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Side-by-side financial comparison of Forward Industries, Inc. (FWDI) and SYPRIS SOLUTIONS INC (SYPR). Click either name above to swap in a different company.
SYPRIS SOLUTIONS INC is the larger business by last-quarter revenue ($30.3M vs $21.4M, roughly 1.4× Forward Industries, Inc.). SYPRIS SOLUTIONS INC runs the higher net margin — -12.9% vs -2732.2%, a 2719.3% gap on every dollar of revenue. On growth, Forward Industries, Inc. posted the faster year-over-year revenue change (224.0% vs -9.5%). Over the past eight quarters, Forward Industries, Inc.'s revenue compounded faster (74.6% CAGR vs -7.7%).
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.
Sypris Solutions Inc. is a U.S.-headquartered provider of highly engineered components and specialized technical services, primarily serving aerospace, defense, automotive and commercial industrial markets. It delivers custom manufacturing, performance testing, and value-added engineering support for mission-critical systems and parts for global enterprise clients.
FWDI vs SYPR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.4M | $30.3M |
| Net Profit | $-585.7M | $-3.9M |
| Gross Margin | 78.6% | 4.6% |
| Operating Margin | -2722.8% | -10.9% |
| Net Margin | -2732.2% | -12.9% |
| Revenue YoY | 224.0% | -9.5% |
| Net Profit YoY | -82611.5% | -2992.6% |
| EPS (diluted) | $-5.91 | $-0.17 |
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 | $30.3M | ||
| Q3 25 | $7.9M | $28.7M | ||
| Q2 25 | $2.5M | $31.4M | ||
| Q1 25 | $3.1M | $29.5M | ||
| Q4 24 | $6.6M | $33.4M | ||
| Q3 24 | — | $35.7M | ||
| Q2 24 | $7.8M | $35.5M | ||
| Q1 24 | $5.1M | $35.6M |
| Q4 25 | $-585.7M | $-3.9M | ||
| Q3 25 | $-164.0M | $517.0K | ||
| Q2 25 | $-850.0K | $-2.1M | ||
| Q1 25 | $-1.5M | $-899.0K | ||
| Q4 24 | $-708.1K | $135.0K | ||
| Q3 24 | — | $390.0K | ||
| Q2 24 | $-399.6K | $16.0K | ||
| Q1 24 | $-553.2K | $-2.2M |
| Q4 25 | 78.6% | 4.6% | ||
| Q3 25 | 61.1% | 7.2% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | -5.7% | 11.4% | ||
| Q4 24 | 17.1% | 16.1% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | 16.8% | 15.9% | ||
| Q1 24 | 26.2% | 8.1% |
| Q4 25 | -2722.8% | -10.9% | ||
| Q3 25 | -39.2% | -6.1% | ||
| Q2 25 | -102.6% | -4.6% | ||
| Q1 25 | -58.3% | -0.4% | ||
| Q4 24 | -13.6% | 3.9% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | -5.9% | 3.6% | ||
| Q1 24 | -12.2% | -3.9% |
| Q4 25 | -2732.2% | -12.9% | ||
| Q3 25 | -2063.6% | 1.8% | ||
| Q2 25 | -34.1% | -6.5% | ||
| Q1 25 | -46.5% | -3.0% | ||
| Q4 24 | -10.7% | 0.4% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | -5.1% | 0.0% | ||
| Q1 24 | -10.9% | -6.2% |
| Q4 25 | $-5.91 | $-0.17 | ||
| Q3 25 | $-21.86 | $0.02 | ||
| Q2 25 | $-0.77 | $-0.09 | ||
| Q1 25 | $-1.32 | $-0.04 | ||
| Q4 24 | $-0.64 | $0.00 | ||
| Q3 24 | — | $0.02 | ||
| Q2 24 | $-0.36 | $0.00 | ||
| Q1 24 | $-0.50 | $-0.10 |
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 | — | — |
| Stockholders' EquityBook value | $880.9M | $17.8M |
| Total Assets | $892.9M | $107.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $880.9M | $17.8M | ||
| Q3 25 | $1.5B | $20.0M | ||
| Q2 25 | $3.4M | $18.7M | ||
| Q1 25 | $3.6M | $19.0M | ||
| Q4 24 | $2.3M | $19.6M | ||
| Q3 24 | — | $18.2M | ||
| Q2 24 | $1.4M | $19.0M | ||
| Q1 24 | $1.8M | $20.8M |
| Q4 25 | $892.9M | $107.8M | ||
| Q3 25 | $1.5B | $112.5M | ||
| Q2 25 | $8.3M | $105.8M | ||
| Q1 25 | $12.3M | $110.2M | ||
| Q4 24 | — | $119.4M | ||
| Q3 24 | — | $121.6M | ||
| Q2 24 | $15.2M | $124.2M | ||
| Q1 24 | $15.2M | $129.0M |
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 | $-1.1M |
| Free Cash FlowOCF − Capex | — | $-1.5M |
| FCF MarginFCF / Revenue | — | -5.0% |
| Capex IntensityCapex / Revenue | 0.0% | 1.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-6.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.9M | $-1.1M | ||
| Q3 25 | $-4.5M | $-178.0K | ||
| Q2 25 | $-1.2M | $1.1M | ||
| Q1 25 | $-537.6K | $-5.5M | ||
| Q4 24 | $-434.3K | $2.3M | ||
| Q3 24 | — | $-4.8M | ||
| Q2 24 | $436.0K | $6.2M | ||
| Q1 24 | — | $-1.7M |
| Q4 25 | — | $-1.5M | ||
| Q3 25 | $-4.5M | $-390.0K | ||
| Q2 25 | $-1.2M | $941.0K | ||
| Q1 25 | $-539.0K | $-5.5M | ||
| Q4 24 | $-439.7K | $1.9M | ||
| Q3 24 | — | $-4.9M | ||
| Q2 24 | $426.8K | $6.0M | ||
| Q1 24 | — | $-2.0M |
| Q4 25 | — | -5.0% | ||
| Q3 25 | -57.0% | -1.4% | ||
| Q2 25 | -50.0% | 3.0% | ||
| Q1 25 | -17.3% | -18.8% | ||
| Q4 24 | -6.6% | 5.7% | ||
| Q3 24 | — | -13.8% | ||
| Q2 24 | 5.5% | 16.8% | ||
| Q1 24 | — | -5.7% |
| Q4 25 | 0.0% | 1.3% | ||
| Q3 25 | 0.3% | 0.7% | ||
| Q2 25 | 0.8% | 0.5% | ||
| Q1 25 | 0.0% | 0.0% | ||
| Q4 24 | 0.1% | 1.2% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | 0.1% | 0.5% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 17.13× | ||
| Q3 24 | — | -12.21× | ||
| Q2 24 | — | 385.25× | ||
| 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% |
SYPR
| Sypris Electronics | $17.7M | 59% |
| Transferred At Point In Time | $12.5M | 41% |
