Fab-Form (FBF) AI Stock Analysis

• Market Cap: C$9.45M
• Dividend Yield: N/A
• Average Volume (3M): 2.06K
• Price to Earnings (P/E): 73.7
• Beta (1Y): 0.11
• Revenue Growth: 4.45%
• EPS Growth: -27.12%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): <0.01
• Shares Outstanding: 9,174,507
• 10 Day Avg. Volume: 3,162
• 30 Day Avg. Volume: 2,058
• PEG Ratio: -1.08
• Price to Book (P/B): 1.68
• Price to Sales (P/S): 2.25
• P/FCF Ratio: 43.37
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 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: 61 Neutral
• Price Target: C$1.00 ▼(-17.36% Downside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is mainly supported by strong financial stability and very low leverage, plus a modest P/E. It is held back by weakening recent operating/cash-flow trends (revenue dip, margin compression, weaker cash conversion) and bearish technicals with the stock trading below major moving averages and negative MACD.

Positive Factors

Balance Sheet Strength

Very low leverage materially reduces financial risk and gives management flexibility to fund operations, capex, or M&A from internal resources. A strong equity base helps the company weather cyclical construction slowdowns and supports longer-term strategic investments without heavy borrowing.

Market Position & Product Offering

Specialization in insulated concrete forms and advanced formwork, combined with a direct sales model plus distributor partnerships, creates diversified revenue channels and customer stickiness. Technical product focus and service orientation support repeat business and barriers to entry versus commoditized suppliers.

Positive Cash Generation

Sustained positive operating and free cash flow provides internal funding for working capital and reinvestment, reducing reliance on external financing. Even modest FCF supports incremental product development and distribution expansion, improving long-term self‑funding capacity and resilience.

Negative Factors

Revenue Weakness

A declining and inconsistent revenue trend hampers scale economies and makes forecasting and capacity planning harder. If demand remains uneven, the company may struggle to regain the growth trajectory needed to fund R&D, expand margins, or justify longer-term investments in distribution and product lines.

Margin Compression

Sustained margin erosion indicates rising cost pressure or pricing weakness versus past performance, reducing return on invested capital. Lower margins constrain cash available for reinvestment and make the business more sensitive to input cost volatility, weakening its ability to fund strategic initiatives.

Weakened Cash Conversion

A notable gap between accounting profits and cash flow suggests working-capital strain (receivables, inventory) or timing issues. Weaker cash conversion reduces liquidity and could force reliance on external funding for growth or cyclical downturns, undermining the benefits of the otherwise strong balance sheet.

Fab-Form Business Overview & Revenue Model

Company Description

Fab-Form Industries Ltd. develops, manufactures, and distributes technology to form concrete footings, columns, foundations, and walls for building structures in Canada. Its product portfolio includes bracing, fastfoot, fast-pad, fast-tube, and monopour products. The company also distributes Helix micro rebars; and Nudura insulating concrete forms. Fab-Form Industries Ltd. was founded in 1986 and is headquartered in Delta, Canada.

How the Company Makes Money

Fab-Form generates revenue primarily through the sale of its construction products, including insulated concrete forms and other formwork solutions. The company utilizes a direct sales model, as well as partnerships with distributors and retailers, to reach a broader market. Key revenue streams include bulk sales to construction companies, recurring orders from contractors for ongoing projects, and custom solutions tailored to specific client needs. Additionally, FBF may benefit from strategic partnerships with construction firms and architects, which can lead to increased sales opportunities and market expansion. The company's commitment to innovation and quality also enhances its brand reputation, contributing to customer loyalty and repeat business.

Fab-Form Financial Statement Overview

Summary

Balance sheet strength is a clear positive (very low leverage with debt-to-equity ~0.02; Balance Sheet Score 84), but operating trends are mixed: TTM revenue declined (-3.6%) with margin compression versus 2021–2023 (Income Statement Score 62), and cash conversion is weaker with free cash flow only about one-third of net income despite remaining positive (Cash Flow Score 55).

Income Statement

TTM (Trailing-Twelve-Months) revenue dipped (-3.6%), continuing a choppy top-line pattern after the post-2021 surge (2022–2023 downshift, 2025 roughly flat to down). Profitability remains solid in TTM with healthy gross margin (~33%) and net margin (~10.6%), but margins are notably below the stronger 2021–2023 period (net margin ~16–21%). Overall, the business is still profitable, but the trajectory shows margin compression and soft recent growth.

Balance Sheet

The balance sheet is conservatively financed: leverage is very low in TTM (debt-to-equity ~0.02) and improved materially versus 2020–2021, reducing financial risk. Equity is substantial relative to assets, and returns on equity remain positive (TTM ~8.6%), though down meaningfully from 2021–2022 levels, pointing to weaker earnings power rather than balance-sheet strain.

Cash Flow

Cash generation is positive, with TTM operating cash flow (~$0.77M) and free cash flow (~$0.24M) both positive and free cash flow growth improving in TTM. However, cash conversion has weakened versus prior years: TTM free cash flow is only about one-third of net income, and operating cash flow is slightly below net income, suggesting less efficient conversion of profits into cash (potentially working-capital or reinvestment related).

Breakdown	Sep 2025	Dec 2024	Dec 2023	Mar 2023	Mar 2022
Income Statement
Total Revenue	4.61M	4.73M	4.68M	6.13M	4.42M
Gross Profit	1.50M	1.60M	1.69M	2.34M	1.57M
EBITDA	840.58K	978.00K	1.23M	1.86M	1.17M
Net Income	423.21K	546.76K	771.88K	1.26M	765.51K
Balance Sheet
Total Assets	6.89M	6.72M	6.06M	4.76M	3.39M
Cash, Cash Equivalents and Short-Term Investments	4.27M	3.63M	4.10M	2.85M	1.52M
Total Debt	70.66K	130.44K	117.34K	418.39K	528.64K
Total Liabilities	717.75K	814.11K	703.27K	659.84K	672.15K
Stockholders Equity	6.17M	5.90M	5.35M	4.10M	2.72M
Cash Flow
Free Cash Flow	239.04K	128.43K	1.23M	1.50M	341.60K
Operating Cash Flow	774.34K	646.95K	1.37M	1.63M	355.75K
Investing Cash Flow	379.68K	-989.83K	-757.52K	-2.20M	-31.36K
Financing Cash Flow	-122.44K	-122.44K	-122.44K	-122.44K	-108.26K

Fab-Form Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.21
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FBF, the sentiment is Neutral. The current price of 1.21 is above the 20-day moving average (MA) of 1.07, above the 50-day MA of 1.12, and above the 200-day MA of 1.18, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 49.14 is Neutral, neither overbought nor oversold. The STOCH value of 42.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:FBF.

Fab-Form Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CEMX	75 Outperform	C$71.21M	13.33	10.61%	―	-3.69%	85.59%
TBL	65 Neutral	C$384.28M	13.49	8.32%	―	2.99%	-12.14%
DBM	64 Neutral	C$854.81M	10.20	12.47%	5.85%	28.20%	36.95%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
FBF	61 Neutral	C$9.45M	73.71	7.05%	―	4.45%	-27.12%
PWER	46 Neutral	C$9.24M	-208.27	―	―	―	―

Fab-Form Corporate Events

Fab-Form Posts Lower Quarterly Profit but Advances New Concrete Technologies and IP

Fab-Form Industries reported a 16.6% year-over-year revenue decline to $859,728 for the quarter ended 31 December 2025, as Canadian housing starts hit a 30-year low and U.S. sales suffered from new tariffs. Net earnings fell 70% to $35,162, though the company maintained a strong balance sheet with $4.27 million in cash and short-term investments, low liabilities, and growing total assets.

Despite weaker earnings, Fab-Form advanced several product initiatives, finalizing design work on its SPACE-R system, progressing high-elasticity Fast-Tube 3.0 fabric testing, and beginning commercialization of its Flex-R sub-slab insulation and radon control panels. The company also strengthened its intellectual property position in a sub-slab insulation and damp-proofing market worth several hundred million dollars in North America by filing a U.S. patent and acquiring a key Canadian patent, supporting its long-term competitive positioning.

The most recent analyst rating on (TSE:FBF) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Fab-Form stock, see the TSE:FBF Stock Forecast page.

Fab-Form Launches Flex-R Sub-Slab System, Bolsters Patent Portfolio

Fab-Form Industries has introduced Flex-R, a new advanced concrete sub-slab panel designed to combine insulation, damp-proofing, air and vapour barriers, and radon protection in a single system. The product is engineered to adapt automatically to uneven ground, reduce slab settlement and cracking risks, and cut installation labour by up to 70% by integrating insulation and vapour barrier installation.

To strengthen the intellectual property behind Flex-R, Fab-Form has filed a new U.S. design patent, acquired Canadian patent 3,029,299 covering an all-in-one under-slab system, and applied for Flex-R trademarks in both the U.S. and Canada. These steps reinforce the company’s positioning in sustainable, energy-efficient building solutions and signal a bid to secure competitive advantage in under-slab insulation and radon control technologies.

The most recent analyst rating on (TSE:FBF) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Fab-Form stock, see the TSE:FBF Stock Forecast page.

Fab-Form Buys Prime White Rock Site to Showcase Smart, Low-Cost Housing Technologies

Fab-Form Industries has acquired a 0.41-acre residential property in a prime coastal neighborhood of White Rock, British Columbia, for approximately $2.45 million as a flagship site to showcase smart, low-cost and sustainable housing solutions. Funded entirely from internal capital, the project will serve as a live demonstration and testing hub for Fab-Form’s latest slab and insulation technologies alongside its broader product suite, with weekly open houses aimed at industry professionals and homeowners; by advancing prototypes slated for later in 2026, the initiative is intended to strengthen the company’s position in affordable, energy-efficient housing and expand market adoption of its construction systems without adding debt to its balance sheet.

The most recent analyst rating on (TSE:FBF) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Fab-Form stock, see the TSE:FBF Stock Forecast page.

Fab-Form Sets Up U.S. Fulfillment Hub in Missouri to Accelerate Expansion

Fab-Form Industries Ltd. has entered into a third-party logistics and fulfillment agreement with All 3 Pools LLC to establish a U.S. fulfillment hub in Springfield, Missouri, supporting warehousing, storage and related logistics for its expanding American operations. The new hub is expected to speed delivery times and improve customer service across the United States, marking a significant step in the company’s U.S. distribution strategy and footprint expansion, though it is characterized as a routine operational expansion rather than a material acquisition.

The most recent analyst rating on (TSE:FBF) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Fab-Form stock, see the TSE:FBF Stock Forecast page.