(FRGE) Forge Global Holdings - Overview

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US34629L2025

Stock: Marketplace, Private Companies, Asset Management, Data, Custody

Total Rating 33
Risk 31
Buy Signal 0.00
Capital Markets +0.1
Application Software +33.4
Market Cap: 623m
Avg Trading Vol: 6.68M USD
ATR: 0.32%
Peers RS (IBD): 99.6
Risk 5d forecast
Volatility 2.20%
Relative Tail Risk -10.5%
Reward TTM
Sharpe Ratio 1.51
Alpha 173.84
Character TTM
Beta 1.754
Beta Downside 3.655
Drawdowns 3y
Max DD 87.53%
CAGR/Max DD 0.22

EPS (Earnings per Share)

EPS (Earnings per Share) of FRGE over the last years for every Quarter: "2021-03": 0.4, "2021-06": -0.06, "2021-09": -0.22, "2021-12": 0.05, "2022-03": -0.27, "2022-06": -0.2, "2022-09": -0.12, "2022-12": -0.15, "2023-03": -0.12, "2023-06": -0.14, "2023-09": -0.11, "2023-12": -0.15, "2024-03": -0.1, "2024-06": -0.08, "2024-09": -0.1, "2024-12": -0.0795, "2025-03": -1.29, "2025-06": -1.01, "2025-09": -1.37,
EPS CAGR: -71.46%
EPS Trend: -64.1%
Last SUE: -2.65
Qual. Beats: 0

Revenue

Revenue of FRGE over the last years for every Quarter: 2021-03: 32.055, 2021-06: 38.673, 2021-09: 27.658, 2021-12: 29.67, 2022-03: 20.022, 2022-06: 16.64, 2022-09: 15.9, 2022-12: 16.821, 2023-03: 15.46, 2023-06: 16.719999, 2023-09: 18.563, 2023-12: 19.059, 2024-03: 19.242, 2024-06: 22.282, 2024-09: 19.216, 2024-12: 18.589, 2025-03: 25.296, 2025-06: 27.739, 2025-09: 21.26,
Rev. CAGR: -8.50%
Rev. Trend: 32.1%
Last SUE: -0.97
Qual. Beats: 0

Description: FRGE Forge Global Holdings March 04, 2026

Forge Global Holdings, Inc. (FRGE) operates a financial services platform based in California. The company specializes in private market transactions, connecting investors with private companies and facilitating share sales.

Its offerings include a marketplace for private securities, solutions for private companies to manage liquidity and capital, asset management services, and data solutions. The platform addresses the growing demand for liquidity in the private equity and venture capital sectors. Additionally, FRGE provides custody solutions, including services for self-directed IRA accounts.

The company, founded in 2014 and headquartered in San Francisco, operates within the Application Software sub-industry, indicating its technology-driven approach to financial services. Further research on ValueRay can provide deeper insights into FRGEs market position and financial performance.

Headlines to watch out for

  • Private market transaction volume impacts marketplace revenue
  • Regulatory changes to private securities markets pose risk
  • Interest rate fluctuations affect investor demand for private assets
  • Competition from other private market platforms intensifies
  • Economic downturns reduce private company valuations and trading activity

Piotroski VR‑10 (Strict, 0-10) 1.0

Net Income: -62.6m TTM > 0 and > 6% of Revenue
FCF/TA: -0.16 > 0.02 and ΔFCF/TA -1.36 > 1.0
NWC/Revenue: 51.23% < 20% (prev 132.0%; Δ -80.74% < -1%)
CFO/TA -0.16 > 3% & CFO -39.9m > Net Income -62.6m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 2.55 > 1.5 & < 3
Outstanding Shares: last quarter (13.3m) vs 12m ago 8.66% < -2%
Gross Margin: 11.93% > 18% (prev -0.10%; Δ 1204 % > 0.5%)
Asset Turnover: 35.14% > 50% (prev 28.85%; Δ 6.29% > 0%)
Interest Coverage Ratio: -22.50 > 6 (EBITDA TTM -60.9m / Interest Expense TTM -2.91m)

Altman Z'' -14.56

A: 0.19 (Total Current Assets 78.3m - Total Current Liabilities 30.7m) / Total Assets 252.0m
B: -1.56 (Retained Earnings -393.9m / Total Assets 252.0m)
C: -0.25 (EBIT TTM -65.5m / Avg Total Assets 264.3m)
D: -8.61 (Book Value of Equity -392.7m / Total Liabilities 45.6m)
Altman-Z'' Score: -14.56 = D

Beneish M -2.90

DSRI: 0.87 (Receivables 8.08m/8.02m, Revenue 92.9m/79.8m)
GMI: 1.00 (fallback, negative margins)
AQI: 1.36 (AQ_t 0.67 / AQ_t-1 0.50)
SGI: 1.16 (Revenue 92.9m / 79.8m)
TATA: -0.09 (NI -62.6m - CFO -39.9m) / TA 252.0m)
Beneish M-Score: -2.90 (Cap -4..+1) = A

What is the price of FRGE shares?

As of March 09, 2026, the stock is trading at USD 45.00 with a total of 0 shares traded.
Over the past week, the price has changed by +0.00%, over one month by +0.78%, over three months by +1.42% and over the past year by +417.24%.

Is FRGE a buy, sell or hold?

Forge Global Holdings has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy FRGE.
  • StrongBuy: 2
  • Buy: 2
  • Hold: 2
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the FRGE price?

Issuer Target Up/Down from current
Wallstreet Target Price 45 0%
Analysts Target Price 45 0%

FRGE Fundamental Data Overview March 06, 2026

P/S = 6.7074
P/B = 3.0744
Revenue TTM = 92.9m USD
EBIT TTM = -65.5m USD
EBITDA TTM = -60.9m USD
Long Term Debt = 9.44m USD (from longTermDebt, last quarter)
Short Term Debt = 1.51m USD (from shortTermDebt, last quarter)
Debt = 4.53m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -27.8m USD (from netDebt column, last quarter)
Enterprise Value = 565.8m USD (623.0m + Debt 4.53m - CCE 61.8m)
Interest Coverage Ratio = -22.50 (Ebit TTM -65.5m / Interest Expense TTM -2.91m)
EV/FCF = -14.04x (Enterprise Value 565.8m / FCF TTM -40.3m)
FCF Yield = -7.12% (FCF TTM -40.3m / Enterprise Value 565.8m)
FCF Margin = -43.39% (FCF TTM -40.3m / Revenue TTM 92.9m)
Net Margin = -67.42% (Net Income TTM -62.6m / Revenue TTM 92.9m)
Gross Margin = 11.93% ((Revenue TTM 92.9m - Cost of Revenue TTM 81.8m) / Revenue TTM)
Gross Margin QoQ = -33.25% (prev 1.41%)
Tobins Q-Ratio = 2.24 (Enterprise Value 565.8m / Total Assets 252.0m)
Interest Expense / Debt = 222.8% (Interest Expense 10.1m / Debt 4.53m)
Taxrate = 21.0% (US default 21%)
NOPAT = -51.8m (EBIT -65.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.55 (Total Current Assets 78.3m / Total Current Liabilities 30.7m)
Debt / Equity = 0.02 (Debt 4.53m / totalStockholderEquity, last quarter 202.6m)
Debt / EBITDA = 0.46 (negative EBITDA) (Net Debt -27.8m / EBITDA -60.9m)
Debt / FCF = 0.69 (negative FCF - burning cash) (Net Debt -27.8m / FCF TTM -40.3m)
Total Stockholder Equity = 210.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -23.69% (Net Income -62.6m / Total Assets 252.0m)
RoE = -29.81% (Net Income TTM -62.6m / Total Stockholder Equity 210.1m)
RoCE = -29.85% (EBIT -65.5m / Capital Employed (Equity 210.1m + L.T.Debt 9.44m))
RoIC = -23.69% (negative operating profit) (NOPAT -51.8m / Invested Capital 218.5m)
WACC = 12.29% (E(623.0m)/V(627.5m) * Re(12.38%) + (debt cost/tax rate unavailable))
Discount Rate = 12.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 6.87%
[DCF] Fair Price = unknown (Cash Flow -40.3m)
EPS Correlation: -64.14 | EPS CAGR: -71.46% | SUE: -2.65 | # QB: 0
Revenue Correlation: 32.13 | Revenue CAGR: -8.50% | SUE: -0.97 | # QB: 0
EPS next Year (2026-12-31): EPS=-1.58 | Chg7d=+0.477 | Chg30d=+0.477 | Revisions Net=+1 | Growth EPS=+55.8% | Growth Revenue=+28.0%

Additional Sources for FRGE Stock

Fund Manager Positions: Dataroma | Stockcircle