Forge Global Holdings, Inc. (FRGE) Financial Ratios
6 years of historical data (2019–2024) · Technology · Software - Application
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: 69.89
30Y Low69.9·High69.9
P/B Ratio
↓
2.42
↑+49% vs avg
5yr avg: 1.63
30Y Low0.8·High2.8
ROE
↓
-26.8%
-10% vs avg
5yr avg: -24.3%
30Y Low-43%·High-10%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FRGE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Forge Global Holdings, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Market Cap | $549M | $170M | $595M | $251M | $534M | — | — |
| Enterprise Value | $459M | $80M | $461M | $65M | $484M | — | — |
| P/E Ratio → | -8.29 | — | — | — | — | — | — |
| P/S Ratio | 6.93 | 2.15 | 8.52 | 3.62 | 4.17 | — | — |
| P/B Ratio | 2.42 | 0.75 | 2.22 | 0.77 | 2.76 | — | — |
| P/FCF | — | — | — | — | 69.89 | — | — |
| P/OCF | — | — | — | — | 49.01 | — | — |
P/E links to full P/E history page with 30-year chart
FRGE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.01 | 6.60 | 0.94 | 3.78 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | 63.25 | — | — |
FRGE Profitability
Margins and return-on-capital ratios measuring operating efficiency
Forge Global Holdings, Inc. earns an operating margin of -103.7%. Operating margins have expanded from -194.6% to -103.7% over the past 3 years, signaling improving operational efficiency. A negative ROE of -26.8% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Gross Margin | -43.3% | -43.3% | 99.4% | 99.3% | 97.6% | 100.0% | 100.0% |
| Operating Margin | -103.7% | -103.7% | -131.0% | -194.6% | -7.6% | -15.9% | -60.9% |
| Net Profit Margin | -83.6% | -83.6% | -129.2% | -161.2% | -14.4% | -20.3% | -63.4% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| ROE | -26.8% | -26.8% | -30.4% | -43.1% | -10.8% | -10.4% | -40.7% |
| ROA | -23.1% | -23.1% | -26.8% | -36.0% | -7.2% | -5.2% | -12.9% |
| ROIC | -45.6% | -45.6% | -50.0% | -71.7% | -5.2% | -6.1% | -24.0% |
| ROCE | -31.3% | -31.3% | -29.3% | -48.5% | -4.8% | -5.4% | -16.3% |
FRGE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $105M exceeds total debt of $15M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.04 | 0.02 | 0.12 | 0.21 | 0.97 |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.40 | -0.50 | -0.57 | -0.26 | -0.06 | 0.22 |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | -6.65 | — | 7.47 |
| Interest Coverage | — | — | — | — | -4.24 | -3.17 | -86.15 |
Net cash position: cash ($105M) exceeds total debt ($15M)
FRGE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Forge Global Holdings, Inc.'s current ratio of 4.74x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 7.84x to 4.74x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 4.74 | 4.74 | 6.74 | 7.84 | 2.32 | 1.34 | 1.15 |
| Quick Ratio | 4.74 | 4.74 | 6.74 | 7.84 | 2.32 | 1.34 | 1.15 |
| Cash Ratio | 4.22 | 4.22 | 6.30 | 7.32 | 1.97 | 0.59 | 0.98 |
| Asset Turnover | — | 0.30 | 0.22 | 0.19 | 0.50 | 0.18 | 0.20 |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 35.78 | 21.26 | 18.64 | 18.62 | 43.88 | 26.79 |
FRGE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Forge Global Holdings, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | 1.4% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $12M | $12M | $10M | $4M | $3M | $3M |
Peer Comparison
Compare FRGE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FRGEYou | $549M | -8.3 | — | — | -43.3% | -103.7% | -26.8% | -45.6% | — |
 ICE | $88B | 27.1 | 16.7 | 20.6 | 61.9% | 38.7% | 11.7% | 7.5% | 3.1 |
 CBOE | $35B | 32.5 | 21.4 | 30.8 | 48.9% | 32.1% | 23.4% | 17.9% | 1.0 |
 MKTX | $5B | 22.9 | 12.0 | 14.5 | 69.9% | 41.2% | 19.4% | 18.1% | 0.7 |
 TW | $24B | 29.2 | 19.8 | 20.9 | 67.3% | 41.2% | 12.0% | 9.1% | 0.3 |
 LPRO | $192M | -45.4 | 12.2 | — | 75.5% | 6.4% | -5.5% | 2.3% | 10.5 |
 KORE | $156M | -1.2 | — | — | 55.9% | -35.9% | — | -30.4% | — |
 SCHW | $159B | 29.9 | 17.8 | 77.6 | 75.4% | 29.6% | 13.3% | 6.0% | 4.9 |
 MS | $303B | 23.9 | 25.8 | — | 55.6% | 17.1% | 13.0% | 2.9% | 15.8 |
 GS | $288B | 22.8 | 34.8 | — | 41.1% | 14.5% | 12.0% | 1.9% | 29.7 |
 NTRS | $30B | 18.3 | -4.7 | 5.4 | 56.5% | 16.3% | 13.5% | 6.0% | 5.1 |
| Technology Median | — | 27.7 | 17.5 | 19.2 | 48.5% | -0.6% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying FRGE stock.
What is Forge Global Holdings, Inc.'s P/E ratio?
Forge Global Holdings, Inc.'s current P/E ratio is -8.3x. This places it at the 50th percentile of its historical range.
What is Forge Global Holdings, Inc.'s ROE?
Forge Global Holdings, Inc.'s return on equity (ROE) is -26.8%. The historical average is -27.0%.
Is FRGE stock overvalued?
Based on historical data, Forge Global Holdings, Inc. is trading at a P/E of -8.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Forge Global Holdings, Inc.'s profit margins?
Forge Global Holdings, Inc. has -43.3% gross margin and -103.7% operating margin.