Forward Industries (FORD) AI Stock Analysis

• Market Cap: $15.19M
• Dividend Yield: N/A
• Average Volume (3M): 30.35K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.94
• Revenue Growth: -17.39%
• EPS Growth: 12.45%
• Country: US
• Employees: 100
• Sector: Consumer Cyclical
• Sector Strength: 74
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): -2.14
• Shares Outstanding: 1,125,998
• 10 Day Avg. Volume: 27,996
• 30 Day Avg. Volume: 30,346
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.44
• Enterprise Value/Revenue: 0.27
• Enterprise Value/Gross Profit: 1.55
• Enterprise Value/Ebitda: -2.07
• 1Y Price Target: $6.00
• Price Target Upside: -56.01% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 51 Neutral
• Price Target: $12.00 ▼(-12.02% Downside)

Forward Industries is currently experiencing financial difficulties, as evidenced by declining revenues, negative margins, and a high debt-to-equity ratio. While technical indicators show bullish momentum, caution is advised due to overbought signals. Valuation metrics highlight the negative earnings, suggesting possible overvaluation concerns.

Forward Industries Business Overview & Revenue Model

Company Description

Forward Industries (FORD) is a global design and manufacturing company that specializes in the development of custom carry and protective solutions. The company primarily serves the medical, consumer electronics, and industrial markets. Forward Industries offers a wide range of products, including soft-sided carrying cases, bags, and other accessories designed to enhance the functionality and protection of portable electronic devices and medical equipment.

How the Company Makes Money

Forward Industries makes money through the design, development, and sale of custom carrying solutions and products. Their revenue model is primarily based on contracts and partnerships with original equipment manufacturers (OEMs) and other companies in the medical, consumer electronics, and industrial sectors. The company works closely with its clients to create tailored solutions that meet specific needs, often involving long-term agreements and repeat business. Additionally, Forward Industries may generate revenue through licensing agreements and collaborations that leverage their design expertise and manufacturing capabilities to deliver innovative products to the market.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	30.20M	36.69M	42.34M	39.02M	34.48M
Gross Profit	6.21M	8.36M	8.37M	8.13M	6.64M
EBITDA	-1.53M	598.81K	897.71K	-437.71K	-1.32M
Net Income	-1.95M	-3.74M	-1.38M	523.80K	-1.78M
Balance Sheet
Total Assets	14.77M	17.39M	20.94M	19.86M	19.36M
Cash, Cash Equivalents and Short-Term Investments	3.02M	3.18M	2.58M	1.41M	2.92M
Total Debt	3.43M	4.35M	5.03M	5.50M	7.76M
Total Liabilities	11.80M	14.77M	14.67M	12.41M	12.77M
Stockholders Equity	2.97M	2.62M	6.27M	7.44M	6.58M
Cash Flow
Free Cash Flow	341.97K	904.95K	1.37M	-595.52K	-331.40K
Operating Cash Flow	407.12K	1.04M	1.53M	-528.31K	-262.95K
Investing Cash Flow	-65.15K	-136.08K	-169.63K	-67.21K	-390.06K
Financing Cash Flow	-500.00K	-300.00K	-200.00K	-918.74K	484.82K

Forward Industries Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.64
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

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 13.64 is above the 20-day moving average (MA) of 10.67, above the 50-day MA of 8.28, and above the 200-day MA of 5.91, indicating a bullish trend. The MACD of 1.46 indicates Negative momentum. The RSI at 79.31 is Negative, neither overbought nor oversold. The STOCH value of 93.89 is Negative, 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
RCKY	75 Outperform	$207.64M	11.20	8.05%	2.30%	-0.09%	24.18%
WWW	69 Neutral	$2.19B	26.07	27.52%	1.44%	-2.83%	―
WEYS	64 Neutral	$281.52M	10.95	10.36%	10.39%	-6.39%	-14.72%
Sector *	62 Neutral	AU$3.02B	29.09	4.95%	4.87%	2.19%	-27.19%
FORD	51 Neutral	$15.19M	―	-132.78%	―	-17.39%	12.45%
VRA	43 Neutral	$57.26M	―	-36.91%	―	-24.95%	-1959.79%
AREB	40 Underperform	$8.80M	―	-342.34%	―	-36.78%	28.64%