Forward Industries, Inc.

FWDI

Forward Industries, Inc.

FWDI

Insider Sentiment (TTM):

Last Purchase:2026-05-19Last Sale:-Shares Purchased (TTM):11,500Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:25,921,781Shares Outstanding:94,924,520Institutional Ownership Pct.:27.31%

Earnings Market Reaction:

Filing Date:2026-08-12Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash	11	17	25	38	1	2	3	3	3	2	3	3
Accounts Receivable Net Current	2	2	3	2	1	2	5	2	6	6	7	7
Inventory Net	-	-	-	-	-	-	1	0	0	0	0	0
Contract With Customer Asset Net Current	0	1	1	1	1	1	-	1	-	-	-	-
Accounts And Other Receivables Net Current	-	-	31	-	-	-	-	-	-	-	-	-
Prepaid Expense And Other Assets Current	1	2	2	0	0	0	0	0	0	0	0	0
Assets Of Disposal Group Including Discontinued Op…	-	-	-	0	0	3	-	3	0	0	0	1
Assets Current	22	22	63	41	4	8	9	10	10	10	10	11
Crypto Asset Cost Unrestricted	336	506	824	-	-	-	-	-	-	-	-	-
Crypto Asset Cost Restricted	1	2	2	-	-	-	-	-	-	-	-	-
Property Plant And Equipment Net	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets Net Excluding Goodwill	-	-	-	0	1	1	1	1	1	1	1	1
Goodwill	-	-	-	0	1	1	1	2	2	2	2	2
Operating Lease Right Of Use Asset	1	3	2	2	2	3	3	3	3	3	3	3
Other Assets Noncurrent	1	1	1	1	0	0	0	0	0	0	0	0
Assets	603	609	893	1,475	8	12	13	15	15	15	16	17
Liabilities And Stockhold…
Liabilities Current
Notes Payable Current	-	-	-	0	1	1	1	1	1	1	1	0
Loans Payable Current	13	10	3	-	-	-	-	-	-	-	-	-
Accounts Payable Current	0	0	0	0	0	0	0	0	0	0	0	1
Deferred Revenue Current	1	1	1	0	0	0	0	0	0	0	0	0
Operating Lease Liability Current	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable And Other Accrued Liabilities Cur…	1	3	3	1	0	0	0	1	1	1	0	1
Liabilities Of Disposal Group Including Discontinu…	-	-	-	0	0	4	-	7	-	-	-	-
Long Term Notes Payable	-	-	-	-	-	-	-	0	0	0	0	1
Liabilities Current	128	55	10	3	2	6	9	9	11	11	11	11
Liabilities Noncurrent
Operating Lease Liability Noncurrent	1	2	2	2	2	2	2	2	3	3	3	3
Liabilities Noncurrent	-	-	-	-	-	-	-	-	3	3	3	-
Liabilities	128	57	12	5	5	9	11	12	14	13	14	15
Stockholders Equity
Preferred Stock Value	-	-	-	-	-	5	2	2	-	-	-	0
Common Stock Value Outstanding	1	1	1	1	0	0	0	0	0	0	0	0
Treasury Stock Common Value	-70	-58	-11	-	-	-	-	-	-	-	-	-
Additional Paid In Capital Common Stock	1,668	1,664	1,663	1,656	21	20	20	20	20	20	20	20
Retained Earnings Accumulated Deficit	-1,124	-1,055	-772	-187	-23	-22	-20	-20	-19	-19	-18	-18
Stockholders Equity	474	551	881	1,470	3	4	2	3	1	2	2	3
Liabilities And Stockholders Equity	603	609	893	1,475	8	12	13	15	15	15	16	17
Accounts And Financing Receivable Allowance For Cr…	-	0	0	0	0	0	0	0	1	1	-	1
Common Stock Par Or Stated Value Per Share	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Common Stock Shares Authorized	300	300	300	300	40	40	40	300	40	40	40	40
Common Stock Shares Issued	87	87	86	86	1	1	1	1	1	1	1	1
Shares Outstanding	74	76	85	86	1	1	1	1	1	1	1	1
Treasury Stock Common Shares	13	11	2	-	-	-	-	-	-	-	-	-

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10‑Q10‑K

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-0.41%	-11.55%	-8.87%	-27.22%	-5.13%	-18.74%	-	-	-	-	-	-
2025	-27.09%	15.84%	25.55%	-18.46%	-2.85%	50.43%	11.60%	53.68%	-1.84%	-3.56%	-14.38%	-44.06%
2024	-	-	-	-	-	-	-	-	-	8.14%	9.69%	-30.04%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	0.17	0.40	6.24	15.14	1.51	1.19	0.98	1.03	0.86	0.88	0.93	1.05
Quick Ratio	0.16	0.36	6.03	15.00	1.35	1.14	0.85	0.94	0.80	0.81	0.86	0.98
Working Capital	-105.65M	-32.96M	52.86M	38.50M	1.21M	1.22M	-161.92K	277.82K	-1.58M	-1.29M	-812.97K	534.12K
Leverage & Debt
Debt to Equity	0.27	0.10	0.01	0.00	1.48	2.45	4.92	3.98	9.95	7.58	6.07	5.65
Interest Coverage TTM	-1,596.84	-10,333.92	-15,900.96	-170.78	-124.04	-76.65	-47.98	-34.33	-16.52	-7.28	-0.97	1.53
Debt Ratio	0.21	0.09	0.01	0.00	0.60	0.71	0.83	0.80	0.91	0.88	0.86	0.85
Efficiency & Turnover
Asset Turnover TTM	0.17	0.14	0.08	0.03	2.30	2.35	2.30	2.16	2.75	2.72	2.77	2.90
Days Sales Outstanding TTM	10.69	17.06	40.97	35.67	51.82	46.65	60.70	48.81	54.52	55.58	52.01	47.67
Receivables Turnover TTM	34.16	21.39	8.91	10.23	7.04	7.82	6.01	7.48	6.69	6.57	7.02	7.66
Per Share Metrics
Diluted EPS TTM	-12.71	-10.89	-7.59	-24.59	-3.28	-2.91	-2.09	-1.77	-2.91	-3.04	-3.32	-3.39
Free Cash Flow Per Share TTM	-0.21	-0.17	-0.12	-0.67	-1.59	-0.09	-0.07	0.41	0.42	0.55	1.09	0.82
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	70.56%	67.26%	59.74%	25.73%	4.58%	9.80%	13.64%	14.95%	13.86%	15.46%	15.22%	15.06%
Operating Profit Margin TTM	-1,771.61%	-1,947.97%	-1,689.03%	-41.59%	-22.08%	-11.97%	-7.79%	-6.20%	-2.60%	-1.29%	-0.18%	0.29%
Net Profit Margin TTM	-2,073.85%	-2,305.15%	-2,148.44%	-827.48%	-13.51%	-9.91%	-6.72%	-5.62%	-6.77%	-6.94%	-6.93%	-6.73%
Growth Metrics
Net Revenue Growth (1Y)	96.42%	38.73%	2.13%	-41.82%	-42.88%	-32.90%	-35.14%	-37.57%	40.23%	34.65%	45.36%	45.40%
Net Income Growth (1Y)	30,055.40%	32,169.84%	32,529.18%	8,460.21%	13.96%	-4.19%	-37.05%	-47.80%	22.31%	33.55%	84.08%	171.12%
EPS Growth (1Y)	287.37%	274.31%	262.54%	1,287.89%	12.67%	-4.19%	-37.05%	-47.80%	22.31%	35.57%	86.88%	175.23%
Calculated Values
Free Cash Flow TTM	-18.38M	-16.28M	-12.02M	-4.53M	-1.77M	-99.82K	-81.40K	454.62K	461.79K	600.45K	1.19M	904.95K
Net Debt	1.55M	-6.61M	-21.89M	-32.77M	-663.16K	-1.20M	-1.74M	-2.18M	-1.72M	-1.30M	-2.18M	-1.72M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-05-19Purchase

Owner: Pruitt, Michael D

Title: Chief Executive Officer

Shares: 500

Price/Share: $4.16

Value: $2,080.00

Shares Owned: 1,500

Relationship: Director,Officer

Ownership: Indirect

2025-12-19Purchase

Owner: Navi, Ryan David

Title: Chief Investment Officer

Shares: 10,000

Price/Share: $7.08

Value: $70,800.00

Shares Owned: 10,000

Relationship: Officer

Ownership: Direct

2025-12-15Purchase

Owner: Pruitt, Michael D

Title: Chief Executive Officer

Shares: 1,000

Price/Share: $7.44

Value: $7,440.00

Shares Owned: 1,000

Relationship: Officer

Ownership: Indirect

2023-05-25Purchase

Owner: Shah, Sangita

Title: -

Shares: 3,000

Price/Share: $1.03

Value: $3,090.00

Shares Owned: 111,123

Relationship: Director

Ownership: Indirect

2023-05-23Purchase

Owner: Shah, Sangita

Title: -

Shares: 2,723

Price/Share: $1.01

Value: $2,750.23

Shares Owned: 107,723

Relationship: Director

Ownership: Indirect

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-05-19	Pruitt, Michael D	Director,Officer	Chief Executive Officer	Indirect	Purchase	500	4.16	$2,080.00	1,500	4
2025-12-19	Navi, Ryan David	Officer	Chief Investment Officer	Direct	Purchase	10,000	7.08	$70,800.00	10,000	4
2025-12-15	Pruitt, Michael D	Officer	Chief Executive Officer	Indirect	Purchase	1,000	7.44	$7,440.00	1,000	4
2023-05-25	Shah, Sangita	Director	-	Indirect	Purchase	3,000	1.03	$3,090.00	111,123	4
2023-05-23	Shah, Sangita	Director	-	Indirect	Purchase	2,723	1.01	$2,750.23	107,723	4
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Institutional Ownership

No data available for chart

2026-03-31

27.31%

Inst. Shares: 25,921,781

Shares Outstanding: 94,924,520

2025-12-31

43.10%

Inst. Shares: 42,707,938

Shares Outstanding: 99,099,267

2025-09-30

Inst. Shares: 31,664,593

Shares Outstanding: 6,791,173

2025-06-30

9.72%

Inst. Shares: 108,231

Shares Outstanding: 1,113,670

2025-03-31

8.44%

Inst. Shares: 92,953

Shares Outstanding: 1,101,069

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	25,921,781	94,924,520	27.31%
2025-12-31	42,707,938	99,099,267	43.10%
2025-09-30	31,664,593	6,791,173	-
2025-06-30	108,231	1,113,670	9.72%
2025-03-31	92,953	1,101,069	8.44%
2024-12-31	106,323	1,101,069	9.66%
2024-09-30	93,858	1,101,069	8.52%
2024-06-30	97,053	1,101,069	8.81%
2024-03-31	601,869	1,101,069	54.66%
2023-12-31	794,488	1,101,069	72.16%
2023-09-30	824,567	1,101,069	74.89%
2023-06-30	834,263	1,101,069	75.77%
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Forward Industries, Inc. (FWDI) — SEC Financial Statements & Analysis

Forward Industries, Inc. (FWDI) is a finance services company, incorporated in TX. Forward Industries, Inc. trades on Nasdaq as: FWDI. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Forward Industries, Inc. reported a 96.42% year-over-year revenue growth, a Gross Profit Margin of 70.56% (TTM), a Debt-to-Equity ratio of 0.27x. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 96.42%
Gross Profit Margin TTM: 70.56%
Debt To Equity: 0.27x

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Forward Industries, Inc. in?

Forward Industries, Inc. (FWDI) operates in the Finance Services industry.

What exchange does FWDI trade on?

Forward Industries, Inc. (FWDI) trades on the Nasdaq.

Where is Forward Industries, Inc. incorporated?

Forward Industries, Inc. is incorporated in TX.