$1.8 B

FWRD Mkt cap, 14-Jun-2018

$302.6 M

Forward Air Revenue Q1, 2018
Forward Air EBIT (Q1, 2018)24.2 M
Forward Air Cash, 31-Mar-201812.7 M

Forward Air Revenue Breakdown

Embed Graph

Forward Air revenue breakdown by business segment: 10.5% from Intermodal, 15.1% from Pool Distribution, 16.6% from Truckload Premium Services and 57.8% from Expedited LTL

Forward Air Financials

Forward Air Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

652.5 m781 m959.1 m982.5 m

Revenue growth, %

20%23%2%

EBIT

84.4 m96.4 m81.8 m60 m

EBIT margin, %

13%12%9%6%

Interest expense

532 k610 k2 m1.6 m

Pre tax profit

83.9 m96.1 m79.7 m58.4 m

Income tax expense

29.5 m34.9 m24.1 m30.7 m

Net Income

54.5 m61.2 m55.6 m27.7 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

170 m171.6 m193.9 m201.5 m205.9 m249.7 m247.1 m229.5 m238.6 m249.6 m247 m267.5 m280.2 m302.6 m

Operating expense total

147.2 m155.3 m166.3 m174.6 m197.7 m229.8 m222.5 m208.1 m253 m224.9 m223.8 m237.7 m253.3 m278.4 m

Depreciation and amortization

10.7 m

EBIT

22.9 m16.3 m27.6 m26.9 m8.2 m19.9 m24.6 m21.4 m(14.3 m)24.7 m23.2 m29.8 m26.9 m24.2 m

EBIT margin, %

13%9%14%13%4%8%10%9%(6%)10%9%11%10%8%

Interest expense

145 k82 k101 k172 k364 k570 k554 k553 k461 k216 k282 k236 k288 k371 k

Pre tax profit

22.7 m16.3 m27.6 m26.7 m7.8 m19.2 m24.1 m20.8 m(14.9 m)24.5 m22.9 m29.6 m26.6 m23.9 m

Income tax expense

8.5 m6.1 m10.4 m9.9 m3 m7.4 m8.4 m7.7 m(4.9 m)12.5 m8.6 m10 m8.5 m6.1 m

Forward Air Balance Sheet

Annual

usdY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016

Cash

42 m74.5 m58.8 m112.2 m127.4 m41.4 m33.3 m8.5 m

Accounts Receivable

Inventories

1.1 m1.1 m1.3 m1.3 m

Current Assets

220.4 m150 m173.5 m136.3 m

Goodwill

88.5 m144.4 m205.6 m184.7 m

Total Assets

506.3 m541.8 m700.2 m641.3 m

Accounts Payable

16.3 m20.6 m23.3 m18 m

Short-term debt

69 k276 k55.6 m27.7 m

Current Liabilities

34.6 m43.4 m109 m77.9 m

Long-term debt

Total Debt

27.7 m

Additional Paid-in Capital

107.7 m130.1 m160.9 m179.5 m

Retained Earnings

327.8 m333.2 m348.9 m319.3 m

Total Equity

435.9 m463.6 m510.1 m499.1 m

Debt to Equity Ratio

0.1 x

Debt to Assets Ratio

0 x

Financial Leverage

1.2 x1.2 x1.4 x1.3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

98.6 m41 m24.9 m24.6 m54.5 m42.5 m47.4 m38 m21.7 m11.3 m14.3 m10.1 m12.4 m12.7 m

Current Assets

200.6 m145.1 m137.2 m138.6 m196.7 m193.3 m185.7 m167.9 m163.6 m144 m139.2 m148.2 m157.8 m170.1 m

PP&E

203.6 m

Goodwill

88.4 m131.2 m138.8 m140.7 m202.9 m206.5 m206.9 m206.5 m179.3 m184.7 m184.7 m191.5 m191.5 m191.7 m

Total Assets

490.8 m534.6 m532.5 m529.9 m715.4 m709.4 m698.7 m689.1 m644.4 m641.5 m635.9 m659.7 m669.2 m690.2 m

Accounts Payable

17.1 m22.2 m21.4 m21.4 m21.6 m27.6 m27.4 m17.8 m13.8 m18.4 m15.8 m17.6 m22.4 m30 m

Current Liabilities

36.6 m44 m43.7 m45 m114 m116.7 m113 m118.7 m100.7 m91.1 m58.5 m54.7 m58.2 m66.3 m

Preferred Stock

Additional Paid-in Capital

102.5 m119.9 m123.7 m126.5 m147.4 m150.8 m152.7 m163.7 m166.4 m174.5 m183 m188.7 m191.4 m197.6 m

Retained Earnings

315.7 m333.2 m326.7 m319.8 m329.3 m337.4 m339.4 m346.5 m322.8 m321.1 m317.3 m330.3 m313.9 m328.5 m

Total Equity

418.4 m453.4 m450.7 m446.6 m477 m488.5 m492.4 m510.6 m489.5 m495.8 m500.6 m519.2 m505.6 m526.4 m

Financial Leverage

1.2 x1.2 x1.2 x1.2 x1.5 x1.5 x1.4 x1.3 x1.3 x1.3 x1.3 x1.3 x1.3 x1.3 x

Forward Air Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Depreciation and Amortization

23.6 m31.1 m37.2 m38.2 m

Inventories

1.1 m1.1 m1.3 m1.3 m

Accounts Payable

16.3 m20.6 m23.3 m18 m

Cash From Operating Activities

15.2 m(85.9 m)(8.1 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018

Net Income

17.7 m

Depreciation and Amortization

6.2 m7 m7.8 m8.1 m8.7 m9.5 m9.4 m9.7 m9.3 m9.4 m10 m10.7 m

Accounts Receivable

805 k

Accounts Payable

21.4 m21.4 m21.6 m27.6 m27.4 m17.8 m13.8 m18.4 m15.8 m87 k

Cash From Operating Activities

40.8 m

Purchases of PP&E

(6.2 m)

Cash From Investing Activities

(5.7 m)

Cash From Financing Activities

(26.3 m)

Income Taxes Paid

8.5 m6.1 m10.4 m9.9 m3 m1.8 m

Forward Air Ratios

USDY, 2018

Financial Leverage

1.3 x
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Forward Air Operating Metrics

FY, 2014FY, 2015FY, 2016

Average Weekly Shipment Weight, pounds

36.90 m47.20 m46.50 m

Terminals

76 102 100

Trailers

3.82 k5.32 k5.78 k

Vehicle Fleet

4.50 k6.23 k6.72 k
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