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FGI Industries Ltd
(NASDAQ:FGI)
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Rating:50Neutral
Price Target:
$7.00
▼(-7.16% Downside)
Action:Reiterated
Date:08/17/26
The score is primarily constrained by weak underlying profitability and a negative P/E, despite improving leverage and recently positive cash generation. Technicals are supportive with strong momentum above all key moving averages, but an elevated RSI suggests the move may be stretched. The latest earnings call adds cautious optimism from improved results and reaffirmed guidance, offset by tariff-related uncertainty, reliance on recoveries, and modest liquidity.
Positive Factors
Revenue rebound
The sharp TTM revenue rebound and continued Q2 growth indicate improving demand and product traction after weaker periods. If sustained, broader sales momentum can support better operating leverage, strengthen distribution economics, and provide a foundation for more consistent earnings over the next several quarters.
Negative Factors
Unproven profitability
Despite a revenue recovery and better gross margin, FGI has not yet demonstrated durable, recurring earnings. Continued net losses and only marginal operating profitability leave the company sensitive to modest changes in demand, costs, or mix, limiting confidence in sustained returns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound
The sharp TTM revenue rebound and continued Q2 growth indicate improving demand and product traction after weaker periods. If sustained, broader sales momentum can support better operating leverage, strengthen distribution economics, and provide a foundation for more consistent earnings over the next several quarters.
Read all positive factors
FGI Industries Ltd (FGI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.62M
Dividend YieldN/A
Average Volume (3M)31.78K
Price to Earnings (P/E)―
Beta (1Y)1.61
Revenue Growth-5.30%
EPS Growth-40.48%
CountryUS
Employees426
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-2.06
Shares Outstanding1,931,271
10 Day Avg. Volume9,843
30 Day Avg. Volume31,779
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.63
Price to Sales (P/S)0.08
P/FCF Ratio-51.44
Enterprise Value/Market Cap1.89
Enterprise Value/Revenue0.20
Enterprise Value/Gross Profit0.70
Enterprise Value/Ebitda7.67
Forecast
1Y Price Target
$13.00Price Target Upside72.41% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.26
Revenue Forecast (FY)$135.03M
FGI Industries Ltd Business Overview & Revenue Model
Company Description
FGI Industries Ltd. engages in the supply of kitchen and bath products. Its products fall under the following categories: Sanitaryware, Bath Furniture, Shower Systems and Other. The Sanitaryware category offers bath products such as toilets, sinks...
FGI Industries Ltd Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call reported meaningful sequential and year‑over‑year financial improvements — revenue growth (+2.9%), strong gross profit expansion (+22.5%) and a return to GAAP profitability — alongside operational progress (warehouse expansion, branded product momentum and lower operating expenses). However, several material risks remain: tariff uncertainty and one‑time trade recoveries driving much of the improvement, a soft R&R market with increased promotions, regional weakness in Canada, and modest liquidity. On balance the quarter showed clear financial improvement and strategic progress but with notable execution and macro risks that could temper future results.Positive Updates
Return to GAAP Profitability
GAAP operating gain of $1.4 million (vs. an operating loss of $0.8 million prior year). GAAP net income attributable to shareholders of $1.3 million (vs. loss of $1.2 million), and adjusted net income of $1.2 million (vs. loss of $1.2 million).
Negative Updates
Ongoing Tariff Uncertainty and One‑Time Recoveries
Quarterly improvements were materially driven by trade‑related recoveries (reflected in COGS). Management characterizes these as partial/one‑time offsets while noting tariffs, duties and VAT issues remain ongoing and further levies are possible next year.
Read all updates
Q2-2026 Updates
Positive
Negative
Return to GAAP Profitability
GAAP operating gain of $1.4 million (vs. an operating loss of $0.8 million prior year). GAAP net income attributable to shareholders of $1.3 million (vs. loss of $1.2 million), and adjusted net income of $1.2 million (vs. loss of $1.2 million).
Read all positive updates
Company Guidance
FGI reaffirmed its 2026 guidance, reiterating full‑year revenue of $134.0–$141.0 million (guidance unchanged and excluding trade‑related recoveries), adjusted operating income of $0.7–$2.5 million (excludes certain nonrecurring items), and adjusted net income of a loss $0.3 million to a gain $1.1 million (excludes nonrecurring items and includes a minority‑interest adjustment); management noted the outlook does not include trade‑related recoveries, pointed to Q2 results that support the outlook—Q2 revenue $31.9 million (+2.9% YoY), gross profit $10.7 million (+22.5% YoY) and gross margin 33.4% (vs. 28.1% prior year), operating expenses $9.3 million (vs. $9.5 million prior), GAAP operating gain $1.4 million (vs. operating loss $0.8 million prior year), GAAP net income attributable $1.3 million (vs. loss $1.2 million prior), adjusted net income $1.2 million (vs. loss $1.2 million prior), and reported total liquidity of $7.9 million, while cautioning that ongoing tariff and trade developments could impact future results.FGI Industries Ltd Financial Statement Overview
Summary
Income Statement
41
Neutral
Balance Sheet
52
Neutral
Cash Flow
47
Neutral
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 128.70M | 130.53M | 131.82M | 117.24M | 161.72M | 181.94M |
| Gross Profit | 36.65M | 35.25M | 35.43M | 32.08M | 31.51M | 32.20M |
| EBITDA | 3.37M | -102.14K | 2.14M | 4.16M | 5.36M | 9.57M |
| Net Income | -3.95M | -6.14M | -1.20M | 733.60K | 3.68M | 7.91M |
Balance Sheet | ||||||
| Total Assets | 67.81M | 69.54M | 75.46M | 65.74M | 60.37M | 69.15M |
| Cash, Cash Equivalents and Short-Term Investments | 4.42M | 1.90M | 4.56M | 7.78M | 10.07M | 3.88M |
| Total Debt | 10.65M | 23.58M | 27.72M | 22.23M | 19.19M | 22.86M |
| Total Liabilities | 52.74M | 53.93M | 53.90M | 41.72M | 37.62M | 61.60M |
| Stockholders Equity | 17.08M | 17.28M | 22.25M | 24.18M | 22.74M | 7.55M |
Cash Flow | ||||||
| Free Cash Flow | 1.82M | -212.52K | -9.63M | 447.08K | -83.96K | -3.28M |
| Operating Cash Flow | 2.29M | 673.22K | -7.43M | 1.39M | 980.26K | -3.22M |
| Investing Cash Flow | -560.10K | -1.02M | -2.88M | -942.61K | -1.06M | -51.89K |
| Financing Cash Flow | 476.49K | -2.63M | 7.54M | -2.84M | 7.01M | 3.32M |
FGI Industries Ltd Technical Analysis
Negative
7.54
Price Trends
7.94
Negative
6.39
Positive
5.98
Positive
Market Momentum
-0.20
Positive
41.92
Neutral
30.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FGI, the sentiment is Negative. The current price of 7.54 is above the 20-day moving average (MA) of 7.51, below the 50-day MA of 7.94, and above the 200-day MA of 5.98, indicating a neutral trend. The MACD of -0.20 indicates Positive momentum. The RSI at 41.92 is Neutral, neither overbought nor oversold. The STOCH value of 30.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FGI.
FGI Industries Ltd Risk Analysis
FGI Industries Ltd disclosed 50 risk factors in its most recent earnings report. FGI Industries Ltd 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
FGI Industries Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $344.44M | 12.66 | 19.78% | 1.07% | 4.10% | 73.26% | |
68 Neutral | $515.43M | 13.03 | 8.40% | 23.52% | -5.72% | -22.50% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $136.65M | -7.61 | -10.59% | 3.60% | -28.13% | -38.44% | |
53 Neutral | $191.41M | 28.37 | 4.12% | 3.62% | 1.40% | -11.99% | |
50 Neutral | $13.62M | -3.42 | -22.50% | ― | -5.30% | -40.48% |
* Consumer Cyclical Sector Average
FGI
FGI Industries Ltd
7.05
1.92
37.43%
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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.