# Forward Industries Inc. (FWDI) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Basic Materials / Chemicals. Price $6.31, market value $466 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.

## 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
- **Debt to equity: 0.00**. Debt is 0.00 times equity: a conservative balance sheet.
- **Current ratio: 15.14** (quick 15.14). Current assets cover the next year's liabilities 15.14 times.
- **Altman Z-score: 59.45**. A Z-score of 59.45 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

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

## Analyst view
- **Analyst consensus: strong_buy** (3 analysts). 3 analysts cover Forward Industries Inc.; the consensus is strong_buy, with an average price target of $7.83 (+24% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -57.8%** (YTD -4.5%, 3-mo 71.0%). The shares are down 57.8% over twelve months including dividends.
- **From 52-week high: -86.3%** (81.3% above the low). Trading 86% 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): 63**. An RSI of 63 is neutral.
- **Beta (1 yr): 3.87** (volatility 121%). Beta of 3.87 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.