FGI Industries Ltd (FGI)
NASDAQ:FGI
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FGI Industries Ltd
(NASDAQ:FGI)
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Rating:54Neutral
Price Target:
$8.50
▲(55.39% Upside)
Action:ReiteratedDate:04/28/26
The score is held back primarily by weak financial performance (ongoing losses, negative free cash flow, and elevated leverage). This is partly offset by strong technical momentum (price above key moving averages with a positive MACD) and a moderately supportive earnings-call outlook that guides to modest adjusted profitability despite tariff-driven demand volatility. Valuation remains a secondary drag given the negative P/E and no indicated dividend yield.
Positive Factors
Gross margin expansion
A 210 basis‑point lift to 26.7% indicates a structural shift toward higher‑margin product mix and better cost absorption. Sustained gross margin improvement underpins a durable path to operating profitability, insulating results against modest revenue volatility and supporting long‑term cash flow recovery.
Negative Factors
Elevated leverage
Debt exceeding equity with a ~1.36 debt‑to‑equity ratio materially limits financial flexibility. Elevated leverage raises interest and covenant vulnerability during continued losses, constraining capital allocation, increasing refinancing risk, and limiting the company's ability to invest in growth or weather prolonged demand weakness.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin expansion
A 210 basis‑point lift to 26.7% indicates a structural shift toward higher‑margin product mix and better cost absorption. Sustained gross margin improvement underpins a durable path to operating profitability, insulating results against modest revenue volatility and supporting long‑term cash flow recovery.
Read all positive factors
FGI Industries Ltd (FGI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.26M
Dividend YieldN/A
Average Volume (3M)1.60M
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue Growth-0.98%
EPS Growth-409.28%
CountryUS
Employees420
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-2.94
Shares Outstanding1,927,326
10 Day Avg. Volume489,456
30 Day Avg. Volume1,595,020
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.63
Price to Sales (P/S)0.08
P/FCF Ratio-51.44
Enterprise Value/Market Cap2.33
Enterprise Value/Revenue0.29
Enterprise Value/Gross Profit1.07
Enterprise Value/Ebitda-52.89
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.53
Revenue Forecast (FY)$143.23M
FGI Industries Ltd Business Overview & Revenue Model
Company Description
FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, and Europe. The company sells sanitaryware products, such as toilets, sinks, pedestals, and toilet seats; wood and wood-substitute furniture for bathrooms, includ...
How the Company Makes Money
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FGI Industries Ltd Earnings Call Summary
Earnings Call Date:Apr 09, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: meaningful near-term headwinds (Q4 revenue down 14.4%, gross profit down 6.8%, and a larger GAAP net loss) driven by tariff-related order disruption and geopolitical uncertainty, offset by solid margin expansion (+210 bps), lower operating expenses (~12% reduction), improved operating loss, modest improvement in adjusted net loss, stable full-year results (revenue and gross profit down <1%), clear sourcing diversification progress, and targeted 2026 guidance that implies a path to modest adjusted profitability. Given both substantive challenges and concrete operational and strategic positives, the tone is cautious but constructive.Positive Updates
Gross Margin Expansion
Gross margin expanded by 210 basis points to 26.7% in Q4 2025 (from 24.6% prior year), driven by stronger relative performance of higher-margin businesses.
Negative Updates
Quarterly Revenue Decline
Q4 2025 revenue was $30.5 million, a 14.4% decrease versus Q4 2024, driven by timing effects and tariff-related order disruptions.
Read all updates
Q4-2025 Updates
Positive
Negative
Gross Margin Expansion
Gross margin expanded by 210 basis points to 26.7% in Q4 2025 (from 24.6% prior year), driven by stronger relative performance of higher-margin businesses.
Read all positive updates
Company Guidance
FGI's full‑year 2026 guidance calls for revenue of $134.0M–$141.0M, adjusted operating income of $0.7M–$2.5M (excludes certain nonrecurring items), and adjusted net income of -$0.3M to +$1.1M (excludes nonrecurring items and includes a minority interest adjustment). Management framed this outlook against Q4/2025 results of $30.5M revenue (‑14.4% YoY), $8.1M gross profit (‑6.8% YoY), a 26.7% gross margin (up 210 bps from 24.6%), operating expenses of $8.8M (down from $10.0M), GAAP operating loss of $0.7M (improved from $1.3M), GAAP net loss attributable of $2.6M (vs. $0.4M), an adjusted Q4 net loss of $0.6M (vs. $0.7M), year‑end liquidity of $8.5M, and full‑year 2025 revenue and gross profit each down by less than 1% versus prior year.FGI Industries Ltd Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
44
Neutral
Cash Flow
33
Negative
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 130.53M | 131.82M | 117.24M | 161.72M | 181.94M |
| Gross Profit | 35.25M | 35.43M | 32.08M | 31.51M | 32.20M |
| EBITDA | 504.11K | 2.14M | 4.16M | 5.36M | 9.57M |
| Net Income | -6.14M | -1.20M | 733.60K | 3.68M | 7.91M |
Balance Sheet | |||||
| Total Assets | 69.54M | 75.46M | 65.74M | 60.37M | 69.15M |
| Cash, Cash Equivalents and Short-Term Investments | 1.90M | 4.56M | 7.78M | 10.07M | 3.88M |
| Total Debt | 23.58M | 27.72M | 22.23M | 19.19M | 22.86M |
| Total Liabilities | 53.93M | 53.90M | 41.72M | 37.62M | 61.60M |
| Stockholders Equity | 17.28M | 22.25M | 24.18M | 22.74M | 7.55M |
Cash Flow | |||||
| Free Cash Flow | -212.52K | -9.63M | 447.08K | -83.96K | -3.28M |
| Operating Cash Flow | 673.22K | -7.43M | 1.39M | 980.26K | -3.22M |
| Investing Cash Flow | -1.02M | -2.88M | -942.61K | -1.06M | -51.89K |
| Financing Cash Flow | -2.63M | 7.54M | -2.84M | 7.01M | 3.32M |
FGI Industries Ltd Technical Analysis
Positive
5.47
Price Trends
4.60
Positive
5.54
Positive
5.20
Positive
Market Momentum
0.17
Negative
70.49
Negative
81.99
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FGI, the sentiment is Positive. The current price of 5.47 is above the 20-day moving average (MA) of 4.06, above the 50-day MA of 4.60, and above the 200-day MA of 5.20, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 70.49 is Negative, neither overbought nor oversold. The STOCH value of 81.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FGI.
FGI Industries Ltd Risk Analysis
FGI Industries Ltd disclosed 52 risk factors in its most recent earnings report. FGI Industries Ltd reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
FGI Industries Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | $130.87M | -5.34 | -14.75% | 7.20% | -23.22% | -111.83% | |
54 Neutral | $16.26M | -1.78 | -18.10% | ― | -0.98% | -409.28% | |
52 Neutral | $30.44M | 4.73 | -23.80% | 12.12% | -4.02% | -478.28% | |
50 Neutral | $32.27M | -1.43 | -35.17% | ― | -4.96% | 11.36% | |
48 Neutral | $124.61M | 29.10 | 3.24% | 4.59% | 2.44% | ― |
* Consumer Cyclical Sector Average
FGI
FGI Industries Ltd
8.44
5.78
217.11%
BSET
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14.41
-2.59
-15.26%
CRWS
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2.85
0.18
6.59%
HOFT
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12.14
3.53
40.92%
NTZ
Natuzzi SPA
2.93
-0.92
-23.90%
FGI Industries Ltd Corporate Events
Business Operations and StrategyPrivate Placements and Financing
FGI Industries Amends and Extends Credit Facility Agreement
Neutral
Apr 2, 2026
On March 27, 2026, FGI Industries Ltd, through its subsidiary FGI Industries, Inc., amended and restated its business loan agreement with East West Bank, extending the maturity of its $18 million credit facility to April 17, 2027 while keeping bor...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.