Forward Industries Inc.
FWDI | NASDAQ
$6.44
+$0.09 (+1.42%)
Nov 2, 2026, 10:15 AM ET · Market open
Market Data
Market Cap $491.3M
Enterprise Value $589.65M
Beta 0.85
Average Volume 1.77M
Shares Outstanding (Diluted) 86.69M
Shares Change YoY 678.46%
Institutional Ownership 35.22%
Exchange NASDAQ
ISIN US3499321038
Price Performance
Price Change 1M -21.1%
Price Change 3M 58.2%
Price Change 6M 43.4%
Price Change YTD -2.6%
Price Change 1Y -53.9%
Price Change 3Y -8.0%
Price Change 5Y -71.9%
1M CAGR (ann.) -17.5%
1Y CAGR (ann.) -55.9%
5Y CAGR (ann.) -22.6%
All-Time CAGR -11.8%
Valuation
PE Ratio -0.53
Forward PE 33.44
PEG Ratio -0.00
Forward PEG 0.01
PS Ratio 9.12
Forward PS 7.20
PB Ratio 1.02
P/FCF Ratio -26.35
P/Adj. FCF Ratio -19.29
P/OCF Ratio -30.24
EV/Sales 11.10
EV/EBIT -1.16
EV/EBITDA -1.16
EV/FCF -32.07
Earnings Yield -187.1%
FCF Yield -3.8%
Adj. FCF Yield -5.2%
Financial Health
Net Debt $104.67M
Total Debt $118.51M
Cash & Short-Term Investments $13.28M
Total Assets $602.53M
Current Ratio 0.17
Quick Ratio 0.17
Debt / Equity Ratio 0.25
Debt / EBITDA -0.23
Debt / FCF -6.45
OCF / Debt -0.16
Interest Coverage -100.99
Altman Z-Score -3.26
Piotroski F-Score 2
Margins & Profitability
Gross Profit Margin 70.6%
Operating Profit Margin -112.0%
EBITDA Margin -957.8%
Net Profit Margin -2073.8%
FCF Margin -34.6%
Adj. FCF Margin -47.3%
SBC / Revenue 12.7%
SBC Impact (per share) -36.6%
Returns
Return on Assets -182.8%
Return on Equity -130.5%
Return on Invested Capital -10.0%
Return on Capital Employed -12.5%
Return on Tangible Assets -413.1%
Historical Growth (CAGR)
Revenue CAGR 3Y 9.6%
Revenue CAGR 5Y 7.7%
Revenue CAGR 10Y 6.5%
EPS CAGR 3Y -138.4%
EPS CAGR 5Y -92.1%
EPS CAGR 10Y -51.4%
FCF CAGR 3Y -141.7%
FCF CAGR 5Y -112.5%
FCF CAGR 10Y 24.1%
Analyst Forecasts
Analyst Rating Buy
Analyst Count 2
EPS Growth Next 3Y N/A
Revenue Growth Next 3Y N/A
Earnings Date Dec 10, 2026
EPS Estimate (next Q) $0.02
EPS Growth Est (next Q) -100.9%
Revenue Est (next Q) $12.48M
Revenue Growth Est (next Q) 57.1%
Fair Value Estimates
Graham Number N/A
Graham Upside N/A
Lynch Fair Value N/A
Lynch Upside N/A
Price Target $16.00
Price Target Upside 152.0%
Cash Flow
Operating Cash Flow $-18.38M
Free Cash Flow $-18.38M
Adj. Free Cash Flow $-25.12M
FCF Per Share -$0.21
OCF Per Share -$0.21
OCF/S Ratio -34.6%
Income Statement
Revenue $53.12M
Gross Profit $37.48M
Operating Income $-59.52M
EBITDA $-508.77M
Net Income $-1.1B
EPS (Diluted) -$11.88
Revenue / Employee $885.36K
Profit / Employee $-18.36M
Employees 60
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