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Side-by-side financial comparison of Forward Industries, Inc. (FWDI) and Maison Solutions Inc. (MSS). Click either name above to swap in a different company.
Maison Solutions Inc. is the larger business by last-quarter revenue ($27.6M vs $21.4M, roughly 1.3× Forward Industries, Inc.). Maison Solutions Inc. runs the higher net margin — -18.0% vs -2732.2%, a 2714.2% gap on every dollar of revenue. On growth, Forward Industries, Inc. posted the faster year-over-year revenue change (224.0% vs -10.9%). Over the past eight quarters, Forward Industries, Inc.'s revenue compounded faster (74.6% CAGR vs 42.5%).
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.
Maison Solutions Inc.MSSEarnings & Financial Report
Maison Solutions Inc. is a specialty home goods retail company that provides a diverse portfolio of stylish, affordably priced furniture, home decor items, and daily household products. Its primary market is the Guangdong-Hong Kong-Macao Greater Bay Area in China, serving mass consumers through both offline physical stores and online e-commerce channels.
FWDI vs MSS — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $21.4M | $27.6M |
| Net Profit | $-585.7M | $-5.0M |
| Gross Margin | 78.6% | 23.4% |
| Operating Margin | -2722.8% | -4.9% |
| Net Margin | -2732.2% | -18.0% |
| Revenue YoY | 224.0% | -10.9% |
| Net Profit YoY | -82611.5% | -1840.5% |
| EPS (diluted) | $-5.91 | $-0.23 |
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 | $21.4M | $27.6M | ||
| Q3 25 | $7.9M | $27.2M | ||
| Q2 25 | $2.5M | $34.4M | ||
| Q1 25 | $3.1M | $32.3M | ||
| Q4 24 | $6.6M | $29.4M | ||
| Q3 24 | — | $28.2M | ||
| Q2 24 | $7.8M | $16.9M | ||
| Q1 24 | $5.1M | $13.6M |
| Q4 25 | $-585.7M | $-5.0M | ||
| Q3 25 | $-164.0M | $-1.5M | ||
| Q2 25 | $-850.0K | $-287.4K | ||
| Q1 25 | $-1.5M | $1.0M | ||
| Q4 24 | $-708.1K | $-256.0K | ||
| Q3 24 | — | $700.9K | ||
| Q2 24 | $-399.6K | $-2.8M | ||
| Q1 24 | $-553.2K | $-549.0K |
| Q4 25 | 78.6% | 23.4% | ||
| Q3 25 | 61.1% | 24.1% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | -5.7% | 21.8% | ||
| Q4 24 | 17.1% | 26.9% | ||
| Q3 24 | — | 28.9% | ||
| Q2 24 | 16.8% | 13.0% | ||
| Q1 24 | 26.2% | 23.4% |
| Q4 25 | -2722.8% | -4.9% | ||
| Q3 25 | -39.2% | 0.7% | ||
| Q2 25 | -102.6% | -15.9% | ||
| Q1 25 | -58.3% | 3.7% | ||
| Q4 24 | -13.6% | 3.2% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | -5.9% | -14.4% | ||
| Q1 24 | -12.2% | -2.3% |
| Q4 25 | -2732.2% | -18.0% | ||
| Q3 25 | -2063.6% | -5.7% | ||
| Q2 25 | -34.1% | -0.8% | ||
| Q1 25 | -46.5% | 3.1% | ||
| Q4 24 | -10.7% | -0.9% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | -5.1% | -16.4% | ||
| Q1 24 | -10.9% | -4.0% |
| Q4 25 | $-5.91 | $-0.23 | ||
| Q3 25 | $-21.86 | $-0.08 | ||
| Q2 25 | $-0.77 | $-0.02 | ||
| Q1 25 | $-1.32 | $0.06 | ||
| Q4 24 | $-0.64 | $-0.01 | ||
| Q3 24 | — | $0.04 | ||
| Q2 24 | $-0.36 | $-0.16 | ||
| Q1 24 | $-0.50 | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | $2.6M |
| Stockholders' EquityBook value | $880.9M | $11.6M |
| Total Assets | $892.9M | $75.4M |
| Debt / EquityLower = less leverage | — | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $1.1M | ||
| Q2 25 | — | $775.4K | ||
| Q1 25 | — | $445.4K | ||
| Q4 24 | — | $355.7K | ||
| Q3 24 | — | $588.9K | ||
| Q2 24 | — | $2.1M | ||
| Q1 24 | — | $9.4M |
| Q4 25 | — | $2.6M | ||
| Q3 25 | — | $2.6M | ||
| Q2 25 | — | $2.6M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.5M | ||
| Q2 24 | — | $2.6M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | $880.9M | $11.6M | ||
| Q3 25 | $1.5B | $10.1M | ||
| Q2 25 | $3.4M | $11.7M | ||
| Q1 25 | $3.6M | $12.0M | ||
| Q4 24 | $2.3M | $10.9M | ||
| Q3 24 | — | $11.2M | ||
| Q2 24 | $1.4M | $10.5M | ||
| Q1 24 | $1.8M | $13.3M |
| Q4 25 | $892.9M | $75.4M | ||
| Q3 25 | $1.5B | $73.3M | ||
| Q2 25 | $8.3M | $77.4M | ||
| Q1 25 | $12.3M | $82.7M | ||
| Q4 24 | — | $82.7M | ||
| Q3 24 | — | $82.1M | ||
| Q2 24 | $15.2M | $82.4M | ||
| Q1 24 | $15.2M | $44.2M |
| Q4 25 | — | 0.22× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.24× | ||
| Q1 24 | — | 0.19× |
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 | $-7.9M | $-1.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.9M | $-1.7M | ||
| Q3 25 | $-4.5M | $1.1M | ||
| Q2 25 | $-1.2M | $-1.6M | ||
| Q1 25 | $-537.6K | $1.7M | ||
| Q4 24 | $-434.3K | $1.1M | ||
| Q3 24 | — | $3.6M | ||
| Q2 24 | $436.0K | $-2.6M | ||
| Q1 24 | — | $-1.4M |
| Q4 25 | — | — | ||
| Q3 25 | $-4.5M | — | ||
| Q2 25 | $-1.2M | — | ||
| Q1 25 | $-539.0K | — | ||
| Q4 24 | $-439.7K | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $426.8K | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -57.0% | — | ||
| Q2 25 | -50.0% | — | ||
| Q1 25 | -17.3% | — | ||
| Q4 24 | -6.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.5% | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.66× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.12× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FWDI
| CODM | $17.4M | 81% |
| Design Segment | $4.1M | 19% |
MSS
| Perishables | $14.4M | 52% |
| Nonperishables | $13.2M | 48% |
