Forward Industries Inc
Forward Industries, Inc., together with its subsidiaries, designs, manufactures, sources, markets, and distributes carry and protective solutions. The company operates through OEM Distribution and Design segments. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and other portable electronic and non-electronic pr… Read more
Forward Industries Inc (FORD) - Net Assets
Latest net assets as of September 2025: $1.47 Billion USD
Based on the latest financial reports, Forward Industries Inc (FORD) has net assets worth $1.47 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.47 Billion) and total liabilities ($4.82 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.47 Billion |
| % of Total Assets | 99.67% |
| Annual Growth Rate | 26.41% |
| 5-Year Change | 19650.6% |
| 10-Year Change | 17884.77% |
| Growth Volatility | 8874.22 |
Forward Industries Inc - Net Assets Trend (1995–2025)
This chart illustrates how Forward Industries Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Forward Industries Inc (1995–2025)
The table below shows the annual net assets of Forward Industries Inc from 1995 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $1.47 Billion | +49448.64% |
| 2024-09-30 | $2.97 Million | +13.41% |
| 2023-09-30 | $2.62 Million | -58.25% |
| 2022-09-30 | $6.27 Million | -15.81% |
| 2021-09-30 | $7.44 Million | +13.07% |
| 2020-09-30 | $6.58 Million | -14.63% |
| 2019-09-30 | $7.71 Million | -30.53% |
| 2018-09-30 | $11.10 Million | +24.29% |
| 2017-09-30 | $8.93 Million | +9.25% |
| 2016-09-30 | $8.17 Million | +11.47% |
| 2015-09-30 | $7.33 Million | -20.17% |
| 2014-09-30 | $9.19 Million | -2.21% |
| 2013-09-30 | $9.39 Million | +2.25% |
| 2012-09-30 | $9.19 Million | -50.82% |
| 2011-09-30 | $18.68 Million | -11.90% |
| 2010-09-30 | $21.21 Million | -5.84% |
| 2009-09-30 | $22.52 Million | -5.00% |
| 2008-09-30 | $23.71 Million | -2.93% |
| 2007-09-30 | $24.42 Million | -2.11% |
| 2006-09-30 | $24.95 Million | +9.23% |
| 2005-09-30 | $22.84 Million | +199.81% |
| 2004-09-30 | $7.62 Million | +43.87% |
| 2003-09-30 | $5.30 Million | +42.97% |
| 2002-09-30 | $3.70 Million | +30.04% |
| 2001-09-30 | $2.85 Million | -44.82% |
| 2000-09-30 | $5.16 Million | +1.22% |
| 1999-09-30 | $5.10 Million | +45.71% |
| 1998-09-30 | $3.50 Million | -16.67% |
| 1997-09-30 | $4.20 Million | +13.51% |
| 1996-09-30 | $3.70 Million | +184.62% |
| 1995-09-30 | $1.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Forward Industries Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 18601148000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $861.46K | 0.06% |
| Other Components | $1.66 Billion | 112.63% |
| Total Equity | $1.47 Billion | 100.00% |
Forward Industries Inc Competitors by Market Cap
The table below lists competitors of Forward Industries Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Jui Li Enterprise Co Ltd
TW:1512
|
$15.44 Million |
|
GELION PLC LS-01
F:X0S
|
$15.44 Million |
|
Transindia Real Estate Limited
NSE:TREL
|
$15.45 Million |
|
Oricom Inc
KQ:010470
|
$15.45 Million |
|
Univentures Public Company Limited
BK:UV
|
$15.42 Million |
|
High Roller Technologies, Inc.
NYSE MKT:ROLR
|
$15.42 Million |
|
Global Acquisitions Corporation
PINK:AASP
|
$15.42 Million |
|
Centratama Telekomunikasi Ind
JK:CENT
|
$15.42 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Forward Industries Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,967,034 to 1,470,124,867, a change of 1,467,157,833 (49448.6%).
- Net loss of 167,003,784 reduced equity.
- New share issuances of 2,237,565 increased equity.
- Other factors increased equity by 1,631,924,052.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-167.00 Million | -11.36% |
| Share Issuances | $2.24 Million | +0.15% |
| Other Changes | $1.63 Billion | +111.01% |
| Total Change | $- | 49448.64% |
Book Value vs Market Value Analysis
This analysis compares Forward Industries Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.05x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.40x to 0.05x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-09-30 | $8.09 | $11.34 | x |
| 1996-09-30 | $16.15 | $11.34 | x |
| 1997-09-30 | $11.03 | $11.34 | x |
| 1998-09-30 | $7.32 | $11.34 | x |
| 1999-09-30 | $8.92 | $11.34 | x |
| 2000-09-30 | $0.85 | $11.34 | x |
| 2001-09-30 | $4.82 | $11.34 | x |
| 2002-09-30 | $6.36 | $11.34 | x |
| 2003-09-30 | $8.89 | $11.34 | x |
| 2004-09-30 | $11.83 | $11.34 | x |
| 2005-09-30 | $30.53 | $11.34 | x |
| 2006-09-30 | $31.17 | $11.34 | x |
| 2007-09-30 | $31.14 | $11.34 | x |
| 2008-09-30 | $30.05 | $11.34 | x |
| 2009-09-30 | $28.41 | $11.34 | x |
| 2010-09-30 | $26.56 | $11.34 | x |
| 2011-09-30 | $23.12 | $11.34 | x |
| 2012-09-30 | $1.13 | $11.34 | x |
| 2013-09-30 | $11.58 | $11.34 | x |
| 2014-09-30 | $11.22 | $11.34 | x |
| 2015-09-30 | $8.79 | $11.34 | x |
| 2016-09-30 | $9.42 | $11.34 | x |
| 2017-09-30 | $10.12 | $11.34 | x |
| 2018-09-30 | $11.87 | $11.34 | x |
| 2019-09-30 | $8.09 | $11.34 | x |
| 2020-09-30 | $6.87 | $11.34 | x |
| 2021-09-30 | $7.13 | $11.34 | x |
| 2022-09-30 | $6.23 | $11.34 | x |
| 2023-09-30 | $2.60 | $11.34 | x |
| 2024-09-30 | $2.69 | $11.34 | x |
| 2025-09-30 | $216.48 | $11.34 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Forward Industries Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -11.36%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -918.23%
- • Asset Turnover: 0.01x
- • Equity Multiplier: 1.00x
- Recent ROE (-11.36%) is above the historical average (-16.37%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | -69.23% | -5.81% | 1.85x | 6.46x | $-1.03 Million |
| 1996 | -29.73% | -6.15% | 2.03x | 2.38x | $-1.47 Million |
| 1997 | 4.76% | 1.57% | 1.27x | 2.38x | $-220.00K |
| 1998 | -31.43% | -8.46% | 1.60x | 2.31x | $-1.45 Million |
| 1999 | 15.69% | 3.88% | 2.10x | 1.92x | $290.00K |
| 2000 | 1.78% | 0.64% | 2.08x | 1.34x | $-424.14K |
| 2001 | -69.48% | -15.02% | 2.30x | 2.01x | $-2.26 Million |
| 2002 | 23.10% | 5.23% | 3.04x | 1.45x | $485.20K |
| 2003 | 27.29% | 7.65% | 2.63x | 1.36x | $915.85K |
| 2004 | 25.45% | 9.66% | 1.97x | 1.34x | $1.18 Million |
| 2005 | 41.30% | 18.19% | 1.73x | 1.31x | $7.15 Million |
| 2006 | 6.18% | 5.04% | 1.10x | 1.11x | $-953.87K |
| 2007 | -2.27% | -2.50% | 0.83x | 1.09x | $-3.00 Million |
| 2008 | -3.75% | -4.45% | 0.77x | 1.10x | $-3.26 Million |
| 2009 | -6.19% | -7.99% | 0.71x | 1.09x | $-3.65 Million |
| 2010 | -7.94% | -8.87% | 0.77x | 1.16x | $-3.81 Million |
| 2011 | -15.53% | -12.73% | 1.02x | 1.19x | $-4.77 Million |
| 2012 | -104.86% | -32.77% | 1.72x | 1.86x | $-10.55 Million |
| 2013 | -2.20% | -0.67% | 2.06x | 1.60x | $-1.15 Million |
| 2014 | -8.71% | -2.40% | 2.01x | 1.80x | $-1.72 Million |
| 2015 | -19.55% | -4.78% | 2.35x | 1.74x | $-2.17 Million |
| 2016 | 7.42% | 2.21% | 2.22x | 1.52x | $-210.87K |
| 2017 | 6.49% | 2.34% | 1.88x | 1.47x | $-313.70K |
| 2018 | 12.43% | 4.00% | 1.79x | 1.73x | $269.36K |
| 2019 | -46.74% | -9.63% | 2.32x | 2.09x | $-4.38 Million |
| 2020 | -26.97% | -5.15% | 1.78x | 2.94x | $-2.43 Million |
| 2021 | 7.04% | 1.34% | 1.97x | 2.67x | $-220.54K |
| 2022 | -21.99% | -3.26% | 2.02x | 3.34x | $-2.00 Million |
| 2023 | -142.82% | -10.18% | 2.11x | 6.65x | $-4.00 Million |
| 2024 | -65.74% | -6.46% | 2.04x | 4.98x | $-2.25 Million |
| 2025 | -11.36% | -918.23% | 0.01x | 1.00x | $-314.02 Million |
Industry Comparison
This section compares Forward Industries Inc's net assets metrics with peer companies in the Footwear & Accessories industry.
Industry Context
- Industry: Footwear & Accessories
- Average net assets among peers: $14,906,776,702
- Average return on equity (ROE) among peers: 15.50%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Forward Industries Inc (FORD) | $1.47 Billion | -69.23% | 0.00x | $15.44 Million |
| Adidas AG (ADDDF) | $7.06 Billion | 28.00% | 1.93x | $29.25 Billion |
| American Rebel Holdings Inc (AREB) | $-5.01 Million | 0.00% | 0.00x | $820.83K |
| American Rebel Holdings Inc. Warrants (AREBW) | $-646.27K | 0.00% | 0.00x | $10.11K |
| ASICS Corporation (ASCCF) | $138.08 Billion | 9.97% | 0.77x | $14.51 Billion |
| Birkenstock Holding plc (BIRK) | $2.40 Billion | 3.13% | 1.01x | $2.66 Billion |
| Boss Holdings Inc (BSHI) | $18.59 Million | 4.22% | 0.25x | $144.31K |
| Eatware Inc (CHSH) | $3.45 Million | 18.93% | 0.33x | $0.97 |
| Crocs Inc (CROX) | $817.93 Million | 66.04% | 4.50x | $3.98 Billion |
| Designer Brands Inc (DBI) | $640.76 Million | 16.80% | 0.57x | $153.96 Million |
| Deckers Outdoor Corporation (DECK) | $57.10 Million | 7.88% | 0.31x | $14.69 Billion |