Flexible Solutions International, Inc. (FSI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-83.8%

$1.01

vs $6.20 price

Levered DCF

$0.40

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

3.9

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	108.2×	15.04×	8.68×	5.44×	13.89×	10.38×	16.06×	6.43×
P/B	2.19×	1.18×	0.67×	1.18×	1.91×	1.44×	1.71×	0.92×
P/S	2.21×	1.18×	0.62×	0.84×	1.39×	0.97×	1.12×	0.88×
EV / EBITDA	15.28×	6.4×	4.91×	4.37×	5.83×	5.04×	9.59×	4.58×
Gross margin	22.6%	34.6%	27.0%	30.3%	33.1%	31.1%	31.4%	31.6%
Operating margin	9.3%	14.4%	7.8%	15.4%	15.9%	13.1%	7.0%	7.3%
Net margin	2.0%	7.9%	7.2%	15.3%	10.0%	9.5%	7.0%	14.0%
Current ratio	3.06×	2.91×	3.01×	3.01×	2.42×	2.41×	2.58×	3.47×
Debt / equity	0.28×	0.28×	0.29×	0.28×	0.19×	0.3×	0.45×	0.48×
Interest coverage	5.82×	9.04×	6.02×	24.07×	27.43×	15.8×	4.45×	13.96×
Dividend yield	1.5%	2.8%	2.6%	0.0%	0.0%	0.0%	7.8%	0.0%
Payout ratio	162.0%	41.3%	22.6%	0.0%	0.0%	0.0%	125.4%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.0%	8.0%	7.9%	21.5%	13.7%	14.0%	10.7%	14.6%
Return on invested capital	4.8%	8.7%	6.2%	15.4%	10.8%	9.3%	6.4%	3.6%
Return on assets	1.3%	5.1%	5.0%	13.6%	8.7%	8.5%	5.9%	8.0%
Free cash flow yield	-0.7%	1.3%	8.4%	-1.3%	7.8%	15.2%	1.8%	-14.9%
Earnings yield	0.9%	6.8%	11.7%	18.3%	7.2%	9.8%	6.2%	15.9%
Enterprise value	$89.3M	$48.1M	$28.8M	$41.4M	$47.1M	$33.5M	$35.1M	$16M
Net debt / EBITDA	0.72×	0.42×	0.86×	0.32×	-0.1×	0.45×	1.21×	0.08×
Cash conversion cycle (days)	221	241	213	230	206	200	225	326