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Forward Industries, Inc. FWDI

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5.70 USD 0.00 (+0.00%)

At closeNov 6, 2026, 7:56 PM EST

5.69 -0.01 -0.18%

After hours · Nov 6, 7:56 PM ET

5.60 Day range 5.90
3.54 52-week range 10.94
YTD
-13.77%
1 year
-41.05%

Financial health

Altman Z-Score

-3.49 Distress zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

2 / 9 Weak

Nine pass/fail tests of profitability, leverage and efficiency.

Rating

C+2 / 5 overall

  • DCF 2
  • Return on Equity 1
  • Return on Assets 1
  • Debt / Equity 3
  • P/E 1
  • P/B 4

Valuation

P/E -10.4×
FY 2016: 426×FY 2017: 351×FY 2018: 103×FY 2019: -25.5×FY 2020: -73.2×FY 2021: 454×FY 2022: -95.0×FY 2023: -20.5×FY 2024: -21.1×FY 2025: -10.4×
FY 2016 5y median -20.5× FY 2025
P/S 95.5×
FY 2016: 9.2×FY 2017: 8.7×FY 2018: 4.2×FY 2019: 2.5×FY 2020: 3.9×FY 2021: 6.1×FY 2022: 3.5×FY 2023: 2.1×FY 2024: 1.4×FY 2025: 95.5×
FY 2016 5y median 3.5× FY 2025
P/B 1.2×
FY 2016: 31.1×FY 2017: 24.0×FY 2018: 12.9×FY 2019: 12.0×FY 2020: 20.2×FY 2021: 31.9×FY 2022: 21.4×FY 2023: 29.2×FY 2024: 13.8×FY 2025: 1.2×
FY 2016 5y median 21.4× FY 2025
P/FCF -384×
FY 2016: 353×FY 2017: -1559×FY 2018: 159×FY 2019: -46.2×FY 2020: -402×FY 2021: -399×FY 2022: 98.0×FY 2023: 84.5×FY 2024: 90.3×FY 2025: -384×
FY 2016 5y median 84.5× FY 2025
EV/EBITDA -10.1×
FY 2016: 372×FY 2017: 328×FY 2018: 180×FY 2019: -29.8×FY 2020: -105×FY 2021: 236×FY 2022: 154×FY 2023: 130×FY 2024: -27.1×FY 2025: -10.1×
FY 2016 5y median 130× FY 2025
EV/Sales 93.5×
FY 2016: 9.1×FY 2017: 8.5×FY 2018: 4.1×FY 2019: 2.5×FY 2020: 4.0×FY 2021: 6.2×FY 2022: 3.6×FY 2023: 2.1×FY 2024: 1.4×FY 2025: 93.5×
FY 2016 5y median 3.6× FY 2025
FCF Yield -0.3%
FY 2016: 0.3%FY 2017: -0.1%FY 2018: 0.6%FY 2019: -2.2%FY 2020: -0.2%FY 2021: -0.3%FY 2022: 1.0%FY 2023: 1.2%FY 2024: 1.1%FY 2025: -0.3%
FY 2016 5y median 1.0% FY 2025

Profitability

Gross Margin 28.5%
FY 2016: 18.5%FY 2017: 16.9%FY 2018: 19.0%FY 2019: 17.6%FY 2020: 19.3%FY 2021: 20.8%FY 2022: 23.0%FY 2023: 22.8%FY 2024: 20.6%FY 2025: 28.5%
FY 2016 5y median 22.8% FY 2025
Operating Margin -35.0%
FY 2016: 2.2%FY 2017: 2.4%FY 2018: 0.8%FY 2019: -8.3%FY 2020: -2.8%FY 2021: -2.0%FY 2022: 1.5%FY 2023: 0.4%FY 2024: -6.4%FY 2025: -35.0%
FY 2016 5y median -2.0% FY 2025
Net Margin -918.1%
FY 2016: 2.2%FY 2017: 2.3%FY 2018: 4.0%FY 2019: -9.6%FY 2020: -5.1%FY 2021: 1.3%FY 2022: -3.6%FY 2023: -10.2%FY 2024: -6.5%FY 2025: -918.1%
FY 2016 5y median -6.5% FY 2025
ROE -11.4%
FY 2016: 7.4%FY 2017: 6.5%FY 2018: 12.4%FY 2019: -46.7%FY 2020: -27.0%FY 2021: 7.0%FY 2022: -22.0%FY 2023: -142.8%FY 2024: -65.7%FY 2025: -11.4%
FY 2016 5y median -22.0% FY 2025
ROIC -0.4%
FY 2016: 7.5%FY 2017: 6.7%FY 2018: 1.9%FY 2019: -28.7%FY 2020: -6.7%FY 2021: -5.9%FY 2022: 5.2%FY 2023: 2.0%FY 2024: -30.2%FY 2025: -0.4%
FY 2016 5y median -0.4% FY 2025
ROA -11.3%
FY 2016: 4.9%FY 2017: 4.4%FY 2018: 7.2%FY 2019: -22.4%FY 2020: -9.2%FY 2021: 2.6%FY 2022: -6.6%FY 2023: -21.5%FY 2024: -13.2%FY 2025: -11.3%
FY 2016 5y median -11.3% FY 2025

Growth (YoY)

Revenue -39.8%
FY 2016: -8.4%FY 2017: -9.9%FY 2018: 39.3%FY 2019: 8.4%FY 2020: -7.8%FY 2021: 13.2%FY 2022: -2.1%FY 2023: -4.0%FY 2024: -17.7%FY 2025: -39.8%
FY 2016 FY 2025
Operating Income -229.4%
FY 2016: 140.8%FY 2017: -3.0%FY 2018: -56.4%FY 2019: -1288.3%FY 2020: 68.8%FY 2021: 20.9%FY 2022: 176.9%FY 2023: -72.9%FY 2024: -1310.4%FY 2025: -229.4%
FY 2016 FY 2025
EPS (diluted) -1289.3%
FY 2016: 141.2%FY 2017: 0.0%FY 2018: 114.3%FY 2019: -353.3%FY 2020: 50.0%FY 2021: 126.4%FY 2022: -378.9%FY 2023: -164.3%FY 2024: 52.2%FY 2025: -1289.3%
FY 2016 FY 2025
Free Cash Flow -1096.0%
FY 2016: 135.0%FY 2017: -119.1%FY 2018: 754.3%FY 2019: -322.4%FY 2020: 83.5%FY 2021: -79.7%FY 2022: 329.2%FY 2023: -33.7%FY 2024: -49.8%FY 2025: -1096.0%
FY 2016 FY 2025

Financial Health

Current Ratio 15.1×
FY 2016: 3.0×FY 2017: 3.1×FY 2018: 2.0×FY 2019: 1.4×FY 2020: 1.4×FY 2021: 1.8×FY 2022: 1.4×FY 2023: 1.0×FY 2024: 1.0×FY 2025: 15.1×
FY 2016 5y median 1.4× FY 2025
Quick Ratio 15.1×
FY 2016: 2.3×FY 2017: 2.6×FY 2018: 1.8×FY 2019: 1.2×FY 2020: 1.2×FY 2021: 1.5×FY 2022: 1.4×FY 2023: 1.0×FY 2024: 1.0×FY 2025: 15.1×
FY 2016 5y median 1.4× FY 2025
Debt / Equity 0.0×
FY 2016: 0.0×FY 2017: 0.0×FY 2018: 0.2×FY 2019: 0.4×FY 2020: 1.2×FY 2021: 0.7×FY 2022: 0.8×FY 2023: 1.7×FY 2024: 1.2×FY 2025: 0.0×
FY 2016 5y median 0.8× FY 2025
Net Debt / EBITDA 0.2×
FY 2016: -7.1×FY 2017: -7.2×FY 2018: -2.6×FY 2019: 0.0×FY 2020: -3.7×FY 2021: 4.0×FY 2022: 2.8×FY 2023: 2.0×FY 2024: -0.3×FY 2025: 0.2×
FY 2016 5y median 2.0× FY 2025
Interest Coverage -130×
FY 2016: 0.0×FY 2017: 0.0×FY 2018: 2.3×FY 2019: -15.4×FY 2020: -5.5×FY 2021: -4.4×FY 2022: 4.8×FY 2023: 1.5×FY 2024: -30.8×FY 2025: -130×
FY 2016 5y median -4.4× FY 2025

Dividends

Dividend Yield 0.0%
FY 2016: 0.0%FY 2017: 0.0%FY 2018: 0.0%FY 2019: 0.0%FY 2020: 0.0%FY 2021: 0.0%FY 2022: 0.0%FY 2023: 0.0%FY 2024: 0.0%FY 2025: 0.0%
FY 2016 5y median 0.0% FY 2025
Payout Ratio 0.0%
FY 2016: 0.0%FY 2017: 0.0%FY 2018: 0.0%FY 2019: 0.0%FY 2020: 0.0%FY 2021: 0.0%FY 2022: 0.0%FY 2023: 0.0%FY 2024: 0.0%FY 2025: 0.0%
FY 2016 5y median 0.0% FY 2025

Annual · latest fiscal year ends 2025-09-30