Forward Industries (FORD) AI Stock Analysis

• Market Cap: $8.65M
• Dividend Yield: N/A
• Average Volume (3M): 62.32K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.91
• Revenue Growth: -10.21%
• EPS Growth: 41.17%
• Country: US
• Employees: 100
• Sector: Consumer Cyclical
• Sector Strength: 61
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): -2.14
• Shares Outstanding: 1,101,069
• 10 Day Avg. Volume: 33,564
• 30 Day Avg. Volume: 62,320
• PEG Ratio: 0.22
• Price to Book (P/B): 3.56
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -47.76
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

Forward Industries' stock score is primarily impacted by its weak financial performance, marked by declining revenues, negative margins, and high leverage. While technical indicators show positive momentum, the valuation reflects ongoing losses, creating a mixed outlook. Investors should be cautious, considering the financial difficulties despite current market trends.

Forward Industries Business Overview & Revenue Model

Company Description

Forward Industries, Inc., together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for handheld electronic devices. The company operates in three segments: OEM Distribution, Retail Distribution, and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS devices, tablets, and firearms. The Retail Distribution segment sources and sells smart-enabled furniture and a range of other products through agreements with various retailers, including in stores and online retailer websites. The Design segment provides hardware and software product design and engineering services. The company sells its products to original equipment manufacturers in the Asia-Pacific, the Americas, Europe, the Middle East, and Africa. Forward Industries, Inc. was incorporated in 1961 and is headquartered in Hauppauge, New York.

How the Company Makes Money

Forward Industries makes money through the design, development, and sale of custom carry and protective solutions. Its revenue model is based on creating tailored products for original equipment manufacturers (OEMs) and original design manufacturers (ODMs). The company generates revenue by leveraging its expertise in materials and design to create solutions that meet the unique specifications of its clients' products. A significant portion of its earnings comes from partnerships with leading manufacturers in the consumer electronics and medical sectors, enabling it to secure steady contracts and long-term business relationships. Revenue streams are primarily derived from product sales and, to some extent, through licensing agreements or design services.

Forward Industries Financial Statement Overview

Summary

Forward Industries is facing significant financial challenges, with declining revenues, negative profitability margins, and a leveraged balance sheet. The combination of these factors suggests potential liquidity and operational risks that need addressing to improve financial health.

Income Statement

The company's income statement reveals declining revenue with a significant drop from the previous year, alongside worsening net losses. The gross profit margin stands at approximately 20.28% TTM, indicating some control over production costs. However, both EBIT and EBITDA margins are negative, reflecting operational inefficiencies and significant losses. The revenue growth rate has been negative, indicating a concerning trend in sales performance.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 1.26 TTM, which may pose financial risks. Stockholders' equity has decreased, affecting the equity ratio, which is around 16.89% TTM, indicating a leveraged position. The return on equity is negative due to the net loss, highlighting challenges in generating returns for shareholders.

Cash Flow

Operating cash flow has turned negative TTM, signaling potential liquidity issues. The free cash flow to net income ratio is unfavorable, and free cash flow growth has also decreased. These factors underscore challenges in cash generation and sustainability.

Breakdown
TTM	Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020
Income Statement		Total Revenue
29.66M	30.20M	36.69M	42.34M	39.02M	34.48M
	Gross Profit
6.01M	6.21M	8.36M	8.37M	8.13M	6.64M
	EBIT
-2.26M	-1.93M	159.66K	-1.24M	-765.00K	-967.38K
	EBITDA
-1.86M	-1.53M	598.81K	897.71K	-437.71K	-1.32M
	Net Income Common Stockholders
-2.30M	-1.95M	-3.74M	-1.38M	523.80K	-1.78M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.61M	3.02M	3.18M	2.58M	1.41M	2.92M
	Total Assets
13.49M	14.77M	17.39M	20.94M	19.86M	19.36M
	Total Debt
3.48M	3.43M	4.35M	5.03M	5.50M	7.76M
	Net Debt
873.83K	411.35K	1.17M	2.45M	4.09M	4.84M
	Total Liabilities
11.21M	11.80M	14.77M	14.67M	12.41M	12.77M
	Stockholders Equity
2.28M	2.97M	2.62M	6.27M	7.44M	6.58M
Cash Flow		Free Cash Flow
-169.91K	341.97K	904.95K	1.37M	-595.52K	-331.40K
	Operating Cash Flow
-118.85K	407.12K	1.04M	1.53M	-528.31K	-262.95K
	Investing Cash Flow
-51.06K	-65.15K	-136.08K	-169.63K	-67.21K	-390.06K
	Financing Cash Flow
-250.00K	-500.00K	-300.00K	-200.00K	-918.74K	484.82K

Forward Industries Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.86
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FORD, the sentiment is Positive. The current price of 7.86 is above the 20-day moving average (MA) of 6.42, above the 50-day MA of 5.16, and above the 200-day MA of 4.57, indicating a bullish trend. The MACD of 0.79 indicates Negative momentum. The RSI at 63.88 is Neutral, neither overbought nor oversold. The STOCH value of 63.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FORD.

Forward Industries Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WEYS	71 Outperform	$291.48M	9.72	11.76%	3.19%	-5.46%	-1.09%
RCKY	70 Outperform	$140.34M	10.22	5.97%	3.04%	-2.01%	2.08%
WWW	68 Neutral	$1.24B	17.24	25.29%	2.62%	-13.05%	―
Sector *	61 Neutral	$6.69B	11.69	3.01%	3.94%	2.60%	-21.51%
FORD	54 Neutral	$8.65M	―	-99.06%	―	-10.21%	41.17%
VRA	41 Neutral	$48.30M	―	-28.34%	―	-20.99%	-976.24%
AREB	38 Underperform	$6.66M	―	-342.34%	―	-28.62%	32.84%