Forward Industries, Inc. (FWDI) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Apparel - Footwear & Accessories
EV/EBITDA
N/A
—
5yr avg: 18.54
30Y Low5.9·High34.7
P/FCF
↑
N/A
—
5yr avg: 10.09
30Y Low8.4·High119.4
P/B Ratio
↓
0.02
↓-99% vs avg
5yr avg: 1.98
30Y Low0.1·High15.4
ROE
↓
-22.7%
↓+40% vs avg
5yr avg: -37.9%
30Y Low-84%·High62%
Debt/EBITDA
N/A
—
5yr avg: 9.15
30Y Low0.1·High9.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FWDI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Forward Industries, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $32M | $174M | $4M | $8M | $13M | $25M | $13M | $9M | $14M | $22M | $26M |
| Enterprise Value | $-3907167 | $138M | $5M | $9M | $16M | $29M | $18M | $9M | $12M | $17M | $21M |
| P/E Ratio → | -0.19 | — | — | — | — | 47.61 | — | — | 10.20 | 35.11 | 42.57 |
| P/S Ratio | 1.74 | 9.55 | 0.14 | 0.21 | 0.32 | 0.64 | 0.39 | 0.25 | 0.41 | 0.88 | 0.94 |
| P/B Ratio | 0.02 | 0.12 | 1.38 | 2.92 | 2.14 | 3.35 | 2.02 | 1.20 | 1.29 | 2.43 | 3.16 |
| P/FCF | — | — | 12.01 | 8.45 | 9.80 | — | — | — | 15.89 | — | 35.90 |
| P/OCF | — | — | 10.09 | 7.35 | 8.72 | — | — | — | 14.96 | — | 33.65 |
P/E links to full P/E history page with 30-year chart
FWDI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.59 | 0.15 | 0.24 | 0.37 | 0.74 | 0.53 | 0.25 | 0.35 | 0.69 | 0.77 |
| EV / EBITDA | — | — | — | 18.54 | — | — | — | — | 25.04 | 27.49 | 31.50 |
| EV / EBIT | — | — | — | 31.17 | 27.50 | 41.75 | — | — | 16.37 | 29.45 | 34.19 |
| EV / FCF | — | — | 13.21 | 9.74 | 11.60 | — | — | — | 13.59 | — | 29.29 |
FWDI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Forward Industries, Inc. earns an operating margin of -929.7%, below the Consumer Cyclical sector average of 2.9%. Operating margins have compressed from 0.4% to -929.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -22.7% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.5% | 28.5% | 20.6% | 22.8% | 19.8% | 20.8% | 19.3% | 17.6% | 19.0% | 16.9% | 18.5% |
| Operating Margin | -929.7% | -929.7% | -6.4% | 0.4% | -2.9% | -2.0% | -2.8% | -8.3% | 0.8% | 2.4% | 2.2% |
| Net Profit Margin | -918.2% | -918.2% | -6.5% | -10.2% | -3.3% | 1.3% | -5.1% | -9.6% | 4.0% | 2.3% | 2.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -22.7% | -22.7% | -69.9% | -84.1% | -20.1% | 7.5% | -24.8% | -38.3% | 13.8% | 6.8% | 7.8% |
| ROA | -22.4% | -22.4% | -12.1% | -19.5% | -6.8% | 2.7% | -10.0% | -20.4% | 8.5% | 4.5% | 4.8% |
| ROIC | -17.6% | -17.6% | -40.5% | 1.9% | -9.2% | -5.0% | -7.6% | -27.9% | 2.9% | 11.6% | 13.8% |
| ROCE | -22.9% | -22.9% | -32.4% | 1.8% | -10.5% | -6.6% | -10.6% | -31.9% | 2.5% | 7.0% | 7.9% |
FWDI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $38M exceeds total debt of $3M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 1.16 | 1.66 | 0.80 | 0.74 | 1.18 | 0.39 | 0.21 | — | — |
| Debt / EBITDA | — | — | — | 9.15 | — | — | — | — | 4.70 | — | — |
| Net Debt / Equity | — | -0.02 | 0.14 | 0.45 | 0.39 | 0.55 | 0.74 | -0.01 | -0.19 | -0.52 | -0.58 |
| Net Debt / EBITDA | — | — | — | 2.46 | — | — | — | — | -4.24 | -7.45 | -7.11 |
| Debt / FCF | — | — | 1.20 | 1.29 | 1.80 | — | — | — | -2.30 | — | -6.61 |
| Interest Coverage | -3440.75 | -3440.75 | -30.84 | 1.53 | -10.05 | -4.45 | -5.53 | -15.41 | 2.26 | — | — |
Net cash position: cash ($38M) exceeds total debt ($3M)
FWDI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Forward Industries, Inc.'s current ratio of 15.14x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.05x to 15.14x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 15.14 | 15.14 | 1.03 | 1.05 | 1.44 | 1.78 | 1.38 | 1.43 | 2.00 | 3.13 | 2.96 |
| Quick Ratio | 15.14 | 15.14 | 0.98 | 1.02 | 1.37 | 1.49 | 1.24 | 1.23 | 1.79 | 2.63 | 2.34 |
| Cash Ratio | 14.01 | 14.01 | 0.32 | 0.29 | 0.26 | 0.20 | 0.33 | 0.37 | 0.57 | 1.10 | 1.14 |
| Asset Turnover | — | 0.01 | 2.04 | 2.11 | 2.02 | 1.97 | 1.78 | 2.32 | 1.79 | 1.88 | 2.22 |
| Inventory Turnover | 48.95 | — | 48.95 | 84.70 | 52.19 | 14.98 | 21.82 | 19.16 | 17.80 | 9.70 | 8.71 |
| Days Sales Outstanding | — | 32.82 | 67.80 | 69.33 | 65.03 | 81.95 | 80.48 | 65.32 | 95.48 | 91.65 | 64.61 |
FWDI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Forward Industries, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 2.1% | — | — | 9.8% | 2.8% | 2.3% |
| FCF Yield | — | — | 8.3% | 11.8% | 10.2% | — | — | — | 6.3% | — | 2.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $7M | $1M | $1M | $1M | $1M | $958344 | $953203 | $935467 | $882306 | $867558 |
Peer Comparison
Compare FWDI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FWDIYou | $32M | -0.2 | — | — | 28.5% | -929.7% | -22.7% | -17.6% | — |
 KOSS | $40M | -44.8 | — | — | 37.8% | -13.8% | -2.8% | -4.2% | — |
 LIQT | $22M | -2.6 | — | — | 7.6% | -50.3% | -63.1% | -31.1% | — |
 CLFD | $519M | -64.6 | 61.5 | 21.0 | 33.7% | 1.4% | -3.0% | 0.6% | 1.1 |
 PCYO | $281M | 21.6 | 26.7 | 76.2 | 61.4% | 29.4% | 9.6% | 4.7% | 0.7 |
 JAKK | $266M | 27.1 | 12.5 | — | 32.4% | 2.5% | 4.0% | 4.1% | 3.8 |
 UEIC | $55M | -3.1 | 4.0 | 2.8 | 28.0% | -0.0% | -12.4% | -0.0% | 2.4 |
 SMPL | $1B | 12.2 | 6.0 | 7.9 | 35.1% | 15.1% | 5.9% | 8.1% | 1.3 |
 APH | $168B | 40.9 | 25.0 | 38.4 | 36.9% | 25.9% | 36.6% | 28.3% | 2.2 |
 AVY | $13B | 18.8 | 12.1 | 17.9 | 28.8% | 12.5% | 30.2% | 15.2% | 2.8 |
 PKG | $20B | 26.0 | 12.5 | 27.4 | 21.0% | 14.0% | 17.1% | 12.6% | 2.3 |
| Consumer Cyclical Median | — | 19.4 | 11.4 | 15.3 | 36.8% | 2.9% | 5.7% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonFWDI — Frequently Asked Questions
Quick answers to the most common questions about buying FWDI stock.
What is Forward Industries, Inc.'s P/E ratio?
Forward Industries, Inc.'s current P/E ratio is -0.2x. The historical average is 34.7x.
What is Forward Industries, Inc.'s ROE?
Forward Industries, Inc.'s return on equity (ROE) is -22.7%. The historical average is -9.9%.
Is FWDI stock overvalued?
Based on historical data, Forward Industries, Inc. is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.
What are Forward Industries, Inc.'s profit margins?
Forward Industries, Inc. has 28.5% gross margin and -929.7% operating margin.