{ "ok": true, "cik": "38264", "ticker": "FWDI", "name": "FORWARD INDUSTRIES, INC.", "filings": [ { "form": "8-K", "filed": "2026-09-15", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/38264/000168316826007172/0001683168-26-007172-index.htm" }, { "form": "8-K", "filed": "2026-08-12", "items": [ "2.02 Results of Operations and Financial Condition", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/38264/000168316826006277/0001683168-26-006277-index.htm" }, { "form": "10-Q", "filed": "2026-08-12", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/38264/000168316826006270/0001683168-26-006270-index.htm" }, { "form": "8-K", "filed": "2026-07-20", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/38264/000168316826005625/0001683168-26-005625-index.htm" }, { "form": "8-K", "filed": "2026-06-16", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/38264/000168316826004852/0001683168-26-004852-index.htm" }, { "form": "8-K", "filed": "2026-06-16", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/38264/000168316826004847/0001683168-26-004847-index.htm" } ], "events12m": 19, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000038264.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=38264" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up FORWARD INDUSTRIES, INC. ($FWDI). Last filing: 8-K (7.01 Regulation FD Disclosure), 2026-09-15. 19 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2025-03-31.", "auditor": { "changes": [ { "filed": "2025-03-31", "url": "https://www.sec.gov/Archives/edgar/data/38264/000168316825002108/0001683168-25-002108-index.htm" } ], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-09-30", "revenue": 18187525, "revenueGrowth1y": -0.38583541026205737, "revenueGrowthPerYear": -0.17374132771200002, "yearsOfData": 5, "operatingMargin": -0.4614382660642391, "operatingMarginPrior": -0.07263992785977771, "netMargin": -9.180707105557243, "operatingCashFlow": -4502087, "capitalSpending": 25774, "freeCashFlow": -4527861, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 38166973, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2021-09-30", "revenue": 39021996 }, { "fiscalYearEnd": "2022-09-30", "revenue": 38206958 }, { "fiscalYearEnd": "2023-09-30", "revenue": 36688307 }, { "fiscalYearEnd": "2024-09-30", "revenue": 29613438 }, { "fiscalYearEnd": "2025-09-30", "revenue": 18187525 } ], "totalEquity": 1470124867, "totalAssets": 1474942489, "equityRatio": 0.9967336882380639, "returnOnEquity": -0.11357833864869929, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "range80": { "low": 9309918.24050302, "high": 16717005.392199049, "baseline": 12685540.59204663, "n": 749, "band": "b00" }, "ifPaceHeld": { "low": 9309918.24050302, "high": 16717005.392199049 } }, "edgarette": "🔖 Exposure: revenue $18.2M (FY2025). Experience: revenue down 38.6% on the year, down 17.4% a year over 4 years; operating margin -46.1%, down from -7.3%. Soundness: equity 99.7% of assets, return on equity -11.4%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $9.3M and $16.7M next year (method v3, set from 749 SEC company-years; on a year the method never saw, 83% landed inside). A range, not a forecast. Against peers (36 filers, $50M+ revenue, finance services): operating margin -46.1% against a -6.4% median; growth -38.6% against 16.8%.", "peers": { "sic": 6199, "sicDescription": "Finance Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6199", "growth": [ 0.1678, 51 ], "opMargin": [ -0.0639, 36 ], "equityRatio": [ 0.4195, 46 ], "returnOnEquity": [ -0.0512, 41 ] }, "summary": "Forward Industries (FWDI) saw revenue fall 38.6% in FY2025 to $18 million, operating margin -46.1% against a -6.4% median for finance services, equity 99.7% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
FORWARD INDUSTRIES, INC. against its own record and its peers
Operating marginPeer median -6.4%-46.1%Revenue, on the yearPeer median 16.8%-38.6%Equity of assetsPeer median 41.9%99.7%Return on equityPeer median -5.1%-11.4%Gold tick: the median of 41–46 peers with $50M+ revenue in finance services
", "chartHorizon": null, "backtest": { "tests": 8, "hits": 6, "rate": 0.75, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T15:18:27.106Z", "hash": "911d4274622230dc", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Forward Industries (FWDI) saw revenue fall 38.6% in FY2025 to $18 million, operating margin -46.1% against a -6.4% median for finance services, equity 99.7% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-09-30", "revenue": 18187525, "totalDebt": null, "cash": 38166973 }, "experience": { "revenueGrowth1y": -0.38583541026205737, "revenueGrowthPerYear": -0.17374132771200002, "operatingMargin": -0.4614382660642391, "operatingMarginPrior": -0.07263992785977771, "netMargin": -9.180707105557243, "freeCashFlow": -4527861 }, "soundness": { "equityRatio": 0.9967336882380639, "returnOnEquity": -0.11357833864869929, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6199, "sicDescription": "Finance Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6199", "growth": [ 0.1678, 51 ], "opMargin": [ -0.0639, 36 ], "equityRatio": [ 0.4195, 46 ], "returnOnEquity": [ -0.0512, 41 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": { "filed": "2025-03-31", "url": "https://www.sec.gov/Archives/edgar/data/38264/000168316825002108/0001683168-25-002108-index.htm" } }, "range": { "low": 9309918.24050302, "high": 16717005.392199049, "baseline": 12685540.59204663, "coverage": 0.8, "method": "v3", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); range = 10th to 90th percentile of how SEC company-years of the same size band actually turned out", "calibratedOn": { "companyYears": 749, "sizeBand": "b00" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 8, "hits": 6, "rate": 0.75, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T15:18:27.106Z", "hash": "911d4274622230dc", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000038264.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=38264" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }