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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and WEST BANCORPORATION INC (WTBA). Click either name above to swap in a different company.
FGI Industries Ltd. is the larger business by last-quarter revenue ($30.5M vs $26.9M, roughly 1.1× WEST BANCORPORATION INC). WEST BANCORPORATION INC runs the higher net margin — 39.2% vs -8.6%, a 47.9% gap on every dollar of revenue. On growth, WEST BANCORPORATION INC posted the faster year-over-year revenue change (16.6% vs -14.4%). WEST BANCORPORATION INC produced more free cash flow last quarter ($12.4M vs $2.3M). Over the past eight quarters, WEST BANCORPORATION INC's revenue compounded faster (17.3% 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.
West Bancorporation Inc. is a regional financial holding company headquartered in the U.S. Midwest, primarily serving markets across Iowa and Minnesota. It provides a full suite of personal and commercial banking services, including deposit accounts, mortgage loans, business lending, and wealth management solutions for individual consumers, small-to-medium enterprises, and local organizational clients.
FGI vs WTBA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $26.9M |
| Net Profit | $-2.6M | $10.6M |
| Gross Margin | 26.7% | — |
| Operating Margin | -2.2% | 50.0% |
| Net Margin | -8.6% | 39.2% |
| Revenue YoY | -14.4% | 16.6% |
| Net Profit YoY | -553.1% | 34.8% |
| EPS (diluted) | $-1.63 | $0.61 |
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.
| Q1 26 | — | $26.9M | ||
| Q4 25 | $30.5M | $24.2M | ||
| Q3 25 | $35.8M | $25.0M | ||
| Q2 25 | $31.0M | $23.8M | ||
| Q1 25 | $33.2M | $23.1M | ||
| Q4 24 | $35.6M | $20.9M | ||
| Q3 24 | $36.1M | $20.3M | ||
| Q2 24 | $29.4M | $19.6M |
| Q1 26 | — | $10.6M | ||
| Q4 25 | $-2.6M | $7.4M | ||
| Q3 25 | $-1.7M | $9.3M | ||
| Q2 25 | $-1.2M | $8.0M | ||
| Q1 25 | $-629.1K | $7.8M | ||
| Q4 24 | $-402.3K | $7.1M | ||
| Q3 24 | $-550.1K | $6.0M | ||
| Q2 24 | $163.6K | $5.2M |
| Q1 26 | — | — | ||
| 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 26 | — | 50.0% | ||
| Q4 25 | -2.2% | 39.6% | ||
| Q3 25 | 1.0% | 45.8% | ||
| Q2 25 | -2.7% | 43.4% | ||
| Q1 25 | -3.9% | 43.4% | ||
| Q4 24 | -3.5% | 30.9% | ||
| Q3 24 | -0.2% | 36.6% | ||
| Q2 24 | -1.5% | 32.6% |
| Q1 26 | — | 39.2% | ||
| Q4 25 | -8.6% | 30.7% | ||
| Q3 25 | -4.6% | 37.3% | ||
| Q2 25 | -4.0% | 33.5% | ||
| Q1 25 | -1.9% | 34.0% | ||
| Q4 24 | -1.1% | 34.0% | ||
| Q3 24 | -1.5% | 29.3% | ||
| Q2 24 | 0.6% | 26.5% |
| Q1 26 | — | $0.61 | ||
| Q4 25 | $-1.63 | $0.44 | ||
| Q3 25 | $-0.86 | $0.55 | ||
| Q2 25 | $-0.64 | $0.47 | ||
| Q1 25 | $-0.07 | $0.46 | ||
| Q4 24 | $-0.38 | $0.41 | ||
| Q3 24 | $-0.29 | $0.35 | ||
| Q2 24 | $0.08 | $0.31 |
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 | $362.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $270.7M |
| Total Assets | $69.5M | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $362.0M | ||
| Q4 25 | $1.9M | $471.1M | ||
| Q3 25 | $1.9M | $232.9M | ||
| Q2 25 | $2.5M | $345.2M | ||
| Q1 25 | $1.2M | — | ||
| Q4 24 | $4.6M | $243.5M | ||
| Q3 24 | $3.0M | — | ||
| Q2 24 | $1.3M | — |
| Q1 26 | — | $270.7M | ||
| Q4 25 | $17.3M | $266.0M | ||
| Q3 25 | $19.7M | $255.1M | ||
| Q2 25 | $21.3M | $240.9M | ||
| Q1 25 | $21.8M | $237.9M | ||
| Q4 24 | $22.3M | $227.9M | ||
| Q3 24 | $23.5M | $235.4M | ||
| Q2 24 | $23.8M | $223.9M |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $69.5M | $4.1B | ||
| Q3 25 | $73.0M | $4.0B | ||
| Q2 25 | $71.7M | $4.1B | ||
| Q1 25 | $68.5M | $4.0B | ||
| Q4 24 | $75.5M | $4.0B | ||
| Q3 24 | $74.7M | $4.0B | ||
| Q2 24 | $69.9M | $4.0B |
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 | $12.9M |
| Free Cash FlowOCF − Capex | $2.3M | $12.4M |
| FCF MarginFCF / Revenue | 7.5% | 46.0% |
| Capex IntensityCapex / Revenue | 0.2% | 1.8% |
| Cash ConversionOCF / Net Profit | — | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | $79.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.9M | ||
| Q4 25 | $2.3M | $46.5M | ||
| Q3 25 | $-1.9M | $11.4M | ||
| Q2 25 | $7.6M | $13.5M | ||
| Q1 25 | $-7.4M | $9.7M | ||
| Q4 24 | $617.4K | $39.8M | ||
| Q3 24 | $-915.0K | $12.9M | ||
| Q2 24 | $862.1K | $10.0M |
| Q1 26 | — | $12.4M | ||
| Q4 25 | $2.3M | $43.2M | ||
| Q3 25 | $-2.1M | $10.8M | ||
| Q2 25 | $7.4M | $12.8M | ||
| Q1 25 | $-7.7M | $8.3M | ||
| Q4 24 | $-214.1K | $13.7M | ||
| Q3 24 | $-1.1M | $7.0M | ||
| Q2 24 | $281.5K | $2.7M |
| Q1 26 | — | 46.0% | ||
| Q4 25 | 7.5% | 178.3% | ||
| Q3 25 | -5.9% | 43.0% | ||
| Q2 25 | 23.8% | 53.6% | ||
| Q1 25 | -23.3% | 35.7% | ||
| Q4 24 | -0.6% | 65.6% | ||
| Q3 24 | -3.0% | 34.2% | ||
| Q2 24 | 1.0% | 14.0% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | 0.2% | 13.7% | ||
| Q3 25 | 0.7% | 2.6% | ||
| Q2 25 | 0.7% | 3.2% | ||
| Q1 25 | 1.1% | 6.5% | ||
| Q4 24 | 2.3% | 125.3% | ||
| Q3 24 | 0.5% | 29.4% | ||
| Q2 24 | 2.0% | 37.1% |
| Q1 26 | — | 1.22× | ||
| Q4 25 | — | 6.26× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.70× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 5.61× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | 5.27× | 1.93× |
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% |
WTBA
Segment breakdown not available.
