Forward Industries, Inc. (FWDI) Stock Analysis

Company Overview

The market values Forward Industries, Inc. (FWDI) at $465.97M. The company sits in the Consumer Cyclical sector, in the Footwear & Accessories industry. The company reports 60 employees.

Over the past 52 weeks the price has ranged from $3.48 to $46.00. FWDI last closed at $6.31 on September 4, 2026. That is −$0.37 (−5.54%) against the previous close. The latest close sits 81.32% above that 52-week low.

Financial Health

In fiscal 2025, Forward Industries, Inc. reported revenue of $18.19M. That is −9.02% against the prior fiscal year, when revenue was $19.99M. The same year closed with a net loss of $166.97M. Profit margin runs at 0%. That is 5.5 percentage points below the Footwear & Accessories median of 5.55%. Earnings per share on a trailing basis come to −30.27.

Across the 4 fiscal years on file, revenue moves from $38.21M in 2022 to $18.19M in 2025. Of those 4 years, 0 report positive net income.

Valuation Assessment

The record shows negative trailing earnings, so no price-to-earnings ratio is published. The forward P/E on file is 32.36. The PEG ratio, which sets the P/E against expected earnings growth, reads 2.53. The price-to-sales ratio is 8.77. On price-to-sales that is 7.5 times the Footwear & Accessories median of 1.17. The medians here are taken across 15 Footwear & Accessories companies that report the metric.

The reported beta is 0.89. Daily returns over the trailing 10 years annualize to a volatility of 90.78%. The trailing one-year price return is −57.82%. Across 10 years the annualized return works out at −9.11%.

Growth & Income

No dividend is on file for FWDI.

2026 is still running; the price is −4.54% year to date. The strongest complete calendar year on file is 2020 at +83.84%; the weakest is 2024 at −32.19%. Of the 9 complete calendar years on file, 3 finished higher.