$Forward Air (FWRD.US)$Revenue has been growing rapidly in t...
$Forward Air (FWRD.US)$Revenue has been growing rapidly in the past two years, with increases of 31% and 18.7% in 2021 and 2022 respectively. Operating profit also increased by 1.15 times and 0.67 times in these two years, while net income grew by 3.5 times and 0.83 times.
In the first two quarters of 2023, revenue shrunk by 15.6%, operating profit decreased by 39.3%, and net income decreased by 42.6%.
The current PE ratio is 10, the trailing PE ratio has risen to 12.6. If net income shrinks by 40% for the full year, the PE ratio will increase to 16.7. Calculating the PE ratio based on a 5-year average net income of 0.1 billion, it would be 18.3. From the perspective of cyclical stocks, the valuation seems relatively normal with no significant discount.
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