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Forward IndustriesMEX:FORD1 37 ROC (Joel Greenblatt) % is -13,513.59% as of Jun. 2026. GuruFocus rates MEX:FORD1 with a GF Score™ of 37/100 and a GF Value™ of MXN2.67. The stock has 5 warning signs investors should review. Among 1,062 Manufacturing - Apparel & Accessories companies, Forward Industries ranks worse than 99.91% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Forward Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was -13,513.59%.
The historical rank and industry rank for Forward Industries's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:FORD1'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -21854.78 Med: 7.14 Max: 18.1
Current: -21854.78
During the past 13 years, Forward Industries's highest ROC (Joel Greenblatt) % was 18.10%. The lowest was -21854.78%. And the median was 7.14%.
MEX:FORD1's ROC (Joel Greenblatt) % is ranked worse than 99.91% of 1062
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 8.54
vs MEX:FORD1: -21854.78
Forward Industries's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Forward Industries ROC (Joel Greenblatt) % Related Terms
Forward Industries ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Forward Industries's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:FORD1 vs DBI, RCKY, FOSL: ROC (Joel Greenblatt) % Comparison
For the Footwear & Accessories subindustry, Forward Industries's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Forward Industries ROC (Joel Greenblatt) % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Forward Industries's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Forward Industries's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of -13,513.59% mean?
Forward Industries (MEX:FORD1) has a ROC (Joel Greenblatt) % of -13,513.59% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Forward Industries and its competitors. According to the industry distribution chart, Forward Industries ranks #1061 out of 1062 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 99.9%.
Is Forward Industries' ROC (Joel Greenblatt) % too high?
Forward Industries' current ROC (Joel Greenblatt) % is -13,513.59%. Based on the distribution chart, Forward Industries ranks #1061 out of 1062 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, Forward Industries has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Forward Industries' ROC (Joel Greenblatt) % compare to DBI and RCKY?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Forward Industries ranks #1061 out of 1062 companies for ROC (Joel Greenblatt) %. This places Forward Industries in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 8.54. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Manufacturing - Apparel & Accessories company?
The median ROC (Joel Greenblatt) % among Manufacturing - Apparel & Accessories companies is 8.54, based on 1,062 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Forward Industries and its competitors. For the Manufacturing - Apparel & Accessories industry, the median ROC (Joel Greenblatt) % is 8.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forward Industries's current ROC (Joel Greenblatt) % is -13,513.59%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forward Industries stock overvalued right now?
Forward Industries (MEX:FORD1) has a current ROC (Joel Greenblatt) % of -13,513.59%. The stock's GF Value™ is MXN2.67, compared to a current price of MXN63.41 — trading 2274.9% above its estimated fair value. The current ROC (Joel Greenblatt) % is -13,513.59%. Forward Industries' overall GF Score™ is 37/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Forward Industries (MEX:FORD1), the current ROC (Joel Greenblatt) % is -13,513.59% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Forward Industries (MEX:FORD1) Overvalued in 2026?
Based on GuruFocus' analysis, Forward Industries stock appears to be overvalued.
The current stock price of MXN63.41 is trading 2274.9% above its estimated GF Value™ of MXN2.67.
Key valuation signals for MEX:FORD1:
ROC (Joel Greenblatt) %: -13,513.59%
GF Value™: MXN2.67 vs. price of MXN63.41 (2274.9% above fair value)
No single metric tells the full story. See the MEX:FORD1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forward Industries Inc is a Solana-focused digital asset treasury company, with the idea to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. Its mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to, and investing in the Solana network, Solana developers, and Solana-related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, it launched a digital asset treasury idea supported by investors and operating partners, including Galaxy Digital and Jump Crypto.
37GF Score
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