FWRD vs CHRW vs EXPD Stock Comparison

Forward Air, C. H. Robinson Worldwide and Expeditors International Of Washington Prices as of Nov 2, 2026 Peers: Industry group
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FWRD Forward Air Corp
$18.32 +15.1% 1M -2.6% 1Y
Market cap
$618.04M
P/E
–
Revenue (TTM)
$2.52B
Div. yield
–
Logistics Industrials
1 win

Head to Head

12 decided of 12

C. H. Robinson Worldwide leads on 6 of the 12 questions below (C. H. Robinson Worldwide 6, Expeditors International Of Washington 5, Forward Air 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFWRDCHRWEXPDLeader
Larger companyMarket capitalisation $618.04M $15.07B $26.06B EXPD
Cheaper on earningsLower P/E, profitable companies only -2.1x 22.8x 28.6x CHRW
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 21.0x 27.2x CHRW
Faster revenue growthRevenue growth, trailing twelve months -0.1% +10.4% +6.8% CHRW
More profitableNet margin, trailing twelve months -11.4% 3.7% 7.6% EXPD
Better return on capitalReturn on invested capital -9.8% 21.3% — CHRW
Less leveragedLower net debt / EBITDA -115.3x 1.7x — FWRD
Higher dividend yieldTrailing dividend yield 0.00% 1.96% 0.79% CHRW
Better 1-year returnPrice return, last 12 months -2.6% -16.4% +64.4% EXPD
Better 5-year returnAnnualised price return, 5 years -29.5%/yr +6.4%/yr +9.4%/yr EXPD
Less volatileAnnualised volatility, 1 year 93.7% 45.1% 30.9% EXPD
Higher overall scoreMean of the five percentile scores vs peers 19/100 43/100 43/100 CHRW

Percentile Scorecard

FWRDCHRWEXPD

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisFWRDCHRWEXPD
Valuation 31 #95 of 137 25 #103 of 137 13 #120 of 137
Growth 18 #102 of 124 42 #73 of 124 35 #81 of 124
Profitability 17 #102 of 122 49 #63 of 122 63 #46 of 122
Financial Health 11 #131 of 147 40 #88 of 147 60 #60 of 147
Shareholder Returns – 61 #34 of 85 43 #49 of 85
Overall 19 43 43
  • FWRD ranked among 150 companies in Transportation
  • CHRW ranked among 150 companies in Transportation
  • EXPD ranked among 150 companies in Transportation

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodFWRDCHRWEXPDSPY
1 month +15.1%-18.4%+4.2% -2.3%
3 months +24.9%-12.4%+17.5% -0.7%
6 months +12.9%-20.2%+43.4% +4.8%
Year to date -26.7%-19.9%+34.5% +10.3%
1 year -2.6%-16.4%+64.4% +10.3%
3 years -72.3%+57.6%+77.4% +73.0%
3 years, per year -34.9%+16.4%+21.1% +20.1%
5 years -82.6%+36.2%+56.9% +61.9%
5 years, per year -29.5%+6.4%+9.4% +10.1%
10 years -55.9%+88.0%+292.7% +258.6%
10 years, per year -7.9%+6.5%+14.7% +13.6%

Risk

MeasureFWRDCHRWEXPDSPY
Volatility, 1Y 93.7%45.1%30.9% 12.8%
Downside volatility, 1Y 115.1%53.4%33.2% 12.8%
Beta vs S&P 500, 1Y 1.500.690.49 1.00
Return / volatility, 1Y -0.03-0.362.09 0.80
Max drawdown, 5Y -93.3%-43.2%-36.0% -25.4%
From 52-week high -39.4%-38.5%0.0% -3.5%
52-week high $30.23$209.42$200.41 $779.14
52-week low $8.31$124.61$122.46 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleFWRDCHRWEXPD
P/E now vs peer median -2.1xmedian 16.1x 22.8xmedian 16.1x 28.6xmedian 16.1x
P/S now vs peer median 0.2xmedian 0.9x 0.8xmedian 0.9x 2.2xmedian 0.9x
EV/EBITDA now vs peer median -161.2xmedian 8.1x 17.1xmedian 8.1x 20.2xmedian 8.1x
P/FCF now vs peer median 12.8xmedian 11.4x 29.0xmedian 11.4x 28.2xmedian 11.4x
P/B now vs peer median -5.0xmedian 1.2x 9.5xmedian 1.2x 12.3xmedian 1.2x
PEG now vs peer median 0.04median 0.75 1.16median 0.75 243.85median 0.75

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsFWRDCHRWEXPD
Revenue $2.52B $18.22B $12.04B
Gross profit – $2.86B $3.94B
Operating income -$168.73M $884.59M $1.18B
Net income -$330.71M $668.81M $921.33M
Free cash flow $48.22M $519.78M $923.86M
EPS (diluted) $-8.81 $5.58 $6.99
Cash & equivalents $139.45M $193.13M $1.03B
Total debt $1.69B $1.87B –
Shares (diluted) 32.48M 119.75M 131.37M
Enterprise value $83.99M $14.41B $21.21B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricFWRDCHRWEXPD
P/E -2.1x 22.8x 28.6x
P/FCF 12.8x 29.0x 28.2x
P/Operating cash flow 8.7x 28.2x 26.8x
P/S 0.2x 0.8x 2.2x
P/B -5.0x 9.5x 12.3x
P/Tangible book -0.6x 9.8x 12.3x
EV/EBITDA -161.2x 17.1x 20.2x
EV/EBIT -12.9x 18.9x 21.1x
EV/Revenue 0.9x 0.9x 2.1x
EV/FCF 45.0x 32.2x 27.1x
EV/Operating cash flow 30.7x 31.4x 25.7x
PEG (3Y EPS CAGR) 0.04 1.16 243.85

Growth

14 metrics
MetricFWRDCHRWEXPD
Revenue growth (1Y) -0.1% 10.4% 6.8%
Revenue CAGR (3Y) 18.1% -0.4% -1.6%
Gross profit growth (1Y) – 3.9% 8.5%
Gross profit CAGR (3Y) – 1.3% 0.5%
Operating income growth (1Y) -237.4% 10.9% 6.0%
Operating income CAGR (3Y) -42.5% 15.7% -5.0%
Net income growth (1Y) -72.8% 11.5% 7.9%
Net income CAGR (3Y) -61.1% 19.7% -4.3%
EPS growth (1Y) -54.9% 12.9% 12.0%
EPS CAGR (3Y) -52.0% 19.7% 0.1%
Operating cash flow growth (1Y) 67.4% -39.1% 12.9%
Operating cash flow CAGR (3Y) -34.7% -28.5% -19.5%
Free cash flow growth (1Y) 503.2% -39.4% 14.0%
Free cash flow CAGR (3Y) -39.4% -28.5% -20.0%

Profitability

14 metrics
MetricFWRDCHRWEXPD
Gross margin – 15.7% 32.7%
EBITDA margin -0.5% 5.4% 10.3%
Operating margin -6.7% 4.9% 9.8%
Pretax margin -13.9% 4.5% 10.2%
Net margin -11.4% 3.7% 7.6%
FCF margin 1.9% 2.9% 7.7%
Operating cash flow margin 2.8% 2.9% 8.1%
Return on equity – 41.7% 41.8%
Return on assets -13.6% 10.9% 18.6%
Return on invested capital -9.8% 21.3% –
Return on capital employed -8.0% 29.2% 49.3%
Asset turnover 1.0x 3.0x 2.4x
Cash conversion (OCF / net income) -0.2x 0.8x 1.1x
Stock comp / revenue 0.4% 0.5% 0.6%

Financial Health

11 metrics
MetricFWRDCHRWEXPD
Debt / assets 70.2% 29.3% –
Debt / equity -13.8x 1.2x –
Net debt / EBITDA -115.3x 1.7x –
Debt / FCF 35.1x 3.6x –
Liabilities / assets 105.1% 75.3% 58.7%
Equity / assets -5.1% 24.7% 41.3%
Interest coverage -1.0x – –
Current ratio 1.3x 1.3x 1.6x
Quick ratio 1.2x 1.3x 1.4x
Cash ratio 0.3x 0.1x 0.4x
Altman Z-score 0.63 6.78 9.26

Shareholder Returns

7 metrics
MetricFWRDCHRWEXPD
Dividend yield – 2.0% 0.8%
Net buyback yield – 4.3% 3.2%
Shareholder yield 0.0% 6.2% 4.0%
Payout ratio (earnings) – – 34.0%
Payout ratio (FCF) – – 33.9%
Dividend growth (1Y) – – 1.6%
Dividend CAGR (3Y) – – -0.3%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusFWRDCHRWEXPD
Forward P/E – 21.0xFY2026 27.2xFY2026
EPS, next fiscal year $-0.86FY2026 $6.12FY2026 $7.38FY2026
EPS growth, next FY – +20.2%FY2026 +24.0%FY2026
EPS growth, the year after – +19.0% +6.9%
Revenue, next fiscal year $2.49BFY2026 $18.98BFY2026 $12.65BFY2026
Revenue growth, next FY -0.3%FY2026 +16.9%FY2026 +14.3%FY2026
Revenue growth, the year after +9.5% +1.5% +10.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFWRDCHRWEXPD
Held by institutions 90.3% 100.0% 96.4%
Institutions holding 189 893 961
Change in shares held, QoQ +3.5% -1.7% -0.7%
Institutions buying 118 446 449
Institutions selling 45 319 357
Buyers to sellers 2.62 1.40 1.26

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

FWRDCHRWEXPD
FWRD 1.00 0.22 0.14
CHRW 0.22 1.00 0.60
EXPD 0.14 0.60 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FWRD, CHRW and EXPD?

Expeditors International Of Washington (EXPD) is the largest by market capitalisation: Forward Air (FWRD) $618.04M, C. H. Robinson Worldwide (CHRW) $15.07B, Expeditors International Of Washington (EXPD) $26.06B.

Which stock is cheaper, FWRD, CHRW and EXPD?

C. H. Robinson Worldwide (CHRW) trades on the lowest price-to-earnings ratio (Forward Air (FWRD) -2.1x, C. H. Robinson Worldwide (CHRW) 22.8x, Expeditors International Of Washington (EXPD) 28.6x). On next year's consensus earnings, C. H. Robinson Worldwide (CHRW) is cheapest (C. H. Robinson Worldwide (CHRW) 21.0x, Expeditors International Of Washington (EXPD) 27.2x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

C. H. Robinson Worldwide (CHRW) grew revenue fastest over the trailing twelve months: Forward Air (FWRD) -0.1%, C. H. Robinson Worldwide (CHRW) +10.4%, Expeditors International Of Washington (EXPD) +6.8%.

Which company is more profitable?

Expeditors International Of Washington (EXPD) has the highest net margin (Forward Air (FWRD) -11.4%, C. H. Robinson Worldwide (CHRW) 3.7%, Expeditors International Of Washington (EXPD) 7.6%). On return on invested capital, C. H. Robinson Worldwide (CHRW) leads (Forward Air (FWRD) -9.8%, C. H. Robinson Worldwide (CHRW) 21.3%).

Which stock has performed better?

Over the past year Expeditors International Of Washington (EXPD) returned the most: Forward Air (FWRD) -2.6%, C. H. Robinson Worldwide (CHRW) -16.4%, Expeditors International Of Washington (EXPD) +64.4%. Over five years, Expeditors International Of Washington (EXPD) compounded fastest (Forward Air (FWRD) -29.5%/yr, C. H. Robinson Worldwide (CHRW) +6.4%/yr, Expeditors International Of Washington (EXPD) +9.4%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

C. H. Robinson Worldwide (CHRW) has the highest dividend yield: Forward Air (FWRD) 0.00%, C. H. Robinson Worldwide (CHRW) 1.96%, Expeditors International Of Washington (EXPD) 0.79%. Forward Air (FWRD) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Expeditors International Of Washington (EXPD) has been the steadiest (Forward Air (FWRD) 93.7%, C. H. Robinson Worldwide (CHRW) 45.1%, Expeditors International Of Washington (EXPD) 30.9%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, FWRD, CHRW and EXPD?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, C. H. Robinson Worldwide (CHRW) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.