vs
Side-by-side financial comparison of FGI Industries Ltd. (FGI) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($58.0M vs $30.5M, roughly 1.9× FGI Industries Ltd.). FGI Industries Ltd. runs the higher net margin — -8.6% vs -53.8%, a 45.2% gap on every dollar of revenue. On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (-0.0% vs -14.4%). FGI Industries Ltd. produced more free cash flow last quarter ($2.3M vs $-16.1M). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% 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.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
FGI vs INDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $58.0M |
| Net Profit | $-2.6M | $-31.2M |
| Gross Margin | 26.7% | 37.3% |
| Operating Margin | -2.2% | -58.5% |
| Net Margin | -8.6% | -53.8% |
| Revenue YoY | -14.4% | -0.0% |
| Net Profit YoY | -553.1% | 9.1% |
| EPS (diluted) | $-1.63 | $-0.16 |
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 | $58.0M | ||
| Q3 25 | $35.8M | $53.7M | ||
| Q2 25 | $31.0M | $51.6M | ||
| Q1 25 | $33.2M | $54.1M | ||
| Q4 24 | $35.6M | $58.0M | ||
| Q3 24 | $36.1M | $54.0M | ||
| Q2 24 | $29.4M | $52.4M | ||
| Q1 24 | $30.8M | $52.4M |
| Q4 25 | $-2.6M | $-31.2M | ||
| Q3 25 | $-1.7M | $-38.3M | ||
| Q2 25 | $-1.2M | $-39.0M | ||
| Q1 25 | $-629.1K | $-34.5M | ||
| Q4 24 | $-402.3K | $-34.4M | ||
| Q3 24 | $-550.1K | $-49.7M | ||
| Q2 24 | $163.6K | $-19.2M | ||
| Q1 24 | $-412.2K | $-31.2M |
| Q4 25 | 26.7% | 37.3% | ||
| Q3 25 | 26.5% | 40.1% | ||
| Q2 25 | 28.1% | 40.6% | ||
| Q1 25 | 26.8% | 41.7% | ||
| Q4 24 | 24.6% | 42.6% | ||
| Q3 24 | 25.8% | 39.3% | ||
| Q2 24 | 30.5% | 42.2% | ||
| Q1 24 | 27.4% | 42.5% |
| Q4 25 | -2.2% | -58.5% | ||
| Q3 25 | 1.0% | -71.4% | ||
| Q2 25 | -2.7% | -83.3% | ||
| Q1 25 | -3.9% | -72.0% | ||
| Q4 24 | -3.5% | -58.4% | ||
| Q3 24 | -0.2% | -92.5% | ||
| Q2 24 | -1.5% | -70.0% | ||
| Q1 24 | -1.0% | -94.8% |
| Q4 25 | -8.6% | -53.8% | ||
| Q3 25 | -4.6% | -71.3% | ||
| Q2 25 | -4.0% | -75.6% | ||
| Q1 25 | -1.9% | -63.9% | ||
| Q4 24 | -1.1% | -59.2% | ||
| Q3 24 | -1.5% | -92.1% | ||
| Q2 24 | 0.6% | -36.6% | ||
| Q1 24 | -1.3% | -59.6% |
| Q4 25 | $-1.63 | $-0.16 | ||
| Q3 25 | $-0.86 | $-0.19 | ||
| Q2 25 | $-0.64 | $-0.20 | ||
| Q1 25 | $-0.07 | $-0.18 | ||
| Q4 24 | $-0.38 | $-0.18 | ||
| Q3 24 | $-0.29 | $-0.28 | ||
| Q2 24 | $0.08 | $-0.11 | ||
| Q1 24 | $-0.04 | $-0.19 |
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 | $145.5M |
| Total DebtLower is stronger | — | $353.4M |
| Stockholders' EquityBook value | $17.3M | $358.0M |
| Total Assets | $69.5M | $840.8M |
| Debt / EquityLower = less leverage | — | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $145.5M | ||
| Q3 25 | $1.9M | $160.9M | ||
| Q2 25 | $2.5M | $192.6M | ||
| Q1 25 | $1.2M | $236.6M | ||
| Q4 24 | $4.6M | $274.2M | ||
| Q3 24 | $3.0M | $96.9M | ||
| Q2 24 | $1.3M | $112.3M | ||
| Q1 24 | $3.3M | $138.2M |
| Q4 25 | — | $353.4M | ||
| Q3 25 | — | $353.5M | ||
| Q2 25 | — | $352.5M | ||
| Q1 25 | — | $379.0M | ||
| Q4 24 | — | $381.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $17.3M | $358.0M | ||
| Q3 25 | $19.7M | $369.2M | ||
| Q2 25 | $21.3M | $390.4M | ||
| Q1 25 | $21.8M | $405.6M | ||
| Q4 24 | $22.3M | $417.9M | ||
| Q3 24 | $23.5M | $458.6M | ||
| Q2 24 | $23.8M | $470.7M | ||
| Q1 24 | $23.9M | $432.9M |
| Q4 25 | $69.5M | $840.8M | ||
| Q3 25 | $73.0M | $855.1M | ||
| Q2 25 | $71.7M | $867.6M | ||
| Q1 25 | $68.5M | $909.0M | ||
| Q4 24 | $75.5M | $941.4M | ||
| Q3 24 | $74.7M | $797.5M | ||
| Q2 24 | $69.9M | $797.3M | ||
| Q1 24 | $68.6M | $803.6M |
| Q4 25 | — | 0.99× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-14.4M |
| Free Cash FlowOCF − Capex | $2.3M | $-16.1M |
| FCF MarginFCF / Revenue | 7.5% | -27.8% |
| Capex IntensityCapex / Revenue | 0.2% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3M | $-14.4M | ||
| Q3 25 | $-1.9M | $-6.2M | ||
| Q2 25 | $7.6M | $-7.6M | ||
| Q1 25 | $-7.4M | $-29.0M | ||
| Q4 24 | $617.4K | $-6.7M | ||
| Q3 24 | $-915.0K | $-22.8M | ||
| Q2 24 | $862.1K | $-19.7M | ||
| Q1 24 | $-8.0M | $-9.3M |
| Q4 25 | $2.3M | $-16.1M | ||
| Q3 25 | $-2.1M | $-10.3M | ||
| Q2 25 | $7.4M | $-13.6M | ||
| Q1 25 | $-7.7M | $-31.4M | ||
| Q4 24 | $-214.1K | $-8.6M | ||
| Q3 24 | $-1.1M | $-29.3M | ||
| Q2 24 | $281.5K | $-23.4M | ||
| Q1 24 | $-8.6M | $-11.7M |
| Q4 25 | 7.5% | -27.8% | ||
| Q3 25 | -5.9% | -19.2% | ||
| Q2 25 | 23.8% | -26.4% | ||
| Q1 25 | -23.3% | -58.0% | ||
| Q4 24 | -0.6% | -14.8% | ||
| Q3 24 | -3.0% | -54.3% | ||
| Q2 24 | 1.0% | -44.7% | ||
| Q1 24 | -28.0% | -22.3% |
| Q4 25 | 0.2% | 3.0% | ||
| Q3 25 | 0.7% | 7.8% | ||
| Q2 25 | 0.7% | 11.6% | ||
| Q1 25 | 1.1% | 4.4% | ||
| Q4 24 | 2.3% | 3.2% | ||
| Q3 24 | 0.5% | 12.1% | ||
| Q2 24 | 2.0% | 7.0% | ||
| Q1 24 | 2.0% | 4.4% |
| 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% |
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
