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Fundamental Global (FGNX)
NASDAQ:FGNX
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Fundamental Global (FGNX) AI Stock Analysis

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FGNX

Fundamental Global

(NASDAQ:FGNX)

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Neutral 48 (OpenAI - 4o)
Rating:48Neutral
Price Target:
$3.50
▼(-4.63% Downside)
Fundamental Global's overall stock score is primarily impacted by its challenging financial performance and bearish technical indicators. The company's declining revenues and profitability, coupled with negative cash flows, weigh heavily on the score. While the stock appears undervalued based on its P/E ratio, this is overshadowed by market concerns about its financial health. Technical analysis further supports a cautious outlook, with the stock trading below key moving averages and showing signs of being oversold.

Fundamental Global (FGNX) vs. SPDR S&P 500 ETF (SPY)

Fundamental Global Business Overview & Revenue Model

Company DescriptionFG 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 MoneyFundamental Global generates revenue primarily through management fees and performance-based incentives from its investment funds. The company charges a percentage of assets under management (AUM) as a management fee, which provides a steady income stream. Additionally, FGF earns performance fees when its investment returns exceed predefined benchmarks, aligning its interests with those of its investors. Key revenue streams also include dividends and capital gains from successful exits of portfolio companies, as well as advisory fees for consulting services provided to businesses within its investment scope. Strategic partnerships with other financial institutions and venture capital firms enhance FGF's capital-raising capabilities and broadens its investment opportunities, contributing significantly to its overall earnings.

Fundamental Global Financial Statement Overview

Summary
Fundamental Global exhibits a challenging financial position with declining revenues and profitability. The income statement shows significant volatility with a negative trend in profitability. The balance sheet is stable with low leverage, but cash flow analysis reveals negative operating and free cash flow, indicating cash generation issues.
Income Statement
The income statement shows significant volatility with a negative trend in profitability. The TTM period reports a gross profit margin of 50.9% and a net profit margin of -55.7%, indicating high expenses relative to revenue. Revenue has declined from $26.84M in 2023 to $11.64M in the TTM, a significant decrease, suggesting a challenging revenue environment. Additionally, both EBIT and EBITDA margins are negative, pointing to operational inefficiencies.
Balance Sheet
The balance sheet reflects a stable capital structure, with a debt-to-equity ratio of 0.05, indicating low leverage. The equity ratio stands at 63.9%, demonstrating a strong equity base relative to total assets. However, return on equity has been negative in the TTM, reflecting ongoing losses. Overall, the balance sheet is relatively stable, but profitability challenges persist.
Cash Flow
Cash flow analysis reveals negative operating cash flow and free cash flow in the TTM, suggesting cash generation issues. The free cash flow to net income ratio is negative due to both negative free cash flow and net income. Despite this, the company has managed to maintain positive investing cash flow, perhaps indicating strategic asset investments. However, the overall cash flow situation remains concerning.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue11.89M17.35M17.09M12.48M4.15M-17.42M
Gross Profit-6.88M-8.14M-4.38M1.82M-1.60M-17.42M
EBITDA-21.08M-21.81M-11.94M1.09M-7.33M-23.12M
Net Income4.77M-1.16M-14.08M1.09M-8.51M-22.46M
Balance Sheet
Total Assets92.86M109.47M62.14M49.48M75.81M34.70M
Cash, Cash Equivalents and Short-Term Investments11.08M7.79M6.00M3.01M15.54M12.13M
Total Debt3.25M3.74M9.46M8.54M6.71M8.21M
Total Liabilities23.52M35.27M25.14M12.18M6.82M455.00K
Stockholders Equity69.35M74.20M35.15M37.30M34.01M34.19M
Cash Flow
Free Cash Flow-3.79M-4.76M-8.00K-11.10M-14.42M-11.30M
Operating Cash Flow-3.75M-4.71M156.00K-11.02M-14.41M-11.28M
Investing Cash Flow17.96M13.15M-695.00K-3.45M10.04M-1.16M
Financing Cash Flow-7.73M-6.86M3.38M1.94M7.77M-3.94M

Fundamental Global Technical Analysis

Technical Analysis Sentiment
Negative
Last Price3.67
Price Trends
50DMA
8.85
Negative
100DMA
14.58
Negative
200DMA
16.70
Negative
Market Momentum
MACD
-1.54
Negative
RSI
30.68
Neutral
STOCH
12.77
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FGNX, the sentiment is Negative. The current price of 3.67 is below the 20-day moving average (MA) of 5.06, below the 50-day MA of 8.85, and below the 200-day MA of 16.70, indicating a bearish trend. The MACD of -1.54 indicates Negative momentum. The RSI at 30.68 is Neutral, neither overbought nor oversold. The STOCH value of 12.77 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
$981.38M8.0920.11%4.50%9.52%
77
Outperform
$1.08B2.87
70
Outperform
$654.61M10.989.11%2.54%9.50%69.82%
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
66
Neutral
$1.90B-1.83%2.48%20.42%-110.82%
62
Neutral
$2.46B59.7023.49%60.38%
48
Neutral
$129.40M0.96-24.49%10.82%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
FGNX
Fundamental Global
3.67
-20.33
-84.71%
IGIC
International General Insurance Holdings
22.23
3.86
21.01%
GSHD
GooseHead Insurance
68.65
-22.24
-24.47%
WDH
Waterdrop
1.77
0.65
58.04%
FIHL
Fidelis Insurance Holdings Ltd.
18.11
1.15
6.78%
YB
Yuanbao, Inc. Unsponsored ADR
22.93
7.93
52.87%

Fundamental Global Corporate Events

Private Placements and FinancingRegulatory Filings and Compliance
FG Nexus Registers 40 Million Shares for Resale
Neutral
Oct 14, 2025

On October 14, 2025, FG Nexus Inc. filed a resale registration statement to register 40,000,000 shares of its common stock, which are tied to pre-funded warrants from a recent $200 million private placement. As of that date, a significant portion of these warrants had not been exercised. Additionally, the company has sold over 2 million shares through its ongoing $5 billion At-the-Market offering, resulting in nearly 40 million shares of common stock issued and outstanding, with a free float of approximately 38.8 million shares after accounting for shares held by affiliates.

The most recent analyst rating on (FGNX) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
FG Nexus Increases Authorized Shares to 1 Trillion
Positive
Oct 8, 2025

On October 7, 2025, FG Nexus announced that its Certificate of Amendment to its amended and restated articles of incorporation was declared effective by the Nevada Secretary of State. This amendment significantly increases the company’s authorized shares to 1 trillion, consisting of 900 billion common shares and 100 billion preferred shares. This historic authorization, approved by a majority of shareholders, aims to provide FG Nexus with greater flexibility to increase ETH per share and deliver long-term shareholder value.

The most recent analyst rating on (FGNX) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
FG Nexus Partners with Securitize for Stock Tokenization
Positive
Oct 2, 2025

On October 2, 2025, FG Nexus Inc. announced an agreement with Securitize to allow shareholders to tokenize the company’s common and preferred stock on the Ethereum blockchain. This initiative positions FG Nexus as one of the first NASDAQ-listed companies to offer such a program, potentially transforming equity markets by enabling real-time settlement and programmable ownership. The move is expected to enhance shareholder experience and maintain regulatory compliance, marking a significant step in the tokenization trend within financial markets.

The most recent analyst rating on (FGNX) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Business Operations and Strategy
Fundamental Global Reaches 50,000 ETH Milestone
Positive
Sep 23, 2025

On September 23, 2025, FG Nexus announced that it had reached a milestone of holding 50,000 ETH, valued at approximately $210 million. This achievement is part of the company’s strategic plan to become the largest institutional holder of Ethereum, reflecting its strong belief in ETH’s potential to transform global finance.

The most recent analyst rating on (FGNX) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Business Operations and Strategy
Fundamental Global Boosts ETH Holdings to $229 Million
Positive
Sep 19, 2025

On September 19, 2025, FG Nexus Inc. announced an increase in its ETH holdings to 49,715 ETH, valued at approximately $229 million. This move is part of the company’s strategic plan to become the largest ETH holder in the Ethereum network, reflecting its commitment to leveraging Ethereum as a premier programmable asset for institutional reserves.

The most recent analyst rating on (FGNX) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Business Operations and StrategyShareholder Meetings
FG Nexus Shareholders Approve Massive Share Increase
Positive
Sep 16, 2025

On September 16, 2025, FG Nexus announced that its shareholders approved a significant increase in authorized shares to 1 trillion, comprising 900 billion common shares and 100 billion preferred shares. This move is expected to provide FG Nexus with maximum flexibility to execute its strategy of becoming the largest institutional holder of Ethereum. The authorization reflects shareholder confidence in the company’s Ethereum-focused strategy and is anticipated to enhance long-term shareholder value by allowing the company to adapt to market opportunities and growth initiatives.

The most recent analyst rating on (FGNX) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Business Operations and StrategyDividends
FG Nexus Announces Initial CVR Trust Distribution
Positive
Sep 15, 2025

On September 15, 2025, FG Nexus announced that the FG CVR Trust approved a $10 per share distribution payment to holders of contingent value rights (CVRs), with payments expected to commence on September 17, 2025. This marks the initial cash distribution from the CVR Trust, which plans to continue monetizing and distributing proceeds from its assets over the next three years, potentially impacting stakeholders by providing future distributions in cash or in-kind securities.

The most recent analyst rating on (FGNX) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Fundamental Global Announces Corporate Amendments
Neutral
Sep 12, 2025

On September 5, 2025, FG Nexus Inc. announced a series of corporate amendments approved by its Board of Directors and stockholders. These amendments include a significant increase in authorized shares, a requirement for certain legal actions to be brought in Nevada, and changes to the company’s equity incentive plan. These actions aim to enhance the company’s governance and operational flexibility, although they will not take effect until specific conditions are met.

The most recent analyst rating on (FGNX) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Stock Buyback
FG Nexus Announces $200 Million Share Buyback
Positive
Sep 10, 2025

On September 9, 2025, FG Nexus Inc. announced a $200 million share repurchase program approved by its Board of Directors. This initiative reflects the company’s confidence in its long-term prospects and commitment to delivering shareholder value. The program allows for repurchases of common stock in the open market or through negotiated transactions, with no obligation to repurchase a specific number of shares. The timing and amount of repurchases will depend on various factors, including market conditions and the company’s financial performance.

The most recent analyst rating on (FGNX) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

Stock Buyback
Fundamental Global Approves $200 Million Share Buyback
Positive
Sep 9, 2025

On September 5, 2025, FG Nexus Inc.’s Board of Directors approved a share repurchase program, allowing the company to buy back up to $200 million of its common stock. This move is aimed at utilizing the company’s surplus capital, potentially enhancing shareholder value and signaling confidence in the company’s future prospects.

The most recent analyst rating on (FGNX) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on Fundamental Global stock, see the FGNX Stock Forecast page.

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.Date of analysis: Oct 23, 2025