Latest Ratios: P/E Ratio 71.0x · EV/EBITDA N/A · ROE 3.5%. (2021–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Market Cap | $102M | $81M | — | — | $90M | — |
| Enterprise Value | $102M | $81M | — | — | $89M | — |
| P/E Ratio → | 71.00 | 71.71 | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | 0.97 | 0.98 | — | — | 1.07 | — |
| P/FCF | 68.95 | 54.63 | — | — | 269.52 | — |
| P/OCF | 68.95 | 54.63 | — | — | 269.52 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — |
| EV / FCF | — | 54.30 | — | — | 267.94 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | 76.8% | 75.1% | — | — |
| Operating Margin | — | — | -144.3% | -126.1% | — | — |
| Net Profit Margin | — | — | -0.2% | -195.3% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | 3.5% | 3.5% | -1.2% | -36.1% | -0.3% | — |
| ROA | 3.4% | 3.4% | -15.2% | -37.6% | -0.1% | — |
| ROIC | -1.8% | -1.8% | -495.8% | -17.5% | -2.0% | — |
| ROCE | -2.4% | -2.4% | — | -27.4% | -1.3% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 0.03 | — | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.01 | — | 0.02 | -0.01 | — |
| Net Debt / EBITDA | — | — | — | — | — | 0.00 |
| Debt / FCF | — | -0.33 | — | — | -1.57 | — |
| Interest Coverage | — | — | — | -15.35 | — | — |
Net cash position: cash ($486900) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 3.00 | 3.00 | 0.98 | 0.02 | 1.09 | — |
| Quick Ratio | 3.00 | 3.00 | 0.98 | 0.02 | 1.09 | — |
| Cash Ratio | 2.50 | 2.50 | 0.27 | 0.01 | 0.76 | — |
| Asset Turnover | — | — | 63.58 | 47.69 | — | — |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | 1.4% | 1.4% | — | — | — | — |
| FCF Yield | 1.5% | 1.8% | — | — | 0.4% | — |
| Buyback Yield | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — |
| Shares Outstanding | — | $8M | $11M | $7M | $9M | $5M |
Post-merger integration execution
According to recent SEC filings, the company's P/E ratio of 72.86 appears significantly elevated relative to its historical shell-phase valuation, suggesting that current market pricing reflects speculative growth expectations rather than the underlying fundamental reality of the newly integrated iCoreConnect healthcare communications business model.
The current P/E multiple warrants caution as it likely incorporates optimistic projections that may not align with the company's recent history of negative net margins. Investors should monitor whether this valuation premium can be sustained as the entity moves past the initial post-merger volatility and begins to demonstrate consistent, recurring revenue streams.
Based on reported figures, the company's ROIC has consistently languished in negative territory, reaching -39.4% in 2024Q3, which indicates that the capital deployed during the merger process has yet to generate any meaningful economic return for shareholders compared to industry benchmarks.
The persistent decay in returns on invested capital suggests that the business is currently destroying value rather than compounding it. This trend warrants further investigation into whether the integration of iCoreConnect can eventually pivot the company toward positive capital efficiency or if the current cost structure will continue to suppress returns.
As reported in financial statements, the current ratio plummeted from 166.18 in 2025Q2 to 4.94 in 2026Q1, signaling a significant contraction in the company's short-term liquidity position as it navigates the operational demands of its new healthcare SaaS business model.
The rapid decline in the current ratio suggests that the company's ability to meet short-term obligations is becoming increasingly constrained. This trend appears to be a direct consequence of the high redemption levels experienced during the merger, which may force management to seek dilutive financing sooner than previously anticipated.
As indicated in historical data, the P/E ratio is the most commonly misapplied metric for this business model, as it obscures the massive distortions caused by stock-based compensation and the non-recurring nature of merger-related expenses that currently dominate the company's income statement.
Using P/E to value this entity is fundamentally flawed because it fails to account for the significant non-cash charges that mask the true cash-burn profile of the business. Analysts should instead focus on enterprise value to revenue or cash-burn metrics to better assess the company's viability during this critical transition phase.
Includes 30+ ratios · 5 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FGMC stock.
FG Merger Corp.'s current P/E ratio is 71.0x. The historical average is 71.7x.
FG Merger Corp.'s return on equity (ROE) is 3.5%. The historical average is -8.5%.
Based on historical data, FG Merger Corp. is trading at a P/E of 71.0x. Compare with industry peers and growth rates for a complete picture.