FWDI
Forward Industries, Inc. Financials Finance Services Russell 3000
$5.99Close
$516.0MMarket cap
$3.54 – $14.3952-week range
Dec 10, 2026Next report
Highlights
Cautions
- Not in an uptrend 3 of 8 trend conditions
- Far from its high 58% below its 52-week high
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
58%
1wk
down 9.4%
price change
1mo
down 26.6%
price change
12-month return
down 58%
market up 12% ·
its own down 70%
F-score
5 / 9
Mixed
Altman Z″
320.13
Low risk
P/E
—
price / earnings
PEG
—
P/E / EPS growth
P/B
0.4×
price / book
Earnings yield
—
EBIT / enterprise value
Cheaper than
46%
of the market · around average
Revenue growth
down 9%
year on year
EPS growth
—
latest quarter
Sales growth
up 332%
latest quarter · +17 pts
ROE
down 23%
return on equity
Free cash margin
—
D/E
—
long-term debt / equity
Net debt / EBITDA
—
Interest cover
—EBIT / interest
Piotroski tests
- not yet profitable on its assets
- operating cash flow is negative
- profitability slipped from last year
- issued more shares
- profits backed by cash
- reduced long-term debt
- short-term liquidity improved
- gross margin widened
- assets working harder
Repair signals
- Gross margin 25.9% → 28.5%
Trade setup
ATR%
9.0%
$0.54 a day · 2×ATR $4.91
RS
66 / 99
vs the universe
Trend
3 / 8
trend template
Relative volume
0.7×
vs 50-day average
Up/down volume
1.21
50 sessions
Implied move
—
no option chain · report Dec 10, 2026
Trend template · 3 of 8
- Price above the 150 and 200-day averages: passes
- 150-day average above the 200-day: fails
- 200-day average rising for a month: fails
- 50-day average above the 150 and 200-day: passes
- Price above the 50-day average: fails
- At least 30% above the 52-week low: passes
- Within 25% of the 52-week high: fails
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Shareholders diluted The share count rose 7723.8% over the year, from 1m to 86m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
- Revenue shrinking Revenue fell 9.0% over the year, from $20.0M to $18.2M.
Last reported
Aug 12, 2026
Last shock
Sep 15, 2026-13% in one session1.8× volumeon an SEC filing-1% since
Financials
- Gross 29%
- Net -918%
- Cash
- Long-term debt
| FY2020Sep 30, 2020 | FY2021Sep 30, 2021 | FY2022Sep 30, 2022 | FY2023Sep 30, 2023 | FY2024Sep 30, 2024 | FY2025Sep 30, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $34.5M | $39.0M | $38.2M | $22.7M | $20.0M | $18.2M |
| Gross margin | 19% | 21% | 23% | 31% | 26% | 29% |
| Operating income | -$2.0M | -$764,999 | $588,470 | -$61,129 | -$2.2M | -$8.4M |
| Net income | -$1.8M | $523,805 | -$1.4M | -$3.7M | -$2.0M | -$167.0M |
| Net margin | -5% | 1% | -4% | -16% | -10% | -918% |
| Earnings per share | -$0.19 | $0.05 | -$0.14 | -$3.39 | -$1.77 | -$24.59 |
| Cash | $2.9M | $1.4M | $2.1M | $2.8M | $2.8M | $38.2M |
| Long-term debt | $529,973 | $1.6M | $1.4M | $1.1M | $0 | — |
| Shareholders' equity | $6.6M | $7.4M | $6.3M | $2.6M | $3.0M | $1.5B |
| Shares outstanding | 9.88m | 10.06m | 10.06m | 1.10m | 1.10m | 86.15m |
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Aug 12, 2026 | Quarterly ↗ | Jun 30, 2026 | 43d |
| May 14, 2026 | Quarterly ↗ | Mar 31, 2026 | 44d |
| Feb 12, 2026 | Quarterly ↗ | Dec 31, 2025 | 43d |
| Dec 11, 2025 | Annual ↗ | Sep 30, 2025 | 72d |
| Aug 14, 2025 | Quarterly ↗ | Jun 30, 2025 | 45d |
| May 14, 2025 | Quarterly ↗ | Mar 31, 2025 | 44d |
| Feb 13, 2025 | Quarterly ↗ | Dec 31, 2024 | 44d |
| Dec 27, 2024 | Annual ↗ | Sep 30, 2024 | 88d |
| Aug 14, 2024 | Quarterly ↗ | Jun 30, 2024 | 45d |
| May 10, 2024 | Quarterly ↗ | Mar 31, 2024 | 40d |
| Feb 14, 2024 | Quarterly ↗ | Dec 31, 2023 | 45d |
| Dec 21, 2023 | Annual ↗ | Sep 30, 2023 | 82d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 1, 2026 | Regulation FD ↗ |
| Sep 24, 2026 | Material agreement · Regulation FD · Other events ↗ |
| Sep 15, 2026 | Regulation FD ↗ |
| Aug 12, 2026 | Results · Regulation FD ↗ |
| Jul 20, 2026 | Director or officer change ↗ |
| Jun 16, 2026 | Other events ↗ |
| Jun 16, 2026 | Other events ↗ |
| Jun 10, 2026 | Other events ↗ |
| Apr 17, 2026 | Unregistered share sale · Director or officer change ↗ |
| Apr 8, 2026 | Director or officer change ↗ |
| Mar 19, 2026 | Material agreement · New obligation · Regulation FD ↗ |
| Mar 13, 2026 | Director or officer change ↗ |