Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -62.9%. (2012–2025 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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $37M | $37M | $23M | $16M | $23M | $20M | $24M | $33M | $25M | $43M | $47M |
| Enterprise Value | $25M | $25M | $19M | $19M | $28M | $18M | $30M | $40M | $-5939395 | $23M | $7M |
| P/E Ratio → | -0.18 | — | — | — | — | — | — | — | — | 145.00 | 4239.13 |
| P/S Ratio | — | — | 1.33 | 0.94 | 1.83 | 4.73 | — | 6.04 | 20.57 | 1.13 | 1.46 |
| P/B Ratio | 0.09 | 0.26 | 0.31 | 0.43 | 0.49 | 0.37 | 0.90 | 1.29 | 0.40 | 0.92 | 1.02 |
| P/FCF | — | — | — | 11.31 | — | 38.28 | — | 77.44 | 1.00 | 5.77 | 14.34 |
| P/OCF | — | — | — | 10.13 | — | 9.61 | — | 15.11 | 1.00 | 5.75 | 13.99 |
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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | 1.09 | 1.14 | 2.23 | 4.38 | — | 7.21 | -4.92 | 0.59 | 0.21 |
| EV / EBITDA | — | — | — | — | 25.61 | — | — | 12.69 | — | 14.41 | 36.76 |
| EV / EBIT | — | — | — | — | 25.61 | — | — | — | — | 15.11 | 57.46 |
| EV / FCF | — | — | — | 13.76 | — | 35.46 | — | 92.31 | -0.24 | 3.01 | 2.08 |
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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 112.4% | 112.4% | -47.0% | -25.6% | 14.6% | -38.5% | 100.0% | 100.0% | -3436.9% | 29.3% | 22.9% |
| Operating Margin | 2791.3% | 2791.3% | -143.4% | -95.3% | 8.7% | -176.8% | 132.7% | 56.8% | -131.0% | 3.9% | 0.4% |
| Net Profit Margin | 2920.5% | 2920.5% | -6.7% | -82.4% | 8.7% | -205.3% | 128.9% | 5.7% | 66.6% | 0.8% | 0.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -62.9% | -62.9% | -2.1% | -33.6% | 2.2% | -21.5% | -85.1% | 0.7% | 1.5% | 0.6% | 0.0% |
| ROA | -50.1% | -50.1% | -1.3% | -21.0% | 1.5% | -13.0% | -39.7% | 0.3% | 0.6% | 0.3% | 0.0% |
| ROIC | -48.6% | -48.6% | -33.7% | -26.5% | 1.6% | -13.2% | -53.7% | 7.3% | -4.1% | 7.0% | 2.2% |
| ROCE | -55.0% | -55.0% | -41.4% | -32.0% | 1.8% | -14.5% | -58.0% | 3.5% | -1.3% | 1.5% | 0.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.05 | 0.26 | 0.19 | 0.14 | 0.36 | 0.44 | 0.00 | 0.06 | 0.06 |
| Debt / EBITDA | — | — | — | — | 8.06 | — | — | 3.63 | — | 1.81 | 14.56 |
| Net Debt / Equity | — | -0.08 | -0.05 | 0.09 | 0.11 | -0.03 | 0.20 | 0.25 | -0.49 | -0.44 | -0.87 |
| Net Debt / EBITDA | — | — | — | — | 4.58 | — | — | 2.04 | — | -13.25 | -216.87 |
| Debt / FCF | — | — | — | 2.45 | — | -2.82 | — | 14.87 | -1.24 | -2.77 | -12.26 |
| Interest Coverage | -511.93 | -511.93 | -62.88 | -24.59 | — | — | — | — | — | — | — |
Net cash position: cash ($13M) exceeds total debt ($2M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.97 | 6.97 | 1.49 | 1.76 | 1.27 | 1.54 | 1.10 | 1.33 | 4.93 | 544.11 | 38.63 |
| Quick Ratio | 6.97 | 6.97 | 1.45 | 1.68 | 1.04 | 1.31 | 0.96 | 1.20 | 4.57 | 468.78 | 33.14 |
| Cash Ratio | 6.97 | 6.97 | 0.40 | 0.93 | 0.27 | 0.62 | 0.27 | 0.29 | 3.30 | 374.88 | 36.18 |
| Asset Turnover | — | -0.01 | 0.16 | 0.28 | 0.17 | 0.05 | -0.31 | 0.10 | 0.01 | 0.33 | 0.36 |
| 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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 14.5% | 4.9% | 6.1% | — | 7.8% | — | 5.8% | — | 5.4% | 0.6% | 0.5% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | 0.7% | 0.0% |
| FCF Yield | — | — | — | 8.8% | — | 2.6% | — | 1.3% | 99.6% | 17.3% | 7.0% |
| Buyback Yield | 71.3% | 71.3% | 0.0% | 0.0% | 0.0% | 0.4% | 10.5% | 0.0% | 13.3% | 0.0% | 2.5% |
| Total Shareholder Yield | 85.8% | 76.1% | 6.1% | 0.0% | 7.8% | 0.4% | 16.2% | 0.0% | 18.7% | 0.6% | 3.0% |
| Shares Outstanding | — | $3M | $211200 | $80000 | $64241 | $41702 | $45970 | $48148 | $49442 | $47761 | $48384 |
Investment Portfolio Volatility
Based on reported figures, FGNX trades at a P/B of 0.11, which, according to recent financial statements, suggests the market is pricing the firm as a distressed asset rather than a viable insurance entity with a sustainable long-term return on equity profile.
The extreme discount to book value indicates that investors are heavily discounting the quality of the firm's assets, likely due to the high concentration in volatile digital assets. This valuation level implies that the market expects further erosion of the capital base rather than a recovery in underwriting or investment performance.
As reported in quarterly filings, the combined ratio has exhibited extreme volatility, including an anomalous -146.7% in 2025Q3, which suggests that the firm's core underwriting operations are currently failing to generate predictable or sustainable profit margins for the broader enterprise.
The wild fluctuations in the combined ratio suggest that the insurance segment is not functioning as a stable source of float. Instead, the underwriting results appear to be heavily influenced by non-recurring adjustments or accounting volatility, making it difficult to assess the true economic profitability of the insurance business.
According to the provided quarterly data, the company's ROE has frequently turned negative, reaching -33.0% in 2026Q1, which indicates that the firm's investment-heavy strategy is currently failing to generate sufficient returns to offset the costs of its insurance and merchant banking operations.
The lack of a consistent positive ROE suggests that the firm's capital is being deployed into high-risk ventures that are not yielding the expected returns. Investors should monitor whether the firm can achieve a positive ROE independent of mark-to-market fluctuations in its cryptocurrency and merchant banking holdings.
As indicated by the reported financial statements, the firm maintains a low debt-to-equity ratio of 0.01, yet the rapid contraction of the equity base suggests that the company's capacity to support underwriting leverage is becoming increasingly constrained by ongoing operational losses.
While the low debt levels might appear conservative, the shrinking equity base limits the firm's ability to absorb future underwriting shocks. The current leverage profile appears to be a symptom of a shrinking business rather than a deliberate strategy to maintain a fortress balance sheet.
The combined ratio is the most commonly misapplied metric for FGNX, as it obscures the impact of investment-linked volatility and reserve adjustments that are not representative of standard P&C insurance underwriting performance, according to recent financial analysis of the firm's unique business model.
Using the combined ratio to evaluate FGNX ignores the fact that the firm's insurance operations are inextricably linked to its speculative investment portfolio. Analysts should instead focus on 'Core Operating Earnings' that strip out mark-to-market volatility to determine if the insurance and fee businesses are viable on a standalone basis.
Includes 30+ ratios · 14 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FGNX stock.
FG Nexus Inc.'s current P/E ratio is -0.2x. The historical average is 80.4x.
FG Nexus Inc.'s return on equity (ROE) is -62.9%. The historical average is -14.5%.
Based on historical data, FG Nexus Inc. is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.
FG Nexus Inc.'s current dividend yield is 14.48%.
FG Nexus Inc. has 112.4% gross margin and 2791.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.