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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $30.5M, roughly 1.7× FGI Industries Ltd.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -8.6%, a 76.0% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -14.4%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $2.3M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
FGI vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $51.6M |
| Net Profit | $-2.6M | $34.8M |
| Gross Margin | 26.7% | — |
| Operating Margin | -2.2% | 97.0% |
| Net Margin | -8.6% | 67.3% |
| Revenue YoY | -14.4% | 32.8% |
| Net Profit YoY | -553.1% | 67.0% |
| EPS (diluted) | $-1.63 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $35.8M | $49.1M | ||
| Q2 25 | $31.0M | $47.6M | ||
| Q1 25 | $33.2M | $37.5M | ||
| Q4 24 | $35.6M | $38.9M | ||
| Q3 24 | $36.1M | $35.1M | ||
| Q2 24 | $29.4M | $32.4M | ||
| Q1 24 | $30.8M | $29.5M |
| Q4 25 | $-2.6M | $34.8M | ||
| Q3 25 | $-1.7M | $25.4M | ||
| Q2 25 | $-1.2M | $26.0M | ||
| Q1 25 | $-629.1K | $18.9M | ||
| Q4 24 | $-402.3K | $20.8M | ||
| Q3 24 | $-550.1K | $15.8M | ||
| Q2 24 | $163.6K | $14.8M | ||
| Q1 24 | $-412.2K | $17.3M |
| 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% | 97.0% | ||
| Q3 25 | 1.0% | 72.1% | ||
| Q2 25 | -2.7% | 71.3% | ||
| Q1 25 | -3.9% | 71.7% | ||
| Q4 24 | -3.5% | 82.5% | ||
| Q3 24 | -0.2% | 60.6% | ||
| Q2 24 | -1.5% | 61.3% | ||
| Q1 24 | -1.0% | 78.8% |
| Q4 25 | -8.6% | 67.3% | ||
| Q3 25 | -4.6% | 51.7% | ||
| Q2 25 | -4.0% | 54.6% | ||
| Q1 25 | -1.9% | 50.4% | ||
| Q4 24 | -1.1% | 53.5% | ||
| Q3 24 | -1.5% | 45.1% | ||
| Q2 24 | 0.6% | 45.6% | ||
| Q1 24 | -1.3% | 58.5% |
| Q4 25 | $-1.63 | $0.90 | ||
| Q3 25 | $-0.86 | $0.65 | ||
| Q2 25 | $-0.64 | $0.69 | ||
| Q1 25 | $-0.07 | $0.51 | ||
| Q4 24 | $-0.38 | $0.56 | ||
| Q3 24 | $-0.29 | $0.44 | ||
| Q2 24 | $0.08 | $0.42 | ||
| Q1 24 | $-0.04 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $672.5M |
| Total Assets | $69.5M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $92.1M | ||
| Q3 25 | $1.9M | $99.0M | ||
| Q2 25 | $2.5M | $79.6M | ||
| Q1 25 | $1.2M | $51.7M | ||
| Q4 24 | $4.6M | $49.9M | ||
| Q3 24 | $3.0M | $44.1M | ||
| Q2 24 | $1.3M | $47.4M | ||
| Q1 24 | $3.3M | $34.8M |
| Q4 25 | $17.3M | $672.5M | ||
| Q3 25 | $19.7M | $634.3M | ||
| Q2 25 | $21.3M | $597.9M | ||
| Q1 25 | $21.8M | $563.2M | ||
| Q4 24 | $22.3M | $516.9M | ||
| Q3 24 | $23.5M | $484.6M | ||
| Q2 24 | $23.8M | $471.3M | ||
| Q1 24 | $23.9M | $452.9M |
| Q4 25 | $69.5M | $7.4B | ||
| Q3 25 | $73.0M | $7.0B | ||
| Q2 25 | $71.7M | $6.5B | ||
| Q1 25 | $68.5M | $6.0B | ||
| Q4 24 | $75.5M | $5.5B | ||
| Q3 24 | $74.7M | $5.2B | ||
| Q2 24 | $69.9M | $4.9B | ||
| Q1 24 | $68.6M | $4.6B |
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 | $18.2M |
| Free Cash FlowOCF − Capex | $2.3M | $17.9M |
| FCF MarginFCF / Revenue | 7.5% | 34.6% |
| Capex IntensityCapex / Revenue | 0.2% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3M | $18.2M | ||
| Q3 25 | $-1.9M | $11.5M | ||
| Q2 25 | $7.6M | $7.7M | ||
| Q1 25 | $-7.4M | $3.5M | ||
| Q4 24 | $617.4K | $37.8M | ||
| Q3 24 | $-915.0K | $-17.6M | ||
| Q2 24 | $862.1K | $11.5M | ||
| Q1 24 | $-8.0M | $10.6M |
| Q4 25 | $2.3M | $17.9M | ||
| Q3 25 | $-2.1M | $11.4M | ||
| Q2 25 | $7.4M | $7.6M | ||
| Q1 25 | $-7.7M | $3.5M | ||
| Q4 24 | $-214.1K | $37.5M | ||
| Q3 24 | $-1.1M | $-17.6M | ||
| Q2 24 | $281.5K | $11.4M | ||
| Q1 24 | $-8.6M | $10.5M |
| Q4 25 | 7.5% | 34.6% | ||
| Q3 25 | -5.9% | 23.2% | ||
| Q2 25 | 23.8% | 15.9% | ||
| Q1 25 | -23.3% | 9.2% | ||
| Q4 24 | -0.6% | 96.4% | ||
| Q3 24 | -3.0% | -50.3% | ||
| Q2 24 | 1.0% | 35.1% | ||
| Q1 24 | -28.0% | 35.8% |
| Q4 25 | 0.2% | 0.5% | ||
| Q3 25 | 0.7% | 0.1% | ||
| Q2 25 | 0.7% | 0.2% | ||
| Q1 25 | 1.1% | 0.2% | ||
| Q4 24 | 2.3% | 0.7% | ||
| Q3 24 | 0.5% | 0.2% | ||
| Q2 24 | 2.0% | 0.3% | ||
| Q1 24 | 2.0% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | 5.27× | 0.78× | ||
| Q1 24 | — | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
