FBGL FBS Global Ltd

Overview and Growth

In fiscal 2025, FBS Global Ltd recorded $19.14M of revenue, net loss of $1.51M, and an operating cash outflow of $3.04M. The $19.14M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $10.39M in fiscal 2024, revenue recorded a 84.3% year-over-year increase. The company reported diluted EPS of -$0.11, adding a shareholder-level measure to the absolute income figures considered below. Total assets stood at $20.60M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.93x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $1.94M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 10.2% of revenue, showing how much of the top line remained after direct costs. The company recorded an operating loss of $1.43M after the reported operating expense base. An operating margin of -7.5% reflected costs exceeding revenue-level gross profit by 7.5% of sales. After all below-operating-line items, the company recorded a net loss of $1.51M for the fiscal year. The net loss equaled 7.9% of revenue, showing the bottom-line deficit relative to the company’s sales base. Before income taxes, the company recorded a loss of $1.51M, bridging the operating result to the final net loss. Pretax margin was -7.9%, reflecting a pre-tax loss equal to 7.9% of revenue. Relative to period-end equity, the net loss represented 15.7%. The net loss equaled 7.3% of period-end assets, showing the deficit relative to the asset base. Compared with a $610.77K net loss in fiscal 2024, the current loss increased to $1.51M.

Liquidity and Capital Structure

Total assets were $20.60M, supported by $11.02M of liabilities and $9.57M of shareholder equity. The near-term balance sheet paired $17.68M of current assets with $11.02M of current liabilities at the reporting date. At 1.6x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $3.94M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 35.7% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $97.17K, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 0.01x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 0.5%, showing how much of the asset base was matched by borrowing. Book equity represented 46.5% of total assets, quantifying the balance-sheet share supported by shareholder capital. Relative to total assets, liabilities measured 53.5%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 19.1%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 75.0% from $11.77M in fiscal 2024, leaving current total assets higher year over year. Against $3.21M of equity in fiscal 2024, the current book-equity balance moved 198.3% and ended higher. The reported cash balance changed 76.0% from $2.24M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Operating activities used $3.04M of cash, resulting in an operating cash outflow for the year. Capital expenditures used $58.49K in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Negative free cash flow was $3.10M, leaving a cash deficit after capital spending and reducing financial flexibility. Relative to revenue, the post-investment cash deficit represented 16.2%. Relative to total assets, the post-investment cash deficit measured 15.1%.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.