Forward Industries (FWDI) Return on Invested Capital [ROIC] (2019 - 2025)
Forward Industries' Return on Invested Capital [ROIC] was -50.21% in fiscal Q1 2026 (quarter ended Dec 31, 2025), up 25.99 percentage points from -76.20% a year earlier but down 49.07 percentage points from the prior quarter.
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Analysis
Forward Industries (FWDI) Return on Invested Capital [ROIC] (2019 - 2025) Analysis & Trends
For FY2025 (ended Sep 30, 2025), Return on Invested Capital [ROIC] at Forward Industries came in at -1.14%, up 53.44 percentage points from FY2024.
- Return on Invested Capital [ROIC] shows a five-year change of +18.37 percentage points (FY2020 to FY2025).
- In earlier fiscal years, Return on Invested Capital [ROIC] was -54.57% in FY2024 (-57.07 pp), 2.49% in FY2023 (-4.51 pp) and 7.00% in FY2022.
- Quarterly Return on Invested Capital [ROIC] has moved between -147.26% (fiscal Q3 2025) and 16.03% (fiscal Q3 2023) over five years.
- Compared with a year earlier, Return on Invested Capital [ROIC] was higher in two of the last eight quarters, with an average year-over-year change of -41.49 percentage points.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was fiscal Q4 2025 (a gain of 69.24 percentage points); the worst was fiscal Q3 2025 (a drop of 92.75 percentage points).
- Per Business Quant data, FWDI's Return on Invested Capital [ROIC] in the three fiscal quarters before Q1 2026 was -1.14% (Q4 2025), -147.26% (Q3 2025) and -110.10% (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 44.69 Bn | 44.75 Bn | 1.60 Bn | - |
| 2 | Cognizant Technology Solutions | 26.45 Bn | 19.61 Bn | 1.83 Bn | 13.74% |
| 3 | Td Synnex | 22.21 Bn | 16.36 Bn | 1.43 Bn | 11.10% |
| 4 | Cdw | 16.70 Bn | 14.69 Bn | 1.32 Bn | 15.18% |
| 5 | Cgi | 15.63 Bn | 13.41 Bn | - | - |
| 6 | Arrow Electronics | 12.33 Bn | 11.35 Bn | 1.13 Bn | 10.19% |
| 7 | Avnet | 8.78 Bn | 7.96 Bn | 865.03 Mn | 6.41% |
| 8 | Ingram Micro Holding | 6.70 Bn | 2.31 Bn | 958.68 Mn | 8.18% |
| 9 | EPAM Systems | 5.58 Bn | 1.22 Bn | 429.57 Mn | 11.55% |
| 10 | Forward Industries | 602.59 Mn | 602.59 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | -50.21% |
| Sep 30, 2025 | -1.14% |
| Jun 30, 2025 | -147.26% |
| Mar 31, 2025 | -110.10% |
| Dec 31, 2024 | -76.20% |
| Sep 30, 2024 | -70.38% |
| Jun 30, 2024 | -54.52% |
| Mar 31, 2024 | -21.89% |
| Dec 31, 2023 | -2.70% |
| Sep 30, 2023 | 2.84% |
| Jun 30, 2023 | 16.03% |
| Mar 31, 2023 | 7.02% |
| Dec 31, 2022 | 3.27% |
| Sep 30, 2022 | 7.26% |
| Jun 30, 2021 | -9.05% |
| Mar 31, 2021 | -10.84% |
| Dec 31, 2020 | -21.06% |
| Sep 30, 2020 | -19.97% |
| Mar 31, 2020 | -34.20% |
| Dec 31, 2019 | -24.95% |
API Access
Forward Industries Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=FWDI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=FWDI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();