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FWDI · Nasdaq · United States · Finance Services
In shortForward Industries, Inc. is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it. Bank or insurer: tests that do not apply to them are left out.
| Operating marginShare of each sale left after running the business, before interest and tax. | -46.1% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -918.1% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -22.7% | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -24.9% | n/a |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 3 of 5 | n/a |
Weight in the score: 20%
| Profitable years (last 5) | 1 of 5 | 20/100 |
|---|---|---|
| Years of revenue decline (last 5) | 4 of 5 | 0/100 |
| Revenue growth volatility | 19.6% | 38/100 |
| Operating margin volatility | 20.1% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -21.9% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 39 | 38 | 37 | 30 | 18 |
| Cost of revenue | 31 | 29 | 28 | 15 | 13 |
| Gross profit | 8.1 | 8.8 | 8.4 | 5.2 | 5.2 |
| Operating income | (0.8) | 0.6 | 0.2 | (2.2) | (8.4) |
| Interest expense | 0.2 | 0.1 | 0.1 | 0.1 | 0 |
| Pre-tax income | 0.5 | 0.5 | 0.2 | (2.1) | (169) |
| Income tax | 0 | 0 | 0 | 0 | 0 |
| Net income | 0.5 | (1.4) | (3.7) | (2) | (167) |
| Diluted EPS | $0.05 | −$0.14 | −$3.39 | −$1.77 | −$24.59 |
| Diluted shares (millions) | 10 | 10 | 1.1 | 1.1 | 6.8 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of Forward Industries, Inc. are included in the Investor plan. Try free for 7 days →
Not computed: the model does not apply to banks and insurers.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 12, 2026