Friday 6 November 2026
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FST Corp.
KBSX Consumer Cyclical Leisure
FST Corp.’s revenue for fiscal 2025 (year ended December 2025) was $48.0 million, up 31.4% from fiscal 2024.
- Revenue
- +1.99%
- EPS
- +140.6%
- Free cash flow
- −281.8%
- Total debt
- −10.9%
Quarter to September 2026, against a year earlier
1.37
0.02
−1.44%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 29 | 36 | 48 | 53 | +29.2% | 57 | 65 | — | +16.3% | |
| Gross margin, % | — | — | — | — | — | — | — | 46.79 | 43.05 | 43.01 | 47.55 | (3.8) pt | ||||||
| EBT | — | — | — | — | — | 0 | 10 | (3) | (3) | (2) | 6 | +122.9% | ||||||
| EBT margin, % | — | — | — | — | — | 0.00 | 0.00 | (10.16) | (7.61) | (4.66) | 11.63 | (4.7) pt | ||||||
| Net income | — | 0 | — | — | — | 0 | 10 | (2) | (3) | (2) | (2) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.00 | 0.62 | 0.97 | 1.08 | 1.18 | n/m | |||||
| Earnings | — | — | — | — | — | (0.02) | 0.64 | (0.05) | (0.09) | (0.03) | 0.14 | +8.7% | ||||||
| Cash flow | — | — | — | — | — | 0.00 | (0.35) | (0.24) | (0.04) | (0.02) | 0.02 | n/m | ||||||
| Capex | — | — | — | — | — | 0.00 | 0.00 | (0.25) | (0.11) | (0.01) | (0.04) | n/m | ||||||
| Free cash flow | — | — | — | — | — | 0.00 | (0.35) | (0.49) | (0.16) | (0.04) | (0.02) | n/m | ||||||
| Book value | — | — | — | — | — | (0.02) | (1.69) | 0.60 | 0.61 | 0.35 | 0.37 | n/m | ||||||
| Shares, m | — | — | — | — | — | 3 | 3 | 46 | 38 | 44 | 45 | +92.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 367.67 | 0.00 | 8.00 | 9.83 | 125.2 | |||||
| P/S | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.97 | 1.16 | 0.3 | ||||||
| P/B | — | — | — | — | — | — | — | 1.30 | 15.81 | 4.00 | 3.74 | 7.0 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 0.00 | 0.00 | 1.30 | 1.59 | 0.4 | ||||||
| EV/FCF | — | — | — | — | — | — | — | (4.88) | (22.13) | (52.44) | (89.22) | (26.5) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 0 | (1) | (11) | (2) | (1) | 1 | n/m | |||||
| Capex | — | — | — | — | — | — | — | (12) | (4) | (1) | (2) | (77.2%) | ||||||
| Free cash flow | — | — | — | — | — | 0 | (1) | (23) | (6) | (2) | (1) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | (1) | 1 | 9 | 5 | (3) | (3) | +55.3% | |||||
| Net debt | — | — | — | — | — | — | (1) | 19 | 19 | 22 | 23 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | 0 | (5) | 27 | 23 | 16 | 16 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | (41.28) | 3.07 | (2.18) | (5.31) | (2.51) | 9.76 | +38.8 pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 0.00 | (4.21) | (5.38) | (3.90) | 4.11 | (3.9) pt | ||||||
| ROE | — | — | — | — | — | 0.00 | (75.22) | (19.70) | (12.82) | (7.78) | 44.58 | (7.8) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 2 | 2 | 1 | 21 | 19 | — | +75.6% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 28.73 | 1.74 | 2.52 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
FST Corp. vs peers in Leisure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ESCA Escalade, Incorporated | $280.5M | 11.5× | 12.4× | −3.21% (below 0%: shrinking) | +22.27% (above 0%: growing) | +1,211.78% (above 0%: growing) | 29.35% | 13.21% | Compare |
| AOUT American Outdoor Brands, Inc. | $217.7M | — (loss-making) | 61.8× | +25.43% (above 0%: growing) | n/m | +709.57% (above 0%: growing) | 52.97% | (5.68%) | Compare |
| XPOF Xponential Fitness, Inc. | $217.7M | — (loss-making) | 157× | −13.44% (below 0%: shrinking) | n/m | −887.84% (below 0%: shrinking) | 85.18% | 14.42% | Compare |
| CLAR Clarus Corporation | $162.7M | — (loss-making) | — (loss-making) | +2.70% (above 0%: growing) | n/m | +10.44% (above 0%: growing) | 40.99% | 4.68% | Compare |
| GDHG Golden Heaven Group Holdings Ltd. | $65.4M | 2.1× | — | −2.94% (below 0%: shrinking) | +7.14% (above 0%: growing) | +504.92% (above 0%: growing) | 72.08% | 0.00% | Compare |
| KBSX FST Corp. | $61.6M | 9.8× | 24.9× | +1.99% (above 0%: growing) | n/m | −281.80% (below 0%: shrinking) | 48.75% | 0.25% | |
| HERE Here Group Limited | $52.9M | 13.3× | 17.8× | −75.96% (below 0%: shrinking) | n/m | −33.02% (below 0%: shrinking) | 26.85% | (131.59%) | Compare |
| KMRK K-Tech Solutions Company Limited | $31.7M | — | — | — | — | −84.42% (below 0%: shrinking) | — | — | Compare |
| NOMA NOMADAR Corp. | $22.9M | — (loss-making) | — | +114.20% (above 0%: growing) | n/m | −8,978.46% (below 0%: shrinking) | 89.47% | (33.45%) | Compare |
| Median of peers | $114.1M | 11.5× | 39.8× | −2.94% | — | −11.29% | 52.97% | 0.00% |