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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $30.5M, roughly 1.5× FGI Industries Ltd.). FGI Industries Ltd. runs the higher net margin — -8.6% vs -33.9%, a 25.3% gap on every dollar of revenue. On growth, FGI Industries Ltd. posted the faster year-over-year revenue change (-14.4% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% 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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
FGI vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $47.1M |
| Net Profit | $-2.6M | $-16.0M |
| Gross Margin | 26.7% | 48.9% |
| Operating Margin | -2.2% | -17.7% |
| Net Margin | -8.6% | -33.9% |
| Revenue YoY | -14.4% | -15.6% |
| Net Profit YoY | -553.1% | 68.8% |
| EPS (diluted) | $-1.63 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $35.8M | $38.2M | ||
| Q2 25 | $31.0M | $38.4M | ||
| Q1 25 | $33.2M | $32.5M | ||
| Q4 24 | $35.6M | $55.8M | ||
| Q3 24 | $36.1M | $29.3M | ||
| Q2 24 | $29.4M | $34.0M | ||
| Q1 24 | $30.8M | $25.5M |
| Q4 25 | $-2.6M | $-16.0M | ||
| Q3 25 | $-1.7M | $-23.8M | ||
| Q2 25 | $-1.2M | $202.5M | ||
| Q1 25 | $-629.1K | $-25.0M | ||
| Q4 24 | $-402.3K | $-51.1M | ||
| Q3 24 | $-550.1K | $-148.3M | ||
| Q2 24 | $163.6K | $-582.3M | ||
| Q1 24 | $-412.2K | $-72.3M |
| Q4 25 | 26.7% | 48.9% | ||
| Q3 25 | 26.5% | 35.5% | ||
| Q2 25 | 28.1% | 33.4% | ||
| Q1 25 | 26.8% | 32.4% | ||
| Q4 24 | 24.6% | -4.4% | ||
| Q3 24 | 25.8% | 21.2% | ||
| Q2 24 | 30.5% | 27.6% | ||
| Q1 24 | 27.4% | -95.0% |
| Q4 25 | -2.2% | -17.7% | ||
| Q3 25 | 1.0% | -33.6% | ||
| Q2 25 | -2.7% | -34.8% | ||
| Q1 25 | -3.9% | -65.0% | ||
| Q4 24 | -3.5% | -84.4% | ||
| Q3 24 | -0.2% | -493.2% | ||
| Q2 24 | -1.5% | -1705.5% | ||
| Q1 24 | -1.0% | -267.0% |
| Q4 25 | -8.6% | -33.9% | ||
| Q3 25 | -4.6% | -62.2% | ||
| Q2 25 | -4.0% | 527.8% | ||
| Q1 25 | -1.9% | -76.9% | ||
| Q4 24 | -1.1% | -91.6% | ||
| Q3 24 | -1.5% | -506.3% | ||
| Q2 24 | 0.6% | -1712.6% | ||
| Q1 24 | -1.3% | -283.9% |
| Q4 25 | $-1.63 | $-4.40 | ||
| Q3 25 | $-0.86 | $-2.84 | ||
| Q2 25 | $-0.64 | $-1.79 | ||
| Q1 25 | $-0.07 | $-0.15 | ||
| Q4 24 | $-0.38 | $-15.29 | ||
| Q3 24 | $-0.29 | $-18.24 | ||
| Q2 24 | $0.08 | $-71.81 | ||
| Q1 24 | $-0.04 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $-249.4M |
| Total Assets | $69.5M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $48.9M | ||
| Q3 25 | $1.9M | $43.1M | ||
| Q2 25 | $2.5M | $40.8M | ||
| Q1 25 | $1.2M | $58.6M | ||
| Q4 24 | $4.6M | $56.3M | ||
| Q3 24 | $3.0M | $75.4M | ||
| Q2 24 | $1.3M | $89.6M | ||
| Q1 24 | $3.3M | $112.8M |
| Q4 25 | $17.3M | $-249.4M | ||
| Q3 25 | $19.7M | $-235.7M | ||
| Q2 25 | $21.3M | $-214.1M | ||
| Q1 25 | $21.8M | $-417.5M | ||
| Q4 24 | $22.3M | $-398.4M | ||
| Q3 24 | $23.5M | $-344.1M | ||
| Q2 24 | $23.8M | $-203.2M | ||
| Q1 24 | $23.9M | $371.6M |
| Q4 25 | $69.5M | $308.9M | ||
| Q3 25 | $73.0M | $362.6M | ||
| Q2 25 | $71.7M | $379.2M | ||
| Q1 25 | $68.5M | $405.1M | ||
| Q4 24 | $75.5M | $437.4M | ||
| Q3 24 | $74.7M | $537.8M | ||
| Q2 24 | $69.9M | $691.5M | ||
| Q1 24 | $68.6M | $1.3B |
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 | $8.2M |
| 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 | $8.2M | ||
| Q3 25 | $-1.9M | $11.4M | ||
| Q2 25 | $7.6M | $-21.3M | ||
| Q1 25 | $-7.4M | $8.5M | ||
| Q4 24 | $617.4K | $-14.7M | ||
| Q3 24 | $-915.0K | $-9.4M | ||
| Q2 24 | $862.1K | $-11.9M | ||
| Q1 24 | $-8.0M | $-621.0K |
| 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 | — | -0.11× | ||
| 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% |
STEM
Segment breakdown not available.
