Forward Industries (FWDI) Debt Ratio (2018 - 2026)
Forward Industries' (FWDI) Debt Ratio came in at 0.00 for fiscal Q1 2026 (quarter ended Dec 31, 2025), down 91.2% from 0.04 a year earlier.
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Analysis
Forward Industries (FWDI) Debt Ratio (2018 - 2026) Analysis & Trends
For FY2024 (ended Sep 30, 2024), Forward Industries' Debt Ratio stood at 0.08, up 28.4% from FY2023.
- In prior fiscal years, Forward Industries' Debt Ratio was 0.06 in FY2023 (-5.4%), 0.07 in FY2022 (-17.0%), 0.08 in FY2021 (-50.2%) and 0.16 in FY2020 (-10.3%).
- The fiscal Q1 2026 figure stands as the lowest quarterly Debt Ratio in data going back to fiscal Q4 2018.
- On a year-over-year basis, Debt Ratio increased in two of the last seven quarters, with an average decline of 10.9%.
- The strongest year-over-year quarter for Debt Ratio in the past five years was fiscal Q3 2025, with growth of 83.6%; the weakest was fiscal Q1 2026, with a decline of 91.2%.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 50.81 Bn | 42.20 Bn | - | 0.00 |
| 2 | Cognizant Technology Solutions | 28.52 Bn | 22.49 Bn | 1.91 Bn | 0.07 |
| 3 | Cdw | 20.95 Bn | 17.85 Bn | 1.39 Bn | 0.36 |
| 4 | Td Synnex | 18.62 Bn | 12.78 Bn | 1.43 Bn | 0.13 |
| 5 | Arrow Electronics | 10.10 Bn | 9.05 Bn | 1.13 Bn | 0.06 |
| 6 | EPAM Systems | 7.92 Bn | 3.84 Bn | 445.94 Mn | 0.01 |
| 7 | Avnet | 7.12 Bn | 6.30 Bn | 865.03 Mn | 0.21 |
| 8 | ExlService Holdings | 6.52 Bn | 5.32 Bn | 241.14 Mn | 0.25 |
| 9 | Science Applications International | 6.35 Bn | 5.89 Bn | 239.00 Mn | 0.46 |
| 10 | Forward Industries | 461.21 Mn | 461.21 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 0.08 |
| Dec 31, 2025 | 0.00 |
| Jun 30, 2025 | 0.07 |
| Mar 31, 2025 | 0.05 |
| Dec 31, 2024 | 0.04 |
| Sep 30, 2024 | 0.04 |
| Jun 30, 2024 | 0.04 |
| Mar 31, 2024 | 0.05 |
| Dec 31, 2023 | 0.05 |
| Sep 30, 2023 | 0.06 |
| Jun 30, 2023 | 0.09 |
| Mar 31, 2023 | 0.06 |
| Dec 31, 2022 | 0.06 |
| Sep 30, 2022 | 0.07 |
| Jun 30, 2022 | 0.06 |
| Mar 31, 2022 | 0.07 |
| Dec 31, 2021 | 0.07 |
| Sep 30, 2021 | 0.08 |
| Jun 30, 2021 | 0.09 |
| Mar 31, 2021 | 0.10 |
API Access
Forward Industries Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=FWDI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "FWDI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=FWDI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();