Forward Industries, Inc.
FWDIConsumer CyclicalNASDAQFootwear & Accessories · Last scanned Jul 18, 2026
Scan Results
Daily timeframeForward Industries, Inc. operates as a Solana (SOL) focused digital asset treasury company. The company carries a $296.1M market cap, placing it firmly in the micro-cap category. The company operates through Digital Assets and Design segments.
Market Cap
$296.1M
Beta
0.80
P/E (TTM)
—
P/E (Fwd)
18.25
EPS (TTM)
$-29.71
EPS (Fwd)
$0.22
ROE
-373.0%
ROA
1.7%
Cash
$16.6M
Total Debt
$53.0M
Free CF
$8.5M
52W Change
-56.4%
Annual Financials
Cash vs Debt
On the balance sheet, FWDI has $16.6M in cash with $53.0M in obligations. The ability to service this debt comfortably depends on continued operational cash generation. Free cash flow comes in at $8.5M, providing flexibility for reinvestment, buybacks, or dividends. Consistent free cash flow generation is often considered a sign of operational health. ROE of -373.0% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 1.7% is on the lower side, which is common in asset-heavy industries. Revenue has pulled back from $38.2M (2022) to $18.2M (2025), a 52% decline worth watching.
As with any equity investment, FWDI carries market risk, sector-specific risk, and company-specific risk that investors should evaluate in the context of their own portfolios. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence Forward Industries, Inc.'s trajectory.