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Forge Global Holdings, Inc. (FRGE) 10-Year Financial Performance & Capital Metrics

FRGE • • Industrial / General
TechnologyApplication SoftwareFinancial Technology & PaymentsTrading & Investment Platforms
AboutForge Global Holdings, Inc. provides marketplace infrastructure, data services, and technology solutions for private market participants. It enables private company shareholders to trade private company shares with accredited investors. The company was founded in 2014 and is based in San Francisco, California.Show more
  • Revenue $79M +13.6%
  • EBITDA -$73M +10.3%
  • Net Income -$66M +26.5%
  • EPS (Diluted) -5.43 +30.4%
  • Gross Margin -43.28% -143.6%
  • EBITDA Margin -91.96% +21.1%
  • Operating Margin -103.7% +20.8%
  • Net Margin -83.62% +35.3%
  • ROE -26.79% +11.8%
  • ROIC -45.59% +8.9%
  • Debt/Equity 0.06 +59.5%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 95 (top 5%)
  • ✓Strong 5Y sales CAGR of 27.0%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y26.96%
3Y-14.75%
TTM16.4%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM18.13%

EPS CAGR

10Y-
5Y-
3Y-
TTM17.53%

ROCE

10Y Avg-22.61%
5Y Avg-23.87%
3Y Avg-36.38%
Latest-31.35%

Peer Comparison

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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MKTWMarketWise, Inc.38.21M15.814.43-8.81%1.7%
AGMHAGM Group Holdings Inc.4.05M2.000.31-65.51%9.73%14.26%100%0.10
NUKKNukkleus Inc.85.47M3.65-0.74-63.55%-144.07%
MTCMMTec, Inc.77.32M3.07-0.84114.77%-35.07%-122.4%0.93%1.22
MFImF International Limited833.78M17.00-1.34-18.38%-50.03%-132.69%0.21
BULLWebull Corporation Class A Ordinary Shares3.42B8.18-7.240.16%-3.03%-1.84%5.35%0.03
FRGEForge Global Holdings, Inc.616.78M44.55-8.2013.62%-67.42%-30.34%0.06
BLBXBlackboxstocks Inc.43.31M10.06-9.77-17.36%-157.79%-78.75%0.06

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+24.05M47.76M128.06M69.38M69.82M79.33M
Revenue Growth %-0.99%1.68%-0.46%0.01%0.14%
Cost of Goods Sold+003.03M483K431K113.67M
COGS % of Revenue--0.02%0.01%0.01%1.43%
Gross Profit+24.05M47.76M125.02M68.9M69.39M-34.34M
Gross Margin %1%1%0.98%0.99%0.99%-0.43%
Gross Profit Growth %-0.99%1.62%-0.45%0.01%-1.49%
Operating Expenses+38.7M55.37M134.81M203.94M160.84M47.93M
OpEx % of Revenue1.61%1.16%1.05%2.94%2.3%0.6%
Selling, General & Admin37.85M45.06M30.14M41.63M153.88M41.27M
SG&A % of Revenue1.57%0.94%0.24%0.6%2.2%0.52%
Research & Development2.46M4.62M0000
R&D % of Revenue0.1%0.1%----
Other Operating Expenses-1.61M5.7M104.67M162.31M6.95M6.66M
Operating Income+-14.65M-7.62M-9.79M-135.04M-91.45M-82.26M
Operating Margin %-0.61%-0.16%-0.08%-1.95%-1.31%-1.04%
Operating Income Growth %-0.48%-0.29%-12.8%0.32%0.1%
EBITDA+-13.04M-3.57M-4.6M-130.81M-81.34M-72.95M
EBITDA Margin %-0.54%-0.07%-0.04%-1.89%-1.17%-0.92%
EBITDA Growth %-0.73%-0.29%-27.44%0.38%0.1%
D&A (Non-Cash Add-back)1.6M4.04M5.19M4.23M10.11M9.31M
EBIT-14.97M-4.33M-8.91M-111.69M-91.45M-82.26M
Net Interest Income+-170K-2.4M-2.31M2.68M6.42M5.67M
Interest Income0002.68M6.42M5.67M
Interest Expense170K2.4M2.31M000
Other Income/Expense-492K-2.9M-8.32M23.46M719K15.49M
Pretax Income+-15.14M-10.52M-18.11M-111.58M-90.73M-66.78M
Pretax Margin %-0.63%-0.22%-0.14%-1.61%-1.3%-0.84%
Income Tax+100K-803K386K327K819K1.07M
Effective Tax Rate %1.01%0.92%1.02%1%0.99%0.99%
Net Income+-15.24M-9.71M-18.5M-111.86M-90.22M-66.33M
Net Margin %-0.63%-0.2%-0.14%-1.61%-1.29%-0.84%
Net Income Growth %-0.36%-0.9%-5.05%0.19%0.26%
Net Income (Continuing)-15.24M-9.71M-18.5M-111.91M-91.55M-67.84M
Discontinued Operations000000
Minority Interest0006.07M4.91M3.16M
EPS (Diluted)+-4.42-3.42-5.11-11.98-7.80-5.43
EPS Growth %-0.23%-0.49%-1.34%0.35%0.3%
EPS (Basic)-4.42-3.42-5.11-11.66-7.80-5.43
Diluted Shares Outstanding3.45M3.45M3.62M9.67M11.56M12.21M
Basic Shares Outstanding3.45M3.45M3.62M9.59M11.56M12.21M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+32.93M91.35M88.08M206.89M163.1M119.17M
Cash & Short-Term Investments28.07M40.58M74.78M193.14M152.42M106.21M
Cash Only27.94M40.58M74.78M193.14M144.72M105.14M
Short-Term Investments125K0007.69M1.07M
Accounts Receivable1.76M5.74M6.53M3.54M4.07M7.78M
Days Sales Outstanding26.7943.8818.6218.6421.2635.78
Inventory000000
Days Inventory Outstanding------
Other Current Assets1.36M42.33M3.61M4.01M3.25M1.7M
Total Non-Current Assets+85.34M167.15M169.81M156.84M147.63M144.34M
Property, Plant & Equipment6.56M9.88M8.38M6.07M9.5M8.03M
Fixed Asset Turnover3.66x4.83x15.28x11.44x7.35x9.88x
Goodwill43.87M121M120.95M133.89M120.95M120.95M
Intangible Assets8.96M20.99M19.52M7.64M8.97M5.51M
Long-Term Investments0007.37M00
Other Non-Current Assets25.95M15.28M20.97M9.25M8.21M9.86M
Total Assets+118.27M258.5M257.89M363.73M310.73M263.51M
Asset Turnover0.20x0.18x0.50x0.19x0.22x0.30x
Asset Growth %-1.19%-0%0.41%-0.15%-0.15%
Total Current Liabilities+28.53M68.38M38.02M26.39M24.21M25.14M
Accounts Payable3.03M2.61M1.92M2.8M1.83M1.94M
Days Payables Outstanding--230.982.11K1.55K6.23
Short-Term Debt8.34M2.5M0000
Deferred Revenue (Current)000000
Other Current Liabilities8.8M45.92M25.23M5.12M15.22M3.67M
Current Ratio1.15x1.34x2.32x7.84x6.74x4.74x
Quick Ratio1.15x1.34x2.32x7.84x6.74x4.74x
Cash Conversion Cycle------
Total Non-Current Liabilities+52.31M40.77M26.46M11.88M18.1M11.62M
Long-Term Debt21.65M16.43M13.45M05.59M7.41M
Capital Lease Obligations4.88M8.82M5.16M3.54M2.71M3.69M
Deferred Tax Liabilities000000
Other Non-Current Liabilities25.77M15.52M7.84M8.34M9.8M514K
Total Liabilities80.83M109.15M64.48M38.27M42.31M36.76M
Total Debt+36.36M31.29M23.98M7.44M10.82M14.57M
Net Debt8.42M-9.29M-50.8M-185.7M-133.91M-90.57M
Debt / Equity0.97x0.21x0.12x0.02x0.04x0.06x
Debt / EBITDA------
Net Debt / EBITDA------
Interest Coverage-86.15x-3.17x-4.24x---
Total Equity+37.44M149.35M193.42M325.46M268.42M226.74M
Equity Growth %-2.99%0.3%0.68%-0.18%-0.16%
Book Value per Share10.8543.2953.4333.6723.2218.57
Total Shareholders' Equity37.44M149.35M193.42M319.39M263.51M223.58M
Common Stock00018K18K19K
Retained Earnings-50.35M-60.06M-78.56M-190.42M-280.64M-346.97M
Treasury Stock0000-625K-625K
Accumulated OCI000693K911K572K
Minority Interest0006.07M4.91M3.16M

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+1.79M-2.53M10.9M-68.81M-41.46M-40.53M
Operating CF Margin %0.07%-0.05%0.09%-0.99%-0.59%-0.51%
Operating CF Growth %--2.41%5.31%-7.31%0.4%0.02%
Net Income-15.24M-9.71M-18.5M-111.91M-91.55M-67.84M
Depreciation & Amortization1.6M4.04M8.19M10.03M10.11M9.31M
Stock-Based Compensation7.29M4.91M12.23M57.92M34.33M30.49M
Deferred Taxes000000
Other Non-Cash Items1.64M1.18M6.29M-10.31M9.25M-8.14M
Working Capital Changes6.5M-2.94M2.68M-14.54M-3.6M-4.35M
Change in Receivables1.61M-3.39M382K1.4M-792K-877K
Change in Inventory000000
Change in Payables1.52M-1.68M-692K904K-1.22M284K
Cash from Investing+-45.83M-23.37M-3.26M-6.65M-8.16M5.47M
Capital Expenditures-218K-13K-3.26M-220K-527K-792K
CapEx % of Revenue0.01%0%0.03%0%0.01%0.01%
Acquisitions------
Investments------
Other Investing-743K-4.15M0-6.43M06.26M
Cash from Financing+40.1M39.38M26.58M192.86M57K-3.89M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing71K-25K-3.36M-15.64M57K-4.42M
Net Change in Cash------
Free Cash Flow+1.13M-3.69M7.64M-75.46M-41.98M-41.33M
FCF Margin %0.05%-0.08%0.06%-1.09%-0.6%-0.52%
FCF Growth %--4.27%3.07%-10.87%0.44%0.02%
FCF per Share0.33-1.072.11-7.81-3.63-3.38
FCF Conversion (FCF/Net Income)-0.12x0.26x-0.59x0.62x0.46x0.61x
Interest Paid160K425K2.12M000
Taxes Paid0000145K913K

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-40.71%-10.4%-10.79%-43.12%-30.38%-26.79%
Return on Invested Capital (ROIC)-23.95%-6.15%-5.19%-71.73%-50.01%-45.59%
Gross Margin100%100%97.63%99.3%99.38%-43.28%
Net Margin-63.36%-20.34%-14.45%-161.22%-129.22%-83.62%
Debt / Equity0.97x0.21x0.12x0.02x0.04x0.06x
Interest Coverage-86.15x-3.17x-4.24x---
FCF Conversion-0.12x0.26x-0.59x0.62x0.46x0.61x
Revenue Growth-98.58%168.15%-45.82%0.63%13.62%

Revenue by Segment

202220232024
Custodial Administration Fees28.72M44.03M41.79M
Custodial Administration Fees Growth-53.32%-5.09%
Marketplace-25.79M37.54M
Marketplace Growth--45.56%
Placement Fees40.66M--
Placement Fees Growth---

Revenue by Geography

202220232024
Non-US6.9M4.7M5.3M
Non-US Growth--31.88%12.77%

Frequently Asked Questions

Growth & Financials

Forge Global Holdings, Inc. (FRGE) reported $92.9M in revenue for fiscal year 2024. This represents a 286% increase from $24.0M in 2019.

Forge Global Holdings, Inc. (FRGE) grew revenue by 13.6% over the past year. This is steady growth.

Forge Global Holdings, Inc. (FRGE) reported a net loss of $62.6M for fiscal year 2024.

Dividend & Returns

Forge Global Holdings, Inc. (FRGE) has a return on equity (ROE) of -26.8%. Negative ROE indicates the company is unprofitable.

Forge Global Holdings, Inc. (FRGE) had negative free cash flow of $40.3M in fiscal year 2024, likely due to heavy capital investments.

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