FWDI

Company Overview — What Does Forward Industries, Inc. Do?

Forward Industries, Inc., together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for handheld electronic devices. The company operates in three segments: OEM Distribution, Retail Distribution, and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS devices, tablets, and firearms. The Retail Distribution segment sources and sells smart-enabled furniture and a range of other products through agreements with various retailers, including in stores and online retailer websites. The Design segment provides hardware and software product design and engineering services. The company sells its products to original equipment manufacturers in the Asia-Pacific, the Americas, Europe, the Middle East, and Africa. Forward Industries, Inc. was incorporated in 1961 and is headquartered in Hauppauge, New York. Forward Industries, Inc. (FWDI) is classified as a small-cap stock in the Materials sector, specifically within the Rubber And Plastic Products industry. The company is led by CEO Terence B. Wise and employs approximately 100 people, headquartered in WEST PALM BEACH, New York. With a market capitalization of $342M, FWDI is one of the notable companies in the Materials sector.

Forward Industries, Inc. (FWDI) Stock Rating — Avoid (April 2026)

As of April 2026, Forward Industries, Inc. receives a Avoid rating with a composite score of 22.3/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.FWDI ranks #4,216 out of 4,446 stocks in our coverage universe. Within the Materials sector, Forward Industries, Inc. ranks #287 of 284 stocks, placing it in the lower half of its Materials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

FWDI Stock Price and 52-Week Range

Forward Industries, Inc. (FWDI) currently trades at $4.62. The stock gained $0.04 (0.9%) in the most recent trading session. The 52-week high for FWDI is $46.00, which means the stock is currently trading -90.0% from its annual peak. The 52-week low is $3.51, putting the stock 31.5% above its annual trough. Recent trading volume was 705K shares, suggesting relatively thin trading activity.

Is FWDI Overvalued or Undervalued? — Valuation Analysis

Forward Industries, Inc. (FWDI) carries a value factor score of 9/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 0.37x, versus the sector average of 2.83x. The price-to-sales ratio is 10.38x, compared to 0.74x for the average Materials stock.

At current multiples, Forward Industries, Inc. trades at a premium to most Materials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Forward Industries, Inc. Profitability — ROE, Margins, and Quality Score

Forward Industries, Inc. (FWDI) earns a quality factor score of 17/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -66.8%, compared to the Materials sector average of 3.3%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -65.9% versus the sector average of 0.6%.

On a margin basis, Forward Industries, Inc. reports gross margins of 17.7%, compared to 29.8% for the sector. The operating margin is -723.6% (sector: 6.0%). Net profit margin stands at -705.9%, versus 3.0% for the average Materials stock. Revenue growth is running at 171.8% on a trailing basis, compared to 1.8% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

FWDI Debt, Balance Sheet, and Financial Health

Forward Industries, Inc. has a debt-to-equity ratio of 1.0%, compared to the Materials sector average of 41.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 6.24x, indicating strong short-term liquidity.

FWDI has a beta of 0.52, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Forward Industries, Inc. is 30/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Forward Industries, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Forward Industries, Inc. reported revenue of $32M and earnings per share (EPS) of $-5.91. Net income for the quarter was $-589M. Gross margin was 17.7%. Operating income came in at $-589M.

In Q1 2026, Forward Industries, Inc. reported revenue of $21M and earnings per share (EPS) of $-5.91. Net income for the quarter was $-586M. Gross margin was 78.6%. Operating income came in at $-584M.

In FY 2025, Forward Industries, Inc. reported revenue of $18M and earnings per share (EPS) of $-24.59. Net income for the quarter was $-167M. Gross margin was 28.5%. Revenue grew -39.8% year-over-year compared to FY 2024. Operating income came in at $-8M.

In Q3 2025, Forward Industries, Inc. reported revenue of $2M and earnings per share (EPS) of $-0.77. Net income for the quarter was $-850,022. Gross margin was -24.9%. Revenue grew -68.4% year-over-year compared to Q3 2024. Operating income came in at $-3M.

Over the past 8 quarters, Forward Industries, Inc. has demonstrated a growth trajectory, with revenue expanding from $8M to $32M. Investors analyzing FWDI stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

FWDI Dividend Yield and Income Analysis

Forward Industries, Inc. (FWDI) does not currently pay a dividend. This is common among smaller companies in the Rubber And Plastic Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Materials dividend stocks may want to explore other Materials stocks or use the stock screener to filter by dividend yield.

FWDI Momentum and Technical Analysis Profile

Forward Industries, Inc. (FWDI) has a momentum factor score of 16/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 21/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 67/100 reflects moderate short selling activity.

FWDI vs Competitors — Materials Sector Ranking and Peer Comparison

Within the Materials sector, Forward Industries, Inc. (FWDI) ranks #287 out of 284 stocks based on the Blank Capital composite score. This places FWDI in the lower half of all Materials stocks in our coverage universe. Key competitors and sector peers include CF Industries Holdings, Inc. (CF) with a score of 56.6/100, Nutrien Ltd. (NTR) with a score of 56.6/100, CVR PARTNERS, LP (UAN) with a score of 55.6/100, LSB INDUSTRIES, INC. (LXU) with a score of 53.6/100, and ACME UNITED CORP (ACU) with a score of 51.2/100.

Comparing FWDI against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full FWDI vs S&P 500 (SPY) comparison to assess how Forward Industries, Inc. stacks up against the broader market across all factor dimensions.

FWDI Next Earnings Date

No upcoming earnings date has been announced for Forward Industries, Inc. (FWDI) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy FWDI? — Investment Thesis Summary

The quantitative profile for Forward Industries, Inc. suggests caution. The quality score of 17/100 flags below-average profitability. The value score of 9/100 indicates premium valuation. Momentum is weak at 16/100, a headwind for near-term performance. High volatility (stability score 30/100) increases portfolio risk.

In summary, Forward Industries, Inc. (FWDI) earns a Avoid rating with a composite score of 22.3/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on FWDI stock.

Related Resources for FWDI Investors

Explore more research and tools: FWDI vs S&P 500 comparison, top Materials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare FWDI head-to-head with peers: FWDI vs CF, FWDI vs NTR, FWDI vs UAN.