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Side-by-side financial comparison of FRP HOLDINGS, INC. (FRPH) and FLEXIBLE SOLUTIONS INTERNATIONAL INC (FSI). Click either name above to swap in a different company.

FRP HOLDINGS, INC. is the larger business by last-quarter revenue ($10.9M vs $9.1M, roughly 1.2× FLEXIBLE SOLUTIONS INTERNATIONAL INC). FRP HOLDINGS, INC. runs the higher net margin — 1.3% vs -5.1%, a 6.3% gap on every dollar of revenue. On growth, FRP HOLDINGS, INC. posted the faster year-over-year revenue change (3.6% vs -0.5%). FLEXIBLE SOLUTIONS INTERNATIONAL INC produced more free cash flow last quarter ($-4.0M vs $-21.5M). Over the past eight quarters, FRP HOLDINGS, INC.'s revenue compounded faster (3.8% CAGR vs -0.6%).

FRP Advisory is a business advisory firm based in the United Kingdom, providing restructuring, corporate finance, debt advisory, forensic accounting and financial advisory and is one of the UK’s largest specialists in the area of corporate restructuring.

Flexible Solutions International Inc develops and manufactures specialty chemicals for water conservation, energy efficiency, and agricultural use. Core products include water body evaporative reduction solutions, farm crop yield additives, and swimming pool heat retention products, serving customers across North America and global agricultural markets.

FRPH vs FSI — Head-to-Head

Bigger by revenue
FRPH
FRPH
1.2× larger
FRPH
$10.9M
$9.1M
FSI
Growing faster (revenue YoY)
FRPH
FRPH
+4.2% gap
FRPH
3.6%
-0.5%
FSI
Higher net margin
FRPH
FRPH
6.3% more per $
FRPH
1.3%
-5.1%
FSI
More free cash flow
FSI
FSI
$17.4M more FCF
FSI
$-4.0M
$-21.5M
FRPH
Faster 2-yr revenue CAGR
FRPH
FRPH
Annualised
FRPH
3.8%
-0.6%
FSI

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
FRPH
FRPH
FSI
FSI
Revenue
$10.9M
$9.1M
Net Profit
$139.0K
$-460.9K
Gross Margin
29.4%
Operating Margin
15.4%
11.6%
Net Margin
1.3%
-5.1%
Revenue YoY
3.6%
-0.5%
Net Profit YoY
-91.8%
-167.8%
EPS (diluted)
$0.03
$-0.03

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.

Revenue
FRPH
FRPH
FSI
FSI
Q4 25
$10.9M
$9.1M
Q3 25
$10.8M
$10.6M
Q2 25
$10.8M
$11.4M
Q1 25
$10.3M
$7.5M
Q4 24
$10.5M
$9.2M
Q3 24
$10.6M
$9.3M
Q2 24
$10.5M
$10.5M
Q1 24
$10.1M
$9.2M
Net Profit
FRPH
FRPH
FSI
FSI
Q4 25
$139.0K
$-460.9K
Q3 25
$662.0K
$-503.4K
Q2 25
$578.0K
$2.0M
Q1 25
$1.7M
$-277.7K
Q4 24
$1.7M
$679.6K
Q3 24
$1.4M
$611.9K
Q2 24
$2.0M
$1.3M
Q1 24
$1.3M
$457.2K
Gross Margin
FRPH
FRPH
FSI
FSI
Q4 25
29.4%
Q3 25
23.9%
Q2 25
47.4%
Q1 25
26.1%
Q4 24
29.2%
Q3 24
40.9%
Q2 24
37.4%
Q1 24
30.6%
Operating Margin
FRPH
FRPH
FSI
FSI
Q4 25
15.4%
11.6%
Q3 25
12.6%
2.9%
Q2 25
15.3%
29.0%
Q1 25
22.6%
-0.9%
Q4 24
27.7%
9.4%
Q3 24
29.0%
20.5%
Q2 24
26.9%
18.7%
Q1 24
28.4%
8.3%
Net Margin
FRPH
FRPH
FSI
FSI
Q4 25
1.3%
-5.1%
Q3 25
6.1%
-4.8%
Q2 25
5.3%
17.8%
Q1 25
16.6%
-3.7%
Q4 24
16.0%
7.4%
Q3 24
12.8%
6.6%
Q2 24
19.5%
12.3%
Q1 24
12.8%
5.0%
EPS (diluted)
FRPH
FRPH
FSI
FSI
Q4 25
$0.03
$-0.03
Q3 25
$0.03
$-0.04
Q2 25
$0.03
$0.15
Q1 25
$0.09
$-0.02
Q4 24
$0.09
$0.05
Q3 24
$0.07
$0.05
Q2 24
$0.11
$0.10
Q1 24
$0.07
$0.04

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FRPH
FRPH
FSI
FSI
Cash + ST InvestmentsLiquidity on hand
Total DebtLower is stronger
$192.6M
$4.4M
Stockholders' EquityBook value
$428.5M
$38.9M
Total Assets
$735.1M
$61.8M
Debt / EquityLower = less leverage
0.45×
0.11×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FRPH
FRPH
FSI
FSI
Q4 25
Q3 25
$134.9M
Q2 25
$153.2M
$10.0M
Q1 25
$142.9M
$11.0M
Q4 24
$148.6M
$10.0M
Q3 24
$144.7M
$13.0M
Q2 24
$156.9M
$9.2M
Q1 24
$152.5M
$8.3M
Total Debt
FRPH
FRPH
FSI
FSI
Q4 25
$192.6M
$4.4M
Q3 25
$185.3M
$7.1M
Q2 25
$180.4M
$7.5M
Q1 25
$178.3M
$8.1M
Q4 24
$178.9M
$8.8M
Q3 24
$178.8M
$9.4M
Q2 24
$178.8M
$8.3M
Q1 24
$178.7M
$8.0M
Stockholders' Equity
FRPH
FRPH
FSI
FSI
Q4 25
$428.5M
$38.9M
Q3 25
$427.7M
$39.0M
Q2 25
$426.7M
$39.4M
Q1 25
$425.2M
$38.4M
Q4 24
$423.1M
$38.0M
Q3 24
$420.9M
$36.9M
Q2 24
$419.1M
$36.2M
Q1 24
$416.1M
$36.0M
Total Assets
FRPH
FRPH
FSI
FSI
Q4 25
$735.1M
$61.8M
Q3 25
$731.3M
$58.4M
Q2 25
$722.8M
$58.2M
Q1 25
$717.1M
$61.7M
Q4 24
$728.5M
$60.0M
Q3 24
$726.9M
$57.8M
Q2 24
$711.9M
$56.3M
Q1 24
$705.7M
$57.6M
Debt / Equity
FRPH
FRPH
FSI
FSI
Q4 25
0.45×
0.11×
Q3 25
0.43×
0.18×
Q2 25
0.42×
0.19×
Q1 25
0.42×
0.21×
Q4 24
0.42×
0.23×
Q3 24
0.42×
0.25×
Q2 24
0.43×
0.23×
Q1 24
0.43×
0.22×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FRPH
FRPH
FSI
FSI
Operating Cash FlowLast quarter
$29.7M
$-3.0M
Free Cash FlowOCF − Capex
$-21.5M
$-4.0M
FCF MarginFCF / Revenue
-196.6%
-44.3%
Capex IntensityCapex / Revenue
468.5%
11.7%
Cash ConversionOCF / Net Profit
213.50×
TTM Free Cash FlowTrailing 4 quarters
$-34.4M
$-591.7K

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FRPH
FRPH
FSI
FSI
Q4 25
$29.7M
$-3.0M
Q3 25
$8.1M
$2.0M
Q2 25
$8.7M
$5.3M
Q1 25
$4.5M
$-544.3K
Q4 24
$29.0M
$-2.2M
Q3 24
$6.3M
$2.5M
Q2 24
$12.2M
$5.9M
Q1 24
$2.9M
$-604.8K
Free Cash Flow
FRPH
FRPH
FSI
FSI
Q4 25
$-21.5M
$-4.0M
Q3 25
$-16.9M
$39.4K
Q2 25
$2.6M
$4.3M
Q1 25
$1.4M
$-898.4K
Q4 24
$-22.2M
$-4.3M
Q3 24
$-28.2M
$1.3M
Q2 24
$5.9M
$4.7M
Q1 24
$-3.3M
$-1.1M
FCF Margin
FRPH
FRPH
FSI
FSI
Q4 25
-196.6%
-44.3%
Q3 25
-157.0%
0.4%
Q2 25
24.0%
37.9%
Q1 25
13.6%
-12.0%
Q4 24
-210.9%
-47.0%
Q3 24
-265.7%
13.6%
Q2 24
56.0%
44.9%
Q1 24
-32.6%
-11.7%
Capex Intensity
FRPH
FRPH
FSI
FSI
Q4 25
468.5%
11.7%
Q3 25
232.0%
18.7%
Q2 25
55.9%
8.6%
Q1 25
30.1%
4.7%
Q4 24
486.1%
22.8%
Q3 24
325.1%
13.0%
Q2 24
60.3%
11.3%
Q1 24
61.2%
5.2%
Cash Conversion
FRPH
FRPH
FSI
FSI
Q4 25
213.50×
Q3 25
12.21×
Q2 25
15.00×
2.60×
Q1 25
2.63×
Q4 24
17.18×
-3.27×
Q3 24
4.65×
4.05×
Q2 24
5.96×
4.59×
Q1 24
2.23×
-1.32×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

FRPH
FRPH

Other$5.6M51%
Multifamily Segment$5.3M49%

FSI
FSI

Segment breakdown not available.

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