Fermi Inc. (FRMI) Financial Statements
Industry: Real Estate Investment Trusts
In fiscal 2025, Fermi reported revenue of $0. Net income was -$486.4M, or -$1.13 per diluted share. Operating activities generated -$34.2M of cash, leaving -$603.5M of free cash flow. At fiscal year end, Fermi held $1.41B in total assets against $317.4M in total liabilities, including $408.5M of cash and equivalents.
Open the full interactive Fermi financials → Quarterly statements, key ratios, valuation history and price charts.
Fermi Key Stats
| Share Price | $3.72 |
|---|---|
| Market Cap | $2.37B |
| 52-Week Range | $3.25 – $30.01 |
| Shares Outstanding | 637.3 million (basic, 2026 Q2) |
Fermi Income Statement
| FY 2025 | |
|---|---|
| Revenue | $0 |
| Operating Income | -$177.8M |
| Pre-Tax Income | -$486.4M |
| Net Income | -$486.4M |
| Diluted EPS | -$1.13 |
Fermi Quarterly Results
| 2025 Q3 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|
| Revenue | $0 | $0 | $0 |
| Net Income | -$346.8M | -$188.7M | -$25.8M |
| Diluted EPS | -$0.84 | -$0.30 | -$0.04 |
Fermi Balance Sheet
| FY 2025 | |
|---|---|
| Cash & Equivalents | $408.5M |
| Total Assets | $1.41B |
| Total Long-Term Debt | $149.0M |
| Total Liabilities | $317.4M |
| Shareholders' Equity | $1.10B |
Fermi Cash Flow Statement
| FY 2025 | |
|---|---|
| Cash From Operations | -$34.2M |
| Cash From Investing | -$570.3M |
| Cash From Financing | $1.01B |
| Free Cash Flow | -$603.5M |
Figures from Fermi's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Fermi financials page for every line item.
Fermi Company Profile
| Ticker | FRMI |
|---|---|
| Exchange | Nasdaq |
| Industry | Real Estate Investment Trusts |
| Headquarters | Dallas, Texas |
| Incorporated in | Texas |
| Fiscal Year End | December 31 |
| SEC Filer Category | Emerging growth company |
| SEC CIK | 0002071778 |
Frequently Asked Questions
What was Fermi's revenue in fiscal 2025?
Fermi (FRMI) reported revenue of $0 for fiscal 2025.
What was Fermi's net income in fiscal 2025?
Fermi reported net income of -$486.4M for fiscal 2025.
What was Fermi's earnings per share (EPS) in fiscal 2025?
Fermi's diluted EPS was -$1.13 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Fermi generate in fiscal 2025?
Fermi generated -$603.5M of free cash flow in fiscal 2025.
What was Fermi's revenue last quarter?
In its most recent reported quarter (2026 Q2), Fermi reported revenue of $0.
How much debt does Fermi have?
Fermi reported $149.0M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Fermi are outstanding?
Fermi reported a weighted average of 637.3 million basic shares outstanding in 2026 Q2.
What is Fermi's market cap?
Based on its latest closing price, Fermi (FRMI) has a market capitalization of about $2.37B.
When does Fermi's fiscal year end?
Fermi's fiscal year end, as registered with the SEC, is December 31.
Where is Fermi headquartered?
Fermi lists its business address in Dallas, Texas in its SEC filings.