FORWARD AIR CORP(FWRD)Stock Analysis
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Rank #2,050 of 2,962 stocks
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
FWRD Stock Analysis & AI Quality Score
Data updated 2026-09-11AI stock analysis and institutional research for FORWARD AIR CORP (FWRD), a Industrials sector company. 13F Pro's AI-powered ranking engine scores FWRD at 41.7/100 on a 32-signal composite quality model, placing it at rank #2,050 of 2,962 stocks — the bottom half of the AI-ranked universe. Areas of concern include institutional flow (13.2) and balance sheet strength (16.3), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), FORWARD AIR CORP reports quarterly revenue of $673.0M, net income of $-207.3M, free cash flow of $-8.1M. Top institutional holders of FWRD by reported 13-F value include CLEARLAKE CAPITAL GROUP, L.P., BlackRock, FMR, based on the most recent SEC filings. FWRD trades on the Nasdaq exchange and files with the SEC under CIK 912728. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FWRD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FORWARD AIR CORP directly from SEC EDGAR. FORWARD AIR CORP's 13F Pro composite quality score has ranged between 34 and 70 since 2021, currently 41.7 — a stable long-term trajectory across 68 quarterly and live scoring snapshots.
Revenue
Q2 2026
$673.0M
Net Income
Q2 2026
$-207.3M
Free Cash Flow
Q2 2026
$-8.1M
ROIC
Q2 2026
-51.0%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · ProRevenue
+0.8% YoYNet Income
+86.8% YoYOperating Income
+103.4% YoYEPS (Diluted)
+88.5% YoYTotal Assets
-3.0% YoYTotal Debt
-0.3% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.50B +0.8% | $2.47B +80.5% | $1.37B -18.4% | $1.68B +21.1% | $1.39B +9.3% | $1.27B |
| Net Income | $-107.8M +86.8% | $-817.0M -588.2% | $167.4M -13.4% | $193.2M +82.5% | $105.9M +346.0% | $23.7M |
| Operating Income | $36.4M +103.4% | $-1.06B -1305.0% | $88.2M -64.4% | $247.6M +68.4% | $147.0M +98.9% | $73.9M |
| EPS (Diluted) | $-3.51 +88.5% | $-30.63 -578.6% | $6.40 -10.4% | $7.14 +85.5% | $3.85 +358.3% | $0.84 |
| Total Assets | $2.72B -3.0% | $2.80B -5.9% | $2.98B +146.6% | $1.21B +8.1% | $1.12B +6.7% | $1.05B |
| Total Debt | $1.69B -0.3% | $1.69B +13287.6% | $12.6M -89.4% | $118.9M -27.7% | $164.6M +38.0% | $119.2M |
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Available Research
13F Pro tracks comprehensive data for FORWARD AIR CORP including:
Top Institutional Holders of FWRD
CLEARLAKE CAPITAL GROUP, L.P.
$51.7M3,825,000 shBlackRock, Inc.
$37.5M2,774,600 shFMR LLC
$27.1M2,008,264 shBracebridge Capital, LLC
$19.0M1,404,913 shVANGUARD CAPITAL MANAGEMENT LLC
$15.8M1,169,316 shPRIVATE MANAGEMENT GROUP INC
$15.5M1,145,760 shCIBC WORLD MARKET INC.
$14.5M1,072,138 shD. E. Shaw & Co., Inc.
$13.5M1,000,105 shHRT FINANCIAL LP
$10.6M785,954 shBARCLAYS PLC
$9.5M706,620 sh
| Fund | Value | Shares |
|---|---|---|
| CLEARLAKE CAPITAL GROUP, L.P. | $51.7M | 3,825,000 |
| BlackRock, Inc. | $37.5M | 2,774,600 |
| FMR LLC | $27.1M | 2,008,264 |
| Bracebridge Capital, LLC | $19.0M | 1,404,913 |
| VANGUARD CAPITAL MANAGEMENT LLC | $15.8M | 1,169,316 |
| PRIVATE MANAGEMENT GROUP INC | $15.5M | 1,145,760 |
| CIBC WORLD MARKET INC. | $14.5M | 1,072,138 |
| D. E. Shaw & Co., Inc. | $13.5M | 1,000,105 |
| HRT FINANCIAL LP | $10.6M | 785,954 |
| BARCLAYS PLC | $9.5M | 706,620 |
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Similarity is computed from the 8 composite sub-scores and latest-quarter 13F conviction holdings (index-style filers excluded). Refreshed monthly.
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Popular Research
Is FWRD a good stock to buy?
13F Pro's AI-powered analysis of FORWARD AIR CORP (FWRD) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for FWRD are available on the FWRD stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. FWRD is classified as a small company.
Which hedge funds own FWRD?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling FWRD. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of FORWARD AIR CORP's investment landscape.