FGI Industries Ltd. Ordinary Shares (FGI)

FairStock Score: 34/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable competitive advantages, conservative balance sheets, and a margin of safety. FGI Industries is a small supplier of bath and kitchen products, with a $13.9M market cap at the 2026-10-13 close of $7.19. The Lynch category FairStock computes is TURNAROUND, a loss in the latest year after earlier profits, and the numbers show why. In FY2025, the year ended 2025-12-31, revenue was $130.5M and net loss was $6.1M, or diluted EPS -$3.20. That followed FY2024, the year ended 2024-12-31, with revenue of $131.8M and net loss of $1.2M, or diluted EPS -$0.63. FY2023, the year ended 2023-12-31, was profitable with net income of $733,604 and diluted EPS $0.07, so the recent deterioration is severe. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, offers a flicker: revenue $31.9M, net income $1.3M, diluted EPS $0.65. But fiscal Q1 2026 ended 2026-03-31 lost $969,405, so one quarter does not make a trend. FairStock's calculations at the 2026-10-13 close show P/B 0.81, P/E -3.49, ROE -28.08%, ROCE 0.38%, D/E 1.57, and Altman Z 0.78. The low price-to-book and 12.5% TTM FCF yield are attractive, while Piotroski 8/9 suggests some accounting improvement. Still, high leverage, a weak Z-score, falling revenue, and a 2.31 beta mean the equity is speculative. I would want several quarters of positive earnings and cash flow plus debt reduction before calling this a sound value. Without a moat or consistent profits, it is a cigar-butt turnaround at best.

In plain English: FGI Industries makes bathroom and kitchen products, such as toilets, sinks, vanities, and cabinets. It lost money in its latest full year and sales have been falling, but the most recent quarter showed a small profit and the stock trades below its accounting book value. At $7.19, the shares look cheap on assets, but the losses, debt, and swing in results make it a risky situation.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer