FST Corp. (KBSX) AI Stock Analysis
KBSX AI stock analysis summary
AI ResearchFST Corp. (KBSX) develops and manufactures golf shafts and sports equipment under the KBS brand. Trailing twelve month revenue reached $53.0M with a profit margin of 9.6%, recovering from net losses in FY2023 through FY2025. The company carries $37.0M in total debt against $8.2M in cash, resulting in a current ratio of 0.94.
- Market cap
- $59.5M
- Revenue (TTM)
- $53.0M
- P/E
- 11.1x fwd 12.5x
- 1Y return
- -9.0% S&P 500 16.8%
- Avg. target
- $3.50 163.4% vs last close
Bull case
- Trailing twelve month revenue rose to $53.0M with year-over-year quarterly revenue growth of 9.7%.
- Profitability turned positive over the trailing twelve months, generating $0.12 in EPS and a 35.6% return on equity.
- The consensus analyst price target of $3.50 stands 163.4% above the last close of $1.33.
Bear case
- Operating cash flow and free cash flow remained negative in FY2025 at -$1.0M and -$1.6M, respectively.
- Balance sheet leverage is elevated with total debt of $37.0M, a debt-to-equity ratio of 2.34, and a current ratio of 0.94.
- The enterprise value-to-EBITDA multiple of 35.0x trades at a substantial premium to the peer median of 11.1x.
What FST does
FST Corp. develops, produces, and sells golf shafts and other sports equipment under the KBS brand in Taiwan and internationally. Its product lineup covers shafts for irons, including the KBS TOUR, KBS TOUR LITE, KBS TOUR-V, KBS 560 and 580 series for juniors, KBS MAX 80, and KBS Tour $-Taper series. It also manufactures specialized wedge shafts like the KBS Wedge, KBS Tour 610 Wedge, KBS TOUR-V Wedge, and KBS HI-REV 2.0. Additionally, the company provides putter shafts such as the KBS Tour One Step Putter, KBS CT Tour Putter, and KBS GPS Graphite, alongside various graphite options for hybrids, irons, and drivers.
Growth and profitability
FST Corp. generated $48.0M in revenue in FY2025, representing 31.4% growth over FY2024 revenue of $36.5M. The business posted negative operating margins over the last three fiscal years, recording -10.9% in FY2023, -10.0% in FY2024, and -4.9% in FY2025. Net income stood at -$1.5M in FY2025, an improvement from -$3.2M in FY2024. For the trailing twelve months ended June 30, 2026, revenue totaled $53.0M, operating margin rose to 2.1%, and profit margin reached 9.6% with diluted earnings per share of $0.12. In the latest quarter, quarterly revenue grew 9.7% year-over-year.
Balance sheet and cash flow
As of June 30, 2026, FST Corp. held $8.2M in cash and short-term investments compared to $37.0M in total debt, yielding net debt of $28.8M. Liquidity shows a current ratio of 0.94, and debt-to-equity is 2.34 based on $15.8M in shareholders' equity. Operating cash flow remained negative in FY2025 at -$1.0M, leading to free cash flow of -$1.6M. Capital expenditures used $602,956 in FY2025, while share buybacks totaled $38,754.
Valuation and performance
At a closing price of $1.33 on October 16, 2026, FST Corp. had a market capitalization of $59.5M and an enterprise value of $90.4M. The stock trades at a trailing price-to-earnings ratio of 11.1x and a forward price-to-earnings ratio of 12.5x, below the median of its US-listed Consumer Cyclical peers of 18.0x trailing and 14.1x forward. However, its enterprise value-to-EBITDA ratio of 35.0x exceeds the peer median of 11.1x. Over the past year, KBSX returned -9.0%, underperforming the S&P 500 return of 16.8%.
What analysts expect
Wall Street coverage includes 1 Strong Buy rating, with 0 Buy, 0 Hold, and 0 Sell ratings. The mean price target is $3.50, representing an upside of 163.4% from the last close of $1.33. For the fiscal year ending December 31, 2026, analysts estimate EPS of $0.06 on revenue of $57.1M. For the next fiscal year, two analysts project EPS of $0.11 and revenue of $64.9M, representing 13.8% revenue growth. Over the last 4 quarters, the company recorded 0 EPS beats. The next earnings date is November 17, 2026.
Key risks and what to watch
- A current ratio of 0.94 indicates short-term obligations exceed liquid assets.
- Annual operating margins were negative for three consecutive fiscal years, including -4.9% in FY2025.
- The company registered 0 EPS beats over the trailing four quarters, showing inconsistency relative to expectations.
- Share price performance lagged the broader market with a 1-year return of -9.0% compared to 16.8% for the S&P 500.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this KBSX AI stock analysis
This page is an AI-written research summary of FST Corp. (KBSX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: KBSX income statement, KBSX balance sheet, KBSX key metrics, KBSX analyst forecast, KBSX chart. See the KBSX stock overview for the latest quote and news.
KBSX AI stock analysis FAQ
What does FST Corp. do?
FST Corp. designs, manufactures, and markets golf shafts and other sports equipment under the KBS brand, serving customers in Taiwan and internationally across irons, wedges, putters, and woods.
Does FST Corp. pay a dividend?
FST Corp. does not pay a dividend.
What is FST Corp.'s debt situation?
As of June 30, 2026, the company held $8.2M in cash and short-term investments alongside $37.0M in total debt, resulting in net debt of $28.8M and a debt-to-equity ratio of 2.34.
What are analysts forecasting for FST Corp.?
Analysts project revenue of $57.1M and EPS of $0.06 for FY2026, followed by $64.9M in revenue and $0.11 in EPS for the following fiscal year. The single recorded analyst rating is a Strong Buy with a price target of $3.50.