Forward Industries
FWDI
7.39
-0.75
-9.21%
Forward Industries
US · FWDI
#3669 by market cap
7.39
-0.75
-9.21%
Live - 5344 symbols - heartbeat 319s ago
· 2026-10-08 09:18
Pre-market
7.22
-2.30%
After-hours
7.58
+2.57%
Overnight
7.35
-0.54%
- Market cap
- 563.77M
- P/E (TTM)i
- -0.23
- P/Bi
- 1.19
- EPSi
- -24.59
- Div yieldi
- 0.00%
- 52W posi
- 18%
Reader sentiment
Are you bullish or bearish on FWDI?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 70.07, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year -9.02% YoY
Margins
- Gross margin
- 28.54%
- Operating margin
- -35.00%
- Net margin
- -918.07%
Key ratios & quality
- Altman Z-Scorei
- 70.07
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 34.50M | 37.41M | 34.48M | 39.02M | 38.21M | 36.69M | 19.99M | 18.19M |
| Gross profit | 6.57M | 6.58M | 6.64M | 8.13M | 8.80M | 8.36M | 5.18M | 5.19M |
| Selling & admin expenses | 6.31M | 9.68M | 7.61M | 8.90M | 8.21M | 8.20M | 7.13M | 10.63M |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 260.65K | -3.10M | -967.38K | -765.00K | 588.47K | 159.66K | -1.95M | -6.37M |
| Pretax profit | 632.32K | -3.61M | -1.77M | 523.81K | 452.45K | 178.66K | -2.14M | -169.07M |
| Tax | -747.00K | -4.16K | 9.17K | 0 | 2.55K | 20.01K | 22.95K | 20.40K |
| Net profit | 1.38M | -3.60M | -1.78M | 523.81K | -1.38M | -3.74M | -1.95M | -166.97M |
| Basic EPS | 2 | -4 | -2 | 1 | -1 | -3 | -2 | -25 |
| Diluted EPS | 1.50 | -3.80 | -1.90 | 0.50 | -1.40 | -3.39 | -1.77 | -24.59 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 3.12M | 2.49M | 7.95M | 21.44M | 12.96M | 10.78M |
| Gross profit | -178.76K | -620.96K | 4.86M | 16.85M | 9.07M | 6.70M |
| Selling & admin expenses | 1.64M | 1.94M | 5.25M | 3.79M | 6.63M | 7.43M |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | -1.82M | -2.56M | -1.31M | 9.62M | 2.44M | -727.82K |
| Pretax profit | -1.82M | -2.40M | -163.94M | -582.96M | -283.96M | -70.69M |
| Tax | 0 | 0 | 20.40K | 2.69M | -875.35K | -1.73M |
| Net profit | -1.45M | -850.02K | -163.96M | -585.65M | -283.08M | -68.96M |
| Basic EPS | -1 | -1 | -2 | -6 | -3 | -1 |
| Diluted EPS | -1.32 | -0.77 | -1.90 | -5.91 | -2.98 | -0.80 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 15.21M | 11.84M | 12.22M | 12.79M | 14.34M | 11.37M | 9.65M | 41.22M |
| Cash & ST investments | 4.37M | 3.09M | 2.92M | 1.41M | 2.58M | 3.18M | 2.78M | 38.17M |
| Inventory | 1.57M | 1.61M | 1.28M | 2.06M | 650.85K | 334.38K | -- | -- |
| Total assets | 19.23M | 16.09M | 19.36M | 19.86M | 20.94M | 17.39M | 14.77M | 1.47B |
| Total current liabilities | 7.62M | 8.30M | 8.83M | 7.21M | 9.98M | 10.84M | 9.37M | 2.72M |
| Short-term debt | 2.18M | 2.99M | 3.86M | 340.15K | 377.94K | 416.04K | 1.00M | 450.95K |
| Long-term debt | 54.34K | -- | 529.97K | 1.60M | 1.40M | 1.10M | -- | -- |
| Total liabilities | 8,128,271.00 | 8,383,053.00 | 12,773,196.00 | 12,412,096.00 | 14,672,588.00 | 14,769,881.00 | 11,801,322.00 | 4,817,622.00 |
| Total equity | 11.10M | 7.71M | 6.58M | 7.44M | 6.27M | 2.62M | 2.97M | 1.47B |
| Retained earnings | -7.72M | -11.32M | -13.10M | -12.57M | -13.95M | -17.69M | -19.64M | -186.61M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 7.67M | 3.57M | 41.22M | 62.95M | 21.62M | 22.12M |
| Cash & ST investments | 1.80M | 1.26M | 38.17M | 25.39M | 16.63M | 13.28M |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 12.34M | 8.29M | 1.47B | 892.95M | 608.51M | 602.53M |
| Total current liabilities | 6.45M | 2.35M | 2.72M | 10.08M | 54.58M | 127.77M |
| Short-term debt | 1.06M | 1.07M | 450.95K | 3.93M | 50.51M | 117.96M |
| Long-term debt | -- | -- | -- | -- | -- | -- |
| Total liabilities | 8,759,489.00 | 4,943,358.00 | 4,817,622.00 | 12,084,535.00 | 57,056,141.00 | 128,323,452.00 |
| Total equity | 3.58M | 3.35M | 1.47B | 880.86M | 551.46M | 474.21M |
| Retained earnings | -21.80M | -22.65M | -186.61M | -772.26M | -1.06B | -1.12B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 956.49K | -1.97M | -262.95K | -528.31K | 1.53M | 1.04M | 519.77K | -4.50M |
| Depreciation & amortization | 228.19K | 311.58K | 271.97K | 327.29K | 309.24K | 315.94K | 331.93K | 332.23K |
| Free cash flow | 900.60K | -2.00M | -331.40K | -595.52K | 1.37M | 904.95K | 454.62K | -4.53M |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -- | -- | -- | -- | -- | 0 | 2.24M |
| Ending cash balance | 4.37M | 3.09M | 2.92M | 1.41M | 2.58M | 3.18M | 2.78M | 38.17M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -537.61K | -1.23M | -2.30M | -7.93M | -4.80M | -3.35M |
| Depreciation & amortization | 82.75K | 83.02K | 82.71K | 25.64K | 23.27K | 20.83K |
| Free cash flow | -539.05K | -1.25M | -2.30M | -7.93M | -4.80M | -3.35M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 0 | 0 | 2.24M | -10.88M | -47.14M | -11.84M |
| Ending cash balance | 1.80M | 1.26M | 38.17M | 25.39M | 16.63M | 10.97M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 13.77 | -38.32 | -24.84 | 7.47 | -20.11 | -84.13 | -115.31 | -22.70 |
| ROA %i | 8.52 | -20.41 | -10.02 | 2.67 | -6.76 | -19.50 | -12.13 | -22.42 |
| ROIC %i | 11.89 | -28.21 | -13.49 | 4.45 | -10.62 | -40.14 | -35.15 | -22.61 |
| 5-year avg ROE %i | -1.09 | -6.61 | -6.96 | -7.03 | -12.40 | -31.99 | -47.38 | -46.96 |
| EBIT margin %i | 2.17 | -9.11 | -4.61 | 1.78 | -2.96 | 0.77 | -6.17 | -929.32 |
| FCF / sales %i | 2.61 | -- | -- | -- | 3.22 | 2.47 | 1.13 | -- |
| Current ratioi | 2.00 | 1.43 | 1.38 | 1.78 | 1.44 | 1.05 | 1.03 | 15.14 |
| Quick ratioi | 1.76 | 1.18 | 1.19 | 1.41 | 1.01 | 0.94 | 0.68 | 15.00 |
| Debt / assetsi | 11.94 | 18.77 | 40.11 | 27.70 | 24.01 | 25.02 | 23.25 | 0.17 |
| LT debt / equityi | 1.07 | 0.34 | 59.27 | 69.31 | 74.20 | 150.36 | 316.77 | 0.14 |
| Interest coveragei | 6.48 | -16.95 | -9.09 | 4.05 | -10.15 | 2.71 | -29.71 | -3,439.34 |
| Revenue CAGR (3Y) %i | 4.75 | 10.83 | 11.66 | 4.19 | 0.71 | 2.09 | -19.98 | -21.92 |
| Net income CAGR (3Y) %i | -- | -- | -- | -27.58 | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | -1,511.93 | -- | -22.70 | -170.71 | -375.76 | -466.18 |
| ROA %i | -23.27 | -31.15 | -22.42 | -165.91 | -332.95 | -360.71 |
| ROIC %i | -84.79 | -- | -22.61 | -169.03 | -341.01 | -370.76 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | -12.99 | -22.05 | -929.32 | -452.93 | -2,304.34 | -2,072.55 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- |
| Current ratioi | 1.19 | 1.51 | 15.14 | 6.24 | 0.40 | 0.17 |
| Quick ratioi | 0.69 | 1.35 | 15.00 | 6.03 | 0.36 | 0.12 |
| Debt / assetsi | 27.32 | 39.31 | 0.17 | 0.66 | 8.71 | 19.67 |
| LT debt / equityi | -- | -- | 0.14 | 0.23 | 0.45 | 0.12 |
| Interest coveragei | -71.34 | -115.39 | -3,439.34 | -- | -12,190.11 | -1,867.33 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Digital Assets Segment is the largest reported line at 68.14% of revenue, across 2 reported segments.
- Design segment follows at 31.86%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Digital Assets Segment68.14%
Design segment31.86%
Quote time 2026-10-08 09:18:32 · For reference only, not investment advice and not tailored to your situation.