FWDI
Forward Industries, Inc.
FWDI has a slight edge over GME overall, supported by stronger modeled upside and lower modeled downside.
GME
GameStop Corp.
GME offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
FWDI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Weak | |
| Strong |
FWDI's revenue and balance sheet are currently strong, but its profitability and cash flow are weak.
GME Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Unavailable |
GME's profitability and cash flow are currently strong, and its revenue is stable. There isn't enough data to rate its balance sheet.
FWDI PE Valuation
FWDI has no meaningful PE right now: it lost money over the past year.
GME PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 17x | $25.62 | — |
| Cheap | 18x | $27.96 | +9.1% |
| Forward | 38x | $25.62 | — |
| Fair | 43x | $66.84 | +161% |
| Expensive | 252x | $388 | +1414% |
Historical ranges are pointers, not guarantees.
GME's PE is in its cheap range at 17x. Analysts expect earnings to fall, which would put today's price at 38x next year's earnings, in its fair range.
FWDI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| -- | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for FWDI, with profitability holding steady. However, they disagree widely on these estimates.
GME Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong decline | |
| Strong decline | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect GME's earnings and revenue to decline, with profitability weakening.
FWDI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.28 | — |
| Q2 2026 | -$31.55 | -$27.50 |
| Q1 2026 | -$31.52 | -$27.88 |
| Q4 2025 | -$29.86 | -$27.04 |
| Q3 2025 | -$24.59 | -$22.01 |
| Q2 2025 | -$4.05 | -$0.89 |
| Q1 2025 | -$3.64 | -$0.34 |
| Q4 2024 | -$2.82 | +$0.88 |
| Q3 2024 | -$2.58 | +$1.12 |
FWDI lost $31.55 per share over the past year, and its loss has widened in each of the last seven quarters.
GME Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.67 | -56% |
| Q3 2026 | $1.54 | +93% |
| Q2 2026 | $1.34 | +153% |
| Q1 2026 | $0.77 | +133% |
| Q4 2025 | $0.89 | +394% |
| Q3 2025 | $0.80 | +515% |
| Q2 2025 | $0.53 | +563% |
| Q1 2025 | $0.33 | +1550% |
| Q4 2024 | $0.18 | +$0.21 |
GME has the edge over FWDI on earnings quality, reporting a profit while its opponent remains loss making.
FWDI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $10.8M | +332% |
| Q1 2026 | $13M | +315% |
| Q4 2025 | $21.4M | +224% |
| Q3 2025 | $7.9M | +8.4% |
| Q2 2025 | $2.5M | -68% |
| Q1 2025 | $3.1M | -60% |
| Q4 2024 | $6.6M | -7.5% |
| Q3 2024 | $7.3M | +44% |
FWDI has the edge over GME on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -652% | -549 points |
| Q1 2026 | -2192% | -2134 points |
| Q4 2025 | -2723% | -2712 points |
| Q3 2025 | -39% | -31 points |
| Q2 2025 | -103% | -98 points |
| Q1 2025 | -58% | -51 points |
| Q4 2024 | -11% | -5.4 points |
| Q3 2024 | -8.6% | -48 points |
FWDI's operating margin was −652% last quarter, down 549 points from the same quarter a year ago, near the bottom of its range since 2019.
GME Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $790.2M | -19% |
| Q2 2026 | $835.3M | +14% |
| Q1 2026 | $1.1B | -14% |
| Q4 2025 | $821M | -4.6% |
| Q3 2025 | $972.2M | +22% |
| Q2 2025 | $732.4M | -17% |
| Q1 2025 | $1.3B | -28% |
| Q4 2024 | $860.3M | -20% |
GME's revenue has slid since its 2022 peak: $790M last quarter, down 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +13 points |
| Q2 2026 | 17% | +19 points |
| Q1 2026 | 12% | +6 points |
| Q4 2025 | 5% | +8.9 points |
| Q3 2025 | 6.8% | +9.6 points |
| Q2 2025 | -1.5% | +4.3 points |
| Q1 2025 | 6.2% | +3.1 points |
| Q4 2024 | -3.9% | -2.5 points |
GME has the edge over FWDI on profitability, with a higher operating margin.
FWDI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$3.4M | -$2.1M |
| Q1 2026 | -$4.8M | -$4.2M |
| Q4 2025 | -$7.9M | -$7.5M |
| Q3 2025 | -$2.3M | -597% |
| Q2 2025 | -$1.2M | -379% |
| Q1 2025 | -$563.2K | +$101.7K |
| Q4 2024 | -$415.6K | -531% |
| Q3 2024 | $463.7K | +1% |
FWDI has burned cash in seven of the last eight quarters: −$18M over the past year, against −$2M the year before.
GME Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $60.7M | -46% |
| Q2 2026 | $332.9M | +76% |
| Q1 2026 | $187.4M | +18% |
| Q4 2025 | $107M | +435% |
| Q3 2025 | $113.3M | +73% |
| Q2 2025 | $189.6M | +$304.3M |
| Q1 2025 | $158.8M | +$177.5M |
| Q4 2024 | $20M | +80% |
GME has the edge over FWDI on cash generation, producing positive trailing cash flow while its opponent burns cash.
FWDI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -8.7% | -8.2M shares |
| 1 year | +7774% | +85.6M shares |
| 3 years | +8517% | +85.7M shares |
| 5 years | +8649% | +85.7M shares |
| Available history | +8995% | +85.7M shares |
FWDI has 87M diluted shares, up 7774% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $11.8M |
| Q1 2026 | $47.1M |
| Q4 2025 | $10.9M |
GME Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +300K shares |
| 1 year | +8.4% | +46.1M shares |
| 3 years | +94% | +288M shares |
| 5 years | +104% | +302M shares |
| Available history | +80% | +264M shares |
GME has the edge over FWDI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2021 | — |
| Q4 2020 | — |
| Q1 2020 | $21.8M |
| Q4 2019 | $114M |
FWDI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2024 | -1.9x | Net Cash |
| Q1 2024 | -1.7x | Net Cash |
| Q4 2023 | -3.9x | Net Cash |
| Q3 2023 | -4.4x | Net Cash |
| Q1 2022 | -0.1x | Net Cash |
FWDI has more cash than debt.
GME Net Leverage
FWDI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.1 | Neutral |
| Stochastic | 37.8 | Neutral |
FWDI's weekly RSI is 43 (neutral) and its Stochastic is 38 (neutral).
GME Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.9 | Neutral |
| Stochastic | 68.5 | Neutral |
GME's weekly RSI is 60 (neutral) and its Stochastic is 69 (neutral).
FWDI PE vs Consumer Cyclical Sector
| Metric | FWDI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 18x | — |
FWDI has no meaningful PE right now: it lost money over the past year.
GME PE vs Consumer Cyclical Sector
| Metric | GME | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 18x | 7.7% below |
| PE % | 15 | 47 | 32 pts below |
GME is trading at 17x earnings, in line with the Consumer Cyclical sector's median of 18x.
FWDI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.85 | 26% below |
| 20 week MA | $5.80 | 12% below |
| 50 week MA | $5.57 | 8.8% below |
| 100 week MA | $7.85 | 35% below |
| 200 week MA | $7.50 | 32% below |
FWDI is in a downtrend: it's below all five of its weekly moving averages, and 32% below its 200-week average.
GME Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.2 | 1.8% above |
| 20 week MA | $22.4 | 15% above |
| 50 week MA | $22.6 | 13% above |
| 100 week MA | $24.0 | 7% above |
| 200 week MA | $21.8 | 17% above |
GME has the edge over FWDI on trend strength, trading above more of its moving averages.
FWDI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.94 | $18.8 | +89% |
| 2021 | $18.8 | $16.0 | -15% |
| 2022 | $16.0 | $11.2 | -30% |
| 2023 | $11.2 | $7.29 | -35% |
| 2024 | $7.29 | $5.16 | -29% |
| 2025 | $5.16 | $7.03 | +36% |
| 2026 YTD | $7.03 | $5.08 | -28% |
FWDI has finished lower in four of the last six years. It's down 28% so far in 2026.
GME Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.48 | $5.04 | +241% |
| 2021 | $5.04 | $38.0 | +655% |
| 2022 | $38.0 | $20.1 | -47% |
| 2023 | $20.1 | $17.5 | -13% |
| 2024 | $17.5 | $32.2 | +84% |
| 2025 | $32.2 | $21.1 | -35% |
| 2026 YTD | $21.1 | $25.6 | +21% |
GME has the edge over FWDI on returns for 2026, with the stronger performance.