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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and FGI Industries Ltd. (FGI). Click either name above to swap in a different company.
FGI Industries Ltd. is the larger business by last-quarter revenue ($30.5M vs $28.2M, roughly 1.1× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs -8.6%, a 27.5% gap on every dollar of revenue. On growth, FGI Industries Ltd. posted the faster year-over-year revenue change (-14.4% vs -22.0%). Over the past eight quarters, FGI Industries Ltd.'s revenue compounded faster (-0.5% CAGR vs -1.2%).
Arena Racing Company, also called ARC Racing and Leisure Group is a UK private company, created in 2012 by the merger of Arena Leisure and Northern Racing. It owns and operates 16 racecourses in Great Britain, accounting for 39% of British racing fixtures. It also operates hotels at Wolverhampton Racecourse, Lingfield Park Racecourse and Doncaster Racecourse and golf courses at Lingfield, Southwell and Newcastle.
FGI Industries Ltd is a global designer, manufacturer and distributor of kitchen and bath products, home organization solutions, and home improvement goods. It serves major retail chains, home specialty stores and e-commerce platforms across North America, Europe and the Asia-Pacific region.
AREN vs FGI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $30.5M |
| Net Profit | $5.3M | $-2.6M |
| Gross Margin | 43.6% | 26.7% |
| Operating Margin | 26.6% | -2.2% |
| Net Margin | 18.9% | -8.6% |
| Revenue YoY | -22.0% | -14.4% |
| Net Profit YoY | -22.5% | -553.1% |
| EPS (diluted) | $0.12 | $-1.63 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $28.2M | $30.5M | ||
| Q3 25 | $29.8M | $35.8M | ||
| Q2 25 | $45.0M | $31.0M | ||
| Q1 25 | $31.8M | $33.2M | ||
| Q4 24 | $36.2M | $35.6M | ||
| Q3 24 | $33.6M | $36.1M | ||
| Q2 24 | $27.2M | $29.4M | ||
| Q1 24 | $28.9M | $30.8M |
| Q4 25 | $5.3M | $-2.6M | ||
| Q3 25 | $6.9M | $-1.7M | ||
| Q2 25 | $108.6M | $-1.2M | ||
| Q1 25 | $4.0M | $-629.1K | ||
| Q4 24 | $6.9M | $-402.3K | ||
| Q3 24 | $4.0M | $-550.1K | ||
| Q2 24 | $-8.2M | $163.6K | ||
| Q1 24 | $-103.4M | $-412.2K |
| Q4 25 | 43.6% | 26.7% | ||
| Q3 25 | 50.2% | 26.5% | ||
| Q2 25 | 56.5% | 28.1% | ||
| Q1 25 | 49.3% | 26.8% | ||
| Q4 24 | 52.6% | 24.6% | ||
| Q3 24 | 50.6% | 25.8% | ||
| Q2 24 | 39.4% | 30.5% | ||
| Q1 24 | 30.9% | 27.4% |
| Q4 25 | 26.6% | -2.2% | ||
| Q3 25 | 31.9% | 1.0% | ||
| Q2 25 | 36.5% | -2.7% | ||
| Q1 25 | 23.1% | -3.9% | ||
| Q4 24 | 28.6% | -3.5% | ||
| Q3 24 | 24.0% | -0.2% | ||
| Q2 24 | -9.5% | -1.5% | ||
| Q1 24 | -27.5% | -1.0% |
| Q4 25 | 18.9% | -8.6% | ||
| Q3 25 | 23.1% | -4.6% | ||
| Q2 25 | 241.4% | -4.0% | ||
| Q1 25 | 12.6% | -1.9% | ||
| Q4 24 | 19.0% | -1.1% | ||
| Q3 24 | 11.8% | -1.5% | ||
| Q2 24 | -30.1% | 0.6% | ||
| Q1 24 | -357.1% | -1.3% |
| Q4 25 | $0.12 | $-1.63 | ||
| Q3 25 | $0.14 | $-0.86 | ||
| Q2 25 | $2.28 | $-0.64 | ||
| Q1 25 | $0.08 | $-0.07 | ||
| Q4 24 | $1.23 | $-0.38 | ||
| Q3 24 | $0.11 | $-0.29 | ||
| Q2 24 | $-0.28 | $0.08 | ||
| Q1 24 | $-3.91 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.3M | $1.9M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $17.3M |
| Total Assets | $112.6M | $69.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $1.9M | ||
| Q3 25 | $12.5M | $1.9M | ||
| Q2 25 | $6.8M | $2.5M | ||
| Q1 25 | $2.9M | $1.2M | ||
| Q4 24 | $4.4M | $4.6M | ||
| Q3 24 | $5.8M | $3.0M | ||
| Q2 24 | $6.1M | $1.3M | ||
| Q1 24 | $4.0M | $3.3M |
| Q4 25 | $97.6M | — | ||
| Q3 25 | $110.5M | — | ||
| Q2 25 | $110.5M | — | ||
| Q1 25 | $110.5M | — | ||
| Q4 24 | $110.4M | — | ||
| Q3 24 | $102.4M | — | ||
| Q2 24 | $102.4M | — | ||
| Q1 24 | $102.3M | — |
| Q4 25 | $-4.8M | $17.3M | ||
| Q3 25 | $-10.4M | $19.7M | ||
| Q2 25 | $-17.3M | $21.3M | ||
| Q1 25 | $-126.1M | $21.8M | ||
| Q4 24 | $-130.3M | $22.3M | ||
| Q3 24 | $-137.5M | $23.5M | ||
| Q2 24 | $-157.2M | $23.8M | ||
| Q1 24 | $-149.6M | $23.9M |
| Q4 25 | $112.6M | $69.5M | ||
| Q3 25 | $121.4M | $73.0M | ||
| Q2 25 | $127.8M | $71.7M | ||
| Q1 25 | $114.6M | $68.5M | ||
| Q4 24 | $116.4M | $75.5M | ||
| Q3 24 | $114.2M | $74.7M | ||
| Q2 24 | $113.4M | $69.9M | ||
| Q1 24 | $120.3M | $68.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $13.1M | $2.3M |
| Free Cash FlowOCF − Capex | — | $2.3M |
| FCF MarginFCF / Revenue | — | 7.5% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-212.5K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $2.3M | ||
| Q3 25 | $12.2M | $-1.9M | ||
| Q2 25 | $10.3M | $7.6M | ||
| Q1 25 | $3.7M | $-7.4M | ||
| Q4 24 | $-8.6M | $617.4K | ||
| Q3 24 | $-2.3M | $-915.0K | ||
| Q2 24 | $-3.2M | $862.1K | ||
| Q1 24 | $-2.0M | $-8.0M |
| Q4 25 | — | $2.3M | ||
| Q3 25 | — | $-2.1M | ||
| Q2 25 | — | $7.4M | ||
| Q1 25 | — | $-7.7M | ||
| Q4 24 | — | $-214.1K | ||
| Q3 24 | $-2.4M | $-1.1M | ||
| Q2 24 | — | $281.5K | ||
| Q1 24 | — | $-8.6M |
| Q4 25 | — | 7.5% | ||
| Q3 25 | — | -5.9% | ||
| Q2 25 | — | 23.8% | ||
| Q1 25 | — | -23.3% | ||
| Q4 24 | — | -0.6% | ||
| Q3 24 | -7.1% | -3.0% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | -28.0% |
| Q4 25 | — | 0.2% | ||
| Q3 25 | 0.0% | 0.7% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 2.0% |
| Q4 25 | 2.46× | — | ||
| Q3 25 | 1.77× | — | ||
| Q2 25 | 0.09× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | -1.25× | — | ||
| Q3 24 | -0.59× | — | ||
| Q2 24 | — | 5.27× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AREN
Segment breakdown not available.
FGI
| Sanitaryware | $19.1M | 63% |
| Shower System | $5.8M | 19% |
| Kitchen And Bath Other | $3.3M | 11% |
| Bath Furniture Products | $2.3M | 7% |
