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Other financials

Income statement

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Operating income-$166.2M-213,033%
Net income-$188.7M-241,814%
EPS (diluted)-$0.30

Balance sheet

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Cash & equivalents$243.3M
Total debt$886.3M
Total equity$1.1B
Total assets$1.8B

Cash flow

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Operating cash flow-$7.3M-15,867%
Free cash flow-$448.5M-574,942%

Valuation

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Market cap$3.95B-76.8%
Enterprise value$4.59B

Returns & leverage

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Return on equity-125.9%
Debt / equity0.8×

Where this comes from

Reported directly by Fermi Inc. in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The source filing: Fermi Inc.’s 10-Q, filed May 15, 2026.

Filed
May 14, 2026, 8:00 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0002071778-26-000032
Line itemThree Months Ended March 31, 2026For the period from January 10, 2025 (Inception) through March 31, 2025
Prepaid expenses and other assets(6,899)
Net cash used in operating activities$(7,345)$(46)
Cash flows used in investing activities:
Investments in property, plant, and equipment(441,188)(32)
Other investing activities
Net cash used in investing activities$(441,188)$(32)
Cash flows from financing activities:
Proceeds from issuance of debt, net of debt discount430,827

Item 1. Financial Statements (Unaudited)

FAQ

What is Fermi Inc.'s capex?
Fermi Inc. (FRMI) reported capex of $441.19M in Q1 2026.
How has Fermi Inc.'s capex changed year-over-year?
Fermi Inc.'s capex increased by 1378612.5% year-over-year, from $32K to $441.19M.
What does capex mean?
Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

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