vs
Side-by-side financial comparison of FGI Industries Ltd. (FGI) and SolarMax Technology, Inc. (SMXT). Click either name above to swap in a different company.
SolarMax Technology, Inc. is the larger business by last-quarter revenue ($46.6M vs $30.5M, roughly 1.5× FGI Industries Ltd.). SolarMax Technology, Inc. runs the higher net margin — -1.9% vs -8.6%, a 6.8% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs -14.4%).
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.
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
FGI vs SMXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $46.6M |
| Net Profit | $-2.6M | $-872.2K |
| Gross Margin | 26.7% | 2.7% |
| Operating Margin | -2.2% | -2.7% |
| Net Margin | -8.6% | -1.9% |
| Revenue YoY | -14.4% | 623.5% |
| Net Profit YoY | -553.1% | 77.7% |
| EPS (diluted) | $-1.63 | $-0.02 |
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 | $46.6M | ||
| Q3 25 | $35.8M | $30.6M | ||
| Q2 25 | $31.0M | $6.9M | ||
| Q1 25 | $33.2M | $6.9M | ||
| Q4 24 | $35.6M | $6.4M | ||
| Q3 24 | $36.1M | $6.3M | ||
| Q2 24 | $29.4M | — | ||
| Q1 24 | $30.8M | — |
| Q4 25 | $-2.6M | $-872.2K | ||
| Q3 25 | $-1.7M | $-2.3M | ||
| Q2 25 | $-1.2M | $-1.9M | ||
| Q1 25 | $-629.1K | $-1.3M | ||
| Q4 24 | $-402.3K | $-3.9M | ||
| Q3 24 | $-550.1K | $-9.6M | ||
| Q2 24 | $163.6K | — | ||
| Q1 24 | $-412.2K | — |
| Q4 25 | 26.7% | 2.7% | ||
| Q3 25 | 26.5% | 3.1% | ||
| Q2 25 | 28.1% | 8.8% | ||
| Q1 25 | 26.8% | 20.5% | ||
| Q4 24 | 24.6% | 14.5% | ||
| Q3 24 | 25.8% | 19.9% | ||
| Q2 24 | 30.5% | — | ||
| Q1 24 | 27.4% | — |
| Q4 25 | -2.2% | -2.7% | ||
| Q3 25 | 1.0% | -6.9% | ||
| Q2 25 | -2.7% | -25.7% | ||
| Q1 25 | -3.9% | -16.7% | ||
| Q4 24 | -3.5% | -27.9% | ||
| Q3 24 | -0.2% | -158.4% | ||
| Q2 24 | -1.5% | — | ||
| Q1 24 | -1.0% | — |
| Q4 25 | -8.6% | -1.9% | ||
| Q3 25 | -4.6% | -7.4% | ||
| Q2 25 | -4.0% | -27.6% | ||
| Q1 25 | -1.9% | -18.7% | ||
| Q4 24 | -1.1% | -60.6% | ||
| Q3 24 | -1.5% | -152.0% | ||
| Q2 24 | 0.6% | — | ||
| Q1 24 | -1.3% | — |
| Q4 25 | $-1.63 | $-0.02 | ||
| Q3 25 | $-0.86 | $-0.04 | ||
| Q2 25 | $-0.64 | $-0.04 | ||
| Q1 25 | $-0.07 | $-0.03 | ||
| Q4 24 | $-0.38 | $-0.07 | ||
| Q3 24 | $-0.29 | $-0.21 | ||
| Q2 24 | $0.08 | — | ||
| Q1 24 | $-0.04 | — |
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 | $8.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $-12.2M |
| Total Assets | $69.5M | $91.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $8.0M | ||
| Q3 25 | $1.9M | $5.7M | ||
| Q2 25 | $2.5M | $1.9M | ||
| Q1 25 | $1.2M | $6.8M | ||
| Q4 24 | $4.6M | $7.1M | ||
| Q3 24 | $3.0M | $8.6M | ||
| Q2 24 | $1.3M | — | ||
| Q1 24 | $3.3M | — |
| Q4 25 | $17.3M | $-12.2M | ||
| Q3 25 | $19.7M | $-11.8M | ||
| Q2 25 | $21.3M | $-15.1M | ||
| Q1 25 | $21.8M | $-15.9M | ||
| Q4 24 | $22.3M | $-15.1M | ||
| Q3 24 | $23.5M | $-10.9M | ||
| Q2 24 | $23.8M | — | ||
| Q1 24 | $23.9M | — |
| Q4 25 | $69.5M | $91.3M | ||
| Q3 25 | $73.0M | $58.7M | ||
| Q2 25 | $71.7M | $38.2M | ||
| Q1 25 | $68.5M | $38.6M | ||
| Q4 24 | $75.5M | $38.6M | ||
| Q3 24 | $74.7M | $43.0M | ||
| Q2 24 | $69.9M | — | ||
| Q1 24 | $68.6M | — |
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 | $-2.5M |
| 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 | $-2.5M | ||
| Q3 25 | $-1.9M | $3.4M | ||
| Q2 25 | $7.6M | $220.7K | ||
| Q1 25 | $-7.4M | $-601.1K | ||
| Q4 24 | $617.4K | $-1.3M | ||
| Q3 24 | $-915.0K | $203.6K | ||
| Q2 24 | $862.1K | — | ||
| Q1 24 | $-8.0M | — |
| 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% | 0.0% | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 2.0% | — |
| 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% |
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
