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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and MFA FINANCIAL, INC. (MFA). Click either name above to swap in a different company.
MFA FINANCIAL, INC. is the larger business by last-quarter revenue ($55.5M vs $30.5M, roughly 1.8× FGI Industries Ltd.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs -14.4%). Over the past eight quarters, MFA FINANCIAL, INC.'s revenue compounded faster (7.7% 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.
MFA Financial, Inc. is a U.S.-headquartered real estate investment trust (REIT) specializing in investing in and managing residential and commercial mortgage-backed securities, mortgage loans, and other real estate-related financial assets. It caters primarily to institutional and individual investors across the U.S., focusing on delivering stable risk-adjusted returns via rigorous asset screening and risk management frameworks.
FGI vs MFA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $55.5M |
| Net Profit | $-2.6M | — |
| Gross Margin | 26.7% | — |
| Operating Margin | -2.2% | 97.9% |
| Net Margin | -8.6% | — |
| Revenue YoY | -14.4% | 9.2% |
| Net Profit YoY | -553.1% | — |
| EPS (diluted) | $-1.63 | $0.43 |
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 | $55.5M | ||
| Q3 25 | $35.8M | $56.8M | ||
| Q2 25 | $31.0M | $61.3M | ||
| Q1 25 | $33.2M | $57.5M | ||
| Q4 24 | $35.6M | $50.8M | ||
| Q3 24 | $36.1M | $50.6M | ||
| Q2 24 | $29.4M | $53.5M | ||
| Q1 24 | $30.8M | $47.8M |
| Q4 25 | $-2.6M | — | ||
| Q3 25 | $-1.7M | $48.1M | ||
| Q2 25 | $-1.2M | $33.2M | ||
| Q1 25 | $-629.1K | $41.2M | ||
| Q4 24 | $-402.3K | — | ||
| Q3 24 | $-550.1K | $48.2M | ||
| Q2 24 | $163.6K | $41.9M | ||
| Q1 24 | $-412.2K | $23.2M |
| 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% | 97.9% | ||
| Q3 25 | 1.0% | 84.5% | ||
| Q2 25 | -2.7% | 54.5% | ||
| Q1 25 | -3.9% | 70.0% | ||
| Q4 24 | -3.5% | 6.8% | ||
| Q3 24 | -0.2% | 98.2% | ||
| Q2 24 | -1.5% | 79.1% | ||
| Q1 24 | -1.0% | 50.7% |
| Q4 25 | -8.6% | — | ||
| Q3 25 | -4.6% | 84.7% | ||
| Q2 25 | -4.0% | 54.2% | ||
| Q1 25 | -1.9% | 71.6% | ||
| Q4 24 | -1.1% | — | ||
| Q3 24 | -1.5% | 95.2% | ||
| Q2 24 | 0.6% | 78.4% | ||
| Q1 24 | -1.3% | 48.5% |
| Q4 25 | $-1.63 | $0.43 | ||
| Q3 25 | $-0.86 | $0.35 | ||
| Q2 25 | $-0.64 | $0.21 | ||
| Q1 25 | $-0.07 | $0.31 | ||
| Q4 24 | $-0.38 | $-0.01 | ||
| Q3 24 | $-0.29 | $0.37 | ||
| Q2 24 | $0.08 | $0.32 | ||
| Q1 24 | $-0.04 | $0.14 |
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 | $213.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $1.8B |
| Total Assets | $69.5M | $13.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $213.2M | ||
| Q3 25 | $1.9M | $305.2M | ||
| Q2 25 | $2.5M | $275.7M | ||
| Q1 25 | $1.2M | $253.7M | ||
| Q4 24 | $4.6M | $338.9M | ||
| Q3 24 | $3.0M | $305.6M | ||
| Q2 24 | $1.3M | $289.4M | ||
| Q1 24 | $3.3M | $306.3M |
| Q4 25 | $17.3M | $1.8B | ||
| Q3 25 | $19.7M | $1.8B | ||
| Q2 25 | $21.3M | $1.8B | ||
| Q1 25 | $21.8M | $1.8B | ||
| Q4 24 | $22.3M | $1.8B | ||
| Q3 24 | $23.5M | $1.9B | ||
| Q2 24 | $23.8M | $1.9B | ||
| Q1 24 | $23.9M | $1.9B |
| Q4 25 | $69.5M | $13.0B | ||
| Q3 25 | $73.0M | $12.1B | ||
| Q2 25 | $71.7M | $11.7B | ||
| Q1 25 | $68.5M | $11.5B | ||
| Q4 24 | $75.5M | $11.4B | ||
| Q3 24 | $74.7M | $11.2B | ||
| Q2 24 | $69.9M | $11.1B | ||
| Q1 24 | $68.6M | $10.9B |
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 | $76.2M |
| Free Cash FlowOCF − Capex | $2.3M | — |
| FCF MarginFCF / Revenue | 7.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3M | $76.2M | ||
| Q3 25 | $-1.9M | $14.7M | ||
| Q2 25 | $7.6M | $38.5M | ||
| Q1 25 | $-7.4M | $-14.6M | ||
| Q4 24 | $617.4K | $200.1M | ||
| Q3 24 | $-915.0K | $-11.3M | ||
| Q2 24 | $862.1K | $46.5M | ||
| Q1 24 | $-8.0M | $53.5M |
| 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 | — | — | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.23× | ||
| Q2 24 | 5.27× | 1.11× | ||
| Q1 24 | — | 2.30× |
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% |
MFA
Segment breakdown not available.
