FORWARD INDUSTRIES INC (FWDI) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:FWDI • US3498624093

5.23 USD
+0.66 (+14.44%)
At close: Feb 6, 2026
5.33 USD
+0.1 (+1.91%)
After Hours: 2/6/2026, 8:00:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to FWDI. FWDI was compared to 123 industry peers in the Electronic Equipment, Instruments & Components industry. While FWDI has a great health rating, there are worries on its profitability. FWDI does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

1

1. Profitability

1.1 Basic Checks

  • FWDI had negative earnings in the past year.
  • In the past year FWDI has reported a negative cash flow from operations.
  • FWDI had negative earnings in 4 of the past 5 years.
  • In multiple years FWDI reported negative operating cash flow during the last 5 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -50M -100M -150M

1.2 Ratios

  • The Return On Assets of FWDI (-11.32%) is worse than 65.04% of its industry peers.
  • FWDI has a Return On Equity of -11.36%. This is in the lower half of the industry: FWDI underperforms 64.23% of its industry peers.
Industry RankSector Rank
ROA -11.32%
ROE -11.36%
ROIC N/A
ROA(3y)-15.34%
ROA(5y)-10%
ROE(3y)-73.31%
ROE(5y)-46.99%
ROIC(3y)N/A
ROIC(5y)N/A
FWDI Yearly ROA, ROE, ROICFWDI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -50 -100

1.3 Margins

  • FWDI has a Gross Margin (27.55%) which is in line with its industry peers.
  • In the last couple of years the Gross Margin of FWDI has grown nicely.
  • 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 27.55%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y13.03%
GM growth 5Y8.19%
FWDI Yearly Profit, Operating, Gross MarginsFWDI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -200 -400 -600 -800

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ROAROEROICOperating and Profit MarginShow most profitable peers

8

2. Health

2.1 Basic Checks

  • FWDI does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • FWDI has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for FWDI has been increased compared to 5 years ago.
  • FWDI has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
FWDI Yearly Shares OutstandingFWDI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
FWDI Yearly Total Debt VS Total AssetsFWDI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B

2.2 Solvency

  • An Altman-Z score of 56.17 indicates that FWDI is not in any danger for bankruptcy at the moment.
  • FWDI's Altman-Z score of 56.17 is amongst the best of the industry. FWDI outperforms 96.75% of its industry peers.
  • FWDI has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 56.17
ROIC/WACCN/A
WACC15.82%
FWDI Yearly LT Debt VS Equity VS FCFFWDI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B

2.3 Liquidity

  • FWDI has a Current Ratio of 15.14. This indicates that FWDI is financially healthy and has no problem in meeting its short term obligations.
  • FWDI has a better Current ratio (15.14) than 95.12% of its industry peers.
  • FWDI has a Quick Ratio of 15.14. This indicates that FWDI is financially healthy and has no problem in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 15.14, FWDI belongs to the top of the industry, outperforming 95.94% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 15.14
Quick Ratio 15.14
FWDI Yearly Current Assets VS Current LiabilitesFWDI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

0

3. Growth

3.1 Past

  • FWDI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -422.57%.
  • Looking at the last year, FWDI shows a very negative growth in Revenue. The Revenue has decreased by -33.17% in the last year.
  • The Revenue for FWDI have been decreasing by -12.01% on average. This is quite bad
EPS 1Y (TTM)-422.57%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-1076.39%
Revenue 1Y (TTM)-33.17%
Revenue growth 3Y-24.55%
Revenue growth 5Y-12.01%
Sales Q2Q%8.45%

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 2025 10M 20M 30M 40M
FWDI Yearly EPS VS EstimatesFWDI Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 -0.2 -0.4 -0.6

More info and screens

Find the best growth stocksShow best growing peers

0

4. Valuation

4.1 Price/Earnings Ratio

  • FWDI reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
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 5 -5 10 15

4.3 Compensation for Growth

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

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • No dividends for FWDI!.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

FORWARD INDUSTRIES INC

NASDAQ:FWDI (2/6/2026, 8:00:00 PM)

After market: 5.33 +0.1 (+1.91%)

5.23

+0.66 (+14.44%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)12-26
Earnings (Next)02-11
Inst Owners38.24%
Inst Owner Change0%
Ins Owners1.59%
Ins Owner Change100%
Market Cap452.19M
Revenue(TTM)20.18M
Net Income(TTM)-167.00M
Analysts82.86
Price Target10.2 (95.03%)
Short Float %1.65%
Short Ratio1.4
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)0%
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 22.41
P/FCF N/A
P/OCF N/A
P/B 0.31
P/tB 0.31
EV/EBITDA N/A
EPS(TTM)-9.6
EYN/A
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)-0.05
FCFYN/A
OCF(TTM)-0.05
OCFYN/A
SpS0.23
BVpS17
TBVpS17
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -11.32%
ROE -11.36%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 27.55%
FCFM N/A
ROA(3y)-15.34%
ROA(5y)-10%
ROE(3y)-73.31%
ROE(5y)-46.99%
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 3Y13.03%
GM growth 5Y8.19%
F-Score5
Asset Turnover0.01
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 7.77%
Cap/Sales 0.13%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 15.14
Quick Ratio 15.14
Altman-Z 56.17
F-Score5
WACC15.82%
ROIC/WACCN/A
Cap/Depr(3y)23.5%
Cap/Depr(5y)29.31%
Cap/Sales(3y)0.28%
Cap/Sales(5y)0.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-422.57%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-1076.39%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-33.17%
Revenue growth 3Y-24.55%
Revenue growth 5Y-12.01%
Sales Q2Q%8.45%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-256.5%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-1096.02%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-966.12%
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 3 / 10 to FWDI.


What is the valuation status of FORWARD INDUSTRIES INC (FWDI) stock?

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


How profitable is FORWARD INDUSTRIES INC (FWDI) stock?

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


How sustainable is the dividend of FORWARD INDUSTRIES INC (FWDI) stock?

The dividend rating of FORWARD INDUSTRIES INC (FWDI) is 0 / 10 and the dividend payout ratio is 0%.