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FRMIReal Estate · REIT - Specialty

FRMI Stock Forecast: Fermi, Inc. Price Predictions for 2026-2027

Last close, 24 Aug 2026
$5.62
−5.07% on the day

The 8 Wall Street analysts covering Fermi, Inc. hold a median 12-month price target of $14 — +140.2% from the last close. Ticker Nerd's systematic factor model, run across ~4,600 US stocks, ranks it 1 of 100 as at 22 Aug 2026 — in the weakest quartile. The Street sees upside; the factor read is a caution. That gap is the story on this page.

Market cap
$3.8B
Ticker Nerd rank
1 / 100
Median analyst target
$14
Analysts covering
8
Revenue$0.0
Operating income−$166.2M
Net income−$188.7M
Free cash flow−$448.5M
Quarterly, 5 quarters to 31 Mar 2026 · latest quarter's figure shown
Total return, dividends reinvested
1W
−8.5%
1M
−24.1%
YTD
−29.8%
From high
−82.7%
From low
+17.1%
$5
$33
Range since 29 Sept 2025, adjusted closes · the dot is the last close
Ticker Nerd rank

FRMI stock analysis: one number for the whole business

Consensus tells you what everyone already believes. The model scores Fermi, Inc. on its factor families — the same systematic rank behind the Ticker Nerd portfolio.

Where the model ranks itAs at 22 Aug 2026
1 / 100

Percentile across ~4,600 US stocks on Ticker Nerd’s systematic factor model. Higher is better. How the model is built and tested

Revisions
42
Size
28
Growth
16
Value
16
Accruals
8
Quality
3
Issuance
2
Momentum
1
Volatility
1

Revisions (42): Analysts have, on balance, been raising their forecasts.

Volatility (1): The share price moves around a lot.

Built and run by Aslam Ghouse, an ex-Goldman Sachs quant trader with fourteen years in markets.

Wall Street

FRMI stock forecast 2026-2027: analyst price targets & predictions

The bullish and bearish analyst opinions on FRMI, reported as data — targets and ratings, the market's view beside the model's.

Share price and the analyst range, since 29 Sept 2025Adjusted close, US dollars
$0$10$20$30$40Oct 25Jan 26Apr 26Jul 26FRMIHigh $35Median $14Low $6

Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.

Data provided by Twelve Data

What Wall Street says8 analysts
6 Buy2 Hold0 Sell
Low $6Median $14High $35

The green dot is the last close — the median target sits +140.2% from it.

Recent analyst actionsNewest first

Of the 20 most recent actions, 0 moved their price target up and 3 moved it down.

DateFirmActionRatingTarget
14 Aug 2026MacquarieMaintainsOutperform$18 → $15
13 Aug 2026MacquarieMaintainsOutperform$18
28 July 2026MizuhoMaintainsOutperform$27 → $11
28 July 2026MizuhoMaintainsOutperform—
23 June 2026StifelMaintainsBuy—
23 June 2026StifelMaintainsBuy$29 → $17
15 May 2026Evercore ISI GroupDowngradeIn-Line—
20 Apr 2026MacquarieMaintainsOutperform—
1 Apr 2026MacquarieMaintainsOutperform—
1 Apr 2026UBSMaintainsBuy—
9 Feb 2026CitizensInitiatesMarket Outperform—
9 Feb 2026MacquarieMaintainsOutperform—
12 Nov 2025MacquarieMaintainsOutperform—
27 Oct 2025BerenbergInitiatesBuy—
27 Oct 2025Cantor FitzgeraldInitiatesOverweight—
27 Oct 2025MacquarieInitiatesOutperform—
27 Oct 2025MizuhoInitiatesOutperform—
27 Oct 2025Rothschild & CoInitiatesBuy—
27 Oct 2025StifelInitiatesBuy—
27 Oct 2025UBSInitiatesBuy—

Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.

Market Radar

This page is one stock. Monday covers all of them.

Computed off the Friday close and sent before the US open.

Market Radar reports the week’s largest rank changes across roughly 4,600 US stocks, the factor behind each one, and where the market went. FRMI appears on the weeks it earns a place.

Free, every Monday. Unsubscribe any time.

Performance

FRMI vs the S&P 500

Both lines are total return — dividends reinvested — so the comparison is honest on both sides.

FRMI vs S&P 500, last 12 monthsTotal return, rebased to 100
050100150Oct 25Jan 26Apr 26Jul 26FRMIS&P 500

Download this chart as an image — free to reuse; link this page as the source.

Data provided by Twelve Data

Estimates

FRMI analyst estimate revisions

Not the forecast itself — the direction analysts are revising it. Revision direction is one of the model's factor families.

Which way the estimates are movingNext fiscal year
Analysts raising
1
Analysts cutting
2
Fundamentals

Fermi, Inc. (FRMI) financial data

A margin means little on its own. Each bar marks where the figure sits across the whole US universe we score.

Valuation
Trailing P/E
−5.2×

Cheaper than 90% of US stocks

Price / sales
—
Price / book
3.7×

Cheaper than 29% of US stocks

EV / EBITDA
−24.2×

Cheaper than 90% of US stocks

Growth & margins
Revenue growth (YoY)
—
Earnings growth (YoY)
—
Gross margin
—
Operating margin
0.0%

Higher than 32% of US stocks

Net margin
0.0%

Higher than 30% of US stocks

Returns & dividend
Return on equity
−48.3%

Higher than 22% of US stocks

Return on assets
−37.5%

Higher than 11% of US stocks

Dividend yield
—

Bars mark the percentile across the ~4,600 US stocks Ticker Nerd covers, among those reporting the figure.

Key statistics

Fermi, Inc. (FRMI) statistics: revenue, profit & scale

The headline figures, each with its date. Every row carries its own link — cite it straight from here.

  • Fermi, Inc. has a market value of $3.8B and an enterprise value of $4.3B.

  • Revenue in the twelve months to 31 Mar 2026: $0.0.

  • Net income over the same four quarters: −$675.0M.

  • Free cash flow in the twelve months to 31 Mar 2026: −$1.1B, after $928.7M of capital spending.

  • Shares outstanding: 629.8M.

  • Trailing P/E: −5.2×; forward P/E: 51.1× — the forward figure prices analyst consensus estimates, not reported earnings.

  • Fermi, Inc. employs 35 people.

Statement figures: company filings via Twelve Data, four quarters to 31 Mar 2026 · market figures as at 25 Aug 2026

Data provided by Twelve Data

Peers

FRMI vs competitors

The nearest names by industry and size, scored by the same model — like for like.

Its peer group, ranked by the same modelREIT - Specialty
CompanyMarket capTKN rank
FRMIFermi, Inc.$3.8B
1
UNITUniti Group, Inc.$2.4B
22
JOEThe St. Joe Co.*$3.9B
82
HHHHoward Hughes Holdings, Inc.*$4.0B
35
CWKCushman & Wakefield Ltd.*$3.5B
62
OPENOpendoor Technologies, Inc.*$3.4B
16
NMRKNewmark Group, Inc.*$3.0B
94

* Nearest Real Estate names by size — few reit - specialty companies of this scale trade in the US universe.

Look up any of the roughly 4,600 stocks we score.

The rank is the raw material. Whether the rules would actually own Fermi, Inc. — and when they’d sell — is the membership. See the Ticker Nerd 20 →

News

Latest FRMI news & analysis

I Don't Need A Data Center In My Backyard; I Already Own Hundreds Of Them

Seeking Alpha · 23 Aug 2026negative

An analysis notes that data centers face rising AI-driven demand alongside supply constraints that widen moats for established operators like Digital Realty, Equinix, and Iron Mountain, though their valuations are considered rich. New entrants Blackstone Digital Infrastructure Trust and Fermi America offer differentiated strategies, but Fermi America is described as high-risk and pre-revenue.

Why it matters — A FRMI watcher would care because the piece characterises Fermi America as a high-risk, pre-revenue new entrant competing in a data-center market with scarce supply and entrenched incumbents.

Fermi: Hyper Moore's Law For Power May Dwarf The Governance Issues

Seeking Alpha · 17 Aug 2026positive

The article discusses Fermi, Inc., highlighting a transformative tenant deal, major project catalysts, and turbine and permit capacity that position it to meet surging AI compute demand. It notes that governance drama has eased and that Fermi 2.0 delivered, opening a path for further tenant signings.

Why it matters — A FRMI watcher would care because the reported easing of governance issues, a completed Fermi 2.0 milestone, and the company's turbine and permit capacity signal continued progress toward further tenant signings and broader demand capture.

Rick Perry's Fermi Finally Finds a Customer for Its Giant Texas AI Power Bet

WSJ · 13 Aug 2026neutral

Fermi has finally found a customer for its large Texas artificial-intelligence power project, according to the article. The company, which went public in a well-known IPO last year, also named a new CEO after months of legal and executive turnover.

Why it matters — A Fermi watcher would care because securing a first customer advances the firm's core Texas AI power venture even as a recent CEO change signals lingering leadership instability.

Why Fermi Stock Is Down 10% Today

The Motley Fool · 13 Aug 2026negative

Fermi reported zero revenue for the fourth straight quarter, falling short of analyst estimates that ranged from $72 million to $148 million. The company remains in pre-revenue mode while spending borrowed cash on large construction projects.

Why it matters — For FRMI watchers, the continued absence of revenue alongside heavy cash burn on construction raises concerns about the company's path to profitability and reliance on borrowed funds.

Fermi Inc. (FRMI) Q2 2026 Earnings Call Transcript

Seeking Alpha · 13 Aug 2026neutral

Seeking Alpha published a transcript of Fermi Inc.'s (FRMI) Q2 2026 earnings call, covering the company's second-quarter results and management commentary for that period.

Why it matters — A transcript of the Q2 2026 earnings call gives FRMI watchers direct access to management's statements and performance details from the company's most recent reporting period.

FAQ

Frequently asked questions about FRMI stock

What is the FRMI stock price forecast for 2026-2027?

The 8 Wall Street analysts covering Fermi, Inc. have a median 12-month price target of $14, with estimates ranging from $6 to $35. These are third-party analyst estimates, not Ticker Nerd forecasts, and they are frequently wrong.

Is FRMI stock a buy right now?

Of the 8 analysts covering Fermi, Inc., 6 rate it a Buy, 2 a Hold and 0 a Sell. Ticker Nerd's systematic factor model ranks Fermi, Inc. 1 out of 100 across roughly 4,600 US stocks as at 22 Aug 2026. None of this is personal advice — it does not consider your circumstances.

How does Ticker Nerd's model rank FRMI?

As at 22 Aug 2026, Fermi, Inc. ranks 1 out of 100 on Ticker Nerd's systematic factor model — a percentile across roughly 4,600 US stocks, built from its factor families. Its strongest factor family is Revisions (42 of 100).

Will FRMI stock go up?

No one can know that. What the data says: the median 12-month target from 8 analysts implies +140.2% from the last close, and Ticker Nerd's factor model ranks Fermi, Inc. 1 out of 100 as at 22 Aug 2026. Analyst targets are third-party estimates and frequently wrong; none of this is personal advice.

What is the FRMI stock forecast for 2030?

No analyst covering Fermi, Inc. publishes a 2030 price target — Wall Street targets run 12 to 18 months out. Sites quoting a 2030 price for FRMI are extrapolating price history, which says nothing about the business. The furthest attributed numbers are the current analyst targets: $6 to $35 over the next 12 months.

What does Fermi, Inc. do?

Fermi Inc. is an advanced energy and hyperscale infrastructure real estate investment trust focused on serving artificial intelligence and high-performance computing customers in the United States.

What is the latest news on FRMI?

The most recent item we track (Seeking Alpha, 23 Aug 2026): "I Don't Need A Data Center In My Backyard; I Already Own Hundreds Of Them". An analysis notes that data centers face rising AI-driven demand alongside supply constraints that widen moats for established operators like Digital Realty, Equinix, and Iron Mountain, though their valuations are considered rich. New entrants Blackstone Digital Infrastructure Trust and Fermi America offer differentiated strategies, but Fermi America is described as high-risk and pre-revenue.

Company

About Fermi, Inc.

Fermi Inc. is an advanced energy and hyperscale infrastructure real estate investment trust focused on serving artificial intelligence and high-performance computing customers in the United States. The company develops, owns, and leases large, grid-independent private power campuses that combine energy generation with AI-ready data center facilities. Its flagship Project Matador in the Texas Panhandle is designed as a multi-gigawatt HyperGrid™ campus, integrating diverse low-carbon power sources such as nuclear, natural gas, solar, battery storage, and utility grid power to deliver highly redundant, on-demand electricity at gigawatt scale. Fermi Inc. targets compute-intensive enterprises that require reliable, large-scale power and specialized infrastructure, offering long-term ground leases, powered shell buildings, and integrated site infrastructure including substations, internal distribution networks, water and cooling systems. Founded in 2025 and headquartered in Amarillo, Texas, Fermi Inc. occupies a niche at the intersection of energy infrastructure, data center development, and AI-focused real estate, providing a platform for institutions and hyperscalers to deploy next-generation AI workloads on dedicated, privately supplied power.

CEO Mr. Toby R. Neugebauer · 35 employees · United States · https://www.fermiamerica.com