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FST Corp
(NASDAQ:KBSX)
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Rating:39Underperform
Price Target:
$0.81
▼(-45.97% Downside)
Action:Downgraded
Date:06/26/26
The score is primarily weighed down by weak financial performance: ongoing losses, negative free cash flow, and elevated leverage. Technicals also reflect a clear downtrend (below major moving averages with bearish MACD), with only oversold indicators offering limited near-term support. Valuation is difficult to justify with negative earnings and no dividend yield provided.
Positive Factors
Improving revenue and strong gross margin
A 7.4% revenue rebound alongside ~44.8% gross margin signals durable demand or structural pricing/cost advantage in core operations. High gross margins create room for operating leverage, supporting sustainable profit conversion if top-line trends persist over coming quarters.
Negative Factors
Elevated leverage
High debt-to-equity (~2.08 TTM, previously ~3.79) leaves the company sensitive to interest costs and refinancing risk. Elevated leverage constrains strategic flexibility, amplifying downside if cash generation stalls and making deleveraging a multi-quarter requirement to restore balance-sheet resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving revenue and strong gross margin
A 7.4% revenue rebound alongside ~44.8% gross margin signals durable demand or structural pricing/cost advantage in core operations. High gross margins create room for operating leverage, supporting sustainable profit conversion if top-line trends persist over coming quarters.
Read all positive factors
FST Corp (KBSX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.74M
Dividend YieldN/A
Average Volume (3M)6.01K
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees382
SectorConsumer Cyclical
Sector Strength84
IndustrySteel
Share Statistics
EPS (TTM)-0.05
Shares Outstanding44,766,003
10 Day Avg. Volume3,328
30 Day Avg. Volume6,006
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)6.69
Price to Sales (P/S)1.31
P/FCF Ratio-44.10
Enterprise Value/Market Cap1.99
Enterprise Value/Revenue1.57
Enterprise Value/Gross Profit3.51
Enterprise Value/Ebitda85.81
Forecast
1Y Price Target
$4.00Price Target Upside168.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.05
Revenue Forecast (FY)$56.50M
FST Corp Business Overview & Revenue Model
Company Description
Based in Chiayi, Taiwan, FST Corp. specializes in the full scope of activities for steel golf shafts. This includes their conceptualization, production, global marketing, and distribution. The company provides these essential components to golf cl...
FST Corp Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
34
Negative
Cash Flow
26
Negative
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 47.97M | 36.50M | 28.73M | 49.78M | 38.94M |
| Gross Profit | 20.63M | 15.71M | 13.44M | 26.57M | 16.80M |
| EBITDA | -1.47M | -3.32M | -1.30M | 16.07M | 4.26M |
| Net Income | -7.12M | -3.24M | -2.17M | 9.38M | -90.53K |
Balance Sheet | |||||
| Total Assets | 59.82M | 58.58M | 63.31M | 59.98M | 46.59M |
| Cash, Cash Equivalents and Short-Term Investments | 7.18M | 5.16M | 8.90M | 20.74M | 10.55M |
| Total Debt | 35.47M | 15.42M | 16.03M | 9.36M | 15.48M |
| Total Liabilities | 50.31M | 35.58M | 35.88M | 27.56M | 21.56M |
| Stockholders Equity | 9.37M | 22.83M | 27.42M | 32.42M | 25.03M |
Cash Flow | |||||
| Free Cash Flow | -1.42M | -1.31M | -22.80M | 10.24M | 3.07M |
| Operating Cash Flow | -369.45K | -1.31M | -11.21M | 12.72M | 7.20M |
| Investing Cash Flow | -1.26M | 3.64M | -11.59M | -2.46M | -6.41M |
| Financing Cash Flow | 3.32M | -2.33M | 11.30M | 2.30M | 826.01K |
FST Corp Technical Analysis
Negative
1.49
Price Trends
1.23
Negative
1.26
Negative
1.34
Negative
Market Momentum
-0.10
Positive
32.36
Neutral
49.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KBSX, the sentiment is Negative. The current price of 1.49 is above the 20-day moving average (MA) of 1.10, above the 50-day MA of 1.23, and above the 200-day MA of 1.34, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 32.36 is Neutral, neither overbought nor oversold. The STOCH value of 49.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KBSX.
FST Corp Risk Analysis
FST Corp disclosed 54 risk factors in its most recent earnings report. FST Corp 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
FST Corp Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $231.56M | 11.80 | 13.66% | 0.75% | 45.50% | 214.32% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $69.88M | 35.28 | 3.43% | ― | 38.96% | ― | |
50 Neutral | $136.48M | 151.00 | 1.40% | ― | -51.72% | ― | |
44 Neutral | $13.44M | -5.03 | -1.85% | ― | -12.79% | -406.58% | |
39 Underperform | $40.74M | -17.43 | -18.82% | ― | ― | ― |
* Consumer Cyclical Sector Average
KBSX
FST Corp
0.91
-0.81
-47.09%
FRD
Friedman Industries
32.58
15.71
93.08%
ACNT
Ascent Industries
15.10
2.16
16.69%
HUDI
Huadi International Group
0.94
-0.38
-28.79%
HLP
Hongli Group, Inc.
0.94
0.28
43.19%
FST Corp Corporate Events
FST Corp. Swings to Operating Profit on Higher Q1 2026 Revenue
May 5, 2026
On May 5, 2026, FST Corp. reported unaudited condensed consolidated financial results for the quarter ended March 31, 2026, showing total assets of $62.3 million and liabilities of $45.3 million, with shareholders’ equity rising to $17.0 mil...
FST Corp. Reshapes Board With New Independent Director and Committee Changes
Apr 23, 2026
On April 16, 2026, FST Corp. announced that independent director Richard Qi Li resigned from its board with immediate effect, stating no disagreements regarding the company’s operations or policies. This mitigates concerns of underlying gove...
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.