Screened 2026-09-10 · the tape above runs as of 17:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Fermi Inc. holds its Markdown at $5.16. Consolidating, no directional conviction, held for 7 days.
As held on the ledger · 2026-09-10
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 7 days
Price at the screen
$5.16
Valuation
N/A trailing · 46.51 forward price to earnings
Values screen
PASS· score 95.6
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
2.79%
Below 33%
Interest-bearing debt is just 2.8% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
8.69%
Below 33%
Cash held in interest-bearing accounts and securities is 8.7% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads OPPORTUNITY: it trades at roughly a 41% discount to our $7.27 fair value, weak competitive moat.
Fair value range in USD, drawn from the 2026-09-10 screen. The gold marker is the market price at the same screen. A 41.1% margin of safety to the base estimate.
Third-party analyst targets: 8 covering, consensus None. The average target sits +162% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-10 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Powering AI Needs at a Bargain Price
Picture an AI boom that demands entire power plants built from scratch, not just another data centre lease. Fermi is trying to own those private campuses outright, generating and delivering grid-independent electricity straight to the highest bidders in high-performance computing.
At $6.05 against a $10.39 fair value the shares sit with a 72 percent margin of safety. Forward earnings sit at 16.6 times, eight analysts carry a buy rating with an $18 median target, profit margins are still zero and the moat is weak, yet the ethical screen clears without issue.
The catch is obvious: no current profits and thin competitive defences leave the business exposed if AI spending slows or larger utilities muscle in. Execution risk remains high until cash flow appears. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FRMI trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-29Markdown · changed$5.62-7.1%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.1% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-07-30Markup$6.05+4.7%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 4.7% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-07-18Markup$5.78+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-07-03Markup$5.78+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score (96). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markup$5.78Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with near-perfect ethical score (96). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
