Forward Air Corporation
FWRDIndustrialsNASDAQIntegrated Freight & Logistics · Last scanned Oct 26, 2026
Scan Results
Daily timeframeForward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States, Mexico, Europe, Asia, and Canada. With a market capitalization of $516.8M, it sits in small-cap territory. The company operates through three segments: Expedited Freight, Omni Logistics, and Intermodal.
Market Cap
$516.8M
Beta
1.41
P/E (TTM)
—
P/E (Fwd)
35.58
EPS (TTM)
$-8.92
EPS (Fwd)
$0.43
ROE
-735.7%
ROA
3.1%
Cash
$139.4M
Total Debt
$2.11B
Free CF
$87.0M
52W Change
-22.7%
Annual Financials
Cash vs Debt
Where FWRD stands vs its 150-day and 200-day moving averages
As of the October 20, 2026 close, FWRD finished 0.84% below its 150-day moving average ($15.45) and 15.45% below its 200-day moving average ($18.12). This snapshot is end-of-day data shown with a five-trading-day delay on the free plan; Premium members see readings from the latest close.
Is FWRD overbought or oversold?
At the October 20, 2026 close, FWRD's RSI(14) was 52.9, in neutral territory (between 30 and 70). The MACD histogram was positive, so short-term momentum leaned bullish at that close. These readings are historical, refresh daily after market close, and are not investment advice.
Forward Air Corporation carries $2.11B in total debt against $139.4M in cash reserves — debt is roughly 15.1x the cash position. Managing this leverage effectively will be important for long-term financial stability. The company generates $87.0M in free cash flow annually, which funds everything from R&D to shareholder returns without needing external financing. Return on equity stands at -735.7%, which is negative for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 3.1% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $1.68B (2022) to $2.50B (2025), reflecting a 49% increase over the period.
The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for Forward Air Corporation and its sector.