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Forward Air (Forward Air) E10 : $3.63 (As of Dec. 2023)


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What is Forward Air E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Forward Air's adjusted earnings per share data for the three months ended in Dec. 2023 was $3.930. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.63 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Forward Air's average E10 Growth Rate was 16.30% per year. During the past 3 years, the average E10 Growth Rate was 19.60% per year. During the past 5 years, the average E10 Growth Rate was 14.30% per year. During the past 10 years, the average E10 Growth Rate was 9.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Forward Air was 22.80% per year. The lowest was 0.90% per year. And the median was 8.50% per year.

As of today (2024-04-26), Forward Air's current stock price is $23.04. Forward Air's E10 for the quarter that ended in Dec. 2023 was $3.63. Forward Air's Shiller PE Ratio of today is 6.35.

During the past 13 years, the highest Shiller PE Ratio of Forward Air was 49.83. The lowest was 6.34. And the median was 31.65.


Forward Air E10 Historical Data

The historical data trend for Forward Air's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Forward Air E10 Chart

Forward Air Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.14 2.12 2.47 3.12 3.63

Forward Air Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.12 3.26 3.31 3.32 3.63

Competitive Comparison of Forward Air's E10

For the Integrated Freight & Logistics subindustry, Forward Air's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Forward Air's Shiller PE Ratio Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Forward Air's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Forward Air's Shiller PE Ratio falls into.



Forward Air E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Forward Air's adjusted earnings per share data for the three months ended in Dec. 2023 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=3.93/129.4194*129.4194
=3.930

Current CPI (Dec. 2023) = 129.4194.

Forward Air Quarterly Data

per share eps CPI Adj_EPS
201403 0.330 99.695 0.428
201406 0.550 100.560 0.708
201409 0.540 100.428 0.696
201412 0.550 99.070 0.718
201503 0.160 99.621 0.208
201506 0.380 100.684 0.488
201509 0.500 100.392 0.645
201512 0.750 99.792 0.973
201603 0.430 100.470 0.554
201606 -0.330 101.688 -0.420
201609 0.390 101.861 0.496
201612 0.420 101.863 0.534
201703 0.480 102.862 0.604
201706 0.650 103.349 0.814
201709 0.610 104.136 0.758
201712 1.180 104.011 1.468
201803 0.600 105.290 0.738
201806 0.820 106.317 0.998
201809 0.760 106.507 0.923
201812 0.950 105.998 1.160
201903 0.640 107.251 0.772
201906 0.780 108.070 0.934
201909 0.780 108.329 0.932
201912 0.850 108.420 1.015
202003 0.300 108.902 0.357
202006 0.110 108.767 0.131
202009 0.600 109.815 0.707
202012 -0.170 109.897 -0.200
202103 0.400 111.754 0.463
202106 1.110 114.631 1.253
202109 0.860 115.734 0.962
202112 1.480 117.630 1.628
202203 1.570 121.301 1.675
202206 2.040 125.017 2.112
202209 1.930 125.227 1.995
202212 1.600 125.222 1.654
202303 1.370 127.348 1.392
202306 0.760 128.729 0.764
202309 0.360 129.860 0.359
202312 3.930 129.419 3.930

Add all the adjusted EPS together and divide 10 will get our e10.


Forward Air  (NAS:FWRD) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Forward Air's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=23.04/3.63
=6.35

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Forward Air was 49.83. The lowest was 6.34. And the median was 31.65.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Forward Air E10 Related Terms

Thank you for viewing the detailed overview of Forward Air's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Forward Air (Forward Air) Business Description

Traded in Other Exchanges
N/A
Address
1915 Snapps Ferry Road, Building N, Greeneville, TN, USA, 37745
Forward Air Corp is an asset-light freight and logistics company. The company's operating segment includes Expedited Freight and Intermodal. It generates maximum revenue from the Expedited Freight segment. Expedited Freight segment operates a comprehensive national network to provide expedited regional, inter-regional and national LTL (less-than-truckload) services. It also offers customers local pick-up and delivery and other services including final mile, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.
Executives
Chris C Ruble officer: Sr. Vice President, Operations PO BOX 1058, GREENVILLIE TN 37744
Kyle R Mitchin officer: Senior VP, Human Resources 1915 SNAPPS FERRY ROAD, BUILDING N, GREENEVILLE TN 37745
Nancee L Ronning officer: Chief Commercial Officer 1915 SNAPPS FERRY ROAD, BUILDING N, GREENEVILLE TN 37745
Javier Polit director 1915 SNAPPS FERRY ROAD, BUILDING N, GREENEVILLE TN 37745
Mayes George S Jr director 5995 MAYFAIR ROAD, NORTH CANTON OH 44720
Craig Carlock director C/O THE FRESH MARKET, INC., 628 GREEN VALLEY ROAD, SUITE 500, GREENSBORO NC 27408
George M Lynch director 2566 KENT RIDGE COURT, BLOOMFIELD HILLS MI 48025
C Robert Campbell director 800 DOUGLAS ROAD, 12TH FLOOR, CORAL GABLES FL 33134
Michael L Hance officer: Senior VP, CLO and Secretary 430 AIRPORT ROAD, GREENEVILLE TN 37745
Chitra Nayak director 1400 16TH STREET, SAN FRANCISCO CA 94103
Thomas Schmitt officer: President & CEO 1915 SNAPPS FERRY ROAD, BUILDING N, GREENEVILLE TN 37745
Ronald W Allen director P O BOX 1734, ATLANTA GA 30301
Laurie Anne Tucker director 65 MARYS CREEK COVE NORTH, EADS TN 38028
Scott M Niswonger director, 10 percent owner, officer: CEO & Chairman 165 MADISON AVENUE, MEMPHIS TN 38103
Rebecca J Garbrick officer: CAO, VP and Controller 1915 SNAPPS FERRY ROAD, BUILDING N, GREENEVILLE TN 37745