FWDI

Forward Industries, Inc.

Price Chart

Latest Quote

$4.12

-0.15 (-3.51%)

Current Price

Previous Close	$4.27
Open	$4.12
Day High	$4.29
Day Low	$4.05
Volume	1,164,620

Fetched: 2026-06-23T20:09:29

Stock Information

Shares Outstanding	73.75M
Total Debt	$52.99M
Cash Equivalents	$16.63M
Revenue	$44.84M
Net Income	$-1.04B
Sector	Consumer Cyclical
Industry	Footwear & Accessories
Market Cap	$303.86M
EPS (TTM)	$-31.38
Exchange	NCM

🌐 Visit Website

📊 Comprehensive Analysis

Company Data

Enterprise Value	$355.23M
Sales	$44.84M
Income	$-1.04B
Book/sh	$7.23
Cash/sh	$0.23
Employees	60

Financial Ratios

Quick Ratio	0.36
Current Ratio	0.40
Debt/Eq	9.61

Returns & Margins

ROA	1.65%
ROE	-372.99%
Gross Margin	67.26%
Operating Margin	18.83%

Ownership

Insider Ownership	30.80%
Institutional Ownership	35.37%
Insider & Institutional transactions data not available

Valuation Ratios

Forward P/E	-10300.00
PEG	2.53
P/S	6.78
P/B	0.57

Analyst Data

Recommendation	none
Target Price	$8.25

Technical Indicators

SMA20	$4.36
SMA50	$4.52
SMA200	$9.84
RSI	44.31
ATR	0.4118

Shares Float	70.69M
Short Float	3.12%
Short Ratio	1.95
Volatility	0.79
Rel Volume	1.34

Performance History

Week	-14.52%
Month	-13.08%
Quarter	-15.57%
6 Months	-40.20%
YTD	-43.64%
Year	-35.12%
3 Years	-58.80%
5 Years	-84.91%
10 Years	-66.77%

Stock Score: ⭐ Premium

Based on debt, profitability, growth, and cash flow metrics

⭐ Premium Feature

Recent Price History

Date	Close	Volume
2026-06-23	$4.12	1,520,578
2026-06-22	$4.27	1,426,900
2026-06-18	$4.41	1,486,400
2026-06-17	$4.63	1,418,800
2026-06-16	$4.83	1,433,800
2026-06-15	$4.82	1,011,200
2026-06-12	$4.28	1,198,800
2026-06-11	$4.24	715,600
2026-06-10	$3.85	981,300
2026-06-09	$4.05	899,400
2026-06-08	$4.15	1,367,200
2026-06-05	$3.69	920,300
2026-06-04	$3.97	777,000
2026-06-03	$4.22	867,900
2026-06-02	$4.49	1,164,400
2026-06-01	$4.66	870,400
2026-05-29	$4.70	1,298,500
2026-05-28	$4.55	922,500
2026-05-27	$4.51	818,300
2026-05-26	$4.70	1,668,200

About Forward Industries, Inc.

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.

📰 Latest News

Arthur Hayes Bets $100K That HYPE Will Outperform Solana by Year-End

CryptoProwl • 2026-06-02T19:34:00Z

SOL Strategies: Darklake & Houdini Add Middleware Monetization, Staking Scale Nears 768k SOL – Quarterly Update Report

Exec Edge • 2026-05-20T16:08:07Z

Forward Industries, Inc. Q2 2026 Earnings Call Summary

Moby • 2026-05-15T12:30:00Z

Forward Industries announces 6.16M share repurchase for $27.4M

TipRanks • 2026-03-20T12:08:17Z

Solana Treasury Forward Industries Uses Loan to Buy Back Shares After 89% Price Dive

decrypt • 2026-03-19T20:48:29Z

Forward Industries Eyes Berkshire Hathaway Status as SOL Losses Near $1 Billion

BeInCrypto • 2026-02-27T10:56:45Z

Forward Industries, Inc. Q1 2026 Earnings Call Summary

Moby • 2026-02-13T13:30:00Z

Forward Industries Inc (FWDI) Q1 2026 Earnings Call Highlights: Revenue Surge and Strategic ...

GuruFocus.com • 2026-02-13T05:02:55Z

SOL-focused Forward Industries has had a tough run, but CIO says it's positioned for success

CoinDesk • 2026-02-07T17:00:00Z

Bitcoin slump shakes companies that jumped on crypto-hoarding bandwagon

Reuters • 2026-02-05T18:21:18Z

Period:

Income Statement (Annual)

Metric	2025-09-30	2024-09-30	2023-09-30	2022-09-30
Revenue
Reconciled Cost Of Revenue	$12,996,281	$14,807,117	$28,323,822	$29,407,009
Cost Of Revenue	$12,996,281	$14,807,117	$28,323,822	$29,407,009
Total Revenue	$18,187,525	$19,990,833	$36,688,307	$38,206,958
Operating Revenue	$18,187,525	$19,990,833	$36,688,307	$38,206,958
Expenses
Interest Expense	$49,143	$62,662	$104,201	$123,411
Total Expenses	$24,553,634	$21,941,951	$36,528,649	$37,618,488
Other Income Expense	$-162,723,992	$-208,316	$100,019	$-12,612
Other Non Operating Income Expenses	$-4,244	$-8,316	$30,019	$-12,612
Net Non Operating Interest Income Expense	$21,526	$16,201	$-81,013	$-123,411
Interest Expense Non Operating	$49,143	$62,662	$104,201	$123,411
Operating Expense	$11,557,353	$7,134,834	$8,204,827	$8,211,479
Other Operating Expenses	$923,513	-	-	-
Selling And Marketing Expense	$1,029,350	$769,370	$1,663,791	$1,477,936
General And Administrative Expense	$9,604,490	$6,365,464	$6,541,036	$6,733,543
Income & Earnings
Net Income From Continuing Operation Net Minority Interest	$-169,088,979	$-2,166,179	$158,658	$449,893
Net Interest Income	$21,526	$16,201	$-81,013	$-123,411
Interest Income	$70,669	$78,863	$23,188	$0
Normalized Income	$-6,369,231	$-1,968,779	$96,498	$449,893
Net Income From Continuing And Discontinued Operation	$-166,974,340	$-1,950,587	$-3,736,657	$-1,378,251
Total Operating Income As Reported	$-8,392,420	$-2,151,118	$159,658	$588,470
Net Income Common Stockholders	$-166,974,340	$-1,950,587	$-3,736,657	$-1,378,251
Net Income	$-166,974,340	$-1,950,587	$-3,736,657	$-1,378,251
Net Income Including Noncontrolling Interests	$-166,974,340	$-1,950,587	$-3,736,657	$-1,378,251
Net Income Discontinuous Operations	$2,114,639	$215,592	$-3,895,315	$-1,828,144
Net Income Continuous Operations	$-169,088,979	$-2,166,179	$158,658	$449,893
Pretax Income	$-169,068,575	$-2,143,232	$178,664	$452,447
Special Income Charges	$-162,061,416	$-200,000	$70,000	$0
Interest Income Non Operating	$70,669	$78,863	$23,188	$0
Operating Income	$-6,366,109	$-1,951,118	$159,658	$588,470
Gross Profit	$5,191,244	$5,183,716	$8,364,485	$8,799,949
Per Share
Diluted EPS	$-24.59	$-1.77	$-3.70	$-1.40
Basic EPS	$-24.59	$-1.77	$-3.70	$-1.40
Other
Tax Effect Of Unusual Items	$0	$-2,600	$7,840	$0
Tax Rate For Calcs	$0	$0	$0	$0
Normalized EBITDA (Bullshit earnings)	$-5,967,459	$-1,548,643	$528,805	$885,097
Total Unusual Items	$-162,719,748	$-200,000	$70,000	$0
Total Unusual Items Excluding Goodwill	$-162,719,748	$-200,000	$70,000	$0
Reconciled Depreciation	$332,225	$331,927	$315,940	$309,239
EBITDA (Bullshit earnings)	$-168,687,207	$-1,748,643	$598,805	$885,097
EBIT	$-169,019,432	$-2,080,570	$282,865	$575,858
Diluted Average Shares	$6,791,173	$1,101,069	$1,006,118	$1,020,079
Basic Average Shares	$6,791,173	$1,101,069	$1,006,118	$1,006,118
Diluted NI Availto Com Stockholders	$-166,974,340	$-1,950,587	$-3,736,657	$-1,378,251
Tax Provision	$20,404	$22,947	$20,006	$2,554
Impairment Of Capital Assets	$2,026,311	$200,000	$0	-
Restructuring And Mergern Acquisition	$160,035,105	$0	$-70,000	$0
Gain On Sale Of Security	$-658,332	-	-	-
Selling General And Administration	$10,633,840	$7,134,834	$8,204,827	$8,211,479
Other Gand A	$9,604,490	$6,365,464	$6,541,036	$6,733,543
Other Special Charges	-	-	-	-

Fetched: 2026-06-21

Balance Sheet (Annual)

Metric	2025-09-30	2024-09-30	2023-09-30	2022-09-30
Assets
Net Tangible Assets	$1,470,124,867	$728,352	$-35,421	$3,401,745
Total Assets	$1,474,942,489	$14,768,356	$17,386,142	$20,939,015
Total Non Current Assets	$1,433,720,202	$5,118,531	$6,015,734	$6,602,145
Other Non Current Assets	$1,431,292,426	$68,737	$68,737	$68,737
Goodwill And Other Intangible Assets	$0	$2,238,682	$2,651,682	$2,864,682
Current Assets	$41,221,956	$9,649,414	$11,370,219	$14,336,823
Other Current Assets	$355,548	$382,832	$378,512	$417,605
Assets Held For Sale Current	$0	$2,908,039	$508,077	$3,150,177
Receivables	$2,699,435	$3,581,418	$6,968,778	$7,542,666
Other Receivables	$1,064,264	$1,272,993	-	-
Accounts Receivable	$1,635,171	$2,308,425	$6,968,778	$7,542,666
Allowance For Doubtful Accounts Receivable	$-92,358	$-27,282	$-955,965	$-872,000
Gross Accounts Receivable	$1,727,529	$2,335,707	$7,924,743	$8,414,666
Cash Cash Equivalents And Short Term Investments	$38,166,973	$2,777,125	$3,180,468	$2,575,522
Cash And Cash Equivalents	$38,166,973	$2,777,125	$3,180,468	$2,575,522
Cash Financial	$38,166,973	$2,777,125	$3,180,468	$2,575,522
Other Intangible Assets	-	$680,000	$893,000	$1,106,000
Inventory	-	$489,996	$334,384	$650,853
Prepaid Assets	-	-	-	$417,605
Debt
Total Debt	$2,545,028	$3,433,782	$4,349,824	$5,027,764
Long Term Debt And Capital Lease Obligation	$2,094,079	$2,429,726	$3,933,782	$4,649,824
Current Debt And Capital Lease Obligation	$450,949	$1,004,056	$416,042	$377,940
Current Debt	-	$600,000	-	-
Other Current Borrowings	-	$600,000	-	-
Long Term Debt	-	-	$1,100,000	$1,400,000
Net Debt	-	-	-	-
Liabilities
Total Liabilities Net Minority Interest	$4,817,622	$11,801,322	$14,769,881	$14,672,588
Total Non Current Liabilities Net Minority Interest	$2,094,079	$2,429,726	$3,933,782	$4,694,824
Current Liabilities	$2,723,543	$9,371,596	$10,836,099	$9,977,764
Other Current Liabilities	$87,512	$7,478,520	$200,743	$228,906
Current Deferred Liabilities	$292,525	$399,439	$297,407	$438,878
Current Notes Payable	$0	$600,000	-	-
Payables And Accrued Expenses	$1,892,557	$489,581	$9,921,907	$8,932,040
Payables	$1,356,557	$103,581	$8,764,907	$7,982,040
Accounts Payable	$433,044	$103,581	$518,892	$268,160
Other Non Current Liabilities	-	-	-	$45,000
Other Payable	-	-	-	-
Equity
Common Stock Equity	$1,470,124,867	$767,034	$2,616,261	$6,266,427
Total Equity Gross Minority Interest	$1,470,124,867	$2,967,034	$2,616,261	$6,266,427
Stockholders Equity	$1,470,124,867	$2,967,034	$2,616,261	$6,266,427
Retained Earnings	$-186,611,480	$-19,637,140	$-17,686,553	$-13,949,896
Preferred Stock Equity	-	$2,200,000	-	-
Other
Ordinary Shares Number	$86,145,514	$1,101,069	$1,006,118	$1,006,118
Share Issued	$86,145,514	$1,101,069	$1,006,118	$1,006,118
Tangible Book Value	$1,470,124,867	$-1,471,648	$-35,421	$3,401,745
Invested Capital	$1,470,124,867	$1,367,034	$3,716,261	$7,666,427
Working Capital	$38,498,413	$277,818	$534,120	$4,359,059
Capital Lease Obligations	$2,545,028	$2,833,782	$3,249,824	$3,627,764
Total Capitalization	$1,470,124,867	$2,967,034	$3,716,261	$7,666,427
Additional Paid In Capital	$1,655,874,892	$20,393,163	$20,291,803	$20,115,711
Capital Stock	$861,455	$2,211,011	$11,011	$100,612
Common Stock	$861,455	$11,011	$11,011	$100,612
Preferred Stock	$0	$2,200,000	$0	-
Long Term Capital Lease Obligation	$2,094,079	$2,429,726	$2,833,782	$3,249,824
Current Deferred Revenue	$292,525	$399,439	$297,407	$438,878
Current Capital Lease Obligation	$450,949	$404,056	$416,042	$377,940
Current Accrued Expenses	$536,000	$386,000	$1,157,000	$950,000
Dueto Related Parties Current	$923,513	$0	$8,246,015	$7,713,880
Goodwill	$0	$1,558,682	$1,758,682	$1,758,682
Net PPE	$2,427,776	$2,811,112	$3,295,315	$3,668,726
Accumulated Depreciation	$-493,000	$-394,000	$-466,000	$-373,000
Gross PPE	$2,920,776	$3,205,112	$3,761,315	$4,041,726
Other Properties	$2,398,776	$2,676,112	$3,192,315	$3,501,726
Machinery Furniture Equipment	$522,000	$529,000	$569,000	$540,000
Inventories Adjustments Allowances	-	-	-	$-535,000
Finished Goods	-	-	-	$4,336,030
Line Of Credit	-	-	-	-

Fetched: 2026-06-21

Cash Flow Statement (Annual)

Metric	2025-09-30	2024-09-30	2023-09-30	2022-09-30
Free Cash Flow
Free Cash Flow	$-4,527,861	$454,616	$904,946	$1,365,157
Operating Activities
Operating Cash Flow	$-4,502,087	$519,770	$1,041,028	$1,534,788
Cash From Discontinued Operating Activities	$396,153	$1,671,565	-	-
Cash Flow From Continuing Operating Activities	$-4,898,240	$-1,151,795	$1,041,028	$1,534,788
Operating Gains Losses	$154,875,606	-	-	-
Investing Activities
Capital Expenditure	$-25,774	$-65,154	$-136,082	$-169,631
Investing Cash Flow	$-901,466,617	$-65,154	$-136,082	$-169,631
Cash Flow From Continuing Investing Activities	$-901,466,617	$-65,154	$-136,082	$-169,631
Net Other Investing Changes	$-900,790,843	-	-	-
Financing Activities
Issuance Of Capital Stock	$2,237,565	$0	-	-
Financing Cash Flow	$941,358,552	$-500,000	$-300,000	$-200,000
Cash Flow From Continuing Financing Activities	$941,358,552	$-500,000	$-300,000	$-200,000
Net Other Financing Charges	$36,224,618	-	-	-
Net Common Stock Issuance	$2,237,565	$0	-	-
Common Stock Issuance	$2,237,565	$0	-	-
Other
Repayment Of Debt	$-600,000	$-500,000	$-300,000	$-200,000
Issuance Of Debt	$2,360,869	$0	-	$0
Interest Paid Supplemental Data	$48,921	$62,662	$104,201	$123,411
Income Tax Paid Supplemental Data	$32,071	$7,069	$10,271	$10,856
End Cash Position	$38,166,973	$2,777,125	$3,180,468	$2,575,522
Beginning Cash Position	$2,777,125	$2,822,509	$2,575,522	$1,410,365
Changes In Cash	$35,389,848	$-45,384	$604,946	$1,165,157
Proceeds From Stock Option Exercised	$901,135,500	$0	-	$0
Net Issuance Payments Of Debt	$1,760,869	$-500,000	$-300,000	$-200,000
Net Short Term Debt Issuance	$1,760,869	$-500,000	-	$0
Short Term Debt Payments	$-600,000	$-500,000	-	$0
Short Term Debt Issuance	$2,360,869	$0	-	$0
Net Business Purchase And Sale	$-650,000	$0	-	-
Purchase Of Business	$-650,000	$0	-	-
Net PPE Purchase And Sale	$-25,774	$-65,154	$-136,082	$-169,631
Purchase Of PPE	$-25,774	$-65,154	$-136,082	$-169,631
Change In Working Capital	$1,864,686	$146,000	$4,366,468	$2,137,653
Change In Other Working Capital	$-106,914	$102,032	$-141,471	$251,183
Change In Other Current Liabilities	$582	$12,161	$28,471	$44,076
Change In Payables And Accrued Expense	$1,110,646	$-1,131,151	$986,704	$2,480,749
Change In Accrued Expense	$-42,330	$-739,283	$203,837	$624,409
Change In Payable	$1,152,976	$-391,868	$782,867	$1,856,340
Change In Account Payable	$229,463	$-391,868	$250,732	-
Change In Prepaid Assets	$27,284	$-60,851	$39,093	$143,467
Change In Receivables	$833,088	$1,223,809	$495,102	$953,137
Changes In Account Receivables	$624,359	$1,521,057	$495,102	$953,137
Stock Based Compensation	$2,871,756	$101,360	$86,491	$201,235
Asset Impairment Charge	$2,131,827	$219,505	$78,786	$264,912
Depreciation Amortization Depletion	$332,225	$331,927	$315,940	$309,239
Depreciation And Amortization	$332,225	$331,927	$315,940	$309,239
Gain Loss On Investment Securities	$-3,753,527	-	-	-
Gain Loss On Sale Of PPE	$160,035,105	$0	-	-
Gain Loss On Sale Of Business	$-1,405,972	$0	-	-
Net Income From Continuing Operations	$-166,974,340	$-1,950,587	$-3,736,657	$-1,378,251
Net Long Term Debt Issuance	-	$-500,000	$-300,000	$-200,000
Long Term Debt Payments	-	$-500,000	$-300,000	$-200,000
Change In Other Current Assets	-	$504,126	$2,642,100	$-1,843,182
Change In Inventory	-	$-155,612	$316,469	$108,223
Other Non Cash Items	-	-	$-70,000	-
Long Term Debt Issuance	-	-	-	-
Sale Of Business	-	-	-	-

Fetched: 2026-06-21