FWDI
Forward Industries, Inc.
Apparel - Footwear & Accessories
Market Cap$33M
5Y Perf.-60.7%
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Stock Comparison
FWDI vs KOSS vs UEIC vs LIQT vs CLFD
Revenue, margins, valuation, and 5-year total return — side by side.
KOSS
Koss Corporation
Consumer Electronics
Market Cap$39M
5Y Perf.+268.1%
UEIC
Universal Electronics Inc.
Hardware, Equipment & Parts
Market Cap$54M
5Y Perf.-90.5%
LIQT
LiqTech International, Inc.
Industrial - Pollution & Treatment Controls
Market Cap$22M
5Y Perf.-95.4%
CLFD
Clearfield, Inc.
Communication Equipment
Market Cap$548M
5Y Perf.+189.5%
FWDI vs KOSS vs UEIC vs LIQT vs CLFD — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | FWDI | KOSS | UEIC | LIQT | CLFD |
|---|---|---|---|---|---|
| Industry | Apparel - Footwear & Accessories | Consumer Electronics | Hardware, Equipment & Parts | Industrial - Pollution & Treatment Controls | Communication Equipment |
| Market Cap | $33M | $39M | $54M | $22M | $548M |
| Revenue (TTM) | $33M | $13M | $368M | $17M | $136M |
| Net Income (TTM) | $-752M | $-1M | $-19M | $-9M | $-9M |
| Gross Margin | 62.2% | 35.6% | 28.0% | 4.9% | 37.2% |
| Operating Margin | -22.8% | -17.3% | -1.6% | -50.0% | 1.4% |
| Forward P/E | — | — | — | — | 75.9x |
| Total Debt | $3M | $3M | $33M | $12M | $9M |
| Cash & Equiv. | $38M | $3M | $32M | — | $21M |
FWDI vs KOSS vs UEIC vs LIQT vs CLFD — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
FWDI
KOSS
UEIC
LIQT
CLFD
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Forward Industries,… (FWDI) | 100 | 39.3 | -60.7% |
| Koss Corporation (KOSS) | 100 | 368.1 | +268.1% |
| Universal Electroni… (UEIC) | 100 | 9.5 | -90.5% |
| LiqTech Internation… (LIQT) | 100 | 4.6 | -95.4% |
| Clearfield, Inc. (CLFD) | 100 | 289.5 | +189.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FWDI vs KOSS vs UEIC vs LIQT vs CLFD
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: UEIC and LIQT are tied at the top with 2 categories each (5-stock set) — the right choice depends on your priorities. LiqTech International, Inc. is the stronger pick specifically for capital preservation and lower volatility and recent price momentum and sentiment. KOSS and CLFD also each lead in at least one category. This set spans 3 sectors — these stocks serve different portfolio roles, not just different price points.
FWDI
Forward Industries, Inc.
The Consumer Cyclical Pick
Among these 5 stocks, FWDI doesn't own a clear edge in any measured category.
Best for: consumer cyclical exposure
KOSS
Koss Corporation
The Defensive Pick
KOSS ranks third and is worth considering specifically for sleep-well-at-night and defensive.
- Lower volatility, beta 1.58, Low D/E 8.3%, current ratio 11.65x
- Beta 1.58, current ratio 11.65x
- -3.0% ROA vs FWDI's -84.2%, ROIC -4.2% vs -17.6%
Best for: sleep-well-at-night and defensive
UEIC
Universal Electronics Inc.
The Income Pick
UEIC has the current edge in this matchup, primarily because of its strength in income & stability.
- Dividend streak 1 yrs, beta 0.82
- Better valuation composite
- -5.1% margin vs FWDI's -22.8%
Best for: income & stability
LIQT
LiqTech International, Inc.
The Growth Play
LIQT is the #2 pick in this set and the best alternative if growth exposure is your priority.
- Rev growth 13.0%, EPS growth 45.7%, 3Y rev CAGR 1.1%
- Beta 0.54 vs FWDI's 3.16
- +61.0% vs FWDI's -39.7%
Best for: growth exposure
CLFD
Clearfield, Inc.
The Long-Run Compounder
CLFD is the clearest fit if your priority is long-term compounding.
- 120.7% 10Y total return vs KOSS's 90.0%
- 19.6% revenue growth vs FWDI's -39.8%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | CLFD | 19.6% revenue growth vs FWDI's -39.8% |
| Value | UEIC | Better valuation composite |
| Quality / Margins | UEIC | -5.1% margin vs FWDI's -22.8% |
| Stability / Safety | LIQT | Beta 0.54 vs FWDI's 3.16 |
| Dividends | Tie | None of these 5 stocks pay a meaningful dividend |
| Momentum (1Y) | LIQT | +61.0% vs FWDI's -39.7% |
| Efficiency (ROA) | KOSS | -3.0% ROA vs FWDI's -84.2%, ROIC -4.2% vs -17.6% |
FWDI vs KOSS vs UEIC vs LIQT vs CLFD — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
Segment breakdown not available.
FY 2025
FY 2024
Segment breakdown not available.
FWDI vs KOSS vs UEIC vs LIQT vs CLFD — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLUEICLAGGINGLIQT
Who Leads Where
UEIC leads in 2 of 6 categories
CLFD leads 2 • FWDI leads 0 • KOSS leads 0 • LIQT leads 0 • 2 tied
Explore the data ↓LIQTLiqTech International…
0leads
KOSSKoss Corporation
0leads
FWDIForward Industries, I…
0leads
CLFDClearfield, Inc.
2leads
UEICUniversal Electronics…
2leads
6 Total Categories
CATEGORYLEADERvs CLFDvs FWDIMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
UEIC3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
CLFD5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
CLFD4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
UEIC1/1
Income & Cash Flow (Last 12 Months)
Evenly matched — FWDI and UEIC and CLFD each lead in 2 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
UEIC is the larger business by revenue, generating $368M annually — 28.7x KOSS's $13M. UEIC is the more profitable business, keeping -5.1% of every revenue dollar as net income compared to FWDI's -22.8%. On growth, FWDI holds the edge at +2.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | FWDIForward Industrie… | KOSSKoss Corporation | UEICUniversal Electro… | LIQTLiqTech Internati… | CLFDClearfield, Inc. |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $33M | $13M | $368M | $17M | $136M |
| EBITDAEarnings before interest/tax | -$754M | -$2M | $9M | -$6M | $6M |
| Net IncomeAfter-tax profit | -$752M | -$1M | -$19M | -$9M | -$9M |
| Free Cash FlowCash after capex | -$12M | -$1M | $17M | -$7M | $16M |
| Gross MarginGross profit ÷ Revenue | +62.2% | +35.6% | +28.0% | +4.9% | +37.2% |
| Operating MarginEBIT ÷ Revenue | -22.8% | -17.3% | -1.6% | -50.0% | +1.4% |
| Net MarginNet income ÷ Revenue | -22.8% | -8.6% | -5.1% | -53.3% | -6.3% |
| FCF MarginFCF ÷ Revenue | -37.4% | -11.2% | +4.7% | -39.3% | +11.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | +2.2% | +1.6% | -20.6% | +53.6% | -27.1% |
| EPS Growth (YoY)Latest quarter vs prior year | -8.2% | -77.5% | +76.3% | +69.4% | -142.5% |
Evenly matched — FWDI and UEIC and CLFD each lead in 2 of 6 comparable metrics.
Valuation Metrics
UEIC leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, UEIC's 3.9x EV/EBITDA is more attractive than CLFD's 65.0x.
| Metric | FWDIForward Industrie… | KOSSKoss Corporation | UEICUniversal Electro… | LIQTLiqTech Internati… | CLFDClearfield, Inc. |
|---|---|---|---|---|---|
| Market CapShares × price | $33M | $39M | $54M | $22M | $548M |
| Enterprise ValueMkt cap + debt − cash | -$3M | $39M | $55M | $34M | $535M |
| Trailing P/EPrice ÷ TTM EPS | -0.19x | -44.54x | -3.05x | -2.55x | -69.03x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — | — | — | 75.91x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | — | — | 3.93x | — | 64.96x |
| Price / SalesMarket cap ÷ Revenue | 1.79x | 3.12x | 0.15x | 1.32x | 3.65x |
| Price / BookPrice ÷ Book value/share | 0.02x | 1.27x | 0.39x | 2.10x | 2.19x |
| Price / FCFMarket cap ÷ FCF | — | — | 2.75x | — | 22.18x |
UEIC leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
CLFD leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
CLFD delivers a -3.4% return on equity — every $100 of shareholder capital generates $-3 in annual profit, vs $-85 for FWDI. FWDI carries lower financial leverage with a 0.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to LIQT's 1.17x. On the Piotroski fundamental quality scale (0–9), CLFD scores 7/9 vs LIQT's 2/9, reflecting strong financial health.
| Metric | FWDIForward Industrie… | KOSSKoss Corporation | UEICUniversal Electro… | LIQTLiqTech Internati… | CLFDClearfield, Inc. |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | -85.4% | -3.6% | -12.5% | -70.0% | -3.4% |
| ROA (TTM)Return on assets | -84.2% | -3.0% | -6.4% | -29.5% | -3.0% |
| ROICReturn on invested capital | -17.6% | -4.2% | -0.0% | -31.1% | +0.6% |
| ROCEReturn on capital employed | -22.9% | -4.9% | -0.1% | — | +0.8% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 | 6 | 2 | 7 |
| Debt / EquityFinancial leverage | 0.00x | 0.08x | 0.23x | 1.17x | 0.03x |
| Net DebtTotal debt minus cash | -$36M | -$266,063 | $1M | $12M | -$13M |
| Cash & Equiv.Liquid assets | $38M | $3M | $32M | — | $21M |
| Total DebtShort + long-term debt | $3M | $3M | $33M | $12M | $9M |
| Interest CoverageEBIT ÷ Interest expense | 18.72x | -3827.70x | -14.08x | -13.46x | 65.80x |
CLFD leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
CLFD leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CLFD five years ago would be worth $11,247 today (with dividends reinvested), compared to $392 for LIQT. Over the past 12 months, LIQT leads with a +61.0% total return vs FWDI's -39.7%. The 3-year compound annual growth rate (CAGR) favors CLFD at 3.5% vs FWDI's -22.3% — a key indicator of consistent wealth creation.
| Metric | FWDIForward Industrie… | KOSSKoss Corporation | UEICUniversal Electro… | LIQTLiqTech Internati… | CLFDClearfield, Inc. |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | -34.5% | -4.1% | +18.5% | +52.3% | +35.8% |
| 1-Year ReturnPast 12 months | -39.7% | -12.4% | -29.9% | +61.0% | +25.8% |
| 3-Year ReturnCumulative with dividends | -53.0% | +4.8% | -51.2% | -32.4% | +11.0% |
| 5-Year ReturnCumulative with dividends | -79.7% | -74.2% | -91.0% | -96.1% | +12.5% |
| 10-Year ReturnCumulative with dividends | -82.4% | +90.0% | -93.3% | -91.0% | +120.7% |
| CAGR (3Y)Annualised 3-year return | -22.3% | +1.6% | -21.3% | -12.3% | +3.5% |
CLFD leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — LIQT and CLFD each lead in 1 of 2 comparable metrics.
Risk & Volatility
LIQT is the less volatile stock with a 0.54 beta — it tends to amplify market swings less than FWDI's 3.16 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CLFD currently trades 85.6% from its 52-week high vs FWDI's 10.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FWDIForward Industrie… | KOSSKoss Corporation | UEICUniversal Electro… | LIQTLiqTech Internati… | CLFDClearfield, Inc. |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 3.16x | 1.58x | 0.82x | 0.54x | 1.74x |
| 52-Week HighHighest price in past year | $46.00 | $8.59 | $7.50 | $3.35 | $46.76 |
| 52-Week LowLowest price in past year | $4.03 | $3.50 | $2.69 | $1.30 | $24.01 |
| % of 52W HighCurrent price vs 52-week peak | +10.4% | +48.4% | +57.3% | +67.8% | +85.6% |
| RSI (14)Momentum oscillator 0–100 | 50.5 | 50.6 | 55.1 | 61.7 | 77.4 |
| Avg Volume (50D)Average daily shares traded | 851K | 23K | 54K | 50K | 163K |
Evenly matched — LIQT and CLFD each lead in 1 of 2 comparable metrics.
Analyst Outlook
UEIC leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
| Metric | FWDIForward Industrie… | KOSSKoss Corporation | UEICUniversal Electro… | LIQTLiqTech Internati… | CLFDClearfield, Inc. |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | — | — | — | Buy |
| Price TargetConsensus 12-month target | — | — | — | — | $43.33 |
| # AnalystsCovering analysts | — | — | — | — | 8 |
| Dividend YieldAnnual dividend ÷ price | — | — | — | — | — |
| Dividend StreakConsecutive years of raises | 0 | 0 | 1 | — | — |
| Dividend / ShareAnnual DPS | — | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | +5.7% | 0.0% | +3.0% |
UEIC leads this category, winning 1 of 1 comparable metric.
Key Takeaway
UEIC leads in 2 of 6 categories (Valuation Metrics, Analyst Outlook). CLFD leads in 2 (Profitability & Efficiency, Total Returns). 2 tied.
Best OverallUniversal Electronics Inc. (UEIC)Leads 2 of 6 categories
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FWDI vs KOSS vs UEIC vs LIQT vs CLFD: Key Questions Answered
8 questions · data-driven answers · updated daily
01Is FWDI or KOSS or UEIC or LIQT or CLFD a better buy right now?
For growth investors, Clearfield, Inc.
(CLFD) is the stronger pick with 19. 6% revenue growth year-over-year, versus -39. 8% for Forward Industries, Inc. (FWDI). Analysts rate Clearfield, Inc. (CLFD) a "Buy" — based on 8 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — FWDI or KOSS or UEIC or LIQT or CLFD?
Over the past 5 years, Clearfield, Inc.
(CLFD) delivered a total return of +12. 5%, compared to -96. 1% for LiqTech International, Inc. (LIQT). Over 10 years, the gap is even starker: CLFD returned +120. 7% versus UEIC's -93. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — FWDI or KOSS or UEIC or LIQT or CLFD?
By beta (market sensitivity over 5 years), LiqTech International, Inc.
(LIQT) is the lower-risk stock at 0. 54β versus Forward Industries, Inc. 's 3. 16β — meaning FWDI is approximately 487% more volatile than LIQT relative to the S&P 500. On balance sheet safety, Forward Industries, Inc. (FWDI) carries a lower debt/equity ratio of 0% versus 117% for LiqTech International, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — FWDI or KOSS or UEIC or LIQT or CLFD?
By revenue growth (latest reported year), Clearfield, Inc.
(CLFD) is pulling ahead at 19. 6% versus -39. 8% for Forward Industries, Inc. (FWDI). On earnings-per-share growth, the picture is similar: LiqTech International, Inc. grew EPS 45. 7% year-over-year, compared to -1289. 3% for Forward Industries, Inc.. Over a 3-year CAGR, LIQT leads at 1. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — FWDI or KOSS or UEIC or LIQT or CLFD?
Universal Electronics Inc.
(UEIC) is the more profitable company, earning -5. 1% net margin versus -918. 2% for Forward Industries, Inc. — meaning it keeps -5. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CLFD leads at 1. 4% versus -929. 7% for FWDI. At the gross margin level — before operating expenses — KOSS leads at 37. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — FWDI or KOSS or UEIC or LIQT or CLFD?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
07Is FWDI or KOSS or UEIC or LIQT or CLFD better for a retirement portfolio?
For long-horizon retirement investors, LiqTech International, Inc.
(LIQT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 54)). Forward Industries, Inc. (FWDI) carries a higher beta of 3. 16 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (LIQT: -91. 0%, FWDI: -82. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between FWDI and KOSS and UEIC and LIQT and CLFD?
These companies operate in different sectors (FWDI (Consumer Cyclical) and KOSS (Technology) and UEIC (Technology) and LIQT (Industrials) and CLFD (Technology)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: FWDI is a small-cap quality compounder stock; KOSS is a small-cap quality compounder stock; UEIC is a small-cap quality compounder stock; LIQT is a small-cap quality compounder stock; CLFD is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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