February 12, 2026

Future Energy Source Company Limited (FESCO)

Unaudited financials for the nine months ended December 31, 2025:

Future Energy Source Company Limited (FESCO) for the nine months ended December 31, 2025, reported a 6% increase in Revenue totaling $24.41 billion compared to $23.04 billion in the corresponding period last year. Revenue for the third quarter had a 20% increase to close at $8.80 billion compared to $7.33 billion for the comparable quarter of 2024.

Cost Of Goods Sold amounted to $22.82 billion (2024: $21.75 billion), this represents a increase of 5% year over year. Consequently, gross profit increased by 23% to $1.59 billion compared to $1.29 billion for the nine months ended December 31, 2024. The company booked gross profit of $597.09 million for the third quarter versus $422.22 million reported for the similar quarter of 2024.

Other Income increased by 556% to close at $20.33 million (2024: $3.10 million), while Impairment losses on financial assets increased by 362% from $1.97 million in 2024 to $9.10 million in the period under review. Also, Operating and Admin expenses increased by 20% to $895.87 million in 2025 (2024: $747.58 million).

Consequently, Operating Profit for the nine months ended December 31, 2025, amounted to $706.41 million, a 30% increase relative to $543.16 million reported in 2024. Operating Profit for the third quarter amounted to $288.63 million (2024: $152.91 million). FESCO highlighted, “This level of financial performance is attributed to the Company distributing more fuel (measured in litres) than it has ever done before (up 11.9% YTD) compared to the previous year.”

Net Finance Cost totalled $118.51 million a 13% decrease from the corresponding period last year. (2024: $136.69 million).

No taxes were reported. As such, Net profit for the nine months amounted to $587.90 million, a 45% increase from the $406.47 million reported in 2024. For the third quarter, Net profit was $242.70 million (2024: $87.80 million).

Consequently, Earnings Per Share for the nine months amounted to $0.24 (2024: EPS: $0.16), while Earnings Per Share for the quarter totaled $0.10 (2024: EPS: $0.04). The twelve-month trailing EPS was $0.26, and the number of shares used in these calculations was 2,500,000,000.

Notably, FESCO’s stock price closed the trading period on February 11, 2026, at a price of $2.55 with a corresponding P/E ratio of 9.91x.

Balance Sheet Highlights

The company’s assets totalled $6.14 billion (2024: $5.50 billion). The growth in total assets was primarily driven by a $555.87 million or 14% increase in ‘PPE’ to close the period at $4.43 billion.

Shareholder’s equity was $3.24 billion (2024: $2.66 billion), representing a book value per share of $1.29 (2024: $1.07).

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