Income statement, balance sheet and cash flow statement for the last 1 fiscal years, taken from the XBRL data Fermi Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2025
General and administrative
178
Operating expenses
178
Operating income
-178
Interest expense
-3.73
Other non-operating income
-309
Net income
-486
EPS, basic
-1.13
EPS, diluted
-1.13
Shares, basic (weighted)
468
Shares, diluted (weighted)
468
Balance sheet
FY2025
Cash and equivalents
409
Property, plant and equipment
935
Lease right-of-use assets
21.7
Total assets
1,413
Short-term debt
110
Total liabilities
317
Total debt
110
Paid-in capital
1,228
Retained earnings
-133
Shareholders' equity
1,096
Total equity
1,096
Total liabilities and equity
1,413
Shares outstanding
630
Cash flow statement
FY2025
Net income
-486
Change in payables
15
Cash from operations
-34.2
Capital expenditures
-569
Cash from investing
-570
Debt issued
100
Cash from financing
1,013
Net change in cash
409
Free cash flow
-603
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $4.52 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-67.3%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-39.4%
Net income / average total assets.
Return on invested capital (ROIC)
-19.4%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Balance sheet health
Metric
Value
How it is calculated
Debt / equity
0.50x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
29.5%
Total debt / total assets.
Liabilities / assets
41.5%
Total liabilities / total assets.
Net debt
$457.6M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$1.87
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.14
Cash from operations / diluted weighted shares.
Book value per share
$1.62
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
2.81x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.81x
Market cap / tangible book value, when positive.
FCF yield
-41.2%
Free cash flow / market cap.
Earnings yield
-24.0%
Net income / market cap (the inverse of P/E).
Was Fermi Inc. profitable in fiscal 2025?
No. It reported a net loss of $486.4M.
How much free cash flow did Fermi Inc. generate in fiscal 2025?
Cash from operations of $34.2M minus capital expenditures of $569.3M left free cash flow of -$603.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.