# Forward Industries Inc. (FWDI) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Financial Services / Capital Markets. Price $6.15, market value $469 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Forward Industries Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 8.8×**. Each dollar of revenue is priced at 8.8×.
- **Price / book: 1.0×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **Free-cash-flow yield: -3.9%** (5-yr avg 5.2%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 70.6%**. Forward Industries Inc. keeps 70.6% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Net margin: -918.1%**. The company reported a net loss over the last twelve months.
- **Return on equity: -11.4%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -50.6%**. Return on all capital, debt included, is -50.6%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -74.7%**. Each dollar of assets produces -74.7% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -9.0%** (3-yr -21.9%/yr, 5-yr -12.0%/yr). Revenue fell 9.0% over the last year, against -12.0% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -1289.3%**. Earnings per share fell 1289.3%, slower than revenue, so margins compressed.

## Financial health
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Forward Industries Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -58.4%** (YTD -9.4%, 3-mo 47.2%). The shares are down 58.4% over twelve months including dividends.
- **From 52-week high: -46.3%** (76.7% above the low). Trading 46% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 38**. An RSI of 38 is neutral.
- **Beta (1 yr): 3.82** (volatility 94%). Beta of 3.82 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FWDI · Page: https://foliofundamentals.com/stocks/fwdi

Not investment advice.