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Forward Industries, Inc. balance sheet

At the end of fiscal 2025, Forward Industries, Inc. had total assets of $1.47bn, total liabilities of $4.8m and shareholders' equity of $1.47bn.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2011Sept 20112012Sept 20122013Sept 20132017Sept 20172018Sept 20182019Sept 20192020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Cash and equivalents1557———313333811
Receivables4846978987222
Inventory13222212100——
Total current assets22171513151212131411104122
Goodwill———022222220—
Total assets22171513191619202117151,475603
Accounts payable3630000001000
Deferred revenue (current)———0000000001
Total current liabilities—8548897101193128
Long-term debt———00012110——
Total debt00002132111—0
Total liabilities48548813121515125128
Shareholders' equity19999118776331,470474
Non-controlling interests and other (assets − liabilities − equity)——1——————————
Net debt (negative = net cash)−15−5−7———−00−1−2−2−38−11
Shares outstanding—————————1m1m—74m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Forward Industries, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Forward Industries, Inc.