Forward Industries, Inc.

Forward Industries, Inc.

FWDI
Forward Industries, Inc.US flagNASDAQ Capital Market
4.32
USD
+0.15
- -
318.61MMarket Cap
Forward Industries, Inc.
FWDI
(NASDAQ Capital Market)

Recent

price

4.32

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
23.8
28.17
36.29
38.11
40.75
35.98
32.25
28.38
37.24
39.25
35.98
39.22
37.97
36.47
18.16
2.68
0.69
Revenue per Share
-2.11
-3.59
-11.89
-0.93
-1.21
-2.29
0.71
0.66
1.49
-3.78
-1.85
0.53
-1.37
-3.71
-1.77
-24.59
-15.89
Basic EPS, GAAP
-2.13
-2.56
-13.4
2.68
0.25
-2.46
0.85
-0.16
0.97
-2.1
-0.35
-0.6
1.36
0.9
0.41
-0.67
-0.25
Free Cash Flow per Basic Share
- -
- -
- -
0.02
0.09
0.03
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
7.51
3.83
-8.07
-8.98
-10.11
-12.22
-11.28
-10.32
-8.23
-11.78
-13.56
-12.53
-13.77
-17.57
-17.82
-27.35
-16.21
Book Value per Share
26.56
23.12
11.34
11.58
11.22
8.79
9.59
10.23
8.1
4.49
3.44
4.39
3.38
-0.04
-1.34
216.48
8.48
Tangible Book Value per Share
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
7
65
Basic Weighted Avg Shares
19
23
29
31
33
30
27
25
34
37
34
39
38
37
20
18
45
Sales/Revenue/Turnover
-8.27
-9.4
-11.1
2.28
-0.3
-5.04
2.25
2.42
0.76
-8.28
-2.81
-1.96
1.54
0.44
-9.76
-35
18.26
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
-2
-3
-10
- -
-1
-1
1
1
1
-4
-2
1
-1
-4
-2
-167
-1,034
Net Income, GAAP
- -
- -
- -
8.53
- -
- -
- -
- -
- -
- -
- -
- -
0.56
11.2
- -
- -
- -
Effective Tax Rate (%)
-8.87
-12.74
-32.77
-0.67
-2.4
-4.78
2.21
2.34
4
-9.63
-5.15
1.34
-3.61
-10.18
-9.76
-918.07
-2,305.15
Profit Margin (%)
21
18
9
10
10
7
8
9
8
4
3
6
4
1
- -
38
-33
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
4
5
5
4
2
2
2
LT Debt
21
19
9
9
9
7
8
9
11
8
7
7
6
3
3
1,470
551
Total Equity
- -
- -
- -
6.91
- -
- -
7.96
7
- -
- -
- -
-5.78
5.19
1.73
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
2.99
- -
- -
-6.13
-6.22
- -
- -
- -
-11.4
15.9
32.91
- -
- -
- -
Return on Capital (%)
-24.64
-63.79
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'26
Mar'26
ST Debt
- -
4
51
LT Borrowings
- -
- -
- -
LT Finance Leases
2
2
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
86
85
76
Market Capitalization
28
223
288

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'26
Mar'26
Total Current Assets
41
63
22
Cash, Cash Equivalents & STI
38
25
17
Accounts Receivable, Net
2
3
2
Inventories
- -
- -
- -
Total Current Liabilities
3
10
55
Payables & Accruals
2
5
3
ST Debt
- -
4
51
Deferred Revenue
- -
1
1

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4,940.09%
9,880.21%
49,448.64%
Free Cash Flow
-284.33%
-285.8%
-1,095.97%
Net Income, GAAP
767.02%
1,618.18%
8,460.21%
Sales/Revenue/Turnover
-2.58%
-9.48%
-9.02%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7
5
5
7
20
2025
5
3
2
8
18
2026
21
13
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.32
-0.5
-0.36
- -
-1.77
2025
-0.64
-1.32
-0.77
- -
-24.59
2026
-5.91
-2.98
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Forward Industries, Inc. operates as a global design, manufacturing, sourcing, and distribution group specializing in carry and protective solutions. The company designs and manufactures soft goods, custom carrying cases, protective accessories, and smart technology-enabled products primarily for medical monitoring and diagnostic kits, portable electronics, and recreational equipment. Its design capabilities encompass hardware and software product development, including Internet of Things (IoT) and wearable technology solutions. Forward Industries serves original equipment manufacturers (OEMs) across the United States, Europe, and Asia-Pacific, with key operations in the United States, Poland, Germany, and China. Founded in 1961 and headquartered in Hauppauge, New York, the company’s product portfolio includes proprietary branded solutions and highly customized offerings tailored to the medical, electronics, and technology-driven markets. In the last two years, Forward Industries has strategically repositioned itself with a significant focus on digital asset management and treasury optimization, including a $1.65 billion private placement in cash and stablecoin commitments to advance its Solana treasury strategy. It rebranded its Nasdaq ticker symbol from FORD to FWDI in November 2025 to align with this new corporate focus. The company has acquired over 6.8 million SOL tokens and established a 25-member Crypto Advisory Board to enhance its Solana ecosystem participation, running an institutional-grade Solana validator on high-performance networks. Forward Industries authorized a $1 billion share repurchase program valid through September 2027 and filed a $4 billion at-the-market equity offering program to support capital growth and Solana token strategy expansion. Additionally, it has made notable operational improvements in tax optimization and staking infrastructure, driving shareholder value through these financial and strategic initiatives. The company's business segments include OEM Distribution, which sources and supplies carrying cases and accessories for medical and electronic devices, and Design, offering comprehensive product design, engineering, and technology services. Forward Industries continues to expand its market presence by leveraging strategic partnerships, innovative product development, and global supply chain capabilities, maintaining a competitive edge in highly regulated and evolving segments such as healthcare and consumer technology.

Company News

APIChatGPT
  • Statement of no intention to make an offer for Brera Holdings plc (the “Company”)

  • Statement of no intention to make an offer for Brera Holdings plc (the “Company”)

  • Critical Survey: GSE (OTCMKTS:GSEH) & Forward Industries (NASDAQ:FWDI)

  • Head-To-Head Comparison: Forward Industries (NASDAQ:FWDI) versus GSE (OTCMKTS:GSEH)

  • Forward Industries Announces Appointment of Michael Ashe to Board of Directors

  • Forward Industries Announces Appointment of Michael Ashe to Board of Directors

  • Forward Industries Expands Solana Treasury by Over 500k SOL in Fiscal Q3 2026; Now Holds Over 7.5M SOL

  • OPENING POSITION DISCLOSURE UNDER RULE 8.1(a) AND (b) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2022 BY AN OFFEROR OR AN OFFEREE

  • OPENING POSITION DISCLOSURE UNDER RULE 8.1(a) AND (b) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2022 BY AN OFFEROR OR AN OFFEREE

  • UPDATED: Forward Industries Announces Letter of Intent to Acquire Solana Company (HSDT)

  • UPDATED: Forward Industries Announces Letter of Intent to Acquire Solana Company (HSDT)

  • UPDATED: Forward Industries Announces Letter of Intent to Acquire SkyAI, Inc. (SKYA)

  • UPDATED: Forward Industries Announces Letter of Intent to Acquire SkyAI, Inc. (SKYA)

  • Forward Industries Announces Letter of Intent to Acquire Solana Company (HSDT)

  • Forward Industries Announces Letter of Intent to Acquire Solana Company (HSDT)

  • Forward Industries Announces Letter of Intent to Acquire SkyAI, Inc. (SKYA)

  • Announcing Forward's Letter of Intent to Brera Holdings PLC (SLMT)

  • Announcing Forward’s Letter of Intent to Brera Holdings PLC (SLMT)

  • Forward Industries Set to Join the Russell 2000® and 3000® Indexes

  • Forward Industries Set to Join the Russell 2000® and 3000® Indexes