Forge Global [FRGE] vs Bitfarms [BITF] Detailed Stock Comparison

Forge Global Holdings Inc.

NYSE
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Bitfarms Ltd.

NASDAQ
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TLDR: Quick Comparison Summary

Based on 19 vital metrics comparison: Forge Global Holdings Inc. wins in 12 metrics, Bitfarms Ltd. wins in 6 metrics, with 0 ties. Forge Global Holdings Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Forge Global Holdings Inc. Bitfarms Ltd. Better
P/E Ratio (TTM) 36.33 -6.33 Forge Global Holdings Inc.
Price-to-Book Ratio 3.04 4.89 Forge Global Holdings Inc.
Debt-to-Equity Ratio 2.20 1.22 Bitfarms Ltd.
PEG Ratio -4.19 -198.00 Forge Global Holdings Inc.
EV/EBITDA -8.98 -98.44 Forge Global Holdings Inc.
Profit Margin (TTM) -67.42% -8.25% Bitfarms Ltd.
Operating Margin (TTM) -95.46% -85.77% Bitfarms Ltd.
Return on Equity -28.25% -37.21% Forge Global Holdings Inc.
Return on Assets (TTM) -15.20% -16.08% Forge Global Holdings Inc.
Free Cash Flow (TTM) $-41.62M $-347.06M Forge Global Holdings Inc.
1-Year Return 361.54% 517.39% Bitfarms Ltd.
Price-to-Sales Ratio (TTM) 6.71 8.68 Forge Global Holdings Inc.
Enterprise Value $565.57M $2.10B Bitfarms Ltd.
EV/Revenue Ratio 6.09 9.16 Forge Global Holdings Inc.
Gross Profit Margin (TTM) -25.51% -32.39% Forge Global Holdings Inc.
Revenue per Share (TTM) $7 $0 Forge Global Holdings Inc.
Earnings per Share (Diluted) $-4.90 $-0.38 Bitfarms Ltd.
Beta (Stock Volatility) 2.23 N/A N/A
Short % of Float 7.28% 11.55% Forge Global Holdings Inc.

Forge Global Holdings Inc. vs Bitfarms Ltd. Stock Performance Analysis

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FRGE
BITF

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Forge Global Holdings Inc.0.00%0.90%0.76%1.40%150.42%1.24%
Bitfarms Ltd.0.66%19.69%88.92%185.58%98.06%136.15%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Forge Global Holdings Inc.361.54%80.72%-70.12%324.53%324.53%324.53%
Bitfarms Ltd.517.39%369.42%25.94%531.11%531.11%531.11%

Performance & Financial Health Analysis: Forge Global Holdings Inc. vs Bitfarms Ltd.

MetricFRGEBITF
Market Information
Market Cap i$623.01M$1.99B
Market Cap CategorySmall capSmall cap
10 Day Avg. Volume i114,44333,914,173
90 Day Avg. Volume i153,88833,438,806
Last Close$45.00$6.14
52 Week Range$6.60 - $45.03$0.70 - $6.60
% from 52W High-0.07%-6.97%
All-Time High$47.50 (Mar 28, 2022)$10.00 (Dec 28, 2020)
% from All-Time High-5.26%-38.60%
Growth Metrics
Quarterly Revenue Growth0.11%-0.27%
Quarterly Earnings Growth0.11%-0.11%
Financial Health
Profit Margin (TTM) i-0.67%-0.08%
Operating Margin (TTM) i-0.95%-0.86%
Return on Equity (TTM) i-0.28%-0.37%
Debt to Equity (MRQ) i2.201.22
Cash & Liquidity
Book Value per Share (MRQ)$14.80$0.41
Cash per Share (MRQ)$4.49N/A
Operating Cash Flow (TTM) i$-39,859,000$-348,225,000
Levered Free Cash Flow (TTM) i$-8,054,250$-208,514,000
Dividends
Last 12-Month Dividend Yield iN/AN/A
Last 12-Month Dividend iN/AN/A

Valuation & Enterprise Metrics Analysis: Forge Global Holdings Inc. vs Bitfarms Ltd.

MetricFRGE (Mar 15, 2026)BITF (Apr 26, 2026)
Price Ratios
P/E Ratio (TTM) i36.33-6.33
Forward P/E i-28.54-198.00
PEG Ratio i-4.19-198.00
Price to Sales (TTM) i6.718.68
Price to Book (MRQ) i3.044.89
Market Capitalization
Market Capitalization i$623.01M$1.99B
Enterprise Value i$565.57M$2.10B
Enterprise Value Metrics
Enterprise to Revenue i6.099.16
Enterprise to EBITDA i-8.98-98.44
Risk & Other Metrics
Beta i2.23N/A
Book Value per Share (MRQ) i$14.80$0.41

Financial Statements Comparison: Forge Global Holdings Inc. vs Bitfarms Ltd.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricFRGE (2024)BITF (2025)
Revenue/Sales i79.33M229.28M
Cost of Goods Sold i113.67M248.18M
COGS % of Revenue i143.3%108.2%
Gross Profit i-34.34M-18.90M
Gross Margin i-43.3%-8.2%
Research & Development iN/AN/A
Operating Income (EBIT) i-82.26M-97.24M
Operating Margin i-103.7%-42.4%
EBITDA i-82.38M-21.34M
EBITDA Margin i-103.8%-9.3%
Pre-Tax Income i-66.78M-208.41M
Pre-Tax Income % of Revenue i-84.2%-90.9%
Income Tax i1.07M101,000
Income Tax % of Revenue i1.3%0.0%
Net Income (Profit) i-67.84M-208.51M
Profit Margin i-85.5%-90.9%

Balance Sheet & Liquidity Metrics

MetricFRGE (2024)BITF (2025)
Cash & Equivalents i105.14M573.46M
Total Current Assets i119.17M826.47M
Total Current Assets % of Revenue i150.2%360.5%
Total Current Liabilities i25.14M148.11M
Total Current Liabilities % of Revenue i31.7%64.6%
Long-Term Debt i11.11M585.03M
Long-Term Debt % of Revenue i14.0%255.2%
Total Shareholders Equity i226.74M560.38M
Retained Earnings i-346.97M-612.48M
Retained Earnings % of Revenue i-437.4%-267.1%
Property, Plant & Equipment i5.11M367.24M

Cash Flow Statement Comparison

MetricFRGE (2024)BITF (2025)
Operating Cash Flow i-31.22M-348.23M
Operating Cash Flow % of Revenue i-39.4%-151.9%
Capital Expenditures i-792,000-85.90M
Free Cash Flow i-41.62M-347.06M
FCF Margin i-52.5%-151.4%
Debt Repayment iN/A-1.61M
Common Stock Repurchase iN/A-9.95M

Short Interest & Institutional Ownership Analysis

MetricFRGEBITF
Shares Short i765,98267.42M
Short Ratio i4.992.29
Short % of Float i7.28%11.55%
Shares Outstanding i13.69M601.58M
Float Shares i10.14MN/A
% Held by Insiders i24.49%4.61%
% Held by Institutions i56.25%40.00%
% Held by Public i19.26%55.39%

Dividend Analysis & Yield Comparison: Forge Global Holdings Inc. vs Bitfarms Ltd.

MetricFRGEBITF
Last 12-Month Dividend iN/AN/A
Last 12-Month Dividend Yield iN/AN/A
3-Year Avg Annual Dividend iN/AN/A
3-Year Avg Dividend Yield iN/AN/A
3-Year Total Dividends iN/AN/A
Ex-Dividend DateN/AN/A