Forward Industries, Inc. (FWDI)
NASDAQ:FWDI
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FWDI Stock Chart & Stats
$6.95
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Market closed
$6.95
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Day’s Range― - ―
52-Week Range$3.62 - $46.00
Previous CloseN/A
VolumeN/A
Average Volume (3M)1.12M
Market Cap
$307.68M
Enterprise Value$382.12M
Total Cash (Recent Filing)$16.63M
Total Debt (Recent Filing)$52.99M
Price to Earnings (P/E)―
Beta-0.54
Next Earnings
Dec 17, 2026EPS EstimateN/A
Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-11.15
Shares Outstanding74,679,700
10 Day Avg. Volume1,140,402
30 Day Avg. Volume1,122,040
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.18
Price to Sales (P/S)95.48
P/FCF Ratio-383.52
Enterprise Value/Market Cap1.24
Enterprise Value/Revenue8.52
Enterprise Value/Gross Profit12.67
Enterprise Value/Ebitda-2.48
Forecast
1Y Price Target
$8.00Price Target Upside15.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-5.6
Revenue Forecast (FY)$71.70M
Bulls Say, Bears Say
Bulls Say
Revenue Growth & Margin ExpansionA pivot to staking-driven revenue produced a large top-line rebound and a sustained gross margin near 70%. Higher margin income from staking is structurally different than low-margin product sales and can underpin durable profitability if staking volumes and yields persist.
SOL-per-share Compounding & Validator ScaleMeaningful SOL holdings and being the 8th-largest validator creates scalable, compounding economic exposure. Growing SOL-per-share via staking rewards and share repurchases is a repeatable accretion mechanic that can compound shareholder value over months if staking yields and on-chain economics remain intact.
Yield Diversification Via ONyc/OnRe DeploymentsAllocations into USD-denominated, yield-bearing tokens and selective venture investments provide recurring, non-correlated income beyond staking. These deployments diversify revenue sources and, if yields persist, offer durable cash-like returns that support SOL-per-share accretion and reduce sole reliance on token price appreciation.
Bears Say
GAAP P&L Volatility From Crypto Fair ValueFair-value accounting for crypto holdings creates massive non-cash swings in operating income, obscuring operating trends and complicating stakeholder assessment of performance. Persisting volatility can impair credit access, trigger covenant stress and make long-term planning and hiring more difficult.
Weak Cash Flow And Reduced LiquiditySustained negative operating and free cash flow and a materially lower cash balance limit flexibility. Continued cash burn forces reliance on asset-backed debt and on-chain yield investments to fund buybacks or operations, increasing refinancing and liquidity risk over the medium term.
Legal, Governance & Regulatory ScrutinyActive takeover approaches, accusations of acting with undisclosed parties, and evolving crypto regulation raise governance and legal uncertainty. These dynamics can divert management, increase compliance costs, and create the risk of enforcement or shareholder litigation that affect strategic execution and capital allocation.
Forward Industries News
FWDI FAQ
What was Forward Industries, Inc.’s price range in the past 12 months?
Forward Industries, Inc. lowest stock price was $3.62 and its highest was $46.00 in the past 12 months.
What is Forward Industries, Inc.’s market cap?
Forward Industries, Inc.’s market cap is $307.68M.
When is Forward Industries, Inc.’s upcoming earnings report date?
Forward Industries, Inc.’s upcoming earnings report date is Dec 17, 2026 which is in 175 days.
How were Forward Industries, Inc.’s earnings last quarter?
Forward Industries, Inc. released its earnings results on May 14, 2026. The company reported -$2.98 earnings per share for the quarter, missing the consensus estimate of $0.08 by -$3.06.
Is Forward Industries, Inc. overvalued?
According to Wall Street analysts Forward Industries, Inc.’s price is currently Undervalued.
Does Forward Industries, Inc. pay dividends?
Forward Industries, Inc. does not currently pay dividends.
What is Forward Industries, Inc.’s EPS estimate?
Forward Industries, Inc.’s EPS estimate for its next earnings report is not yet available.
How many shares outstanding does Forward Industries, Inc. have?
Forward Industries, Inc. has 74,679,700 shares outstanding.
What happened to Forward Industries, Inc.’s price movement after its last earnings report?
Forward Industries, Inc. reported an EPS of -$2.98 in its last earnings report, missing expectations of $0.08. Following the earnings report the stock price went down -11.637%.
Which hedge fund is a major shareholder of Forward Industries, Inc.?
Currently, no hedge funds are holding shares in FWDI
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Forward Industries Stock Smart Score
Underperform
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Analyst Consensus
Moderate Buy
Average Price Target:
$8.00 (15.11% Upside)
$8.00 (15.11% Upside)
Blogger Sentiment
Bullish
FWDI Sentiment 70%
Sector Average 66%
Sector Average 66%
Hedge Fund Trend
Increased
By 14.0K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Bought Shares
Worth $2.1K over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.0%
Last 30 Days ▼ 4.1%
Last 30 Days ▼ 4.1%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-29.93%
12-Months-Change
Fundamentals
Return on Equity
-142.27%
Trailing 12-Months
Asset Growth
4831.90%
Trailing 12-Months
Company Description
Forward Industries, Inc.
Forward Industries, Inc. (FWDI) specializes in the design, marketing, and distribution of protective and carrying solutions, primarily for handheld electronic devices. The company operates through three main segments: OEM Distribution: This division is responsible for sourcing and supplying carrying cases and complementary accessories for a wide range of items. These include medical monitoring and diagnostic kits, as well as various portable electronic and non-electronic products like sporting and recreational equipment, bar code scanners, GPS devices, tablets, and firearms. Retail Distribution: Through this segment, FWDI procures and sells smart-enabled furniture along with other products. These are distributed via agreements with various retailers, available both in physical stores and on online retail websites. Design: This segment offers specialized hardware and software product design and engineering services. Forward Industries sells its products to original equipment manufacturers (OEMs) across several global regions, including Asia-Pacific, the Americas, Europe, the Middle East, and Africa. The company was founded in 1961 and is headquartered in Hauppauge, New York.
FWDI Company Deck
FWDI Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presented strong operational and strategic progress: material revenue and margin improvement driven by staking, meaningful SOL-per-share compounding, low-cost non-dilutive financing, an accretive share buyback, a targeted diversification into USD-denominated yield via OnRe/ONyc, and an active cost-reduction program. These positives are balanced against significant non-cash GAAP impairments and fair-value losses driven by SOL price declines, a reduction in cash following substantial buybacks, and newly assumed leverage ($40M facility). Management framed the large accounting losses as fair-value volatility rather than operational failure and highlighted durable strategic positioning in the Solana ecosystem. On balance, the operational momentum, accretion mechanics and diversification initiatives materially outweigh short-term accounting and liquidity headwinds, though the GAAP volatility and cash/debt mix remain important risks to monitor.View all FWDI earnings summariesFWDI Stock 12 Month Forecast
Average Price Target
$8.00
▲(15.11% Upside)
Ownership Overview
7.40% Insiders
0.99% Mutual Funds
22.78% Other Institutional Investors
67.40% Public Companies and
Individual Investors
Options Prices
Currently, No data available
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