Fermi Past Earnings Performance
Past criteria checks 0/6
There is insufficient data on Fermi's performance over the last few years.
Key information
n/a
Earnings growth rate
n/a
EPS growth rate
| Specialized REITs Industry Growth | 18.00% |
| Revenue growth rate | n/a |
| Return on equity | -67.32% |
| Net Margin | n/a |
| Last Earnings Update | 30 Jun 2026 |
Recent past performance updates
Recent updates
Fermi: Hyper Moore's Law For Power May Dwarf The Governance Issues
Summary Fermi Inc. is rated Strong Buy, with a transformative tenant deal and major project catalysts sharply improving its risk-reward profile. FRMI's turbine and permit capacity position it to capture surging AI compute demand. Governance drama has eased, and Fermi 2.0 delivered, opening the path for further tenant signings and a re-rating. Near-term price targets of $30-40 are supported by GW-to-revenue math, with blue-sky scenarios offering 50-100x upside if execution continues. Read the full article on Seeking Alpha
FRMI: First Project Matador Lease And Turbine Milestone Will Drive Repricing
Fermi's analyst price target has shifted lower, with new estimates around $17 that reflect updated assumptions on the timing of tenant signings, higher expected capex for turnkey requirements, and analysts' continued view of the stock as a high-risk, high-reward, pre-revenue story. Analyst Commentary Recent Street research on Fermi shows a mix of optimism about potential tenant signings and caution around execution risk, valuation resets, and the timing of cash flows for this pre revenue story.FRMI: Future Lease Win At Project Matador Will Drive Repricing
The analyst price target for Fermi has been cut from $23.11 to $19.00 as analysts factor in continued contract timing uncertainty and recent target reductions from $29 to $17 and from $20 to $11, even as they acknowledge potential upside if a large initial lease is secured. Analyst Commentary Recent research on Fermi highlights a split between optimism around its potential data center leases and caution around execution risk, reflected in the series of reduced price targets and rating changes.Fermi (FRMI) Stock Could Be 65.9% Undervalued After OpenAI Lease Reports
Fermi (FRMI) stock has been in focus after reports that OpenAI may lease capacity at its Project Matador campus, while a parallel proxy fight with former CEO Toby Neugebauer adds a governance angle for investors. See our latest analysis for Fermi. The recent OpenAI headlines and the escalating proxy dispute have coincided with a sharp swing in sentiment toward Fermi. The stock’s 7 day share price return of 14.37% and 30 day share price return of 20.31% contrast with a weaker year to date...
Gas Power Permits And Tenant Delays Will Eventually Support Large Scale AI Infrastructure
Catalysts About Fermi Fermi develops and finances large scale power and data center infrastructure to serve energy intensive computing and artificial intelligence customers. What are the underlying business or industry changes driving this perspective?Surging AI Power Demand And Scarce Grid Capacity Will Support Long Term Tenant Contracts
Catalysts About Fermi Fermi is building a large scale private power grid and related infrastructure to supply electricity to energy intensive tenants such as data centers and chip ecosystem players. What are the underlying business or industry changes driving this perspective?
Large Scale AI Power Infrastructure Will Transform Long Term Cash Flows And Tenant Demand
Catalysts About Fermi Fermi develops large scale power and data infrastructure to support tenants focused on artificial intelligence and high intensity computing. What are the underlying business or industry changes driving this perspective?Revenue & Expenses Breakdown
How Fermi makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Jun 26 | 0 | -738 | 360 | 0 |
| 31 Mar 26 | 0 | -718 | 344 | 0 |
Quality Earnings: FRMI is currently unprofitable.
Growing Profit Margin: FRMI is currently unprofitable.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: Unable to establish if FRMI's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.
Accelerating Growth: Unable to compare FRMI's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: FRMI is unprofitable, making it difficult to compare its past year earnings growth to the Specialized REITs industry (13.8%).
Return on Equity
High ROE: FRMI has a negative Return on Equity (-67.32%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/12 15:53 |
| End of Day Share Price | 2026/09/11 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Fermi Inc. is covered by 10 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrew Fisher | Berenberg |
| Brett Knoblauch | Cantor Fitzgerald & Co. |
| Derek Soderberg | Cantor Fitzgerald & Co. |