Forward Industries, Inc.

FORDNASDAQConsumer Cyclical

$9.12

+$0.19(+2.13%)

Market Cap$15673513

P/E Ratio—

52W High$46

52W Low$3.32

Avg Volume635K

Open$8.75

Beta0.52

Free Cash Flow Financials Revenue

Forward Industries, Inc. (FORD) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FORD · free cash flow · updated Jun 8, 2026

Core FCF metrics

FORD · FCF · TTM · margin & CAGR

Free cash flow was −$4.9M for FY2025 (fiscal year ending 2025-09-30), down 1539.9% year-over-year The FCF margin was -27.1%.

FY2025 Free Cash Flow−$4.9M▼ -1539.9% YoY

Trailing 12M (TTM)−$16.3Mtrailing 4 quarters sum

FCF Margin-27.1%−$4.9M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

FORD · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$4.5M(0M)−$4.9M▼ 1539.9%-27.1%

FY2024$407,122(0M)$341,968▼ 62.2%1.1%

FY2023$1.0M(0M)$904,946▼ 33.7%2.5%

FY2022$1.5M(0M)$1.4M▲ +329.2%3.2%

FY2021−$528,311(0M)−$595,518▼ 79.7%-1.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

FORD · P/FCF · FCF yield · FCF per share

Forward Industries, Inc. (FORD) reported negative free cash flow of −$0.00B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-09-30

Cash flow statement summary

FORD · cash flow statement · operating / investing / financing

For FY2025, Forward Industries, Inc. generated −$4.5M in operating cash flow and spent 0M in capital expenditures, yielding −$4.9M in free cash flow.

Operating Activities

−$4.5M

Cash from core business operations

2025-09-30

Investing Activities

−$901.5M

CapEx, acquisitions & investments

2025-09-30

Financing Activities

+$941.4M

Buybacks, dividends & debt

2025-09-30

FCF FormulaOperating CF (−$4.5M) − |CapEx| (0M) = FCF (−$4.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Cyclical)

FORD vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Forward Industries, Inc.YOU

FORD

−$4.9M-1539.9%-27.1%

Loss

Toyota Motor Corporation

Alibaba Group Holding Limited

BABA

−$50.72B-164.9%-5.0%

Loss

Consumer Cyclical · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Forward Industries, Inc. (FORD) reported free cash flow of −$4.9M for FY2025 (fiscal year ending 2025-09-30), down 1539.9% year-over-year. The FCF margin was -27.1%.

Based on available data, Forward Industries, Inc. has maintained positive free cash flow for at least 7 fiscal year(s). FCF peaked at $2.2M in FY2013.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

FORD free cash flow · 8 questions

Forward Industries, Inc. free cash flow was −$4.9M for FY2025, down 1539.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$16.3M.

FORD free cash flowFORD FCFFORD FCF 2025FORD free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Forward Industries, Inc. · Forward Industries, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026