MARKETS / NASDAQ / FWDI
NASDAQ · FINANCE SERVICES · SMALL CAP

Forward Industries, Inc. FWDI

16 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
$18.2M
▼ 9.0% vs FY2024
EPS · FY25
$-24.59
Dividend / sh · FY25
Payout · FY25
ROE · FY25
-22.7%
Net margin · FY25
-918.1%
Dividend coverage
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Result
USD 18.2M
Revenue, FY2025 · full 16-year series below
Revenue Net income
0.010.020.030.040.0-0.2201020132016201920222025
0.010.020.030.040.0-0.22016201920222025

The company lost 918 cents on every revenue dollar this year.

Per share
USD -24.59
Diluted EPS, FY2025
EPS
0.40.81.2-24.59201020132016201920222025
0.40.81.2-24.592016201920222025

The company pays no cash dividend.

Profitability
-22.7%
Return on equity, FY2025
ROE
481216-22.7%201020132016201920222025
481216-22.7%2016201920222025
Operating margin-46.1%
Net margin-918.1%
Return on assets-22.4%

Each USD of equity lost 23 cents this year.

Returned to shareholders
returned in FY2025 · dividends + net buybacks
Dividends paid
Net buybacks
Share of profit
Consecutive raises

Growth
−12.0% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
−21.9%
−12.0%
−4.9%
−0.3%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.09B
Shares outstanding, FY2025
0.010.09201020132016201920222025
0.010.092016201920222025
Change, 5 years+12.8%
Change, 10 years+24.1%

The share count grew 13% in five years — the same company, cut into more, smaller slices.

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Balance sheet
USD 1.5B
total assets, end of FY2025
Total assetsUSD 1.5B
EquityUSD 1.5B
CashUSD 38.2M
Current ratio15.14×

Equity funds 100% of total assets.

History
16 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Revenue $B
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Operating income $B
−0.0
−0.0
0.0
0.0
−0.0
−0.0
−0.0
0.0
0.0
0.0
−0.0
−0.0
0.0
−0.0
−0.0
−0.0
EBITDA $B
−0.0
−0.0
0.0
0.0
−0.0
−0.0
−0.0
0.0
0.0
0.0
−0.0
−0.0
0.0
−0.0
−0.0
−0.0
Income tax $B
0.0
0.0
0.0
0.0
0.0
0.0
−0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
−0.0
0.0
Net income $B
−0.2
−0.0
−0.0
−0.0
0.0
−0.0
−0.0
0.0
0.0
0.0
−0.0
−0.0
−0.0
−0.0
−0.0
−0.0
EPS, diluted $
−24.59
−1.77
−3.39
−0.14
0.05
−0.19
−0.38
0.15
0.07
0.07
−0.23
−0.12
−0.09
−1.19
−0.36
−0.21
Dividend / sh $
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Payout %
·
·
·
·
·
·
·
·
·
0
−1
−10
−7
·
·
·
ROE %
−22.7
−69.9
−84.1
−20.1
7.5
−24.8
−38.3
13.8
6.8
7.8
−16.1
−8.1
−2.2
−69.1
−14.5
−7.9
Shares out B
0.09
0.00
0.00
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
64 of 64
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed