Forward Industries (FWDI) Operating Margin (2010 - 2025)
Forward Industries (FWDI) recorded Operating Margin of -2722.80% in fiscal Q1 2026 (quarter ended Dec 31, 2025), down 2703.38 percentage points from -19.42% a year earlier and down 2683.62 percentage points from the prior quarter.
Forward Industries (FWDI) Operating Margin (2010 - 2025) Analysis & Trends
On a TTM basis, Forward Industries' Operating Margin came in at -1689.03% as of Dec 31, 2025, down 1675.25 percentage points year-over-year; for FY2025 (ended Sep 30, 2025), it came in at -46.14%, down 35.38 percentage points from FY2024.
- Annual Operating Margin has declined for three straight fiscal years, with a five-year change of -40.39 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Operating Margin came in at -10.76% in FY2024 (-11.20 pp), 0.44% in FY2023 (-1.11 pp), 1.54% in FY2022 (+3.50 pp) and -1.96% in FY2021 (+3.79 pp).
- The fiscal Q1 2026 figure is the lowest quarterly Operating Margin in data going back to fiscal Q3 2010.
- On a year-over-year basis, Operating Margin has declined for ten consecutive quarters, with an average year-over-year change of -365.14 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 19.48 percentage points in fiscal Q4 2022, against a drop of 2703.38 percentage points in fiscal Q1 2026 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at -39.18% (Q4 2025), -102.61% (Q3 2025) and -58.33% (Q2 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 43.52 Bn | 43.57 Bn | 1.60 Bn | 21.09% |
| 2 | Cognizant Technology Solutions | 25.96 Bn | 19.13 Bn | 1.83 Bn | 15.95% |
| 3 | Td Synnex | 20.53 Bn | 14.56 Bn | 1.34 Bn | 2.65% |
| 4 | Cdw | 16.06 Bn | 14.05 Bn | 1.32 Bn | 6.52% |
| 5 | Cgi | 15.14 Bn | 12.92 Bn | - | - |
| 6 | Arrow Electronics | 11.55 Bn | 10.58 Bn | 1.13 Bn | 3.78% |
| 7 | Avnet | 8.20 Bn | 7.38 Bn | 865.03 Mn | 2.79% |
| 8 | Ingram Micro Holding | 6.32 Bn | 1.92 Bn | 958.68 Mn | 1.62% |
| 9 | EPAM Systems | 5.59 Bn | 1.23 Bn | 429.57 Mn | 10.76% |
| 10 | Forward Industries | 576.01 Mn | 576.01 Mn | - | - |
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | -2,722.80% |
| Sep 30, 2025 | -39.18% |
| Jun 30, 2025 | -102.61% |
| Mar 31, 2025 | -58.33% |
| Dec 31, 2024 | -19.42% |
| Sep 30, 2024 | -14.90% |
| Jun 30, 2024 | -9.12% |
| Mar 31, 2024 | -12.24% |
| Dec 31, 2023 | -5.32% |
| Sep 30, 2023 | 2.72% |
| Jun 30, 2023 | 1.70% |
| Mar 31, 2023 | -0.94% |
| Dec 31, 2022 | -1.31% |
| Sep 30, 2022 | 19.03% |
| Jun 30, 2022 | -3.64% |
| Mar 31, 2022 | -3.13% |
| Dec 31, 2021 | 1.84% |
| Sep 30, 2021 | -0.45% |
| Jun 30, 2021 | 2.69% |
| Mar 31, 2021 | -9.72% |
Forward Industries Operating 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=operating-margin&ticker=FWDI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=FWDI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();