Forward Industries, Inc.
Description
Forward Industries, Inc., together with its subsidiaries, designs, manufactures, sources, markets, and distributes carry and protective solutions. The company operates in two segments: OEM Distribution and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS location devices, tablets, and firearms. The Design segment provides hardware and software product design and engineering services. The company sells its products to original equipment manufacturers in the United States, China, Germany, Poland, and internationally. Forward Industries, Inc. was incorporated in 1961 and is based in Hauppauge, New York.
About
CEO
Mr. Terence Bernard Wise
Employees
100
Instrument type
Common Stock
Sector
Consumer Cyclical
Industry
Footwear & Accessories
MIC code
XNCM
Address
700 Veterans Memorial Highway, Hauppauge, NY 11788, United States
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Feb 14, 2023 | — | -0.04 | — | — |
| Dec 16, 2022 | — | -0.08 | — | — |
| Aug 10, 2022 | — | -0.04 | — | — |
| May 12, 2022 | — | -0.04 | — | — |
| Feb 10, 2022 | — | 0.02 | — | — |
Earnings estimate
| Number of analysts | — | — | — | — |
|---|---|---|---|---|
| Average estimate | — | — | — | — |
| Low estimate | — | — | — | — |
| High estimate | — | — | — | — |
| Last year EPS | — | — | — | — |
[stock_revenue_estimate]
Growth estimates
Current qtr
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Next qtr.
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Next year
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Next 5 years (per annum)
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Past 5 years (per annum)
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Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
| Total reported revenue | 30.20M | 36.69M | 38.21M | 39.02M | 34.48M |
| Cost of revenue | 23.99M | 28.32M | 29.41M | 30.89M | 27.84M |
| Gross profit | 6.21M | 8.36M | 8.80M | 8.13M | 6.64M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 7.94M | 8.20M | 8.21M | 8.90M | 7.61M |
| Other operating expenses | — | — | — | — | — |
| Operating income | -1.73M | 159,658 | 588,470 | -764,999 | -967,383 |
| Non operating interest income | |||||
| Income | 78,863 | 23,188 | — | 88,760 | 60,932 |
| Expense | 62,662 | 104,201 | 123,411 | 171,957 | 174,962 |
| Other income expense | -208,316 | 100,019 | -12,612 | 1.37M | -684,701 |
| Pretax income | -1.92M | 178,664 | 452,447 | 523,805 | -1.77M |
| Tax provision | 22,947 | 20,006 | 2,554 | — | 9,167 |
| Net income | -1.95M | -3.74M | -1.38M | 523,805 | -1.78M |
| Basic EPS | — | -3.39 | -1.40 | 0.50 | -1.90 |
| Diluted EPS | — | -3.39 | -1.40 | 0.50 | -1.90 |
| Basic average shares | — | 1.10M | 1.01M | 995,009 | 958,344 |
| Diluted average shares | — | 1.10M | 1.01M | 995,009 | 958,344 |
| EBITDA | -1.33M | 528,805 | 885,097 | -353,518 | -654,179 |
| Net income from continuing op. | -1.95M | -3.74M | -1.38M | 523,805 | -1.78M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
| Total assets | 14.77M | 17.39M | 20.94M | 19.86M | 19.36M |
| Current assets | |||||
| Cash | 3.02M | 3.18M | 2.58M | 1.41M | 2.92M |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 3.02M | 3.18M | 2.58M | 1.41M | 2.92M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 5.71M | 6.97M | 7.54M | 8.76M | 7.60M |
| Other receivables | — | — | — | — | — |
| Inventory | 489,996 | 334,384 | 650,853 | 2.06M | 1.28M |
| Prepaid assets | — | — | 417,605 | 561,072 | 419,472 |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | 508,077 | 3.15M | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 426,240 | 378,512 | 417,605 | 561,072 | 419,472 |
| Non current assets | |||||
| Properties | 2.68M | 3.19M | 3.50M | 3.80M | 3.57M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 553,000 | 569,000 | 540,000 | 642,000 | 637,000 |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | 2,000 |
| Accumulated depreciation | -417,000 | -466,000 | -373,000 | -526,000 | -483,000 |
| Goodwill | 3.80M | 4.41M | 4.62M | 4.84M | 5.05M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 680,000 | 893,000 | 1.11M | 1.32M | 1.53M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 72,688 | 68,737 | 68,737 | 72,251 | 116,697 |
| Total liabilities | 11.80M | 14.77M | 14.67M | 12.41M | 12.77M |
| Current liabilities | |||||
| Accounts payable | 129,060 | 518,892 | 268,160 | 391,992 | 197,022 |
| Accrued expenses | 416,000 | 1.16M | 950,000 | 368,000 | 474,000 |
| Short term debt | 1.00M | 416,042 | 377,940 | 340,151 | 3.86M |
| Deferred revenue | 399,439 | 297,407 | 438,878 | 187,695 | 485,078 |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | 197,029 | 200,743 | 228,906 | 186,497 | 186,401 |
| Non current liabilities | |||||
| Long term debt | 2.43M | 3.93M | 4.65M | 5.16M | 3.90M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | 45,000 | 45,000 | 45,000 |
| Shareholders equity | |||||
| Common stock | 11,011 | 11,011 | 100,612 | 100,612 | 98,838 |
| Retained earnings | -19.64M | -17.69M | -13.95M | -12.57M | -13.10M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 2.97M | 2.62M | 6.27M | 7.44M | 6.58M |
| Additional paid in capital | 20.39M | 20.29M | 20.12M | 19.91M | 19.58M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||||||||||||||||||
| Net Income | -1.95M | -3.74M | -1.38M | 523,805 | -1.78M | -3.60M | 1.38M | 579,346 | 606,562 | -1.43M | -799,906 | -206,886 | -9.63M | -2.90M | -1.68M | -1.39M | -889,249 | -553,459 | 1.54M | 9.43M | 1.94M | 1.45M | 855,592 | -1.98M | 92,090 | 1.10M | -1.10M | 200,000 | -1.10M | -900,000 |
| Depreciation | 332,660 | 315,940 | 309,239 | 327,290 | 271,973 | 311,581 | 228,189 | 22,372 | 52,754 | 53,445 | 64,482 | 75,188 | 103,973 | 74,307 | 53,602 | 75,585 | 64,782 | 89,955 | 102,662 | 123,850 | 118,383 | 133,283 | 128,090 | 135,995 | 154,557 | 100,000 | 200,000 | 200,000 | 200,000 | 300,000 |
| Deferred Taxes | — | — | — | — | — | — | -747,000 | — | — | — | — | — | — | — | — | 409,130 | -99,491 | -226,639 | 132,647 | 470,965 | -391,612 | -210,000 | -180,000 | 1.34M | 70,027 | 300,000 | 300,000 | 100,000 | -900,000 | -200,000 |
| Stock-Based Compensation | 101,360 | 86,491 | 201,235 | 68,855 | 245,154 | 215,734 | 289,853 | 155,013 | 236,070 | 69,751 | 232,700 | 436,422 | 175,271 | 376,858 | 268,718 | 194,357 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | — | -70,000 | — | -20,000 | -334,000 | 312,013 | -484,741 | -11,973 | -17,437 | -14,649 | 93,752 | 74,492 | 817,573 | 11,525 | -1.66M | -16,416 | 397,032 | 779,093 | 270,637 | — | — | — | — | — | — | 200,000 | -100,000 | -200,000 | — | 300,000 |
| Accounts Receivable | 1.24M | 495,102 | 953,137 | -1.66M | -733,228 | 263,806 | -587,626 | -1.35M | 589,706 | 670,742 | -1.74M | 2.86M | -3.69M | 725,841 | -1.37M | 376,690 | 495,597 | 1.93M | 6.63M | -9.12M | -149,474 | -779,169 | -139,525 | -478,976 | 2.68M | -1.80M | — | -100,000 | -500,000 | 100,000 |
| Accounts Payable | -389,832 | 250,732 | — | — | 245,679 | -975,265 | 574,936 | 243,775 | — | — | 2.32M | -2.42M | 3.04M | — | 615,182 | -382,539 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 462,707 | 2.85M | -1.44M | -990,542 | 717,102 | -136,553 | 240,096 | 312,080 | 269,860 | -491,627 | -324,596 | 1.72M | -2.64M | -63,042 | -386,197 | 775,921 | -977,382 | 370,762 | -2.34M | 2.82M | -233,877 | 462,947 | 115,987 | -173,398 | -777,262 | 100,000 | 900,000 | 100,000 | 600,000 | -600,000 |
| Operating Cash Flow | -199,938 | 187,177 | -1.35M | -1.76M | -1.36M | -3.61M | 893,027 | -53,527 | 1.74M | -1.15M | -156,830 | 2.55M | -11.83M | -1.78M | -4.16M | 38,603 | -1.01M | 2.39M | 6.34M | 3.73M | 1.28M | 1.05M | 780,144 | -1.15M | 2.22M | — | 200,000 | 300,000 | -1.70M | -1.00M |
| Investing Activities | ||||||||||||||||||||||||||||||
| Capital Expenditures | -65,154 | -136,082 | -169,631 | -67,207 | -68,456 | -33,138 | -55,881 | — | -48,121 | -33,189 | -33,485 | -74,187 | -72,467 | -276,633 | -8,566 | -124,958 | -28,992 | -60,515 | -48,900 | -107,653 | -124,103 | -57,474 | 146,305 | -66,702 | -260,154 | -300,000 | 1.10M | -100,000 | -100,000 | -200,000 |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | -321,604 | — | -1.33M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | -10,898 | -5.78M | -88.63M | -444,349 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | 952,127 | 5.57M | 87.28M | 1.00M | — | — | — | — | — | 75,034 | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | -65,154 | -136,082 | -169,631 | -67,207 | -390,060 | -33,138 | -1.39M | — | -48,121 | 908,040 | -250,655 | -1.43M | 483,184 | -1.77M | -8,566 | -124,958 | -28,992 | -60,515 | 26,134 | -107,653 | -124,103 | -57,474 | 250,223 | 373,023 | -383,929 | — | 1.50M | — | 300,000 | 200,000 |
| Financing Activities | ||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | — | — | — | — | 1.36M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -500,000 | -300,000 | -200,000 | -1.34M | -1.30M | -824,186 | -1.82M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | — | — | — | — | -500,000 | — | -500,000 | — | — | -1.29M | — | — | — | — | — | 13,948 | — | — | — | 256,363 | — | — | — | — | -9,161 | -100,000 | -200,000 | 100,000 | -300,000 | -700,000 |
| Financing Cash Flow | -500,000 | -300,000 | -200,000 | -2.34M | -747,180 | 125,814 | -1.32M | — | -1,667 | -2.61M | -123,677 | -14,527 | — | — | 67,000 | 13,948 | 38,500 | -139,148 | 87,659 | 3.80M | 384,050 | 146,271 | — | -326,186 | -63,693 | — | 200,000 | 600,000 | 2.80M | 100,000 |
| Other Cash Details | ||||||||||||||||||||||||||||||
| End Cash Position | 3.02M | 3.18M | 2.58M | 1.41M | 2.92M | 3.09M | 4.37M | 4.62M | 4.76M | 4.04M | 6.48M | 6.62M | 4.61M | 14.91M | 18.47M | 20.10M | 19.86M | 20.27M | 18.61M | 15.29M | 4.49M | 2.13M | 1.21M | 1.38M | 840,532 | 1.20M | 700,000 | — | — | — |
| Income Tax Paid | 7,069 | 10,271 | 10,856 | 8,389 | 4,854 | — | 2,690 | — | — | — | 6,449 | 5,962 | — | 514 | — | 26,283 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 62,662 | 104,201 | 123,411 | 154,510 | 178,114 | 201,004 | 115,444 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 341,968 | 904,946 | 1.37M | -595,518 | -331,402 | -2.00M | 900,604 | -137,639 | 720,163 | -2.06M | 200,984 | 2.18M | -10.86M | -2.07M | -1.70M | 227,128 | -443,865 | 1.80M | 3.15M | 7.00M | 1.98M | 854,692 | 1.09M | -709,583 | 453,245 | 300,000 | -1.20M | 200,000 | -3.50M | -700,000 |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 10,128 | 66,034 | 0.92% |
| Fidelity Extended Market Index Fund | Nov 30, 2024 | 2,460 | 16,039 | 0.22% |
| Fidelity Series Total Market Index Fund | Nov 30, 2024 | 382 | 2,490 | 0.03% |
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