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NASDAQ · Asset Management · USD

Forward Industries, Inc. (FWDI) Stock Analysis

Forward Industries, Inc. (FWDI) is a Asset Management stock listed on NASDAQ and quoted in US Dollar.

Last Updated: October 21, 2026

FWDI

$7.55

+$0.54 (+7.70%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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FWDI Key Statistics

As of Oct 21, 2026
Trading
Open
$7.27
Previous Close
$7.01
Day's Range
7.06–7.62
52-Week Range
3.48–19.00
Volume
1.70M
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
0.85
Valuation
Market Cap
$575.98M
P/E Ratio
unprofitable
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
29.04
PEG RatioThe P/E ratio divided by the expected earnings growth rate. It puts a high P/E in the context of how fast profits are growing.
2.53
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
10.84
EPS (ttm)Profit attributable to each share over the last twelve months.
−30.27
Financials (FY)
Revenue (FY)
$18.19M−9.02%
Net Income (FY)
−$166.97M
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
76.29M
1-Year Return
−59.54%
Dividend and dates
Avg Volume
1.82M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, FWDI closed at $7.55, −59.54% over 1 year.

Forward Industries, Inc. (FWDI) has a market capitalization of $575.98M.

In fiscal 2025, FWDI reported revenue of $18.19M.

FWDI Stock Return by Calendar Year

Forward Industries, Inc. (FWDI) 10-year return: what $10,000 became

1 year
$10,000 $4,046
−59.54%
5 years
$10,000 $3,326
−66.74%
10 years
$10,000 $6,623
−33.77%

If you had invested $10,000 in Forward Industries, Inc. (FWDI) 10 years ago, at the close on October 21, 2016, it would have been worth $6,623 at the close on October 21, 2026: −33.77% in total, −4.04% a year. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)+14.22%
2025+33.54%
2024−32.19%
2023−31.78%
2022−31.41%
2021−14.29%
2020+83.84%
2019−23.85%
2018+5.69%
2017−1.60%
2016 (partial year)−14.38%

As of October 21, 2026.

FWDI Revenue and Earnings by Fiscal Year

FY ends September
Fiscal yearRevenueNet incomeNet margin
2025$18.19M−$166.97M−918.1%
2024$19.99M−$1.95M−9.8%
2023$36.69M−$3.74M−10.2%
2022$38.21M−$1.38M−3.6%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025$18.19M$5.19M−$6.37M−$166.97M−918.1%
2024$19.99M$5.18M−$1.95M−$1.95M−9.8%
2023$36.69M$8.36M$159.66K−$3.74M−10.2%
2022$38.21M$8.80M$588.47K−$1.38M−3.6%

Annual figures as reported, in the company's reporting currency. As of September 30, 2025.

FWDI Valuation vs Asset Management Median

Median of 512 stocks
MetricFWDIAsset Management medianvs median
P/S ratio10.848.5926% above

Medians across 512 Asset Management stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Recent News

All 20 articles ↓

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

The market values Forward Industries, Inc. (FWDI) at $575.98M. The company sits in the Financial Services sector, in the Asset Management industry. The company reports 60 employees.

Over the past 52 weeks the price has ranged from $3.48 to $19.00. FWDI last closed at $7.55 on October 21, 2026. That is +$0.54 (+7.70%) against the previous close. The latest close sits 116.95% 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. 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 29.04. The PEG ratio, which sets the P/E against expected earnings growth, reads 2.53. The price-to-sales ratio is 10.84. On price-to-sales that is 26.19% above the Asset Management median of 8.59. The medians here are taken across 512 Asset Management companies that report the metric.

The reported beta is 0.85. Daily returns over the trailing 10 years annualize to a volatility of 91.35%. The trailing one-year total return is −59.54%. Across 10 years the annualized return works out at −4.04%.

Growth & Income

No dividend is on file for FWDI.

2026 is still running; the total return is +14.22% 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.

Peer Comparison

Forward Industries, Inc. (FWDI) operates in the Asset Management industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
Forward Industries, Inc. FWDI $575.98M —
BlackRock, Inc. BLK $184.31B 25.8
Blackstone Inc. BX $127.43B 23.9
Brookfield Corporation BN $83.74B 69.5

The Asset Management industry average P/E ratio is 9.4x. Forward Industries, Inc. has no P/E ratio because it is not currently profitable.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About Forward Industries, Inc.

Forward Industries, Inc. operates as a Solana (SOL) focused digital asset treasury company. The company operates through Digital Assets and Design segments. The Digital Assets segment captures SOL-based yield generated by participating in the Solana network's staking protocol. The Design segment offers hardware and software product design and engineering services to customers located in the United States. The company was incorporated in 1961 and is based in Austin, Texas.

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