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FST Corp. develops, produces, and sells golf shafts and other sports equipment under the KBS brand in Taiwan and internationally. The company provides shafts for irons, such as KBS TOUR series that can be fitted into iron golf clubs, pitching wedge, and sand wedge; KBS TOUR LITE series provides tight dispersion, trajectory, additional spin, and longer distance in a lightweight package; KBS TOUR-V series, a steel shaft that features larger outer diameters; KBS 560 and 580 series developed for junior developing players; KBS MAX 80 Series, a lightweight shaft designed for mid-high handicap players; KBS Tour $-Taper series provides shot workability and tight dispersion; and KBS Tour $-Taper Light series, a lightweight tour performance golf club shaft. It offers shafts for wedges including KBS Wedge series for players seeking a similar feel to the KBS TOUR; KBS Tour 610 Wedge series shaft that delivers penetrating ball flight with controlled spin; KBS TOUR-V Wedge shaft to produce shots with a lower-mid trajectory and mid ball spin; and KBS HI-REV 2.0 wedge shaft series for higher ball launch. In addition, the company provides shafts for putters, which include KBS Tour One Step Putter shaft for amplified feel along with reduction in vibrations; KBS CT Tour Putter shaft series designed for company's constant taper technology; and KBS GPS Graphite putter shaft designed as a balance performance shafts. Further, it offers KBS Tour Graphite Hybrid Prototype, KBS Tour Graphite Iron, KBS MAX Graphite, KBS TD Driver/Wood, KBS PGI Players Graphite Iron, and KBS Players Graphite Hybrid PGH; C-TAPER Black Limited Edition, C-TAPER LITE Black Limited Edition steel shafts, TD Driver/Wood Limited Edition graphite shafts, HI-REV 2.0 Wedge Major Green Limited Edition series wedges, and HI-REV 2.0 Wedge Liberty Limited Edition wedges; golf accessories; and operates restaurant and bar. FST Corp. was incorporated in 1976 and is headquartered in Chiayi, Taiwan.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Public disclosures for FST Corp (NASDAQ: KBSX) are sparse and do not provide a clear description of the company's operating business or strategy. Because of the opacity, long-term growth drivers are unclear; investors may find potential upside if the company holds undisclosed assets or executes a corporate plan, but that possibility is speculative and depends on future disclosure and execution.
The principal investment risks are severe information asymmetry, low liquidity, weak corporate governance and regulatory or delisting risk, all of which could materially increase price volatility and investor losses.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -2.23M | -2.78M | -2.92M | 12.47M | 3.38M |
| Minority interest | - | 0.00M | 0.00M | - | - |
| Net income | -1.50M | -3.24M | -2.17M | 9.38M | 2.32M |
| Selling general administrative | 9.19M | 7.53M | 5.84M | 6.21M | 4.87M |
| Selling and marketing expenses | 12.29M | 10.53M | 9.19M | 8.55M | 7.26M |
| Gross profit | 20.63M | 15.71M | 13.44M | 26.57M | 16.80M |
| Reconciled depreciation | - | 4.10M | 4.10M | 3.54M | - |
| Ebit | -2.33M | -3.64M | -3.12M | 10.30M | 3.15M |
| Ebitda | -0.13M | -1.71M | -1.30M | 11.85M | 4.26M |
| Depreciation and amortization | 2.21M | 1.93M | 1.82M | 1.54M | 1.11M |
| Operating income | -2.33M | -3.64M | -3.12M | 10.30M | 3.15M |
| Other operating expenses | 50.30M | 40.14M | 31.85M | 39.48M | 35.79M |
| Interest expense | 0.85M | 0.54M | 0.01M | 0.05M | - |
| Tax provision | - | 0.46M | -0.12M | 3.09M | - |
| Net interest income | - | -0.54M | -0.01M | -0.05M | - |
| Income tax expense | -0.73M | 0.46M | -0.75M | 3.09M | 1.06M |
| Total revenue | 47.97M | 36.50M | 28.73M | 49.78M | 38.94M |
| Total operating expenses | 22.97M | 19.36M | 16.56M | 16.27M | 13.66M |
| Cost of revenue | 27.34M | 20.79M | 15.29M | 23.21M | 22.14M |
| Total other income expense net | 0.10M | 0.87M | 0.20M | 2.17M | 0.23M |
| Net income from continuing ops | - | -3.24M | -2.24M | 9.38M | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 59.82M | 58.47M | 63.31M | 59.98M | 46.59M |
| Intangible assets | 4.83M | 5.14M | 5.33M | 5.64M | 5.71M |
| Other current assets | 1.51M | 1.30M | 1.95M | 0.70M | 0.91M |
| Total liab | 50.31M | 35.47M | 35.88M | 27.56M | 21.56M |
| Total stockholder equity | 9.37M | 22.83M | 27.42M | 32.42M | 25.03M |
| Other current liab | 9.57M | 18.26M | 17.64M | 12.95M | 4.21M |
| Common stock | 0.00M | 0.00M | 17.95M | 13.99M | 15.13M |
| Capital stock | - | 0.00M | 17.95M | 13.99M | - |
| Retained earnings | -4.13M | 3.05M | 3.09M | 12.06M | 6.30M |
| Cash | 7.18M | 5.10M | 8.90M | 20.74M | 5.61M |
| Total current liabilities | 34.65M | 22.11M | 21.36M | 19.80M | 14.46M |
| Current deferred revenue | - | 0.17M | 0.04M | 0.10M | - |
| Net debt | 28.29M | 10.32M | 7.12M | -11.38M | 9.87M |
| Short term debt | 20.53M | 2.06M | 2.17M | 2.17M | 8.90M |
| Short long term debt total | 35.47M | 15.42M | 16.03M | 9.36M | 15.48M |
| Other stockholder equity | 34.78M | 22.25M | 4.44M | 4.44M | 4.80M |
| Total current assets | 27.48M | 26.66M | 31.04M | 36.70M | 23.34M |
| Long term investments | - | 0.34M | 0.20M | 0.67M | - |
| Short term investments | - | 0.06M | 0.00M | 0.02M | 4.94M |
| Net receivables | 6.98M | 5.67M | 4.98M | 6.61M | 5.38M |
| Long term debt | - | 9.45M | 8.60M | 1.36M | - |
| Inventory | 11.81M | 14.53M | 15.21M | 8.65M | 6.50M |
| Accounts payable | 4.56M | 1.50M | 1.22M | 1.68M | 1.35M |
| Accumulated other comprehensive income | -21.28M | -2.47M | 1.94M | 1.93M | -1.20M |
| Non currrent assets other | 2.08M | 1.01M | 0.55M | 0.60M | 2.42M |
| Non current assets total | 32.34M | 31.81M | 32.27M | 23.28M | 23.25M |
| Capital lease obligations | - | 5.97M | 7.43M | 7.99M | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -4.45M | -11.59M | -2.46M | - |
| Total cashflows from investing activities | -0.84M | -4.45M | 94.56M | -132.60M | -6.41M |
| Net borrowings | - | 3.71M | 14.02M | 2.58M | - |
| Total cash from financing activities | 3.35M | 3.71M | -94.91M | 134.85M | 0.83M |
| Net income | -1.50M | -3.24M | 0.43M | 9.83M | 2.32M |
| Change in cash | 2.04M | 5.30M | -1.10M | 1.10M | 1.44M |
| Begin period cash flow | 5.30M | 9.31M | 1.10M | 10.60M | 4.17M |
| End period cash flow | 7.34M | 5.30M | 9.31M | 1.10M | 5.61M |
| Total cash from operating activities | -1.00M | -1.58M | -0.75M | -1.15M | 7.20M |
| Depreciation | 4.48M | 4.10M | 4.10M | 3.54M | 2.77M |
| Other cashflows from investing activities | -0.21M | -0.18M | -0.01M | -0.01M | -2.28M |
| Dividends paid | - | 0.00M | 2.72M | 0.28M | - |
| Change to inventory | 2.53M | -0.45M | -6.75M | -2.13M | 1.17M |
| Change to account receivables | -1.78M | -0.78M | 1.73M | -1.51M | -0.01M |
| Sale purchase of stock | -0.04M | -4.75M | -95.62M | - | - |
| Other cashflows from financing activities | 0.00M | 1.03M | 95.62M | -0.31M | 2.28M |
| Capital expenditures | 0.60M | 4.14M | 0.00M | 0.00M | 4.13M |
| Change in working capital | -2.16M | -3.03M | 1.40M | 0.20M | 1.39M |
| Other non cash items | -0.55M | 0.44M | -2.57M | -11.18M | 0.71M |
| Free cash flow | -1.60M | -5.72M | -0.75M | -1.15M | 3.07M |
Sector: Consumer Cyclical Industry: Leisure
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| KBSX FST Corp. Ordinary Shares |
0.07 5.11% |
1.44 | 8.29 | 8.91 | 0.98 | 2.77 | 1.37 | 28.18 |
| OLCLY Oriental Land Co Ltd ADR |
1.38 6.15% |
23.81 | 41.39 | 43.67 | 0.05 | 4.46 | 6.91 | 20.36 |
| ANPDF ANTA Sports Products Ltd |
- -% |
10.13 | 15.57 | 14.95 | 0.39 | 3.13 | 2.49 | 6.99 |
| ANPDY ANTA Sports Products Ltd ADR |
-0.29 0.11% |
254.50 | 15.60 | 15.06 | 0.38 | 3.15 | 2.49 | 6.99 |
| OLCLF Oriental Land Co. Ltd |
- -% |
20.87 | 37.74 | 39.22 | 0.04 | 4.01 | 6.91 | 20.36 |
FST Corp. develops, produces, and sells golf shafts and other sports equipment under the KBS brand in Taiwan and internationally. The company provides shafts for irons, such as KBS TOUR series that can be fitted into iron golf clubs, pitching wedge, and sand wedge; KBS TOUR LITE series provides tight dispersion, trajectory, additional spin, and longer distance in a lightweight package; KBS TOUR-V series, a steel shaft that features larger outer diameters; KBS 560 and 580 series developed for junior developing players; KBS MAX 80 Series, a lightweight shaft designed for mid-high handicap players; KBS Tour $-Taper series provides shot workability and tight dispersion; and KBS Tour $-Taper Light series, a lightweight tour performance golf club shaft. It offers shafts for wedges including KBS Wedge series for players seeking a similar feel to the KBS TOUR; KBS Tour 610 Wedge series shaft that delivers penetrating ball flight with controlled spin; KBS TOUR-V Wedge shaft to produce shots with a lower-mid trajectory and mid ball spin; and KBS HI-REV 2.0 wedge shaft series for higher ball launch. In addition, the company provides shafts for putters, which include KBS Tour One Step Putter shaft for amplified feel along with reduction in vibrations; KBS CT Tour Putter shaft series designed for company's constant taper technology; and KBS GPS Graphite putter shaft designed as a balance performance shafts. Further, it offers KBS Tour Graphite Hybrid Prototype, KBS Tour Graphite Iron, KBS MAX Graphite, KBS TD Driver/Wood, KBS PGI Players Graphite Iron, and KBS Players Graphite Hybrid PGH; C-TAPER Black Limited Edition, C-TAPER LITE Black Limited Edition steel shafts, TD Driver/Wood Limited Edition graphite shafts, HI-REV 2.0 Wedge Major Green Limited Edition series wedges, and HI-REV 2.0 Wedge Liberty Limited Edition wedges; golf accessories; and operates restaurant and bar. FST Corp. was incorporated in 1976 and is headquartered in Chiayi, Taiwan.
| Name | Title | Year Born |
|---|---|---|
| Mr. David Chuang | CEO & Chairman | 1978 |
| Mr. Cheng-Teng Huang | COO, President and Head of Production & Supply Chains | 1970 |
| Mr. Sebastian Tadla | Chief Financial Officer | 1988 |
| Ms. Hui-Ting Hsu | Accounting Manager | 1981 |
| Ms. Wen-Chi Chao | Executive Vice President of General Administration & Compliance | 1979 |
| Mr. Rob Cheng | President & Head of FST Golf | 1976 |
Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
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