Forward Industries, Inc.
FWDIFinancial ServicesNASDAQAsset Management
Scan Results
Daily timeframeForward Industries, Inc. operates as a Solana (SOL) focused digital asset treasury company. The $518.8M market capitalization puts FWDI squarely in small-cap range for its industry. The company operates through Digital Assets and Design segments.
Market Cap
$518.8M
Beta
0.85
P/E (TTM)
—
P/E (Fwd)
26.15
EPS (TTM)
$-30.27
EPS (Fwd)
$0.26
ROE
-461.4%
ROA
2.1%
Cash
$13.3M
Total Debt
$118.5M
Free CF
$14.8M
52W Change
-59.9%
Annual Financials
Cash vs Debt
Where FWDI stands vs its 150-day and 200-day moving averages
As of the October 16, 2026 close, FWDI finished 39.65% above its 150-day moving average ($5.12) and 33.90% above its 200-day moving average ($5.34). This snapshot is end-of-day data shown with a five-trading-day delay on the free plan; Premium members see readings from the latest close.
Is FWDI overbought or oversold?
At the October 16, 2026 close, FWDI's RSI(14) was 29.4, in oversold territory (below 30). The MACD histogram was negative, so short-term momentum leaned bearish at that close. These readings are historical, refresh daily after market close, and are not investment advice.
On the balance sheet, FWDI has $13.3M in cash with $118.5M in obligations. The ability to service this debt comfortably depends on continued operational cash generation. The company generates $14.8M in free cash flow annually, which funds everything from R&D to shareholder returns without needing external financing. ROE of -461.4% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 2.1% 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.
Forward Industries, Inc. carries a heavier debt load relative to its cash position, which introduces financial risk that investors should weigh. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence Forward Industries, Inc.'s trajectory.