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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
Lifeway Foods, Inc. is the larger business by last-quarter revenue ($55.4M vs $30.5M, roughly 1.8× FGI Industries Ltd.). Lifeway Foods, Inc. runs the higher net margin — 4.6% vs -8.6%, a 13.2% gap on every dollar of revenue. On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs -14.4%). FGI Industries Ltd. produced more free cash flow last quarter ($2.3M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% 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.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
FGI vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $55.4M |
| Net Profit | $-2.6M | $2.5M |
| Gross Margin | 26.7% | 27.8% |
| Operating Margin | -2.2% | 6.8% |
| Net Margin | -8.6% | 4.6% |
| Revenue YoY | -14.4% | 18.0% |
| Net Profit YoY | -553.1% | 1688.1% |
| EPS (diluted) | $-1.63 | $0.15 |
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 | $55.4M | ||
| Q3 25 | $35.8M | $57.1M | ||
| Q2 25 | $31.0M | $53.9M | ||
| Q1 25 | $33.2M | $46.1M | ||
| Q4 24 | $35.6M | $46.9M | ||
| Q3 24 | $36.1M | $46.1M | ||
| Q2 24 | $29.4M | $49.2M | ||
| Q1 24 | $30.8M | $44.6M |
| Q4 25 | $-2.6M | $2.5M | ||
| Q3 25 | $-1.7M | $3.5M | ||
| Q2 25 | $-1.2M | $4.2M | ||
| Q1 25 | $-629.1K | $3.5M | ||
| Q4 24 | $-402.3K | $-160.0K | ||
| Q3 24 | $-550.1K | $3.0M | ||
| Q2 24 | $163.6K | $3.8M | ||
| Q1 24 | $-412.2K | $2.4M |
| Q4 25 | 26.7% | 27.8% | ||
| Q3 25 | 26.5% | 28.7% | ||
| Q2 25 | 28.1% | 28.6% | ||
| Q1 25 | 26.8% | 23.9% | ||
| Q4 24 | 24.6% | 25.3% | ||
| Q3 24 | 25.8% | 25.7% | ||
| Q2 24 | 30.5% | 27.0% | ||
| Q1 24 | 27.4% | 25.8% |
| Q4 25 | -2.2% | 6.8% | ||
| Q3 25 | 1.0% | 8.8% | ||
| Q2 25 | -2.7% | 10.8% | ||
| Q1 25 | -3.9% | 3.4% | ||
| Q4 24 | -3.5% | 1.5% | ||
| Q3 24 | -0.2% | 9.1% | ||
| Q2 24 | -1.5% | 11.0% | ||
| Q1 24 | -1.0% | 8.0% |
| Q4 25 | -8.6% | 4.6% | ||
| Q3 25 | -4.6% | 6.2% | ||
| Q2 25 | -4.0% | 7.9% | ||
| Q1 25 | -1.9% | 7.7% | ||
| Q4 24 | -1.1% | -0.3% | ||
| Q3 24 | -1.5% | 6.5% | ||
| Q2 24 | 0.6% | 7.7% | ||
| Q1 24 | -1.3% | 5.4% |
| Q4 25 | $-1.63 | $0.15 | ||
| Q3 25 | $-0.86 | $0.23 | ||
| Q2 25 | $-0.64 | $0.28 | ||
| Q1 25 | $-0.07 | $0.23 | ||
| Q4 24 | $-0.38 | $0.00 | ||
| Q3 24 | $-0.29 | $0.19 | ||
| Q2 24 | $0.08 | $0.25 | ||
| Q1 24 | $-0.04 | $0.16 |
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 | $5.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $85.8M |
| Total Assets | $69.5M | $105.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $5.6M | ||
| Q3 25 | $1.9M | $23.0M | ||
| Q2 25 | $2.5M | $21.2M | ||
| Q1 25 | $1.2M | $19.4M | ||
| Q4 24 | $4.6M | $16.7M | ||
| Q3 24 | $3.0M | $20.6M | ||
| Q2 24 | $1.3M | $14.6M | ||
| Q1 24 | $3.3M | $12.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.5M |
| Q4 25 | $17.3M | $85.8M | ||
| Q3 25 | $19.7M | $82.8M | ||
| Q2 25 | $21.3M | $78.7M | ||
| Q1 25 | $21.8M | $74.2M | ||
| Q4 24 | $22.3M | $71.9M | ||
| Q3 24 | $23.5M | $71.5M | ||
| Q2 24 | $23.8M | $68.0M | ||
| Q1 24 | $23.9M | $63.5M |
| Q4 25 | $69.5M | $105.6M | ||
| Q3 25 | $73.0M | $109.5M | ||
| Q2 25 | $71.7M | $98.3M | ||
| Q1 25 | $68.5M | $93.7M | ||
| Q4 24 | $75.5M | $90.5M | ||
| Q3 24 | $74.7M | $91.3M | ||
| Q2 24 | $69.9M | $84.9M | ||
| Q1 24 | $68.6M | $82.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.04× |
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 | $267.0K |
| Free Cash FlowOCF − Capex | $2.3M | $-17.4M |
| FCF MarginFCF / Revenue | 7.5% | -31.5% |
| Capex IntensityCapex / Revenue | 0.2% | 31.9% |
| Cash ConversionOCF / Net Profit | — | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3M | $267.0K | ||
| Q3 25 | $-1.9M | $6.9M | ||
| Q2 25 | $7.6M | $3.9M | ||
| Q1 25 | $-7.4M | $-150.0K | ||
| Q4 24 | $617.4K | $-2.6M | ||
| Q3 24 | $-915.0K | $7.5M | ||
| Q2 24 | $862.1K | $6.5M | ||
| Q1 24 | $-8.0M | $1.5M |
| Q4 25 | $2.3M | $-17.4M | ||
| Q3 25 | $-2.1M | $1.8M | ||
| Q2 25 | $7.4M | $1.6M | ||
| Q1 25 | $-7.7M | $-2.4M | ||
| Q4 24 | $-214.1K | $-3.8M | ||
| Q3 24 | $-1.1M | $5.9M | ||
| Q2 24 | $281.5K | $5.1M | ||
| Q1 24 | $-8.6M | $-923.0K |
| Q4 25 | 7.5% | -31.5% | ||
| Q3 25 | -5.9% | 3.1% | ||
| Q2 25 | 23.8% | 3.0% | ||
| Q1 25 | -23.3% | -5.1% | ||
| Q4 24 | -0.6% | -8.2% | ||
| Q3 24 | -3.0% | 12.8% | ||
| Q2 24 | 1.0% | 10.4% | ||
| Q1 24 | -28.0% | -2.1% |
| Q4 25 | 0.2% | 31.9% | ||
| Q3 25 | 0.7% | 9.0% | ||
| Q2 25 | 0.7% | 4.3% | ||
| Q1 25 | 1.1% | 4.8% | ||
| Q4 24 | 2.3% | 2.7% | ||
| Q3 24 | 0.5% | 3.3% | ||
| Q2 24 | 2.0% | 2.9% | ||
| Q1 24 | 2.0% | 5.5% |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 1.96× | ||
| Q2 25 | — | 0.92× | ||
| Q1 25 | — | -0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.50× | ||
| Q2 24 | 5.27× | 1.73× | ||
| Q1 24 | — | 0.64× |
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% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
