Fermi Inc. (FRMI) intrinsic value & 10-year financials
Fermi Inc. (FRMI) has no Graham intrinsic value right now because the formula needs positive earnings.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $3.16
- Market cap
- $1.5B
- Revenue (FY2025)
- —
- ROIC (10-yr avg)
- -49.4%
- Free cash flow (FY2025)
- -$603.5M
FRMI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | — | -$486.4M | -$1.13 | -$603.5M | — | -49.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Fermi Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Fermi Inc. has historically struggled to out-earn its cost of capital, averaging just -49.4% ROIC.
Fermi Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Fermi Inc. is evaluated under Benjamin Graham's defensive framework using SEC EDGAR fundamentals using an 8.5 + 2g earnings multiple and a 5.1% AAA bond-yield baseline.