Founder Group Limited (FGL)

Nasdaq: FGL · Construction - Special Trade Contractors · filing with the SEC since 2024

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Grade5.0

◀ Past 5.5● Present 4.8▶ Future 4.5

2 est.

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The grade of Founder Group Limited

Nine metrics read from its own filings, by tense

Headline grade

5.0/10

◀ Past5.540% of the headline

● Present4.835% of the headline

▶ Future4.525% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.5/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed

8.2/10

Has it survived what it has been through?

No warning events in its filings since 2024.

weight 33% of this tense · 82nd percentile among 19 sector filers · read for itself

From the record

Founder Group Limited's filings since 2024 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

4.3/10

What has it actually done, year after year?

+19.3% a year over 3 filed years; profitable in 2 of 3.

weight 45% of this tense · 43rd percentile among 19 sector filers · read for its customers

From the record

Founder Group Limited's 3 filed years say what it did: revenue went from MYR 64 million in fiscal 2022 to MYR 90 million in fiscal 2024, up 19.3% a year; it rose in 1 of 2 years; the deepest fall was 39% from fiscal 2023 to fiscal 2024; net income was positive in 2 of 3 of those years (its annual reports).

What it rests on

revenue growth over the filed span19.3%top 34% of its family
the share of years revenue rosebottom 13% of its family
the share of filed years with a profittop 45% of its family
the deepest fall from a revenue peak39.0%bottom 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

3.7/10

How has it treated the people who own it?

Share count grew 6.1% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 37th percentile among 8 sector filers · read for its shareholders

From the record

Over the 2 fiscal years to 2024-12-31, Founder Group Limited's diluted share count grew about 6.1% a year, and dividends and buybacks returned about 0% of its net income over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 43% of its family
cash returned against operating cash flowbottom 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

4.8/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.9/10

Is it financially healthy right now?

ROE -30%: lost 30¢ per shareholder dollar. Leverage 85%: owes 85¢ per asset dollar.

weight 33% of this tense · 39th percentile among 19 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2024-12-31, Founder Group Limited lost about 30 cents for every dollar of shareholders' money, and gross profitability: its products earned about 5 cents per dollar of everything the company owns. Leverage: it owed about 85 cents per dollar of assets, and net share issuance: its share count grew 12.5% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 34% of its family
return on equitybottom 41% of its family
gross profit against assetsbottom 25% of its family
the share count against the year beforetop 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

5.3/10

How strong is its position in its industry?

top 47% of 19 in its family; net margin -5.7%.

weight 45% of this tense · 53rd percentile among 19 sector filers · read for its customers

From the record

Founder Group Limited's standing among 19 graded names in its industry family: revenue of MYR 90 million in fiscal 2024 is not ranked by size, since the family reports in another currency; a net margin of -5.7% ranks in the top 45%; revenue growth of 19.3% a year over the last 2 filed years ranks in the top 50% (its annual reports).

What it rests on

net margin-5.7%top 45% of its family
three-year revenue growth19.3%top 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.4/10

What are the people in charge doing?

SI estimate 5.4/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 8 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 8 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 8 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Founder Group Limited's leadership is put at 5.4 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 8 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.5/1025% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

as filed

3.2/10

How much room does it have to grow?

bottom 32% of 19 in its family for room to expand.

weight 33% of this tense · 32nd percentile among 19 sector filers · read for itself

From the record

Founder Group Limited's room to grow, from the newest filed statements (fiscal 2024): cash of MYR 5 million against debt of MYR 35 million leaves -26.7% of its assets as net cash, bottom 36% of its family; cash from operations less capital spending is -8.2% of revenue (bottom 29%); a gross margin of 6.9% (bottom 31%) (its annual report).

What it rests on

cash less debt against assets-26.7%bottom 36% of its family
cash from operations less capital spending against revenue-8.2%bottom 29% of its family
gross margin6.9%bottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.6/10

What could actually drive growth from here?

bottom 46% of 19 in its family for growth drivers.

weight 33% of this tense · 46th percentile among 19 sector filers · read for its customers

From the record

Founder Group Limited's growth drivers, from the filed years to fiscal 2024: revenue grew 19.3% a year over the last three filed years against 19.3% over all 3, speeding up (bottom 42% of its family); the newest year grew -38.9% (bottom 8%); capital spending grew 179.1% a year (top 11%) (its annual reports). Founder Group Limited tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span+0.0 points a yearbottom 42% of its family
the newest year's revenue growth-38.9%bottom 8% of its family
three-year growth of capital spending179.1%top 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate

5.7/10

Did its newest year beat what its own record pointed to?

SI estimate 5.7/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 15 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 15 members with one.
What the record cannot read: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned: family median, 15 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Founder Group Limited's expectations vs reality is put at 5.7 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 15 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton FGL · research, not advice