Flexible Solutions International Inc. (FSI) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,0253,4733,6357,8586,912
Cash and cash equivalents 3,4733,6357,8586,912
Short-term investments1,025    
Receivables7,1295,8904,4704,4232,105
Inventory, net of allowances, customer advances and progress billings9,5028,3729,1838,7284,687
Inventory9,5028,3729,1838,7284,687
Prepaid expense442302219200255
Deposits current assets1,0251,000   
Other undisclosed current assets4,685    
Total current assets:23,80919,03817,50621,20913,960
Noncurrent Assets
Operating lease, right-of-use asset217483789
Property, plant and equipment4,9325,1424,0062,5631,939
Long-term investments and receivables5,4244,7761,91677613
Long-term investments5,4244,7761,91677613
Intangible assets, net (including goodwill)5,1345,3105,4865,66279
Goodwill2,5342,5342,5342,534 
Intangible assets, net (excluding goodwill)2,6002,7762,9523,12879
Deposits noncurrent assets99313119
Restricted cash and investments  1,000  
Deferred income tax assets133001,600
Other undisclosed noncurrent assets1430479551,764
Total noncurrent assets:15,74216,05014,8749,9873,814
TOTAL ASSETS:39,55135,08732,38031,19617,773
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:6,3024,3242,5881,051939
Accounts payable1,283558636  
Accrued liabilities4571,226181  
Taxes payable4,5612,5401,7701,3571,102
Other undisclosed accounts payable and accrued liabilities   (307)(162)
Deferred revenue349314213
Debt794849406 201
Deferred revenue and credits209
Other undisclosed current liabilities2,3792,4043,5875,0541,352
Total current liabilities:9,8237,8916,7936,1052,701
Noncurrent Liabilities
Long-term debt and lease obligation1,7133,1943,5673,580151
Long-term debt, excluding current maturities1,5732,9993,1843,580151
Operating lease, liability140195384
Liabilities, other than long-term debt3102341,059  
Deferred income tax liabilities3102341,059
Other undisclosed noncurrent liabilities  5001,990 
Total noncurrent liabilities:2,0233,4285,1265,570151
Total liabilities:11,84611,31911,91911,6752,851
Stockholders' equity
Stockholders' equity attributable to parent25,10321,20717,91117,05914,922
Common stock1212121212
Additional paid in capital16,98416,63316,43715,32815,115
Accumulated other comprehensive loss(776)(872)(995)(1,223)(656)
Retained earnings8,8825,4332,4562,942452
Stockholders' equity attributable to noncontrolling interest2,6032,5622,5502,462 
Total stockholders' equity:27,70523,76820,46119,52214,922
TOTAL LIABILITIES AND EQUITY:39,55135,08732,38031,19617,773

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues34,41631,40727,44017,83015,494
Revenue, net15,494
Cost of revenue
(Cost of Goods and Services Sold)
(23,020)(21,641)(18,820)(12,193)(9,509)
Gross profit:11,3979,7668,6215,6375,985
Operating expenses(5,913)(5,649)(6,713)(4,330)(4,474)
Operating income:5,4834,1181,9081,3071,511
Nonoperating income (expense)
(Investment Income, Nonoperating)
58593040534(83)
Interest and debt expense (261)(428)(94)(1)
Other undisclosed income from continuing operations before equity method investments, income taxes    1,380
Income from continuing operations before equity method investments, income taxes:6,0684,7871,8841,2472,807
Other undisclosed income from continuing operations before income taxes5824034311,808 
Income from continuing operations before income taxes:6,6515,1912,3153,0552,807
Income tax expense(2,356)(1,607)(620)(533)(680)
Income before gain (loss) on sale of properties:4,2943,5841,6952,5222,127
Other undisclosed net income (loss)  602(100)(372)
Net income:4,2943,5842,2972,4221,755
Net income (loss) attributable to noncontrolling interest(845)(606)(385)69 
Net income available to common stockholders, diluted:3,4492,9771,9122,4901,755

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:4,2943,5842,2972,4221,755
Other comprehensive income (loss)   (1,855)431
Other undisclosed comprehensive income96122228  
Comprehensive income:4,3913,7062,5255662,186
Comprehensive loss, net of tax, attributable to noncontrolling interest(845)(606)(385)(1,924) 
Comprehensive income (loss), net of tax, attributable to parent:3,5463,1002,140(1,357)2,186

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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