FG Merger II Corp. Common stock (FGMC)

FairStock Score: 41/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as a Graham-style exercise, not as a speculation on a merger pop. FG Merger II Corp. is described as having no significant operations; it was incorporated in 2023, is based in Itasca, Illinois, and as of July 17, 2026, was acquired by Boxabl Inc in a reverse merger. That means the reported financials are not those of a seasoned operating business. FairStock's calculations at the 2026-09-17 close of $4.09 show a P/E of 34.08 and a P/B of 275.26, which tell me investors are paying a lot relative to the modest earnings and tiny book value in the data. The ROE of 1028.84% is likely distorted by a very small equity base, while ROCE of -0.85% suggests the capital employed is not producing positive operating returns. The Piotroski F-Score is only 2/9, and FairStock assigns no Lynch category because there are only 0 years of filed results, with 3 needed. The Altman Z-Score of 172.37 is almost certainly inflated by the shell's balance-sheet structure and should not be read as a normal safety signal. On the positive side, trailing 12-month free cash flow is $1.7M, a 1.7% FCF yield, and FairStock's Graham Number of $4.66 gives a 12.23% margin of safety at that close. Profit growth in the supplied data is -8.75%, and revenue growth is not available. There is no durable moat here; the investment case rests entirely on what Boxabl's post-merger operating business becomes. Until real revenue, earnings, and cash flow are filed over multiple periods, I can only treat this as a speculative shell with limited historical evidence and a full-looking price.

In plain English: FG Merger II is a company with no significant operations; the description says it was acquired by Boxabl in a merger deal in July 2026. Its business looks weak because it has almost no operating history and very little reported profit or assets compared with its market value. At $4.09, the price looks expensive compared with those numbers, though the stock is near the low end of its 52-week range.

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Data as of 2026-09-17 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer