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
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,4733,6357,8586,9122,470
Cash and cash equivalents3,4733,6357,8586,9122,470
Receivables5,8904,4704,4232,1053,008
Inventory, net of allowances, customer advances and progress billings8,3729,1838,7284,6873,786
Inventory8,3729,1838,7284,6873,786
Prepaid expense302219200255229
Deposits current assets1,000    
Total current assets:19,03817,50621,20913,9609,493
Noncurrent Assets
Operating lease, right-of-use asset483789
Property, plant and equipment5,1424,0062,5631,9393,394
Long-term investments and receivables4,7761,91677613122
Long-term investments4,7761,91677613122
Intangible assets, net (including goodwill)5,3105,4865,6627996
Goodwill2,5342,5342,534  
Intangible assets, net (excluding goodwill)2,7762,9523,1287996
Deposits noncurrent assets931311926
Restricted cash and investments 1,000   
Deferred income tax assets3001,600
Other undisclosed noncurrent assets30479551,7642,027
Total noncurrent assets:16,05014,8749,9873,8145,665
TOTAL ASSETS:35,08732,38031,19617,77315,158
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:4,3242,5881,051939902
Accounts payable558636   
Accrued liabilities1,226181   
Taxes payable2,5401,7701,3571,102894
Other undisclosed accounts payable and accrued liabilities  (307)(162)8
Deferred revenue314213
Debt849406 201553
Deferred revenue and credits20995
Other undisclosed current liabilities2,4043,5875,0541,352792
Total current liabilities:7,8916,7936,1052,7012,342
Noncurrent Liabilities
Long-term debt and lease obligation3,1943,5673,580151352
Long-term debt, excluding current maturities2,9993,1843,580151352
Operating lease, liability195384
Liabilities, other than long-term debt2341,059   
Deferred income tax liabilities2341,059
Other undisclosed noncurrent liabilities 5001,990  
Total noncurrent liabilities:3,4285,1265,570151352
Total liabilities:11,31911,91911,6752,8512,694
Stockholders' equity
Stockholders' equity attributable to parent21,20717,91117,05914,92212,464
Common stock1212121211
Additional paid in capital16,63316,43715,32815,11514,843
Accumulated other comprehensive loss(872)(995)(1,223)(656)(1,087)
Retained earnings (accumulated deficit)5,4332,4562,942452(1,303)
Stockholders' equity attributable to noncontrolling interest2,5622,5502,462  
Total stockholders' equity:23,76820,46119,52214,92212,464
TOTAL LIABILITIES AND EQUITY:35,08732,38031,19617,77315,158

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues31,40727,44017,83015,49416,246
Revenue, net15,49416,246
Cost of revenue
(Cost of Goods and Services Sold)
(21,641)(18,820)(12,193)(9,509)(9,257)
Gross profit:9,7668,6215,6375,9856,989
Operating expenses(5,649)(6,713)(4,330)(4,474)(3,904)
Operating income:4,1181,9081,3071,5113,085
Nonoperating income (expense)93040534(83)(2)
Investment income, nonoperating93040534(83)(13)
Foreign currency transaction gain, before tax    11
Interest and debt expense(261)(428)(94)(1)(42)
Other undisclosed income from continuing operations before equity method investments, income taxes   1,38038
Income from continuing operations before equity method investments, income taxes:4,7871,8841,2472,8073,079
Other undisclosed income from continuing operations before income taxes4034311,808  
Income from continuing operations before income taxes:5,1912,3153,0552,8073,079
Income tax expense(1,607)(620)(533)(680)(982)
Income before gain (loss) on sale of properties:3,5841,6952,5222,1272,097
Other undisclosed net income (loss) 602(100)(372)(304)
Net income:3,5842,2972,4221,7551,793
Net income (loss) attributable to noncontrolling interest(606)(385)69  
Net income available to common stockholders, diluted:2,9771,9122,4901,7551,793

Comprehensive Income ($ in thousands)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:3,5842,2972,4221,7551,793
Other comprehensive income (loss)  (1,855)431119
Other undisclosed comprehensive income122228   
Comprehensive income:3,7062,5255662,1861,912
Comprehensive loss, net of tax, attributable to noncontrolling interest(606)(385)(1,924)  
Comprehensive income (loss), net of tax, attributable to parent:3,1002,140(1,357)2,1861,912

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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