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FORGE GLOBAL HOLDINGS INC (FRGE) Stock Fundamental Analysis

NYSE:FRGE - New York Stock Exchange, Inc. - US34629L2025 - Common Stock - Currency: USD

14.25  +0.13 (+0.92%)

Fundamental Rating

3

FRGE gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 230 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.
FRGE had a negative operating cash flow in the past year.
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

With a Return On Assets value of -25.61%, FRGE is not doing good in the industry: 89.13% of the companies in the same industry are doing better.
FRGE's Return On Equity of -29.92% is on the low side compared to the rest of the industry. FRGE is outperformed by 84.78% of its industry peers.
Industry RankSector Rank
ROA -25.61%
ROE -29.92%
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's Gross Margin of 99.02% is amongst the best of the industry. FRGE outperforms 100.00% of its industry peers.
FRGE's Gross Margin has been stable in the last couple of years.
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 99.02%
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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5

2. Health

2.1 Basic Checks

Compared to 1 year ago, FRGE has more shares outstanding
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

FRGE has an Altman-Z score of 0.70. This is a bad value and indicates that FRGE is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.70, FRGE is in line with its industry, outperforming 41.30% of the companies in the same industry.
FRGE has a Debt/Equity ratio of 0.03. This is a healthy value indicating a solid balance between debt and equity.
FRGE has a better Debt to Equity ratio (0.03) than 82.17% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z 0.7
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 5.01. This indicates that FRGE is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 5.01, FRGE belongs to the top of the industry, outperforming 87.39% of the companies in the same industry.
A Quick Ratio of 5.01 indicates that FRGE has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 5.01, FRGE belongs to the top of the industry, outperforming 87.39% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 5.01
Quick Ratio 5.01
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

FRGE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 30.80%, which is quite impressive.
FRGE shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 16.04%.
The Revenue for FRGE have been decreasing by -14.76% on average. This is quite bad
EPS 1Y (TTM)30.8%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%14%
Revenue 1Y (TTM)16.04%
Revenue growth 3Y-14.76%
Revenue growth 5YN/A
Sales Q2Q%31.46%

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 17.91% on average per year.
The Revenue is expected to grow by 15.38% on average over the next years. This is quite good.
EPS Next Y13.44%
EPS Next 2Y21.84%
EPS Next 3Y17.91%
EPS Next 5YN/A
Revenue Next Year15.67%
Revenue Next 2Y21.99%
Revenue Next 3Y15.38%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
FRGE Yearly Revenue VS EstimatesFRGE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M 80M 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

FRGE reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
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 20

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 15

4.3 Compensation for Growth

FRGE's earnings are expected to grow with 17.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y21.84%
EPS Next 3Y17.91%

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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 (5/22/2025, 3:01:56 PM)

14.25

+0.13 (+0.92%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-05 2025-08-05/amc
Inst Owners38.36%
Inst Owner Change5.97%
Ins Owners9.11%
Ins Owner Change-0.83%
Market Cap178.69M
Analysts76.67
Price Target38.25 (168.42%)
Short Float %N/A
Short Ratio0.8
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)2
Avg EPS beat(2)8.09%
Min EPS beat(2)4.13%
Max EPS beat(2)12.04%
EPS beat(4)3
Avg EPS beat(4)8.62%
Min EPS beat(4)-12.69%
Max EPS beat(4)31%
EPS beat(8)4
Avg EPS beat(8)-2.23%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)-3.23%
Min Revenue beat(2)-11.76%
Max Revenue beat(2)5.29%
Revenue beat(4)2
Avg Revenue beat(4)-3.81%
Min Revenue beat(4)-15.84%
Max Revenue beat(4)7.08%
Revenue beat(8)3
Avg Revenue beat(8)-2.86%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1002.94%
PT rev (3m)920.41%
EPS NQ rev (1m)-1613.07%
EPS NQ rev (3m)-1903.32%
EPS NY rev (1m)-6.18%
EPS NY rev (3m)-1978.28%
Revenue NQ rev (1m)-3.89%
Revenue NQ rev (3m)-18.11%
Revenue NY rev (1m)0.58%
Revenue NY rev (3m)-14.78%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.09
P/FCF N/A
P/OCF N/A
P/B 0.84
P/tB 2.05
EV/EBITDA N/A
EPS(TTM)-5.19
EYN/A
EPS(NY)-2.78
Fwd EYN/A
FCF(TTM)-3.33
FCFYN/A
OCF(TTM)-3.27
OCFYN/A
SpS6.81
BVpS17.03
TBVpS6.96
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -25.61%
ROE -29.92%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 99.02%
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
ROICexcg growth 3YN/A
ROICexcg 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-Score3
Asset Turnover0.34
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 12.78%
Cap/Sales 0.87%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 5.01
Quick Ratio 5.01
Altman-Z 0.7
F-Score3
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)30.8%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%14%
EPS Next Y13.44%
EPS Next 2Y21.84%
EPS Next 3Y17.91%
EPS Next 5YN/A
Revenue 1Y (TTM)16.04%
Revenue growth 3Y-14.76%
Revenue growth 5YN/A
Sales Q2Q%31.46%
Revenue Next Year15.67%
Revenue Next 2Y21.99%
Revenue Next 3Y15.38%
Revenue Next 5YN/A
EBIT growth 1Y21.09%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year71.66%
EBIT Next 3Y26.8%
EBIT Next 5YN/A
FCF growth 1Y32.01%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y27.26%
OCF growth 3YN/A
OCF growth 5YN/A