Fermi Inc. Common Stock (FRMI)

Fermi Inc. Common Stock (FRMI) — VMCI valuation read

Fermi Inc. Common Stock (FRMI) carries a VMCI composite of 33/100, 17 points below the Utilities sector median of 50. Among mid-cap names, that gap places FRMI in the bottom third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).

The FRMI insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.

**Investor frame.** Value reads FRMI trades at 18.0x earnings, 0% above the Utilities median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Utilities 12.0x. Quality: ROIC of 10.0% sits 0.0pp above the Utilities median (10.0%). Risk: net debt to EBITDA of 2.7x is the rate-sensitivity line to watch, the line to track on Fermi Inc. Common Stock's next 10-Q.

FRMI fell 1.6% over the trailing 7 days, with a -22.7% read on a 30-day basis.