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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and Forward Industries, Inc. (FWDI). Click either name above to swap in a different company.
FGI Industries Ltd. is the larger business by last-quarter revenue ($30.5M vs $21.4M, roughly 1.4× Forward Industries, Inc.). FGI Industries Ltd. runs the higher net margin — -8.6% vs -2732.2%, a 2723.6% gap on every dollar of revenue. On growth, Forward Industries, Inc. posted the faster year-over-year revenue change (224.0% vs -14.4%). Over the past eight quarters, Forward Industries, Inc.'s revenue compounded faster (74.6% CAGR vs -0.5%).
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.
Melrose Industries plc is a British aerospace manufacturing company based in Birmingham, England. It is the parent company of GKN Aerospace. The company's shares are listed on the London Stock Exchange as a constituent of the FTSE 100 Index.
FGI vs FWDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $21.4M |
| Net Profit | $-2.6M | $-585.7M |
| Gross Margin | 26.7% | 78.6% |
| Operating Margin | -2.2% | -2722.8% |
| Net Margin | -8.6% | -2732.2% |
| Revenue YoY | -14.4% | 224.0% |
| Net Profit YoY | -553.1% | -82611.5% |
| EPS (diluted) | $-1.63 | $-5.91 |
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 | $30.5M | $21.4M | ||
| Q3 25 | $35.8M | $7.9M | ||
| Q2 25 | $31.0M | $2.5M | ||
| Q1 25 | $33.2M | $3.1M | ||
| Q4 24 | $35.6M | $6.6M | ||
| Q3 24 | $36.1M | — | ||
| Q2 24 | $29.4M | $7.8M | ||
| Q1 24 | $30.8M | $5.1M |
| Q4 25 | $-2.6M | $-585.7M | ||
| Q3 25 | $-1.7M | $-164.0M | ||
| Q2 25 | $-1.2M | $-850.0K | ||
| Q1 25 | $-629.1K | $-1.5M | ||
| Q4 24 | $-402.3K | $-708.1K | ||
| Q3 24 | $-550.1K | — | ||
| Q2 24 | $163.6K | $-399.6K | ||
| Q1 24 | $-412.2K | $-553.2K |
| Q4 25 | 26.7% | 78.6% | ||
| Q3 25 | 26.5% | 61.1% | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 26.8% | -5.7% | ||
| Q4 24 | 24.6% | 17.1% | ||
| Q3 24 | 25.8% | — | ||
| Q2 24 | 30.5% | 16.8% | ||
| Q1 24 | 27.4% | 26.2% |
| Q4 25 | -2.2% | -2722.8% | ||
| Q3 25 | 1.0% | -39.2% | ||
| Q2 25 | -2.7% | -102.6% | ||
| Q1 25 | -3.9% | -58.3% | ||
| Q4 24 | -3.5% | -13.6% | ||
| Q3 24 | -0.2% | — | ||
| Q2 24 | -1.5% | -5.9% | ||
| Q1 24 | -1.0% | -12.2% |
| Q4 25 | -8.6% | -2732.2% | ||
| Q3 25 | -4.6% | -2063.6% | ||
| Q2 25 | -4.0% | -34.1% | ||
| Q1 25 | -1.9% | -46.5% | ||
| Q4 24 | -1.1% | -10.7% | ||
| Q3 24 | -1.5% | — | ||
| Q2 24 | 0.6% | -5.1% | ||
| Q1 24 | -1.3% | -10.9% |
| Q4 25 | $-1.63 | $-5.91 | ||
| Q3 25 | $-0.86 | $-21.86 | ||
| Q2 25 | $-0.64 | $-0.77 | ||
| Q1 25 | $-0.07 | $-1.32 | ||
| Q4 24 | $-0.38 | $-0.64 | ||
| Q3 24 | $-0.29 | — | ||
| Q2 24 | $0.08 | $-0.36 | ||
| Q1 24 | $-0.04 | $-0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $880.9M |
| Total Assets | $69.5M | $892.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | — | ||
| Q3 25 | $1.9M | — | ||
| Q2 25 | $2.5M | — | ||
| Q1 25 | $1.2M | — | ||
| Q4 24 | $4.6M | — | ||
| Q3 24 | $3.0M | — | ||
| Q2 24 | $1.3M | — | ||
| Q1 24 | $3.3M | — |
| Q4 25 | $17.3M | $880.9M | ||
| Q3 25 | $19.7M | $1.5B | ||
| Q2 25 | $21.3M | $3.4M | ||
| Q1 25 | $21.8M | $3.6M | ||
| Q4 24 | $22.3M | $2.3M | ||
| Q3 24 | $23.5M | — | ||
| Q2 24 | $23.8M | $1.4M | ||
| Q1 24 | $23.9M | $1.8M |
| Q4 25 | $69.5M | $892.9M | ||
| Q3 25 | $73.0M | $1.5B | ||
| Q2 25 | $71.7M | $8.3M | ||
| Q1 25 | $68.5M | $12.3M | ||
| Q4 24 | $75.5M | — | ||
| Q3 24 | $74.7M | — | ||
| Q2 24 | $69.9M | $15.2M | ||
| Q1 24 | $68.6M | $15.2M |
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 | $2.3M | $-7.9M |
| Free Cash FlowOCF − Capex | $2.3M | — |
| FCF MarginFCF / Revenue | 7.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3M | $-7.9M | ||
| Q3 25 | $-1.9M | $-4.5M | ||
| Q2 25 | $7.6M | $-1.2M | ||
| Q1 25 | $-7.4M | $-537.6K | ||
| Q4 24 | $617.4K | $-434.3K | ||
| Q3 24 | $-915.0K | — | ||
| Q2 24 | $862.1K | $436.0K | ||
| Q1 24 | $-8.0M | — |
| Q4 25 | $2.3M | — | ||
| Q3 25 | $-2.1M | $-4.5M | ||
| Q2 25 | $7.4M | $-1.2M | ||
| Q1 25 | $-7.7M | $-539.0K | ||
| Q4 24 | $-214.1K | $-439.7K | ||
| Q3 24 | $-1.1M | — | ||
| Q2 24 | $281.5K | $426.8K | ||
| Q1 24 | $-8.6M | — |
| Q4 25 | 7.5% | — | ||
| Q3 25 | -5.9% | -57.0% | ||
| Q2 25 | 23.8% | -50.0% | ||
| Q1 25 | -23.3% | -17.3% | ||
| Q4 24 | -0.6% | -6.6% | ||
| Q3 24 | -3.0% | — | ||
| Q2 24 | 1.0% | 5.5% | ||
| Q1 24 | -28.0% | — |
| Q4 25 | 0.2% | 0.0% | ||
| Q3 25 | 0.7% | 0.3% | ||
| Q2 25 | 0.7% | 0.8% | ||
| Q1 25 | 1.1% | 0.0% | ||
| Q4 24 | 2.3% | 0.1% | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 2.0% | 0.1% | ||
| Q1 24 | 2.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.27× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FGI
| Sanitaryware | $19.1M | 63% |
| Shower System | $5.8M | 19% |
| Kitchen And Bath Other | $3.3M | 11% |
| Bath Furniture Products | $2.3M | 7% |
FWDI
| CODM | $17.4M | 81% |
| Design Segment | $4.1M | 19% |
