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Fermi Valuation Multiples
Discover revenue and EBITDA valuation multiples for Fermi and similar public comparables like XtalPi, Shenzhen Intellifusion, Presight AI, Intsig Information and more.
Fermi Overview
About Fermi
Fermi Inc is an energy and hyperscaler development company purpose-built for the AI era. Its Project Matador, a multi-gigawatt energy and data center development campus designed to support the accelerating needs of to-be-built AI infrastructure. Through its REIT structure, Fermi offers investors exposure to AI infrastructure growth and long-term, large-scale and reliable energy development in a tax-efficient public vehicle.
Founded
2025
HQ
Employees
1
Website
Financials (LTM)
EV
$5B
Fermi Financials
Fermi reported last 12-month revenue of $141M and EBITDA of $21M.
In the same LTM period, Fermi generated $21M in EBITDA and had net loss of ($260M).
Revenue (LTM)
Fermi P&L
In the most recent fiscal year, Fermi reported revenue of — and net income of —.
Fermi expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $141M | XXX | — | XXX | XXX | XXX |
| EBITDA | $21M | XXX | — | XXX | XXX | XXX |
| EBITDA Margin | 15% | XXX | — | XXX | XXX | XXX |
| EBIT Margin | (7%) | XXX | — | XXX | XXX | XXX |
| Net Profit | ($260M) | XXX | — | XXX | XXX | XXX |
| Net Margin | (184%) | XXX | — | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Fermi Stock Performance
Fermi has current market cap of $5B, and enterprise value of $5B.
Market Cap Evolution
Fermi's stock price is $8.58.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5B | $5B | 0.0% | XXX | XXX | XXX | — |
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Start Free TrialFermi Valuation Multiples
Fermi trades at 37.6x EV/Revenue multiple, and 253.8x EV/EBITDA.
EV / Revenue (LTM)
Fermi Financial Valuation Multiples
As of March 24, 2026, Fermi has market cap of $5B and EV of $5B.
Equity research analysts estimate Fermi's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Fermi has a P/E ratio of (20.2x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $5B | XXX | $5B | XXX | XXX | XXX |
| EV (current) | $5B | XXX | $5B | XXX | XXX | XXX |
| EV/Revenue | 37.6x | XXX | — | XXX | XXX | XXX |
| EV/EBITDA | 253.8x | XXX | — | XXX | XXX | XXX |
| EV/EBIT | (565.1x) | XXX | — | XXX | XXX | XXX |
| P/E | (20.2x) | XXX | — | XXX | XXX | XXX |
| EV/FCF | (12.6x) | XXX | — | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Fermi Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Fermi Margins & Growth Rates
Fermi's revenue in the last 12 month grew by 512%.
Fermi's revenue per employee in the last FY averaged $141.3M.
Fermi's rule of 40 is 526% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Fermi's rule of X is 1294% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Fermi Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 512% | XXX | — | XXX | XXX | XXX |
| EBITDA Margin | 15% | XXX | — | XXX | XXX | XXX |
| EBITDA Growth | 1845% | XXX | — | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 526% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 1294% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $141.3M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 29% | XXX | — | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Fermi Public Comps
See public comps and valuation multiples for other Artificial Intelligence comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| XtalPi | XXX | XXX | XXX | XXX | XXX | XXX |
| Shenzhen Intellifusion | XXX | XXX | XXX | XXX | XXX | XXX |
| Presight AI | XXX | XXX | XXX | XXX | XXX | XXX |
| Intsig Information | XXX | XXX | XXX | XXX | XXX | XXX |
| UiPath | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Fermi M&A Activity
Fermi acquired XXX companies to date.
Last acquisition by Fermi was on XXXXXXXX, XXXXX. Fermi acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Fermi
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialFermi Investment Activity
Fermi invested in XXX companies to date.
Fermi made its latest investment on XXXXXXXX, XXXXX. Fermi invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Fermi
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Fermi
| When was Fermi founded? | Fermi was founded in 2025. |
| Where is Fermi headquartered? | Fermi is headquartered in United States. |
| How many employees does Fermi have? | As of today, Fermi has over 1 employees. |
| Who is the CEO of Fermi? | Fermi's CEO is Toby R. Neugebauer. |
| Is Fermi publicly listed? | Yes, Fermi is a public company listed on Nasdaq. |
| What is the stock symbol of Fermi? | Fermi trades under FRMI ticker. |
| When did Fermi go public? | Fermi went public in 2025. |
| Who are competitors of Fermi? | Fermi main competitors are XtalPi, Shenzhen Intellifusion, Presight AI, Intsig Information. |
| What is the current market cap of Fermi? | Fermi's current market cap is $5B. |
| What is the current revenue of Fermi? | Fermi's last 12 months revenue is $141M. |
| What is the current revenue growth of Fermi? | Fermi revenue growth (NTM/LTM) is 512%. |
| What is the current EV/Revenue multiple of Fermi? | Current revenue multiple of Fermi is 37.6x. |
| Is Fermi profitable? | Yes, Fermi is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Fermi? | Fermi's last 12 months EBITDA is $21M. |
| What is Fermi's EBITDA margin? | Fermi's last 12 months EBITDA margin is 15%. |
| What is the current EV/EBITDA multiple of Fermi? | Current EBITDA multiple of Fermi is 253.8x. |
| What is the current FCF of Fermi? | Fermi's last 12 months FCF is ($421M). |
| What is Fermi's FCF margin? | Fermi's last 12 months FCF margin is (298%). |
| What is the current EV/FCF multiple of Fermi? | Current FCF multiple of Fermi is (12.6x). |
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