FWRD PEER ANALYSIS

Forward Air Corporation — metric-by-metric comparison with peers and the industry median

FWRDForward Air Corporation

🇺🇸 USA · NASDAQ · Industrials · Integrated Freight & Logistics

Value it Duel

Overall Profile & Returns

· Integrated Freight & Logistics

Position Within Industry

0 = weak quartile, 100 = strong quartile

FWRDIndustry median

Scores normalize each metric against industry quartiles (p25–p75); direction is inverted for lower-is-better metrics.

Return Comparison

1-Year

Split-adjusted

Year-to-Date (YTD)

Key Metric Comparison

P/E

Lower is better

ROE

Higher is better

Net Margin

Higher is better

Revenue Growth

Higher is better

All Metrics

Valuation
Metric	FWRD	RYSAS	CJT	PASEU	HOROZ	FRW	Ind. Median
P/E	—	12.43●	35.92	63.23	—	—	27.52
P/B	5.01	1.14●	1.76	17.35	1.38	4.16	2.55
EV/EBITDA	23.81	8.27	7.38	548.67	4.81●	—	14.20
P/S	0.16●	3.08	1.31	27.57	0.43	—	1.43

Financial Health
Metric	FWRD	RYSAS	CJT	PASEU	HOROZ	FRW	Ind. Median
Current Ratio	1.23	1.22	0.91	1.69●	1.07	0.77	1.22
Debt/Equity	2,654.8%	29.8%	123.6%	29.5%●	87.5%	—	51.1%
NetDebt/EBITDA	19.81	0.72●	3.04	8.63	1.67	—	1.96

Profitability
Metric	FWRD	RYSAS	CJT	PASEU	HOROZ	FRW	Ind. Median
Net Margin	-3.7%	24.8%	3.6%	43.6%●	-0.8%	—	3.7%
ROE	-77.6%	11.0%	4.8%	35.8%●	-2.7%	—	14.6%
ROA	-3.3%	8.2%	1.8%	22.2%●	-1.1%	—	4.8%
EBITDA Margin	4.1%	40.8%●	30.2%	5.1%	13.7%	—	11.2%

Growth + Dividend
Metric	FWRD	RYSAS	CJT	PASEU	HOROZ	FRW	Ind. Median
Rev. Growth	-3.2%	-10.8%	-2.2%	3.7%	18.7%●	—	0.6%
NI Growth	—	239.1%●	-70.7%	235.4%	—	—	4.4%
Div. Yield	—	0.0%	1.7%	0.0%	0.0%	3.7%●	1.3%
Payout	—	0.0%	74.4%	0.0%	0.0%	—	31.4%

Valuation
Metric	FWRD	RLGT	CYRX	PBI	HUBG	Ind. Median
P/E	—	28.48	9.74●	16.03	26.47	27.52
P/B	5.01	1.97	1.52	-3.00●	1.63	2.55
EV/EBITDA	23.81	15.53	—	10.58	9.36●	14.20
P/S	0.16●	0.52	4.11	1.43	0.75	1.43

Financial Health
Metric	FWRD	RLGT	CYRX	PBI	HUBG	Ind. Median
Current Ratio	1.23	1.59	2.09●	0.62	1.47	1.22
Debt/Equity	2,654.8%	35.8%	46.6%	-253.8%●	29.3%	51.1%
NetDebt/EBITDA	19.81	1.36	27.43	4.46	1.12●	1.96

Profitability
Metric	FWRD	RLGT	CYRX	PBI	HUBG	Ind. Median
Net Margin	-3.7%	1.8%	42.2%●	8.9%	2.8%	3.7%
ROE	-77.6%	7.1%	17.3%●	—	6.3%	14.6%
ROA	-3.3%	3.8%	10.5%●	5.2%	3.7%	4.8%
EBITDA Margin	4.1%	3.6%	-3.5%	23.4%●	9.1%	11.2%

Growth + Dividend
Metric	FWRD	RLGT	CYRX	PBI	HUBG	Ind. Median
Rev. Growth	-3.2%	0.6%●	-7.1%	-6.1%	-5.8%	0.6%
NI Growth	—	-5.8%	—	244.8%●	-3.2%	4.4%
Div. Yield	—	—	1.1%	1.9%●	1.1%	1.3%
Payout	—	—	10.4%	31.9%	28.6%	31.4%

The green dot marks the best value in the group given the metric direction (higher/lower is better). All metrics use trailing-twelve-month (TTM) data.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.