Forge Global [FRGE] vs Sharplink Gaming [SBET] Detailed Stock Comparison

Forge Global Holdings Inc.

NYSE
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Sharplink Gaming Inc.

NASDAQ
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TLDR: Quick Comparison Summary

Based on 19 vital metrics comparison: Forge Global Holdings Inc. wins in 10 metrics, Sharplink Gaming Inc. wins in 8 metrics, with 1 ties. Forge Global Holdings Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Forge Global Holdings Inc. Sharplink Gaming Inc. Better
P/E Ratio (TTM) 36.33 0.50 Sharplink Gaming Inc.
Price-to-Book Ratio 3.04 0.59 Sharplink Gaming Inc.
Debt-to-Equity Ratio 2.20 0.00 Tie
PEG Ratio -4.19 3.67 Sharplink Gaming Inc.
EV/EBITDA -8.98 -1.93 Sharplink Gaming Inc.
Profit Margin (TTM) -67.42% 93.22% Sharplink Gaming Inc.
Operating Margin (TTM) -95.46% -4,657.07% Forge Global Holdings Inc.
Return on Equity -28.25% -60.68% Forge Global Holdings Inc.
Return on Assets (TTM) -15.20% -37.69% Forge Global Holdings Inc.
Free Cash Flow (TTM) $-41.62M $-17.55M Sharplink Gaming Inc.
1-Year Return 361.54% -92.03% Forge Global Holdings Inc.
Price-to-Sales Ratio (TTM) 6.71 51.37 Forge Global Holdings Inc.
Enterprise Value $565.57M $1.41B Sharplink Gaming Inc.
EV/Revenue Ratio 6.09 50.35 Forge Global Holdings Inc.
Gross Profit Margin (TTM) -25.51% 97.63% Sharplink Gaming Inc.
Revenue per Share (TTM) $7 $0 Forge Global Holdings Inc.
Earnings per Share (Diluted) $-4.90 $-7.27 Forge Global Holdings Inc.
Beta (Stock Volatility) 2.23 11.76 Forge Global Holdings Inc.
Short % of Float 7.28% 12.15% Forge Global Holdings Inc.

Forge Global Holdings Inc. vs Sharplink Gaming Inc. Stock Performance Analysis

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FRGE
SBET

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Forge Global Holdings Inc.0.00%0.90%0.76%1.40%150.42%1.24%
Sharplink Gaming Inc.-4.65%-7.67%-26.82%-23.69%-47.69%-42.83%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Forge Global Holdings Inc.361.54%80.72%-70.12%324.53%324.53%324.53%
Sharplink Gaming Inc.-92.03%-83.52%-99.12%-99.21%-99.38%-99.86%

Performance & Financial Health Analysis: Forge Global Holdings Inc. vs Sharplink Gaming Inc.

MetricFRGESBET
Market Information
Market Cap i$623.01M$1.44B
Market Cap CategorySmall capSmall cap
10 Day Avg. Volume i114,4438,489,286
90 Day Avg. Volume i153,8887,228,912
Last Close$45.00$5.54
52 Week Range$6.60 - $45.03$5.53 - $82.70
% from 52W High-0.07%-93.30%
All-Time High$47.50 (Mar 28, 2022)$710.00 (Mar 06, 2000)
% from All-Time High-5.26%-99.22%
Growth Metrics
Quarterly Revenue Growth0.11%18.16%
Quarterly Earnings Growth0.11%18.15%
Financial Health
Profit Margin (TTM) i-0.67%0.93%
Operating Margin (TTM) i-0.95%-46.57%
Return on Equity (TTM) i-0.28%-0.61%
Debt to Equity (MRQ) i2.200.00
Cash & Liquidity
Book Value per Share (MRQ)$14.80$12.30
Cash per Share (MRQ)$4.49$0.15
Operating Cash Flow (TTM) i$-39,859,000$-17,579,000
Levered Free Cash Flow (TTM) i$-8,054,250$-417,765,120
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 Sharplink Gaming Inc.

MetricFRGE (Mar 15, 2026)SBET (Apr 26, 2026)
Price Ratios
P/E Ratio (TTM) i36.330.50
Forward P/E i-28.543.67
PEG Ratio i-4.193.67
Price to Sales (TTM) i6.7151.37
Price to Book (MRQ) i3.040.59
Market Capitalization
Market Capitalization i$623.01M$1.44B
Enterprise Value i$565.57M$1.41B
Enterprise Value Metrics
Enterprise to Revenue i6.0950.35
Enterprise to EBITDA i-8.98-1.93
Risk & Other Metrics
Beta i2.2311.76
Book Value per Share (MRQ) i$14.80$12.30

Financial Statements Comparison: Forge Global Holdings Inc. vs Sharplink Gaming Inc.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricFRGE (2024)SBET (2025)
Revenue/Sales i79.33M28.06M
Cost of Goods Sold i113.67M1.90M
COGS % of Revenue i143.3%6.8%
Gross Profit i-34.34M26.15M
Gross Margin i-43.3%93.2%
Research & Development iN/AN/A
Operating Income (EBIT) i-82.26M-32.75M
Operating Margin i-103.7%-116.7%
EBITDA i-82.38M-32.29M
EBITDA Margin i-103.8%-115.1%
Pre-Tax Income i-66.78M-733.47M
Pre-Tax Income % of Revenue i-84.2%-2,614.4%
Income Tax i1.07M1.05M
Income Tax % of Revenue i1.3%3.7%
Net Income (Profit) i-67.84M-734.59M
Profit Margin i-85.5%-2,618.4%

Balance Sheet & Liquidity Metrics

MetricFRGE (2024)SBET (2025)
Cash & Equivalents i105.14M28.54M
Total Current Assets i119.17M31.15M
Total Current Assets % of Revenue i150.2%111.0%
Total Current Liabilities i25.14M12.75M
Total Current Liabilities % of Revenue i31.7%45.4%
Long-Term Debt i11.11MN/A
Long-Term Debt % of Revenue i14.0%0.0%
Total Shareholders Equity i226.74M2.42B
Retained Earnings i-346.97M-812.40M
Retained Earnings % of Revenue i-437.4%-2,895.7%
Property, Plant & Equipment i5.11MN/A

Cash Flow Statement Comparison

MetricFRGE (2024)SBET (2025)
Operating Cash Flow i-31.22M-780.58M
Operating Cash Flow % of Revenue i-39.4%-2,782.3%
Capital Expenditures i-792,000N/A
Free Cash Flow i-41.62M-17.55M
FCF Margin i-52.5%-62.6%
Debt Repayment iN/A0
Common Stock Repurchase iN/A-31.69M

Short Interest & Institutional Ownership Analysis

MetricFRGESBET
Shares Short i765,98223.89M
Short Ratio i4.993.64
Short % of Float i7.28%12.15%
Shares Outstanding i13.69M196.70M
Float Shares i10.14M184.71M
% Held by Insiders i24.49%9.74%
% Held by Institutions i56.25%49.82%
% Held by Public i19.26%40.44%

Dividend Analysis & Yield Comparison: Forge Global Holdings Inc. vs Sharplink Gaming Inc.

MetricFRGESBET
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