Founder Group Limited Ordinary Shares (FGL) 10-Year Financial Performance & Capital Metrics

FGL • • Industrial / General

IndustrialsEngineering & ConstructionEnergy & Industrial ConstructionIndustrial Plant Construction

AboutFounder Group Limited provides engineering, procurement, construction, and commissioning solutions for solar projects and commercial and industrial solar projects in Malaysia. The company also engages in the installation, testing, and commissioning of photovoltaic modules, inverters, DC cables, and related works; and civil works. It also provides operation and maintenance services. The company was founded in 2021 and is based in Klang, Malaysia.Show more

Revenue $90M -39.0%
EBITDA -$5M -142.1%
Net Income -$5M -172.1%
EPS (Diluted) -0.07 -114.5%
Gross Margin 6.91% -42.7%
EBITDA Margin -5.35% -169.0%
Operating Margin -6.21% -182.4%
Net Margin -5.7% -218.1%
ROE -32.28% -150.6%
ROIC -11.5% -126.2%
Debt/Equity 2.09 +24.0%
Interest Coverage -2.71 -136.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 33.7%
✓Trading at only 0.1x book value

✗Weaknesses

✗High debt to equity ratio of 2.1x
✗Weak Piotroski F-Score: 1/9
✗Negative free cash flow
✗Weak momentum: RS Rating 1 (bottom 1%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y53.11%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg53.56%

5Y Avg53.56%

3Y Avg51.22%

Latest-31.71%

Peer Comparison

Industrial Plant Construction

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AGXArgan, Inc.	4.57B	329.66	53.60	52.47%	13.11%	28.57%	3.52%	0.01
AMRCAmeresco, Inc.	1.09B	31.32	29.27	28.76%	3.34%	5.75%		1.63
KBRKBR, Inc.	5.71B	44.98	16.06	11.3%	4.71%	25.87%	6.74%	1.95
FLRFluor Corporation	7B	43.44	3.53	5.43%	25.35%	69.19%	9.48%	0.28
SUNESUNation Energy Inc.	3.61M	1.06	-0.00	-28.59%	-33.82%	-93.5%		2.39
FGLFounder Group Limited Ordinary Shares	2.68M	0.15	-2.18	-38.98%	-5.7%	-32.28%		2.09
MTRXMatrix Service Company	381.37M	13.56	-12.79	5.64%	-2.93%	-17.54%	28.79%	0.15

Profit & Loss

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	25.17M	63.51M	148.05M	90.34M
Revenue Growth %	-	1.52%	1.33%	-0.39%
Cost of Goods Sold+	22.01M	54.83M	130.2M	84.1M
COGS % of Revenue	0.87%	0.86%	0.88%	0.93%
Gross Profit+	3.16M	8.68M	17.85M	6.24M
Gross Margin %	0.13%	0.14%	0.12%	0.07%
Gross Profit Growth %	-	1.75%	1.06%	-0.65%
Operating Expenses+	788.7K	3.42M	6.7M	11.85M
OpEx % of Revenue	0.03%	0.05%	0.05%	0.13%
Selling, General & Admin	788.7K	3.42M	5.51M	7.15M
SG&A % of Revenue	0.03%	0.05%	0.04%	0.08%
Research & Development	0	0	0	0
R&D % of Revenue	-	-	-	-
Other Operating Expenses	0	0	1.18M	4.7M
Operating Income+	2.37M	5.27M	11.15M	-5.61M
Operating Margin %	0.09%	0.08%	0.08%	-0.06%
Operating Income Growth %	-	1.22%	1.12%	-1.5%
EBITDA+	2.73M	5.68M	11.48M	-4.84M
EBITDA Margin %	0.11%	0.09%	0.08%	-0.05%
EBITDA Growth %	-	1.08%	1.02%	-1.42%
D&A (Non-Cash Add-back)	361.16K	415.64K	323.18K	771.98K
EBIT	2.65M	5.52M	11.03M	-3.58M
Net Interest Income+	-5.43K	-328K	-1.19M	-1.99M
Interest Income	435	1.34K	47.26K	102.61K
Interest Expense	5.86K	329.34K	1.5M	2.07M
Other Income/Expense	271.14K	-75.18K	-1.36M	-42.72K
Pretax Income+	2.64M	5.19M	9.79M	-5.65M
Pretax Margin %	0.11%	0.08%	0.07%	-0.06%
Income Tax+	724.88K	1.25M	2.65M	-500.44K
Effective Tax Rate %	0.73%	0.76%	0.73%	0.91%
Net Income+	1.92M	3.94M	7.15M	-5.15M
Net Margin %	0.08%	0.06%	0.05%	-0.06%
Net Income Growth %	-	1.06%	0.81%	-1.72%
Net Income (Continuing)	1.92M	3.94M	7.15M	-5.15M
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	0.02	0.05	0.46	-0.07
EPS Growth %	-	1.65%	7.68%	-1.14%
EPS (Basic)	0.02	0.05	0.46	-0.07
Diluted Shares Outstanding	16.92M	16.92M	16.92M	16.92M
Basic Shares Outstanding	16.92M	16.92M	16.92M	16.92M
Dividend Payout Ratio	-	-	-	-

Balance Sheet

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	9.16M	33.8M	79.26M	84.42M
Cash & Short-Term Investments	1.29M	8.23M	5.6M	13.9M
Cash Only	1.29M	8.23M	5.6M	13.9M
Short-Term Investments	0	0	0	0
Accounts Receivable	7.18M	22.37M	68.25M	54.76M
Days Sales Outstanding	104.12	128.57	168.26	221.24
Inventory	624.79K	1.59M	1.86M	3.05M
Days Inventory Outstanding	10.36	10.57	5.23	13.23
Other Current Assets	0	0	0	0
Total Non-Current Assets+	806.37K	552.6K	4.62M	29.87M
Property, Plant & Equipment	806.37K	552.6K	1.88M	27.32M
Fixed Asset Turnover	31.22x	114.93x	78.95x	3.31x
Goodwill	0	0	0	0
Intangible Assets	0	0	0	0
Long-Term Investments	0	0	0	0
Other Non-Current Assets	0	0	2.67M	2.48M
Total Assets+	9.97M	34.36M	83.87M	114.29M
Asset Turnover	2.53x	1.85x	1.77x	0.79x
Asset Growth %	-	2.45%	1.44%	0.36%
Total Current Liabilities+	6.05M	26.59M	68.2M	94.6M
Accounts Payable	5.19M	18.59M	38.42M	27.4M
Days Payables Outstanding	86.03	123.77	107.7	118.9
Short-Term Debt	0	4.38M	23.9M	32.94M
Deferred Revenue (Current)	206.46K	842.74K	134.19K	818.93K
Other Current Liabilities	5.41K	131.85K	349.04K	683.06K
Current Ratio	1.51x	1.27x	1.16x	0.89x
Quick Ratio	1.41x	1.21x	1.13x	0.86x
Cash Conversion Cycle	28.46	15.36	65.78	115.58
Total Non-Current Liabilities+	221.96K	125.52K	885.07K	2.57M
Long-Term Debt	0	0	811.24K	1.93M
Capital Lease Obligations	146.64K	50.2K	73.83K	642.68K
Deferred Tax Liabilities	75.31K	75.31K	0	0
Other Non-Current Liabilities	0	0	0	0
Total Liabilities	6.27M	26.72M	69.08M	97.17M
Total Debt+	238.01K	4.53M	24.92M	35.79M
Net Debt	-1.05M	-3.7M	19.32M	21.89M
Debt / Equity	0.06x	0.59x	1.69x	2.09x
Debt / EBITDA	0.09x	0.80x	2.17x	-
Net Debt / EBITDA	-0.38x	-0.65x	1.68x	-
Interest Coverage	404.67x	15.99x	7.43x	-2.71x
Total Equity+	3.69M	7.64M	14.79M	17.12M
Equity Growth %	-	1.07%	0.94%	0.16%
Book Value per Share	0.22	0.45	0.87	1.01
Total Shareholders' Equity	3.69M	7.64M	14.79M	17.12M
Common Stock	69.28K	69.28K	69.28K	7.43M
Retained Earnings	1.92M	5.86M	13.01M	7.86M
Treasury Stock	0	0	0	0
Accumulated OCI	1.7M	1.71M	1.71M	1.84M
Minority Interest	0	0	0	0

Cash Flow

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	5.54M	-2.53M	-17.45M	-6.13M
Operating CF Margin %	0.22%	-0.04%	-0.12%	-0.07%
Operating CF Growth %	-	-1.46%	-5.9%	0.65%
Net Income	1.92M	3.94M	7.15M	-5.65M
Depreciation & Amortization	361.16K	415.64K	323.18K	771.98K
Stock-Based Compensation	0	0	0	0
Deferred Taxes	75.31K	0	0	0
Other Non-Cash Items	1.95M	233.15K	837.98K	2.87M
Working Capital Changes	1.24M	-7.12M	-25.76M	-4.12M
Change in Receivables	-3.65M	-20.43M	-46.98M	1.56M
Change in Inventory	-624.79K	-963.15K	-276K	-1.19M
Change in Payables	5.19M	13.43M	19.86M	-11.02M
Cash from Investing+	-887.59K	-937.66K	-4.29M	-5.38M
Capital Expenditures	-887.59K	-161.87K	-1.46M	-1.26M
CapEx % of Revenue	0.04%	0%	0.01%	0.01%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	0	-775.79K	-2.83M	-4.12M
Cash from Financing+	-3.24M	9.52M	16.25M	13.92M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	0	0
Share Repurchases	-	-	-	-
Other Financing	-3.26M	5.24M	-2.75M	-1.85M
Net Change in Cash	-	-	-	-
Free Cash Flow+	4.65M	-2.69M	-18.91M	-7.39M
FCF Margin %	0.18%	-0.04%	-0.13%	-0.08%
FCF Growth %	-	-1.58%	-6.03%	0.61%
FCF per Share	0.28	-0.16	-1.12	-0.44
FCF Conversion (FCF/Net Income)	2.89x	-0.64x	-2.44x	1.19x
Interest Paid	0	0	0	0
Taxes Paid	0	0	0	0

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	51.95%	69.6%	63.73%	-32.28%
Return on Invested Capital (ROIC)	67.37%	120.13%	43.97%	-11.5%
Gross Margin	12.56%	13.67%	12.06%	6.91%
Net Margin	7.62%	6.21%	4.83%	-5.7%
Debt / Equity	0.06x	0.59x	1.69x	2.09x
Interest Coverage	404.67x	15.99x	7.43x	-2.71x
FCF Conversion	2.89x	-0.64x	-2.44x	1.19x
Revenue Growth	-	152.3%	133.12%	-38.98%

Frequently Asked Questions

Growth & Financials

Founder Group Limited Ordinary Shares (FGL) reported $90.3M in revenue for fiscal year 2024. This represents a 259% increase from $25.2M in 2021.

Founder Group Limited Ordinary Shares (FGL) saw revenue decline by 39.0% over the past year.

Founder Group Limited Ordinary Shares (FGL) reported a net loss of $5.2M for fiscal year 2024.

Dividend & Returns

Founder Group Limited Ordinary Shares (FGL) has a return on equity (ROE) of -32.3%. Negative ROE indicates the company is unprofitable.

Founder Group Limited Ordinary Shares (FGL) had negative free cash flow of $7.4M in fiscal year 2024, likely due to heavy capital investments.

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