FWRD vs XRPN

Comparison between Forward Air Corp (FWRD, Company) and Armada Acquisition Corp II - Class A (XRPN, Company).

FWRD is from the Industrials sector, while XRPN is from the Financial Services sector.

FWRD vs XRPN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FWRD(COMPANY)	XRPN(COMPANY)
Market Cap	$328M	$328M
Max Drawdown	93.33%	3.33%
Sharpe Ratio	-0.22	0.09
5Y Beta	2.22	-0.01
Industry	Integrated Freight & Logistics	Shell Companies
P/E Ratio	-3.55	185.23
Forward P/E	19.92	N/A
PEG Ratio	-0.22	N/A
5Y Dividends CAGR	9.00%	N/A
Debt to Equity	2086.71%	0.00%
Free Cash Flow Yield	5.21%	-0.11%
P/S Ratio	0.13	N/A
P/B Ratio	4.05	1.46

Market Cap

FWRD

$328M

Winner

XRPN

$328M

Max Drawdown

FWRD

93.33%

Winner

XRPN

3.33%

Sharpe Ratio

FWRD

-0.22

Winner

XRPN

0.09

5Y Beta

FWRD

2.22

Winner

XRPN

-0.01

Industry

FWRD

Integrated Freight & Logistics

XRPN

Shell Companies

P/E Ratio

Winner

FWRD

-3.55

XRPN

185.23

Forward P/E

FWRD

19.92

XRPN

N/A

PEG Ratio

FWRD

-0.22

XRPN

N/A

5Y Dividends CAGR

FWRD

9.00%

XRPN

N/A

Debt to Equity

FWRD

2086.71%

Winner

XRPN

0.00%

Free Cash Flow Yield

Winner

FWRD

5.21%

XRPN

-0.11%

P/S Ratio

FWRD

0.13

XRPN

N/A

P/B Ratio

FWRD

4.05

Winner

XRPN

1.46

FWRD vs XRPN - Historical Returns

Returns include dividend reinvestment.

Period	FWRD	XRPN
1 month	-52.18%	+0.58%
3 months	-59.89%	+1.02%
6 months	-59.22%	+2.56%
1 year	-39.14%	+3.78%
5 years(CAGR)	-35.64%	N/A
10 years(CAGR)	-13.13%	N/A
Max(CAGR)	+0.07%	+4.04%

FWRD

-52.18%

Winner

XRPN

+0.58%

FWRD

-59.89%

Winner

XRPN

+1.02%

FWRD

-59.22%

Winner

XRPN

+2.56%

FWRD

-39.14%

Winner

XRPN

+3.78%

5Y(CAGR)

FWRD

-35.64%

XRPN

N/A

10Y(CAGR)

FWRD

-13.13%

XRPN

N/A

Max(CAGR)

FWRD

+0.07%

Winner

XRPN

+4.04%

FWRD vs XRPN - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	FWRD	XRPN
2026	-59.41%	+1.96%
2025	-21.53%	+1.99%
2024	-48.17%	N/A
2023	-39.21%	N/A
2022	-12.25%	N/A
2021	+60.31%	N/A
2020	+11.67%	N/A
2019	+29.03%	N/A
2018	-4.04%	N/A
2017	+20.02%	N/A
2016	+12.01%	N/A
2015	-12.64%	N/A
2014	+17.83%	N/A
2013	+23.47%	N/A
2012	+6.72%	N/A
2011	+12.79%	N/A
2010	+12.36%	N/A
2009	+4.27%	N/A
2008	-18.78%	N/A
2007	+3.58%	N/A
2006	-19.43%	N/A
2005	+23.03%	N/A
2004	+58.12%	N/A
2003	+37.16%	N/A
2002	-42.51%	N/A
2001	-7.83%	N/A
2000	+31.28%	N/A
1999	+57.75%	N/A

FWRD vs XRPN Drawdown Comparison

The maximum drawdown for FWRD was -93.19%, occurring on May 19, 2026. This drawdown has not yet recovered.

The maximum drawdown for XRPN was -3.33%, occurring on Nov 26, 2025. This drawdown has not yet recovered.

The current FWRD drawdown is -91.64%. The current XRPN drawdown is -0.76%.

Rank	FWRD	XRPN
#1	-93.19% Jan 4, 2022 - May 19, 2026	-3.33% Oct 14, 2025 - Nov 26, 2025
#2	-66.93% Jul 6, 2006 - Jul 9, 2013	-0.87% Aug 14, 2025 - Sep 19, 2025
#3	-65.25% Aug 1, 2000 - Jul 22, 2005	-0.76% Oct 2, 2025 - Oct 14, 2025
#4	-42.77% Jan 16, 2020 - Nov 9, 2020	-0.67% Sep 23, 2025 - Sep 29, 2025
#5	-36.22% Mar 20, 2015 - Sep 27, 2017	-0.59% Jul 21, 2025 - Aug 13, 2025
#6	-36.00% Feb 8, 2000 - Apr 19, 2000	-0.34% Sep 29, 2025 - Oct 2, 2025
#7	-27.94% Oct 1, 2018 - Oct 28, 2019	-0.20% Jun 30, 2025 - Jul 16, 2025
#8	-17.96% Jan 19, 2018 - Jun 20, 2018	-0.10% Jun 24, 2025 - Jun 30, 2025
#9	-17.89% May 7, 2021 - Oct 29, 2021	-0.10% Jul 16, 2025 - Jul 21, 2025
#10	-17.39% Jan 6, 2000 - Feb 8, 2000	N/A
#11	-14.97% May 3, 2000 - Jun 27, 2000	N/A
#12	-14.24% Nov 22, 2005 - Jun 30, 2006	N/A
#13	-12.14% Jan 20, 2021 - Feb 9, 2021	N/A
#14	-11.72% Nov 18, 1999 - Dec 7, 1999	N/A
#15	-11.49% Dec 30, 2014 - Feb 10, 2015	N/A

Correlation

Correlation between FWRD and XRPN is -0.55 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.55

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