Forward Industries, Inc. (FWDI)

NASDAQ: FWDI · Real-Time Price · USD

8.55

+0.38 (4.65%)

Sep 22, 2026, 11:50 AM EDT - Market open

Forward Industries Financials Overview

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Revenue	53.12	18.19	19.99	36.69	38.21	39.02
Revenue Growth	254.52%	-9.02%	-45.51%	-3.98%	-2.09%	13.18%
Gross Profit	37.48	5.19	5.18	8.36	8.8	8.13
Operating Income	10.02	-6.37	-1.95	0.16	0.59	-0.76
Net Income	-1,102	-167	-1.95	-3.74	-1.38	0.52
Earnings Per Share	-14.47	-24.59	-1.77	-3.40	-1.39	0.50
EPS Growth	-	-	-	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Digital Assets	-	4.58	-	-	-	-
Design	14.48	13.61	19.99	22.69	20.17	16.55
Total	53.12	18.19	19.99	36.69	38.21	39.02

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Cash & Investments	13.28	38.17	2.78	3.18	2.58	1.41
Total Debt	118.51	2.55	3.43	4.35	5.03	5.5
Net Cash (Debt)	-105.22	35.62	-0.66	-1.17	-2.45	-4.09
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-1.38	5.25	-0.60	-1.06	-2.40	-3.92

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Operating Cash Flow	-18.38	-4.5	0.52	1.04	1.53	-0.53
Capital Expenditures	-0	-0.03	-0.07	-0.14	-0.17	-0.07
Free Cash Flow	-18.38	-4.53	0.45	0.9	1.37	-0.6
Free Cash Flow Growth	-	-	-49.76%	-33.71%	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Gross Margin	70.56%	28.54%	25.93%	22.80%	23.03%	20.85%
Operating Margin	18.86%	-35.00%	-9.76%	0.43%	1.54%	-1.96%
Pretax Margin	-2073.66%	-929.59%	-10.72%	0.49%	1.18%	1.34%
Profit Margin	-2073.88%	-918.23%	-9.76%	-10.18%	-3.61%	1.34%
FCF Margin	-34.61%	-24.89%	2.27%	2.47%	3.57%	-1.53%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 22, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
PE Ratio	-	-	-	-	-	45.77
Forward PE	76.37	39.25	39.25	39.25	39.25	39.25
P/FCF Ratio	-	-	9.03	8.45	9.80	-
PS Ratio	11.60	119.60	0.21	0.21	0.35	0.61