Stock Fundamentals

Company Information

Company Name
Forward Air Corporation
Sector
Industrials
Industry
Integrated Freight & Logistics
Exchange
NASDAQ
ISIN: US34986A1043
CIK: 0000912728
CUSIP: 514759109
Currency: USD
Full Time Employees: 6,000
Phone: 423 636 7000
Fiscal Year End: December
IPO Date: Nov 16, 1993
Description:

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States, Mexico, Europe, Asia, and Canada. It operates through three segments: Expedited Freight, Omni Logistics, 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 shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. This segment offers expedited truckload brokerage, dedicated fleet, and high security and temperature-controlled logistics services. Its Omni Logistics segment offers full suite of global logistics services, such as air and ocean freight consolidation and forwarding, customs brokerage, warehousing and distribution, time-definite transportation services, and other supply chain solutions. 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.

Address:

Building N, Greeneville, TN, United States, 37745

Directors & Officers

Name Title Year Born
Mr. Jérôme Jean-Pierre Lorrain Executive Chairman 1977
Mr. Shawn Stewart President, CEO & Director 1975
Mr. Jamie G. Pierson Chief Financial Officer 1970
Mr. Michael L. Hance J.D. Chief Legal Officer & Secretary 1972
Mr. Timothy R. Osborne Executive Vice President of Operations NA
Mr. Jason T. Ringgenberg Interim Chief Information Officer 1966
Mr. Douglas J. Smith Chief People Officer 1970
Ms. Jessica L. Herren Executive VP and Chief Supply Chain Solutions & Customer Experience Officer NA

Institutional Holders

Holder Name Shares Date Reported % Out Value % Change
Clearlake Capital Group LP 3.83M Dec 31, 2025 12.24% $8.95 0.00%
BlackRock Inc 3.22M Sep 30, 2025 10.31% $0.00 -3.68%
LITTLEJOHN & CO LLC 2.75M Sep 30, 2025 8.81% $35.60 -5.80%
Vanguard Group Inc 2.34M Dec 31, 2025 7.50% $0.00 -0.48%
Ridgemont Partners Management LLC 1.94M Sep 30, 2025 6.20% $100.00 0.72%
Ancora Advisors LLC 1.48M Sep 30, 2025 4.72% $0.76 8.54%
Irenic Capital Management LP 1.23M Sep 30, 2025 3.94% $3.30 0.01%
JPMorgan Chase & Co 1.00M Sep 30, 2025 3.21% $0.00 27.52%
Paralel Advisors LLC 975.00K Dec 31, 2025 3.12% $0.95 0.00%
FMR Inc 961.87K Dec 31, 2025 3.08% $0.00 31.63%
Private Management Group Inc 936.49K Sep 30, 2025 3.00% $0.71 -10.49%
State Street Corp 929.93K Sep 30, 2025 2.98% $0.00 -0.76%
CIBC World Markets Inc. 756.04K Sep 30, 2025 2.42% $0.03 -10.20%
UBS Group AG 541.17K Sep 30, 2025 1.73% $0.00 -40.06%
Geode Capital Management, LLC 519.77K Sep 30, 2025 1.66% $0.00 -1.35%
Bank of America Corp 514.87K Sep 30, 2025 1.65% $0.00 -15.78%
Charles Schwab Investment Management Inc 481.94K Dec 31, 2025 1.54% $0.00 -5.47%
Millennium Management LLC 427.29K Sep 30, 2025 1.37% $0.00 63.88%
Jefferies Financial Group Inc 415.23K Sep 30, 2025 1.33% $0.05 7.95%
Morgan Stanley - Brokerage Accounts 406.16K Sep 30, 2025 1.30% $0.00 -23.50%

Shares Statistics

Shares Outstanding: 31.25M
Shares Float: 22.30M
% Insiders: 229.80%
% Institutions: 10,276.80%
Short % Float: 20.79%

🏆 Top 10 Institutional Holders

Rank Holder Name Shares Held % of Shares Change Date Reported
1 Clearlake Capital Group LP 3.83M 12.24% ▲ 0.00% Dec 31, 2025
2 BlackRock Inc 3.22M 10.31% ▼ 3.68% Sep 30, 2025
3 LITTLEJOHN & CO LLC 2.75M 8.81% ▼ 5.80% Sep 30, 2025
4 Vanguard Group Inc 2.34M 7.50% ▼ 0.48% Dec 31, 2025
5 Ridgemont Partners Management LLC 1.94M 6.20% ▲ 0.72% Sep 30, 2025
6 Ancora Advisors LLC 1.48M 4.72% ▲ 8.54% Sep 30, 2025
7 Irenic Capital Management LP 1.23M 3.94% ▲ 0.01% Sep 30, 2025
8 JPMorgan Chase & Co 1.00M 3.21% ▲ 27.52% Sep 30, 2025
9 Paralel Advisors LLC 975.00K 3.12% ▲ 0.00% Dec 31, 2025
10 FMR Inc 961.87K 3.08% ▲ 31.63% Dec 31, 2025

Valuation Metrics

Enterprise Value: $2.81B
Trailing P/E: 0.00
Forward P/E: 0.00

Financial Highlights

Market Cap: $790.27M
EBITDA: $189.06M
PEG Ratio: $2.01
Book Value: $3.64
Earnings/Share: $-4.05
Profit Margin: -4.32%
Operating Margin: -0.45%
ROA (TTM): 0.83%
ROE (TTM): -63.34%
Revenue (TTM): $2.50B
Revenue/Share (TTM): $81.25
Earnings Growth (YOY): 145.00%
Revenue Growth (YOY): -0.30%

Stock Price History

1 Year Price History

2 Years Price History

5 Years Price History

10 Years Price History

Download Financials (Excel)

Financial Charts

Revenue & Net Income (Yearly)

Revenue & Net Income (Quarterly)

Operating Expenses (Yearly)

Operating Expenses (Quarterly)

Balance Sheet (Yearly)

Balance Sheet (Quarterly)

Assets Breakdown (Yearly)

Assets Breakdown (Quarterly)

Liabilities Breakdown (Yearly)

Liabilities Breakdown (Quarterly)

Earnings Per Share (EPS) History

Financial Ratios (Yearly)

Financial Ratios (Quarterly)

Earnings History

Balance Sheet (Yearly)

Financial Ratios

Date Current Ratio Debt/Equity Debt/Assets Interest Coverage Debt/EBITDA
2025-12-31 1.22x 1.09x 0.96x 0.20x 0.66x
2024-12-31 1.23x 8.87x 0.90x -5.62x -1.95x
2023-12-31 1.46x 2.42x 0.74x 2.79x 12.69x
2022-12-31 1.80x 0.22x 0.41x 48.19x 0.55x
2021-12-31 1.72x 0.37x 0.47x 33.89x 1.20x
2020-12-31 1.43x 0.29x 0.48x 16.21x 1.42x
2019-12-31 1.72x 0.18x 0.42x 41.47x 0.70x
2018-12-31 2.69x 0.09x 0.27x 68.44x 0.29x
2017-12-31 2.71x 0.08x 0.22x 89.89x 0.27x
2016-12-31 1.75x 0.06x 0.22x 37.56x 0.30x
2015-12-31 1.59x 0.16x 0.27x 39.95x 0.71x
2014-12-31 3.45x 0.00x 0.14x 158.04x 0.01x
2013-12-31 6.37x 0.00x 0.14x 158.56x 0.00x
2012-12-31 7.11x 0.00x 0.12x 213.64x 0.01x
2011-12-31 4.12x 0.01x 0.16x 124.57x 0.01x
2010-12-31 5.29x 0.20x 0.27x 73.62x 0.69x
2009-12-31 3.63x 0.24x 0.29x 28.04x 1.41x
2008-12-31 3.50x 0.26x 0.30x 56.86x 0.64x
2007-12-31 2.66x 0.19x 0.29x 144.70x 0.39x
2006-12-31 6.67x 0.00x 0.13x 930.81x 0.01x
2005-12-31 5.27x 0.01x 0.16x N/A -0.02x
2004-12-31 6.21x 0.01x 0.16x 974.51x -0.01x
2003-12-31 6.07x 0.01x 0.16x 565.94x 0.02x
2002-12-31 4.75x 0.01x 0.19x 95.72x 10.01x
2001-12-31 3.41x 0.05x 0.22x 316,580.00x 0.13x
2000-12-31 2.87x 0.10x 0.28x N/A -0.10x
1999-12-31 2.16x 0.02x 0.31x N/A -0.02x
1998-12-31 1.43x 0.27x 0.66x N/A -0.09x
1997-12-31 1.06x 0.11x 0.57x N/A -1.17x
1996-12-31 1.26x 0.27x 0.58x N/A -1.59x
1995-12-31 1.29x 0.25x 0.63x N/A 0.22x
1994-12-31 1.47x 0.19x 0.59x N/A 0.16x
1993-12-31 2.02x 0.05x 0.44x N/A 0.19x

Insider Trading

Date Insider Name Title Transaction Type Shares Price Value
Nov 12, 2025 Cetus Capital Vi, L.P. N/A Sale 10.00K $22.38 $223.80K
Nov 11, 2025 Cetus Capital Vi, L.P. N/A Sale 67.16K $21.71 $1.46M
Nov 10, 2025 Cetus Capital Vi, L.P. N/A Sale 120.00K $21.83 $2.62M
Nov 06, 2025 Cetus Capital Vi, L.P. N/A Sale 75.00K $21.85 $1.64M
Oct 20, 2025 Cetus Capital Vi, L.P. N/A Purchase 225.00K $17.93 $4.03M
Oct 14, 2025 Cetus Capital Vi, L.P. N/A Sale 30.00K $21.42 $642.60K

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