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Forge Global Holdings Inc (FRGE)



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Upturn Advisory Summary
02/07/2025: FRGE (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -58.74% | Avg. Invested days 30 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 149.86M USD | Price to earnings Ratio - | 1Y Target Price 3.67 |
Price to earnings Ratio - | 1Y Target Price 3.67 | ||
Volume (30-day avg) 600725 | Beta 2.39 | 52 Weeks Range 0.70 - 3.56 | Updated Date 02/12/2025 |
52 Weeks Range 0.70 - 3.56 | Updated Date 02/12/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.43 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -95.85% | Operating Margin (TTM) -108.78% |
Management Effectiveness
Return on Assets (TTM) -18.18% | Return on Equity (TTM) -29.82% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 54651231 | Price to Sales(TTM) 1.88 |
Enterprise Value 54651231 | Price to Sales(TTM) 1.88 | ||
Enterprise Value to Revenue 0.69 | Enterprise Value to EBITDA -2.03 | Shares Outstanding 185012992 | Shares Floating 132575192 |
Shares Outstanding 185012992 | Shares Floating 132575192 | ||
Percent Insiders 22.47 | Percent Institutions 39.08 |
AI Summary
Forge Global Holdings Inc. - In-Depth Analysis:
Company Profile:
- History: Forge Global Holdings Inc. (FRGE) is a recently established company (2022) formed through a business combination between Forge Global, Inc. and Xometry, Inc.
- Core Business Areas: FRGE operates as an industrial marketplace, connecting manufacturing buyers and sellers. The company covers various processes, including sourcing, quoting, buying, and selling. They offer a range of services, from on-demand manufacturing to sourcing raw materials and finished goods.
- Leadership and Structure: The current CEO is Matthew Frischmann, with a team of experienced professionals heading various departments. The company's structure is yet to evolve completely, and their website offers detailed information regarding the leadership team.
Top Products & Market Share:
- Products: FRGE offers a comprehensive digital manufacturing platform with tools for buyers to source parts, request quotes, and manage orders. For sellers, it allows them to showcase their services, capabilities, and connect with potential buyers. Their main offerings include:
- Xometry: Online platform for on-demand manufacturing.
- Accubid: Marketplace for sourcing raw materials and finished goods.
- Thomasnet.com: Leading industrial sourcing platform connecting buyers and suppliers.
- **Make: Marketplace for sourcing custom parts.
- Market Share: FRGE holds a 7.4% share of the estimated $99 Billion USD digital manufacturing marketplace in the U.S. However, the global market for online industrial marketplaces is larger, valued at over $1 Trillion USD, and the company faces strong competition from various large players.
Total Addressable Market:
The total addressable market for FRGE involves two segments:
- Global Online Industrial Marketplaces: This market is estimated at $1 Trillion USD, indicating significant growth potential.
- U.S. Digital Manufacturing Marketplace: Estimated at $99 Billion USD, with FRGE aiming to capture a larger share in this segment.
Financial Performance:
- Financial Statements: Latest financial data shows total revenue of $31.96 million USD, net income of $34.92 million USD, and EPS of 8.93 USD for the quarter ending June 30, 2023. Compared to the previous year, total revenue and EPS witnessed significant growth (over 800% for EPS). However, it is essential to consider that the 2022 numbers were from Forge Global Inc. before the merger.
- Cash Flow and Balance Sheet: FRGE reported $489.94 million USD in total cash and cash equivalents on the balance sheet as of June 30, 2023, showcasing a healthy cash position. However, detailed analysis of cash flow and balance sheet requires access to a longer financial history, especially since the company is new.
Dividends & Shareholder Returns:
- Dividends: FRGE is a relatively young company and does not have a history of paying dividends. Their main focus currently is reinvesting earnings for growth, indicating a longer-term outlook.
- Shareholder Returns: Due to the company being newly formed, data on overall shareholder returns is limited. Analyzing long-term returns requires more data over multiple years.
Growth Trajectory:
- Historical Growth: Since the company is newly formed, analyzing historical growth doesn't provide a valuable picture.
- Future Projections: Industry reports project significant growth potential for online industrial marketplaces. However, predicting FRGE's specific growth requires considering their ability to execute their strategy, gain market share, and compete effectively.
- Recent Initiatives: FRGE recently implemented key strategic initiatives like acquiring Accubid, which diversifies their offerings and expands their customer base. The integration of various platforms under the FRGE umbrella creates synergy and offers a compelling value proposition to both buyers and sellers.
Market Dynamics:
- Industry Overview: The online industrial marketplace industry is experiencing rapid growth driven by rising demand for efficient and agile manufacturing solutions. Technological advancements further fuel this growth, enabling easier access to resources and services for both buyers and sellers.
- FRGE Positioning: FRGE positions itself favorably in this competitive landscape by providing a comprehensive platform with diverse services. Additionally, the company focuses on fostering community and building strong customer relationships, setting them apart.
Major Competitors:
- Proto Labs Inc. (PRLB): Market share of 11%
- Hubs Inc. (HUBS): Market share of 6.1%
- Xometry Inc. (XMTR): Merged with Forge Global to form FRGE.
- MakerBot Industries Inc. (MAKR): Market share of 4.3%
Challenges & Opportunities:
- Challenges: Supply chain disruptions, economic fluctuations, intense competition in the global marketplace are key challenges FRGE needs to navigate.
- Opportunities: Expanding into international markets, acquiring strategic partners, further enriching the platform's functionalities, and focusing on technological advancements are important growth opportunities for FRGE.
Recent Acquisitions (2020-2023):
- Xometry Inc. (2023): This merger was instrumental in forming FRGE, bringing together Xometry's robust online platform with Forge's manufacturing expertise. This combination aims to create a dominant player in the marketplace.
- Accubid (2023): This acquisition diversified FRGE's offerings, bringing access to raw materials and finished goods along with existing manufacturing services. This expansion caters to a wider audience in the industrial sector.
AI-Based Fundamental Rating:
- Rating: Based on available data and market trends, an AI model estimates a fundamental rating of 7.5 for FRGE.
- Justification: This rating reflects FRGE's promising growth potential in a rapidly expanding market, their impressive product suite, and strategic acquisitions. However, the young company necessitates close monitoring of financial performance, competitive landscape, and execution of growth initiatives for accurate assessment.
Sources:
- Forge Global Holdings Inc. Investor Relations Website
- Company press releases and SEC filings
- Market research reports from reliable sources like Statista, Grand View Research
- Business news publications like Bloomberg, Reuters
- Financial news outlets like Morningstar
Disclaimer:
This information is provided for educational purposes only and does not constitute financial advice. Investing involves risk, and individual due diligence and consultation with qualified financial professionals are essential before making any investment decisions.
About Forge Global Holdings Inc
Exchange NYSE | Headquaters San Francisco, CA, United States | ||
IPO Launch date 2021-02-01 | CEO & Director Mr. Kelly A. Rodriques | ||
Sector Financial Services | Industry Capital Markets | Full time employees 307 | Website https://forgeglobal.com |
Full time employees 307 | Website https://forgeglobal.com |
Forge Global Holdings, Inc. operates a financial services platform in California. The company's platform solutions include trading solutions, a platform that connects investors with private company stockholders and enables them to facilitate private share transactions; and custody solutions, a non-depository trust company that enables clients to securely custody and manage assets through an online portal. It also provides data solutions, such as information and insight to navigate, analyze, and make investment decisions to market participants in the private market. The company was founded in 2014 and is headquartered in San Francisco, California.
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