FWDI — Stock Film
STOCK FILMSCENE 1/12FWDI · $6.61
Stock Expert AI presents
FWDI
Forward Industries, Inc
~5 min film100% real numbersplain English
WHAT DOES THIS COMPANY DO?
Forward Industries, Inc. What it actually does.

Designs and markets carry and protective solutions for handheld electronic devices. Operates through three segments: OEM Distribution, Retail Distribution, and Design. Now — the numbers.

on the stock market since 1994
60 employees
$487.1M market value
WHERE DOES THE MONEY COME FROM?
66%Design
DesignOEM Distribution 34%
66% of all revenue comes from a single line: Design.

That much dependence is a risk in itself: if this one line weakens, the whole company feels it directly.

Revenue last year:
$18.2M
The loss that same year:
$167M
For every $1 it earns, the company spends $10.

The company closed last year at a loss: costs ran above sales. The picture changes only if spending is reined in.

THE SALES TREND
Sales have been shrinking.

An average decline of 17% a year over the last 4 years — the most striking risk in this picture. Red columns mark years that ended in a loss.

$39M
2021
2022
2023
2024
$18.2M
2025
In the vault right now:
$38.2M
DEBT: $2.5M
At this pace, that money lasts less than a year.

Before the clock runs out, either sales must climb sharply or new money must come in. This is the most critical line in the whole picture.

THE PRICE TAG
MARKET VALUE / ANNUAL SALES
26.8×

This company is not turning a profit, so the market is pricing its sales instead: 26.8× for every dollar of annual revenue.

Against companies in its own sector, it looks cheaper than 5% of them.

Analysts' average target sits 142% above today's price.

What executives did with their own stock over the last 12 months:
22 buy0 sell

Executives buying with their own money is usually read as confidence in the company’s future.

THE FIVE-YEAR JOURNEY
A big climb, then a hard fall.

An investor who bought at the very peak is down 83% today. The business is the same; what changed most is the price — and the expectations — the market pins on it.

1
THE BRIGHT SIDE · 1/1
Executives are buying their own stock

Over the last 12 months, company executives reported 22 buys and 0 sells. Management buying with its own money is usually read as a good sign.

1
THE RISKS · 1/2
Small sales, big loss

A loss of $167.0M against $18.2M in annual sales. And on top of that, sales fell from the year before.

2
THE RISKS · 2/2
The cash has a countdown

At the current pace of spending, the cash lasts less than a year. After that, the company needs to find new money.

FINALE · THE GRADE
F
15 / 100 · MoonshotScore

On our five-subject report card, FWDI sits behind the class. A low grade doesn’t mean “doomed” — it means “big claim, small proof.”

The takeaway: FWDI’s sales are going backwards, and it closed last year at a loss. The road back runs through both.

Analysts’ average target sits above today’s price, yet the valuation grade (5/100) says the stock isn’t cheap.

What would you like to do next?
Open the stock page →

Not covered, because the filings we hold do not carry it: earnings execution.

This was a film — not investment advice.
Data: FMP & company filings
Sep 11, 2026 · stockexpertai.com · Stock Film