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FORGE GLOBAL HOLDINGS INC (FRGE) Stock Fundamental Analysis

USA - New York Stock Exchange - NYSE:FRGE - US34629L2025 - Common Stock

44.62 USD
+0.05 (+0.11%)
Last: 1/20/2026, 8:04:00 PM
44.62 USD
0 (0%)
After Hours: 1/20/2026, 8:04:00 PM
Fundamental Rating

3

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. FRGE is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

1

1. Profitability

1.1 Basic Checks

  • FRGE had negative earnings in the past year.
  • In the past year FRGE has reported a negative cash flow from operations.
  • FRGE had negative earnings in each of the past 5 years.
  • FRGE had negative operating cash flow in 4 of the past 5 years.
FRGE Yearly Net Income VS EBIT VS OCF VS FCFFRGE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 -20M -40M -60M -80M -100M

1.2 Ratios

  • Looking at the Return On Assets, with a value of -24.85%, FRGE is doing worse than 89.92% of the companies in the same industry.
  • The Return On Equity of FRGE (-30.90%) is worse than 81.93% of its industry peers.
Industry RankSector Rank
ROA -24.85%
ROE -30.9%
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
FRGE Yearly ROA, ROE, ROICFRGE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 -10 -20 -30

1.3 Margins

  • FRGE has a Gross Margin of 98.98%. This is amongst the best in the industry. FRGE outperforms 99.58% of its industry peers.
  • In the last couple of years the Gross Margin of FRGE has remained more or less at the same level.
  • FRGE does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 98.98%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.53%
GM growth 5YN/A
FRGE Yearly Profit, Operating, Gross MarginsFRGE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 50 -50 -100 -150

More info and screens

5

2. Health

2.1 Basic Checks

  • Compared to 1 year ago, FRGE has more shares outstanding
  • FRGE has a worse debt/assets ratio than last year.
FRGE Yearly Shares OutstandingFRGE Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
FRGE Yearly Total Debt VS Total AssetsFRGE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

  • An Altman-Z score of 5.00 indicates that FRGE is not in any danger for bankruptcy at the moment.
  • With an excellent Altman-Z score value of 5.00, FRGE belongs to the best of the industry, outperforming 84.87% 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.
  • The Debt to Equity ratio of FRGE (0.05) is better than 81.93% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF N/A
Altman-Z 5
ROIC/WACCN/A
WACCN/A
FRGE Yearly LT Debt VS Equity VS FCFFRGE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 100M 200M 300M

2.3 Liquidity

  • FRGE has a Current Ratio of 2.55. This indicates that FRGE is financially healthy and has no problem in meeting its short term obligations.
  • FRGE's Current ratio of 2.55 is fine compared to the rest of the industry. FRGE outperforms 79.41% of its industry peers.
  • A Quick Ratio of 2.55 indicates that FRGE has no problem at all paying its short term obligations.
  • FRGE has a Quick ratio of 2.55. This is in the better half of the industry: FRGE outperforms 79.41% of its industry peers.
Industry RankSector Rank
Current Ratio 2.55
Quick Ratio 2.55
FRGE Yearly Current Assets VS Current LiabilitesFRGE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 50M 100M 150M 200M

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5

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 19.38% over the past year.
  • The Revenue has grown by 16.40% in the past year. This is quite good.
  • FRGE shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -14.76% yearly.
EPS 1Y (TTM)19.38%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%8.67%
Revenue 1Y (TTM)16.4%
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 very strong growth in Earnings Per Share. The EPS will grow by 23.11% on average per year.
  • FRGE is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 21.12% yearly.
EPS Next Y26.33%
EPS Next 2Y25.22%
EPS Next 3Y23.11%
EPS Next 5YN/A
Revenue Next Year27.08%
Revenue Next 2Y25.57%
Revenue Next 3Y21.12%
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.
FRGE Yearly Revenue VS EstimatesFRGE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M
FRGE Yearly EPS VS EstimatesFRGE Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 -2 -4 -6 -8 -10

More info and screens

1

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings Ratio is negative for FRGE. In the last year negative earnings were reported.
  • Also next year FRGE is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
FRGE Price Earnings VS Forward Price EarningsFRGE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
FRGE Per share dataFRGE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10

4.3 Compensation for Growth

  • A more expensive valuation may be justified as FRGE's earnings are expected to grow with 23.11% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y25.22%
EPS Next 3Y23.11%

More info and screens

0

5. Dividend

5.1 Amount

  • FRGE does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

FORGE GLOBAL HOLDINGS INC

NYSE:FRGE (1/20/2026, 8:04:00 PM)

After market: 44.62 0 (0%)

44.62

+0.05 (+0.11%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)11-13
Earnings (Next)03-03
Inst Owners37.42%
Inst Owner Change1.35%
Ins Owners5.09%
Ins Owner Change-0.43%
Market Cap613.97M
Revenue(TTM)92.88M
Net Income(TTM)-62.62M
Analysts48.89
Price Target45.9 (2.87%)
Short Float %4.82%
Short Ratio0.97
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)0
Avg EPS beat(2)-21.34%
Min EPS beat(2)-30.72%
Max EPS beat(2)-11.97%
EPS beat(4)2
Avg EPS beat(4)-6.63%
Min EPS beat(4)-30.72%
Max EPS beat(4)12.04%
EPS beat(8)4
Avg EPS beat(8)-4.23%
EPS beat(12)5
Avg EPS beat(12)-3.59%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)7.35%
Min Revenue beat(2)-13.14%
Max Revenue beat(2)27.84%
Revenue beat(4)2
Avg Revenue beat(4)2.06%
Min Revenue beat(4)-13.14%
Max Revenue beat(4)27.84%
Revenue beat(8)3
Avg Revenue beat(8)-0.84%
Revenue beat(12)4
Avg Revenue beat(12)-2.31%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-10%
PT rev (3m)16.88%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.17%
EPS NY rev (1m)0%
EPS NY rev (3m)12.16%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.14%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.41%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 6.61
P/FCF N/A
P/OCF N/A
P/B 3.03
P/tB 13.83
EV/EBITDA N/A
EPS(TTM)-5.2
EYN/A
EPS(NY)-2.33
Fwd EYN/A
FCF(TTM)-2.93
FCFYN/A
OCF(TTM)-2.9
OCFYN/A
SpS6.75
BVpS14.73
TBVpS3.23
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -24.85%
ROE -30.9%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 98.98%
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 RankSector Rank
Debt/Equity 0.05
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 11.45%
Cap/Sales 0.48%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.55
Quick Ratio 2.55
Altman-Z 5
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 Y26.33%
EPS Next 2Y25.22%
EPS Next 3Y23.11%
EPS Next 5YN/A
Revenue 1Y (TTM)16.4%
Revenue growth 3Y-14.76%
Revenue growth 5YN/A
Sales Q2Q%10.64%
Revenue Next Year27.08%
Revenue Next 2Y25.57%
Revenue Next 3Y21.12%
Revenue Next 5YN/A
EBIT growth 1Y24.58%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year67.38%
EBIT Next 3Y28.3%
EBIT Next 5YN/A
FCF growth 1Y12.11%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y9.27%
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.


What is the valuation status of FORGE GLOBAL HOLDINGS INC (FRGE) stock?

ChartMill assigns a valuation rating of 1 / 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.


What is the expected EPS growth for FORGE GLOBAL HOLDINGS INC (FRGE) stock?

The Earnings per Share (EPS) of FORGE GLOBAL HOLDINGS INC (FRGE) is expected to grow by 26.33% in the next year.