FGI Industries Ltd. FGI
FGI is a global, diversified and reputable supplier of quality bath and kitchen products. With over thirty years of experience, FGI has become a leading business to business supplier of bath and kitchen products to large retail, wholesale, commercial and specialty channel customers around the globe specializing in the home improvement and R&R (Repair & Remodel) markets. Some of our largest customers include The Home Depot, Menards, Ferguson and Lowe's. Throughout our history, we have achieved consistent and above-industry sales growth each year by executing on our strategic objectives which include offering well-designed, high-quality products, providing service that surpasses our competition and exceeds our customers' expectations, and managing an efficient and resilient global supply chain.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $130.5M | $131.8M | $117.2M | $161.7M | $181.9M | — |
| Cost of revenue | $95.3M | $96.4M | $85.2M | $130.2M | $149.7M | — |
| Gross profit | $35.3M | $35.4M | $32.1M | $31.5M | $32.2M | — |
| R&D | $1.4M | $1.7M | $1.4M | $1.1M | $646.1K | — |
| SG&A | $11.1M | $10.2M | $8.4M | $7.8M | $6.2M | — |
| Total operating expenses | $37.7M | $37.5M | $29.8M | $26.4M | $24.5M | — |
| Operating income | -$2.4M | -$2.1M | $2.3M | $5.1M | $7.7M | — |
| Interest expense | $1.3M | $1.2M | $749.7K | $600.8K | $411.2K | — |
| Pre-tax income | -$4.3M | -$2.3M | $1.4M | $4.5M | $8.9M | — |
| Income tax | $2.8M | $547.8K | $808.2K | $860.6K | $961.6K | — |
| Net income | -$6.1M | -$1.2M | $733.6K | $3.7M | $7.9M | — |
| EPS, basic | -3.20 | -0.63 | 0.08 | 0.39 | 1.13 | — |
| EPS, diluted | -3.20 | -0.63 | 0.07 | 0.39 | 1.13 | — |
| Shares, diluted (wtd. avg.) | $1.9M | $1.9M | $9.8M | $9.3M | $7.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $1.9M | $4.6M | $7.8M | $10.1M | $3.9M | $4.0M |
| Receivables | $13.8M | $20.3M | $16.2M | $14.3M | $26.4M | — |
| Inventory | $15.3M | $14.0M | $9.9M | $13.3M | $21.3M | — |
| Total current assets | $51.5M | $52.9M | $46.1M | $45.9M | $56.2M | — |
| Property, plant and equipment | $3.9M | $3.6M | $1.9M | $1.3M | $387.7K | — |
| Other intangibles | $1.7M | $1.8M | $102.2K | — | $42.7K | — |
| Total assets | $69.5M | $75.5M | $65.7M | $60.4M | $69.2M | — |
| Accounts payable | — | — | — | $14.7M | $32.0M | — |
| Short-term debt | $11.9M | $14.5M | $7.0M | $9.8M | $14.7M | — |
| Total current liabilities | $43.9M | $42.5M | $28.0M | $29.8M | $54.7M | — |
| Total liabilities | $53.9M | $53.9M | $41.7M | $37.6M | $61.6M | — |
| Retained earnings | -$2.9M | $3.2M | $4.4M | $3.7M | — | — |
| Total equity | $17.3M | $22.3M | $24.0M | $22.7M | $7.5M | $1.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $673.2K | -$7.4M | $2.2M | $980.3K | -$3.2M | — |
| Depreciation and amortisation | $667.4K | $474.8K | $200.8K | $176.0K | $201.7K | — |
| Stock-based compensation | $333.2K | $401.2K | $418.0K | $383.6K | — | — |
| Capital expenditure | $885.7K | $2.2M | $840.4K | $1.1M | $57.8K | — |
| Investing cash flow | -$1.0M | -$2.9M | -$1.8M | -$1.1M | -$51.9K | — |
| Financing cash flow | -$2.6M | $7.5M | -$2.8M | $7.0M | $3.3M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-024682.
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