Forward Industries, Inc. FWDI
- Market cap
- $614.4M
- P/E
- 0.0×
Follow FWDI
Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10.20 | 10.20 | 12.00 | 7.80 | 9.00 | 15.00 | 10.40 | 5.90 | 3.10 | 3.32 |
Analyst estimates 2026–2028 Powerpack |
Low Price
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| 21.10 | 16.50 | 44.50 | 17.00 | 27.10 | 57.50 | 19.40 | 13.60 | 8.29 | 46.00 |
High Price
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| 11 | 10 | 73 | 73 | 85 | 90 | 100 | 100 | 100 | 60 |
Employees
|
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| 2 | 2 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue/Emp
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| 27 | 25 | 34 | 37 | 34 | 39 | 38 | 37 | 20 | 18 |
Revenue
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| 18.49% | 16.93% | 19.04% | 17.59% | 19.25% | 20.85% | 23.03% | 22.80% | 25.93% | 28.54% |
Gross Margin
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| 1 | 1 | 1 | (4) | (2) | 1 | 0 | 0 | (2) | (169) |
EBT
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| 2.21% | 2.34% | 1.83% | (9.65%) | (5.12%) | 1.34% | 1.18% | 0.49% | (10.72%) | (929.59%) |
EBT Margin
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| 1 | 1 | 1 | (4) | (2) | 1 | (1) | (4) | (2) | (167) |
Net Income
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| 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 2 |
Depreciation
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| 32.25 | 28.38 | 37.24 | 39.25 | 35.98 | 39.22 | 37.98 | 33.32 | 18.16 | 2.68 |
Revenue/Sh
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| 0.70 | 0.70 | 1.50 | (3.80) | (1.90) | 0.50 | (1.40) | (3.70) | (1.77) | (24.59) |
Earnings/Sh
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| 0.90 | (0.16) | 1.03 | (2.07) | (0.27) | (0.53) | 1.53 | 0.95 | 0.47 | (0.66) |
Cash Flow/Sh
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| (0.06) | 0.00 | (0.06) | (0.03) | (0.07) | (0.07) | (0.17) | (0.12) | (0.06) | (132.64) |
Capex/Sh
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| 0.85 | (0.16) | 0.97 | (2.10) | (0.35) | (0.60) | 1.36 | 0.82 | 0.41 | (133.31) |
Free CF/Sh
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| 9.59 | 10.23 | 11.98 | 8.09 | 6.87 | 7.48 | 6.23 | 2.38 | 2.69 | 216.48 |
Book Value/Sh
|
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| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 7 |
Shares
|
|||
| 18.63 | 18.79 | 10.67 | 0.00 | 0.00 | 47.80 | 0.00 | 0.00 | 0.00 | 0.00 |
PE Ratio
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| 0.46 | 0.42 | 0.42 | 0.25 | 0.39 | 0.61 | 0.35 | 0.23 | 0.21 | 9.55 |
PS Ratio
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| 1.55 | 1.17 | 1.29 | 1.20 | 2.02 | 3.19 | 2.14 | 3.20 | 5.35 | 0.12 |
PB Ratio
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| 0.29 | 0.24 | 0.30 | 0.20 | 0.35 | 0.62 | 0.33 | 0.18 | 0.14 | 7.53 |
EV/Sales
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| 11.02 | (31.50) | 11.61 | (3.73) | (36.02) | (40.83) | 9.22 | 7.41 | 6.26 | (30.26) |
EV/FCF
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| 1 | 0 | 1 | (2) | 0 | (1) | 2 | 1 | 1 | (5) |
Op' Cash Flow
|
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| 0 | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (901) |
Capex
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| 1 | 0 | 1 | (2) | 0 | (1) | 1 | 1 | 0 | (905) |
FCF
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| 8 | 9 | 8 | 4 | 3 | 6 | 4 | 1 | 0 | 38 |
Working Cap'
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| — | — | 0 | 1 | 2 | 2 | 2 | 2 | — | — |
Total Debt
|
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| (5) | (5) | (4) | (2) | (1) | 1 | (1) | (2) | (3) | (38) |
Net Debt
|
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| 8 | 9 | 11 | 8 | 7 | 7 | 6 | 3 | 3 | 1,470 |
Sh' Equity
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| 4.82% | 4.53% | 8.52% | (20.41%) | (10.02%) | 2.67% | (6.76%) | (19.50%) | (12.13%) | (22.42%) |
ROA
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| 11.30% | 8.68% | 2.26% | (32.56%) | (23.82%) | (6.00%) | 6.73% | 10.49% | (707.97%) | (0.37%) |
ROIC
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| 7.82% | 6.77% | 13.77% | (38.32%) | (24.84%) | 7.47% | (20.11%) | (84.13%) | (115.31%) | (22.70%) |
ROE
|
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Forward Industries, Inc. peers in Footwear & Accessories
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| WEYS Weyco Group, Inc. | $452.9M | 12.9× | Compare |
| FOSL Fossil Group, Inc. | $337.7M | 0.0× | Compare |
| RCKY Rocky Brands, Inc. | $334.7M | 11.7× | Compare |
| DBI Designer Brands Inc. | $324.1M | 21.9× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| WWW Wolverine World Wide, Inc. | $1.6B | 14.8× | Compare |
| VRA Vera Bradley, Inc. | $116.8M | 0.0× | Compare |
| SHOO Steven Madden, Ltd. | $3.3B | 22.3× | Compare |
| BIRK Birkenstock Holding PLC | $5.7B | 15.7× | Compare |
Forward Industries, Inc. (FWDI) key facts
- Forward Industries, Inc. (FWDI) is a Footwear & Accessories company in the Consumer Cyclical sector, listed on Nasdaq.
- Forward Industries, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $18.2 million, down 9.02% from fiscal 2024.
- As of September 25, 2026, FWDI traded at $8.42, a market capitalization of $614.4 million.
- Return on equity was −22.7% and debt-to-equity 0.00.
Forward Industries, Inc. (FWDI) Latest News
23 Sep
Forward Industries announced a $25 million registered direct offering, selling 3.125 million common shares to an institutional investor at $8.00 per share—about a 7% discount to the prior close. Gross proceeds are expected to be about $25 million before fees. Net funds will be used to buy more SOL and expand its Solana-focused digital asset treasury, aiming to increase SOL per fully diluted share rather than just growing the treasury. The stock fell more than 4% to around $8.21 in mid-morning trading after the news, following a prior month rally of roughly 67%. The company launched its digital treasury strategy in 2025 and continues to buy, hold, stake, trade and invest in SOL and related assets. Equity dilution paired with a crypto-asset expansion strategy could meaningfully affect future finances and investor sentiment, though benefits depend on crypto performance and execution.
15 Sep
Forward Industries sweetened its SkyAI takeover offer to a 50% premium. Takeover bid for SkyAI at 50% premium marks major strategic move likely to alter Forward Industries' trajectory.
19 Aug
Forward Industries (FWDI) released its Q3 2026 earnings call transcript detailing quarterly financial results and business updates. Quarterly earnings transcripts supply performance metrics and outlook that can shift near-term investor views without guaranteeing major strategic shifts.
13 Aug
Forward Industries Inc (FWDI) highlighted strategic SOL accumulation in its Q3 2026 earnings call. Strategic SOL accumulation represents a major move that could significantly alter company trajectory and investor sentiment.
Forward Industries posted a $69 million Q3 net loss after writing down its Solana holdings. Q3 loss of $69 million from Solana writedowns severely damages Forward Industries financial position and heightens crypto exposure risks.
Forward Industries, Inc. (FWDI) held its Q3 2026 earnings call. Quarterly earnings calls deliver financial results and guidance that moderately shape near-term market views and operations.
2 Jul
Forward Industries shares rose 11% after the company increased its Solana holdings to 7.5 million. Share price rose 11% on expanded Solana holdings, producing moderate short-term market reaction without altering core operations.
1 Jul
Forward Industries shares spiked after a leading Solana treasury added $38 million in SOL. Treasury's $38 million SOL addition directly drove share price spike with potential to shift market trajectory.
15 May
Forward Industries, Inc. (FWDI) Q2 2026 earnings call detailed quarterly revenue, net income, segment performance, and management guidance on future operations and market conditions. Quarterly earnings results and guidance provide moderate updates to financial trajectory and investor views without indicating major strategic shifts.
20 Mar
Forward Industries, Inc. (FWDI) announced a share repurchase program authorizing the buyback of up to 6.16 million shares for $27.4 million. Large-scale share repurchase of 6.16 million shares for $27.4 million demonstrates strong financial confidence and potential to enhance EPS and stock value.
19 Mar
Forward Industries, Inc. (FWDI) secured a loan to repurchase shares after its stock price plunged 89%. Loan-funded share buyback after 89% stock decline signals major strategic capital deployment with high potential to alter financial trajectory and investor sentiment.
13 Feb
Forward Industries, Inc. reported its Q1 2026 earnings, highlighting a significant increase in revenue driven by strong demand for its product lines. The company also announced strategic initiatives aimed at expanding its market presence and enhancing operational efficiency. Management expressed optimism about future growth prospects, citing ongoing investments in innovation and customer engagement. Overall, the earnings call reflected a positive outlook for the company's performance in the upcoming quarters. The earnings report indicates significant revenue growth and strategic initiatives that could alter the company's trajectory.
Forward Industries, Inc. (FWDI) reported a significant revenue surge in Q1 2026, driven by strategic initiatives and product innovations. The company highlighted its focus on expanding market reach and enhancing operational efficiencies, which contributed to improved financial performance. Management expressed optimism about future growth prospects and outlined plans for continued investment in key areas to sustain momentum. The revenue surge and strategic initiatives are likely to significantly impact future performance and investor sentiment.
7 Feb
Forward Industries, Inc. (FWDI), focused on SOL technology, has faced challenges recently but remains optimistic about its future. The Chief Investment Officer highlighted the company's strategic positioning and potential for success despite current difficulties. Forward Industries aims to leverage its expertise in the SOL sector to navigate market fluctuations and enhance its competitive edge. The company's strategic positioning in the SOL sector may moderately influence its financial performance and competitive standing.
5 Feb
Forward Industries, Inc. faces challenges as the cryptocurrency market experiences a significant downturn, impacting companies that invested heavily in Bitcoin and other digital assets. The slump has raised concerns about the sustainability of crypto-related strategies and their effects on financial performance. As firms reassess their crypto holdings, the volatility in the market could lead to broader implications for companies like Forward Industries that have ventured into crypto investments. The downturn in the cryptocurrency market is expected to moderately influence Forward Industries' financial performance and strategic positioning.
12 Nov
Forward Industries, Inc. (FORD) is set to tokenize its shares through a partnership with Superstate, backed by Pantera Capital. This initiative aims to enhance liquidity and accessibility for investors, aligning with the growing trend of digital asset integration in traditional finance. The move is expected to attract a broader range of investors and potentially reshape the company's capital structure. Tokenizing shares could significantly enhance liquidity and attract new investors, impacting Forward Industries' market position and financial performance.
4 Nov
Forward Industries, Inc. has filed a prospectus and approved a $1 billion share repurchase program, signaling a strategic move to enhance shareholder value and potentially stabilize its stock price amidst market fluctuations. The approval of a significant share repurchase program is likely to have a substantial impact on investor sentiment and the company's financial performance.
Forward Industries, Inc. (FORD) has authorized a $1 billion stock buyback program, signaling confidence in its financial health and future growth potential. This move comes as the company's treasury in Solana, a cryptocurrency platform, continues to expand, indicating a strategic shift towards digital assets. The buyback is expected to enhance shareholder value and may positively influence market sentiment towards the company. The $1 billion buyback program is a significant strategic move that could enhance shareholder value and positively impact market perception.
18 Oct
Forward Industries, Inc. (FORD) has experienced a recent pullback in share price, prompting a reevaluation of its valuation. Analysts are assessing the company's financial health and market position in light of this decline. Factors such as product demand, competitive landscape, and potential growth opportunities are being considered to determine the future outlook for FORD. Investors are advised to closely monitor developments that could influence the company's trajectory. The share price pullback indicates potential challenges that may moderately influence Forward Industries' financial performance and market positioning.
17 Oct
The Trump administration plans to ease tariffs on the auto industry, according to Bloomberg reports. This move is expected to benefit automakers by reducing costs and potentially increasing competitiveness in the market. The decision comes amid ongoing discussions about trade policies and their impact on the automotive sector. Easing tariffs could moderately influence Forward Industries' operations and market sentiment, particularly if it affects supply chain costs.
8 Oct
Forward Industries, Inc. has launched a Solana Validator and has delegated its entire $1.5 billion stash of SOL tokens to it. This strategic move aims to enhance the company's involvement in the blockchain ecosystem and leverage the growing interest in decentralized finance. The delegation of a significant SOL stash to a validator represents a major strategic initiative that could enhance Forward Industries' position in the blockchain space.
7 Oct
Forward Industries, Inc. has launched a 0%-fee Solana validator in collaboration with Galaxy and Firedancer. This initiative aims to enhance the efficiency and accessibility of blockchain technology, positioning Forward Industries as a key player in the growing decentralized finance space. The validator is designed to support the Solana network, which is known for its high throughput and low transaction costs, potentially attracting more users and developers to the platform. The launch of a 0%-fee Solana validator represents a significant strategic move that could enhance Forward Industries' competitive positioning in the blockchain sector.
4 Oct
Forward Industries, Inc. (FORD) has integrated with the Solana blockchain and made significant investments in digital assets, aiming to enhance its operational capabilities and market position. This strategic move is expected to leverage blockchain technology for improved efficiency and innovation in product offerings, potentially attracting new investors and customers. The integration aligns with current trends in digital assets, positioning FORD to capitalize on emerging opportunities in the tech landscape. The integration with Solana and investment in digital assets represent a significant strategic shift that could enhance Forward Industries' competitive positioning and market appeal.
22 Sep
Forward Industries, Inc. (FORD) plans to tokenize its $1.65 billion stock on the Superstate platform, leveraging blockchain technology to enhance liquidity and accessibility for investors. This move is part of a broader trend in the financial sector towards digital assets and tokenization, aiming to attract a wider range of investors and streamline trading processes. The initiative is expected to position Forward Industries at the forefront of innovation in the investment landscape. Tokenizing a significant stock value represents a major strategic move that could enhance liquidity and attract new investors.
Forward Industries, Inc. (FORD) is set to launch its NASDAQ stock on the Solana blockchain through the Superstate platform. This move aims to enhance liquidity and accessibility for investors, leveraging blockchain technology to streamline trading processes. The initiative is part of Forward's strategy to innovate and expand its market presence. The integration of NASDAQ stock with blockchain technology is a significant strategic move that could enhance liquidity and investor engagement.
18 Sep
Forward Industries, Inc. (FORD) is seeking to raise $4 billion to acquire additional assets related to Solana, a prominent blockchain platform. This move is part of the company's strategy to expand its presence in the rapidly growing cryptocurrency and blockchain sector. The potential acquisition aims to enhance Forward's portfolio and capitalize on the increasing demand for blockchain technology and applications. The planned acquisition of assets related to Solana could significantly alter Forward Industries' strategic direction and market positioning in the blockchain sector.
17 Sep
Forward Industries, Inc. (FORD) is planning a $4 billion at-the-market (ATM) offering aimed at bolstering its treasury focused on Solana, a blockchain platform. This strategic move is intended to enhance the company's financial position and support its initiatives in the cryptocurrency space, particularly with Solana's growing ecosystem. The $4 billion ATM offering represents a significant strategic move that could enhance Forward Industries' financial capabilities and market positioning in the cryptocurrency sector.
Forward Industries, Inc. (FORD) has announced a $4 billion at-the-market (ATM) offering aimed at expanding its Solana treasury. This strategic move is intended to bolster the company's financial resources and enhance its position within the cryptocurrency space, particularly focusing on Solana's ecosystem. The $4 billion ATM offering is a significant strategic move that could greatly enhance Forward Industries' financial position and market presence.
Forward Industries, Inc. has announced a significant $4 billion capital raise, which could potentially double the holdings of Solana Treasury Firm. This move is expected to enhance Forward Industries' financial position and market presence, indicating a strategic shift aimed at growth and expansion. The $4 billion capital raise represents a major strategic move that could significantly alter the company's trajectory and investor sentiment.
Forward Industries, Inc. is collaborating with Metaplanet to enhance treasury strategies involving Bitcoin and Solana. This partnership aims to optimize asset management and investment strategies in the cryptocurrency space, potentially improving financial performance and market positioning for Forward Industries. The collaboration may moderately influence Forward Industries' financial performance and competitive positioning in the evolving cryptocurrency market.