Forward Industries (FWDI) Gross Margin (2010 - 2026)
Forward Industries (FWDI) reported Gross Margin of 78.61% for fiscal Q1 2026 (quarter ended Dec 31, 2025), up 54.11 percentage points from 24.50% a year earlier and up 17.47 percentage points from the prior quarter.
Forward Industries (FWDI) Gross Margin (2010 - 2026) Analysis & Trends
Over the twelve months ended Dec 31, 2025, Forward Industries' Gross Margin came in at 59.74%, up 34.71 percentage points year-over-year; for FY2025 (ended Sep 30, 2025), it came in at 28.54%, up 2.61 percentage points from FY2024.
- Gross Margin has a five-year change of +9.29 percentage points (FY2020 to FY2025).
- By fiscal year, Gross Margin came in at 25.93% in FY2024 (+3.13 pp), 22.80% in FY2023 (-0.23 pp), 23.03% in FY2022 (+2.19 pp) and 20.85% in FY2021 (+1.59 pp).
- The fiscal Q1 2026 figure ranks as the highest quarterly Gross Margin in data going back to fiscal Q3 2010.
- Year over year, Gross Margin gained in five of the last eight quarters, with an average year-over-year change of +1.79 percentage points.
- The high point for year-over-year Gross Margin in five years was fiscal Q1 2026 (a gain of 54.11 percentage points); the low point was fiscal Q3 2025 (a drop of 50.86 percentage points).
- Per Business Quant data, the three fiscal quarters before Q1 2026 came in at 61.14% (Q4 2025), -24.89% (Q3 2025) and -5.72% (Q2 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 50.81 Bn | 42.20 Bn | - | - |
| 2 | Cognizant Technology Solutions | 28.52 Bn | 22.49 Bn | 1.91 Bn | 33.77% |
| 3 | Cdw | 20.95 Bn | 17.85 Bn | 1.39 Bn | 20.51% |
| 4 | Td Synnex | 18.62 Bn | 12.78 Bn | 1.43 Bn | 6.61% |
| 5 | Arrow Electronics | 10.10 Bn | 9.05 Bn | 1.13 Bn | 11.26% |
| 6 | EPAM Systems | 7.92 Bn | 3.84 Bn | 445.94 Mn | 31.26% |
| 7 | Avnet | 7.12 Bn | 6.30 Bn | 865.03 Mn | 10.43% |
| 8 | ExlService Holdings | 6.52 Bn | 5.32 Bn | 241.14 Mn | 38.04% |
| 9 | Science Applications International | 6.35 Bn | 5.89 Bn | 239.00 Mn | 12.71% |
| 10 | Forward Industries | 461.21 Mn | 461.21 Mn | - | - |
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 69.99% |
| Dec 31, 2025 | 78.61% |
| Sep 30, 2025 | 61.14% |
| Jun 30, 2025 | -24.89% |
| Mar 31, 2025 | -5.72% |
| Dec 31, 2024 | 24.50% |
| Sep 30, 2024 | 23.30% |
| Jun 30, 2024 | 25.97% |
| Mar 31, 2024 | 26.22% |
| Dec 31, 2023 | 22.97% |
| Sep 30, 2023 | 26.90% |
| Jun 30, 2023 | 25.15% |
| Mar 31, 2023 | 19.77% |
| Dec 31, 2022 | 20.16% |
| Sep 30, 2022 | 35.34% |
| Jun 30, 2022 | 18.11% |
| Mar 31, 2022 | 21.84% |
| Dec 31, 2021 | 22.55% |
| Sep 30, 2021 | 17.77% |
| Jun 30, 2021 | 21.91% |
Forward Industries Gross Margin 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=gross-margin&ticker=FWDI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=FWDI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();