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$4.03 - $46.00
Previous CloseN/A
VolumeN/A
Average Volume (3M)959.96K
Market Cap
$350.99M
Enterprise Value$337.32M
Total Cash (Recent Filing)$16.63M
Total Debt (Recent Filing)$2.96M
Price to Earnings (P/E)―
Beta-0.71
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. Volume1,032,095
30 Day Avg. Volume959,958
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 Cap0.96
Enterprise Value/Revenue7.52
Enterprise Value/Gross Profit11.19
Enterprise Value/Ebitda-2.19
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
SOL Staking & HoldingsForward's large, actively staked SOL treasury and validator scale create a recurring, protocol-native revenue stream and compounding per-share economics. Staking yields (~6.5–7.2%) and validator scale (>6.9M SOL, 8th largest) support durable operational cash inflows and strategic optionality over quarters.
High Gross Margin & Revenue ReboundA sharp top-line rebound driven by staking and unusually high gross margins indicate the business can convert digital-asset operations into high-margin revenue. If sustained, this margin profile improves operating leverage and makes cost-reduction initiatives more effective at generating lasting profitability.
Low Headline Leverage TodayCurrent low headline leverage provides financial flexibility to pursue strategic initiatives (buybacks, selective deployments) and absorbs volatility. While historical swings exist, a conservative balance-sheet posture today reduces short-term solvency risk and supports operational resilience over the coming quarters.
Bears Say
GAAP Volatility From SOLFair-value accounting on digital assets produces outsized, non-cash GAAP losses that can overwhelm underlying operational results. Persistent SOL price swings will continue to generate large P&L volatility, complicating performance assessment, capital-raising prospects, and management execution over multiple quarters.
Negative Cash GenerationSustained negative operating and free cash flow erodes liquidity and increases dependence on external financing. Even with high margins, recurring cash burn and reduced cash balances limit runway for investments or stress absorption and make the company vulnerable if market access tightens or yields decline.
Concentration & Regulatory/security RiskDeep strategic concentration in the Solana ecosystem exposes the company to protocol-level security incidents, custody risks, and shifting regulatory interpretations. These structural risks can increase compliance costs, constrain partnerships, and materially affect operations and depositor/investor confidence over the medium term.
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 $4.03 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 $350.99M.
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 198 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 ―
Sector Average ―
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 ▼ 1.1%
Last 30 Days ▼ 5.8%
Last 30 Days ▼ 5.8%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-34.94%
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., 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.
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
67.49% Public Companies and
Individual Investors
Options Prices
Currently, No data available
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