Forward Industries (FORD) AI Stock Analysis

• Market Cap: $8.83M
• Dividend Yield: N/A
• Average Volume (3M): 17.72K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.88
• Revenue Growth: -17.39%
• EPS Growth: 12.45%
• Country: US
• Employees: 100
• Sector: Consumer Cyclical
• Sector Strength: 60
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): -2.14
• Shares Outstanding: 1,125,998
• 10 Day Avg. Volume: 29,749
• 30 Day Avg. Volume: 17,723
• PEG Ratio: 0.03
• Price to Book (P/B): 2.14
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 9.80
• Enterprise Value/Market Cap: 1.04
• Enterprise Value/Revenue: 0.08
• Enterprise Value/Gross Profit: 2.12
• Enterprise Value/Ebitda: -1.25
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 49 Neutral
• Price Target: $8.00 ▲(2.04%Upside)

The overall stock score reflects significant financial weaknesses, with declining revenues and negative profitability margins. Despite positive short-term technical momentum, the company's financial health and valuation concerns dominate the risk profile.

Forward Industries Business Overview & Revenue Model

Company Description

Forward Industries (FORD) is a designer and distributor of custom carry and protective solutions. The company primarily operates in the consumer electronics sector, providing a range of cases and protective solutions for mobile devices, medical equipment, and other electronic devices. Forward Industries focuses on delivering high-quality, tailor-made products that meet the specific needs of OEMs and ODMs, thereby ensuring the protection and functionality of their devices.

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	24.95M	30.20M	36.69M	42.34M	39.02M	34.48M
Gross Profit	4.33M	6.21M	8.36M	8.37M	8.13M	6.64M
EBITDA	-3.24M	-1.53M	598.81K	897.71K	-437.71K	-1.32M
Net Income	-3.20M	-1.95M	-3.74M	-1.38M	523.80K	-1.78M
Balance Sheet
Total Assets	12.34M	14.77M	17.39M	20.94M	19.86M	19.36M
Cash, Cash Equivalents and Short-Term Investments	1.80M	3.02M	3.18M	2.58M	1.41M	2.92M
Total Debt	2.77M	3.43M	4.35M	5.03M	5.50M	7.76M
Total Liabilities	8.76M	11.80M	14.77M	14.67M	12.41M	12.77M
Stockholders Equity	3.58M	2.97M	2.62M	6.27M	7.44M	6.58M
Cash Flow
Free Cash Flow	24.08K	341.97K	904.95K	1.37M	-595.52K	-331.40K
Operating Cash Flow	55.65K	407.12K	1.04M	1.53M	-528.31K	-262.95K
Investing Cash Flow	-31.57K	-65.15K	-136.08K	-169.63K	-67.21K	-390.06K
Financing Cash Flow	-150.00K	-500.00K	-300.00K	-200.00K	-918.74K	484.82K

Forward Industries Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.84
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• 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 7.84 is above the 20-day moving average (MA) of 6.41, above the 50-day MA of 6.82, and above the 200-day MA of 5.11, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 67.37 is Neutral, neither overbought nor oversold. The STOCH value of 80.42 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	72 Outperform	$177.13M	12.92	5.97%	2.61%	-2.01%	2.08%
WEYS	70 Outperform	$325.87M	11.21	11.76%	3.17%	-5.46%	-1.09%
WWW	68 Neutral	$1.62B	22.49	25.29%	2.01%	-13.05%	―
Sector *	61 Neutral	AU$2.83B	27.14	4.84%	5.11%	2.60%	-31.70%
VRA	50 Neutral	$71.79M	―	-36.91%	―	-24.95%	-1959.79%
FORD	49 Neutral	$8.83M	―	-132.78%	―	-17.39%	12.45%
AREB	37 Underperform	$8.73M	―	-342.34%	―	-36.78%	28.64%