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FORWARD INDUSTRIES INC (FWDI) Stock Fundamental Analysis

USA - Nasdaq - NASDAQ:FWDI - US3498624093 - Common Stock

7.86 USD
-1.04 (-11.69%)
Last: 12/1/2025, 8:17:32 PM
8.12 USD
+0.26 (+3.31%)
After Hours: 12/1/2025, 8:17:32 PM
Fundamental Rating

1

We assign a fundamental rating of 1 out of 10 to FWDI. FWDI was compared to 125 industry peers in the Electronic Equipment, Instruments & Components industry. While FWDI seems to be doing ok healthwise, there are quite some concerns on its profitability. FWDI does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year FWDI has reported negative net income.
In the past year FWDI has reported a negative cash flow from operations.
In the past 5 years FWDI reported 4 times negative net income.
The reported operating cash flow has been mixed in the past 5 years: FWDI reported negative operating cash flow in multiple years.
FWDI Yearly Net Income VS EBIT VS OCF VS FCFFWDI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1M -1M -2M -3M

1.2 Ratios

With a Return On Assets value of -44.17%, FWDI is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
The Return On Equity of FWDI (-109.33%) is worse than 85.60% of its industry peers.
Industry RankSector Rank
ROA -44.17%
ROE -109.33%
ROIC N/A
ROA(3y)-13.76%
ROA(5y)-9.57%
ROE(3y)-76.86%
ROE(5y)-50.13%
ROIC(3y)N/A
ROIC(5y)N/A
FWDI Yearly ROA, ROE, ROICFWDI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50 -100

1.3 Margins

FWDI's Gross Margin of 10.50% is on the low side compared to the rest of the industry. FWDI is outperformed by 80.00% of its industry peers.
FWDI's Gross Margin has improved in the last couple of years.
FWDI does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 10.5%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.44%
GM growth 5Y3.17%
FWDI Yearly Profit, Operating, Gross MarginsFWDI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

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4

2. Health

2.1 Basic Checks

FWDI does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, FWDI has more shares outstanding
FWDI has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, FWDI has an improved debt to assets ratio.
FWDI Yearly Shares OutstandingFWDI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
FWDI Yearly Total Debt VS Total AssetsFWDI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M

2.2 Solvency

An Altman-Z score of 90.00 indicates that FWDI is not in any danger for bankruptcy at the moment.
FWDI has a Altman-Z score of 90.00. This is amongst the best in the industry. FWDI outperforms 99.20% of its industry peers.
A Debt/Equity ratio of 0.18 indicates that FWDI is not too dependend on debt financing.
FWDI's Debt to Equity ratio of 0.18 is in line compared to the rest of the industry. FWDI outperforms 47.20% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF N/A
Altman-Z 90
ROIC/WACCN/A
WACC8.87%
FWDI Yearly LT Debt VS Equity VS FCFFWDI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2M -2M 4M 6M 8M 10M

2.3 Liquidity

FWDI has a Current Ratio of 1.51. This is a normal value and indicates that FWDI is financially healthy and should not expect problems in meeting its short term obligations.
FWDI has a worse Current ratio (1.51) than 75.20% of its industry peers.
FWDI has a Quick Ratio of 1.51. This is a normal value and indicates that FWDI is financially healthy and should not expect problems in meeting its short term obligations.
FWDI has a Quick ratio (1.51) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.51
Quick Ratio 1.51
FWDI Yearly Current Assets VS Current LiabilitesFWDI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M

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0

3. Growth

3.1 Past

FWDI shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.59%.
FWDI shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -30.05%.
FWDI shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -4.19% yearly.
EPS 1Y (TTM)-5.59%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-113.89%
Revenue 1Y (TTM)-30.05%
Revenue growth 3Y-8.19%
Revenue growth 5Y-4.19%
Sales Q2Q%-68.37%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
FWDI Yearly Revenue VS EstimatesFWDI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
FWDI Yearly EPS VS EstimatesFWDI Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 -0.2 -0.4 -0.6

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0

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for FWDI. In the last year negative earnings were reported.
Industry RankSector Rank
PE N/A
Fwd PE N/A
FWDI Price Earnings VS Forward Price EarningsFWDI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0 0 0 0 0 0 0

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
FWDI Per share dataFWDI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 -1 -2 -3

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for FWDI!.
Industry RankSector Rank
Dividend Yield N/A

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FORWARD INDUSTRIES INC

NASDAQ:FWDI (12/1/2025, 8:17:32 PM)

After market: 8.12 +0.26 (+3.31%)

7.86

-1.04 (-11.69%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)08-12 2025-08-12
Earnings (Next)12-26 2025-12-26
Inst Owners9.74%
Inst Owner Change0%
Ins Owners1.62%
Ins Owner ChangeN/A
Market Cap679.58M
Revenue(TTM)19.56M
Net Income(TTM)-3.66M
AnalystsN/A
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 34.74
P/FCF N/A
P/OCF N/A
P/B 202.8
P/tB 454.14
EV/EBITDA N/A
EPS(TTM)-3.31
EYN/A
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)-0.02
FCFYN/A
OCF(TTM)-0.02
OCFYN/A
SpS0.23
BVpS0.04
TBVpS0.02
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -44.17%
ROE -109.33%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 10.5%
FCFM N/A
ROA(3y)-13.76%
ROA(5y)-9.57%
ROE(3y)-76.86%
ROE(5y)-50.13%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.44%
GM growth 5Y3.17%
F-Score4
Asset Turnover2.36
Health
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 12.27%
Cap/Sales 0.21%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.51
Quick Ratio 1.51
Altman-Z 90
F-Score4
WACC8.87%
ROIC/WACCN/A
Cap/Depr(3y)39.17%
Cap/Depr(5y)32.93%
Cap/Sales(3y)0.33%
Cap/Sales(5y)0.27%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.59%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-113.89%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-30.05%
Revenue growth 3Y-8.19%
Revenue growth 5Y-4.19%
Sales Q2Q%-68.37%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-866.3%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-325.81%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-285%
OCF growth 3YN/A
OCF growth 5YN/A

FORWARD INDUSTRIES INC / FWDI FAQ

What is the fundamental rating for FWDI stock?

ChartMill assigns a fundamental rating of 1 / 10 to FWDI.


Can you provide the valuation status for FORWARD INDUSTRIES INC?

ChartMill assigns a valuation rating of 0 / 10 to FORWARD INDUSTRIES INC (FWDI). This can be considered as Overvalued.


Can you provide the profitability details for FORWARD INDUSTRIES INC?

FORWARD INDUSTRIES INC (FWDI) has a profitability rating of 1 / 10.


How financially healthy is FORWARD INDUSTRIES INC?

The financial health rating of FORWARD INDUSTRIES INC (FWDI) is 4 / 10.