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NASDAQ NMS - GLOBAL MARKET · Real Estate · CIK 0002071778
$2.65
-7.34% · delayed ~15 min
Last price from Oct 22, 2026
$1.67B market value
From Fermi Inc.'s FY2025 10-K, filed Mar 30, 2026 · read the filing
Fermi owns income-producing property as a REIT.
The filing does not provide enough evidence for a clear financial conclusion.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Recent open-market selling by 3 insiders, not under a pre-arranged plan.
$21.9M sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Significant financial weakness across most measures.
From Fermi Inc.'s FY2025 annual filing · share price scored separately
2 of 4 scored areas had enough reported figures to judge
How the latest move compares (quote delayed ~15 min), and what was published around it
FRMI fell 7.34% on the latest quote. The average Real Estate company tracked here moved +1.90%, and the S&P 500 −1.04%. That is 9.2 points below its sector and 6.3 points below the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 16 analysts covering this company, as of . Their views, not this site's.
Of 16 analysts publishing on this company, 4 say strong buy, 9 say buy and 3 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $486.4M last year.
Not enough history has been reported to judge growth.
For every $1 it owes, it owns $4.45 in assets. Banks and insurers always carry high debt — that is how lending works — so this is normal for the industry and not comparable with other sectors. Its operating profit does not cover its interest bill — -272.67x against the interest it owes.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it lost $486.4M and generated -$34.2M of cash from operations.
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Mar 30, 2026Filing for FY2025 |
|---|---|
| Selling, general and administrative | $177.8M |
| Operating income | -$177.8M |
| Interest expense | $652.0K |
| Net income | -$486.4M |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-0.7722 |
† calculated from other reported figures, such as total liabilities as assets minus equity. There is no consecutive earlier year to compare with.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| FRMIFermi Inc. · this page | 2.0/10 | 1/3 | — | — | — | 0.29x |
| EQIXEQUINIX INC | 6.0/10 | 6/8 |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Sold on the open market — 420,749 shares at $3.04 ($1.3M)
Holds 91,188,910 shares after this filing.
Sold on the open market — 2,750,000 shares at $3.73 ($10.3M)
Holds 91,609,659 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Reported another event
Read the filingMade a Regulation FD disclosure
Read the filingWrite down why you are following Fermi Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from FRMI's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Mar 30, 2026), reported under the US GAAP taxonomy. View the source filing.
The score averages profitability, growth, debt and accounting. Growth and Accounting had too few reported figures and are left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 3 of the 9 Piotroski checks could be evaluated. How the score works
Every check behind the three models, and what each one tests
1 of 3 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. 6 could not be evaluated and are excluded from the total rather than counted as failures.
not reported — Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 10.6% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Reported annual figures
Not enough reported history to chart trends for this company.
| 5.4% |
| 14.6% |
| 69.31x |
| 1.83x |
| DLRDIGITAL REALTY TRUST, INC. | 6.0/10 | 5/6 | 10.0% | 21.4% | 44.88x | 1.07x |
|---|
| Median of peers | 6.0/10 | — | 7.7% | 18.0% | 57.10x | 1.45x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Sold on the open market — 1,297,200 shares at $3.15 ($4.1M)
Holds 43,359,176 shares after this filing.
Was granted or awarded shares — 147,059 shares
Holds 5,616,151 shares after this filing.
Was granted or awarded shares — 468,750 shares
Holds 784,913 shares after this filing.
Sold on the open market — 863,637 shares at $7.31 ($6.3M)
Holds 15,827,807 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 420,749 shares ($1.2M) on or after .
Shares originally obtained via Acquired from issuer in private transaction.
Filed notice to sell 1,297,200 shares ($4.1M) on or after .
Shares originally obtained via Acquired from issuer in private transaction.
Filed notice to sell 2,750,000 shares ($10.2M) on or after .
Shares originally obtained via Acquired from issuer in private transaction.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Proxy statement for a shareholder meeting
Received shareholder director nominations · Reported another event
Read the filingQuarterly report for Q2 FY2026
Operating income $21.1M wider · Profit $19.5M wider · Earnings per share $0.03 wider — against Q2 FY2026
Read the filingHad a director or senior officer leave or join
Read the filingPublished results
Read the filingHad a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join
Read the filingSigned a material agreement · Took on a direct financial obligation · Sold shares outside a public offering · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join
Read the filingMade a Regulation FD disclosure · Reported another event
Read the filingQuarterly report for Q1 FY2026
Operating income $166.2M wider · Profit $188.6M wider · Free cash flow $448.5M wider — against Q1 FY2026
Read the filingPublished results
Read the filingAmended its charter or changed its financial year
Read the filingMade a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join
Read the filingAnnual report for FY2025
Read the filingHad a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join
Read the filingPrimary sources and further research