SES AI Corporation Class A Common Stock (SES)

FairStock Score: 57/100 — STEADY

Key Financials

AI Analysis

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

Mr. Market offers me SES AI at $1.00, a $336.3M market cap as of the 2026-10-13 close. I see a small battery developer with real revenue growth: filed FY2024 revenue was $2.0M and FY2025 revenue was $21.0M. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $5.1M versus $3.5M in fiscal Q2 2025, the quarter ended 2025-06-30. But the income statement remains ugly: FY2025 net loss was $73.0M, and fiscal Q2 2026 net loss was $17.9M on a -352.98% margin. FairStock’s trailing free cash flow was -$60.5M, an -18.0% FCF yield, so the company consumes capital. The balance sheet has low leverage, with D/E 0.04, but FairStock’s calculations show ROE -31.15%, ROCE -17.42%, Piotroski 3/9, and Altman 2.28, suggesting fragility and no earning power. The Lynch screen finds no category because it lost money in each of the last four years. Valuation gives me no Graham margin: at that close, P/B is 2.00 for a loss-making firm and P/E is -5.00. The 52-week range of $0.49-$3.60 shows how speculative the stock is. The business might have a future in lithium-metal batteries for EVs, drones, robotics, and storage, but I cannot identify a durable moat from these figures. Revenue growth from $2.0M to $21.0M is impressive in percentage terms, yet the base is tiny and losses remain enormous. Until SES shows narrowing cash burn and a path to profit, I would call this a speculative option, not a value investment.

In plain English: SES AI makes advanced rechargeable batteries for electric vehicles, drones, robots, and energy storage. It is still a very small company that loses money every quarter, even though sales are growing. At $1.00 a share, the price looks low, but because there are no profits and cash is being used up, it is not cheap based on today's business results.

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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