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FWDI

BEARISH
$4.58 Live
Forward Industries, Inc. · NASDAQ
Target $8.5 (+85.6%)
$4.03 52W Range $46.0

At a glance

Key valuation, profitability, growth, and risk metrics.

Updated Apr 10, 2026
Market cap
$380.79M
P/E
N/A
ROE
-170.7%
Profit margin
N/A
Debt/Equity
0.01
Dividend yield
N/A

AI Analysis

AI-powered fundamental assessment

Confidence
90%
FWDI exhibits severe financial distress as evidenced by a critical Piotroski F-Score of 1/9, indicating a near-total collapse in fundamental health. While the company shows explosive revenue growth (363.5%) and maintains a strong liquidity position (Current Ratio 6.24), these are overshadowed by a catastrophic ROE of -170.72% and a 90% decline from its 52-week high. The disconnect between high revenue growth and 0% profit margins suggests an unsustainable business model or massive operational inefficiencies. Despite trading below book value (P/B 0.44), the technical trend is aggressively bearish.

Key Strengths

Exceptional YoY revenue growth of 363.50%
Very low leverage with a Debt/Equity ratio of 0.01
Strong short-term liquidity (Current Ratio 6.24)
Trading significantly below book value (P/B 0.44)
High gross margins (59.74%)

Key Risks

Critical fundamental health (Piotroski F-Score 1/9)
Severe capital erosion indicated by ROE of -170.72%
Extreme price volatility and 81% decline in the last 6 months
Inefficient conversion of revenue to profit (0% Profit Margin)
Extremely high Price/Sales ratio (10.88) for a non-profitable consumer cyclical company
AI Fair Value Estimate
Based on comprehensive analysis
$6.2
+35.4% above current price

Performance Snowflake

Multi-dimensional analysis across 5 key categories

Overall
20
Weak
Value
30
Future
45
Past
10
Health
15
Dividend
0
AI Verdict
High Risk / Speculative
Key drivers: Piotroski F-Score, ROE, Price Performance, Revenue Growth
Confidence
85%
Value
30/100

P/B is attractive, but P/S and lack of earnings make traditional valuation impossible.

Positives
  • P/B ratio of 0.44 suggests deep value relative to assets
Watchpoints
  • P/S ratio of 10.88 is prohibitively expensive for 0% margins
  • Lack of Graham Number due to negative earnings
Future
45/100

Growth is present but currently destructive to shareholder equity.

Positives
  • Massive top-line growth (363%)
Watchpoints
  • Inability to scale growth into net income
  • Bearish technical trend
Past
10/100

Long-term and medium-term price performance is disastrous.

Positives
  • Recent Q/Q EPS growth improvement
Watchpoints
  • 5-year return of -83.4%
  • 6-month crash of -81%
Health
15/100

Strong balance sheet liquidity is the only thing preventing immediate insolvency despite operational failure.

Positives
  • Low debt levels
  • High current ratio
Watchpoints
  • Piotroski F-Score 1/9
  • Negative ROE
Dividend
0/100

Company is in a growth/survival phase; no income profile.

Positives
No standout positives identified.
Watchpoints
  • No dividend paid
  • 0/100 dividend strength

Stock Price & Analyst Targets

Real-time price movements and analyst price targets

Current Price
$4.58
Analyst Target
$8.5
Upside/Downside
+85.6%

Multi-Horizon Performance vs Peers

Price momentum across 5Y → 1W horizons for FWDI and closest competitors.

Updated 2026-04-09
FWD
Forward Industries, Inc.
Primary
5Y
-83.4%
3Y
-60.2%
1Y
-11.2%
6M
-81.0%
1M
-10.0%
1W
+6.8%
BNE
Barnes & Noble Education, Inc.
Peer
5Y
-98.3%
3Y
-95.9%
1Y
-17.0%
6M
-1.0%
1M
-3.6%
1W
+4.6%
FOS
Fossil Group, Inc.
Peer
5Y
-61.5%
3Y
+62.6%
1Y
+400.0%
6M
+116.3%
1M
+31.5%
1W
+14.0%
EM
Smart Share Global Limited
Peer
5Y
-85.6%
3Y
+16.0%
1Y
+6.5%
6M
-14.9%
1M
+0.9%
1W
0.0%
FLX
Flexsteel Industries, Inc.
Peer
5Y
+36.1%
3Y
+177.0%
1Y
+37.7%
6M
+15.1%
1M
+4.3%
1W
+4.2%

Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.

Historical Performance Trends

Long-term financial metrics and growth patterns

Revenue & Net Income

Profit & Operating Margins

Return on Equity (ROE)

Quarterly Revenue Growth

Historical data shows last 12 quarters (3 years)

Valuation Metrics

Key valuation ratios and pricing indicators

P/E Ratio
N/A
Forward P/E
N/A
PEG Ratio
N/A
P/B Ratio
0.44
P/S Ratio
10.88
EV/Revenue
10.32
EV/EBITDA
86.07
Market Cap
$380.79M

Profitability

Profit margins and return metrics

Profit Margin N/A
Operating Margin 44.87%
Gross Margin 59.74%
ROE -170.72%
ROA 0.54%

Growth

Revenue and earnings growth rates

Revenue Growth +363.5%
Earnings Growth N/A
Q/Q Revenue Growth +363.52%
Q/Q Earnings Growth N/A

Financial Health

Balance sheet strength and liquidity metrics

Debt/Equity
0.01
Low debt
Current Ratio
6.24
Strong
Quick Ratio
2.92
Excellent
Cash/Share
$0.3

Financial Statement Flow

Interactive flow visualization showing how money moves through the company Q4 2025

Revenue
$0.0B
Gross Margin
78.6%
Op. Margin
44.9%
Net Margin
-2732.2%
Total Assets
$0.9B
Liabilities
$0.0B
Equity
$0.9B
Debt/Equity
0.01x
Operating CF
$-0.0B
Free Cash Flow
$-0.0B
FCF Yield
100%

Quarterly Earnings History

EPS performance vs analyst estimates

2002-07-30
$0.4
+33.3% surprise
2002-05-03
$0.1
-50.0% surprise
2002-01-25
$0.2
+200.0% surprise
2002-01-11
$-3.6
-620.0% surprise

Consumer Cyclical Sector Comparison

Comparing FWDI against 138 companies in the Consumer Cyclical sector (11 bullish, 56 neutral, 71 bearish)
Return on Equity (ROE)
-170.72%
This Stock
vs
-1.63%
Sector Avg
+10352.3% (Excellent)
Debt to Equity
0.01
This Stock
vs
1.56
Sector Avg
-99.6% (Less Debt)
Revenue Growth
363.5%
This Stock
vs
8.04%
Sector Avg
+4420.7% (Fast Growth)
Current Ratio
6.24
This Stock
vs
2.25
Sector Avg
+177.4% (Stronger)

Similar Companies

Peer comparison within the same industry

Recent Insider Trading

Insider buy and sell transactions from the last 6 months

QUINN GEORGIA P
General Counsel
Stock Award
2026-03-06
293,911 shares
NAVI RYAN DAVID
Chief Investment Officer
Stock Award
2026-03-06
382,085 shares
NAVI RYAN DAVID
Chief Investment Officer
Buy
2025-12-19
10,000 shares · $70,800
PRUITT MICHAEL D
Chief Executive Officer
Buy
2025-12-15
1,000 shares · $7,440
Insider transactions can signal confidence or concerns about company prospects

Past News Coverage

Recent headlines mentioning FWDI from our newsroom.

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