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FRMI

Fermi Inc. Common Stock

FRMI

NASDAQ·Utilities·Regulated Electric·Mkt cap $5.4B

$8.06

-5.40%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$4.47 - $36.99

P/E

-6.21

Fwd P/E

10.55

Beta

2.72

Div Yield

0.00%

Avg Vol

19.0M

Shares Out

629.8M

Mkt Cap

$5.4B

Price action

Price chart

Down 73.8% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

Bull Case

4 reasons

  • Leadership team with deep government and energy sector expertise
  • First-mover advantage in AI-focused energy infrastructure
  • Integrated energy and data center campus model
  • Regulatory framework advantages as a regulated utility

Bear Case

1 risk

  • High volatility (beta 2.7). Larger-than-normal price swings expected.

Growth

Turning profitable

Explosive growth in AI data center power demand

Value

Undervalued - trading well below Electric Utilities peers

Momentum

Hot

+59.0% over 3m

Quality

Loss-making

Below average quality

Dividend

None

No dividend

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Aug 13, 2026

Q2 26 RECAP

MAY 14, 2026

Reported EPS of -$0.30 vs -$0.03 consensus (-784.2% surprise).

EPS miss

EPS surprise · last 4Q

0 of 1 beats

Q2 26

-784.2%

Next: Aug 13, 2026

Revenue trend · last 5Q

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$0

$0

$0

$0

$0

Margins · last 5Q

No margin history available.

Wall Street consensus

3 analysts · 67% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

2

67%

Hold

1

33%

Sell

0%

Median Price Target

$8.00

-0.7% vs $8.06

Low $6.00
Median $8.00
High $11.00

Latest: Evercore · $11.00 · May 15, 2026

3 analysts covering

vs Industry

How FRMI stacks vs Regulated Electric

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.