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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and Maison Solutions Inc. (MSS). Click either name above to swap in a different company.
FGI Industries Ltd. is the larger business by last-quarter revenue ($30.5M vs $27.6M, roughly 1.1× Maison Solutions Inc.). FGI Industries Ltd. runs the higher net margin — -8.6% vs -18.0%, a 9.4% gap on every dollar of revenue. On growth, Maison Solutions Inc. posted the faster year-over-year revenue change (-10.9% vs -14.4%). Over the past eight quarters, Maison Solutions Inc.'s revenue compounded faster (42.5% 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.
Maison Solutions Inc.MSSEarnings & Financial Report
Maison Solutions Inc. is a specialty home goods retail company that provides a diverse portfolio of stylish, affordably priced furniture, home decor items, and daily household products. Its primary market is the Guangdong-Hong Kong-Macao Greater Bay Area in China, serving mass consumers through both offline physical stores and online e-commerce channels.
FGI vs MSS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $27.6M |
| Net Profit | $-2.6M | $-5.0M |
| Gross Margin | 26.7% | 23.4% |
| Operating Margin | -2.2% | -4.9% |
| Net Margin | -8.6% | -18.0% |
| Revenue YoY | -14.4% | -10.9% |
| Net Profit YoY | -553.1% | -1840.5% |
| EPS (diluted) | $-1.63 | $-0.23 |
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 | $27.6M | ||
| Q3 25 | $35.8M | $27.2M | ||
| Q2 25 | $31.0M | $34.4M | ||
| Q1 25 | $33.2M | $32.3M | ||
| Q4 24 | $35.6M | $29.4M | ||
| Q3 24 | $36.1M | $28.2M | ||
| Q2 24 | $29.4M | $16.9M | ||
| Q1 24 | $30.8M | $13.6M |
| Q4 25 | $-2.6M | $-5.0M | ||
| Q3 25 | $-1.7M | $-1.5M | ||
| Q2 25 | $-1.2M | $-287.4K | ||
| Q1 25 | $-629.1K | $1.0M | ||
| Q4 24 | $-402.3K | $-256.0K | ||
| Q3 24 | $-550.1K | $700.9K | ||
| Q2 24 | $163.6K | $-2.8M | ||
| Q1 24 | $-412.2K | $-549.0K |
| Q4 25 | 26.7% | 23.4% | ||
| Q3 25 | 26.5% | 24.1% | ||
| Q2 25 | 28.1% | 9.5% | ||
| Q1 25 | 26.8% | 21.8% | ||
| Q4 24 | 24.6% | 26.9% | ||
| Q3 24 | 25.8% | 28.9% | ||
| Q2 24 | 30.5% | 13.0% | ||
| Q1 24 | 27.4% | 23.4% |
| Q4 25 | -2.2% | -4.9% | ||
| Q3 25 | 1.0% | 0.7% | ||
| Q2 25 | -2.7% | -15.9% | ||
| Q1 25 | -3.9% | 3.7% | ||
| Q4 24 | -3.5% | 3.2% | ||
| Q3 24 | -0.2% | 7.3% | ||
| Q2 24 | -1.5% | -14.4% | ||
| Q1 24 | -1.0% | -2.3% |
| Q4 25 | -8.6% | -18.0% | ||
| Q3 25 | -4.6% | -5.7% | ||
| Q2 25 | -4.0% | -0.8% | ||
| Q1 25 | -1.9% | 3.1% | ||
| Q4 24 | -1.1% | -0.9% | ||
| Q3 24 | -1.5% | 2.5% | ||
| Q2 24 | 0.6% | -16.4% | ||
| Q1 24 | -1.3% | -4.0% |
| Q4 25 | $-1.63 | $-0.23 | ||
| Q3 25 | $-0.86 | $-0.08 | ||
| Q2 25 | $-0.64 | $-0.02 | ||
| Q1 25 | $-0.07 | $0.06 | ||
| Q4 24 | $-0.38 | $-0.01 | ||
| Q3 24 | $-0.29 | $0.04 | ||
| Q2 24 | $0.08 | $-0.16 | ||
| Q1 24 | $-0.04 | $-0.03 |
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 | — | $2.6M |
| Stockholders' EquityBook value | $17.3M | $11.6M |
| Total Assets | $69.5M | $75.4M |
| Debt / EquityLower = less leverage | — | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | — | ||
| Q3 25 | $1.9M | $1.1M | ||
| Q2 25 | $2.5M | $775.4K | ||
| Q1 25 | $1.2M | $445.4K | ||
| Q4 24 | $4.6M | $355.7K | ||
| Q3 24 | $3.0M | $588.9K | ||
| Q2 24 | $1.3M | $2.1M | ||
| Q1 24 | $3.3M | $9.4M |
| Q4 25 | — | $2.6M | ||
| Q3 25 | — | $2.6M | ||
| Q2 25 | — | $2.6M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.5M | ||
| Q2 24 | — | $2.6M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | $17.3M | $11.6M | ||
| Q3 25 | $19.7M | $10.1M | ||
| Q2 25 | $21.3M | $11.7M | ||
| Q1 25 | $21.8M | $12.0M | ||
| Q4 24 | $22.3M | $10.9M | ||
| Q3 24 | $23.5M | $11.2M | ||
| Q2 24 | $23.8M | $10.5M | ||
| Q1 24 | $23.9M | $13.3M |
| Q4 25 | $69.5M | $75.4M | ||
| Q3 25 | $73.0M | $73.3M | ||
| Q2 25 | $71.7M | $77.4M | ||
| Q1 25 | $68.5M | $82.7M | ||
| Q4 24 | $75.5M | $82.7M | ||
| Q3 24 | $74.7M | $82.1M | ||
| Q2 24 | $69.9M | $82.4M | ||
| Q1 24 | $68.6M | $44.2M |
| Q4 25 | — | 0.22× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.24× | ||
| Q1 24 | — | 0.19× |
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 | $-1.7M |
| 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 | $-1.7M | ||
| Q3 25 | $-1.9M | $1.1M | ||
| Q2 25 | $7.6M | $-1.6M | ||
| Q1 25 | $-7.4M | $1.7M | ||
| Q4 24 | $617.4K | $1.1M | ||
| Q3 24 | $-915.0K | $3.6M | ||
| Q2 24 | $862.1K | $-2.6M | ||
| Q1 24 | $-8.0M | $-1.4M |
| 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 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.66× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.12× | ||
| 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% |
MSS
| Perishables | $14.4M | 52% |
| Nonperishables | $13.2M | 48% |
