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Side-by-side financial comparison of Forward Industries, Inc. (FWDI) and Spero Therapeutics, Inc. (SPRO). Click either name above to swap in a different company.
Forward Industries, Inc. is the larger business by last-quarter revenue ($21.4M vs $12.6M, roughly 1.7× Spero Therapeutics, Inc.). Spero Therapeutics, Inc. runs the higher net margin — 250.7% vs -2732.2%, a 2982.9% gap on every dollar of revenue. On growth, Spero Therapeutics, Inc. posted the faster year-over-year revenue change (24080.8% vs 224.0%). Over the past eight quarters, Spero Therapeutics, Inc.'s revenue compounded faster (847.7% CAGR vs 74.6%).
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.
FWDI vs SPRO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.4M | $12.6M |
| Net Profit | $-585.7M | $31.5M |
| Gross Margin | 78.6% | — |
| Operating Margin | -2722.8% | — |
| Net Margin | -2732.2% | 250.7% |
| Revenue YoY | 224.0% | 24080.8% |
| Net Profit YoY | -82611.5% | 250.9% |
| EPS (diluted) | $-5.91 | $0.56 |
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 | $12.6M | ||
| Q3 25 | $7.9M | $0 | ||
| Q2 25 | $2.5M | $0 | ||
| Q1 25 | $3.1M | $12.0K | ||
| Q4 24 | $6.6M | $52.0K | ||
| Q3 24 | — | $65.0K | ||
| Q2 24 | $7.8M | $114.0K | ||
| Q1 24 | $5.1M | $140.0K |
| Q4 25 | $-585.7M | $31.5M | ||
| Q3 25 | $-164.0M | $-7.4M | ||
| Q2 25 | $-850.0K | $-1.7M | ||
| Q1 25 | $-1.5M | $-13.9M | ||
| Q4 24 | $-708.1K | — | ||
| Q3 24 | — | $-17.1M | ||
| Q2 24 | $-399.6K | $-17.9M | ||
| Q1 24 | $-553.2K | $-12.7M |
| 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 | -2722.8% | — | ||
| Q3 25 | -39.2% | — | ||
| Q2 25 | -102.6% | — | ||
| Q1 25 | -58.3% | -122758.3% | ||
| Q4 24 | -13.6% | — | ||
| Q3 24 | — | -28604.6% | ||
| Q2 24 | -5.9% | -16720.2% | ||
| Q1 24 | -12.2% | -9987.1% |
| Q4 25 | -2732.2% | 250.7% | ||
| Q3 25 | -2063.6% | — | ||
| Q2 25 | -34.1% | — | ||
| Q1 25 | -46.5% | -115550.0% | ||
| Q4 24 | -10.7% | — | ||
| Q3 24 | — | -26380.0% | ||
| Q2 24 | -5.1% | -15668.4% | ||
| Q1 24 | -10.9% | -9049.3% |
| Q4 25 | $-5.91 | $0.56 | ||
| Q3 25 | $-21.86 | $-0.13 | ||
| Q2 25 | $-0.77 | $-0.03 | ||
| Q1 25 | $-1.32 | $-0.25 | ||
| Q4 24 | $-0.64 | — | ||
| Q3 24 | — | $-0.32 | ||
| Q2 24 | $-0.36 | $-0.33 | ||
| Q1 24 | $-0.50 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $40.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $880.9M | $59.0M |
| Total Assets | $892.9M | $68.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $40.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | — | $31.2M | ||
| Q1 25 | — | $48.9M | ||
| Q4 24 | — | $52.9M | ||
| Q3 24 | — | $76.3M | ||
| Q2 24 | — | $63.5M | ||
| Q1 24 | — | $82.3M |
| Q4 25 | $880.9M | $59.0M | ||
| Q3 25 | $1.5B | $26.5M | ||
| Q2 25 | $3.4M | $32.8M | ||
| Q1 25 | $3.6M | $33.8M | ||
| Q4 24 | $2.3M | $46.1M | ||
| Q3 24 | — | $65.5M | ||
| Q2 24 | $1.4M | $80.5M | ||
| Q1 24 | $1.8M | $96.2M |
| Q4 25 | $892.9M | $68.9M | ||
| Q3 25 | $1.5B | $54.2M | ||
| Q2 25 | $8.3M | $62.1M | ||
| Q1 25 | $12.3M | $77.7M | ||
| Q4 24 | — | $110.5M | ||
| Q3 24 | — | $135.2M | ||
| Q2 24 | $15.2M | $149.9M | ||
| Q1 24 | $15.2M | $167.7M |
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 | $-8.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | -0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.9M | $-8.4M | ||
| Q3 25 | $-4.5M | $17.4M | ||
| Q2 25 | $-1.2M | $-17.7M | ||
| Q1 25 | $-537.6K | $-4.0M | ||
| Q4 24 | $-434.3K | $-23.4M | ||
| Q3 24 | — | $12.8M | ||
| Q2 24 | $436.0K | $-18.7M | ||
| Q1 24 | — | $5.9M |
| 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 | — | -0.26× | ||
| Q3 25 | — | — | ||
| 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% |
SPRO
Segment breakdown not available.
