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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and GLADSTONE COMMERCIAL CORP (GOOD). Click either name above to swap in a different company.
GLADSTONE COMMERCIAL CORP is the larger business by last-quarter revenue ($43.5M vs $30.5M, roughly 1.4× FGI Industries Ltd.). GLADSTONE COMMERCIAL CORP runs the higher net margin — 12.4% vs -8.6%, a 21.0% gap on every dollar of revenue. On growth, GLADSTONE COMMERCIAL CORP posted the faster year-over-year revenue change (16.3% vs -14.4%). Over the past eight quarters, GLADSTONE COMMERCIAL CORP's revenue compounded faster (10.3% 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.
Gladstone Commercial Corp is a publicly traded US real estate investment trust focused on acquiring, owning, and operating diversified industrial and commercial properties. It offers long-term net lease agreements to tenants across manufacturing, logistics, healthcare and professional services sectors, mainly serving small to mid-sized business clients.
FGI vs GOOD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $43.5M |
| Net Profit | $-2.6M | $5.4M |
| Gross Margin | 26.7% | — |
| Operating Margin | -2.2% | — |
| Net Margin | -8.6% | 12.4% |
| Revenue YoY | -14.4% | 16.3% |
| Net Profit YoY | -553.1% | -25.1% |
| EPS (diluted) | $-1.63 | $0.05 |
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 | $43.5M | ||
| Q3 25 | $35.8M | $40.8M | ||
| Q2 25 | $31.0M | $39.5M | ||
| Q1 25 | $33.2M | $37.5M | ||
| Q4 24 | $35.6M | $37.4M | ||
| Q3 24 | $36.1M | $39.2M | ||
| Q2 24 | $29.4M | $37.1M | ||
| Q1 24 | $30.8M | $35.7M |
| Q4 25 | $-2.6M | $5.4M | ||
| Q3 25 | $-1.7M | $4.1M | ||
| Q2 25 | $-1.2M | $4.6M | ||
| Q1 25 | $-629.1K | $5.1M | ||
| Q4 24 | $-402.3K | $7.2M | ||
| Q3 24 | $-550.1K | $11.7M | ||
| Q2 24 | $163.6K | $1.6M | ||
| Q1 24 | $-412.2K | $3.5M |
| Q4 25 | 26.7% | — | ||
| Q3 25 | 26.5% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 26.8% | — | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 25.8% | — | ||
| Q2 24 | 30.5% | — | ||
| Q1 24 | 27.4% | — |
| Q4 25 | -2.2% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | -2.7% | — | ||
| Q1 25 | -3.9% | — | ||
| Q4 24 | -3.5% | — | ||
| Q3 24 | -0.2% | — | ||
| Q2 24 | -1.5% | — | ||
| Q1 24 | -1.0% | — |
| Q4 25 | -8.6% | 12.4% | ||
| Q3 25 | -4.6% | 10.1% | ||
| Q2 25 | -4.0% | 11.7% | ||
| Q1 25 | -1.9% | 13.7% | ||
| Q4 24 | -1.1% | 19.2% | ||
| Q3 24 | -1.5% | 29.8% | ||
| Q2 24 | 0.6% | 4.3% | ||
| Q1 24 | -1.3% | 9.9% |
| Q4 25 | $-1.63 | $0.05 | ||
| Q3 25 | $-0.86 | $0.02 | ||
| Q2 25 | $-0.64 | $0.03 | ||
| Q1 25 | $-0.07 | $0.04 | ||
| Q4 24 | $-0.38 | $0.10 | ||
| Q3 24 | $-0.29 | $0.20 | ||
| Q2 24 | $0.08 | $-0.04 | ||
| Q1 24 | $-0.04 | $0.01 |
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 | $10.8M |
| Total DebtLower is stronger | — | $843.5M |
| Stockholders' EquityBook value | $17.3M | $171.8M |
| Total Assets | $69.5M | $1.2B |
| Debt / EquityLower = less leverage | — | 4.91× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $10.8M | ||
| Q3 25 | $1.9M | $18.4M | ||
| Q2 25 | $2.5M | $11.7M | ||
| Q1 25 | $1.2M | $10.4M | ||
| Q4 24 | $4.6M | $11.0M | ||
| Q3 24 | $3.0M | $10.5M | ||
| Q2 24 | $1.3M | $10.4M | ||
| Q1 24 | $3.3M | $10.5M |
| Q4 25 | — | $843.5M | ||
| Q3 25 | — | $843.3M | ||
| Q2 25 | — | $794.4M | ||
| Q1 25 | — | $740.7M | ||
| Q4 24 | — | $693.4M | ||
| Q3 24 | — | $692.6M | ||
| Q2 24 | — | $722.5M | ||
| Q1 24 | — | $719.4M |
| Q4 25 | $17.3M | $171.8M | ||
| Q3 25 | $19.7M | $184.8M | ||
| Q2 25 | $21.3M | $177.2M | ||
| Q1 25 | $21.8M | $183.2M | ||
| Q4 24 | $22.3M | $171.2M | ||
| Q3 24 | $23.5M | $168.9M | ||
| Q2 24 | $23.8M | $145.7M | ||
| Q1 24 | $23.9M | $147.3M |
| Q4 25 | $69.5M | $1.2B | ||
| Q3 25 | $73.0M | $1.3B | ||
| Q2 25 | $71.7M | $1.2B | ||
| Q1 25 | $68.5M | $1.2B | ||
| Q4 24 | $75.5M | $1.1B | ||
| Q3 24 | $74.7M | $1.1B | ||
| Q2 24 | $69.9M | $1.1B | ||
| Q1 24 | $68.6M | $1.1B |
| Q4 25 | — | 4.91× | ||
| Q3 25 | — | 4.56× | ||
| Q2 25 | — | 4.48× | ||
| Q1 25 | — | 4.04× | ||
| Q4 24 | — | 4.05× | ||
| Q3 24 | — | 4.10× | ||
| Q2 24 | — | 4.96× | ||
| Q1 24 | — | 4.88× |
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 | $88.2M |
| Free Cash FlowOCF − Capex | $2.3M | — |
| FCF MarginFCF / Revenue | 7.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | — | 16.38× |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3M | $88.2M | ||
| Q3 25 | $-1.9M | $18.9M | ||
| Q2 25 | $7.6M | $35.8M | ||
| Q1 25 | $-7.4M | $17.7M | ||
| Q4 24 | $617.4K | $57.0M | ||
| Q3 24 | $-915.0K | $5.5M | ||
| Q2 24 | $862.1K | $13.6M | ||
| Q1 24 | $-8.0M | $15.0M |
| Q4 25 | $2.3M | — | ||
| Q3 25 | $-2.1M | — | ||
| Q2 25 | $7.4M | — | ||
| Q1 25 | $-7.7M | — | ||
| Q4 24 | $-214.1K | — | ||
| Q3 24 | $-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 | -3.0% | — | ||
| Q2 24 | 1.0% | — | ||
| Q1 24 | -28.0% | — |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 2.0% | — |
| Q4 25 | — | 16.38× | ||
| Q3 25 | — | 4.57× | ||
| Q2 25 | — | 7.74× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | — | 7.93× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | 5.27× | 8.44× | ||
| Q1 24 | — | 4.26× |
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% |
GOOD
Segment breakdown not available.
