Flexible Solutions International (FSI)
XASE:FSI
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Flexible Solutions International
(NYSE MKT:FSI)
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Rating:54Neutral
Price Target:
$6.50
▲(17.75% Upside)
Action:ReiteratedDate:04/20/26
The score is held back primarily by weakened recent financial performance (sharp earnings deterioration and volatile/negative free cash flow), partially offset by a strong low-debt balance sheet. Technicals are moderately supportive but show overbought risk, while valuation signals are limited/weak based on the provided P/E and lack of dividend data. Earnings-call guidance adds a constructive outlook for 2026, but execution and tariff/input-cost risks remain significant.
Positive Factors
Conservative, low‑leverage balance sheet
Very low leverage (debt/equity ~0.02 in 2025) gives durable financial flexibility to fund ramps, absorb shocks, and avoid dilutive equity raises. This reduces interest burden and preserves capacity for modest targeted CapEx or working‑capital needs during multi‑quarter growth execution.
Negative Factors
Sharp collapse in reported profitability
A large drop in net income materially weakens return generation and demonstrates earnings vulnerability to ramp costs and transition expenses. Sustained lower profitability reduces internal funding capacity, raises breakeven risk for new contracts, and increases sensitivity to future adverse shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative, low‑leverage balance sheet
Very low leverage (debt/equity ~0.02 in 2025) gives durable financial flexibility to fund ramps, absorb shocks, and avoid dilutive equity raises. This reduces interest burden and preserves capacity for modest targeted CapEx or working‑capital needs during multi‑quarter growth execution.
Read all positive factors
Flexible Solutions International (FSI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$82.16M
Dividend YieldN/A
Average Volume (3M)15.70K
Price to Earnings (P/E)108.2
Beta (1Y)1.69
Revenue Growth0.73%
EPS Growth-74.41%
CountryUS
Employees45
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.02
Shares Outstanding12,737,498
10 Day Avg. Volume20,204
30 Day Avg. Volume15,702
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 Cap1.05
Enterprise Value/Revenue2.24
Enterprise Value/Gross Profit9.93
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$8.50Price Target Upside53.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.56
Revenue Forecast (FY)$67.38M
Flexible Solutions International Business Overview & Revenue Model
Company Description
Flexible Solutions International, Inc., together with its subsidiaries, develops, manufactures, and markets specialty chemicals that slow the evaporation of water in Canada, the United States, and internationally. The company operates in two segme...
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:Apr 15, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 15, 2026
Earnings Call Sentiment Neutral
The call presents a balanced view: the company has secured large food-grade contracts, strategic international production in Panama, certifications, and has materially reduced debt — all positive drivers for multi-year growth. However, near-term financials were pressured by heavy expensing for factory builds and contract ramp-up, tariff exposure, supply-chain volatility, and weak agriculture markets, resulting in a sharp decline in reported net income and lower operating cash flow in 2025. Management expects revenue ramps and margin recovery through 2026 with profits improving in H1 and accelerating in H2, but execution and macro risks remain significant.Positive Updates
Stable Full-Year Revenue
FY2025 sales essentially flat at $38.51M versus $38.23M in 2024 (≈+0.7%), showing top-line stability despite transition and macro headwinds.
Negative Updates
Sharp Decline in Reported Net Income
Net income fell to $787K in 2025 from $3.0M in 2024 — a decline of ~74% year-over-year, driven by expensed costs for Panama build-out and food contract preparation.
Read all updates
Q4-2025 Updates
Positive
Negative
Stable Full-Year Revenue
FY2025 sales essentially flat at $38.51M versus $38.23M in 2024 (≈+0.7%), showing top-line stability despite transition and macro headwinds.
Read all positive updates
Company Guidance
The company guided that it expects a transition to food and nutraceuticals with NCS 100% food‑grade by end of 2026 and Panama to assume all legacy industrial/ag products by end of 2026, driving increased international sales over the next 2 years (Panama plant ~30 minutes from the port to shorten delivery times and avoid U.S. tariffs currently ranging 15%–58.5%); two 2025 food contracts include an August 5‑year deal with a $6.5M/year minimum and >$25M/year ceiling and a January contract ramping from small volumes now toward full production (target end of Q2 or earliest Q3) with significant revenue visible in Q2, and management’s critical goal is to grow those contracts to combined >$50M/year within 4–6 quarters (little CapEx needed to reach ~$15M/year and modest $2M–$3M CapEx to reach $25M); margins in Food are currently constrained by tariff/inflation protections but are expected to rise toward 22%–25% pre‑tax (company‑level after‑tax net margin guidance around 15% once new revenues scale); near‑term financials: 2025 sales $38.51M vs $38.23M in 2024, net gain $787k ($0.06/sh) vs $3.0M ($0.24/sh) in 2024, operating cash flow $5.54M ($0.44/sh) vs $7.08M ($0.57/sh) in 2024; management expects some profits in Q1–Q2 2026 and rapidly increasing profits in H2 2026 as ramp‑costs and expensed Panama/food build‑out abate, plans no equity financing, has paid the ENP acquisition loan (June 2025) and a 3‑year equipment note (Dec 2025) freeing >$2M/year in cash flow, retains only a small term loan and the Illinois mortgage, forecasts ENP growth in low double digits (≈10%–12%) for 2026, and warns of possible customer price increases in Q3 unless oil/raw material costs decline.Flexible Solutions International Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
78
Positive
Cash Flow
41
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 | 5.54M | 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
Positive
5.52
Price Trends
5.47
Positive
6.01
Positive
7.01
Negative
Market Momentum
0.04
Negative
70.73
Negative
63.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FSI, the sentiment is Positive. The current price of 5.52 is above the 20-day moving average (MA) of 5.42, above the 50-day MA of 5.47, and below the 200-day MA of 7.01, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 70.73 is Negative, neither overbought nor oversold. The STOCH value of 63.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | $244.89M | 15.33 | 7.26% | ― | -9.45% | -14.52% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | $419.70M | 16.09 | 6.00% | ― | -4.90% | ― | |
54 Neutral | $82.16M | 108.18 | 2.02% | ― | 0.73% | -74.41% | |
53 Neutral | $66.71M | -4.53 | 71.64% | ― | 8746.83% | 90.12% | |
52 Neutral | $75.46M | -597.73 | -1.07% | 1.33% | 5.55% | -120.30% |
* Basic Materials Sector Average
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Flexible Solutions International Corporate Events
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.