Founder Group Ltd Financials

FGL

Source SEC Filings (10-K/10-Q) Updated Apr 28, 2026 Currency USD FYE April

This page shows Founder Group Ltd (FGL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FGL FY2025 2026-04-28

Rapid balance-sheet expansion was funded externally, while operating cash burn deepened much faster than the reported accounting loss.

In the latest year, the business lost $1.9M but used $10.1M of operating cash, and that gap widened sharply from the prior year, showing that the pressure sat in cash conversion rather than in the income statement alone. With capex at only $203K, the free-cash-flow shortfall looks less like heavy reinvestment and more like cash being absorbed by day-to-day operations.

Assets expanded to $46.7M while cash stayed near $1.1M, so the larger balance sheet did not create a bigger liquidity cushion. A financing inflow of $27.2M, combined with minimal long-term debt, suggests the expansion was carried mainly by outside capital rather than by profits or lender funding.

The current ratio moved above 1.0x even as current liabilities reached $34.8M, which means near-term coverage improved but still rests on a large short-term obligation base. Because inventory slipped and receivables rose only modestly while revenue grew, the business appears working-capital heavy: more activity is being financed through the operating cycle, not through fixed-asset buildout, which fits the very small capex line.

Financial Health Signals

Financial Profile 36/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Founder Group Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

100

Founder Group Ltd's revenue surged 47.2% year-over-year to $29.7M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

Founder Group Ltd carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Founder Group Ltd's current ratio of 1.16 is below the typical benchmark, resulting in a score of 18/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

While Founder Group Ltd generated -$10.1M in operating cash flow, capex of $203K consumed most of it, leaving -$10.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Founder Group Ltd generates a -25.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -30.1% the prior year.

Piotroski F-Score Weak

3/9

Founder Group Ltd passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

5.29x

For every $1 of reported earnings, Founder Group Ltd generates $5.29 in operating cash flow (-$10.1M OCF vs -$1.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$29.7M

YoY+47.2%

Founder Group Ltd generated $29.7M in revenue in fiscal year 2025. This represents an increase of 47.2% from the prior year.

EBITDA

N/A

Net Income

-$1.9M

YoY-66.1%

Founder Group Ltd reported -$1.9M in net income in fiscal year 2025. This represents a decrease of 66.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$10.3M

YoY-524.2%

Founder Group Ltd generated -$10.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 524.2% from the prior year.

Cash & Debt

$1.1M

YoY+10.2%

Founder Group Ltd held $1.1M in cash against $68K in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

29M

YoY+64.4%

Founder Group Ltd had 29M shares outstanding in fiscal year 2025. This represents an increase of 64.4% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-6.4%

YoY-0.7pp

Founder Group Ltd's net profit margin was -6.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.7 percentage points from the prior year.

Return on Equity

-25.7%

YoY+4.4pp

Founder Group Ltd's ROE was -25.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$203K

YoY-27.9%

Founder Group Ltd invested $203K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 27.9% from the prior year.

FGL Income Statement

Metric	FY25	FY24
Revenue	$29.7M+47.2%	$20.2M
Cost of Revenue	N/A	N/A
Gross Profit	N/A	N/A
R&D Expenses	N/A	N/A
SG&A Expenses	N/A	N/A
Operating Income	N/A	N/A
Interest Expense	$10K+85.6%	$5K
Income Tax	$519K+564.1%	-$112K
Net Income	-$1.9M-66.1%	-$1.2M
EPS (Diluted)	N/A	N/A

Metric	Q1'26	Q3'25
Revenue	N/A	N/A
Cost of Revenue	N/A	N/A
Gross Profit	N/A	N/A
R&D Expenses	N/A	N/A
SG&A Expenses	N/A	N/A
Operating Income	N/A	N/A
Interest Expense	N/A	N/A
Income Tax	N/A	N/A
Net Income	N/A	N/A
EPS (Diluted)	N/A	N/A

FGL Balance Sheet

Metric	FY25	FY24
Total Assets	$46.7M+83.0%	$25.5M
Current Assets	$40.2M+113.4%	$18.9M
Cash & Equivalents	$1.1M+10.2%	$1.0M
Inventory	$605K-11.2%	$681K
Accounts Receivable	$5.2M+8.4%	$4.8M
Goodwill	N/A	N/A
Total Liabilities	$39.3M+80.9%	$21.7M
Current Liabilities	$34.8M+64.8%	$21.1M
Long-Term Debt	$68K-35.3%	$105K
Total Equity	$7.5M+94.8%	$3.8M
Retained Earnings	$24K-98.7%	$1.8M

Metric	Q1'26	Q3'25
Total Assets	$29.0M+13.4%	$25.5M
Current Assets	$22.0M+16.6%	$18.9M
Cash & Equivalents	N/A	$1.0M
Inventory	$327K-52.0%	$681K
Accounts Receivable	$5.9M+24.7%	$4.8M
Goodwill	N/A	N/A
Total Liabilities	$24.8M+14.4%	$21.7M
Current Liabilities	$20.4M-3.3%	$21.1M
Long-Term Debt	$78K-26.3%	$105K
Total Equity	$4.1M+7.4%	$3.8M
Retained Earnings	$1.4M-19.8%	$1.8M

FGL Cash Flow Statement

Metric	FY25	FY24
Operating Cash Flow	-$10.1M-638.0%	-$1.4M
Capital Expenditures	$203K-27.9%	$282K
Free Cash Flow	-$10.3M-524.2%	-$1.7M
Investing Cash Flow	-$2.0M-62.4%	-$1.2M
Financing Cash Flow	$27.2M+773.2%	$3.1M
Dividends Paid	N/A	N/A
Share Buybacks	N/A	N/A

Metric	Q1'26	Q3'25
Operating Cash Flow	N/A	N/A
Capital Expenditures	N/A	N/A
Free Cash Flow	N/A	N/A
Investing Cash Flow	N/A	N/A
Financing Cash Flow	N/A	N/A
Dividends Paid	N/A	N/A
Share Buybacks	N/A	N/A

FGL Financial Ratios

Metric	Q1'26	Q3'25
Gross Margin	N/A	N/A
Operating Margin	N/A	N/A
Net Margin	N/A	N/A
Return on Equity	N/A	N/A
Return on Assets	N/A	N/A
Current Ratio	1.08+0.2	0.89
Debt-to-Equity	0.020.0	0.03
FCF Margin	N/A	N/A

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Frequently Asked Questions

What is Founder Group Ltd's annual revenue?

Founder Group Ltd (FGL) reported $29.7M in total revenue for fiscal year 2025. This represents a 47.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Founder Group Ltd's revenue growing?

Founder Group Ltd (FGL) revenue grew by 47.2% year-over-year, from $20.2M to $29.7M in fiscal year 2025.

Is Founder Group Ltd profitable?

No, Founder Group Ltd (FGL) reported a net income of -$1.9M in fiscal year 2025, with a net profit margin of -6.4%.

How much debt does Founder Group Ltd have?

As of fiscal year 2025, Founder Group Ltd (FGL) had $1.1M in cash and equivalents against $68K in long-term debt.

What is Founder Group Ltd's net profit margin?

Founder Group Ltd (FGL) had a net profit margin of -6.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Founder Group Ltd's return on equity (ROE)?

Founder Group Ltd (FGL) has a return on equity of -25.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Founder Group Ltd's free cash flow?

Founder Group Ltd (FGL) generated -$10.3M in free cash flow during fiscal year 2025. This represents a -524.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Founder Group Ltd's operating cash flow?

Founder Group Ltd (FGL) generated -$10.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Founder Group Ltd's total assets?

Founder Group Ltd (FGL) had $46.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Founder Group Ltd's capital expenditures?

Founder Group Ltd (FGL) invested $203K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Founder Group Ltd have outstanding?

Founder Group Ltd (FGL) had 29M shares outstanding as of fiscal year 2025.

What is Founder Group Ltd's current ratio?

Founder Group Ltd (FGL) had a current ratio of 1.16 as of fiscal year 2025, which is considered adequate.

What is Founder Group Ltd's debt-to-equity ratio?

Founder Group Ltd (FGL) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Founder Group Ltd's return on assets (ROA)?

Founder Group Ltd (FGL) had a return on assets of -4.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Founder Group Ltd's cash runway?

Based on fiscal year 2025 data, Founder Group Ltd (FGL) had $1.1M in cash against an annual operating cash burn of $10.1M. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Founder Group Ltd's Piotroski F-Score?

Founder Group Ltd (FGL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Founder Group Ltd's earnings high quality?

Founder Group Ltd (FGL) has an earnings quality ratio of 5.29x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Founder Group Ltd?

Founder Group Ltd (FGL) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.