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FG Nexus Inc. operates a digital asset treasury focused on Ethereum (ETH) and tokenization opportunities in the United States. It operates through two segments, Digital Assets and Merchant Banking. The company focuses on commercializing and expanding the tokenization of real-world assets, such as housing, reinsurance, real estate, and other asset classes. It also provides merchant banking services, including strategic, administrative, and regulatory support services to newly formed SPACs. In addition, the company engages in the manufactured housing communities; and casual restaurant platform businesses. Further, it holds real estate and equity holdings. The company was formerly known as Fundamental Global Inc. and changed its name to FG Nexus Inc. in September 2025. FG Nexus Inc. is based in Charlotte, North Carolina.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Public disclosures for Fundamental Global Inc. (FGNX) are limited, and its definitive core business and long-term growth drivers are not clearly described in available filings and investor materials. Because of this lack of detail, investors may find potential upside if the company later discloses scalable operations or strategic assets, but clarity depends on upcoming regulatory filings and management communications.
Principal investment risks include limited disclosure and transparency, low trading liquidity leading to volatile pricing, and execution and financing uncertainty until the company's business model and financial condition are documented.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -67.71M | -23.00M | -13.30M | 1.09M | -7.33M |
| Minority interest | 0.00M | 0.16M | 0.56M | 0.00M | -1.33M |
| Net income | -68.51M | -1.16M | -14.08M | 1.09M | -8.51M |
| Selling general administrative | 14.51M | 13.98M | 11.11M | 8.35M | 9.18M |
| Selling and marketing expenses | - | 1.28M | 0.80M | - | - |
| Gross profit | -2.64M | -8.14M | -4.38M | 1.82M | -1.60M |
| Reconciled depreciation | 0.30M | 0.83M | 0.84M | - | - |
| Ebit | -67.58M | -22.64M | -12.79M | - | - |
| Ebitda | -67.28M | -21.81M | -11.94M | 1.09M | -7.33M |
| Depreciation and amortization | 0.29M | 0.83M | 0.84M | - | - |
| Operating income | -65.48M | -24.88M | -16.29M | 1.09M | -7.33M |
| Other operating expenses | 63.14M | 42.22M | 33.38M | 11.39M | 11.48M |
| Interest expense | 0.13M | 0.36M | 0.52M | - | - |
| Tax provision | -0.07M | -0.14M | -1.00M | - | 0.00M |
| Interest income | - | - | - | - | 0.00M |
| Net interest income | -0.13M | -0.36M | -0.52M | - | - |
| Income tax expense | 0.81M | -0.14M | -1.00M | - | 3.24M |
| Total revenue | -2.35M | 17.35M | 17.09M | 12.48M | 4.15M |
| Total operating expenses | 62.85M | 16.73M | 11.90M | 0.74M | 5.74M |
| Cost of revenue | 0.29M | 25.49M | 21.48M | 10.65M | 5.75M |
| Total other income expense net | -2.22M | 1.88M | 2.98M | 0.32M | 0.19M |
| Net income from continuing ops | -67.63M | -22.86M | -12.31M | 1.09M | -7.33M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 163.84M | 109.47M | 62.14M | 71.75M | 75.81M |
| Intangible assets | - | - | - | 1.51M | 0.07M |
| Other current assets | - | 31.63M | 9.89M | 4.87M | 5.14M |
| Total liab | 20.35M | 35.27M | 25.14M | 25.05M | 23.53M |
| Total stockholder equity | 143.49M | 74.20M | 35.15M | 46.70M | 52.28M |
| Other current liab | -5.34M | 24.85M | 9.87M | 6.95M | 6.29M |
| Common stock | 0.07M | 0.03M | 0.23M | 0.22M | 0.21M |
| Capital stock | 22.29M | 22.39M | 0.23M | 22.37M | 22.37M |
| Retained earnings | -68.74M | -0.23M | 2.34M | 16.44M | 23.59M |
| Good will | - | - | - | 0.88M | 0.94M |
| Other assets | 148.24M | 92.77M | 37.22M | 20.79M | 20.01M |
| Cash | 13.39M | 7.79M | 6.00M | 3.79M | 8.73M |
| Total current liabilities | 1.92M | 33.48M | 17.87M | 14.29M | 14.13M |
| Current deferred revenue | - | 0.86M | 0.87M | 2.13M | -2.52M |
| Net debt | -11.47M | -4.05M | 3.46M | 4.98M | -1.44M |
| Short term debt | 1.92M | 2.07M | 2.29M | 2.96M | 3.60M |
| Short long term debt | 1.92M | 2.07M | 2.29M | - | - |
| Short long term debt total | 1.92M | 3.74M | 9.46M | 8.77M | 7.29M |
| Other stockholder equity | 190.55M | 50.92M | 37.27M | 35.30M | 32.22M |
| Total current assets | 13.39M | 50.00M | 31.44M | 18.22M | 21.77M |
| Long term investments | 14.67M | 54.31M | 17.47M | 0.84M | 1.42M |
| Short term investments | 0.00M | 5.76M | 10.55M | 24.84M | 14.04M |
| Net receivables | - | 3.38M | 3.53M | 6.17M | 4.63M |
| Long term debt | - | 0.30M | 5.46M | - | - |
| Inventory | - | 1.43M | 1.48M | 3.39M | 3.27M |
| Accounts payable | 5.34M | 5.70M | 4.83M | 4.38M | 4.25M |
| Accumulated other comprehensive income | -0.61M | 1.11M | -4.68M | -5.26M | -3.75M |
| Non currrent assets other | -134.05M | 1.07M | 0.49M | 0.00M | 1.69M |
| Non current assets total | 2.21M | 59.47M | 30.70M | 53.54M | 54.03M |
| Capital lease obligations | - | 1.37M | 1.70M | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | 9.83M | 13.24M | 0.09M | -3.45M | 5.90M |
| Total cashflows from investing activities | -122.56M | 13.24M | 0.09M | -3.45M | -1.15M |
| Net borrowings | -0.25M | -5.95M | -1.04M | - | - |
| Total cash from financing activities | 135.61M | -7.38M | 1.24M | 1.94M | 3.25M |
| Net income | -67.63M | -22.86M | -12.31M | 1.09M | 17.94M |
| Change in cash | 6.83M | 1.80M | 2.93M | -12.53M | 4.09M |
| Begin period cash flow | 6.56M | 6.00M | 3.06M | 15.54M | 4.79M |
| End period cash flow | 13.39M | 7.79M | 6.00M | 3.01M | 8.88M |
| Total cash from operating activities | -6.25M | -4.05M | 1.58M | -11.02M | 2.04M |
| Issuance of capital stock | 168.62M | 0.00M | 2.41M | 3.73M | 9.46M |
| Depreciation | 0.30M | 0.83M | 0.84M | 1.59M | 2.13M |
| Other cashflows from investing activities | -124.88M | 6.36M | 0.95M | -0.70M | 0.38M |
| Dividends paid | 1.79M | 1.41M | 1.79M | 1.79M | 1.69M |
| Change to inventory | - | -0.02M | 0.39M | -0.31M | -1.09M |
| Change to account receivables | - | 0.18M | 1.83M | -5.42M | 1.13M |
| Sale purchase of stock | -26.13M | -0.02M | - | - | -0.08M |
| Other cashflows from financing activities | -18.89M | -0.02M | -0.14M | 0.20M | 5.44M |
| Capital expenditures | 0.00M | 0.05M | 0.16M | 0.08M | 1.53M |
| Change in working capital | 5.94M | 1.88M | 2.82M | -5.52M | -2.86M |
| Stock based compensation | 7.76M | 1.62M | 1.60M | 0.26M | 0.89M |
| Other non cash items | 49.44M | 14.95M | 9.55M | -6.85M | -16.06M |
| Free cash flow | -6.25M | -4.09M | 1.42M | -11.10M | 0.51M |
Sector: Financial Services Industry: Asset Management
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| BLK BlackRock Inc |
64.04 5.51% |
1225.36 | 26.25 | 19.57 | 6.33 | 2.90 | 6.35 |
| BX Blackstone Group Inc |
7.38 6.24% |
125.57 | 33.20 | 20.12 | 11.05 | 11.56 | 9.14 |
| IVSBF Investor AB ser. B |
- -% |
43.57 | 4.67 | 3.83 | 3.78 | 1.13 | 4.15 |
| KKR KKR & Co. Inc. |
5.35 5.57% |
101.34 | 32.68 | 13.66 | 3.58 | 3.22 | 0.68 |
FG Nexus Inc. operates a digital asset treasury focused on Ethereum (ETH) and tokenization opportunities in the United States. It operates through two segments, Digital Assets and Merchant Banking. The company focuses on commercializing and expanding the tokenization of real-world assets, such as housing, reinsurance, real estate, and other asset classes. It also provides merchant banking services, including strategic, administrative, and regulatory support services to newly formed SPACs. In addition, the company engages in the manufactured housing communities; and casual restaurant platform businesses. Further, it holds real estate and equity holdings. The company was formerly known as Fundamental Global Inc. and changed its name to FG Nexus Inc. in September 2025. FG Nexus Inc. is based in Charlotte, North Carolina.
| Name | Title | Year Born |
|---|---|---|
| Mr. Daniel Kyle Cerminara C.F.A., CFA | Co-Founder, Chairman of the Board & CEO | 1977 |
| Mr. Larry Gene Swets Jr., C.F.A. | Chief Executive Officer of Merchant Banking | 1975 |
| Mr. Theodore Rosenthal | President of Digital Assets | NA |
| Mr. Mark D. Roberson CPA | Chief Financial Officer | 1965 |
| Mr. Todd Robert Major CPA | Chief Accounting Officer | 1974 |
| Mr. Joseph Hugh Moglia | Co-Founder & Executive Advisor | 1950 |
Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.
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