What is SES AI's free cash flow margin?

SES AI (SES) reported free cash flow margin of -262.8% in Q1 2026.

How has SES AI's free cash flow margin changed year-over-year?

SES AI's free cash flow margin increased by 77.7% year-over-year, from -1,178.5% to -262.8%.

What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

SES AI SES Free cash flow margin

Free cash flow margin at other companies

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-400.9%+32.3pp

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-368.9%-117pp

Amprius TechnologiesAMPX

-65.1%-19.6pp

Microvast Holdings, Inc.MVST

6.9%—

American Battery Technology CompanyABAT

-211.1%-99.1pp

AlbemarleALB

-2.8%-1.3pp

Other financials

Income statement

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Revenue$6.7M+15.8%

Gross profit$1.2M-73.3%

Operating income-$17.9M+23.2%

Net income-$12.1M+2.7%

EPS (diluted)-$0.040.0%

Balance sheet

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Cash & equivalents$46.9M-16.3%

Total debt$7.7M-18.9%

Total equity$203.2M-24.7%

Total assets$253.5M-17.1%

Cash flow

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Operating cash flow-$19.8M+13.3%

CapEx$330.0K-64.0%

Free cash flow-$20.1M+15.2%

Valuation

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Market cap$325.08M+5.5%

Enterprise value$285.86M+9.3%

P/S14.8×-27.2×

Profitability

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Gross margin36.3%-39.1pp

Operating margin-352.3%-153pp

Net margin-331.7%-142pp

Returns & leverage

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Return on equity-30.7%-0.7pp

Debt / equity0×0.0×

Current ratio6.9×-8.8×

Where this comes from

Calculated from SES AI’s reported figures.

free cash flow/total revenue=-262.8%

Based on trailing twelve months.

The official record: SES AI’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SES AI's free cash flow margin?: SES AI (SES) reported free cash flow margin of -262.8% in Q1 2026.
How has SES AI's free cash flow margin changed year-over-year?: SES AI's free cash flow margin increased by 77.7% year-over-year, from -1,178.5% to -262.8%.
What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.