Fundamental Global (FGNX)
NASDAQ:FGNX
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Fundamental Global
(NASDAQ:FGNX)
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Rating:47Neutral
Price Target:
$6.00
▲(86.92% Upside)
Action:ReiteratedDate:03/27/26
The score is held down primarily by very weak TTM fundamentals (large net loss, negative/volatile revenue, and renewed cash burn) and bearish technical signals (below major moving averages with negative MACD and weak RSI). A strong low-debt balance sheet and positive corporate actions (notably buybacks and preferred dividend continuity) provide some support but are secondary to the current operating and price-trend weakness.
Positive Factors
Low leverage / strong balance sheet
The company’s very low debt burden relative to a large equity base supports solvency and strategic optionality. With minimal leverage, FG Nexus can fund operations, defend against volatility, pursue selective investments or M&A, and sustain capital returns without immediate refinancing pressure.
Negative Factors
Large TTM net loss and negative revenue
Sustained large losses and negative top-line undermine the firm’s ability to convert its sizable capital base into operating profits. Persistent deficits erode retained capital, constrain reinvestment, and raise the bar for management to restore recurring, sustainable earnings over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
The company’s very low debt burden relative to a large equity base supports solvency and strategic optionality. With minimal leverage, FG Nexus can fund operations, defend against volatility, pursue selective investments or M&A, and sustain capital returns without immediate refinancing pressure.
Read all positive factors
Fundamental Global (FGNX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.52M
Dividend YieldN/A
Average Volume (3M)899.24K
Price to Earnings (P/E)―
Beta (1Y)-0.18
Revenue Growth-69.35%
EPS Growth-94.65%
CountryUS
Employees130
SectorFinancial
Sector Strength70
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)N/A
Shares Outstanding6,431,819
10 Day Avg. Volume1,162,182
30 Day Avg. Volume899,239
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.26
Price to Sales (P/S)-15.63
P/FCF Ratio-5.87
Enterprise Value/Market Cap1.01
Enterprise Value/Revenue7.27
Enterprise Value/Gross Profit-301.95
Enterprise Value/Ebitda-0.61
Forecast
1Y Price Target
$10.00Price Target Upside211.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Fundamental Global Business Overview & Revenue Model
Company Description
FG Nexus, Inc. engages in the provision of reinsurance, asset management and merchant banking services. The company was founded in October 2012 and is headquartered in Charlotte, NC....
How the Company Makes Money
null...
Fundamental Global Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
63
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | -2.35M | 17.35M | 17.09M | 12.48M | 4.15M |
| Gross Profit | -2.64M | -8.14M | -4.38M | 1.82M | -1.60M |
| EBITDA | -67.28M | -21.81M | -11.94M | 1.09M | -7.33M |
| Net Income | -68.51M | -1.16M | -14.08M | 1.09M | -8.51M |
Balance Sheet | |||||
| Total Assets | 163.84M | 109.47M | 62.14M | 71.75M | 75.81M |
| Cash, Cash Equivalents and Short-Term Investments | 13.39M | 13.56M | 16.55M | 3.79M | 8.73M |
| Total Debt | 1.92M | 3.74M | 9.46M | 8.77M | 7.29M |
| Total Liabilities | 20.35M | 35.27M | 25.14M | 25.05M | 23.53M |
| Stockholders Equity | 143.49M | 74.20M | 35.15M | 46.70M | 52.28M |
Cash Flow | |||||
| Free Cash Flow | -6.25M | -4.09M | 1.42M | -11.10M | 512.00K |
| Operating Cash Flow | -6.25M | -4.05M | 1.58M | -11.02M | 2.04M |
| Investing Cash Flow | -122.56M | 13.24M | 92.00K | -3.45M | -1.15M |
| Financing Cash Flow | 135.61M | -7.38M | 1.24M | 1.94M | 3.25M |
Fundamental Global Technical Analysis
Neutral
3.21
Price Trends
6.84
Negative
10.81
Negative
34.54
Negative
Market Momentum
-0.31
Negative
54.31
Neutral
96.63
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FGNX, the sentiment is Neutral. The current price of 3.21 is below the 20-day moving average (MA) of 5.73, below the 50-day MA of 6.84, and below the 200-day MA of 34.54, indicating a neutral trend. The MACD of -0.31 indicates Negative momentum. The RSI at 54.31 is Neutral, neither overbought nor oversold. The STOCH value of 96.63 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FGNX.
Fundamental Global Risk Analysis
Fundamental Global disclosed 25 risk factors in its most recent earnings report. Fundamental Global reported the most risks in the "Ability to Sell" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fundamental Global Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $1.11B | 12.32 | 18.79% | 4.00% | -4.12% | ― | |
76 Outperform | $573.80M | 0.75 | 11.28% | 2.12% | 44.00% | 56.57% | |
75 Outperform | $730.37M | ― | 66.01% | ― | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $1.50B | 52.94 | -30.35% | ― | 17.56% | -3.08% | |
56 Neutral | $1.82B | 4.16 | 9.46% | 2.55% | 2.48% | 138.33% | |
47 Neutral | $40.52M | -0.21 | -52.89% | ― | -69.35% | -94.65% |
* Financial Sector Average
FGNX
Fundamental Global
6.74
-79.26
-92.16%
IGIC
International General Insurance Holdings
25.31
3.55
16.33%
GSHD
GooseHead Insurance
40.86
-62.46
-60.45%
WDH
Waterdrop
1.56
0.35
29.35%
FIHL
Fidelis Insurance Holdings Ltd.
20.91
4.41
26.72%
YB
Yuanbao, Inc. Unsponsored ADR
15.64
1.08
7.42%
Fundamental Global Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Fundamental Global Finalizes Reinsurance Division Exit Terms
Neutral
Mar 23, 2026
On January 2, 2025, FG Nexus Inc. completed the initial closing of a transaction under which FG Reinsurance Holdings, LLC sold 100% of the equity of its FG Reinsurance Division, consisting of FG Reinsurance Ltd. and FG Solutions Ltd., to Devondale...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
Fundamental Global Lowers Quorum Requirement in Bylaw Amendment
Neutral
Feb 27, 2026
On February 24, 2026, FG Nexus Inc.’s board of directors approved an amendment to the company’s bylaws to lower and clarify the quorum requirement for stockholder meetings to one-third of the voting power, including votes present in pe...
Dividends
Fundamental Global Declares Quarterly Preferred Stock Dividend
Positive
Feb 19, 2026
On February 17, 2026, FG Nexus Inc. announced it had declared a quarterly cash dividend of $0.50 per share on its 8.00% Cumulative Preferred Stock, Series A, for the dividend period from December 15, 2025, through March 14, 2026. The dividend is s...
Regulatory Filings and ComplianceStock Split
Fundamental Global Implements Reverse Stock Split and Share Reduction
Neutral
Feb 13, 2026
On February 10, 2026, FG Nexus Inc. filed an amendment in Nevada to implement a 1-for-5 reverse stock split of its common stock, effective at 9:30 a.m. Eastern Time on February 13, 2026, and simultaneously reduced its authorized common shares from...
Business Operations and StrategyStock Split
Fundamental Global Announces 1-for-5 Reverse Stock Split
Neutral
Feb 10, 2026
On February 9, 2026, FG Nexus Inc. announced that its board had approved a 1-for-5 reverse stock split of its outstanding common stock, to take effect at 9:30 a.m. Eastern Time on February 13, 2026. The company’s shares will continue trading...
Business Operations and Strategy
Fundamental Global’s SPAC Sponsor Unit Earns Top Performance Honors
Positive
Jan 30, 2026
On January 29, 2026, FG Nexus Inc. announced that it had been named the top-performing SPAC sponsor by median returns and the second-ranked sponsor by average returns in an industry study by EarlyBirdCapital, underscoring its strong performance re...
Business Operations and StrategyStock BuybackFinancial Disclosures
FG Nexus Highlights Share Buybacks and Digital Asset Position
Positive
Jan 21, 2026
On January 21, 2026, FG Nexus Inc. reported an update on its share repurchase programs and digital asset position, disclosing that through January 20, 2026 it had bought back approximately 9.9 million common shares at an average price of about $3....
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Fundamental Global Plans Second Closing in Reinsurance Divestiture
Neutral
Jan 8, 2026
On January 2, 2025, FG Nexus Inc. completed the first closing of a previously disclosed transaction in which its subsidiary FG Reinsurance Holdings, LLC sold 100% of the equity of its FG Reinsurance Division—FG Reinsurance Ltd. and FG Soluti...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Fundamental Global Shareholders Elect Directors, Approve Executive Pay
Positive
Dec 31, 2025
FG Nexus Inc. successfully held its 2025 annual stockholders’ meeting on December 30, 2025, after two prior attempts on December 17 and December 19 failed to reach quorum. With 51.33% of the 42,215,225 eligible common shares represented, sha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.