FST Corp.
KBSX · Price history
Price at last available close
$1.23
−$0.48 (-28.07%) 1M
2026-10-28
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Company & revenue
About FST Corp.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Based in Chiayi, Taiwan, FST Corp. specializes in the full scope of activities for steel golf shafts. This includes their conceptualization, production, global marketing, and distribution. The company provides these essential components to golf club original equipment manufacturers and various distributors across the world.
How they make money
FST Corp. designs, manufactures, and sells golf club shafts under its proprietary KBS brand. The company generates revenue through direct sales to professional and retail customers, as well as by providing original equipment manufacturer (OEM) and original design manufacturer (ODM) services to international golf equipment brands.
Products & services
Golf club shafts in steel and graphite materials across premium, standard, and economy tiers, and custom-fitting services through KBS Golf Experience stores.
Brands & revenue mix
Proprietary brand for professional and retail golf club shafts.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Steel and graphite raw material suppliers — Unnamed suppliers of raw materials used in the production of golf club shafts.Source
Strengths
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
34
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
40
Weak
Financial Strength
28
Business Quality / Moat
46
Management
63
Growth Quality
47
Risk / Durability
10
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
17
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
27/100
Building Historical Record
Model Score 27/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
No strong positive signal is being highlighted from the currently available summary data.
- •Debt service risk
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for KBSX
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can KBSX maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can KBSX fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Is KBSX's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify KBSX's current valuation?
Essential Investment Snapshot
Wall Street Score
34
Opportunity Score
17
Market Cap
$55.1M
P/E Ratio
15.2
EPS
$0.11
52-Week High
$1.79
52-Week Low
$0.81
Beta
0.39
Intrinsic Value
$0.96
Shares Outstanding
44.5M
Total Revenue
$53.0M
Total Debt
$37.0M
Dividend
No current dividend
Liquidation Value / Share
$0.36
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
Extreme movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for KBSX
Detected from reported data — verify before acting.Debt service risk
Interest coverage is low (~-2.8x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total callsNo personal call yet on KBSX.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Proprietary KBS brand recognition.
- +Integrated manufacturing and custom-fitting capabilities.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Leisure industry.
- −Dependence on golf industry demand and consumer discretionary spending.
- −Operational risks associated with manufacturing facilities and supply chain stability.
- −Negative free cash flow may increase the need for outside financing and dilution.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
2 historical score records availablePrevious Score
21
Jul 24, 2026
Change
+12.9
points
Current Score
34
Oct 1, 2026
Category Changes
KBSX increased 12.9 points because Revenue improved by 7.7 points, Capital improved by 46 points, Management improved by 62.5 points.
Positive Contributors
- + Revenue improved by 7.7 points
- + Capital improved by 46 points
- + Management improved by 62.5 points
- + Moat improved by 15.8 points
- + Valuation improved by 22.1 points
- + Buffett improved by 13.9 points
Negative Contributors
- − Asset declined by 10.5 points
Projected Score
Projected Score
32
Projected Change
-2.2 points
Preliminary comparable-period financial changes suggest decline of approximately 2.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$1.23
Model Intrinsic Value
$0.96
Difference
+$0.27
+27.8% vs IV
Margin of Safety
-27.8%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $53.0M | $48.0M | $36.5M | $28.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $29.0M | $27.3M | $20.8M | $15.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $24.0M | $20.6M | $15.7M | $13.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $1.6M | $1.5M | $1.3M | $1.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $20.8M | $21.5M | $18.1M | $15.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $22.4M | $23.0M | $19.4M | $16.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $3.8M | -$128K | -$1.7M | -$1.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $1.6M | -$2.3M | -$3.6M | -$3.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $669K | $845K | $543K | $15K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $5.1M | -$2.2M | -$2.8M | -$2.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | -$17K | -$730K | $456K | -$751K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $5.1M | -$1.5M | -$3.2M | -$2.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $0.11 | $-0.03 | $-0.09 | $-0.05 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 44.77M | 44.48M | 37.75M | 46.21M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 44.77M | 44.48M | 37.75M | 46.21M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$12.6M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.02
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+1.2%
Cash Change
+20.9%
Margin Change
+17.9 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
What Weakened
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, cash levels, net income margin. Pressure indicators included EPS growth, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 9.7%. EPS declined 65.0%. Cash increased 20.9%. Total debt increased 1.2%. Net income margin improved by 17.9 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
2 historical records2 historical score records available.
Historical Score Chart
2 of 2 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
LeisureNews
FST Corp. Launches KBS TOUR V-X Steel Iron Shaft Family, Engineered for Best-in-Category Stability and Dispersion
FST Corp. to Present at the 28th Annual H.C. Wainwright Global Investment Conference
FST (NASDAQ:KBSX) versus Life Clips (OTCMKTS:LCLP) Head to Head Review
FST Corp.'s KBS Hi-Rev 2.0 Selected as Stock Steel Shaft for TaylorMade Golf's New Hi-Toe 5 Wedge Family
Rumor Mill · KBSX
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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