WallStSmart

Forward Air Corporation (FWRD)vsZTO Express (Cayman) Inc (ZTO)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

ZTO Express (Cayman) Inc generates 2053% more annual revenue ($54.21B vs $2.52B). ZTO leads profitability with a 19.0% profit margin vs -11.4%. FWRD appears more attractively valued with a PEG of 0.66. ZTO earns a higher WallStSmart Score of 80/100 (B+).

FWRD

Buy

52

out of 100

Grade: C-

Growth: 8.0Profit: 4.0Value: 6.0Quality: 5.5
Piotroski: 4/9Altman Z: 0.80

ZTO

Strong Buy

80

out of 100

Grade: B+

Growth: 8.7Profit: 7.5Value: 8.7Quality: 7.5
Piotroski: 5/9Altman Z: 3.42
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for FWRD.

ZTOUndervalued (+65.7%)

Margin of Safety

+65.7%

Fair Value

$72.52

Current Price

$20.61

$51.91 discount

UndervaluedFair: $72.52Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FWRD3 strengths · Avg: 9.3/10
EPS GrowthGrowth
145.0%10/10

Earnings expanding 145.0% YoY

Debt/EquityHealth
-18.2810/10

Conservative balance sheet, low leverage

PEG RatioValuation
0.668/10

Growing faster than its price suggests

ZTO6 strengths · Avg: 9.0/10
P/E RatioValuation
11.0x10/10

Attractively priced relative to earnings

EPS GrowthGrowth
58.1%10/10

Earnings expanding 58.1% YoY

Altman Z-ScoreHealth
3.4210/10

Safe zone — low bankruptcy risk

Price/BookValuation
1.7x8/10

Reasonable price relative to book value

Operating MarginProfitability
22.2%8/10

Strong operational efficiency at 22.2%

Revenue GrowthGrowth
23.0%8/10

Revenue surging 23.0% year-over-year

Areas to Watch

FWRD4 concerns · Avg: 2.3/10
Market CapQuality
$553.33M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
-112.9%2/10

ROE of -112.9% — below average capital efficiency

Free Cash FlowQuality
$-8.10M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.802/10

Distress zone — elevated risk

ZTO0 concerns · Avg: 0/10

No major concerns identified

Comparative Analysis Report

WallStSmart Research

Bull Case : FWRD

The strongest argument for FWRD centers on EPS Growth, Debt/Equity, PEG Ratio. PEG of 0.66 suggests the stock is reasonably priced for its growth.

Bull Case : ZTO

The strongest argument for ZTO centers on P/E Ratio, EPS Growth, Altman Z-Score. Profitability is solid with margins at 19.0% and operating margin at 22.2%. Revenue growth of 23.0% demonstrates continued momentum.

Bear Case : FWRD

The primary concerns for FWRD are Market Cap, Return on Equity, Free Cash Flow.

Bear Case : ZTO

No major red flags identified for ZTO, but monitor valuation.

Key Dynamics to Monitor

FWRD profiles as a turnaround stock while ZTO is a growth play — different risk/reward profiles.

FWRD carries more volatility with a beta of 1.36 — expect wider price swings.

ZTO is growing revenue faster at 23.0% — sustainability is the question.

ZTO generates stronger free cash flow (1.9B), providing more financial flexibility.

Bottom Line

ZTO scores higher overall (80/100 vs 52/100), backed by strong 19.0% margins and 23.0% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Forward Air Corporation

INDUSTRIALS · INTEGRATED FREIGHT & LOGISTICS · USA

Forward Air Corporation is a light freight logistics and transportation company in the United States and Canada. The company is headquartered in Greeneville, Tennessee.

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ZTO Express (Cayman) Inc

INDUSTRIALS · INTEGRATED FREIGHT & LOGISTICS · China

ZTO Express (Cayman) Inc. provides express delivery and other value-added logistics services in the People's Republic of China. The company is headquartered in Shanghai, the People's Republic of China.

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