FRGE Fundamental Analysis - FORGE GLOBAL HOLDINGS INC

Fundamental Rating

Taking everything into account, FRGE scores 3 out of 10 in our fundamental rating. FRGE was compared to 238 industry peers in the Capital Markets industry. While FRGE seems to be doing ok healthwise, there are quite some concerns on its profitability. While showing a medium growth rate, FRGE is valued expensive at the moment.

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1. Profitability

1.1 Basic Checks

In the past year FRGE has reported negative net income.

In the past year FRGE has reported a negative cash flow from operations.

In the past 5 years FRGE always reported negative net income.

In the past 5 years FRGE reported 4 times negative operating cash flow.

1.2 Ratios

FRGE has a Return On Assets of -25.83%. This is amonst the worse of the industry: FRGE underperforms 87.82% of its industry peers.

The Return On Equity of FRGE (-31.29%) is worse than 83.19% of its industry peers.

		Industry Rank	Sector Rank
ROA	-25.83%
ROE	-31.29%
ROIC	N/A

ROA(3y)-28.68%

ROA(5y)-19.39%

ROE(3y)-33.39%

ROE(5y)-23.24%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

FRGE has a better Gross Margin (99.19%) than 100.00% of its industry peers.

FRGE's Gross Margin has been stable in the last couple of years.

The Profit Margin and Operating Margin are not available for FRGE so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	99.19%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y0.53%

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The number of shares outstanding for FRGE has been increased compared to 1 year ago.

Compared to 1 year ago, FRGE has a worse debt to assets ratio.

2.2 Solvency

An Altman-Z score of 6.33 indicates that FRGE is not in any danger for bankruptcy at the moment.

With an excellent Altman-Z score value of 6.33, FRGE belongs to the best of the industry, outperforming 89.08% of the companies in the same industry.

FRGE has a Debt/Equity ratio of 0.05. This is a healthy value indicating a solid balance between debt and equity.

With an excellent Debt to Equity ratio value of 0.05, FRGE belongs to the best of the industry, outperforming 82.35% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	0.05
Debt/FCF	N/A
Altman-Z	6.33

ROIC/WACCN/A

WACCN/A

2.3 Liquidity

A Current Ratio of 3.98 indicates that FRGE has no problem at all paying its short term obligations.

Looking at the Current ratio, with a value of 3.98, FRGE belongs to the top of the industry, outperforming 83.61% of the companies in the same industry.

A Quick Ratio of 3.98 indicates that FRGE has no problem at all paying its short term obligations.

With an excellent Quick ratio value of 3.98, FRGE belongs to the best of the industry, outperforming 83.61% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	3.98
Quick Ratio	3.98

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 19.38% over the past year.

FRGE shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 13.62%.

Measured over the past years, FRGE shows a very negative growth in Revenue. The Revenue has been decreasing by -14.76% on average per year.

EPS 1Y (TTM)19.38%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%8.67%

Revenue 1Y (TTM)13.62%

Revenue growth 3Y-14.76%

Revenue growth 5YN/A

Sales Q2Q%10.64%

3.2 Future

Based on estimates for the next years, FRGE will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.34% on average per year.

The Revenue is expected to grow by 19.03% on average over the next years. This is quite good.

EPS Next Y18.29%

EPS Next 2Y24.47%

EPS Next 3Y19.34%

EPS Next 5YN/A

Revenue Next Year26.72%

Revenue Next 2Y24.2%

Revenue Next 3Y19.03%

Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for FRGE. In the last year negative earnings were reported.

Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for FRGE. No positive earnings are expected for the next year.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

A more expensive valuation may be justified as FRGE's earnings are expected to grow with 19.34% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y24.47%

EPS Next 3Y19.34%

More info and screens

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5. Dividend

5.1 Amount

FRGE does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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FORGE GLOBAL HOLDINGS INC

NYSE:FRGE (12/3/2025, 8:04:00 PM)

After market: 44.38 0 (0%)

44.38

+0.16 (+0.36%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupFinancial Services

GICS IndustryCapital Markets

Earnings (Last)11-13 2025-11-13/amc

Earnings (Next)03-03 2026-03-03/amc

Inst Owners36.88%

Inst Owner Change7.13%

Ins Owners6.23%

Ins Owner Change-0.03%

Market Cap610.67M

Revenue(TTM)79.33M

Net Income(TTM)-62.74M

Analysts80

Price Target51 (14.92%)

Short Float %1.91%

Short Ratio0.44

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly DividendN/A

Dividend Growth(5Y)N/A

DPN/A

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)-3.92%

Min EPS beat(2)-11.97%

Max EPS beat(2)4.13%

EPS beat(4)2

Avg EPS beat(4)-2.12%

Min EPS beat(4)-12.69%

Max EPS beat(4)12.04%

EPS beat(8)4

Avg EPS beat(8)-0.93%

EPS beat(12)6

Avg EPS beat(12)0.3%

EPS beat(16)N/A

Avg EPS beat(16)N/A

Revenue beat(2)2

Avg Revenue beat(2)16.57%

Min Revenue beat(2)5.29%

Max Revenue beat(2)27.84%

Revenue beat(4)2

Avg Revenue beat(4)1.38%

Min Revenue beat(4)-15.84%

Max Revenue beat(4)27.84%

Revenue beat(8)4

Avg Revenue beat(8)0.92%

Revenue beat(12)4

Avg Revenue beat(12)-1.72%

Revenue beat(16)N/A

Avg Revenue beat(16)N/A

PT rev (1m)29.87%

PT rev (3m)29.87%

EPS NQ rev (1m)1.2%

EPS NQ rev (3m)7.29%

EPS NY rev (1m)2.38%

EPS NY rev (3m)2.57%

Revenue NQ rev (1m)-0.25%

Revenue NQ rev (3m)0.68%

Revenue NY rev (1m)0%

Revenue NY rev (3m)0.12%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	6.72
P/FCF	N/A
P/OCF	N/A
P/B	3.05
P/tB	8.2
EV/EBITDA	N/A

EPS(TTM)-5.2

EYN/A

EPS(NY)-2.43

Fwd EYN/A

FCF(TTM)-2.54

FCFYN/A

OCF(TTM)-2.5

OCFYN/A

SpS6.6

BVpS14.57

TBVpS5.41

PEG (NY)N/A

PEG (5Y)N/A

Graham NumberN/A

Profitability

		Industry Rank	Sector Rank
ROA	-25.83%
ROE	-31.29%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	99.19%
FCFM	N/A

ROA(3y)-28.68%

ROA(5y)-19.39%

ROE(3y)-33.39%

ROE(5y)-23.24%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexgc growth 3YN/A

ROICexgc growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y0.53%

GM growth 5YN/A

F-Score4

Asset Turnover0.37

Health

		Industry Rank	Sector Rank
Debt/Equity	0.05
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	12.05%
Cap/Sales	0.63%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	3.98
Quick Ratio	3.98
Altman-Z	6.33

F-Score4

WACCN/A

ROIC/WACCN/A

Cap/Depr(3y)44.73%

Cap/Depr(5y)48.56%

Cap/Sales(3y)3.9%

Cap/Sales(5y)3.3%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)19.38%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%8.67%

EPS Next Y18.29%

EPS Next 2Y24.47%

EPS Next 3Y19.34%

EPS Next 5YN/A

Revenue 1Y (TTM)13.62%

Revenue growth 3Y-14.76%

Revenue growth 5YN/A

Sales Q2Q%10.64%

Revenue Next Year26.72%

Revenue Next 2Y24.2%

Revenue Next 3Y19.03%

Revenue Next 5YN/A

EBIT growth 1Y24.41%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year67.14%

EBIT Next 3Y27.85%

EBIT Next 5YN/A

FCF growth 1Y36.65%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y33.71%

OCF growth 3YN/A

OCF growth 5YN/A

FORGE GLOBAL HOLDINGS INC / FRGE FAQ

Can you provide the ChartMill fundamental rating for FORGE GLOBAL HOLDINGS INC?

ChartMill assigns a fundamental rating of 3 / 10 to FRGE.

Can you provide the valuation status for FORGE GLOBAL HOLDINGS INC?

ChartMill assigns a valuation rating of 0 / 10 to FORGE GLOBAL HOLDINGS INC (FRGE). This can be considered as Overvalued.

How profitable is FORGE GLOBAL HOLDINGS INC (FRGE) stock?

FORGE GLOBAL HOLDINGS INC (FRGE) has a profitability rating of 1 / 10.

Can you provide the financial health for FRGE stock?

The financial health rating of FORGE GLOBAL HOLDINGS INC (FRGE) is 6 / 10.

FORGE GLOBAL HOLDINGS INC (FRGE) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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FORGE GLOBAL HOLDINGS INC / FRGE FAQ

Can you provide the ChartMill fundamental rating for FORGE GLOBAL HOLDINGS INC?

Can you provide the valuation status for FORGE GLOBAL HOLDINGS INC?

How profitable is FORGE GLOBAL HOLDINGS INC (FRGE) stock?

Can you provide the financial health for FRGE stock?