Flexible Solutions International (FSI)
XASE:FSI
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Flexible Solutions International
(NYSE MKT:FSI)
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Rating:57Neutral
Price Target:
$6.50
▲(17.75% Upside)
Action:Reiterated
Date:05/19/26
The score is held back mainly by deteriorated recent profitability, negative free cash flow, and a loss-driven (negative) P/E. Offsetting these are a conservatively positioned balance sheet and a more optimistic near-term outlook from the earnings call tied to contract-driven revenue ramp and expected return to profitability, while technicals are neutral-to-modestly positive but still mixed versus the long-term trend.
Positive Factors
Conservative Balance Sheet
Extremely low leverage and a conservatively positioned balance sheet materially reduce financial risk. This durability gives the company flexibility to fund ramp programs, absorb cyclicality in ag markets, and pursue Panama/food production plans without immediate refinancing or equity dilution.
Negative Factors
Deteriorated Profitability & Cash Convert.
Substantial revenue decline and negative EBITDA/FCF indicate weakened operating leverage and impaired cash conversion. Without sustained margin recovery, the company may struggle to fund growth internally, making planned scale and profitability targets harder to achieve over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Extremely low leverage and a conservatively positioned balance sheet materially reduce financial risk. This durability gives the company flexibility to fund ramp programs, absorb cyclicality in ag markets, and pursue Panama/food production plans without immediate refinancing or equity dilution.
Read all positive factors
Flexible Solutions International (FSI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$80.37M
Dividend YieldN/A
Average Volume (3M)24.32K
Price to Earnings (P/E)97.6
Beta (1Y)1.69
Revenue Growth7.82%
EPS Growth-64.59%
CountryUS
Employees45
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.07
Shares Outstanding12,737,498
10 Day Avg. Volume18,371
30 Day Avg. Volume24,317
Financial Highlights & Ratios
PEG Ratio-1.46
Price to Book (P/B)2.19
Price to Sales (P/S)2.21
P/FCF Ratio-143.86
Enterprise Value/Market Cap1.15
Enterprise Value/Revenue2.34
Enterprise Value/Gross Profit8.05
Enterprise Value/Ebitda16.05
Forecast
1Y Price Target
$8.50Price Target Upside53.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.22
Revenue Forecast (FY)$54.01M
Flexible Solutions International Business Overview & Revenue Model
Company Description
Flexible Solutions International, Inc., headquartered in Taber, Canada, operates as a global enterprise focused on the development, manufacturing, and distribution of specialized chemicals primarily aimed at reducing water evaporation. The company...
How the Company Makes Money
FSI makes money primarily by selling its specialty chemical products (notably biodegradable polymer-based additives) to customers that use them in water treatment/industrial water management and agricultural applications. Revenue is generated from...
Flexible Solutions International Earnings Call Summary
Earnings Call Date:May 15, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Positive
The call conveyed a cautiously optimistic outlook: the company reported solid sequential operational progress (11% revenue growth, ~20% operating cash flow improvement), meaningful de-leveraging that freed >$2M in annual cash flow, and two food-grade contracts that could scale to over $50M combined annual revenue within 4–6 quarters. Offsetting these positives are continued net losses (albeit smaller), persistent agricultural market weakness, tariff and supply-chain headwinds (shipping delays and rising raw-material costs), and uncertainty around the Florida LLC receivable and turnaround. Management expects profitability in Q2 and stronger results in the second half of 2026, but several external risks and margin pressure remain.Positive Updates
Quarterly Revenue Growth
Sales for Q1 2026 increased 11% year-over-year to $8.3 million from $7.47 million in Q1 2025.
Negative Updates
Continued Net Loss and Profitability Not Yet Achieved
Company remains unprofitable in Q1 2026 with a net loss of $241,000; profitability is expected in Q2 but not yet realized.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue Growth
Sales for Q1 2026 increased 11% year-over-year to $8.3 million from $7.47 million in Q1 2025.
Read all positive updates
Company Guidance
Guidance highlights: management expects NCS to be 100% food‑grade by year‑end 2026 and Panama to complete the transfer of legacy industrial/ag products by year‑end 2026, with the two major food contracts (Jan‑2025 and Aug‑2025) targeting combined upside of >$50M/year — the Aug contract is a 5‑year deal with a $6.5M/year minimum and >$25M/year upside and is now at full 24/7 production — and significant revenue from the Jan contract should be visible in Q2 and ramp rapidly in Q3–Q4; little additional CapEx is needed to reach $13–15M/year and only $2–3M more to reach $25M; food margins are expected to normalize to roughly 22%–25% pre‑tax (currently lower due to tariff/inflation protection); Q1 sales rose 11% to $8.3M (from $7.47M), Q1 net loss narrowed to $241k ($0.02/sh) from $278k ($0.02/sh), operating cash flow was $575k ($0.05/sh) vs $480k ($0.04/sh) a year earlier, and management expects to return to profitability in Q2 with rapidly increasing profits in H2; tariffs on China imports run 15%–58.5%, the Panama plant is 30 minutes from the port (shortening delivery times), inventory is substantial but price increases may be needed in Q3 unless oil/raw material costs fall, ENP is seasonal with Q1 weakest and H2 growth, the ENP purchase loan was paid off June 2025 and the equipment note paid Dec 2025 (freeing >$2M/year), leaving only a small term loan and the Illinois mortgage, and working capital/credit lines are deemed adequate so no equity raise is planned.Flexible Solutions International Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
78
Positive
Cash Flow
53
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 38.52M | 38.23M | 38.32M | 45.84M | 34.42M |
| Gross Profit | 8.70M | 13.24M | 10.34M | 13.87M | 11.40M |
| EBITDA | 5.85M | 5.52M | 5.86M | 9.48M | 8.08M |
| Net Income | 786.89K | 3.04M | 2.78M | 7.02M | 3.45M |
Balance Sheet | |||||
| Total Assets | 61.83M | 59.97M | 55.47M | 51.59M | 39.55M |
| Cash, Cash Equivalents and Short-Term Investments | 8.01M | 10.03M | 7.71M | 6.82M | 6.74M |
| Total Debt | 10.81M | 10.81M | 10.04M | 9.14M | 4.88M |
| Total Liabilities | 19.00M | 18.60M | 17.20M | 16.35M | 11.85M |
| Stockholders Equity | 38.91M | 38.03M | 35.20M | 32.63M | 25.10M |
Cash Flow | |||||
| Free Cash Flow | -591.71K | 603.61K | 2.00M | -504.40K | 3.75M |
| Operating Cash Flow | 3.78M | 5.57M | 6.99M | 1.48M | 4.54M |
| Investing Cash Flow | 890.86K | -2.45M | -5.67M | -2.22M | -659.54K |
| Financing Cash Flow | -5.94M | -978.33K | -437.95K | 848.33K | -1.71M |
Flexible Solutions International Technical Analysis
Negative
5.52
Price Trends
6.21
Positive
5.90
Positive
7.06
Negative
Market Momentum
0.03
Positive
49.14
Neutral
30.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FSI, the sentiment is Negative. The current price of 5.52 is below the 20-day moving average (MA) of 6.38, below the 50-day MA of 6.21, and below the 200-day MA of 7.06, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 49.14 is Neutral, neither overbought nor oversold. The STOCH value of 30.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FSI.
Flexible Solutions International Risk Analysis
Flexible Solutions International disclosed 15 risk factors in its most recent earnings report. Flexible Solutions International reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Flexible Solutions International Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $441.67M | 14.56 | 12.66% | ― | -3.69% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | $80.37M | 97.62 | 2.11% | ― | 7.82% | -64.59% | |
52 Neutral | $76.41M | -98.53 | -1.07% | 1.33% | 5.55% | -120.30% | |
50 Neutral | $219.29M | 21.93 | 6.15% | ― | -5.16% | -16.62% | |
45 Neutral | $46.01M | -3.71 | 196.04% | ― | -95.28% | 18.96% |
* Basic Materials Sector Average
FSI
Flexible Solutions International
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Flexible Solutions International Corporate Events
Business Operations and StrategyFinancial Disclosures
Flexible Solutions Reports Higher Q1 Sales Amid Expansion
Positive
May 18, 2026
Flexible Solutions International reported that first-quarter 2026 sales rose about 11% year over year to $8.3 million, while net loss narrowed slightly to $241,420, or $0.02 per share, as the company continued to absorb significant expansion costs...
Business Operations and StrategyFinancial Disclosures
Flexible Solutions Highlights 2025 Results and Growth Strategy
Neutral
Apr 20, 2026
On April 15, 2026, Flexible Solutions International reported full-year 2025 revenue of $38.5 million, essentially flat versus 2024, while net income declined to $0.8 million, or $0.06 per share, from $3.0 million, or $0.24 per share, a year earlie...
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.