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Friday 6 November 2026
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Fermi Inc.
FRMI Real Estate Reit Specialty
- EPS
- −159.7%
- Free cash flow
- −414.5%
Quarter to June 2026, against a year earlier
1.50
0.03
−1.96%
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Target Price Range
Analyst price targets
Free accountTen years at a glance
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | — | — | — | — | 77 | 718 | 2,370 | +456.3% | |
| Gross margin, % | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| EBT | — | — | — | — | — | — | — | — | — | (486) | (695) | — | ||||||
| EBT margin, % | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | — | ||||||
| Net income | — | — | — | — | — | — | — | — | — | (486) | (695) | — | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | — | |||||
| Earnings | — | — | — | — | — | — | — | — | — | (1.13) | (1.46) | — | ||||||
| Cash flow | — | — | — | — | — | — | — | — | — | (0.07) | (0.14) | — | ||||||
| Capex | — | — | — | — | — | — | — | — | — | (1.22) | (1.81) | — | ||||||
| Free cash flow | — | — | — | — | — | — | — | — | — | (1.29) | (1.95) | — | ||||||
| Book value | — | — | — | — | — | — | — | — | — | 2.34 | 1.62 | — | ||||||
| Shares, m | — | — | — | — | — | — | — | — | — | 468 | 550 | — | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | 0 | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| P/B | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | — | — | (34) | (88) | — | |||||
| Capex | — | — | — | — | — | — | — | — | — | (569) | (1,153) | — | ||||||
| Free cash flow | — | — | — | — | — | — | — | — | — | (603) | (1,240) | — | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | — | — | 232 | (58) | — | |||||
| Net debt | — | — | — | — | — | — | — | — | — | (409) | (92) | — | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | — | — | 1,096 | 1,032 | — | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | — | — | 0.00 | (74.99) | — | |||||
| ROIC | — | — | — | — | — | — | — | — | — | (16.17) | (24.28) | — | ||||||
| ROE | — | — | — | — | — | — | — | — | — | 0.00 | (134.87) | — | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | — | 35 | — | — | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | — | — | 0.00 | — | — | ||||||
Negative figures in brackets.
estimates
Fundamentals updated 25 Oct 2026
Fermi Inc. vs peers in Reit Specialty (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| GLPI Gaming and Leisure Properties, Inc. | $11.5B | 12.1× | 12.0× | +9.52% (above 0%: growing) | −16.47% (below 0%: shrinking) | −47.02% (below 0%: shrinking) | 100.00% | 71.18% | Compare |
| RYN Rayonier Inc. | $6.6B | 47.5× | 72.7× | +272.15% (above 0%: growing) | −97.72% (below 0%: shrinking) | −88.66% (below 0%: shrinking) | 19.08% | 8.73% | Compare |
| OUT OUTFRONT Media Inc. | $5.6B | 23.0× | 22.4× | +13.54% (above 0%: growing) | +340.00% (above 0%: growing) | +167.78% (above 0%: growing) | 52.90% | 22.22% | Compare |
| EPR EPR Properties | $4.6B | 16.7× | 18.8× | +11.96% (above 0%: growing) | +53.75% (above 0%: growing) | −34.67% (below 0%: shrinking) | 92.31% | 68.23% | Compare |
| BXDC Blackstone Digital Infrastructure Trust Inc. | $1.6B | — | — | — | — | — | — | 0.00% | Compare |
| UNIT Uniti Group Inc. | $1.3B | 1.1× | — (loss-making) | +202.53% (above 0%: growing) | n/m | −379.58% (below 0%: shrinking) | 57.83% | 3.54% | Compare |
| FRMI Fermi Inc. | $981.1M | — (loss-making) | — | — | n/m | −414.49% (below 0%: shrinking) | — | 0.00% | |
| FPI Farmland Partners Inc. | $368.1M | 46.6× | 35.9× | −13.10% (below 0%: shrinking) | n/m | −211.64% (below 0%: shrinking) | 67.10% | (128.02%) | Compare |
| LAND Gladstone Land Corporation | $303.3M | — (loss-making) | — (loss-making) | +3.22% (above 0%: growing) | n/m | +1,646.28% (above 0%: growing) | 74.05% | (33.96%) | Compare |
| Median of peers | $3.1B | 19.9× | 22.4× | +11.96% | +18.64% | −47.02% | 67.10% | 6.14% |
Pay and ownership Proxy statement filed 2 October 2026
Ownership
Directors and executive officers, together
2.83%
Toby Neugebauer
22.47%
Melissa A. Neugebauer
14.71%
Caddis Holdings, LP
8.15%
Vicksburg Investments Management LLC
6.26%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement