FWRD
Forward Air Corporation
Integrated Freight & Logistics
Market Cap$547M
5Y Perf.-65.1%
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Stock Comparison
FWRD vs TFII
Revenue, margins, valuation, and 5-year total return — side by side.
TFII
TFI International Inc.
Trucking
Market Cap$11.36B
5Y Perf.+356.6%
FWRD vs TFII — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | FWRD | TFII |
|---|---|---|
| Industry | Integrated Freight & Logistics | Trucking |
| Market Cap | $547M | $11.36B |
| Revenue (TTM) | $2.46B | $8.65B |
| Net Income (TTM) | $-91M | $339M |
| Gross Margin | 23.1% | 12.2% |
| Operating Margin | 2.1% | 7.0% |
| Forward P/E | — | 26.7x |
| Total Debt | $2.16B | $3.69B |
| Cash & Equiv. | $106M | $210M |
FWRD vs TFII — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
FWRD
TFII
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Forward Air Corpora… (FWRD) | 100 | 34.9 | -65.1% |
| TFI International I… (TFII) | 100 | 456.6 | +356.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FWRD vs TFII
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: TFII leads in 7 of 7 categories, making it the strongest pick 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 Income Pick
FWRD is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 8 yrs, beta 2.28
- Rev growth 0.8%, EPS growth 88.3%, 3Y rev CAGR 14.1%
Best for: income & stability and growth exposure
TFII
TFI International Inc.
The Long-Run Compounder
TFII carries the broadest edge in this set and is the clearest fit for long-term compounding and sleep-well-at-night.
- 7.1% 10Y total return vs FWRD's -47.3%
- Lower volatility, beta 1.30, current ratio 1.03x
- Beta 1.30, yield 1.8%, current ratio 1.03x
Best for: long-term compounding and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | TFII | 31.1% revenue growth vs FWRD's 0.8% |
| Value | TFII | Better valuation composite |
| Quality / Margins | TFII | 3.9% margin vs FWRD's -3.7% |
| Stability / Safety | TFII | Beta 1.30 vs FWRD's 2.28, lower leverage |
| Dividends | TFII | 1.8% yield; 3-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | TFII | +72.2% vs FWRD's +0.6% |
| Efficiency (ROA) | TFII | 4.7% ROA vs FWRD's -3.3%, ROIC 9.7% vs 1.2% |
FWRD vs TFII — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
Segment breakdown not available.
FWRD vs TFII — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLTFIILAGGINGFWRD
FWRDForward Air Corporati…
2leads
TFIITFI International Inc.
4leads
6 Total Categories
CATEGORYLEADERvs FWRDMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
TFII4/6
Valuation MetricsMultiples, price ratios, and targets
FWRD3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
TFII6/8
Total Returns1Y, 3Y, 5Y total returns with dividends
TFII6/6
Risk & VolatilityBeta, volatility, and downside exposure
TFII2/2
Analyst OutlookRatings, price targets, and dividends
FWRD1/1
Income & Cash Flow (Last 12 Months)
TFII leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
TFII is the larger business by revenue, generating $8.6B annually — 3.5x FWRD's $2.5B. TFII is the more profitable business, keeping 3.9% of every revenue dollar as net income compared to FWRD's -3.7%. On growth, TFII holds the edge at +28.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | FWRDForward Air Corpo… | TFIITFI International… |
|---|---|---|
| RevenueTrailing 12 months | $2.5B | $8.6B |
| EBITDAEarnings before interest/tax | $206M | $1.3B |
| Net IncomeAfter-tax profit | -$91M | $339M |
| Free Cash FlowCash after capex | $38M | $778M |
| Gross MarginGross profit ÷ Revenue | +23.1% | +12.2% |
| Operating MarginEBIT ÷ Revenue | +2.1% | +7.0% |
| Net MarginNet income ÷ Revenue | -3.7% | +3.9% |
| FCF MarginFCF ÷ Revenue | +1.6% | +9.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | -5.1% | +28.4% |
| EPS Growth (YoY)Latest quarter vs prior year | +35.1% | +23.5% |
TFII leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
FWRD leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, TFII's 9.2x EV/EBITDA is more attractive than FWRD's 13.8x.
| Metric | FWRDForward Air Corpo… | TFIITFI International… |
|---|---|---|
| Market CapShares × price | $547M | $11.4B |
| Enterprise ValueMkt cap + debt − cash | $2.6B | $14.8B |
| Trailing P/EPrice ÷ TTM EPS | -4.98x | 26.58x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 26.72x |
| PEG RatioP/E ÷ EPS growth rate | — | 2.59x |
| EV / EBITDAEnterprise value multiple | 13.75x | 9.18x |
| Price / SalesMarket cap ÷ Revenue | 0.22x | 1.03x |
| Price / BookPrice ÷ Book value/share | 3.32x | 4.32x |
| Price / FCFMarket cap ÷ FCF | 35.82x | 11.55x |
FWRD leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
TFII leads this category, winning 6 of 8 comparable metrics.
Profitability & Efficiency
TFII delivers a 12.8% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $-53 for FWRD. TFII carries lower financial leverage with a 1.38x debt-to-equity ratio, signaling a more conservative balance sheet compared to FWRD's 13.36x.
| Metric | FWRDForward Air Corpo… | TFIITFI International… |
|---|---|---|
| ROE (TTM)Return on equity | -52.6% | +12.8% |
| ROA (TTM)Return on assets | -3.3% | +4.7% |
| ROICReturn on invested capital | +1.2% | +9.7% |
| ROCEReturn on capital employed | +1.5% | +12.3% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 13.36x | 1.38x |
| Net DebtTotal debt minus cash | $2.1B | $3.5B |
| Cash & Equiv.Liquid assets | $106M | $210M |
| Total DebtShort + long-term debt | $2.2B | $3.7B |
| Interest CoverageEBIT ÷ Interest expense | 0.32x | 3.44x |
TFII leads this category, winning 6 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
TFII leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in TFII five years ago would be worth $16,420 today (with dividends reinvested), compared to $1,978 for FWRD. Over the past 12 months, TFII leads with a +72.2% total return vs FWRD's +0.6%. The 3-year compound annual growth rate (CAGR) favors TFII at 10.6% vs FWRD's -42.8% — a key indicator of consistent wealth creation.
| Metric | FWRDForward Air Corpo… | TFIITFI International… |
|---|---|---|
| YTD ReturnYear-to-date | -31.0% | +30.1% |
| 1-Year ReturnPast 12 months | +0.6% | +72.2% |
| 3-Year ReturnCumulative with dividends | -81.3% | +35.2% |
| 5-Year ReturnCumulative with dividends | -80.2% | +64.2% |
| 10-Year ReturnCumulative with dividends | -47.3% | +708.1% |
| CAGR (3Y)Annualised 3-year return | -42.8% | +10.6% |
TFII leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
TFII leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
TFII is the less volatile stock with a 1.30 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. TFII currently trades 92.7% from its 52-week high vs FWRD's 53.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FWRDForward Air Corpo… | TFIITFI International… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.28x | 1.30x |
| 52-Week HighHighest price in past year | $32.47 | $149.09 |
| 52-Week LowLowest price in past year | $14.81 | $80.56 |
| % of 52W HighCurrent price vs 52-week peak | +53.4% | +92.7% |
| RSI (14)Momentum oscillator 0–100 | 42.4 | 62.9 |
| Avg Volume (50D)Average daily shares traded | 733K | 382K |
TFII leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
FWRD leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates FWRD as "Hold" and TFII as "Buy". Consensus price targets imply 113.5% upside for FWRD (target: $37) vs -0.9% for TFII (target: $137). TFII is the only dividend payer here at 1.83% yield — a key consideration for income-focused portfolios.
| Metric | FWRDForward Air Corpo… | TFIITFI International… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $37.00 | $137.00 |
| # AnalystsCovering analysts | 21 | 19 |
| Dividend YieldAnnual dividend ÷ price | — | +1.8% |
| Dividend StreakConsecutive years of raises | 8 | 3 |
| Dividend / ShareAnnual DPS | — | $2.53 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.2% | +3.0% |
FWRD leads this category, winning 1 of 1 comparable metric.
Key Takeaway
TFII leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). FWRD leads in 2 (Valuation Metrics, Analyst Outlook).
Best OverallTFI International Inc. (TFII)Leads 4 of 6 categories
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FWRD vs TFII: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is FWRD or TFII a better buy right now?
For growth investors, TFI International Inc.
(TFII) is the stronger pick with 31. 1% revenue growth year-over-year, versus 0. 8% for Forward Air Corporation (FWRD). TFI International Inc. (TFII) offers the better valuation at 26. 6x trailing P/E (26. 7x forward), making it the more compelling value choice. Analysts rate TFI International Inc. (TFII) a "Buy" — based on 19 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.
02Which is the better long-term investment — FWRD or TFII?
Over the past 5 years, TFI International Inc.
(TFII) delivered a total return of +64. 2%, compared to -80. 2% for Forward Air Corporation (FWRD). Over 10 years, the gap is even starker: TFII returned +708. 1% versus FWRD's -47. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — FWRD or TFII?
By beta (market sensitivity over 5 years), TFI International Inc.
(TFII) is the lower-risk stock at 1. 30β versus Forward Air Corporation's 2. 28β — meaning FWRD is approximately 76% more volatile than TFII relative to the S&P 500. On balance sheet safety, TFI International Inc. (TFII) carries a lower debt/equity ratio of 138% versus 13% for Forward Air Corporation — giving it more financial flexibility in a downturn.
04Which is growing faster — FWRD or TFII?
By revenue growth (latest reported year), TFI International Inc.
(TFII) is pulling ahead at 31. 1% versus 0. 8% for Forward Air Corporation (FWRD). On earnings-per-share growth, the picture is similar: Forward Air Corporation grew EPS 88. 3% year-over-year, compared to 4. 8% for TFI International 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.
05Which has better profit margins — FWRD or TFII?
TFI International Inc.
(TFII) is the more profitable company, earning 3. 9% net margin versus -4. 3% for Forward Air Corporation — meaning it keeps 3. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TFII leads at 6. 9% versus 1. 5% for FWRD. At the gross margin level — before operating expenses — FWRD leads at 20. 5%, 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.
06Is FWRD or TFII more undervalued right now?
Analyst consensus price targets imply the most upside for FWRD: 113.
5% to $37. 00.
07Which pays a better dividend — FWRD or TFII?
In this comparison, TFII (1.
8% yield) pays a dividend. FWRD does not pay a meaningful dividend and should not be held primarily for income.
08Is FWRD or TFII better for a retirement portfolio?
For long-horizon retirement investors, TFI International Inc.
(TFII) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 30), 1. 8% yield, +708. 1% 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 (TFII: +708. 1%, FWRD: -47. 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.
09What are the main differences between FWRD and TFII?
Both stocks operate in the Industrials sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: FWRD is a small-cap quality compounder stock; TFII is a mid-cap high-growth stock. TFII pays a dividend while FWRD does not, making them suitable for different income and tax situations. 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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