FGI · Fgi Industries Ltd. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Revenue | $130.53M | $131.82M | $117.24M | $181.94M |
| Cost of Revenue | $95.28M | $96.39M | $85.16M | $149.74M |
| Gross Profit | $35.25M | $35.43M | $32.08M | $32.20M |
| R&D | $1.42M | $1.70M | $1.38M | $646.1K |
| SG&A | $11.11M | $10.20M | $8.42M | $7.83M |
| Total Operating Expenses | $37.65M | $37.53M | $29.77M | $24.48M |
| D&A | $667.4K | $474.8K | $2.02M | $287.1K |
| Operating Income | ($2.40M) | ($2.10M) | $2.30M | $7.72M |
| Interest Expense | $1.33M | $1.25M | $749.7K | $600.8K |
| Income Tax | $2.79M | ($547.8K) | $808.2K | $860.6K |
| Net Income | ($6.14M) | ($1.20M) | $733.6K | $7.91M |
| EPS - Basic | ($3.20) | ($0.13) | $0.08 | $0.39 |
| EPS - Diluted | ($3.20) | ($0.13) | $0.07 | $1.13 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash & Equivalents | $1.90M | $4.60M | $7.80M | $10.10M |
| Accounts Receivable | $13.85M | $20.29M | $16.20M | $14.30M |
| Inventory | $15.29M | $13.96M | $9.92M | $13.29M |
| Accounts Payable | - | - | - | $14.72M |
| Current Assets | $51.54M | $52.90M | $46.11M | $45.89M |
| Total Assets | $69.54M | $75.46M | $65.74M | $60.37M |
| Current Liabilities | $43.91M | $42.54M | $28.04M | $29.78M |
| Long-term Debt | - | - | - | - |
| Total Liabilities | $53.93M | $53.90M | $41.72M | $37.62M |
| Stockholders' Equity | $17.28M | $22.25M | $24.18M | $22.74M |
| Retained Earnings | ($2.93M) | $3.21M | $4.41M | $3.68M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Operating Cash Flow | $673.2K | ($7.43M) | $1.39M | ($3.22M) |
| Investing Cash Flow | ($1.02M) | ($2.88M) | ($942.6K) | ($51.9K) |
| Financing Cash Flow | ($2.63M) | $7.54M | ($2.84M) | $3.32M |
| CapEx | $885.7K | $2.21M | $840.4K | $57.8K |
| Free Cash Flow | ($212.5K) | ($9.63M) | $549.3K | ($3.28M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Profitability | ||||
| Gross margin | 27.0% | 26.9% | 27.4% | 17.7% |
| Operating margin | -1.8% | -1.6% | 2.0% | 4.2% |
| EBITDA margin | -1.3% | -1.2% | 3.7% | 4.4% |
| Net margin | -4.7% | -0.9% | 0.6% | 4.3% |
| Free cash flow margin | -0.2% | -7.3% | 0.5% | -1.8% |
| FCF / Net income | 0.03 | 8.02 | 0.75 | -0.41 |
| R&D / Revenue | 1.1% | 1.3% | 1.2% | 0.4% |
| SG&A / Revenue | 8.5% | 7.7% | 7.2% | 4.3% |
| Effective tax rate | - | - | 52.4% | 9.8% |
| Return on assets | -8.8% | -1.6% | 1.1% | 13.1% |
| Return on equity | -35.5% | -5.4% | 3.0% | 34.8% |
| Return on invested capital | - | - | - | - |
| Liquidity | ||||
| Current ratio | 1.17 | 1.24 | 1.64 | 1.54 |
| Quick ratio | 0.83 | 0.92 | 1.29 | 1.09 |
| Cash ratio | 0.04 | 0.11 | 0.28 | 0.34 |
| Leverage | ||||
| Debt / Equity | - | - | - | - |
| Debt / Assets | - | - | - | - |
| Debt / EBITDA | - | - | - | - |
| Interest coverage | -1.8x | -1.7x | 3.1x | 12.9x |
| Equity multiplier | 4.02 | 3.39 | 2.72 | 2.65 |
| Liabilities / Assets | 0.78 | 0.71 | 0.63 | 0.62 |
| Efficiency | ||||
| Asset turnover | 1.88 | 1.75 | 1.78 | 3.01 |
| Inventory turnover | 6.23 | 6.91 | 8.58 | 11.26 |
| Days sales outstanding | 39d | 56d | 50d | 29d |
| Days inventory outstanding | 59d | 53d | 43d | 32d |
| Days payable outstanding | - | - | - | 36d |
| Cash conversion cycle | - | - | - | 25d |
| Valuation | ||||
| P / E | - | - | - | - |
| P / B | - | - | - | - |
| P / S | - | - | - | - |
| EV / EBITDA | - | - | - | - |
| Growth | ||||
| Revenue growth (YoY) | -1.0% | 12.4% | -35.6% | - |
| Revenue CAGR (3y) | -10.5% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - |
| Gross profit growth (YoY) | -0.5% | 10.4% | -0.4% | - |
| Operating income growth (YoY) | -14.4% | - | -70.2% | - |
| Net income growth (YoY) | -411.2% | - | -90.7% | - |
| EPS growth (YoY) | -2361.5% | - | -93.8% | - |
| EPS CAGR (3y) | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - |
| FCF growth (YoY) | 97.8% | - | - | - |
| FCF CAGR (5y) | - | - | - | - |
| Book value growth (YoY) | -22.3% | -8.0% | 6.3% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$130.53M totalKitchen And Bath Segment$130.53M · 100.0%
Product / service
$130.53M totalSanitaryware$80.33M · 61.5%
Shower System$22.58M · 17.3%
Bath Furniture Products$14.20M · 10.9%
Kitchen And Bath Other$13.41M · 10.3%
Geographic
$130.53M totalUS$80.69M · 61.8%
CA$33.35M · 25.5%
Europe$14.21M · 10.9%
Countries Other Than United States Canada And Europe$2.28M · 1.7%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.94
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures
Comparing FGI Industries Ltd. against the 2 most active filers in the same SIC group.