Forward Industries (FWDI) Interest Coverage Ratio (2018 - 2026)
Forward Industries' (FWDI) Interest Coverage Ratio came in at -235.07 for fiscal Q4 2025 (quarter ended Sep 30, 2025), compared with -57.77 a year earlier.
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Analysis
Forward Industries (FWDI) Interest Coverage Ratio (2018 - 2026) Analysis & Trends
For FY2025 (ended Sep 30, 2025), Forward Industries' Interest Coverage Ratio stood at -170.78.
- In prior fiscal years, Forward Industries' Interest Coverage Ratio was -34.33 in FY2024, 1.53 in FY2023 (-67.9%), 4.77 in FY2022 and -4.45 in FY2021.
- The fiscal Q4 2025 figure stands as the lowest quarterly Interest Coverage Ratio in data going back to fiscal Q1 2019.
- According to Business Quant data, Interest Coverage Ratio for the three prior fiscal quarters was -211.57 (Q3 2025), -153.92 (Q2 2025) and -75.04 (Q1 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Interest Cover (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 50.81 Bn | 42.20 Bn | - | - |
| 2 | Cognizant Technology Solutions | 28.52 Bn | 22.49 Bn | 1.91 Bn | 45.89 |
| 3 | Cdw | 20.95 Bn | 17.85 Bn | 1.39 Bn | - |
| 4 | Td Synnex | 18.62 Bn | 12.78 Bn | 1.43 Bn | - |
| 5 | Arrow Electronics | 10.10 Bn | 9.05 Bn | 1.13 Bn | - |
| 6 | EPAM Systems | 7.92 Bn | 3.84 Bn | 445.94 Mn | - |
| 7 | Avnet | 7.12 Bn | 6.30 Bn | 865.03 Mn | 3.48 |
| 8 | ExlService Holdings | 6.52 Bn | 5.32 Bn | 241.14 Mn | 14.02 |
| 9 | Science Applications International | 6.35 Bn | 5.89 Bn | 239.00 Mn | 4.61 |
| 10 | Forward Industries | 461.21 Mn | 461.21 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | -4,800.60 |
| Sep 30, 2025 | -235.07 |
| Jun 30, 2025 | -211.57 |
| Mar 31, 2025 | -153.92 |
| Dec 31, 2024 | -75.04 |
| Sep 30, 2024 | -57.77 |
| Jun 30, 2024 | -31.78 |
| Mar 31, 2024 | -36.59 |
| Dec 31, 2023 | -20.01 |
| Sep 30, 2023 | 9.63 |
| Jun 30, 2023 | 5.82 |
| Mar 31, 2023 | -3.43 |
| Dec 31, 2022 | -4.58 |
| Sep 30, 2022 | 36.96 |
| Jun 30, 2022 | -12.68 |
| Mar 31, 2022 | -10.46 |
| Dec 31, 2021 | 6.53 |
| Sep 30, 2021 | -1.50 |
| Jun 30, 2021 | 5.86 |
| Mar 31, 2021 | -17.47 |
API Access
Forward Industries Interest Coverage 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=interest-coverage-ratio&ticker=FWDI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "interest-coverage-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=interest-coverage-ratio&ticker=FWDI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();