Forum Markets Incorporated (FRMM) carries a Roarable Rating of E (Strong Sell) with 25/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.
As of 2026-11-03, Forum Markets Incorporated (NASDAQ: FRMM) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 25/100 at a spot price of $3.45 (-7.01% 1D, market cap $45.5M). Pillar breakdown: Fundamental Cash Engine 4/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 7/20, and Executive Insider Alignment 3/20. Across 1097 tracked Financials issuers, FRMM ranks #1063 in composite RQD confidence.
Within the Financials sector (Finance: Consumer Services), FRMM carries a Roarable E (25/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, NCTY (The9 Limited American Depository Shares) holds a E grade (18/100 RQD, P/E N/A, ROIC -35.0%, cap $45.7M) and STEX (Streamex Corp.) posts a E grade (30/100 RQD, P/E N/A, ROIC -35.0%, cap $45.2M). Among the 5-stock peer group, FRMM leads on earnings multiple (N/A) while AVX leads on capital efficiency (-10.4% ROIC).
Per FRMM's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001690080), Forum Markets Incorporated generated $6.5M in revenue (-47.1% YoY), -$450.5M in net income, and -$26.1M in free cash flow against $306.3M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.
Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer
Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 1/9
FRED Regime × Technicals: 10% of 52W Range • RSI-14 at 38.6 (NEUTRAL RANGE)
Dilution Drag (+1.28% YoY Shares) & executive Form 4 sales trim 16 pts from alignment
While FRMM currently carries a cautious 25/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.
Established market leader in Financials with deep daily trading liquidity.
Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($4.52) and Max Pain ($3.62) forces dealer call-delta covering toward $20.42.
Forensic Repair Trigger: Halting share dilution (Dilution Drag (+1.28% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.
Forum Markets Incorporated (FRMM) dropped -7.01% to $3.45, trading at 10% of its 52-week range ($1.76 – $19.45). Stretched risk/reward at current multiples (-35% return on capital) under elevated 10-year interest-rate pressure.
Yahoo! Finance Canada report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
TradingView report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
Stock Titan report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
Investing.com UK report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
TradingView report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
Stock Titan report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
Kalkine Media report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
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Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).
vs. -47.1% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
No active Ellis Vennor swing setup published on FRMM today. View full Setup Ledger →
No direct multi-tier Butterfly edges indexed yet for FRMM. Explore sector supply chains on /butterfly.
Across 1097 tracked Financials securities in the Roarable RQD universe, Forum Markets Incorporated (FRMM) ranks #1063 by composite RQD confidence (25/100, grade E) and #1016 by equity capitalization ($45.5M). Within this direct 5-issuer industry benchmark cohort, FRMM leads on earnings valuation at N/A trailing P/E, while AVX leads on capital efficiency and profitability with -10.4% ROIC and — gross margin. AVAT currently holds the highest overall quantitative score in the immediate peer group at 44/100 (D) compared with FRMM at 25/100 (E).
| Ticker / Company | Roarable Grade | RQD Score | Trailing P/E | Gross Margin | ROIC | 1D Change | Market Cap | Head-to-Head |
|---|---|---|---|---|---|---|---|---|
| FRMM
ACTIVE
Forum Markets Incorporated | E | 25/100 | — | — | -35.0% | -7.01% | $45.5M | Benchmark Subject |
| NCTY The9 Limited American Depository Shares | E | 18/100 | — | — | -35.0% | -4.62% | $45.7M | /ncty-vs-frmm → |
| STEX Streamex Corp. | E | 30/100 | — | — | -35.0% | -11.67% | $45.2M | /stex-vs-frmm → |
| AVX Avax One Technology Ltd. | E | 29/100 | — | — | -10.4% | -6.42% | $45.1M | /avx-vs-frmm → |
| AVAT Avalanche Treasury Corporation (Class A) | D | 44/100 | — | — | — | -3.74% | $45.0M | /avat-vs-frmm → |
In its most recent audited fiscal period (FY2025, filed 2025-12-31), Forum Markets Incorporated (FRMM) reported GAAP revenue of $6.5M (-47.1% vs. FY2024 revenue of $12.4M , and -82.7% cumulative change since FY2023) , GAAP net income of -$450.5M, operating cash flow of -$26.1M, and free cash flow of -$26.1M (-2124.8% YoY). On the balance sheet, FRMM closed FY2025 with $306.3M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 1/9).
| Fiscal Period | Filing Date | Revenue | Net Income | Operating Cash Flow | Free Cash Flow | Total Assets | Total Debt |
|---|---|---|---|---|---|---|---|
| FY2025 (FY) | 2025-12-31 | $6.5M | -$450.5M | -$26.1M | -$26.1M | $306.3M | — |
| FY2024 (FY) | 2024-12-31 | $12.4M | -$6.2M | -$1.2M | -$1.2M | $12.8M | — |
| FY2023 (FY) | 2023-12-31 | $37.7M | -$19.9M | -$10.9M | -$10.9M | — | — |
As of 2026-11-03, Forum Markets Incorporated (NASDAQ: FRMM) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 25/100 at a spot price of $3.45 (-7.01% 1D, market cap $45.5M). Pillar breakdown: Fundamental Cash Engine 4/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 7/20, and Executive Insider Alignment 3/20. Across 1097 tracked Financials issuers, FRMM ranks #1063 in composite RQD confidence.
Within the Financials sector (Finance: Consumer Services), FRMM carries a Roarable E (25/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, NCTY (The9 Limited American Depository Shares) holds a E grade (18/100 RQD, P/E N/A, ROIC -35.0%, cap $45.7M) and STEX (Streamex Corp.) posts a E grade (30/100 RQD, P/E N/A, ROIC -35.0%, cap $45.2M). Among the 5-stock peer group, FRMM leads on earnings multiple (N/A) while AVX leads on capital efficiency (-10.4% ROIC).
Per FRMM's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001690080), Forum Markets Incorporated generated $6.5M in revenue (-47.1% YoY), -$450.5M in net income, and -$26.1M in free cash flow against $306.3M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.
FRMM last traded at $3.45 (-7.01% on volume of 76,723 shares), positioning the stock -23.67% below its 50-day simple moving average ($4.52) and -23.16% below its 200-day simple moving average ($4.49). Across its 52-week range of $1.76 to $19.45, FRMM sits at the 9.6% percentile with a 14-day RSI of 38.6 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($3.02 to $3.88).
Forum Markets Incorporated (FRMM) earns a live Roarable RQD composite score of 25/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $3.45 (-7.01% 1D, market capitalization $45.5M).
Forum Markets Incorporated (FRMM) is listed on NASDAQ and classified under the Financials sector, Finance: Consumer Services industry. Revenue is reported at $6.5M for FY 2025 .
In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Forum Markets Incorporated (FRMM) reported $6.5M in annual revenue (up from $12.4M in FY2024, -47.1% YoY) and -$450.5M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($37.7M revenue, -$19.9M net income) through FY2025, FRMM scaled operating cash flow to -$26.1M and free cash flow to -$26.1M, backed by $306.3M in total assets against $0 in total debt.
Upstream suppliers, downstream customers, and sector correlations therefore cannot be mapped from the source data. A prospective investor should watch whether the announced compute agreement converts into reported revenue in future filings, since FY 2025 revenue of $6.5M is the only recorded top-line evidence.
Real-time company headlines, analyst actions, and sector developments for Forum Markets Incorporated (FRMM) • Click "Debate This Headline" to argue it in the Roar Pit below
Yahoo! Finance Canada report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
TradingView report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
Stock Titan report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
Investing.com UK report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
TradingView report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
Stock Titan report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
Kalkine Media report covering Forum Markets Incorporated (FRMM) market action, institutional positioning, and fundamental catalysts.
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Here is why I am bullish on FRMM here at $3.45: The announced $94.4 Million AI cloud compute agreement with Fireworks could, if converted into revenue, materially lift the $6.5M FY 2025 top line.. Compare FRMM's -60.0% operating margin and -35.0% ROIC against the rest of Finance: Consumer Services. As long as cash conversion holds up, dips toward $3.28 are getting bought.
Both sides have a point here — FRMM's 8/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.
A 0% FCF yield, -35% ROIC, and FY 2025 net loss of -$450.5M against $6.5M revenue leave the forensic and cash-engine pillars scoring 8/20 and 4/20.. Look at the math on FRMM: paying current EV/EBITDA multiples for -35.0% ROIC and -60.0% operating margins leaves zero margin of safety if Finance: Consumer Services demand softens. I'd wait for a retest of $3.04 before getting long.
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