Fold Holdings (FLD) AI Stock Analysis

• Market Cap: $154.41M
• Dividend Yield: N/A
• Average Volume (3M): 1.35M
• Price to Earnings (P/E): ―
• Beta (1Y): <0.01
• Revenue Growth: N/A
• EPS Growth: -1898.55%
• Country: US
• Employees: 28
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management - Cryptocurrency
• EPS (TTM): 0.01
• Shares Outstanding: 46,789,930
• 10 Day Avg. Volume: 262,546
• 30 Day Avg. Volume: 1,351,517
• PEG Ratio: 0.48
• Price to Book (P/B): -19.96
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -48.40
• Enterprise Value/Market Cap: 1.72
• Enterprise Value/Revenue: 36.07
• Enterprise Value/Gross Profit: -11.28
• Enterprise Value/Ebitda: -8.60
• 1Y Price Target: $7.00
• Price Target Upside: 126.54% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $3.00 ▼(-2.91% Downside)

Fold Holdings faces significant challenges with negative profitability and liquidity issues, as reflected in its financial performance score. The technical analysis indicates a bearish trend with weak momentum. The valuation is concerning due to the negative P/E ratio and lack of dividend yield. These factors combined result in a low overall stock score.

Positive Factors

Revenue Growth

The strong revenue growth indicates increasing market demand and successful product adoption, which could enhance long-term business sustainability.

Strategic Partnerships

The partnership with a major restaurant chain enhances Fold's market reach and consumer engagement, potentially driving long-term growth and brand recognition.

Cash Conversion

Effective cash conversion supports operational flexibility and investment capacity, crucial for sustaining growth and navigating financial challenges.

Negative Factors

Negative Margins

Persistent negative margins highlight cost management issues, which could hinder profitability and long-term financial health if not addressed.

Liquidity Challenges

Liquidity challenges can constrain operational capabilities and limit the company's ability to invest in growth opportunities, impacting future performance.

Past Negative Equity

Historical negative equity indicates potential financial instability, which could affect the company's ability to secure financing and sustain operations.

Fold Holdings Business Overview & Revenue Model

Company Description

Fold Holdings (FLD) is a leading company in the digital payments and blockchain technology sector, specializing in providing innovative financial solutions that leverage cryptocurrency and traditional finance. The company offers a range of products, including a mobile wallet, cryptocurrency rewards programs, and a platform for seamless crypto transactions, aiming to enhance consumer engagement and financial accessibility.

How the Company Makes Money

Fold Holdings generates revenue primarily through transaction fees associated with its mobile wallet services and cryptocurrency transactions. Additionally, the company earns income from its rewards program, where it partners with various merchants to provide customers with cryptocurrency rewards for their purchases. This not only drives user engagement but also encourages spending within the ecosystem. Furthermore, Fold Holdings may benefit from strategic partnerships with financial institutions and technology providers that enhance its service offerings and expand its market reach.

Fold Holdings Financial Statement Overview

Summary

Fold Holdings is experiencing rapid revenue growth, but persistent negative margins and profitability issues are concerning. The balance sheet reflects moderate leverage but past negative equity raises stability concerns. Cash flow management shows some strengths in cash conversion, yet liquidity remains a challenge. Overall, the company needs to address profitability and cash flow issues to improve its financial health.

Income Statement

Fold Holdings has experienced significant revenue growth of 153% in the TTM period, indicating strong top-line expansion. However, the company is struggling with negative margins across the board, including a gross profit margin of -4.38% and a net profit margin of -6.56%, reflecting challenges in cost management and profitability.

Balance Sheet

The company's debt-to-equity ratio of 0.90 suggests moderate leverage, but the negative return on equity (-1.74%) indicates inefficiencies in generating returns for shareholders. The equity ratio stands at 48.6%, showing a reasonable proportion of equity financing, yet the negative equity in previous periods raises concerns about financial stability.

Cash Flow

Fold Holdings shows a positive free cash flow to net income ratio of 1.00, indicating effective cash conversion. However, the operating cash flow is negative, and the free cash flow growth rate of 36.68% is overshadowed by the negative operating cash flow coverage ratio, highlighting liquidity challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.35M	0.00	21.53M	28.88M	0.00
Gross Profit	-23.50M	0.00	17.65M	25.06M	0.00
EBITDA	-30.82M	-2.89M	-3.70M	-14.68M	636.00
Net Income	28.81M	-1.87M	4.44M	-11.97M	-120.00K
Balance Sheet
Total Assets	190.97M	52.22M	165.96M	255.66M	225.17M
Cash, Cash Equivalents and Short-Term Investments	6.66M	906.04K	29.84K	72.75K	1.23M
Total Debt	0.00	5.74M	2.02M	0.00	0.00
Total Liabilities	96.28M	60.54M	4.55M	10.35M	8.95M
Stockholders Equity	94.69M	-8.32M	-8.43M	-1.27M	216.22M
Cash Flow
Free Cash Flow	-11.45M	-3.43M	-5.08M	-1.82M	-712.14K
Operating Cash Flow	-11.47M	-3.43M	-5.08M	-1.49M	-712.14K
Investing Cash Flow	115.27M	117.32M	99.81M	-28.43M	-266.64M
Financing Cash Flow	-117.49M	-113.01M	-94.77M	28.98M	268.82M

Fold Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.09
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLD, the sentiment is Negative. The current price of 3.09 is below the 20-day moving average (MA) of 3.53, below the 50-day MA of 3.63, and below the 200-day MA of 4.91, indicating a bearish trend. The MACD of -0.20 indicates Positive momentum. The RSI at 36.68 is Neutral, neither overbought nor oversold. The STOCH value of 21.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FLD.

Fold Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESSA	76 Outperform	―	―	―	―	5.57%	-16.40%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
WHF	67 Neutral	$165.96M	46.67	3.51%	23.33%	-55.82%	-4.97%
OPBK	67 Neutral	$197.23M	8.43	10.99%	3.61%	9.10%	12.36%
FLYX	45 Neutral	$254.81M	―	―	―	―	―
SWIN	45 Neutral	―	―	―	―	―	―
FLD	41 Neutral	$154.41M	-1.94	-54.34%	―	―	-1898.55%

Fold Holdings Corporate Events

Fold Holdings Secures $45 Million Credit Facility

On October 1, 2025, Fold, Inc., a subsidiary of Fold Holdings, Inc., entered into a Master Loan Agreement with Two Prime Lending Limited, establishing a revolving credit facility of up to $45 million. The facility, secured by a portion of Fold’s bitcoin holdings, is intended to provide non-dilutive capital for working capital and general corporate purposes. The agreement includes terms for collateral management, default events, and remedies, ensuring that the company can manage its bitcoin treasury effectively while supporting growth.

The most recent analyst rating on (FLD) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Fold Holdings stock, see the FLD Stock Forecast page.

Fold Holdings Reports Strong Q2 2025 Results

Fold Holdings, Inc. (NASDAQ: FLD) is a pioneering company in the Bitcoin financial services sector, providing innovative solutions for individuals and businesses to earn, save, and use Bitcoin. The company is recognized for its integration of Bitcoin into everyday financial experiences through products like the Fold App and Fold Card.

Fold Holdings Approves Executive Salary Increases

On February 28, 2025, Fold Holdings‘ Compensation Committee approved salary increases for its top executives. The CEO, Mr. Will Reeves, and CFO, Mr. Wolfe Repass, received raises to $500,000 and $400,000, respectively, effective February 19, 2025.

The most recent analyst rating on (FLD) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Fold Holdings stock, see the FLD Stock Forecast page.

Fold Holdings Issues Executive Severance Participation Notices

On August 8, 2025, Fold Holdings, Inc. announced the approval of its Annual Bonus Plan, which applies to all full-time employees, including executive officers. The plan outlines performance criteria such as revenue, adjusted EBITDA, and the success of the Fold Bitcoin Credit Card launch. Bonuses will be paid by March of the following year, contingent on continued employment. On August 11, 2025, Fold Holdings issued Participation Notices to its CEO and CFO under the Executive Severance Plan, detailing their eligibility for benefits in the event of a qualifying termination.

The most recent analyst rating on (FLD) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on Fold Holdings stock, see the FLD Stock Forecast page.

Fold Holdings Secures $250M for Bitcoin Expansion

Fold Holdings reported a strong second quarter for 2025, with a 59% year-over-year increase in revenue to $8.2 million and a net income of $13.4 million. The company also saw significant growth in new accounts and transaction volumes, alongside securing a $250 million equity purchase facility to expand its Bitcoin holdings. Fold’s strategic initiatives, including the upcoming launch of the Fold Credit Card and the successful introduction of the Bitcoin Gift Card, are expected to enhance its market presence and drive further growth. The company’s Bitcoin Investment Treasury holds 1,492 BTC, valued at $160 million as of June 30, 2025, underscoring its commitment to Bitcoin as a core asset.

The most recent analyst rating on (FLD) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on Fold Holdings stock, see the FLD Stock Forecast page.