3.48% 7.21TCr
26.58x1.95x18.52x0.9% 2.39TCr
19.86x0.71x8.1x-.--% 1.13TCr
25.99x2.47x9.23x-.--% 884.44Cr
29.53x0.57x8.42x-.--% 621.84Cr
15.75x0.72x8.11x3.33% 595.4Cr
8.78x0.28x5.37x8.05% 531.62Cr
Average 16.97x 1.10x 9.14x 2.37% 2.6TCr
Weighted average by Cap. 18.27x 1.25x 9.62x 3.81%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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