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Companies Financials FGMC.O
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FGMC.O NASDAQ Investment Holding Companies

FG Merger II Corp

$13,75
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Mcap
141,6M USD
P/E
74,5x
EV / Rev
Div yield
Op margin
ROE
Net margin
Debt / equity
5,94
Beta
52w range
Volume
827
Day range
$10,32–$10,34
Prev close
$10,33
Open
$10,33
Next earnings
2026-10-28
Ex-dividend
TR 1Y
About

FG Merger II Corp is a special purpose acquisition company (SPAC) that raises capital through an initial public offering (IPO) to acquire an existing private company, with the goal of taking it public.

Business. FG Merger II Corp (FGMC.O) is an investment holding company listed on the NASDAQ. The firm operates within the Financials sector, specifically classified under Investment Holding Companies. No specific operating segments or headquarters location are provided in the available data.

Classification92 %
SectorFinancials
Business sectorInvestment Holding Companies
Generated · model-assisted
Sell-side consensus
consensus pending
— buy— hold— sell
Avg 12m price target
Upcoming events
  • EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
See all catalysts →

At a glance

Score
not yet scored
Valuation
74,5x
P/E
Analysts
not yet wired
Ownership
JPMorgan Private Bank (United States)
largest disclosed fund holder
Profitability
not yet wired
Quality
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning FGMC.
  • Sector rotation

    Sector1D1Mvs mkt
    Materials+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials · THIS SECTOR−0,3 %−2,8 %−0,9 %
    Consumer Staples−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to FGMC.O. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Company
    • EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    FG Merger II Corp (FGMC.O) is an investment holding company listed on the NASDAQ. The firm operates within the Financials sector, specifically classified under Investment Holding Companies. No specific operating segments or headquarters location are provided in the available data.

    Classification92 %
    SectorFinancials
    Business sectorInvestment Holding Companies
    AI synthesis
    GENERATED

    FG Merger II Corp has a highly leveraged capital structure, with a debt-to-equity ratio of 5.94, indicating that the company is financed predominantly through debt. The company's liquidity position is moderate, as reflected by a current ratio of 1.14, suggesting that it has just enough current assets to cover its current liabilities. The price-to-book ratio is extremely high at 5050.03, which is typical for SPACs due to their shell company status and lack of tangible assets.

    The company's profitability metrics are not meaningful in the traditional sense, as SPACs typically do not generate operating income before a business combination. However, the operating cash flow is negative at -$1.5 million, which is expected for a SPAC in its pre-merger phase. The company's return on invested capital (ROIC) and other traditional profitability metrics are not available, as the company has not yet completed a business combination.

    FG Merger II Corp's revenue is not disclosed in the financial snapshot, as it is a SPAC and has not yet completed a business combination. The company's operations are not segmented by geography or product, as it is a shell company with no active business operations. The company's shares are listed on the stock market, and its market capitalization is approximately $106.25 million.

    The company's growth trajectory is contingent on the success of its business combination. The company has not disclosed any specific targets or timelines for a merger, and its future growth is highly speculative. The company's shares are currently trading at $10.32, and its market capitalization is relatively small compared to industry peers.

    The company's risk profile is moderate, with a liquidity risk rating of medium and a dilution risk rating of low. The company's key risk flag is that its net cash is negative after subtracting total debt, which could limit its ability to complete a business combination without additional financing. The company has not disclosed any significant dilution risks in the near term, and its shares outstanding have not changed significantly in the recent period.

    Recent events related to FG Merger II Corp include the filing of its latest financial statements and the continued search for a business combination target. The company has not disclosed any material developments in its merger process, and its shares remain in the pre-merger phase. The company's management has not provided any guidance on the timing or terms of a potential business combination.

    Key takeaways
    • FG Merger II Corp is a SPAC with a highly leveraged capital structure and a debt-to-equity ratio of 5.94.
    • The company's liquidity position is moderate, with a current ratio of 1.14 and a negative operating cash flow of -$1.5 million.
    • The company's price-to-book ratio is extremely high at 5050.03, which is typical for SPACs.
    • The company's growth trajectory is contingent on the success of its business combination, and its future performance is highly speculative.
    • The company's risk profile is moderate, with a liquidity risk rating of medium and a dilution risk rating of low.

    Bull / Bear case

    Generated · model-assisted
    — missing data

    In focus — financials by report

    Valuation FY

    Market price
    $13,75
    Market cap
    $106.3M
    Enterprise value
    $106.4M
    P/E
    74.5x
    Non-GAAP P/E
    EV / Revenue
    EV / Op income
    EV / OCF
    P / B
    5050.0x
    P / Tangible book
    5050.0x
    Tangible book
    $21.0k
    Net cash
    -$125.0k
    Current ratio
    1.1
    Debt / equity
    5.9
    ROA
    ROE
    Cash conversion
    CapEx / revenue
    SBC / revenue
    Dilution ratio
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    — missing data

    Supply chain

    — missing data

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    — missing data

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskLow
    Liquidity riskMedium
    Filing-based flags
    • Net cash is negative after subtracting total debt.

    Benchmarks vs cohort

    D/E5,94Bottom quartile

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    — missing data

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    How metrics are computed
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Market Price
      input from market-data provider (delayed close or quote-shim mid)
    • Market Cap
      market_price * shares_outstanding_diluted
    • Net Cash
      cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
    • Enterprise Value
      market_cap - net_cash
    • Price To Tangible Book
      market_price / (tangible_book_value / shares_outstanding_diluted)
    Source documents
    • FG Merger II Corp Market data — financials · 2026-05-27

    Ownership & reference

    Top holders

    • JPMorgan Private Bank (United States)Investment Managers · as of 2026-03-310,45 %$7M
    • UBS Financial Services, Inc.Investment Managers · as of 2026-03-310,00 %$0M
    • Morgan Stanley Smith Barney LLCInvestment Managers · as of 2026-03-310,00 %$0M

    Insider activity

    — missing data

    Short positioning

    270.8Kshares short-1.4% vs prior
    6.23days to cover
    46.1%short of daily vol
    106fails-to-deliver
    as of 2026-07-15 · short-interest report (free)

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    FGMC.OCanonical
    NASDAQ · USD

    Intel & risk

    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskMedium
    Net cash is negative after subtracting total debt.

    Evidence & claims

    From filings & derived data
    • Return on assets (FY 2025-12-31): 1.7%Derived (calculated)
    • Total assets (YoY) (2025-12-31 vs 2024-12-31): 48,837.4%Derived (calculated)
    • Debt-to-equity (FY 2025-12-31): 0.50xDerived (calculated)
    • Net income (YoY) (2025-12-31 vs 2024-12-31): 5,620.2%Derived (calculated)
    • Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 14,998.7%Derived (calculated)
    • Operating income (YoY) (2025-12-31 vs 2024-12-31): -3,660.8%Derived (calculated)
    • Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 14,899.7%Derived (calculated)
    • Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 13.5%Derived (calculated)
    • Return on equity (FY 2025-12-31): 366.3%Derived (calculated)
    • Current assets (annual): USD 584.45KSEC XBRL filing
    • Total liabilities (annual): USD 194.92KSEC XBRL filing
    • Shareholders' equity (annual): USD 389.53KSEC XBRL filing
    • Net income (annual): USD 1.43MSEC XBRL filing
    • Operating income (annual): USD -972.16KSEC XBRL filing
    • Total assets (annual): USD 82.72MSEC XBRL filing
    • Operating cash flow (annual): USD 1.48MSEC XBRL filing
    • Pre-tax income (annual): USD 2.06MSEC XBRL filing
    • Total assets (YoY) (2024-12-31 vs 2023-12-31): -1.1%Derived (calculated)
    • Total liabilities (YoY) (2024-12-31 vs 2023-12-31): 16.2%Derived (calculated)
    • Return on equity (FY 2024-12-31): 982.1%Derived (calculated)
    • Return on assets (FY 2024-12-31): -15.3%Derived (calculated)
    • Debt-to-equity (FY 2024-12-31): -65.22xDerived (calculated)
    • Shareholders' equity (YoY) (2024-12-31 vs 2023-12-31): -111.3%Derived (calculated)
    • Current assets (annual): USD 169.03KSEC XBRL filing
    Showing 24 of 37 surfaced claims.
    Atomic claims from regulatory filings and derived calculations. Provenance shown as source kind only.

    The Thread

    Everything we know, in order
    2026-10-28EVENTUpcomingQ3 2026 earnings (expected) estimated date
    2026-07-24 00:00 UTCTRANSCRIPTEarnings call — Q3 2026
    2026-07-24EVENTQ2 2026 earnings (expected) estimated date
    2026-06-08FILINGFORM 8-K →
    2026-05-29FILINGFORM 8-K →
    2026-05-14FILING10-Q filing →
    2026-05-13FILINGFORM 8-K →
    2026-05-13FILING424B3 filing →
    2026-04-10FILINGFORM 8-K →
    2026-03-31FILING10-K filing →
    2025-11-05FILING10-Q filing →
    2025-11-04FILINGFORM 8-K →
    2025-08-22FILINGFORM 8-K →
    2025-08-05FILINGFORM 8-K →
    2025-07-25FILING10-Q filing →
    2025-04-01 00:00 UTCINSIDER1 insider transaction — 2025-04 1 derivative
    2025-03-13 00:00 UTCINSIDER6 insider transactions — 2025-03 6 derivative
    2025-01-30 00:00 UTCINSIDER3 insider transactions — 2025-01 2 derivative
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage