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FORGE GLOBAL HOLDINGS INC (FRGE) Stock Fundamental Analysis

USA - NYSE:FRGE - US34629L2025 - Common Stock

44.21 USD
+0.22 (+0.5%)
Last: 11/10/2025, 8:04:00 PM
44.1912 USD
-0.02 (-0.04%)
After Hours: 11/10/2025, 8:04:00 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to FRGE. FRGE was compared to 237 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.


Dividend Valuation Growth Profitability Health

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1

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.
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

The Return On Assets of FRGE (-25.83%) is worse than 88.61% of its industry peers.
The Return On Equity of FRGE (-31.29%) is worse than 84.39% of its industry peers.
Industry RankSector 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
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 99.19%. This is amongst the best in the industry. FRGE outperforms 100.00% of its industry peers.
In the last couple of years the Gross Margin of FRGE has remained more or less at the same level.
The Profit Margin and Operating Margin are not available for FRGE so they could not be analyzed.
Industry RankSector 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
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

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6

2. Health

2.1 Basic Checks

The number of shares outstanding for FRGE has been increased compared to 1 year ago.
The debt/assets ratio for FRGE is higher compared to a year ago.
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 6.19 indicates that FRGE is not in any danger for bankruptcy at the moment.
FRGE has a Altman-Z score of 6.19. This is amongst the best in the industry. FRGE outperforms 87.76% of its industry peers.
FRGE has a Debt/Equity ratio of 0.05. This is a healthy value indicating a solid balance between debt and equity.
FRGE's Debt to Equity ratio of 0.05 is amongst the best of the industry. FRGE outperforms 83.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF N/A
Altman-Z 6.19
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

A Current Ratio of 3.98 indicates that FRGE has no problem at all paying its short term obligations.
FRGE has a better Current ratio (3.98) than 84.39% of its industry peers.
A Quick Ratio of 3.98 indicates that FRGE has no problem at all paying its short term obligations.
FRGE has a Quick ratio of 3.98. This is amongst the best in the industry. FRGE outperforms 84.39% of its industry peers.
Industry RankSector Rank
Current Ratio 3.98
Quick Ratio 3.98
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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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 19.24% over the past year.
Looking at the last year, FRGE shows a quite strong growth in Revenue. The Revenue has grown by 14.78% in the last year.
The Revenue for FRGE have been decreasing by -14.76% on average. This is quite bad
EPS 1Y (TTM)19.24%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-11.67%
Revenue 1Y (TTM)14.78%
Revenue growth 3Y-14.76%
Revenue growth 5YN/A
Sales Q2Q%24.49%

3.2 Future

The Earnings Per Share is expected to grow by 19.34% on average over the next years. This is quite good.
FRGE is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 19.03% yearly.
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.
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

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0

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 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 20 40

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

FRGE's earnings are expected to grow with 19.34% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y24.47%
EPS Next 3Y19.34%

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0

5. Dividend

5.1 Amount

FRGE does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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FORGE GLOBAL HOLDINGS INC

NYSE:FRGE (11/10/2025, 8:04:00 PM)

After market: 44.1912 -0.02 (-0.04%)

44.21

+0.22 (+0.5%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)11-04 2025-11-04/amc
Earnings (Next)03-03 2026-03-03/amc
Inst Owners36.88%
Inst Owner Change-0.8%
Ins Owners6.23%
Ins Owner Change-0.04%
Market Cap601.26M
Revenue(TTM)90.84M
Net Income(TTM)-62.74M
Analysts80
Price Target39.27 (-11.17%)
Short Float %1.82%
Short Ratio2.6
Dividend
Industry RankSector 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)0%
PT rev (3m)2.67%
EPS NQ rev (1m)1.84%
EPS NQ rev (3m)7.57%
EPS NY rev (1m)2.57%
EPS NY rev (3m)5.6%
Revenue NQ rev (1m)0.83%
Revenue NQ rev (3m)8.51%
Revenue NY rev (1m)0.12%
Revenue NY rev (3m)12.08%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 6.62
P/FCF N/A
P/OCF N/A
P/B 3
P/tB 8.07
EV/EBITDA N/A
EPS(TTM)-5.33
EYN/A
EPS(NY)-2.43
Fwd EYN/A
FCF(TTM)-2.57
FCFYN/A
OCF(TTM)-2.52
OCFYN/A
SpS6.68
BVpS14.74
TBVpS5.48
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector 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 RankSector 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 6.19
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)19.24%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-11.67%
EPS Next Y18.29%
EPS Next 2Y24.47%
EPS Next 3Y19.34%
EPS Next 5YN/A
Revenue 1Y (TTM)14.78%
Revenue growth 3Y-14.76%
Revenue growth 5YN/A
Sales Q2Q%24.49%
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.