New Fortress Energy Inc. Class A Common Stock (NFE)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

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

I look at New Fortress Energy through Graham's lens: what is the business worth, and what could impair it? The company owns natural gas terminals, ships, and gas-to-power infrastructure. Such assets can be valuable if contracted and utilized, but the filed numbers show little evidence of a durable moat right now. In fiscal 2023, revenue was $2.1B and net income was $547.9M, or $2.65 per diluted share. By fiscal 2025, revenue fell to $1.2B, net income was -$1.8B, and diluted EPS was -$6.63. The deterioration continued in fiscal Q1 2026, the quarter ended 2026-03-31: revenue $185.2M, net loss $400.6M, diluted EPS -$1.40. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $272.4M, net loss $373.0M, and diluted EPS -$1.30. That quarter's revenue was higher than fiscal Q2 2025's $228.1M, and the loss was smaller than that quarter's $546.5M, but the company is still deeply unprofitable. Financial health is poor: FairStock calculations at the 2026-10-13 close of $4.31 show a P/B of 1.09, ROE of -392.05%, ROCE of -1.53%, debt-to-equity of 27.68, trailing free cash flow of -$758.4M, and FCF yield of -61.6%. The Altman Z-Score is -1.06, indicating distress. The Lynch category is Turnaround, based on a loss in the latest year after earlier profits. Valuation may look asset-supported, but cash burn and leverage dominate. I need evidence of positive free cash flow and debt reduction before calling this a bargain.

In plain English: New Fortress Energy builds and runs natural gas terminals, ships, and gas-fired power facilities. The business looks weak right now: it lost money in fiscal 2025 and kept losing money in fiscal Q2 2026, while burning cash. The share price is low compared with the value of its net assets on paper, but the losses and debt make it hard to call the price truly 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-K (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