Forward Industries (FWDI) Tax Rate (2012 - 2023)
Forward Industries' Tax Rate was -0.46% in fiscal Q1 2026 (quarter ended Dec 31, 2025), down 0.45 percentage points from the prior quarter.
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Analysis
Forward Industries (FWDI) Tax Rate (2012 - 2023) Analysis & Trends
On a trailing twelve-month basis, Forward Industries' Tax Rate was -0.36% through Dec 31, 2025, up 0.50 percentage points year-over-year; for FY2025 (ended Sep 30, 2025), it came in at -0.01%, up 1.06 percentage points from FY2024.
- Tax Rate shows a five-year change of +0.51 percentage points (FY2020 to FY2025).
- In earlier fiscal years, Tax Rate was -1.07% in FY2024 (-12.27 pp), 11.20% in FY2023 (+10.63 pp) and 0.56% in FY2022.
- The fiscal Q1 2026 figure marks the lowest quarterly Tax Rate since fiscal Q4 2024.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 51.06 Bn | 16.35 Bn | 1.60 Bn | 29.15% |
| 2 | Cognizant Technology Solutions | 29.12 Bn | 23.09 Bn | 1.91 Bn | 27.46% |
| 3 | Cdw | 21.17 Bn | 18.07 Bn | 1.39 Bn | 26.92% |
| 4 | Td Synnex | 18.55 Bn | 12.71 Bn | 1.43 Bn | 25.04% |
| 5 | Cgi | 18.36 Bn | 16.16 Bn | - | 26.62% |
| 6 | Arrow Electronics | 9.82 Bn | 8.84 Bn | 1.16 Bn | 19.09% |
| 7 | EPAM Systems | 8.35 Bn | 4.26 Bn | 445.94 Mn | 26.10% |
| 8 | Avnet | 7.00 Bn | 6.12 Bn | 1.07 Bn | 24.07% |
| 9 | ExlService Holdings | 6.69 Bn | 5.49 Bn | 241.14 Mn | 20.70% |
| 10 | Forward Industries | 386.96 Mn | 293.49 Mn | 6.70 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2023 | 7.85% |
| Sep 30, 2022 | 0.24% |
| Mar 31, 2018 | 370.78% |
| Dec 31, 2013 | 0.01% |
| Mar 31, 2013 | 0.15% |
| Dec 31, 2012 | 0.04% |
API Access
Forward Industries Tax Rate 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=tax-rate&ticker=FWDI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=FWDI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();