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FGIWW

FGI Industries Ltd.

FGIWW

FGI Industries Ltd. • NASDAQ
$0.06 ▼ -15.83% (-0.01)
Market Cap $115190
52w High $0.11
52w Low $0.05
Dividend Yield 0%
P/E 0
Volume 20
Outstanding Shares 1.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $35.849M ▲ $8.946M ▼ $-1.651M ▼ -4.606% ▼ $-0.86 ▼ $1.041M ▲
Q2-2025 $30.998M ▼ $9.539M ▼ $-1.232M ▼ -3.973% ▼ $-0.64 ▼ $-557.691K ▼
Q1-2025 $33.213M ▼ $10.181M ▲ $-629.092K ▼ -1.894% ▼ $-0.066 ▼ $-541.924K ▼
Q4-2024 $35.594M ▼ $10.005M ▲ $-402.328K ▲ -1.13% ▲ $-0.042 ▲ $372.425K ▼
Q3-2024 $36.099M $9.374M $-550.137K -1.524% $-0.058 $612.359K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.876M ▼ $73.038M ▲ $54.6M ▲ $19.742M ▼
Q2-2025 $2.519M ▲ $71.702M ▲ $51.426M ▲ $21.283M ▼
Q1-2025 $1.226M ▼ $68.462M ▼ $47.549M ▼ $21.787M ▼
Q4-2024 $4.558M ▲ $75.461M ▲ $53.896M ▲ $22.253M ▼
Q3-2024 $3.045M $74.665M $51.761M $23.518M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.651M ▼ $-1.866M ▼ $-262.696K ▼ $1.518M ▲ $-643.435K ▼ $-2.129M ▼
Q2-2025 $-1.364M ▼ $1.847M ▲ $-180.995K ▲ $-613.055K ▲ $1.293M ▲ $1.641M ▲
Q1-2025 $-629.092K ▼ $-1.652M ▼ $-450.155K ▲ $-1.331M ▼ $-3.332M ▼ $-2.002M ▼
Q4-2024 $-402.328K ▲ $617.428K ▲ $-831.552K ▼ $2.017M ▼ $1.513M ▼ $-214.124K ▲
Q3-2024 $-698.248K $-914.967K $-184.845K $2.793M $1.738M $-1.1M

Revenue by Products

Product Q2-2024Q1-2025Q2-2025Q3-2025
Bath Furniture
Bath Furniture
 $0 ▲$0 ▲$0 ▲$0 ▲
Others
Others
 $0 ▲$0 ▲$0 ▲$0 ▲
Sanitaryware
Sanitaryware
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement FGI’s income statement shows a very small, mature business that has struggled to grow meaningfully and has recently slipped back toward break‑even or slight loss. Revenue has hovered in a fairly narrow range over the past few years, with a peak a few years ago and some softening since then, which fits a cyclical, housing‑linked market. Gross profit has been relatively steady, suggesting basic product economics are intact, but operating and net income have compressed, indicating that overhead, freight, or pricing pressure have eaten into profitability. Earnings per share have swung from solidly positive to negative more recently, underlining that even modest shifts in demand or costs can have a big impact at this company’s scale.

Balance Sheet

Balance Sheet The balance sheet is small and fairly lean, with limited cash, modest total assets, and a thin equity base. Debt is present but not extreme, so leverage exists but is not overwhelming; however, because the equity cushion is small, the company does not have a lot of room for major missteps. The business appears to follow a capital‑light approach, relying more on working capital than heavy investment in plants or equipment. This structure can support reasonable returns when conditions are good, but it also means financial flexibility is somewhat constrained if markets weaken or if the company wants to fund larger growth initiatives internally.

Cash Flow

Cash Flow Cash flow has been roughly around break‑even, with the most recent period tipping slightly negative on operating cash. That suggests the company is not burning cash aggressively but also is not generating a strong cash surplus from its current operations. Capital spending is minimal, which aligns with the capital‑light model and keeps free cash flow closely tied to operating performance. The downside is that any pressure on earnings or working capital can quickly show up as weaker cash flow, so ongoing discipline in inventory, receivables, and cost management remains important.

Competitive Edge

Competitive Edge FGI operates in a crowded, price‑sensitive kitchen and bath market, but it has some meaningful anchors: long relationships with large retailers and wholesalers, established brands, and a broad product range that can cover various price points. Its “brands, products, and channels” focus is designed to deepen shelf space with existing partners rather than trying to outspend larger rivals on marketing. The company’s capital‑light, globally sourced model helps it stay flexible and scale with demand. At the same time, dependence on big retail customers, exposure to housing and remodeling cycles, and intense competition from private labels and larger brands all limit its bargaining power and leave little room for operational missteps.

Innovation and R&D

Innovation and R&D Innovation is a clear strategic focus. FlushGuard, the anti‑overflow toilet technology, is a differentiated, patented solution with industry recognition, giving FGI a talking point and potential premium positioning in an otherwise commoditized category. The Isla Porter digital cabinetry venture shows a push into AI‑enabled design and a more modern, app‑based customer journey, which could open higher‑margin, design‑driven revenue streams if adopted widely. The company is also using technology for internal efficiency, such as AI tools and warehouse optimization. The main uncertainties are execution and adoption: turning awards and prototypes into sustained volume, defending intellectual property, and scaling digital offerings in a traditional industry.

Summary

Overall, FGI looks like a small, niche kitchen and bath supplier trying to evolve from a stable but low‑growth, thin‑margin business into a more innovative, higher‑value player. Financially, the company is near break‑even, with modest leverage, a slim equity cushion, and only limited room for prolonged weakness, which makes consistent execution important. Strategically, its strengths lie in long‑standing customer relationships, a capital‑light model, and a few promising innovations such as FlushGuard and digital cabinetry. The key watch points are whether it can convert these innovations into meaningful, durable revenue and margin gains, manage reliance on large retail partners, and navigate cyclical housing demand without stressing its already tight financial profile.