FST Corp.(KBSX)Earnings, Financials & Key Ratios
KBSX•NASDAQ
$1.26
$9M mkt cap·Price updated May 6, 2026
AboutFST Corp. designs, manufactures, markets, and distributes steel golf shafts to golf club original equipment manufacturers and distributors worldwide. The company offers steel shafts under the KBS brand name. FST Corp.is based in Chiayi, Taiwan.Show more
- Revenue$37M+27.0%
- EBITDA-$2M-31.3%
- Net Income-$3M-49.2%
- EPS (Diluted)-0.47-902.1%
- Gross Margin43.05%-8.0%
- EBITDA Margin-4.69%-3.3%
- Operating Margin-9.99%+8.1%
- Net Margin-8.86%-17.5%
- ROE-12.83%-77.1%
- ROIC-8.06%+4.3%
- Debt/Equity0.67+14.7%
- Interest Coverage-6.71+96.8%
KBSX Key Insights
FST Corp. (KBSX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Share count reduced 84.6% through buybacks
- ✓Trading at only 0.4x book value
✗Weaknesses
- ✗Weak 3Y average ROE of 4.2%
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Thin 5Y average net margin of 1.0%
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
KBSX Price & Volume
FST Corp. (KBSX) stock price & volume — 10-year historical chart
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KBSX Growth Metrics
FST Corp. (KBSX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-2.13%
TTM25.17%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-436.06%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-202.23%
Return on Capital
10 Years5.26%
5 Years5.26%
3 Years3.87%
Last Year-9.3%
KBSX Peer Comparison
FST Corp. (KBSX) competitors in Specialty and Alloy Steel Producers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FFIN | 4.64B | 32.60 | 20.90 | 18.79% | 13.25% | 0.12 | ||
 TCBK | 1.63B | 50.80 | 13.69 | 1.78% | 9.43% | 0.06 | ||
 CVBF | 2.8B | 20.63 | 13.57 | -2.33% | 9.25% | 0.43 | ||
 BANR | 2.24B | 66.23 | 11.74 | -0.95% | 10.34% | 0.19 | ||
 WAFD | 2.72B | 35.64 | 13.55 | -1.58% | 8.02% | 0.60 | ||
 BOKF | 10.44B | 135.54 | 16.65 | 10.4% | 8.91% | 0.80 | ||
 IBCP | 696.01M | 33.81 | 10.34 | -0.3% | 14.2% | 0.23 | ||
 NBTB | 2.36B | 45.20 | 13.57 | 10.36% | 9.51% | 0.17 |
Compare KBSX vs Peers
FST Corp. (KBSX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
KBSX Income Statement
FST Corp. (KBSX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Sales/Revenue | 27.63M | 38.94M | 49.78M | 28.73M | 36.5M | 44.08M |
| Revenue Growth % | - | 40.94% | 27.83% | -42.28% | 27.04% | 25.17% |
| Cost of Goods Sold | 14.9M | 22.14M | 23.21M | 15.29M | 20.79M | 24.96M |
| COGS % of Revenue | 53.91% | 56.85% | 46.62% | 53.21% | 56.95% | - |
| Gross Profit | 12.73M▲ 0% | 16.8M▲ 32.0% | 26.57M▲ 58.1% | 13.44M▼ 49.4% | 15.71M▲ 16.9% | 19.12M▲ 0% |
| Gross Margin % | 46.08% | 43.15% | 53.38% | 46.79% | 43.05% | 43.38% |
| Gross Profit Growth % | - | 31.98% | 58.12% | -49.41% | 16.89% | - |
| Operating Expenses | 11.38M | 13.66M | 16.27M | 16.56M | 19.36M | 23.1M |
| OpEx % of Revenue | 41.18% | 35.07% | 32.68% | 57.65% | 53.04% | - |
| Selling, General & Admin | 10.07M | 90.53K | 14.76M | 15.03M | 18.06M | 21.74M |
| SG&A % of Revenue | 36.44% | 0.23% | 29.66% | 52.32% | 49.48% | - |
| Research & Development | 1.31M | 1.52M | 1.51M | 1.53M | 1.3M | 1.36M |
| R&D % of Revenue | 4.74% | 3.91% | 3.03% | 5.33% | 3.55% | - |
| Other Operating Expenses | 0 | 12.04M | 0 | 0 | 9 | 0 |
| Operating Income | 1.35M▲ 0% | 3.15M▲ 132.4% | 10.3M▲ 227.1% | -3.12M▼ 130.3% | -3.64M▼ 16.8% | -4.64M▲ 0% |
| Operating Margin % | 4.9% | 8.09% | 20.7% | -10.86% | -9.99% | -10.52% |
| Operating Income Growth % | - | 132.42% | 227.12% | -130.29% | -16.81% | - |
| EBITDA | 2.38M | 4.26M | 13.85M | -1.3M | -1.71M | -4.42M |
| EBITDA Margin % | 8.63% | 10.95% | 27.81% | -4.54% | -4.69% | -10.03% |
| EBITDA Growth % | - | 78.8% | 224.69% | -109.42% | -31.29% | -12.08% |
| D&A (Non-Cash Add-back) | 1.03M | 1.11M | 3.54M | 1.82M | 1.93M | 966.04K |
| EBIT | 1.35M | -90.53K | 12.52M | -3.12M | -3.64M | -5.39M |
| Net Interest Income | -236K | 0 | -52.7K | -14.7K | -543.33K | -295.29K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 338.99K |
| Interest Expense | 236K | 0 | 52.7K | 14.7K | 543.33K | 634.28K |
| Other Income/Expense | -262K | -2.18M | 2.17M | 201.23K | 865.64K | -3.78M |
| Pretax Income | 1.09M▲ 0% | 973.24K▼ 11.0% | 12.47M▲ 1181.3% | -2.92M▼ 123.4% | -2.78M▲ 4.8% | -7.75M▲ 0% |
| Pretax Margin % | 3.96% | 2.5% | 25.05% | -10.16% | -7.61% | -17.59% |
| Income Tax | 251.09K | 1.06M | 3.1M | -751K | 456.25K | 444.57K |
| Effective Tax Rate % | 22.97% | 109.3% | 24.82% | 25.73% | -16.42% | -5.73% |
| Net Income | 841.91K▲ 0% | -90.53K▼ 110.8% | 9.38M▲ 10456.2% | -2.17M▼ 123.1% | -3.24M▼ 49.2% | -9.41M▲ 0% |
| Net Margin % | 3.05% | -0.23% | 18.84% | -7.55% | -8.86% | -21.35% |
| Net Income Growth % | - | -110.75% | 10456.22% | -123.12% | -49.22% | -436.06% |
| Net Income (Continuing) | 841.91K | -90.53K | 9.38M | -2.17M | -3.23M | -8.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 164.32K | 147.27K |
| EPS (Diluted) | 0.02▲ 0% | 0.04▲ 177.1% | 0.21▲ 395.3% | -0.05▼ 122.3% | -0.47▼ 902.1% | -0.21▲ 0% |
| EPS Growth % | - | 177.12% | 395.28% | -122.33% | -902.13% | -202.23% |
| EPS (Basic) | 0.02 | 0.04 | 0.21 | -0.05 | -0.47 | - |
| Diluted Shares Outstanding | 54.52M | 54.58M | 44.77M | 46.21M | 7.12M | 44.77M |
| Basic Shares Outstanding | 54.95M | 54.64M | 44.77M | 46.21M | 7.12M | 44.77M |
| Dividend Payout Ratio | - | - | 3% | - | - | - |
KBSX Balance Sheet
FST Corp. (KBSX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Total Current Assets | 20.23M | 23.34M | 36.7M | 31.04M | 26.66M | 29.44M |
| Cash & Short-Term Investments | 7.01M | 10.55M | 20.74M | 8.9M | 5.16M | 7.97M |
| Cash Only | 4.17M | 5.61M | 20.74M | 8.9M | 5.1M | 7.97M |
| Short-Term Investments | 2.84M | 4.94M | 0 | 0 | 60.99K | 0 |
| Accounts Receivable | 5.29M | 5.38M | 6.61M | 4.98M | 5.77M | 6.61M |
| Days Sales Outstanding | 69.89 | 50.43 | 48.49 | 63.29 | 57.65 | 51.86 |
| Inventory | 7.56M | 6.5M | 8.65M | 15.21M | 14.53M | 13.22M |
| Days Inventory Outstanding | 185.32 | 107.21 | 136.08 | 363.03 | 255.16 | 200.7 |
| Other Current Assets | 260.06K | 380.65K | 132.93K | 510.64K | 306.97K | 1.64M |
| Total Non-Current Assets | 19.79M | 23.25M | 23.28M | 32.27M | 31.93M | 31.57M |
| Property, Plant & Equipment | 11.4M | 14.31M | 15.49M | 25.18M | 24.94M | 24.37M |
| Fixed Asset Turnover | 2.42x | 2.72x | 3.21x | 1.14x | 1.46x | 1.75x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 6.12M | 5.71M | 5.64M | 5.33M | 5.14M | 4.93M |
| Long-Term Investments | 873.78K | 804.63K | 667.53K | 195.56K | 344.88K | 1.78M |
| Other Non-Current Assets | 1.4M | 2.42M | 599.22K | 547.01K | 1.01M | 6M |
| Total Assets | 40.02M▲ 0% | 46.59M▲ 16.4% | 59.98M▲ 28.8% | 63.31M▲ 5.5% | 58.58M▼ 7.5% | 61.01M▲ 0% |
| Asset Turnover | 0.69x | 0.84x | 0.83x | 0.45x | 0.62x | 0.72x |
| Asset Growth % | - | 16.41% | 28.75% | 5.54% | -7.47% | 72.81% |
| Total Current Liabilities | 10.22M | 14.46M | 19.8M | 21.36M | 22.11M | 32.61M |
| Accounts Payable | 893.8K | 1.35M | 1.68M | 1.22M | 1.5M | 4.8M |
| Days Payables Outstanding | 21.9 | 22.27 | 26.47 | 29.04 | 26.36 | 45.93 |
| Short-Term Debt | 4.69M | 7M | 319 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 98.71K | 35.08K | 166.58K | 166.58K |
| Other Current Liabilities | 3.28M | 4.03M | 7.82M | 14.62M | 15.6M | 19.39M |
| Current Ratio | 1.98x | 1.61x | 1.85x | 1.45x | 1.21x | 1.21x |
| Quick Ratio | 1.24x | 1.16x | 1.42x | 0.74x | 0.55x | 0.55x |
| Cash Conversion Cycle | 233.31 | 135.37 | 158.1 | 397.28 | 286.45 | 206.64 |
| Total Non-Current Liabilities | 6.93M | 7.09M | 7.76M | 14.52M | 13.47M | 17.66M |
| Long-Term Debt | 0 | 0 | 1.36M | 8.6M | 9.45M | 13.65M |
| Capital Lease Obligations | 6.42M | 6.58M | 5.82M | 5.26M | 3.91M | 14.2M |
| Deferred Tax Liabilities | 0 | 0 | 580.69K | 663.41K | 111.33K | 360.5K |
| Other Non-Current Liabilities | 519.83K | 517.14K | 0 | 4.82K | 0 | 1.95M |
| Total Liabilities | 17.15M | 21.56M | 27.56M | 35.88M | 35.58M | 50.27M |
| Total Debt | 12.31M | 15.48M | 9.36M | 16.03M | 15.42M | 18.59M |
| Net Debt | 8.14M | 9.87M | -11.38M | 7.12M | 10.32M | 10.62M |
| Debt / Equity | 0.54x | 0.62x | 0.29x | 0.58x | 0.67x | 0.67x |
| Debt / EBITDA | 5.16x | 3.63x | 0.68x | - | - | -4.21x |
| Net Debt / EBITDA | 3.41x | 2.32x | -0.82x | - | - | -2.40x |
| Interest Coverage | 5.74x | - | 195.50x | -212.20x | -6.71x | -8.49x |
| Total Equity | 22.87M▲ 0% | 25.03M▲ 9.4% | 32.42M▲ 29.5% | 27.42M▼ 15.4% | 23M▼ 16.1% | 10.74M▲ 0% |
| Equity Growth % | - | 9.44% | 29.53% | -15.41% | -16.14% | -208.52% |
| Book Value per Share | 0.42 | 0.46 | 0.72 | 0.59 | 3.23 | 0.24 |
| Total Shareholders' Equity | 22.87M | 25.03M | 32.42M | 27.42M | 22.83M | 10.6M |
| Common Stock | 14.9M | 15.13M | 13.99M | 17.95M | 3.77K | 4.48K |
| Retained Earnings | 3.9M | 6.3M | 12.06M | 3.09M | 3.05M | -4.27M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | -38.75K |
| Accumulated OCI | -654.87K | -1.2M | 1.93M | 1.94M | -2.47M | -552.66K |
| Minority Interest | 0 | 0 | 0 | 0 | 164.32K | 147.27K |
KBSX Cash Flow Statement
FST Corp. (KBSX) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Cash from Operations | 4.19M | 7.2M | 12.72M | -11.21M | -1.31M | -1.31M |
| Operating CF Margin % | 15.16% | 18.48% | 25.56% | -39% | -3.6% | - |
| Operating CF Growth % | - | 71.76% | 76.79% | -188.08% | 88.29% | 1277.6% |
| Net Income | 841.91K | 2.32M | 9.38M | -2.24M | -3.32M | -9.41M |
| Depreciation & Amortization | 2.18M | 2.77M | 3.54M | 4.1M | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | -223.02K | -46.31K | 0 | 0 |
| Other Non-Cash Items | 123.2K | 713.27K | -178.48K | 486.2K | 769.04K | 11.11M |
| Working Capital Changes | 1.04M | 1.39M | 202.63K | -13.5M | 1.24M | 764.93K |
| Change in Receivables | -2.18M | -13.02K | -1.51M | 1.73M | -782.83K | 0 |
| Change in Inventory | 1.83M | 1.17M | -2.13M | -6.75M | -445.3K | 0 |
| Change in Payables | 0 | 0 | 412.3K | -466.54K | 332.07K | 0 |
| Cash from Investing | -3.47M | -6.41M | -2.46M | -11.59M | 3.64M | 4M |
| Capital Expenditures | -1.69M | -4.13M | -2.45M | -11.59M | 0 | -1.73M |
| CapEx % of Revenue | 6.12% | 10.6% | 4.93% | 40.32% | 11.34% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | -1.78M | -2.28M | -6.12K | -7.06K | 0 | 1.3M |
| Cash from Financing | -1.39M | 826.01K | 2.3M | 11.3M | -2.33M | -6.49M |
| Debt Issued (Net) | -960.66K | -1.46M | 2.58M | 14.02M | 1.39M | -906.42K |
| Equity Issued (Net) | 0 | 0 | 1000K | -1000K | -1000K | -1.04M |
| Dividends Paid | 0 | 0 | -281.68K | -2.72M | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -95.62M | -4.75M | -4.79M |
| Other Financing | -428.32K | 2.28M | -135.3M | 95.62M | 1.03M | -793.45K |
| Net Change in Cash | -617.19K▲ 0% | 1.44M▲ 332.8% | 10.22M▲ 611.1% | -11.52M▼ 212.7% | -4M▲ 65.2% | 1.15M▲ 0% |
| Free Cash Flow | 2.5M▲ 0% | 3.07M▲ 22.7% | 10.24M▲ 233.7% | -22.8M▼ 322.7% | -1.31M▲ 94.2% | 2.77M▲ 0% |
| FCF Margin % | 9.04% | 7.88% | 20.56% | -79.35% | -3.6% | 6.28% |
| FCF Growth % | - | 22.73% | 233.72% | -322.74% | 94.24% | 125.15% |
| FCF per Share | 0.05 | 0.06 | 0.23 | -0.49 | -0.18 | -0.18 |
| FCF Conversion (FCF/Net Income) | 4.98x | -79.48x | 1.36x | 5.17x | 0.41x | -0.29x |
| Interest Paid | 295.76K | 358.83K | 155.4K | 282.48K | 506.01K | 479.19K |
| Taxes Paid | 0 | 0 | 790.3K | 2.56M | 466.13K | 177.71K |
KBSX Key Ratios
FST Corp. (KBSX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|
| Return on Equity (ROE) | -0.38% | 32.64% | -7.25% | -12.83% | -87.59% |
| Return on Invested Capital (ROIC) | 7.17% | 27.62% | -8.42% | -8.06% | -8.06% |
| Gross Margin | 43.15% | 53.38% | 46.79% | 43.05% | 43.38% |
| Net Margin | -0.23% | 18.84% | -7.55% | -8.86% | -21.35% |
| Debt / Equity | 0.62x | 0.29x | 0.58x | 0.67x | 0.67x |
| Interest Coverage | - | 195.50x | -212.20x | -6.71x | -8.49x |
| FCF Conversion | -79.48x | 1.36x | 5.17x | 0.41x | -0.29x |
| Revenue Growth | 40.94% | 27.83% | -42.28% | 27.04% | 25.17% |
KBSX Frequently Asked Questions
FST Corp. (KBSX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
FST Corp. (KBSX) reported $44.1M in revenue for fiscal year 2024. This represents a 60% increase from $27.6M in 2020.
FST Corp. (KBSX) grew revenue by 27.0% over the past year. This is strong growth.
FST Corp. (KBSX) reported a net loss of $9.4M for fiscal year 2024.
Dividend & Returns
FST Corp. (KBSX) has a return on equity (ROE) of -12.8%. Negative ROE indicates the company is unprofitable.
FST Corp. (KBSX) generated $2.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Explore More KBSX
FST Corp. (KBSX) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
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Dividend History
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Earnings History
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Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
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