Symbols / FWDI Stock $4.20 -2.33% Forward Industries, Inc.

Consumer Cyclical • Footwear & Accessories • United States • NCM
FWDI (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Consumer Cyclical
Industry Footwear & Accessories
CEO Mr. Robert Wild
Exch · Country NCM · United States
Market Cap 323.31M
Enterprise Value 338.04M
Income -753.87M
Sales 35.00M
FCF (ttm) -27.56M
Book/sh 10.37
Cash/sh 0.30
Employees 60
Insider 10d —
IPO Nov 17, 1994
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E -10,500.00
PEG 2.53
P/S 9.24
P/B 0.40
P/C —
EV/EBITDA 80.52
EV/Sales 9.66
Quick Ratio 2.92
Current Ratio 6.24
Debt/Eq 0.67
LT Debt/Eq —
EPS (ttm) -29.99
EPS next Y -0.00
EPS Growth —
Revenue Growth 3.63%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2002-07-30
Earnings (prior) 2002-07-30
ROA 0.54%
ROE -170.72%
ROIC —
Gross Margin 59.74%
Oper. Margin 44.87%
Profit Margin 0.00%
Shs Outstand 76.98M
Shs Float 80.75M
Insider Own 37.08%
Instit Own 36.24%
Short Float 2.29%
Short Ratio 1.78
Short Interest 1.55M
52W High 46.00
vs 52W High -90.87%
52W Low 4.03
vs 52W Low 4.22%
Beta 0.78
Impl. Vol. 1.15%
Rel Volume 0.40
Avg Volume 899.07K
Volume 360.76K
Target (mean) $7.75
Tgt Median $7.75
Tgt Low $7.00
Tgt High $8.50
# Analysts 2
Recom Strong_buy
Prev Close $4.30
Price $4.20
Change -2.33%
About

Forward Industries, Inc. operates as a Solana (SOL) focused digital asset treasury company. The company operates through Digital Assets and Design segments. The Digital Assets segment captures SOL-based yield generated by participating in the Solana network's staking protocol. The Design segment offers hardware and software product design and engineering services to customers located in the United States. The company was incorporated in 1961 and is based in Austin, Texas.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$7.75
Mean price target
2. Current target
$4.20
Latest analyst target
3. DCF / Fair value
$-6.45
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$4.20
Low
$7.00
High
$8.50
Mean
$7.75
News
RSS: Latest FWDI news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-16 BRAZIER MARK CHRISTOPHER Chief Financial Officer — 275,000 $0.00 $0
2026-03-06 QUINN GEORGIA P General Counsel — 293,911 $0.00 $0
2026-03-06 NAVI RYAN DAVID Chief Investment Officer — 382,085 $0.00 $0
2025-12-19 NAVI RYAN DAVID Chief Investment Officer — 10,000 $7.08 $70,800
2025-12-15 PRUITT MICHAEL D Chief Executive Officer — 1,000 $7.44 $7,440
2025-09-10 MULTICOIN CAPITAL MANAGEMENT, L.L.C. Beneficial Owner of more than 10% of a Class of Security — 9,299,195 $25.20 $234,339,714
2025-09-10 MULTICOIN CAPITAL MANAGEMENT, L.L.C. Beneficial Owner of more than 10% of a Class of Security — 9,299,195 $18.50 $172,035,108
2025-09-08 SHAH SANGITA VADILAL MANILAL Director — 50,000 $18.50 $925,000
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Total Revenue
18.19
-9.02%
19.99
-45.51%
36.69
-3.97%
38.21
Operating Revenue
18.19
-9.02%
19.99
-45.51%
36.69
-3.97%
38.21
Cost Of Revenue
13.00
-12.23%
14.81
-47.72%
28.32
-3.68%
29.41
Reconciled Cost Of Revenue
13.00
-12.23%
14.81
-47.72%
28.32
-3.68%
29.41
Gross Profit
5.19
+0.15%
5.18
-38.03%
8.36
-4.95%
8.80
Operating Expense
11.56
+61.98%
7.13
-13.04%
8.20
-0.08%
8.21
Selling General And Administration
10.63
+49.04%
7.13
-13.04%
8.20
-0.08%
8.21
Selling And Marketing Expense
1.03
+33.79%
0.77
-53.76%
1.66
+12.58%
1.48
General And Administrative Expense
9.60
+50.88%
6.37
-2.68%
6.54
-2.86%
6.73
Other Gand A
9.60
+50.88%
6.37
-2.68%
6.54
-2.86%
6.73
Other Operating Expenses
0.92
—
—
—
Total Expenses
24.55
+11.90%
21.94
-39.93%
36.53
-2.90%
37.62
Operating Income
-6.37
-226.28%
-1.95
-1322.06%
0.16
-72.87%
0.59
Total Operating Income As Reported
-8.39
-290.14%
-2.15
-1447.33%
0.16
-72.87%
0.59
EBITDA
-168.69
-9546.75%
-1.75
-392.02%
0.60
-32.35%
0.89
Normalized EBITDA
-5.97
-285.33%
-1.55
-392.86%
0.53
-40.25%
0.89
Reconciled Depreciation
0.33
+0.09%
0.33
+5.06%
0.32
+2.17%
0.31
EBIT
-169.02
-8023.71%
-2.08
-835.53%
0.28
-50.88%
0.58
Total Unusual Items
-162.72
-81259.87%
-0.20
-385.71%
0.07
0.00
Total Unusual Items Excluding Goodwill
-162.72
-81259.87%
-0.20
-385.71%
0.07
0.00
Special Income Charges
-162.06
-80930.71%
-0.20
-385.71%
0.07
0.00
Other Special Charges
—
—
—
—
Impairment Of Capital Assets
2.03
+913.16%
0.20
0.00
—
Restructuring And Mergern Acquisition
160.04
0.00
+100.00%
-0.07
0.00
Net Income
-166.97
-8460.21%
-1.95
+47.80%
-3.74
-171.12%
-1.38
Pretax Income
-169.07
-7788.49%
-2.14
-1299.59%
0.18
-60.51%
0.45
Net Non Operating Interest Income Expense
0.02
+32.87%
0.02
+120.00%
-0.08
+34.36%
-0.12
Interest Expense Non Operating
0.05
-21.57%
0.06
-39.86%
0.10
-15.57%
0.12
Net Interest Income
0.02
+32.87%
0.02
+120.00%
-0.08
+34.36%
-0.12
Interest Expense
0.05
-21.57%
0.06
-39.86%
0.10
-15.57%
0.12
Interest Income Non Operating
0.07
-10.39%
0.08
+240.10%
0.02
0.00
Interest Income
0.07
-10.39%
0.08
+240.10%
0.02
0.00
Other Income Expense
-162.72
-78014.02%
-0.21
-308.28%
0.10
+893.05%
-0.01
Other Non Operating Income Expenses
-0.00
+48.97%
-0.01
-127.70%
0.03
+338.02%
-0.01
Gain On Sale Of Security
-0.66
—
—
—
Tax Provision
0.02
-11.08%
0.02
+14.70%
0.02
+683.32%
0.00
Tax Rate For Calcs
0.00
-100.00%
0.00
-88.39%
0.00
+2140.00%
0.00
Tax Effect Of Unusual Items
0.00
+100.00%
-0.00
-133.16%
0.01
0.00
Net Income Including Noncontrolling Interests
-166.97
-8460.21%
-1.95
+47.80%
-3.74
-171.12%
-1.38
Net Income From Continuing Operation Net Minority Interest
-169.09
-7705.86%
-2.17
-1465.31%
0.16
-64.73%
0.45
Net Income From Continuing And Discontinued Operation
-166.97
-8460.21%
-1.95
+47.80%
-3.74
-171.12%
-1.38
Net Income Continuous Operations
-169.09
-7705.86%
-2.17
-1465.31%
0.16
-64.73%
0.45
Net Income Discontinuous Operations
2.11
+880.85%
0.22
+105.53%
-3.90
-113.07%
-1.83
Normalized Income
-6.37
-223.51%
-1.97
-2140.23%
0.10
-78.55%
0.45
Net Income Common Stockholders
-166.97
-8460.21%
-1.95
+47.80%
-3.74
-171.12%
-1.38
Diluted EPS
-24.59
-1289.27%
-1.77
+52.16%
-3.70
-164.29%
-1.40
Basic EPS
-24.59
-1289.27%
-1.77
+52.16%
-3.70
-164.29%
-1.40
Basic Average Shares
6.79
+516.78%
1.10
+9.44%
1.01
+0.00%
1.01
Diluted Average Shares
6.79
+516.78%
1.10
+9.44%
1.01
-1.37%
1.02
Diluted NI Availto Com Stockholders
-166.97
-8460.21%
-1.95
+47.80%
-3.74
-171.12%
-1.38
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Total Assets
1,474.94
+9887.18%
14.77
-15.06%
17.39
-16.97%
20.94
Current Assets
41.22
+327.20%
9.65
-15.13%
11.37
-20.69%
14.34
Cash Cash Equivalents And Short Term Investments
38.17
+1274.33%
2.78
-12.68%
3.18
+23.49%
2.58
Cash And Cash Equivalents
38.17
+1274.33%
2.78
-12.68%
3.18
+23.49%
2.58
Cash Financial
38.17
+1274.33%
2.78
-12.68%
3.18
+23.49%
2.58
Receivables
2.70
-24.63%
3.58
-48.61%
6.97
-7.61%
7.54
Accounts Receivable
1.64
-29.17%
2.31
-66.87%
6.97
-7.61%
7.54
Gross Accounts Receivable
1.73
-26.04%
2.34
-70.53%
7.92
-5.82%
8.41
Allowance For Doubtful Accounts Receivable
-0.09
-238.53%
-0.03
+97.15%
-0.96
-9.63%
-0.87
Other Receivables
1.06
-16.40%
1.27
—
—
Inventory
—
0.49
+46.54%
0.33
-48.62%
0.65
Finished Goods
—
—
—
4.34
Prepaid Assets
—
—
—
0.42
Assets Held For Sale Current
0.00
-100.00%
2.91
+472.36%
0.51
-83.87%
3.15
Other Current Assets
0.36
-7.13%
0.38
+1.14%
0.38
-9.36%
0.42
Total Non Current Assets
1,433.72
+27910.38%
5.12
-14.91%
6.02
-8.88%
6.60
Net PPE
2.43
-13.64%
2.81
-14.69%
3.30
-10.18%
3.67
Gross PPE
2.92
-8.87%
3.21
-14.79%
3.76
-6.94%
4.04
Accumulated Depreciation
-0.49
-25.13%
-0.39
+15.45%
-0.47
-24.93%
-0.37
Machinery Furniture Equipment
0.52
-1.32%
0.53
-7.03%
0.57
+5.37%
0.54
Other Properties
2.40
-10.36%
2.68
-16.17%
3.19
-8.84%
3.50
Goodwill And Other Intangible Assets
0.00
-100.00%
2.24
-15.58%
2.65
-7.44%
2.86
Goodwill
0.00
-100.00%
1.56
-11.37%
1.76
+0.00%
1.76
Other Intangible Assets
—
0.68
-23.85%
0.89
-19.26%
1.11
Other Non Current Assets
1,431.29
+2082173.63%
0.07
+0.00%
0.07
+0.00%
0.07
Total Liabilities Net Minority Interest
4.82
-59.18%
11.80
-20.10%
14.77
+0.66%
14.67
Current Liabilities
2.72
-70.94%
9.37
-13.52%
10.84
+8.60%
9.98
Payables And Accrued Expenses
1.89
+286.57%
0.49
-95.07%
9.92
+11.08%
8.93
Payables
1.36
+1209.66%
0.10
-98.82%
8.76
+9.81%
7.98
Accounts Payable
0.43
+318.07%
0.10
-80.04%
0.52
+93.50%
0.27
Other Payable
—
—
—
—
Current Accrued Expenses
0.54
+38.86%
0.39
-66.64%
1.16
+21.79%
0.95
Current Debt And Capital Lease Obligation
0.45
-55.09%
1.00
+141.34%
0.42
+10.08%
0.38
Current Debt
—
0.60
—
—
Other Current Borrowings
—
0.60
—
—
Current Capital Lease Obligation
0.45
+11.61%
0.40
-2.88%
0.42
+10.08%
0.38
Current Deferred Liabilities
0.29
-26.77%
0.40
+34.31%
0.30
-32.23%
0.44
Current Deferred Revenue
0.29
-26.77%
0.40
+34.31%
0.30
-32.23%
0.44
Other Current Liabilities
0.09
-98.83%
7.48
+3625.42%
0.20
-12.30%
0.23
Total Non Current Liabilities Net Minority Interest
2.09
-13.81%
2.43
-38.23%
3.93
-16.21%
4.69
Long Term Debt And Capital Lease Obligation
2.09
-13.81%
2.43
-38.23%
3.93
-15.40%
4.65
Long Term Debt
—
—
1.10
-21.43%
1.40
Long Term Capital Lease Obligation
2.09
-13.81%
2.43
-14.26%
2.83
-12.80%
3.25
Other Non Current Liabilities
—
—
—
0.04
Stockholders Equity
1,470.12
+49448.64%
2.97
+13.41%
2.62
-58.25%
6.27
Common Stock Equity
1,470.12
+191563.59%
0.77
-70.68%
2.62
-58.25%
6.27
Capital Stock
0.86
-61.04%
2.21
+19980.02%
0.01
-89.06%
0.10
Common Stock
0.86
+7723.59%
0.01
+0.00%
0.01
-89.06%
0.10
Preferred Stock
0.00
-100.00%
2.20
0.00
—
Share Issued
86.15
+7723.81%
1.10
+9.44%
1.01
+0.00%
1.01
Ordinary Shares Number
86.15
+7723.81%
1.10
+9.44%
1.01
+0.00%
1.01
Additional Paid In Capital
1,655.87
+8019.76%
20.39
+0.50%
20.29
+0.88%
20.12
Retained Earnings
-186.61
-850.30%
-19.64
-11.03%
-17.69
-26.79%
-13.95
Total Equity Gross Minority Interest
1,470.12
+49448.64%
2.97
+13.41%
2.62
-58.25%
6.27
Total Capitalization
1,470.12
+49448.64%
2.97
-20.16%
3.72
-51.53%
7.67
Working Capital
38.50
+13757.42%
0.28
-47.99%
0.53
-87.75%
4.36
Invested Capital
1,470.12
+107441.21%
1.37
-63.21%
3.72
-51.53%
7.67
Total Debt
2.55
-25.88%
3.43
-21.06%
4.35
-13.48%
5.03
Net Debt
—
—
—
—
Capital Lease Obligations
2.55
-10.19%
2.83
-12.80%
3.25
-10.42%
3.63
Net Tangible Assets
1,470.12
+201742.63%
0.73
+2156.27%
-0.04
-101.04%
3.40
Tangible Book Value
1,470.12
+99996.50%
-1.47
-4054.73%
-0.04
-101.04%
3.40
Current Notes Payable
0.00
-100.00%
0.60
—
—
Dueto Related Parties Current
0.92
0.00
-100.00%
8.25
+6.90%
7.71
Inventories Adjustments Allowances
—
—
—
-0.54
Line Of Credit
—
—
—
—
Preferred Stock Equity
—
2.20
—
—
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Operating Cash Flow
-4.50
-966.17%
0.52
-50.07%
1.04
-32.17%
1.53
Cash Flow From Continuing Operating Activities
-4.90
-325.27%
-1.15
-210.64%
1.04
-32.17%
1.53
Cash From Discontinued Operating Activities
0.40
-76.30%
1.67
—
—
Net Income From Continuing Operations
-166.97
-8460.21%
-1.95
+47.80%
-3.74
-171.12%
-1.38
Depreciation Amortization Depletion
0.33
+0.09%
0.33
+5.06%
0.32
+2.17%
0.31
Depreciation And Amortization
0.33
+0.09%
0.33
+5.06%
0.32
+2.17%
0.31
Other Non Cash Items
—
—
-0.07
—
Stock Based Compensation
2.87
+2733.22%
0.10
+17.19%
0.09
-57.02%
0.20
Asset Impairment Charge
2.13
+871.20%
0.22
+178.61%
0.08
-70.26%
0.26
Operating Gains Losses
154.88
—
—
—
Gain Loss On Investment Securities
-3.75
—
—
—
Gain Loss On Sale Of PPE
160.04
0.00
—
—
Change In Working Capital
1.86
+1177.18%
0.15
-96.66%
4.37
+104.26%
2.14
Change In Receivables
0.83
-31.93%
1.22
+147.18%
0.50
-48.06%
0.95
Changes In Account Receivables
0.62
-58.95%
1.52
+207.22%
0.50
-48.06%
0.95
Change In Inventory
—
-0.16
-149.17%
0.32
+192.42%
0.11
Change In Prepaid Assets
0.03
+144.84%
-0.06
-255.66%
0.04
-72.75%
0.14
Change In Payables And Accrued Expense
1.11
+198.19%
-1.13
-214.64%
0.99
-60.23%
2.48
Change In Accrued Expense
-0.04
+94.27%
-0.74
-462.68%
0.20
-67.36%
0.62
Change In Payable
1.15
+394.23%
-0.39
-150.06%
0.78
-57.83%
1.86
Change In Account Payable
0.23
+158.56%
-0.39
-256.29%
0.25
—
Change In Other Working Capital
-0.11
-204.78%
0.10
+172.12%
-0.14
-156.32%
0.25
Change In Other Current Assets
—
0.50
-80.92%
2.64
+243.34%
-1.84
Change In Other Current Liabilities
0.00
-95.21%
0.01
-57.29%
0.03
-35.40%
0.04
Investing Cash Flow
-901.47
-1383493.67%
-0.07
+52.12%
-0.14
+19.78%
-0.17
Cash Flow From Continuing Investing Activities
-901.47
-1383493.67%
-0.07
+52.12%
-0.14
+19.78%
-0.17
Net PPE Purchase And Sale
-0.03
+60.44%
-0.07
+52.12%
-0.14
+19.78%
-0.17
Purchase Of PPE
-0.03
+60.44%
-0.07
+52.12%
-0.14
+19.78%
-0.17
Capital Expenditure
-0.03
+60.44%
-0.07
+52.12%
-0.14
+19.78%
-0.17
Net Business Purchase And Sale
-0.65
0.00
—
—
Purchase Of Business
-0.65
0.00
—
—
Gain Loss On Sale Of Business
-1.41
0.00
—
—
Net Other Investing Changes
-900.79
—
—
—
Financing Cash Flow
941.36
+188371.71%
-0.50
-66.67%
-0.30
-50.00%
-0.20
Cash Flow From Continuing Financing Activities
941.36
+188371.71%
-0.50
-66.67%
-0.30
-50.00%
-0.20
Net Issuance Payments Of Debt
1.76
+452.17%
-0.50
-66.67%
-0.30
-50.00%
-0.20
Issuance Of Debt
2.36
0.00
—
0.00
Repayment Of Debt
-0.60
-20.00%
-0.50
-66.67%
-0.30
-50.00%
-0.20
Long Term Debt Issuance
—
—
—
—
Long Term Debt Payments
—
-0.50
-66.67%
-0.30
-50.00%
-0.20
Net Long Term Debt Issuance
—
-0.50
-66.67%
-0.30
-50.00%
-0.20
Short Term Debt Issuance
2.36
0.00
—
0.00
Short Term Debt Payments
-0.60
-20.00%
-0.50
—
0.00
Net Short Term Debt Issuance
1.76
+452.17%
-0.50
—
0.00
Net Common Stock Issuance
2.24
0.00
—
—
Proceeds From Stock Option Exercised
901.14
0.00
—
0.00
Net Other Financing Charges
36.22
—
—
—
Changes In Cash
35.39
+78078.69%
-0.05
-107.50%
0.60
-48.08%
1.17
Beginning Cash Position
2.78
-1.61%
2.82
+9.59%
2.58
+82.61%
1.41
End Cash Position
38.17
+1274.33%
2.78
-12.68%
3.18
+23.49%
2.58
Free Cash Flow
-4.53
-1095.97%
0.45
-49.76%
0.90
-33.71%
1.37
Interest Paid Supplemental Data
0.05
-21.93%
0.06
-39.86%
0.10
-15.57%
0.12
Income Tax Paid Supplemental Data
0.03
+353.69%
0.01
-31.18%
0.01
-5.39%
0.01
Common Stock Issuance
2.24
0.00
—
—
Issuance Of Capital Stock
2.24
0.00
—
—
Sale Of Business
—
—
—
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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