FG Nexus (FGNX)
Market Price (12/8/2025): $2.93 | Market Cap: $34.3 MilSector: Financials | Industry: Asset Management & Custody Banks
FG Nexus (FGNX)
Market Price (12/8/2025): $2.93Market Cap: $34.3 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 66% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -53% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 66% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -53% |
Valuation, Metrics & Events
FGNX Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
1. Approval of Massive Share Authorization
On September 16, 2025, FG Nexus shareholders approved a landmark increase in authorized shares to 1 trillion, comprising 900 billion common shares and 100 billion preferred shares. While the company stated this was to provide maximum flexibility for its strategy to become the largest corporate holder of Ethereum (ETH), such a massive potential for dilution typically creates significant downward pressure on a stock's price, as it suggests the potential for a substantial increase in shares outstanding.
2. Continuation of an Existing Downward Trend
The stock was already experiencing a steep decline before the start of the specified period. By September 15, 2025, FG Nexus had plummeted over 68.33% from its August 15 high, indicating that significant negative sentiment and selling pressure were already in effect and continued into the requested timeframe.
3. Weakening Corporate Ethereum (ETH) Accumulation
Despite FG Nexus's strategy to become a major ETH holder, corporate Ethereum accumulation across the market weakened sharply, with on-chain data showing a significant pullback from August to November 2025. This broader trend could have undermined investor confidence in companies, like FGNX, whose core strategy is heavily tied to ETH holdings, contributing to the stock's decline.
4. Bearish Market Sentiment and Forecasts
As of early December 2025, market sentiment for FGNX was bearish, with technical indicators and forecasts suggesting further price drops. The Fear & Greed Index was in a state of "Fear," reflecting general market apprehension and potentially exacerbating selling pressure on the stock.
5. Persistent Low Trading Prices Relative to Annual Highs
Throughout the period, the stock consistently traded at significantly low single-digit dollar values, far below its 52-week high of $41.25. Daily historical data from late November and early December consistently show the stock struggling to maintain value, reflecting continuous selling pressure and a lack of catalysts to reverse the severe downtrend.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FGNX Return | - | - | - | - | - | - | |
| Peers Return | 18% | 14% | -11% | 8% | 1% | 3% | 35% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 112% |
Monthly Win Rates [3] | |||||||
| FGNX Win Rate | - | - | - | - | - | 0% | |
| Peers Win Rate | 50% | 40% | 28% | 45% | 38% | 36% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| FGNX Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -31% | -10% | -25% | -9% | -9% | -13% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: VRTS, SLRC, DHIL, GEG, FGNX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/5/2025 (YTD)
How Low Can It Go
FGNX has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -26.9% | -25.4% |
| % Gain to Breakeven | 36.7% | 34.1% |
| Time to Breakeven | 525 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -43.3% | -33.9% |
| % Gain to Breakeven | 76.5% | 51.3% |
| Time to Breakeven | 295 days | 148 days |
| 2018 Correction | ||
| % Loss | -26.1% | -19.8% |
| % Gain to Breakeven | 35.2% | 24.7% |
| Time to Breakeven | 338 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -83.7% | -56.8% |
| % Gain to Breakeven | 515.2% | 131.3% |
| Time to Breakeven | 4470 days | 1480 days |
Compare to
In The Past
SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 1/12/2022. A -26.9% loss requires a 36.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Trade Ideas
Select past ideas related to FGNX. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 7.4% | 7.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 12.2% | 12.2% | 0.0% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -0.8% | -0.8% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.4% | 0.4% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.8% | -7.8% | -11.0% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 7.4% | 7.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 12.2% | 12.2% | 0.0% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -0.8% | -0.8% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.4% | 0.4% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.8% | -7.8% | -11.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for FG Nexus
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 16.02 |
| Mkt Cap | 0.3 |
| Rev LTM | 100 |
| Op Inc LTM | 44 |
| FCF LTM | 1 |
| FCF 3Y Avg | 16 |
| CFO LTM | 1 |
| CFO 3Y Avg | 17 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.9% |
| Rev Chg 3Y Avg | 41.3% |
| Rev Chg Q | 8.2% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 20.5% |
| Op Mgn 3Y Avg | 18.9% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 2.6% |
| CFO/Rev 3Y Avg | 11.7% |
| FCF/Rev LTM | 2.6% |
| FCF/Rev 3Y Avg | 11.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.3 |
| P/S | 2.5 |
| P/EBIT | 6.0 |
| P/E | 9.3 |
| P/CFO | 8.0 |
| Total Yield | 15.6% |
| Dividend Yield | 4.3% |
| FCF Yield 3Y Avg | 5.8% |
| D/E | 0.8 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.8% |
| 3M Rtn | -14.7% |
| 6M Rtn | -1.4% |
| 12M Rtn | -8.8% |
| 3Y Rtn | 14.6% |
| 1M Excs Rtn | -1.4% |
| 3M Excs Rtn | -19.9% |
| 6M Excs Rtn | -15.9% |
| 12M Excs Rtn | -23.1% |
| 3Y Excs Rtn | -53.6% |
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/21/2025 | -0.4% | 26.6% | |
| 4/2/2025 | |||
| 11/14/2024 | |||
| 6/20/2024 | |||
| 3/14/2024 | |||
| 11/13/2023 | |||
| 8/10/2023 | |||
| 3/24/2023 | |||
| ... | |||
| SUMMARY STATS | |||
| # Positive | 0 | 1 | 0 |
| # Negative | 17 | 16 | 17 |
| Median Positive | 26.6% | ||
| Median Negative | -0.4% | ||
| Max Positive | 26.6% | ||
| Max Negative | -0.4% | ||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11142025 | 10-Q 9/30/2025 |
| 6302025 | 8072025 | 10-Q 6/30/2025 |
| 3312025 | 5142025 | 10-Q 3/31/2025 |
| 12312024 | 3312025 | 10-K 12/31/2024 |
| 9302024 | 11142024 | 10-Q 9/30/2024 |
| 6302024 | 8142024 | 10-Q 6/30/2024 |
| 3312024 | 5202024 | 10-Q 3/31/2024 |
| 12312023 | 3142024 | 10-K 12/31/2023 |
| 9302023 | 11092023 | 10-Q 9/30/2023 |
| 6302023 | 8102023 | 10-Q 6/30/2023 |
| 3312023 | 5122023 | 10-Q 3/31/2023 |
| 12312022 | 3242023 | 10-K 12/31/2022 |
| 9302022 | 11092022 | 10-Q 9/30/2022 |
| 6302022 | 8112022 | 10-Q 6/30/2022 |
| 3312022 | 5162022 | 10-Q 3/31/2022 |
| 12312021 | 3302022 | 10-K 12/31/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | Mitchell Michael C | 5212025 | Buy | 16.45 | 10,000 | 164,450 | 214,837 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |