Forum Markets, Incorporated FRMM

5.04 (0.17) (3.26%) as of 25 Sep
Market cap
$69.9M
P/E
0.0×

Insider Decisions

Total sells 1.57
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — 4 — —
Insider Ownership 72.81%

Capital & Financial Ratios

Market Cap 69.94
Revenue 10.77
Net Income (530.18)
Free Cash Flow (56.04)
Net Debt 21.85
Current Ratio 2.69
Debt/Equity 0.20
P/E ratio 0.00
P/S ratio 8.00
P/B ratio 0.67
Past 5Y EPS Growth 55.37%
This Y EPS Growth 85.66%
Next Y EPS Growth 89.61%
Next 5Y EPS Growth —
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
2016 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 2 5 9 4
Receivables — — — 4
Inventory — — — —
Other — — — —
4 5 14 14
2023 2024 2025 Q'26
Payables 2 0 2 1
ST’ Debt — — 32 —
Other 0 — — —
5 4 41 5
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — — —
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 20.03% 43.52% 176.35%

Revenue

Mar Jun Sep Dec Year
’26 3 1 — — —
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (20) (12) — — —
’25 (1) (1) (16) (8) (26)
’24 (1) 1 0 (1) (1)
’23 (4) (3) (2) (2) (11)
’22 (2) (4) (4) (3) (12)
’22 — — — — (12)
’21 (6) (4) (4) (5) (19)
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (38) 116 — — —
’25 (1) (1) (260) 126 (136)
’24 (1) 1 0 (1) (1)
’23 (4) (3) (2) (2) (11)
’22 (2) (4) (4) (3) (12)
’22 — — — — (12)
’21 (6) (4) (4) (5) (19)
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 (3.58) (0.75) — — —
’25 (6.70) (3.00) (17.45) (12.04) (55.18)
’24 (16.80) 0.10 (8.50) (132.50) (154.90)
’23 (241.44) (133.08) (245.25) 94.57 (525.90)
’22 190.11 342.21 (2.09k) (2.29k) (3.87k)
’22 — — — — (20.38)
’21 (2.21k) (2.85k) 2.06k 190.11 (2.47k)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
— 36,670.00 36,822.00 34,846.00 7,220.00 9,158.00 224.20 28.50 11.60 4.86

Analyst estimates 2026–2028

Powerpack
Low Price
— 37,240.00 40,622.00 40,637.20 43,700.00 49,571.00 15,336.80 1,358.50 177.50 174.60
High Price
2 2 2 2 6 7 5 4 1 4
Employees
0 0 0 0 0 0 0 0 0 2
Revenue/Emp
— — — — — — — — — 7
Revenue
— — — 0.00% 0.00% 0.00% 0.00% — — 100.00%
Gross Margin
0 0 1 (25) (11) (20) (40) (22) (3) (444)
EBT
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% (6,774.57%)
EBT Margin
0 0 1 (25) (11) (20) (39) (20) (3) (444)
Net Income
0 — — 0 2 3 36 2 0 —
Depreciation
— 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.80
Revenue/Sh
— 136.40 948.79 (8,749.91) (2,279.62) (2,471.48) (3,874.52) (525.90) (154.90) (55.18)
Earnings/Sh
0.00 (552.67) (717.45) (1,144.38) (806.67) (2,362.37) (1,212.76) (288.18) (12.73) (3.19)
Cash Flow/Sh
0.00 0.00 0.00 (49.79) 0.00 0.00 0.00 0.00 0.00 (13.47)
Capex/Sh
0.00 (552.67) (717.45) (1,194.17) (806.67) (2,362.37) (1,212.76) (288.18) (12.73) (16.66)
Free CF/Sh
0.00 5,555.56 4,545.45 13,300.31 6,309.77 4,795.45 1,134.39 (3.37) 100.57 29.32
Book Value/Sh
— 0 0 0 0 0 0 0 0 8
Shares
— — — — — — — — — 0.00
PE Ratio
— — — — — — — — — 0.00
PS Ratio
— — — — — — — — — 0.17
PB Ratio
— — — — — — — — — 0.00
EV/Sales
— — — — — — — — — (3.39)
EV/FCF
0 0 (1) (3) (4) (19) (12) (11) (1) (26)
Op' Cash Flow
0 — — 0 — — — — — (110)
Capex
0 0 (1) (3) (4) (19) (12) (11) (1) (136)
FCF
0 0 0 (9) (17) (8) 3 (1) 2 (27)
Working Cap'
— — — 0 0 0 0 0 0 57
Total Debt
0 0 0 0 (2) (8) (7) (2) (5) 48
Net Debt
0 5 5 39 30 39 11 0 9 239
Sh' Equity
0.00% 0.21% 0.88% (46.70%) (19.88%) (30.08%) (140.93%) (160.06%) (157.35%) (282.40%)
ROA
0.00% (4.70%) (7.92%) (33.56%) (12.48%) (31.39%) (253.94%) 0.00% (58.87%) (50.69%)
ROIC
0.00% 4.93% 20.81% (65.84%) (39.64%) (51.69%) (341.38%) (355.47%) (310.82%) (362.34%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Forum Markets, Incorporated peers in Software Application

All 237 Software Application stocks →

Forum Markets, Incorporated (FRMM) key facts

  • Forum Markets, Incorporated (FRMM) is a Software Application company in the Technology sector, listed on Nasdaq.
  • Forum Markets, Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $6.5 million.
  • As of September 25, 2026, FRMM traded at $5.04, a market capitalization of $69.9 million.
  • Return on equity was −362.3% and debt-to-equity 0.20.

Source: company filings (standardised) and stockrow calculations.

Forum Markets, Incorporated (FRMM) Latest News

News by impact score

Fine-tune

24 Aug

4

Forum Markets targets AI compute expansion with cash flows from aircraft engines supporting operations. AI compute push represents major strategic shift likely to alter long-term trajectory and investor views.

21 Aug

4

Forum Markets, Incorporated targets Flag Ship Acquisition in AI compute and aircraft engines to expand cash flow. Acquisition in AI compute and aircraft engines represents major strategic move with potential to alter FRMM trajectory and investor sentiment.

20 Aug

4 transcript

Forum Markets Inc (FRMM) reported Q2 2026 earnings highlighting a strategic shift to AI Compute. Strategic shift to AI Compute represents a major move that could significantly alter the company's trajectory.

13 Aug

3 transcript

Flag Ship Acquisition Q2 earnings call highlights financial performance and strategic initiatives for Forum Markets, Incorporated (FRMM). Q2 earnings call highlights indicate moderate influence on financial perception and market positioning.

3

Forum Markets, Incorporated (FRMM) reported its second quarter 2026 financial results. Quarterly results can shift short-term investor sentiment on FRMM performance without guaranteeing major strategic change.

4 Aug

4

Forum Markets, Incorporated acquires Flag Ship targeting AI compute and aircraft engines for cash flow. Flag Ship acquisition expands Forum Markets into AI compute and aircraft engines boosting future cash flows.

27 Jun

4

Forum Markets (FRMM) stock fair value rises as analysts support the company's move to tokenization. Analyst support for FRMM tokenization strategy lifts fair value and signals major strategic impact on future performance.

14 May

4

Forum Markets Inc (FRMM) Q1 2026 earnings call highlights navigating ongoing losses amid key strategic shifts. Q1 losses paired with strategic shifts represent major financial and operational changes likely to alter FRMM's trajectory and investor sentiment.

21 Apr

4

Forum Markets (FRMM) provides loans to AI chip buyers while tokenizing real assets on Ethereum. Lending to AI chip buyers and tokenizing real assets on Ethereum mark major strategic expansions into high-growth AI and blockchain sectors.

17 Apr

4

Forum Markets Incorporated (FRMM) stock jumped 19% after the board revived its share buyback program and launched a strategic review. Reviving a share buyback and launching a strategic review are major moves signaling confidence and potential restructuring that could significantly boost FRMM's trajectory and investor sentiment.

4

Benchmark flags Forum Markets, Incorporated (FRMM) exposure to the expanding real-world asset (RWA) tokenization trend, highlighting its positioning amid growing market adoption. FRMM's exposure to the expanding RWA tokenization trend positions it for significant gains in investor sentiment and market performance.

1 Apr

4

Forum Markets Inc (FRMM) Q4 2025 earnings call highlights navigating ongoing losses while emphasizing strategic growth initiatives. Q4 earnings disclosure of losses combined with strategic growth plans likely to significantly sway investor sentiment and FRMM's market trajectory.

25 Feb

4

Flag Ship Acquisition Corp. (ETHZ), formerly ETHZilla, rebrands by dropping its Ethereum Treasury Label following a share price collapse. Rebrand abandoning Ethereum Treasury Label after share price collapse signals major strategic shift likely eroding crypto-linked investor appeal and altering market trajectory.

18 Feb

4

Peter Thiel exits investment in Flag Ship Acquisition Corp. (ETHZ), nicknamed ETHZilla, after the company's Ethereum treasury stock value craters. Peter Thiel's high-profile exit amid Ethereum treasury losses erodes investor confidence and signals potential market downturn for ETHZ.

4

Peter Thiel quietly exits ETHZilla, Ethereum treasury firm tied to Flag Ship Acquisition Corp. (ETHZ), viewed as warning sign for DAT Model. Peter Thiel's exit from ETHZilla signals investor concerns for ETHZ's DAT Model, likely harming market sentiment and trajectory.

4

Flag Ship Acquisition Corp. (ETHZ), aka ETHZilla, stock plummets after Peter Thiel exits Ethereum treasury bet, filings show. Peter Thiel's exit from Ethereum treasury position caused ETHZ stock to plummet, eroding key investor support and market confidence.

4

Peter Thiel sells his full stake in Flag Ship Acquisition Corp. (ETHZ), a cryptocurrency-focused company. Peter Thiel's complete exit from ETHZ undermines investor confidence and signals potential risks to the company's future prospects.

4

Peter Thiel cuts ties with ETHZilla as treasury firms face mounting pressure, impacting Flag Ship Acquisition Corp. (ETHZ). Peter Thiel's departure from ETHZilla amid sector pressures signals major investor withdrawal, poised to significantly damage ETHZ's valuation and strategic outlook.

13 Feb

4

Flag Ship Acquisition Corp. (ETHZ) has launched a tokenized jet engine lease product, marking a significant innovation in the aerospace sector. This new offering aims to streamline the leasing process for jet engines by utilizing blockchain technology, allowing for greater transparency and efficiency. The initiative is expected to attract interest from airlines and leasing companies looking to optimize their operations and reduce costs. ETHZ's move into tokenization reflects a broader trend in the industry towards digital solutions and could position the company as a leader in this niche market. The launch of a tokenized jet engine lease product represents a significant strategic move that could enhance ETHZ's market position and investor sentiment.

12 Feb

3

ETHZilla, the Ethereum treasury firm, is shifting its focus to jet engine lease tokenization as the value of Ethereum declines. This pivot aims to leverage blockchain technology in the aviation sector, potentially creating new revenue streams amid the cryptocurrency downturn. The strategic pivot to jet engine lease tokenization may moderately influence ETHZ's financial performance and competitive positioning.

5 Feb

4

Flag Ship Acquisition Corp. (ETHZ) is set to tokenize a portfolio of 95 home loans that yield an annual return of 10.36%. This move marks a significant expansion beyond its traditional focus on Ethereum treasury management, indicating a strategic shift in its investment approach. Tokenizing home loans represents a major strategic move that could significantly alter the company's trajectory and investor sentiment.

4

Flag Ship Acquisition Corp. (ETHZ) is shifting its focus to real estate tokenization, highlighted by a recent $4.7 million housing loan deal. This pivot aims to leverage blockchain technology in the real estate sector, potentially enhancing liquidity and investment opportunities in property markets. The strategic move into real estate tokenization could significantly alter the company's trajectory and investor sentiment.

27 Jan

4

Ethereum Treasury ETHZilla has sold a portion of its Ethereum (ETH) holdings to acquire jet engines, marking a significant move in its asset management strategy. This transaction highlights ETHZilla's approach to leveraging cryptocurrency assets for tangible investments, potentially influencing its future financial positioning and operational capabilities. The sale of ETH for jet engines indicates a strategic shift that could significantly impact the company's future operations and market perception.

24 Jan

4

Flag Ship Acquisition Corp. (ETHZ) has made a strategic move by purchasing jet engines as part of its tokenization initiative, following the sale of a significant amount of Ethereum (ETH). This acquisition aligns with the company's efforts to diversify its assets and enhance its operational capabilities in the evolving blockchain landscape. The acquisition of jet engines indicates a significant strategic shift that could enhance operational capabilities and investor sentiment.

23 Dec

3

Flag Ship Acquisition Corp. (ETHZ), backed by Peter Thiel, has sold a significant portion of its cryptocurrency holdings to address outstanding debts. The move comes amid increasing scrutiny of the company's financial practices and market position. ETHZilla, the entity managing these assets, aims to stabilize its operations and regain investor confidence following recent volatility in the crypto market. This decision reflects broader challenges faced by crypto firms in managing liquidity and debt obligations. Selling tokens to pay off debt indicates financial strain that could moderately affect the company's market position.

3

Flag Ship Acquisition Corp. (ETHZ) experienced a significant decline in stock value following a $74.5 million sale of cryptocurrency, which indicated a retreat from the Digital Asset Trading (DAT) sector. This move raised concerns among investors about the company's commitment to its crypto initiatives and overall market strategy. The sale signals a strategic shift that may moderately influence investor sentiment and the company's future operations in the crypto space.

22 Dec

4

Flag Ship Acquisition Corp. (ETHZ), backed by Peter Thiel, has sold $74.5 million in Ethereum (ETH) and abandoned its treasury strategy, raising concerns about its financial management and future direction. The decision to liquidate a significant portion of its ETH holdings suggests potential issues within the company's investment strategy and may reflect broader market challenges. Analysts are questioning what led to this abrupt shift and its implications for ETHZ's operational stability and investor confidence. The liquidation of a substantial asset and abandonment of a treasury strategy indicates significant strategic shifts that could impact investor sentiment and the company's future performance.

4

Flag Ship Acquisition Corp. (ETHZ) has been compelled to liquidate $74 million in Ethereum holdings due to financial pressures. This significant sale comes amid a challenging market environment for cryptocurrencies, raising concerns about the company's liquidity and future operations. The decision to sell such a large amount of ETH may impact investor sentiment and the overall market dynamics surrounding Ethereum. The forced sale of $74 million in ETH is likely to significantly impact the company's financial stability and market perception.

3

Flag Ship Acquisition Corp. (ETHZ), backed by Peter Thiel, has seen a significant decline in its stock value following the repayment of its debt. The company's decision to settle its obligations has raised concerns among investors about its financial stability and future growth prospects in the volatile crypto market. Repaying debt may indicate financial strain, potentially affecting investor confidence and market performance.

3

Flag Ship Acquisition Corp. (ETHZ) has sold $74.5 million worth of ether as part of a strategy to reduce its debt load. This move comes amid ongoing efforts to stabilize the company's financial position and improve its balance sheet. The sale of ether is a significant step in addressing the company's liabilities and is expected to impact its future financial health. The sale of ether is a strategic move to manage debt, which may moderately influence the company's financial performance.

stockrow.com/FRMM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com