FRMI
Fermi Inc.Figures below are compared against other companies classified under Real Estate Investment Trusts.
Grades vs. industry
Profitability
| Metric | Company | Industry median | Rank |
|---|---|---|---|
Gross margin Gross profit as a share of revenue. Often unreported. | Not reported | 63.3% | — |
Operating margin Operating income as a share of revenue. | Not reported | 22.1% | — |
Net margin Net income as a share of revenue. | Not reported | 11.4% | — |
Free cash flow margin Free cash flow as a share of revenue. | Not reported | 18.5% | — |
Return on equity Net income divided by shareholder equity. | -44.4% | 5.4% | — |
Return on assets Net income divided by total assets. | -34.4% | 1.4% | — |
Return on invested capital After-tax operating profit over debt plus equity less cash. | -15.5% | 5.2% | — |
“Not reported” means the company did not tag this figure in its filing, not that the value is zero. Nothing here is ranked: this company reported an operating loss several times its revenue, so it is left out of its industry’s comparisons and does not count toward the medians shown. Its own figures are exactly as filed.
Financial health
| Metric | Company | Industry median | Rank |
|---|---|---|---|
Debt to equity Total debt divided by shareholder equity. | 0.20x | 0.95x | — |
Current ratio Current assets over current liabilities. | Not reported | 0.86x | — |
Quick ratio Current assets excluding inventory, over current liabilities. | Not reported | 0.78x | — |
Interest coverage Operating income divided by interest expense. | Not reported | 1.84x | — |
Net debt to EBITDA Net debt over derived EBITDA. EBITDA is not a GAAP tag; it is computed. | Not reported | 4.71x | — |
“Not reported” means the company did not tag this figure in its filing, not that the value is zero. Nothing here is ranked: this company reported an operating loss several times its revenue, so it is left out of its industry’s comparisons and does not count toward the medians shown. Its own figures are exactly as filed.
Debt figures can be understated where a filer splits borrowings across XBRL tags this site does not match.
Insider activity
Trades reported by officers, directors and 10% shareholders on SEC Form 4. None of the last 5 reported transactions were open-market purchases — grants, option exercises and sales make up the majority of insider filings at most companies.
| Date | Insider | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| Oct 20, 2026 | NEUGEBAUER TOBY R, Melissa A. Neugebauer 2020 Trust 10% owner | Open-market sale | 420,749 | $3.04 | $1.28M |
| Oct 14, 2026 | NEUGEBAUER TOBY R, Melissa A. Neugebauer 2020 Trust 10% owner | Open-market sale | 1,297,200 | $3.15 | $4.09M |
| Oct 13, 2026 | NEUGEBAUER TOBY R, Melissa A. Neugebauer 2020 Trust 10% owner | Open-market sale | 2,750,000 | $3.73 | $10.27M |
| Aug 20, 2026 | Ortiz Blanes Jacobo Chief Operating Officer | Grant or award | 147,059 | $0.00 | $0.00 |
| Aug 14, 2026 | MCINTIRE LEE A Chief Executive Officer | Grant or award | 468,750 | $0.00 | $0.00 |
A dash under price or value means none was reported, which is normal for grants and gifts — it does not mean the shares were free. Option exercises and awards are compensation arriving on a schedule, not a judgement about the stock.
Annual financials
| Fiscal year | 2025 |
|---|---|
| Operating income | -$177.78M |
| Net income | -$486.38M |
| EPS (diluted) | -$1.13 |
| Operating cash flow | -$34.15M |
| Capital expenditure | $569.30M |
| Free cash flow | -$603.46M |
| Total assets | $1.41B |
| Shareholder equity | $1.10B |
| Total debt | $219.60M |
| Cash | $408.53M |
A dash means the figure was not tagged in that year’s filing. It does not mean zero. Figures reflect the most recent filing covering each period, so restated years show their restated values.
Source
Figures come from Fermi Inc.’s filings with the SEC, as submitted in XBRL. The most recent annual figures are from a 10-K filed Mar 30, 2026. View filings on EDGAR.