AleAnna Inc. Class A Common Stock (ANNA)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable businesses with clear competitive advantages and conservative finances. AleAnna is not that kind of wide-moat utility; it is a development-stage natural gas producer in Italy and Europe with only nine employees, commodity exposure, and regulatory dependence. Still, the turnaround is real in the filed figures. In fiscal 2024, the year ended 2024-12-31, revenue was $1.4M and net income was a loss of $12.4M. In fiscal 2025, the year ended 2025-12-31, revenue was $25.0M and net income was $2.9M. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $10.2M and net income was $2.4M, versus fiscal Q2 2025, the quarter ended 2025-06-30, when revenue was $4.0M and net income was $348,943. Fiscal Q1 2026, the quarter ended 2026-03-31, had revenue of $9.3M and net income of $2.1M. The balance sheet shows no debt by D/E 0.00, and trailing free cash flow was $10.3M, a 9.4% FCF yield on the $2.66 close of 2026-10-13. At that close, the FairStock P/E is 14.00 and P/B is 2.69. The Piotroski F-Score is 8/9. But Graham would balk: the Graham Number is $2.06, giving a negative margin of safety of -29.13%, and the Altman Z-Score is -0.46. FairStock EV/EBITDA is 4.70, and ROE is 21.62% while ROCE is only 7.33%. This is a speculative turnaround, not a margin-of-safety bargain.

In plain English: AleAnna is a small energy company that focuses on natural gas in Italy and Europe, plus renewable natural gas. The business has swung from losses to profits, with recent sales and earnings much higher than a year earlier, and it carries no debt. But the shares trade above a conservative estimate of value, and the company is tiny and volatile, so the price looks fair to expensive rather than clearly cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer