Flexible Solutions International Inc. (FSI) financial statements (2021 and earlier)

Company profile

Business Address 2614 QUEENSWOOD DR
VICTORIA B C, BC V8N 1X5
State of Incorp. NV
Fiscal Year End December 31
SIC 289 - Miscellaneous Chemical Products (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,4736,2414,8203,4123,6356,001
Cash and cash equivalents3,4736,2414,8203,4123,6356,001
Receivables5,8905,7875,6047,6724,4704,620
Inventory, net of allowances, customer advances and progress billings8,3726,9427,8968,9039,1838,550
Inventory8,3726,9427,8968,9039,1838,550
Prepaid expense302344244302219357
Deposits current assets1,000     
Total current assets:19,03819,31418,56420,29017,50619,528
Noncurrent Assets
Operating lease, right-of-use asset483563635706789871
Property, plant and equipment5,1424,5074,3453,9864,0063,656
Long-term investments and receivables4,7763,0183,0162,7991,9161,940
Long-term investments4,7763,0183,0162,7991,9161,940
Intangible assets, net (including goodwill)5,3105,3545,3985,4425,4865,530
Goodwill2,5342,5342,5342,5342,5342,534
Intangible assets, net (excluding goodwill)2,7762,8202,8642,9082,9522,996
Deposits noncurrent assets99993131
Restricted cash and investments    1,0001,000
Deferred income tax assets3001,5831,5701,5451,600 
Other undisclosed noncurrent assets3034384247957
Total noncurrent assets:16,05015,06815,01114,53014,87413,985
TOTAL ASSETS:35,08734,38233,57634,82032,38033,513
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,3243,4552,9083,0952,5883,889
Accounts payable558750516966636971
Accrued liabilities1,226334391388181831
Taxes payable2,5402,3712,0011,7411,7702,087
Deferred revenue314265226120213113
Debt849959990 406404
Other undisclosed current liabilities2,4042,0112,0235,1473,5872,463
Total current liabilities:7,8916,6906,1478,3626,7936,868
Noncurrent Liabilities
Long-term debt and lease obligation3,1942,7983,4563,2943,5674,381
Long-term debt, excluding current maturities2,9992,6063,2032,9823,1843,914
Operating lease, liability195192253312384466
Liabilities, other than long-term debt2341,0591,0591,0591,059864
Deferred income tax liabilities2341,0591,0591,0591,059864
Other undisclosed noncurrent liabilities   500500500
Total noncurrent liabilities:3,4283,8574,5144,8535,1265,744
Total liabilities:11,31910,54610,66113,21411,91912,613
Stockholders' equity
Stockholders' equity attributable to parent, including:21,20721,03120,32619,13017,91118,044
Common stock121212121212
Additional paid in capital16,63316,55116,52116,49216,43716,292
Accumulated other comprehensive loss(872)(968)(1,024)(1,094)(995)(1,121)
Retained earnings5,4335,4364,8543,7212,4562,861
Other undisclosed stockholders' equity attributable to parent  (36)(1)  
Stockholders' equity attributable to noncontrolling interest2,5622,8042,5522,4742,5502,856
Other undisclosed stockholders' equity  361  
Total stockholders' equity:23,76823,83622,91421,60520,46120,900
TOTAL LIABILITIES AND EQUITY:35,08734,38233,57634,82032,38033,513

Income statement (P&L) ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
Revenues7,1558,1137,7108,4294,7957,403
Cost of revenue
(Cost of Goods and Services Sold)
(5,275)(5,598)(5,288)(5,480)(3,481)(5,024)
Gross profit:1,8802,5152,4212,9501,3142,379
Operating expenses(1,669)(1,348)(1,249)(1,383)(1,535)(1,560)
Operating income (loss):2111,1681,1731,567(221)819
Nonoperating income (expense)
(Investment Income, Nonoperating)
244135352200(7)96
Interest and debt expense(61)(44)(55)(101)(87)(94)
Income (loss) from continuing operations before equity method investments, income taxes:3941,2581,4701,665(315)821
Other undisclosed income from continuing operations before income taxes19453551018994
Income (loss) from continuing operations before income taxes:5881,3121,5251,767(226)916
Income tax expense (benefit)(543)(370)(260)(435)123(214)
Income (loss) before gain (loss) on sale of properties:459421,2651,332(102)702
Other undisclosed net income  0 476 
Net income:459421,2651,332374702
Net income (loss) attributable to noncontrolling interest(48)(359)(132)(67)143(290)
Net income (loss) available to common stockholders, diluted:(3)5821,1331,265517412

Comprehensive Income ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
Net income:459421,2651,332374702
Other undisclosed comprehensive income (loss)965769(99)127(25)
Comprehensive income:1419981,3341,233501677
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(48)(359)(132)(67)143(290)
Comprehensive income, net of tax, attributable to parent:936391,2021,166644387

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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