vs
Side-by-side financial comparison of ADC Therapeutics SA (ADCT) and Forward Industries, Inc. (FWDI). Click either name above to swap in a different company.
ADC Therapeutics SA is the larger business by last-quarter revenue ($23.1M vs $21.4M, roughly 1.1× Forward Industries, Inc.). On growth, Forward Industries, Inc. posted the faster year-over-year revenue change (224.0% vs 36.4%). Over the past eight quarters, Forward Industries, Inc.'s revenue compounded faster (74.6% CAGR vs 13.7%).
ADC Telecommunications, Inc. was a communications company in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. It was acquired by TE Connectivity in December 2010 and ceased to exist as a separate entity. ADC products were sold by CommScope after it acquired the Broadband Network Solutions business unit from TE Connectivity in August 2015.
Melrose Industries plc is a British aerospace manufacturing company based in Birmingham, England. It is the parent company of GKN Aerospace. The company's shares are listed on the London Stock Exchange as a constituent of the FTSE 100 Index.
ADCT vs FWDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $23.1M | $21.4M |
| Net Profit | — | $-585.7M |
| Gross Margin | — | 78.6% |
| Operating Margin | -77.7% | -2722.8% |
| Net Margin | — | -2732.2% |
| Revenue YoY | 36.4% | 224.0% |
| Net Profit YoY | — | -82611.5% |
| EPS (diluted) | $0.04 | $-5.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $23.1M | $21.4M | ||
| Q3 25 | $15.8M | $7.9M | ||
| Q2 25 | $18.1M | $2.5M | ||
| Q1 25 | $17.4M | $3.1M | ||
| Q4 24 | $16.9M | $6.6M | ||
| Q3 24 | $18.0M | — | ||
| Q2 24 | $17.0M | $7.8M | ||
| Q1 24 | $17.8M | $5.1M |
| Q4 25 | — | $-585.7M | ||
| Q3 25 | $-41.0M | $-164.0M | ||
| Q2 25 | $-56.6M | $-850.0K | ||
| Q1 25 | $-38.6M | $-1.5M | ||
| Q4 24 | — | $-708.1K | ||
| Q3 24 | $-44.0M | — | ||
| Q2 24 | $-36.5M | $-399.6K | ||
| Q1 24 | $-46.6M | $-553.2K |
| Q4 25 | — | 78.6% | ||
| Q3 25 | — | 61.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 16.8% | ||
| Q1 24 | — | 26.2% |
| Q4 25 | -77.7% | -2722.8% | ||
| Q3 25 | -196.6% | -39.2% | ||
| Q2 25 | -244.1% | -102.6% | ||
| Q1 25 | -163.5% | -58.3% | ||
| Q4 24 | -191.8% | -13.6% | ||
| Q3 24 | -197.4% | — | ||
| Q2 24 | -170.5% | -5.9% | ||
| Q1 24 | -188.3% | -12.2% |
| Q4 25 | — | -2732.2% | ||
| Q3 25 | -260.1% | -2063.6% | ||
| Q2 25 | -313.2% | -34.1% | ||
| Q1 25 | -221.8% | -46.5% | ||
| Q4 24 | — | -10.7% | ||
| Q3 24 | -244.1% | — | ||
| Q2 24 | -214.6% | -5.1% | ||
| Q1 24 | -261.1% | -10.9% |
| Q4 25 | $0.04 | $-5.91 | ||
| Q3 25 | $-0.30 | $-21.86 | ||
| Q2 25 | $-0.50 | $-0.77 | ||
| Q1 25 | $-0.36 | $-1.32 | ||
| Q4 24 | $-0.26 | $-0.64 | ||
| Q3 24 | $-0.42 | — | ||
| Q2 24 | $-0.38 | $-0.36 | ||
| Q1 24 | $-0.56 | $-0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $261.3M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-185.8M | $880.9M |
| Total Assets | $323.1M | $892.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $261.3M | — | ||
| Q3 25 | $234.7M | — | ||
| Q2 25 | $264.6M | — | ||
| Q1 25 | $194.7M | — | ||
| Q4 24 | $250.9M | — | ||
| Q3 24 | $274.3M | — | ||
| Q2 24 | $300.1M | — | ||
| Q1 24 | $234.3M | — |
| Q4 25 | $-185.8M | $880.9M | ||
| Q3 25 | $-238.2M | $1.5B | ||
| Q2 25 | $-199.2M | $3.4M | ||
| Q1 25 | $-238.2M | $3.6M | ||
| Q4 24 | $-202.6M | $2.3M | ||
| Q3 24 | $-171.9M | — | ||
| Q2 24 | $-131.7M | $1.4M | ||
| Q1 24 | $-194.4M | $1.8M |
| Q4 25 | $323.1M | $892.9M | ||
| Q3 25 | $289.8M | $1.5B | ||
| Q2 25 | $321.6M | $8.3M | ||
| Q1 25 | $272.5M | $12.3M | ||
| Q4 24 | $322.0M | — | ||
| Q3 24 | $349.1M | — | ||
| Q2 24 | $371.8M | $15.2M | ||
| Q1 24 | $308.0M | $15.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-31.1M | $-7.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-31.1M | $-7.9M | ||
| Q3 25 | $-29.6M | $-4.5M | ||
| Q2 25 | $-24.1M | $-1.2M | ||
| Q1 25 | $-56.3M | $-537.6K | ||
| Q4 24 | $-21.9M | $-434.3K | ||
| Q3 24 | $-25.0M | — | ||
| Q2 24 | $-32.8M | $436.0K | ||
| Q1 24 | $-44.1M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | — | $-1.2M | ||
| Q1 25 | $-56.6M | $-539.0K | ||
| Q4 24 | $-21.9M | $-439.7K | ||
| Q3 24 | $-25.3M | — | ||
| Q2 24 | $-32.9M | $426.8K | ||
| Q1 24 | $-44.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -57.0% | ||
| Q2 25 | — | -50.0% | ||
| Q1 25 | -325.2% | -17.3% | ||
| Q4 24 | -129.8% | -6.6% | ||
| Q3 24 | -140.2% | — | ||
| Q2 24 | -193.0% | 5.5% | ||
| Q1 24 | -250.0% | — |
| Q4 25 | 0.0% | 0.0% | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | 0.0% | 0.8% | ||
| Q1 25 | 1.5% | 0.0% | ||
| Q4 24 | 0.5% | 0.1% | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 0.2% | 0.1% | ||
| Q1 24 | 3.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADCT
Segment breakdown not available.
FWDI
| CODM | $17.4M | 81% |
| Design Segment | $4.1M | 19% |
