FST Corp (KBSX) AI Stock Analysis

• Market Cap: $59.76M
• Dividend Yield: N/A
• Average Volume (3M): 13.77K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.28
• Revenue Growth: N/A
• EPS Growth: -267.14%
• Country: US
• Employees: 1
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): -0.55
• Shares Outstanding: 44,766,003
• 10 Day Avg. Volume: 4,850
• 30 Day Avg. Volume: 13,774
• PEG Ratio: -0.02
• Price to Book (P/B): 3.00
• Price to Sales (P/S): 1.88
• P/FCF Ratio: -52.25
• Enterprise Value/Market Cap: 1.54
• Enterprise Value/Revenue: 2.25
• Enterprise Value/Gross Profit: 5.06
• Enterprise Value/Ebitda: -28.33
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $1.50 ▲(0.67% Upside)

KBSX's overall stock score is primarily impacted by its financial performance and valuation challenges. The company's inability to maintain profitability and generate positive cash flows is a significant concern. Technical analysis indicates bearish momentum, further weighing on the stock's attractiveness. The lack of earnings call data and corporate events limits additional insights.

FST Corp Business Overview & Revenue Model

Company Description

FST Corp (KBSX) is a technology company specializing in advanced biometric identification solutions. The company operates primarily in the security and identity management sectors, providing products and services that enhance security and streamline access control for businesses and governmental organizations. FST Corp's core offerings include facial recognition systems, access control systems, and comprehensive identity management software that integrates with existing security infrastructures.

How the Company Makes Money

FST Corp generates revenue through the sale of its biometric identification products and software solutions, which are typically offered on a license or subscription basis. Key revenue streams include direct sales of hardware components, such as cameras and sensors, as well as software licensing fees for its identity management platforms. The company may also earn income through installation services, ongoing maintenance contracts, and training programs for clients. Significant partnerships with security firms and technology integrators further enhance its market reach and revenue potential, allowing FST Corp to tap into larger projects and governmental contracts.

FST Corp Financial Statement Overview

Summary

KBSX faces significant financial challenges, with declining profitability and cash flow issues. Despite revenue growth, the company struggles to convert this into positive margins and cash flows. The balance sheet is stable with low leverage, but negative return on equity and cash flow difficulties highlight the need for strategic improvements.

Income Statement

FST Corp's income statement shows a challenging financial position with negative net profit margins and EBIT margins over the TTM period. Despite a 5.64% revenue growth in the TTM, the company has struggled to maintain profitability, as evidenced by the negative EBIT and net income figures. Historical data indicates a significant decline from a profitable position in 2022, suggesting potential operational inefficiencies or market challenges.

Balance Sheet

The balance sheet reflects a moderate financial structure with a low debt-to-equity ratio of 0.036 in the TTM, indicating conservative leverage. However, the return on equity is negative, highlighting inefficiencies in generating returns from equity. The equity ratio remains stable, suggesting a solid asset base, but the declining equity and profitability metrics pose concerns.

Cash Flow

Cash flow analysis reveals negative operating and free cash flows in the TTM, indicating liquidity challenges. Although there was a 22.39% growth in free cash flow, the overall cash flow position remains weak, with negative operating cash flow to net income ratios. This suggests potential issues in cash generation from core operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	40.86M	36.50M	28.73M	49.78M	38.94M	27.63M
Gross Profit	18.19M	15.71M	13.44M	26.57M	16.80M	12.73M
EBITDA	-3.25M	-3.32M	-1.30M	16.07M	4.26M	2.38M
Net Income	-8.51M	-3.24M	-2.17M	9.38M	-90.53K	841.91K
Balance Sheet
Total Assets	63.12M	58.58M	63.31M	59.98M	46.59M	40.02M
Cash, Cash Equivalents and Short-Term Investments	6.87M	5.16M	8.90M	20.74M	10.55M	7.01M
Total Debt	17.02M	15.42M	16.03M	9.36M	15.48M	12.31M
Total Liabilities	50.14M	35.58M	35.88M	27.56M	21.56M	17.15M
Stockholders Equity	12.82M	22.83M	27.42M	32.42M	25.03M	22.87M
Cash Flow
Free Cash Flow	-1.80M	-1.31M	-22.80M	10.24M	3.07M	2.50M
Operating Cash Flow	-1.68M	-1.31M	-11.21M	12.72M	7.20M	4.19M
Investing Cash Flow	3.88M	3.64M	-11.59M	-2.46M	-6.41M	-3.47M
Financing Cash Flow	-3.31M	-2.33M	11.30M	2.30M	826.01K	-1.39M

FST Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.49
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: 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 1.48, below the 50-day MA of 1.52, and below the 200-day MA of 2.27, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 28.09 is Positive, neither overbought nor oversold. The STOCH value of 37.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KBSX.

FST Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ZEUS	65 Neutral	$407.59M	31.00	2.40%	1.71%	-5.64%	-48.34%
FRD	62 Neutral	$148.46M	17.34	8.47%	0.83%	8.72%	43.14%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ACNT	57 Neutral	$136.73M	157.33	-3.84%	―	-29.03%	―
HUDI	53 Neutral	$18.68M	-35.84	-0.69%	―	-20.24%	-119.83%
KBSX	43 Neutral	$59.76M	―	―	―	―	-267.14%

FST Corp Corporate Events

FST Corp. Reports Increased Revenue Amidst Financial Challenges

On November 18, 2025, FST Corp. released its unaudited condensed consolidated financial statements for the nine months ending September 30, 2025. The financial report highlights a significant increase in revenue to $34.7 million compared to $26.4 million in the same period the previous year, reflecting a strong operational performance. However, the company’s net income faced challenges, with a notable decrease in total equity from $23 million at the end of 2024 to $10.7 million by September 2025, indicating financial pressures despite revenue growth.

FST Corp. Schedules Virtual Annual Meeting to Approve 2025 Equity Plan

FST Corp. has announced its Annual General Meeting of Shareholders scheduled for December 8, 2025, which will be held virtually. The primary agenda item is the approval of the FST Corp. 2025 Equity Incentive Plan, which requires a majority vote from shareholders. The meeting will be conducted online to enhance shareholder participation and reduce costs, with pre-registration required by December 7, 2025. The Board of Directors recommends voting in favor of the proposal, emphasizing the importance of shareholder votes, especially for those holding shares through banks or brokers.