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Stock Comparison

FWRD vs SAIA

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
FWRD
Forward Air Corporation

Integrated Freight & Logistics

IndustrialsNASDAQ • US
Market Cap$573M
5Y Perf.-63.0%
SAIA
Saia, Inc.

Trucking

IndustrialsNASDAQ • US
Market Cap$11.99B
5Y Perf.+314.4%

FWRD vs SAIA — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
FWRD logoFWRD
SAIA logoSAIA
IndustryIntegrated Freight & LogisticsTrucking
Market Cap$573M$11.99B
Revenue (TTM)$2.50B$3.25B
Net Income (TTM)$-108M$255M
Gross Margin20.5%18.4%
Operating Margin1.5%10.8%
Forward P/E42.3x
Total Debt$2.16B$418M
Cash & Equiv.$106M$20M

FWRD vs SAIALong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

FWRD
SAIA
StockMay 20May 26Return
Forward Air Corpora… (FWRD)10037.0-63.0%
Saia, Inc. (SAIA)100414.4+314.4%

Price return only. Dividends and distributions are not included.

Quick Verdict: FWRD vs SAIA

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: SAIA leads in 4 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Forward Air Corporation is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
FWRD
Forward Air Corporation
The Growth Play

FWRD is the clearest fit if your priority is growth exposure.

  • Rev growth 0.8%, EPS growth 88.3%, 3Y rev CAGR 14.1%
  • 0.8% revenue growth vs SAIA's 0.8%
  • Better valuation composite
Best for: growth exposure
SAIA
Saia, Inc.
The Income Pick

SAIA carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.

  • beta 1.90
  • 15.6% 10Y total return vs FWRD's -44.3%
  • Lower volatility, beta 1.90, Low D/E 16.2%, current ratio 1.64x
Best for: income & stability and long-term compounding
See the full category breakdown
CategoryWinnerWhy
GrowthFWRD logoFWRD0.8% revenue growth vs SAIA's 0.8%
ValueFWRD logoFWRDBetter valuation composite
Quality / MarginsSAIA logoSAIA7.8% margin vs FWRD's -4.3%
Stability / SafetySAIA logoSAIABeta 1.90 vs FWRD's 2.28, lower leverage
DividendsTieNeither stock pays a meaningful dividend
Momentum (1Y)SAIA logoSAIA+76.6% vs FWRD's +9.6%
Efficiency (ROA)SAIA logoSAIA7.3% ROA vs FWRD's -4.0%, ROIC 9.4% vs 1.2%

FWRD vs SAIA — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

FWRDForward Air Corporation
FY 2024
Expedited Freight Segment
82.7%$1.1B
Intermodal Segment
17.3%$233M
SAIASaia, Inc.

Segment breakdown not available.

FWRD vs SAIA — Financial Metrics

Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLSAIALAGGINGFWRD

Income & Cash Flow (Last 12 Months)

SAIA leads this category, winning 4 of 6 comparable metrics.

SAIA and FWRD operate at a comparable scale, with $3.3B and $2.5B in trailing revenue. SAIA is the more profitable business, keeping 7.8% of every revenue dollar as net income compared to FWRD's -4.3%.

MetricFWRD logoFWRDForward Air Corpo…SAIA logoSAIASaia, Inc.
RevenueTrailing 12 months$2.5B$3.3B
EBITDAEarnings before interest/tax$189M$602M
Net IncomeAfter-tax profit-$108M$255M
Free Cash FlowCash after capex$15M$261M
Gross MarginGross profit ÷ Revenue+20.5%+18.4%
Operating MarginEBIT ÷ Revenue+1.5%+10.8%
Net MarginNet income ÷ Revenue-4.3%+7.8%
FCF MarginFCF ÷ Revenue+0.6%+8.0%
Rev. Growth (YoY)Latest quarter vs prior year-0.3%+2.4%
EPS Growth (YoY)Latest quarter vs prior year+26.6%0.0%
SAIA leads this category, winning 4 of 6 comparable metrics.

Valuation Metrics

FWRD leads this category, winning 5 of 5 comparable metrics.

On an enterprise value basis, FWRD's 13.9x EV/EBITDA is more attractive than SAIA's 20.6x.

MetricFWRD logoFWRDForward Air Corpo…SAIA logoSAIASaia, Inc.
Market CapShares × price$573M$12.0B
Enterprise ValueMkt cap + debt − cash$2.6B$12.4B
Trailing P/EPrice ÷ TTM EPS-5.28x47.21x
Forward P/EPrice ÷ next-FY EPS est.42.32x
PEG RatioP/E ÷ EPS growth rate3.67x
EV / EBITDAEnterprise value multiple13.89x20.61x
Price / SalesMarket cap ÷ Revenue0.23x3.71x
Price / BookPrice ÷ Book value/share3.52x4.67x
Price / FCFMarket cap ÷ FCF37.52x438.47x
FWRD leads this category, winning 5 of 5 comparable metrics.

Profitability & Efficiency

SAIA leads this category, winning 9 of 9 comparable metrics.

SAIA delivers a 10.0% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $-67 for FWRD. SAIA carries lower financial leverage with a 0.16x debt-to-equity ratio, signaling a more conservative balance sheet compared to FWRD's 13.36x. On the Piotroski fundamental quality scale (0–9), SAIA scores 6/9 vs FWRD's 5/9, reflecting solid financial health.

MetricFWRD logoFWRDForward Air Corpo…SAIA logoSAIASaia, Inc.
ROE (TTM)Return on equity-66.7%+10.0%
ROA (TTM)Return on assets-4.0%+7.3%
ROICReturn on invested capital+1.2%+9.4%
ROCEReturn on capital employed+1.5%+11.5%
Piotroski ScoreFundamental quality 0–956
Debt / EquityFinancial leverage13.36x0.16x
Net DebtTotal debt minus cash$2.1B$398M
Cash & Equiv.Liquid assets$106M$20M
Total DebtShort + long-term debt$2.2B$418M
Interest CoverageEBIT ÷ Interest expense0.19x23.88x
SAIA leads this category, winning 9 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

SAIA leads this category, winning 6 of 6 comparable metrics.

A $10,000 investment in SAIA five years ago would be worth $18,991 today (with dividends reinvested), compared to $2,169 for FWRD. Over the past 12 months, SAIA leads with a +76.6% total return vs FWRD's +9.6%. The 3-year compound annual growth rate (CAGR) favors SAIA at 16.0% vs FWRD's -41.8% — a key indicator of consistent wealth creation.

MetricFWRD logoFWRDForward Air Corpo…SAIA logoSAIASaia, Inc.
YTD ReturnYear-to-date-26.9%+33.3%
1-Year ReturnPast 12 months+9.6%+76.6%
3-Year ReturnCumulative with dividends-80.3%+56.2%
5-Year ReturnCumulative with dividends-78.3%+89.9%
10-Year ReturnCumulative with dividends-44.3%+1557.1%
CAGR (3Y)Annualised 3-year return-41.8%+16.0%
SAIA leads this category, winning 6 of 6 comparable metrics.

Risk & Volatility

SAIA leads this category, winning 2 of 2 comparable metrics.

SAIA is the less volatile stock with a 1.90 beta — it tends to amplify market swings less than FWRD's 2.28 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SAIA currently trades 98.1% from its 52-week high vs FWRD's 56.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricFWRD logoFWRDForward Air Corpo…SAIA logoSAIASaia, Inc.
Beta (5Y)Sensitivity to S&P 5002.28x1.90x
52-Week HighHighest price in past year$32.47$457.99
52-Week LowLowest price in past year$14.81$248.37
% of 52W HighCurrent price vs 52-week peak+56.5%+98.1%
RSI (14)Momentum oscillator 0–10035.553.6
Avg Volume (50D)Average daily shares traded725K533K
SAIA leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

Insufficient data to determine a leader in this category.

Wall Street rates FWRD as "Hold" and SAIA as "Buy". Consensus price targets imply 101.5% upside for FWRD (target: $37) vs -5.9% for SAIA (target: $423).

MetricFWRD logoFWRDForward Air Corpo…SAIA logoSAIASaia, Inc.
Analyst RatingConsensus buy/hold/sellHoldBuy
Price TargetConsensus 12-month target$37.00$422.67
# AnalystsCovering analysts2132
Dividend YieldAnnual dividend ÷ price
Dividend StreakConsecutive years of raises8
Dividend / ShareAnnual DPS
Buyback YieldShare repurchases ÷ mkt cap+0.1%+0.1%
Insufficient data to determine a leader in this category.
Key Takeaway

SAIA leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). FWRD leads in 1 (Valuation Metrics).

Best OverallSaia, Inc. (SAIA)Leads 4 of 6 categories
Loading custom metrics...

FWRD vs SAIA: Frequently Asked Questions

9 questions · data-driven answers · updated daily

01

Is FWRD or SAIA a better buy right now?

For growth investors, Forward Air Corporation (FWRD) is the stronger pick with 0.

8% revenue growth year-over-year, versus 0. 8% for Saia, Inc. (SAIA). Saia, Inc. (SAIA) offers the better valuation at 47. 2x trailing P/E (42. 3x forward), making it the more compelling value choice. Analysts rate Saia, Inc. (SAIA) a "Buy" — based on 32 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which is the better long-term investment — FWRD or SAIA?

Over the past 5 years, Saia, Inc.

(SAIA) delivered a total return of +89. 9%, compared to -78. 3% for Forward Air Corporation (FWRD). Over 10 years, the gap is even starker: SAIA returned +1557% versus FWRD's -44. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

03

Which is safer — FWRD or SAIA?

By beta (market sensitivity over 5 years), Saia, Inc.

(SAIA) is the lower-risk stock at 1. 90β versus Forward Air Corporation's 2. 28β — meaning FWRD is approximately 20% more volatile than SAIA relative to the S&P 500. On balance sheet safety, Saia, Inc. (SAIA) carries a lower debt/equity ratio of 16% versus 13% for Forward Air Corporation — giving it more financial flexibility in a downturn.

04

Which is growing faster — FWRD or SAIA?

By revenue growth (latest reported year), Forward Air Corporation (FWRD) is pulling ahead at 0.

8% versus 0. 8% for Saia, Inc. (SAIA). On earnings-per-share growth, the picture is similar: Forward Air Corporation grew EPS 88. 3% year-over-year, compared to -29. 6% for Saia, Inc.. Over a 3-year CAGR, FWRD leads at 14. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

05

Which has better profit margins — FWRD or SAIA?

Saia, Inc.

(SAIA) is the more profitable company, earning 7. 9% net margin versus -4. 3% for Forward Air Corporation — meaning it keeps 7. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SAIA leads at 10. 9% versus 1. 5% for FWRD. At the gross margin level — before operating expenses — SAIA leads at 23. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

06

Is FWRD or SAIA more undervalued right now?

Analyst consensus price targets imply the most upside for FWRD: 101.

5% to $37. 00.

07

Which pays a better dividend — FWRD or SAIA?

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

08

Is FWRD or SAIA better for a retirement portfolio?

For long-horizon retirement investors, Saia, Inc.

(SAIA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+1557% 10Y return). Forward Air Corporation (FWRD) carries a higher beta of 2. 28 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (SAIA: +1557%, FWRD: -44. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

09

What are the main differences between FWRD and SAIA?

Both stocks operate in the Industrials sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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FWRD

Quality Business

  • Sector: Industrials
  • Market Cap > $100B
  • Gross Margin > 12%
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SAIA

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  • Sector: Industrials
  • Market Cap > $100B
  • Net Margin > 5%
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