Forum Markets, Incorporated (FRMM) Balance Sheet
FRMM balance sheet, 2025
December 31, 2025 · U.S. dollars$306.3M assets = $66.9M liabilities + $239.4M equity
Both columns are drawn to the same scale: what FRMM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FRMM financial health
Descriptive bands, not a rating. Fiscal 2025.
FRMM balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $62.7M2021 | $306.3M2025 | +48.7%/yr | |
| Total liabilities | $23.4M2021 | $66.9M2025 | +30.0%/yr | |
| Shareholders’ equity | $39.3M2021 | $239.4M2025 | +57.1%/yr | |
| Cash & short-term investments | $8.2M2021 | $8.0M2025 | −0.6%/yr | |
| Total debt | $48,1652021 | $26.2M2025 | +382.9%/yr | |
| Net cash (debt) | $8.2M2021 | −$18.2M2025 | −$26.4M | |
| Working capital | −$8.5M2021 | −$27.4M2025 | −$18.9M | |
| Book value per share | $2.912024 | $29.322025 | +906.9%/yr | |
| Current ratio | 0.572021 | 0.332025 | −0.24 | |
| Debt / equity | 0.002021 | 0.112025 | +0.11 | |
| Shares outstanding | 3.2M2024 | 8.2M2025 | +157.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FRMM assets
FRMM liabilities and equity
FRMM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FRMM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $8.0M | $4.6M | $2.0M | $7.0M | $8.2M |
| Cash & equivalents | $8.0M | $4.6M | $2.0M | $7.0M | $8.2M |
| Receivables | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $5.6M | $575,000 | $1.7M | $2.0M | $3.0M |
| Total current assets | $13.6M | $5.1M | $3.6M | $8.9M | $11.2M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $7.6M | $1.6M | $10.7M | $51.5M |
| Long-term investments | $50.1M | $0 | $0 | $0 | $0 |
| Other non-current assets | $242.6M | $0 | $0 | $0 | $0 |
| Total assets | $306.3M | $12.8M | $5.3M | $19.7M | $62.7M |
| Liabilities | |||||
| Accounts payable | $1.5M | $306,000 | $1.9M | $1.8M | $586,611 |
| Short-term debt | $251,000 | — | — | — | — |
| Total current liabilities | $40.9M | $3.5M | $5.1M | $5.7M | $19.7M |
| Long-term debt | $25.9M | $6,616 | $19,936 | $31,189 | $48,165 |
| Other long-term liabilities | $0 | $384 | $304,657 | $2.6M | $3.6M |
| Total liabilities | $66.9M | $3.5M | $5.4M | $8.3M | $23.4M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $2,000 | — | — | — | — |
| Retained earnings (deficit) | −$592.0M | −$141.5M | −$127.3M | −$107.4M | −$68.7M |
| Accumulated other comprehensive income | −$3.0M | — | — | — | — |
| Total shareholders' equity | $239.4M | $9.3M | −$127,733 | $11.3M | $39.3M |
| Key figures | |||||
| Total debt | $26.2M | $6,616 | $19,936 | $31,189 | $48,165 |
| Net cash (debt) | −$18.2M | $4.6M | $2.0M | $6.9M | $8.2M |
| Working capital | −$27.4M | $1.6M | −$1.4M | $3.3M | −$8.5M |
| Tangible book value | $239.4M | $1.6M | −$1.7M | $622,060 | −$12.2M |
| Book value per share | $29.32 | $2.91 | — | — | — |
| Shares outstanding | 8.2M | 3.2M | — | — | — |
| Current ratio | 0.33 | 1.47 | 0.72 | 1.58 | 0.57 |
| Quick ratio | 0.20 | 1.30 | 0.39 | 1.23 | 0.42 |
| Debt / equity | 0.11 | 0.00 | — | 0.00 | 0.00 |
| Equity / assets | 78.2% | 72.5% | −2.4% | 57.7% | 62.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $4.1M | $65.9M | $8.0M | $558.9M | $2.2M | $3.7M | $4.6M | $194,920 |
| Cash & equivalents | $4.1M | $65.9M | $8.0M | $558.9M | $2.2M | $3.7M | $4.6M | $194,920 |
| Receivables | $4.0M | $11.8M | $0 | $32,412 | $10,781 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $6.1M | $4.8M | $5.6M | $3.0M | $802,708 | $304,226 | $575,000 | $1.0M |
| Total current assets | $14.2M | $82.5M | $13.6M | $561.9M | $3.0M | $4.0M | $5.1M | $1.2M |
| Property, plant & equipment (net) | $19.2M | $19.3M | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $21.6M | $0 | $0 | $0 | $7.6M | $7.6M | $7.6M | $9.2M |
| Long-term investments | $44.0M | $31.8M | $50.1M | $8.8M | $0 | $0 | $0 | $0 |
| Other non-current assets | $60.0M | $74.0M | $242.6M | $438.5M | $60,300 | $0 | $0 | $0 |
| Total assets | $159.0M | $207.6M | $306.3M | $1.01B | $10.7M | $11.7M | $12.8M | $10.5M |
| Liabilities | ||||||||
| Accounts payable | $570,000 | $436,000 | $1.5M | $1.2M | $2.2M | $2.1M | $306,000 | $2.1M |
| Short-term debt | — | $1.2M | — | $50.5M | $1.4M | — | — | — |
| Total current liabilities | $5.3M | $13.3M | $40.9M | $55.8M | $5.3M | $3.9M | $3.5M | $6.4M |
| Long-term debt | $25.9M | $25.9M | $25.9M | $496.3M | $0 | $3,425 | $6,616 | $10,574 |
| Lease obligations | $0 | $903,000 | — | — | — | — | — | — |
| Other long-term liabilities | $0 | $0 | $0 | $12.1M | $0 | $0 | $384 | $341,678 |
| Total liabilities | $31.2M | $39.3M | $66.9M | $564.2M | $5.3M | $3.9M | $3.5M | $6.7M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $1,000 | $2,000 | — | $1,666 | $604 | — | — | — |
| Retained earnings (deficit) | −$681.1M | −$668.3M | −$592.0M | −$362.4M | −$145.6M | −$143.9M | −$141.5M | −$129.2M |
| Accumulated other comprehensive income | −$3.2M | −$3.2M | — | −$2.6M | −$3.1M | — | — | — |
| Total shareholders' equity | $127.8M | $168.3M | $239.4M | $445.1M | $5.4M | $7.7M | $9.3M | $3.7M |
| Key figures | ||||||||
| Total debt | $25.9M | $27.1M | $25.9M | $546.8M | $1.4M | $3,425 | $6,616 | $10,574 |
| Net cash (debt) | −$21.8M | $38.8M | −$17.9M | $12.1M | $805,886 | $3.7M | $4.6M | $184,346 |
| Working capital | $8.9M | $69.2M | −$27.4M | $506.2M | −$2.3M | $86,956 | $1.6M | −$5.2M |
| Tangible book value | $106.2M | $168.3M | $239.4M | $445.1M | −$2.2M | $83,531 | $1.6M | −$5.5M |
| Book value per share | $7.49 | $7.90 | $12.56 | $35.85 | — | $1.49 | $2.91 | — |
| Shares outstanding | 17.1M | 21.3M | 19.1M | 12.4M | — | 5.2M | 3.2M | — |
| Current ratio | 2.69 | 6.19 | 0.33 | 10.07 | 0.57 | 1.02 | 1.47 | 0.19 |
| Quick ratio | 1.53 | 5.83 | 0.20 | 10.02 | 0.42 | 0.94 | 1.30 | 0.03 |
| Debt / equity | 0.20 | 0.16 | 0.11 | 1.23 | 0.26 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 80.4% | 81.1% | 78.2% | 44.1% | 50.2% | 66.1% | 72.5% | 35.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 1, 2026); data from EODHD.
FRMM financial position
At the end of fiscal 2025 (December 31, 2025), Forum Markets had total assets of $306.3 million (up 2,299.7% from a year earlier), total liabilities of $66.9 million and shareholders' equity of $239.4 million. It held $8.0 million in cash and short-term investments against $26.2 million of debt, net debt of $18.2 million. Its current ratio was 0.33. In the latest quarter (ended June 30, 2026) total assets were $159.0 million and equity $127.8 million.
Related: FRMM income statement, FRMM cash flow statement, FRMM key metrics. See the FRMM stock overview for the latest quote and news.
FRMM balance sheet FAQ
What are Forum Markets's total assets?
Forum Markets reported total assets of $306.3 million at the end of fiscal 2025 (December 31, 2025), compared with $12.8 million a year earlier.
How much debt does Forum Markets have?
Forum Markets had $26.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.11.
How much cash does Forum Markets have?
Forum Markets held $8.0 million in cash and short-term investments at the end of fiscal 2025; with $26.2 million of debt that is net debt of $18.2 million.
What is Forum Markets's book value?
Forum Markets's shareholders' equity (book value) was $239.4 million at the end of fiscal 2025, or $29.32 per share.
What is Forum Markets's current ratio?
Forum Markets had current assets of $13.6 million and current liabilities of $40.9 million, a current ratio of 0.33 (current liabilities exceed current assets).