Fermi Inc. (FRMI) AI Stock Analysis
Fermi Inc.
(NASDAQ:FRMI)
No summary available
Fermi Inc. (FRMI) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $1.67B
- Dividend Yield
- ―
- Average Volume (3M)
- 19.45M
- Price to Earnings (P/E)
- -1.9
- Beta (1Y)
- 1.76
- Revenue Growth
- ―
- EPS Growth
- ―
- Country
- US
- Employees
- 35
- Sector
- General
- Sector Strength
- 55
- Industry
- REIT - Specialty
Fermi Inc. Business Overview & Revenue Model
Company Description
Fermi Inc. is dedicated to establishing essential energy infrastructure. The company plans to build an integrated campus that combines energy production with data center facilities, designed to meet the significant requirements of forthcoming artific...
Fermi Inc. Earnings Call Summary
The call emphasized strong execution across the management team's 90-day priorities: a binding customer agreement (up to 650 MW / $6.5B initial revenue), on-site turbine deliveries, strategic alliances that double near-term capacity, and an upsized $431M convertible note (net ~$382M) improving liquidity. The primary remaining risks are typical for large infrastructure development — securing the finalized backstop, completing project finance, continued cash deployment (cash down ~50% this quarter), and execution/timing risk to hit 2027 first-power targets. On balance, achieved commercial validation, significant capacity acceleration via Hillcore, and strengthened leadership and balance sheet materially outweigh the outstanding development and financing risks.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management gave a clear, metric‑driven roadmap for near‑term delivery and financing: they signed a binding customer agreement for up to 650 MW (an initial 222 MW, 15‑year phase representing ~ $6.5B of revenue) and are finalizing a full 15‑year investment‑grade backstop; first 210 MW is targeted for July 1, 2027 with 640 MW nameplate by Q4‑2027, and additional 2028–29 objectives include three Siemens F‑class units (~728 MW total, >242 MW each) that ramp ~40 MW/min, reach full speed in ~5 minutes and carry ~99% fleet reliability. Phase 1 power hardware includes six Siemens SGT‑800s, three GE 6Bs, seven TM2500s plus 200 MW from Xcel; the Hillcore BOOT alliance adds ~2.6 GW within 3 years to double Project Matador to ~4.8 GW (supported by a ~6 GW air permit on a 330‑acre campus). Financially, Fermi upsized a >$430M convertible offering (5% due 2031, including a $56M option; net proceeds ≈ $382M), cites >$1.5B of tangible assets in ground and a 17 GW runway, and reiterated a staged capital plan with power CapEx ~ $3–4M/MW and turnkey data center CapEx ~ $10–12M/MW, with project finance and the backstop as near‑term execution milestones.
Fermi Inc. Risk Analysis
Fermi Inc. disclosed 148 risk factors in its most recent earnings report. Fermi Inc. reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
3 New RisksFermi Inc. Peers Comparison
Overall Rating
SMA67Neutral
FPI56Neutral
AFCG54Neutral
UNIT43Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SMA | 67Neutral | $2.17B | 71.40 | 2.45% | 4.38% | 21.10% | ― |
| FPI | 56Neutral | $353.88M | 34.98 | 2.17% | 6.29% | -5.57% | -85.35% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| AFCG | 54Neutral | $67.63M | 15.84 | 2.90% | 4.98% | -7.99% | ― |
| UNIT | 43Neutral | $1.23B | 1.01 | 270.16% | ― | 199.70% | 2008.88% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| FRMI | Fermi Inc. | 2.61 | -25.34 | -90.66% | |
| PW | Power REIT | 6.72 | -0.48 | -6.67% | |
| FPI | Farmland Partners | 8.43 | -1.18 | -12.26% | |
| UNIT | Uniti Group | 5.06 | -1.07 | -17.46% | |
| AFCG | Advanced Flower Capital Inc. | 3.01 | -0.10 | -3.06% | |
| SMA | SmartStop Self Storage REIT, Inc. | 36.53 | 3.76 | 11.46% |
Disclaimer
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