Forward Air Corp (FWRD) Stock Forecast Oct. 16, 2026
Analysis updated on Oct. 16, 2026 (UTC) · Alpha · vs marketSwitch to Total · Nasdaq
Forward Air Corp (FWRD) stock forecast summary
On Oct. 16, 2026, FWRD is rated Neutral: its 90-day Alpha forecast sits in the middle 30% of the 5171 stocks scored that day.
Forward Air Corp is a small-cap company with a market capitalization of $535M. It ranks number 4 by market capitalization among the 10 Arrangement of Transportation of Freight & Cargo issuers in our coverage with a current forecast.
For FWRD, the Spearman rank correlation between our 90-day forecasts and the returns that followed is 47.0%, measured on 357 forecast dates between 2022-07-29 and 2026-07-17 on this stock's own recent history. A rank correlation runs from -100% to +100%: it measures whether higher forecasts were followed by higher returns, and a value near zero or below means the model has shown little skill on this stock. On the 30-day forecasts the same correlation is 34.0%, measured on 400 forecast dates between 2022-07-29 and 2026-09-16. Across our coverage, the out-of-sample test on 4495 stocks from 2025-01-06 to 2026-07-07 produced a positive net return in 82.5% of rebalance periods (factor-neutral book, net of estimated costs). Full backtest report
Expected return relative to the market over the horizon: a positive alpha means the model expects the stock to beat the market, whatever the market does. Ratings: strong buy ≥ +1.7%, buy ≥ +0.2%, sell < -0.9%, strong sell < -1.2% (top 15%, next 20%, middle 30%, next 20%, bottom 15% of the 2026-10-16 signals)
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How FWRD ranks among 5171 stocks
90D Alpha forecasts of every company scored, cut into five relative ratings at the 15th, 35th, 65th and 85th percentiles (dashed lines).
Forward Air Corp (FWRD) fundamentals
Trailing twelve months. The industry median and the rank (1 = highest) are taken over the Arrangement of Transportation of Freight & Cargo peers listed below that report each metric.
Valuation & Market
| Metric | FWRD | Rank |
|---|---|---|
| Market Cap | $535M | 4/10 |
| EPS | $-8.89 | – |
| Revenue/Share | $74.54 | – |
| FCF/Share | $1.43 | – |
Profitability & Margins
| Metric | FWRD | Rank |
|---|---|---|
| ROA | -11.9% | 5/7 |
| ROIC | -8.6% | 5/7 |
| Operating Margin | -6.7% | 5/8 |
| Net Margin | -11.4% | 5/7 |
| EBT Margin | -13.9% | 5/8 |
| Tax Rate | 1.9% | – |
Financial Health
| Metric | FWRD | Rank |
|---|---|---|
| Current Ratio | 1.32x | 7/8 |
| Interest Coverage | -0.0x | 4/8 |
| Working Capital | $142M | 4/8 |
Cash Flow
| Metric | FWRD | Rank |
|---|---|---|
| Operating Cash Flow | $71M | 4/8 |
| Free Cash Flow | $48M | 4/6 |
| Capital Spending | -$23M | 3/6 |
| OCF Growth YoY | 73.7% | 1/5 |
| FCF Growth YoY | 643.8% | 1/5 |
| FCF/Sales | 1.9% | 4/6 |
| CapEx/Sales | 0.9% | 3/6 |
Operational Efficiency
| Metric | FWRD | Rank |
|---|---|---|
| Asset Turnover | 1.04x | 5/7 |
| Receivables Turnover | 6.8x | 1/5 |
| Fixed Assets Turnover | 9.2x | 5/7 |
| Days Sales Outstanding | 54 days | 5/5 |
Income Statement
| Metric | FWRD | Rank |
|---|---|---|
| Total Revenue | $2.52B | 4/7 |
| Operating Income | -$169M | 8/8 |
| Net Income | -$286M | 7/7 |
Dividend & Shareholder Information
| Metric | FWRD | Rank |
|---|---|---|
| Shares Outstanding | 34M | – |
Balance Sheet Highlights (USD millions)
| Total Current Assets | $583M | 24.2% of assets |
| Cash & Short-term Investments | $139M | 5.8% of assets |
| Accounts Receivable | $369M | 15.3% of assets |
| Total Liabilities | $2.53B | |
| Short-term Debt | $323M | 13.4% of assets |
FWRD quarterly financials and insider trading
Forward Air Corp (FWRD) industry peers
Companies classified under the same SEC industry code as Forward Air Corp (Arrangement of Transportation of Freight & Cargo): 10 common-stock issuers with a forecast this week, one row per issuer, largest first. This is a classification match, not a curated list of competitors.
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Sign up free| Company | 90-Day AI Forecast (Alpha) | Market Cap |
|---|---|---|
| FWRD Forward Air Corp | ▶ | $535M |
| EXPD Expeditors International Of Washington Inc | ▶ | $25.47B |
| BCO Brinks Co | ▶ | $4.31B |
| HUBG Hub Group, Inc. | ▲ | $1.68B |
| RLGT Radiant Logistics, Inc | ▶ | $425M |
| CRGO Freightos Ltd | ▲ | $40M |
| QNME Quanome Technologies, Inc. | ▼ | $20M |
| JYD Jayud Global Logistics Ltd | ▼ | $11M |
| SGLY Singularity Future Technology Ltd. | ▼ | $3M |
| FRGT Freight Technologies, Inc. | ▼ | $1M |
Where FWRD sits on the market map
Forward Air Corp (FWRD) stock news
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Forward Air Corp (FWRD) stock forecast FAQ
What is the Forward Air Corp (FWRD) stock forecast?
On Oct. 16, 2026, FWRD is rated Neutral: its 90-day Alpha forecast sits in the middle 30% of the 5171 stocks scored that day.
How accurate are Forward Air Corp stock predictions?
For FWRD, the Spearman rank correlation between our 90-day forecasts and the returns that followed is 47.0%, measured on 357 forecast dates between 2022-07-29 and 2026-07-17 on this stock's own recent history. A rank correlation runs from -100% to +100%: it measures whether higher forecasts were followed by higher returns, and a value near zero or below means the model has shown little skill on this stock. On the 30-day forecasts the same correlation is 34.0%, measured on 400 forecast dates between 2022-07-29 and 2026-09-16. Across our coverage, the out-of-sample test on 4495 stocks from 2025-01-06 to 2026-07-07 produced a positive net return in 82.5% of rebalance periods (factor-neutral book, net of estimated costs). Full backtest report
How often are Forward Air Corp forecasts updated?
Forward Air Corp forecasts are refreshed on trading days as the daily model run completes. The forecast on this page was produced on Oct. 16, 2026.
Which companies are Forward Air Corp's industry peers?
10 issuers in our coverage, FWRD included, share the SEC industry code Arrangement of Transportation of Freight & Cargo. The largest are: Expeditors International Of Washington Inc (EXPD), Brinks Co (BCO), Hub Group, Inc. (HUBG), Radiant Logistics, Inc (RLGT), Freightos Ltd (CRGO), Quanome Technologies, Inc. (QNME).
This analysis is generated automatically using our proprietary AI systems and should not be considered personalized investment advice. Past performance does not guarantee future results. Always conduct your own research and consider consulting a financial advisor before making investment decisions.