Forward Air Corporation Financial Overview
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Forward Air..
CORPORATION
Financial Overview
Goal to deliver superior returns to shareholders through profitable organic
growth and disciplined acquisitions
Commitment to return capital to shareholders through dividends and share
repurchases
Revenue
2016
$ 1,030 M
2017
$ 1,169 M
2018
$ 1,321 M
Operating Income
$ 102 M *
$ 109 M
$ 122 M
Operating Margin
9.9% *
EPS
$2.08*
9.3%
$ 2.89
9.2%
$3.12
EBITDA
$ 140 M*
$ 150 M
$ 164 M
*
EBITDA Margin
13.6%
12.8%
12.4%
ROIC (w/o Goodwill & Intang.)
24.5%
26.2%
32.2%
ROIC (w/Goodwill & Intang.)
Capital to Shareholders
12.2%
13.4%
16.4%
$ 56 M
$ 67 M
$ 85 M
Debt/Adjusted EBITDA
0.2 x
0.3 x
0.3 x
ROIC is calculated as Non Operating Profit After Tax (adjusted for the amortization of intangibles) divided by Operating Invested Capital
*
Non-GAAP adjustment, see appendix
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