Aspen Aerogels vs FGI Industries
Aspen Aerogels is the larger business, with $271m of revenue in fiscal 2025 against $131m for FGI Industries (2.1 times as much). FGI Industries grew faster (-1.0% against -40.1%). FGI Industries kept more of each dollar of sales as profit: a net margin of -4.7% against -143.7%.
| Latest fiscal year | Aspen AerogelsASPN, 2025 | FGI IndustriesFGI, 2025 |
|---|---|---|
| Revenue | $271m | $131m |
| Revenue growth | -40.1% | -1.0% |
| Net income | −$390m | −$6.1m |
| Operating margin | — | -1.8% |
| Net margin | -143.7% | -4.7% |
| Return on equity | -91.6% | -31.1% |
| Free cash flow | −$4.6m | −$212,520 |
| Cash | $157m | $1.9m |
| Total debt | $65.5m | $11.9m |
| Debt to equity | — | 68.7% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 854 | 426 |
| Market value | $413m | $14.9m |
| Price vs our value range | — | — |
| Moat score | 13 (Weak) | 9 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 0 buys, 0 sales |