Surf Air Mobility Inc. Common Stock (SRFM)

FairStock Score: 14/100 — RISKY

Key Financials

AI Analysis

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

I look for businesses with durable advantages, honest stewards, and a margin of safety. Surf Air Mobility fails the first test on the numbers. It operates scheduled and on-demand flights, a capital-intensive and competitive industry, and I see no evidence of pricing power. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $29.5 million while net loss was $28.1 million—a -95.34% margin. That is not a business; it is a cash furnace. Fiscal year 2025, ended 2025-12-31, produced $106.6 million of revenue and a $110.6 million net loss. Fiscal year 2024 had $119.4 million of revenue and a $74.9 million loss, so the top line actually fell while losses widened. Fiscal year 2023 lost $250.7 million on $60.5 million of revenue. FairStock assigns no Lynch category because it lost money in each of the last four years. The FairStock calculations show a P/E of -0.56, free cash flow yield of -76.4%, Piotroski F-Score 4/9, Altman Z-Score -9.25, and a FairStock Score of 14/100. Those are distress markers, not value markers. The stock closed at $0.89 on 2026-10-13, with an $89.4 million market cap. The company burns $68.3 million of free cash flow in the trailing twelve months, so the annual cash burn is nearly the entire market value. A beta of 2.52 and a 52-week range of $0.46 to $5.56 confirm speculation. Graham would demand earnings and asset protection; neither is visible. Buffett might say airlines have historically eaten capital, and this one is no exception so far. Without a path to positive earnings and free cash flow, the price reflects hope, not value.

In plain English: Surf Air Mobility runs scheduled and on-demand flights. It is losing money: in the quarter ended June 30, 2026, revenue was $29.5 million and net loss was $28.1 million. At $0.89 on October 13, 2026, the stock looks expensive against those losses because the company has not shown profits and is burning cash.

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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