Forward Industries, Inc. (FWDI) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Total Current Assets | 21.62M | 62.95M | 41.22M | 3.57M | 7.67M | 8.62M | 9.64M | 9.73M | 9.51M | 10.49M | 11.37M | 13.06M | 13.97M | 15.39M | 14.34M | 16.37M | 14.94M | 14.82M | 12.79M | 11.7M |
| Cash & Short-Term Investments | 16.63M | 25.39M | 38.17M | 1.26M | 1.8M | 2.61M | 3.02M | 2.56M | 2.26M | 3.03M | 3.18M | 2.82M | 2.36M | 2.33M | 2.58M | 2.28M | 1.54M | 2.43M | 1.41M | 1.6M |
| Cash Only | 16.63M | 25.39M | 38.17M | 1.26M | 1.8M | 2.61M | 3.02M | 2.56M | 2.26M | 3.03M | 3.18M | 2.82M | 2.36M | 2.33M | 2.58M | 2.28M | 1.54M | 2.43M | 1.41M | 1.6M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.42M | 2.99M | 1.64M | 1.92M | 2.64M | 4.86M | 5.71M | 6.49M | 6.48M | 6.53M | 6.97M | 7.66M | 8.18M | 8.52M | 7.54M | 8.74M | 8.69M | 8.79M | 8.76M | 7.68M |
| Days Sales Outstanding | 18.78 | 9.94 | 20.57 | 83.23 | 108.17 | 105.12 | 76.55 | 74.83 | 75.65 | 86.85 | 132.11 | 71.18 | 70.54 | 68.37 | 76.26 | 74.87 | 76.23 | 69.51 | 69.12 | 64 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 752.97K | 490K | 243.31K | 308.89K | 405.23K | 334.38K | 1.89M | 2.92M | 4.14M | 3.8M | 4.87M | 3.9M | 2.97M | 2.06M | 1.91M |
| Days Inventory Outstanding | - | - | - | - | - | 16.38 | 5.65 | 4 | 5.18 | 6.18 | 51.66 | 26.38 | 34.74 | 41.08 | 48.41 | 46.01 | 38.34 | 25.75 | 20.29 | 23.72 |
| Other Current Assets | 2.57M | 34.56M | 1.42M | 383.54K | 3.22M | 402.81K | 426.24K | 440.04K | 457.07K | 527.89K | 886.59K | 689.96K | 511.02K | 394.34K | 417.61K | 0 | 816.25K | 630.65K | 561.07K | 215K |
| Total Non-Current Assets | 586.89M | 830M | 1.43B | 4.73M | 4.67M | 4.87M | 5.12M | 5.5M | 5.68M | 5.85M | 6.02M | 6.18M | 6.32M | 6.47M | 6.6M | 6.86M | 7.03M | 7.15M | 7.06M | 7.23M |
| Property, Plant & Equipment | 2.8M | 2.29M | 2.43M | 2.57M | 2.69M | 2.83M | 2.81M | 2.94M | 3.07M | 3.18M | 3.3M | 3.41M | 3.49M | 3.59M | 3.67M | 3.87M | 3.99M | 4.06M | 3.91M | 4.03M |
| Fixed Asset Turnover | 5.09x | 9.09x | 3.18x | 0.95x | 1.13x | 1.64x | 2.55x | 2.63x | 2.51x | 2.21x | 1.52x | 2.94x | 3.01x | 2.98x | 2.61x | 2.70x | 2.56x | 2.91x | 2.76x | 2.63x |
| Goodwill | 0 | 0 | 0 | 1.33M | 1.33M | 1.33M | 1.56M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M | 1.76M |
| Intangible Assets | 507.29M | 826.76M | 0 | 521K | 574K | 627.2K | 680K | 733.58K | 786K | 839.95K | 893.14K | 946K | 1M | 1.05M | 1.11M | 1.16M | 1.21M | 1.26M | 1.32M | 1.37M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 76.8M | 949.91K | 1.43B | 303.54K | 68.74K | 72.69K | 72.69K | 68.74K | 68.74K | 68.74K | 68.74K | 68.74K | 68.74K | 68.74K | 68.74K | 72.25K | 72.25K | 72.25K | 72.25K | 72.25K |
| Total Assets | 608.51M | 892.95M | 1.47B | 8.29M | 12.34M | 13.49M | 14.77M | 15.23M | 15.19M | 16.34M | 17.39M | 19.24M | 20.29M | 21.86M | 20.94M | 23.23M | 21.97M | 21.98M | 19.86M | 18.93M |
| Asset Turnover | 0.02x | 0.02x | 0.01x | 0.24x | 0.24x | 0.33x | 0.49x | 0.52x | 0.50x | 0.42x | 0.28x | 0.51x | 0.51x | 0.51x | 0.44x | 0.47x | 0.47x | 0.56x | 0.56x | 0.55x |
| Asset Growth % | 4831.9% | 6518.19% | 9887.18% | -45.53% | -18.78% | -17.45% | -15.06% | -20.88% | -25.12% | -25.23% | -16.97% | -17.15% | -7.67% | -0.54% | 5.46% | 22.7% | 27.76% | 18.11% | 2.58% | 1.56% |
| Total Current Liabilities | 54.58M | 10.08M | 2.72M | 2.35M | 6.45M | 8.79M | 9.37M | 11.3M | 10.8M | 11.31M | 10.84M | 10.59M | 10.91M | 11.47M | 9.98M | 11.3M | 11.04M | 10.59M | 7.21M | 6.13M |
| Accounts Payable | 274.52K | 382.6K | 433.04K | 208.81K | 137.41K | 194.95K | 129.06K | 144.55K | 147.52K | 392.2K | 518.89K | 684.62K | 408.84K | 576.45K | 268.16K | 433.41K | 463.9K | 307.51K | 391.99K | 234.64K |
| Days Payables Outstanding | 7.6 | 8.18 | 9.56 | 5.06 | 4.53 | 4.27 | 2.11 | 2.12 | 3.91 | 7.61 | 27.91 | 5.99 | 4.85 | 4.37 | 3.92 | 4.71 | 4.31 | 3.58 | 3.2 | 3.27 |
| Short-Term Debt | 481.2K | 3.93M | 450.95K | 600K | 600K | 600K | 600K | 600K | 750K | 850K | 416.04K | 406.22K | 396.65K | 387.22K | 377.94K | 415.49K | 1.5M | 1.55M | 341.67K | 29.16K |
| Deferred Revenue (Current) | 612.11K | 720.18K | 292.52K | 309.98K | 355.04K | 278.61K | 399.44K | 205K | 228.83K | 250.41K | 297.41K | 264.73K | 166.4K | 334.59K | 438.88K | 623.39K | 620.57K | 752.88K | 187.69K | 444.44K |
| Other Current Liabilities | 53.21M | 5.05M | 1.55M | 34.01K | 4.48M | 6.77M | 197.03K | 175.48K | 189.49K | 17.79M | 8.03M | 7.8M | 8.78M | 9.33M | 7.56M | 16.68M | 25K | 25K | 5.58M | 0 |
| Current Ratio | 0.40x | 6.24x | 15.14x | 1.51x | 1.19x | 0.98x | 1.03x | 0.86x | 0.88x | 0.93x | 1.05x | 1.23x | 1.28x | 1.34x | 1.44x | 1.45x | 1.35x | 1.40x | 1.78x | 1.91x |
| Quick Ratio | 0.40x | 6.24x | 15.14x | 1.51x | 1.19x | 0.90x | 0.98x | 0.84x | 0.85x | 0.89x | 1.02x | 1.06x | 1.01x | 0.98x | 1.06x | 1.02x | 1.00x | 1.12x | 1.49x | 1.60x |
| Cash Conversion Cycle | - | - | - | - | - | 117.23 | 80.09 | 76.72 | 76.92 | 85.42 | 155.85 | 91.57 | 100.43 | 105.08 | 120.76 | 116.18 | 110.27 | 91.68 | 86.2 | 84.45 |
| Total Non-Current Liabilities | 2.48M | 2M | 2.09M | 2.59M | 2.31M | 2.43M | 2.43M | 2.53M | 2.62M | 2.72M | 3.93M | 4.17M | 4.38M | 4.53M | 4.69M | 4.93M | 3.56M | 3.72M | 5.2M | 5.31M |
| Long-Term Debt | 2.48M | 0 | 2.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.1M | 1.2M | 1.3M | 1.35M | 1.4M | 1.45M | 0 | 0 | 1.6M | 1.6M |
| Capital Lease Obligations | 0 | 2M | 0 | 2.19M | 2.31M | 2.43M | 2.43M | 2.53M | 2.62M | 2.72M | 2.83M | 2.94M | 3.05M | 3.15M | 3.25M | 3.41M | 3.51M | 3.68M | 3.56M | 3.64M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 402.89K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30K | 30K | 30K | 45K | 70K | 45K | 45K | 45K | 70K |
| Total Liabilities | 57.06M | 12.08M | 4.82M | 4.94M | 8.76M | 11.21M | 11.8M | 13.84M | 13.42M | 14.03M | 14.77M | 14.76M | 15.28M | 16M | 14.67M | 16.23M | 14.6M | 14.32M | 12.41M | 11.44M |
| Total Debt | 2.96M | 5.93M | 2.55M | 3.26M | 3.37M | 3.48M | 3.43M | 3.54M | 3.8M | 4M | 4.35M | 4.55M | 4.74M | 4.89M | 5.03M | 5.27M | 5.42M | 5.56M | 5.5M | 5.63M |
| Net Debt | -13.67M | -19.46M | -35.62M | 2M | 1.57M | 873.83K | 411.35K | 984.07K | 1.54M | 972.49K | 1.17M | 1.73M | 2.39M | 2.55M | 2.45M | 3M | 3.88M | 3.13M | 4.09M | 4.02M |
| Debt / Equity | 0.01x | 0.01x | 0.00x | 0.97x | 0.94x | 1.53x | 1.16x | 2.55x | 2.15x | 1.73x | 1.66x | 1.01x | 0.95x | 0.83x | 0.80x | 0.75x | 0.74x | 0.73x | 0.74x | 0.75x |
| Debt / EBITDA | 1.20x | 0.61x | - | - | - | - | - | - | - | - | 2.10x | - | - | - | - | - | - | 19.34x | 217.49x | 16.13x |
| Net Debt / EBITDA | -5.55x | -2.02x | - | - | - | - | - | - | - | - | 0.56x | - | - | - | - | - | - | 10.88x | 161.73x | 11.53x |
| Interest Coverage | 41.24x | - | -12379.63x | -197.72x | -152.95x | -74.02x | -49.75x | -25.09x | -31.16x | -19.05x | 85.07x | -20.07x | -31.52x | -14.39x | -25.64x | -12.77x | -10.55x | 6.48x | -1.54x | 6.32x |
| Total Equity | 551.46M | 880.86M | 1.47B | 3.35M | 3.58M | 2.28M | 2.97M | 1.39M | 1.77M | 2.31M | 2.62M | 4.48M | 5M | 5.86M | 6.27M | 7M | 7.37M | 7.66M | 7.44M | 7.49M |
| Equity Growth % | 15308.95% | 38546.2% | 49448.64% | 140.98% | 102.21% | -1.45% | 13.41% | -68.99% | -64.63% | -60.53% | -58.25% | -35.91% | -32.12% | -23.52% | -15.81% | -6.6% | 3.04% | -2.08% | 13.07% | 21.18% |
| Book Value per Share | 5.81 | 8.89 | 21.65 | 0.30 | 0.33 | 0.21 | 0.27 | 0.13 | 0.18 | 0.23 | 0.26 | 0.45 | 0.50 | 0.58 | 0.62 | 0.70 | 0.73 | 0.74 | 0.71 | 0.71 |
| Total Shareholders' Equity | 551.46M | 880.86M | 1.47B | 3.35M | 3.58M | 2.28M | 2.97M | 1.39M | 1.77M | 2.31M | 2.62M | 4.48M | 5M | 5.86M | 6.27M | 7M | 7.37M | 7.66M | 7.44M | 7.49M |
| Common Stock | 870.7K | 864.64K | 861.46K | 11.26K | 11.01K | 11.01K | 11.01K | 11.01K | 100.61K | 100.61K | 100.61K | 100.61K | 100.61K | 100.61K | 100.61K | 100.61K | 100.61K | 100.61K | 100.61K | 100.31K |
| Retained Earnings | -1.06B | -772.26M | -186.61M | -22.65M | -21.8M | -20.35M | -19.64M | -18.99M | -18.59M | -18.04M | -17.69M | -15.79M | -15.25M | -14.38M | -13.95M | -13.17M | -12.75M | -12.39M | -12.57M | -12.49M |
| Treasury Stock | -58.02M | -10.88M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |