FGI Industries Ltd. (FGI) Stock

FGI Industries Ltd. (FGI) is a Materials stock trading at $8.89 (as of 2026-08-20), with a market capitalization of $17.17M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

FGI Industries Ltd. supplies kitchen and bath products in the United States, Canada, and Europe, including sanitaryware, bathroom furniture and storage items, shower systems, and kitchen cabinetry and accessories under various brand names. It sells through mass retail centers, wholesale and commercial distributors, online retailers, and independent dealers as well as distributors.

Understand FGI Industries Ltd.: how it makes money

FGI Industries makes and sells kitchen and bath products (sanitaryware like toilets and sinks, shower systems, bathroom furniture, and kitchen cabinetry and accessories), and earns money by selling through mass retail centers, wholesale and commercial distributors, and online retail.

FGI's profit potential appears driven by dealer and distribution reach (measured by Active Dealer Count) converting into product sales across its kitchen and bath categories sold through retail, distributors, and online channels.

Revenue by segment (latest quarter)
Sanitary$0.0B
Showers$0.0B
Orders$0.0B
Fast Furn.$0.0B

Business quality (Weak): The business shows positive gross margin but currently negative operating margin, so near-term profitability is a key question. The operating footprint also appears tied to maintaining and expanding its active dealer network.

Bull case

  • Positive gross margin: Gross margin is 26.8% in the latest reported period, suggesting the company can generate meaningful product-level profit before operating costs.
  • Broad kitchen and bath product set: FGI sells multiple kitchen and bath categories, including sanitaryware, shower systems, bathroom furniture, and kitchen cabinetry, which can help spread demand across product types.
  • Meaningful dealer network: FGI reports an Active Dealer Count of 302, indicating an established distribution footprint for its products.

Bear case

  • Operating losses: Operating margin is -2.3%, meaning operating costs are exceeding operating profit in the latest reported period.
  • Dealer dependence risk: Key operating visibility is through dealer counts, so changes in dealer participation could affect sales and momentum.
  • Profitability gap vs gross margin: With a positive gross margin but negative operating margin, the company faces operating cost pressure that investors would need to understand and improve.
Valuation — source: SEC EDGAR (first-party)
Price$8.89
Market Cap$17.17M
EV / EBITDA23.4
Price / Book1.14
Price / Sales0.13
FCF Yield-9.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$130.53M
Net Margin-4.7%
Revenue Growth (YoY)-1.0%
EPS Growth (YoY)2361.5%
FCF Growth (YoY)-97.8%
Financial Health — source: SEC EDGAR
Altman Z-Score2.03 (grey)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Materials)25.1
Industry P/E (Construction Materials)22.6
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVinva Investment Management Ltd ($880090.00)
Institutional Holders Tracked8
Company
SectorMaterials
IndustryConstruction Materials
CEODavid Bruce
Employees420
CountryUS
IPO Date2022-01-25

Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)

  • Omega Flex, Inc. (OFLX)
  • INNOVATE Corp. (VATE)
  • Wrap Technologies, Inc. (WRAP)
  • Northern Technologies International Corporation (NTIC)
  • TechPrecision Corporation (TPCS)
  • Foxx Development Holdings Inc. (FOXX)
  • Energy Focus, Inc. (EFOI)
  • ESS Tech, Inc. (GWH)
FGI earnings history · FGI institutional & insider holders · FGI KPIs & operating metrics · FGI financials · FGI investor presentations & press releases · FGI SEC filings · FGI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.