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Side-by-side financial comparison of Forward Industries, Inc. (FWDI) and R F INDUSTRIES LTD (RFIL). Click either name above to swap in a different company.
R F INDUSTRIES LTD is the larger business by last-quarter revenue ($22.7M vs $21.4M, roughly 1.1× Forward Industries, Inc.). R F INDUSTRIES LTD runs the higher net margin — 0.8% vs -2732.2%, a 2732.9% gap on every dollar of revenue. On growth, Forward Industries, Inc. posted the faster year-over-year revenue change (224.0% vs 22.9%). Over the past eight quarters, Forward Industries, Inc.'s revenue compounded faster (74.6% CAGR vs 29.8%).
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.
Tootsie Roll Industries is an American manufacturer of confectionery based in Chicago, Illinois. Its best-known products include the namesake Tootsie Rolls and Tootsie Pops. Tootsie Roll Industries currently markets its brands internationally in Canada, Mexico, and over 75 other countries.
FWDI vs RFIL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.4M | $22.7M |
| Net Profit | $-585.7M | $173.0K |
| Gross Margin | 78.6% | 36.8% |
| Operating Margin | -2722.8% | 4.0% |
| Net Margin | -2732.2% | 0.8% |
| Revenue YoY | 224.0% | 22.9% |
| Net Profit YoY | -82611.5% | 172.7% |
| EPS (diluted) | $-5.91 | $0.01 |
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 | $22.7M | ||
| Q3 25 | $7.9M | $19.8M | ||
| Q2 25 | $2.5M | $18.9M | ||
| Q1 25 | $3.1M | $19.2M | ||
| Q4 24 | $6.6M | $18.5M | ||
| Q3 24 | — | $16.8M | ||
| Q2 24 | $7.8M | $16.1M | ||
| Q1 24 | $5.1M | $13.5M |
| Q4 25 | $-585.7M | $173.0K | ||
| Q3 25 | $-164.0M | $392.0K | ||
| Q2 25 | $-850.0K | $-245.0K | ||
| Q1 25 | $-1.5M | $-245.0K | ||
| Q4 24 | $-708.1K | $-238.0K | ||
| Q3 24 | — | $-705.0K | ||
| Q2 24 | $-399.6K | $-4.3M | ||
| Q1 24 | $-553.2K | $-1.4M |
| Q4 25 | 78.6% | 36.8% | ||
| Q3 25 | 61.1% | 34.0% | ||
| Q2 25 | — | 31.5% | ||
| Q1 25 | -5.7% | 29.8% | ||
| Q4 24 | 17.1% | 31.3% | ||
| Q3 24 | — | 29.5% | ||
| Q2 24 | 16.8% | 29.9% | ||
| Q1 24 | 26.2% | 24.5% |
| Q4 25 | -2722.8% | 4.0% | ||
| Q3 25 | -39.2% | 3.6% | ||
| Q2 25 | -102.6% | 0.6% | ||
| Q1 25 | -58.3% | 0.3% | ||
| Q4 24 | -13.6% | 0.5% | ||
| Q3 24 | — | -2.5% | ||
| Q2 24 | -5.9% | -2.6% | ||
| Q1 24 | -12.2% | -15.5% |
| Q4 25 | -2732.2% | 0.8% | ||
| Q3 25 | -2063.6% | 2.0% | ||
| Q2 25 | -34.1% | -1.3% | ||
| Q1 25 | -46.5% | -1.3% | ||
| Q4 24 | -10.7% | -1.3% | ||
| Q3 24 | — | -4.2% | ||
| Q2 24 | -5.1% | -26.7% | ||
| Q1 24 | -10.9% | -10.1% |
| Q4 25 | $-5.91 | $0.01 | ||
| Q3 25 | $-21.86 | $0.04 | ||
| Q2 25 | $-0.77 | $-0.02 | ||
| Q1 25 | $-1.32 | $-0.02 | ||
| Q4 24 | $-0.64 | $-0.02 | ||
| Q3 24 | — | $-0.07 | ||
| Q2 24 | $-0.36 | $-0.41 | ||
| Q1 24 | $-0.50 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $5.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $880.9M | $35.2M |
| Total Assets | $892.9M | $73.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $5.1M | ||
| Q3 25 | — | $3.0M | ||
| Q2 25 | — | $3.6M | ||
| Q1 25 | — | $1.3M | ||
| Q4 24 | — | $839.0K | ||
| Q3 24 | — | $1.8M | ||
| Q2 24 | — | $1.4M | ||
| Q1 24 | — | $4.5M |
| Q4 25 | $880.9M | $35.2M | ||
| Q3 25 | $1.5B | $34.8M | ||
| Q2 25 | $3.4M | $34.2M | ||
| Q1 25 | $3.6M | $34.2M | ||
| Q4 24 | $2.3M | $34.1M | ||
| Q3 24 | — | $34.1M | ||
| Q2 24 | $1.4M | $34.6M | ||
| Q1 24 | $1.8M | $38.7M |
| Q4 25 | $892.9M | $73.0M | ||
| Q3 25 | $1.5B | $73.2M | ||
| Q2 25 | $8.3M | $72.7M | ||
| Q1 25 | $12.3M | $70.4M | ||
| Q4 24 | — | $71.0M | ||
| Q3 24 | — | $71.9M | ||
| Q2 24 | $15.2M | $72.8M | ||
| Q1 24 | $15.2M | $79.1M |
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 | $2.1M |
| Free Cash FlowOCF − Capex | — | $2.0M |
| FCF MarginFCF / Revenue | — | 9.0% |
| Capex IntensityCapex / Revenue | 0.0% | 0.3% |
| Cash ConversionOCF / Net Profit | — | 12.13× |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.9M | $2.1M | ||
| Q3 25 | $-4.5M | $-311.0K | ||
| Q2 25 | $-1.2M | $2.2M | ||
| Q1 25 | $-537.6K | $601.0K | ||
| Q4 24 | $-434.3K | $-244.0K | ||
| Q3 24 | — | $2.4M | ||
| Q2 24 | $436.0K | $197.0K | ||
| Q1 24 | — | $840.0K |
| Q4 25 | — | $2.0M | ||
| Q3 25 | $-4.5M | $-419.0K | ||
| Q2 25 | $-1.2M | $2.2M | ||
| Q1 25 | $-539.0K | $574.0K | ||
| Q4 24 | $-439.7K | $-418.0K | ||
| Q3 24 | — | $2.1M | ||
| Q2 24 | $426.8K | $28.0K | ||
| Q1 24 | — | $697.0K |
| Q4 25 | — | 9.0% | ||
| Q3 25 | -57.0% | -2.1% | ||
| Q2 25 | -50.0% | 11.4% | ||
| Q1 25 | -17.3% | 3.0% | ||
| Q4 24 | -6.6% | -2.3% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | 5.5% | 0.2% | ||
| Q1 24 | — | 5.2% |
| Q4 25 | 0.0% | 0.3% | ||
| Q3 25 | 0.3% | 0.5% | ||
| Q2 25 | 0.8% | 0.2% | ||
| Q1 25 | 0.0% | 0.1% | ||
| Q4 24 | 0.1% | 0.9% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | 0.1% | 1.0% | ||
| Q1 24 | — | 1.1% |
| Q4 25 | — | 12.13× | ||
| Q3 25 | — | -0.79× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
RFIL
| US | $20.9M | 92% |
| Non Us | $1.8M | 8% |
