First Foods Group Inc Financials

FIFG

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2023 Currency USD FYE December

This page shows First Foods Group Inc (FIFG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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 FIFG FY2022 2026-04-22

Tiny revenue relative to swelling obligations leaves the business funded by creditors and financing, not by operating scale.

From FY2020 to FY2022, revenue shrank from $208K to $85K while total liabilities rose from $3.4M to $4.9M, so the balance sheet weakened even as the operating base got smaller. Negative equity deepened from -$2.6M to -$4.8M, which suggests the central financial task has been covering recurring shortfalls rather than compounding a growing sales engine.

The sharp drop in gross margin from 93.6% in FY2019 to 35.7% in FY2021, while SG&A still ran at $1.7M against only $363K of revenue, points to losses driven by both weaker unit economics and overhead that never resized to the sales base.

This is a capital-light but cash-hungry setup: FY2021 free cash flow was -$335K even though capital spending was only $1K, so cash burn came from day-to-day operations rather than expansion projects. The liquidity squeeze also intensified, with the current ratio falling from 0.6x in FY2019 to under 0.1x by FY2022 and cash effectively just $1K on hand.

Financial Health Signals

Financial Profile 33/100

Based on FY2022 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 First Foods Group Inc'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

First Foods Group Inc's revenue declined 76.6% year-over-year, from $363K to $85K. This contraction results in a growth score of 0/100.

Leverage

100

First Foods Group Inc carries a low D/E ratio of -0.31, meaning only $-0.31 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

First Foods Group Inc's current ratio of 0.01 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

100

First Foods Group Inc converts 496.5% of revenue into free cash flow ($421K). This strong cash generation earns a score of 100/100.

Piotroski F-Score Weak

2/9

First Foods Group Inc passes 2 of 9 financial strength tests. All 1 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Key Financial Metrics

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Earnings & Revenue

Revenue

$85K

YoY-76.6%

5Y CAGR+40.1%

First Foods Group Inc generated $85K in revenue in fiscal year 2022. This represents a decrease of 76.6% from the prior year.

EBITDA

N/A

Net Income

N/A

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$421K

YoY+225.8%

First Foods Group Inc generated $421K in free cash flow in fiscal year 2022, representing cash available after capex. This represents an increase of 225.8% from the prior year.

Cash & Debt

$525

YoY-95.4%

5Y CAGR-67.1%

First Foods Group Inc held $525 in cash against $1.5M in long-term debt as of fiscal year 2022.

Dividends Per Share

N/A

Shares Outstanding

27M

YoY+0.2%

5Y CAGR+9.8%

First Foods Group Inc had 27M shares outstanding in fiscal year 2022. This represents an increase of 0.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

$66K

YoY-25.8%

5Y CAGR-5.5%

First Foods Group Inc invested $66K in research and development in fiscal year 2022. This represents a decrease of 25.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

YoY-100.0%

First Foods Group Inc invested $0 in capex in fiscal year 2022, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

FIFG Income Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Revenue	$85K-76.6%	$363K+74.3%	$208K-36.2%	$326K+30.0%	$251K+1498.4%	$16K
Cost of Revenue	N/A	$233K+565.0%	$35K+67.0%	$21K	N/A	N/A
Gross Profit	N/A	$130K-25.2%	$173K-43.3%	$305K	N/A	N/A
R&D Expenses	$66K-25.8%	$89K+2.3%	$87K+2.4%	$85K-27.4%	$117K+33.6%	$88K
SG&A Expenses	N/A	$1.7M-14.6%	$2.0M-24.6%	$2.6M+32.0%	$2.0M	N/A
Operating Income	N/A	-$1.5M+25.9%	-$2.0M+19.0%	-$2.5M-29.2%	-$1.9M	N/A
Interest Expense	$301K-55.2%	$671K-6.8%	$720K+212.2%	$231K+513.8%	-$56K-789.0%	$8K
Income Tax	$0	$0	$0	$0	N/A	N/A
Net Income	N/A	-$2.5M+9.8%	-$2.7M-0.6%	-$2.7M-38.1%	-$2.0M	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Revenue	$513-46.1%	$952-75.6%	$4K	N/A	$14K-77.8%	$64K+331.7%	$15K+15.4%	$13K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	$38K+1431.4%	$2K-92.2%	$32K
Gross Profit	N/A	N/A	N/A	N/A	N/A	$26K+110.3%	$12K+165.2%	-$19K
R&D Expenses	N/A	N/A	$20K	N/A	N/A	N/A	$16K	N/A
SG&A Expenses	$181K-4.5%	$189K-31.3%	$276K	N/A	$269K-19.8%	$335K-17.1%	$404K+34.2%	$302K
Operating Income	-$183K+4.3%	-$191K+30.1%	-$273K	N/A	-$261K+44.3%	-$467K-18.9%	-$393K+0.2%	-$394K
Interest Expense	$47K+53.5%	$30K-40.4%	$51K	N/A	$52K-41.5%	$90K-17.6%	$109K-19.6%	$135K
Income Tax	$0	$0	$0	N/A	$0	$0	$0	$0
Net Income	-$178K-5.0%	-$170K+34.4%	-$258K	N/A	-$313K-17.9%	-$265K+47.1%	-$502K+21.8%	-$642K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FIFG Balance Sheet

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Total Assets	$54K-89.5%	$512K-39.6%	$848K-15.0%	$998K+46.7%	$680K+106.2%	$330K
Current Assets	$30K-84.7%	$196K-46.6%	$367K-63.3%	$998K	N/A	N/A
Cash & Equivalents	$525-95.4%	$12K-77.1%	$50K+106.9%	$24K-20.0%	$30K-77.7%	$136K
Inventory	$106-99.8%	$57K+23.1%	$46K+338.0%	$11K	N/A	N/A
Accounts Receivable	N/A	N/A	$0-100.0%	$13K	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.9M+22.2%	$4.0M+17.2%	$3.4M+53.9%	$2.2M+83.2%	$1.2M+69.6%	$713K
Current Liabilities	$5.0M+35.0%	$3.7M+27.5%	$2.9M+69.1%	$1.7M+99.8%	$866K+21.6%	$713K
Long-Term Debt	$1.5M+5.6%	$1.4M+13.6%	$1.3M+162.0%	$483K+41.2%	$342K	N/A
Total Equity	-$4.8M-38.6%	-$3.5M-36.0%	-$2.6M-110.4%	-$1.2M-130.2%	-$528K-38.0%	-$383K
Retained Earnings	-$16.8M-9.3%	-$15.3M-18.4%	-$13.0M-25.9%	-$10.3M-34.8%	-$7.6M-34.6%	-$5.7M

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Total Assets	$49K-11.5%	$56K+0.7%	$55K+2.4%	$54K-78.8%	$254K-17.6%	$308K-36.7%	$487K-4.9%	$512K
Current Assets	$25K-20.2%	$32K+1.2%	$31K+4.3%	$30K-76.1%	$125K-10.5%	$140K-29.3%	$198K+1.0%	$196K
Cash & Equivalents	$6K+162.0%	$2K-81.5%	$12K+2127.0%	$525-92.9%	$7K-66.8%	$22K+86.9%	$12K+3.1%	$12K
Inventory	$430.0%	$430.0%	$43-59.4%	$106-99.7%	$33K-2.8%	$34K-43.0%	$59K+3.5%	$57K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$5.5M-3.0%	$5.6M+3.0%	$5.5M+12.2%	$4.9M+4.6%	$4.7M-1.3%	$4.7M+8.4%	$4.4M+9.1%	$4.0M
Current Liabilities	$5.7M+3.1%	$5.5M+3.2%	$5.3M+5.5%	$5.0M+8.0%	$4.7M+3.6%	$4.5M+9.4%	$4.1M+10.3%	$3.7M
Long-Term Debt	$1.5M0.0%	$1.5M+0.1%	$1.5M-0.1%	$1.5M+0.5%	$1.5M-0.2%	$1.5M+2.6%	$1.5M+2.5%	$1.4M
Total Equity	-$5.4M+2.9%	-$5.6M-3.0%	-$5.4M-12.3%	-$4.8M-9.4%	-$4.4M+0.2%	-$4.4M-14.1%	-$3.9M-11.2%	-$3.5M
Retained Earnings	-$17.4M-1.1%	-$17.2M-1.0%	-$17.0M-1.5%	-$16.8M-2.6%	-$16.3M-1.8%	-$16.1M-1.5%	-$15.8M-3.1%	-$15.3M

FIFG Cash Flow Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	$421K+226.2%	-$334K-104.0%	-$164K+83.9%	-$1.0M-55.9%	-$650K-49.6%	-$435K
Capital Expenditures	$0-100.0%	$877	N/A	N/A	N/A	N/A
Free Cash Flow	$421K+225.8%	-$335K	N/A	N/A	N/A	N/A
Investing Cash Flow	$0+100.0%	-$877+99.6%	-$199K	$0	N/A	N/A
Financing Cash Flow	$416K+40.5%	$296K-24.0%	$389K-61.4%	$1.0M+85.1%	$544K-1.6%	$553K
Dividends Paid	N/A	$263K	$0-100.0%	$30K	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	$180K+515.9%	$29K

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Operating Cash Flow	-$27K+75.5%	-$112K-49.3%	-$75K	N/A	-$93K+23.0%	-$120K-2.6%	-$117K+78.4%	-$543K
Capital Expenditures	N/A	N/A	N/A	$0	$0	N/A	N/A	$0
Free Cash Flow	N/A	N/A	N/A	N/A	-$93K	N/A	N/A	-$543K
Investing Cash Flow	N/A	N/A	N/A	$0	$0	N/A	N/A	$0
Financing Cash Flow	$25K-76.9%	$108K+34.9%	$80K-11.0%	$90K+15.5%	$78K-40.4%	$131K+11.1%	$118K+61.3%	$73K
Dividends Paid	$0	$0	N/A	N/A	$0	$0	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FIFG Financial Ratios

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Gross Margin	N/A	35.7%-47.5pp	83.2%-10.4pp	93.6%	N/A	N/A
Operating Margin	N/A	-413.4%+558.8pp	-972.2%-206.8pp	-765.4%+4.5pp	-769.9%	N/A
Net Margin	N/A	-681.8%+636.0pp	-1317.8%-482.4pp	-835.4%-49.4pp	-786.0%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-483.0%-159.6pp	-323.4%-50.3pp	-273.1%+17.1pp	-290.1%	N/A
Current Ratio	0.01-0.0	0.05-0.1	0.13-0.5	0.58	N/A	N/A
Debt-to-Equity	-0.31+0.1	-0.41+0.1	-0.49-0.1	-0.40+0.3	-0.65+1.2	-1.86
FCF Margin	496.5%+588.8pp	-92.2%	N/A	N/A	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	40.6%-42.7pp	83.2%+230.5pp	-147.2%
Operating Margin	-35638.2%-15563.7pp	-20074.5%-13059.5pp	-7015.0%	N/A	-1836.6%-1105.2pp	-731.4%+1922.9pp	-2654.3%+416.4pp	-3070.7%
Net Margin	-34705.1%-16898.2pp	-17806.8%-11176.3pp	-6630.5%	N/A	-2205.9%-1790.5pp	-415.4%+2972.8pp	-3388.2%+1614.3pp	-5002.6%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-361.8%-56.9pp	-304.9%+163.0pp	-468.0%	N/A	-123.2%-37.1pp	-86.1%+16.9pp	-103.0%+22.3pp	-125.3%
Current Ratio	0.000.0	0.010.0	0.010.0	0.01-0.0	0.030.0	0.03-0.0	0.050.0	0.05
Debt-to-Equity	-0.280.0	-0.270.0	-0.28+0.0	-0.31+0.0	-0.340.0	-0.34+0.0	-0.38+0.0	-0.41
FCF Margin	N/A	N/A	N/A	N/A	-652.7%	N/A	N/A	-4230.2%

Note: Shareholder equity is negative (-$4.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.01), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is First Foods Group Inc's annual revenue?

First Foods Group Inc (FIFG) reported $85K in total revenue for fiscal year 2022. This represents a -76.6% 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 First Foods Group Inc's revenue growing?

First Foods Group Inc (FIFG) revenue declined by 76.6% year-over-year, from $363K to $85K in fiscal year 2022.

How much debt does First Foods Group Inc have?

As of fiscal year 2022, First Foods Group Inc (FIFG) had $525 in cash and equivalents against $1.5M in long-term debt.

What is First Foods Group Inc's free cash flow?

First Foods Group Inc (FIFG) generated $421K in free cash flow during fiscal year 2022. This represents a 225.8% 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 First Foods Group Inc's operating cash flow?

First Foods Group Inc (FIFG) generated $421K in operating cash flow during fiscal year 2022, representing cash generated from core business activities.

What are First Foods Group Inc's total assets?

First Foods Group Inc (FIFG) had $54K in total assets as of fiscal year 2022, including both current and long-term assets.

What are First Foods Group Inc's capital expenditures?

First Foods Group Inc (FIFG) invested $0 in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.

How much does First Foods Group Inc spend on research and development?

First Foods Group Inc (FIFG) invested $66K in research and development during fiscal year 2022.

How many shares does First Foods Group Inc have outstanding?

First Foods Group Inc (FIFG) had 27M shares outstanding as of fiscal year 2022.

What is First Foods Group Inc's current ratio?

First Foods Group Inc (FIFG) had a current ratio of 0.01 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.

What is First Foods Group Inc's debt-to-equity ratio?

First Foods Group Inc (FIFG) had a debt-to-equity ratio of -0.31 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.

Why is First Foods Group Inc's debt-to-equity ratio negative or unusual?

First Foods Group Inc (FIFG) has negative shareholder equity of -$4.8M as of fiscal year 2022, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is First Foods Group Inc's Piotroski F-Score?

First Foods Group Inc (FIFG) has a Piotroski F-Score of 2 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.

How financially healthy is First Foods Group Inc?

First Foods Group Inc (FIFG) scores 33 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.