FBS Global Limited (FBGL) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, FBGL scores 19 out of 100 with a letter grade of E, labeled "Roarable Strong Sell — Forensic Risk / Avoid." Across the five pillars, the Fundamental Cash Engine scores 2 of 20 (ROIC -11.8%; FCF yield 0%), indicating the business is not currently generating returns on capital or free cash flow. Whale/13F Flow scores 3 of 20 and Insider Conviction scores 3 of 20, reflecting weak institutional and insider support signals. Macro Regime Fit scores 9 of 20 (Beta 1.0; sector sensitivity), the strongest pillar but still below midpoint. Forensic Balance Sheet scores 2 of 20 (Altman Z 1.22; Piotroski F 3/9; Debt/Equity 0.5), flagging elevated financial-distress and weak-quality indicators.

For a prospective investor, the practical implication is that the rating's upside case rests on balance-sheet repair and a return to cash generation, neither of which the source data shows yet. The valuation tradeoff is that a $2.9M market capitalization and a 52-week range of $2.04 - $14 reflect a stock that has lost most of its prior value, so the low price does not by itself signal undervaluation given the negative returns and forensic flags. Any evaluation should weigh these pillar scores against the risk of further deterioration rather than treat the low price as a discount.

Per the market data, gross margin is 10.2%, operating margin is -7.5%, and net margin is -7.9%, with ROIC at -11.8%. Per the Roarable RQD rating, the Altman Z-Score is 1.22, the Piotroski F-Score is 3/9, and Debt/Equity is 0.5. Per the SEC financials, revenue rose from $10.4M in FY 2024 to $19.1M in FY 2025 while operating and net losses widened and free cash flow turned negative at $-3.1M. Balance-sheet posture is weak on the forensic metrics cited, and cash and debt are not reported for FY 2025.

Per the recent news section, the dominant headline across sources concerns FBS Global regaining Nasdaq compliance with the minimum bid price requirement, reported by Yahoo Finance, GlobeNewswire, Investing.com India, and others. Per the same section, one item is tagged as a catalyst by its impact label and another as a market wire, and several listings are tagged as market wire items. The news items describe the compliance event; they do not include financial results, guidance, or operational developments. Per the Butterfly Supply-Chain Graph, no proprietary signals are recorded. Risk watch item: the compliance headline relates to share price maintenance rather than business performance.

• What drives the reported FY 2025 revenue jump to $19.1M alongside widening losses and negative free cash flow?
• What are the FY 2025 cash and total debt balances, which the financials leave as N/A?
• What products, customers, and revenue model underlie the Homebuilding classification?
• What are the earnings per share, P/E, and EV/EBITDA figures that the source data omits?
• Does the share consolidation that restored Nasdaq compliance change the company's fundamental trajectory?