FGI · CIK 0001864943 · FY2025 live · 2025-12-31

FGI Industries Ltd.

GreySEC 10-KClassic ZMaterials56th percentile in Materials · 260 names

View as

Model

Classic Z

FY2025

2.03

Zone

Grey

Prior

—

Market DD

—

1y PD

—

Meridian Rank

55.18

0–100 · Classic Z tape · not a PD

Book standing
65
Year change
—
Market PD
—
O-score
29

Events on this name

Same published rows as Today. Not a live recompute.

Approaching distress
watch · 44
- Live Z: — → 2.03
- Cut: — → 1.80

2.03

Z″ 0.69

−21.83.08+

Score 2.03 · distress below 1.80, grey to 2.99, safe at 3.00 and above.

Classic Z factor contributions

X1 Working capital / assets
Short-term liquidity versus the size of the balance sheet.
0.11
1.2 × = 0.13
X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−0.04
1.4 × = −0.06
X3 EBIT / assets
Operating return on assets. Highest weight in the original model.
−0.03
3.3 × = −0.11
X4 Book equity / liabilities
Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.
0.32
0.6 × = 0.19
X5 Sales / assets
Asset turnover — how much revenue the asset base supports.
1.88
1 × = 1.88

Five-year path

Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.

Overview

rule-v1

FGI Industries Ltd. is on classic Z at 2.03 (grey) for FY2025, from an SEC 10-K. Sales / assets is the line that sets the print. This is the first live year on the desk. No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.

Book screen Grey; market PD —. Tape not priced — not a single default call.

Market DD · naive Merton

No market tape yet.

Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.

Sector peers

Closest Classic Z scores · 56th percentile in Materials.

KPI widgets

Current assets

$52M

Total assets

$70M

Current liabilities

$44M

Total liabilities

$54M

Working capital

$8M

Retained earnings

−$3M

EBIT

−$2M

Total sales

$131M

Book equity

$17M

Accession 0001628280-26-024682. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.