FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) Stock Analysis
FARADAY FUTURE INTELLIGENT ELECTRIC INC.
▾ What's in the 37/100 risk score? (higher = riskier)
Contributions (weight × component score) sum to the total. This near-term score now includes fundamental health (leverage, FCF trend). See the Financial Health section for the full balance-sheet read.
How to read FFAI (speculative micro-cap)
No model can pin a precise fair value on a company this small — but that does not mean there is nothing to learn. The useful questions are what the price is betting on, and whether the company can survive long enough to deliver it.
-
1
Reverse-DCF — what growth the price assumes ↓
The single most useful number here: it backs out the growth the market is paying for. If that figure is "historically unprecedented," the price is running on hype, not fundamentals.
-
2
Cash runway ↓
A pre-profit micro-cap lives or dies on whether it can fund itself to profitability before running out of money and diluting you.
-
3
The raw financial statements + the 10-K ↓
At this scale, the actual numbers, insider ownership, and share-count trend tell you more than any ratio.
The share count we read for FFAI looks wrong — common for multi-class / founder-controlled filers that report shares per share-class. That makes per-share figures (including intrinsic value) misleading, so we suppressed them. The company's total financials below are sound.
What to use instead: Lean on the totals — revenue, net income, cash flow — and the balance sheet. Multi-class share counts are being corrected; once fixed, the per-share valuation returns automatically.
This note is only about the single DCF fair-value number — FFAI's full financial statements, health scores, and written analysis are all below.
How to read a company this small
FFAI is too small and/or too volatile for the valuation lenses we use on larger, more stable companies. The numbers shown below should be taken as rough orientation only.
- Latest annual revenue $536K — too small for meaningful growth percentages
Growth percentages on tiny revenue bases (1000% going from $200K to $2M is not predictive). P/E and ROE swing wildly with small earnings changes. Peer comparisons fail because there often aren't comparable companies at this scale.
Start with the Reverse-DCF above — it backs out the growth the price is betting on; if that figure is "historically unprecedented," the price is running on hype, not fundamentals. Then the cash runway (can it fund itself to profitability before diluting you?). Then the raw Financials table and the 10-K on SEC EDGAR — at this scale, insider ownership and the share-count trend often matter more than any ratio.
Classified as Speculative Nano / Micro-cap (confidence 80%). Disagree? An admin can override via the post edit screen.
Quality & solvency checks
Cheap stocks can be cheap for a reason. These screens warn when a low valuation comes paired with structural fragility.
Why it matters: Cheap-looking stocks (low P/E or P/B) often have low Z-scores because the market knows the company is dying. Z-score warns you before you fall into a value trap.
Reference: > 3.0 = safe zone · 1.81–3.0 = grey zone · < 1.81 = distress zone
Full explanation →
The Z-score needs working capital, retained earnings, EBIT, sales and total assets from the latest balance sheet, and at least one of those isn't reported in machine-readable form here — common for foreign private issuers. We leave it blank rather than compute a distress verdict from an estimated input. It doesn't affect the reported figures in the financial tables below.
▾ The checks — what passed, what didn't (and what we couldn't measure)
-
✗ Positive net incomeNet income -$390.7M in FY2025.Why this matters: Does the company actually earn a profit? Sustained losses eventually force it to raise money — diluting you — or take on debt.
-
✗ Positive operating cash flowOperating cash flow -$107.6M (was -$70.2M the prior year).Why this matters: Profit can be an accounting figure; cash from running the business is harder to fake. Negative operating cash flow means the core business consumes cash and must be funded externally.
-
✓ Cash flow backs up reported profitOperating cash flow -$107.6M vs net income -$390.7M.
-
✗ Return on assets improvingReturn on assets -140.6% vs -83.6% a year ago.Why this matters: Is the company squeezing more profit out of each dollar of assets than last year? Rising = getting more efficient; falling = the opposite.
-
✓ Debt load (vs assets)The filing reports no interest-bearing debt in either year (total assets $277.9M).
-
✓ Short-term liquidity (current ratio)Current ratio 0.46x vs 0.37x a year ago — improved, but still below 1.0: the ✓ grades the trend, the level remains a caution flag.
-
· Share count (dilution) (n/a — data not reported; not scored)
-
✗ Pricing power (gross margin)Gross margin -18,239.9% vs -15,489.8% a year ago.Why this matters: Rising gross margin means stronger pricing power or lower input costs — a sign of competitive strength. Falling margin signals pressure.
-
✓ Sales per asset (asset turnover)Asset turnover 0.00x vs 0.00x a year ago.
Missing data is never counted as a pass or a fail — it's shown as n/a and excluded from the denominator. Each check compares the company against its own prior year.
Plain English: the company holds about $35M in cash and is burning roughly $108M/year in operations. At that pace, the cash lasts 4 mo before it must raise capital (diluting shareholders), take on debt, or cut spending.
Assumes constant burn and ignores financing/asset sales. For pre-profit biotech and growth companies, this matters more than a DCF — a great drug pipeline is worthless if they run out of money before approval.
A standard discounted cash flowDCF — Discounted Cash Flow — sums up all future cash a business will produce, adjusted for the fact that future dollars are worth less than dollars today.
Why it matters: It is the most fundamentally honest valuation method when applicable — but only works for companies with predictable, positive cash flow.
Reference: Best for: mature, profitable businesses. Fails for: pre-profit growth, banks, REITs.
Full explanation → valuation is not meaningful for Faraday Future Intelligent Electric Inc. due to its consistently negative operating cash flow and net income, indicating a cash-burning growth stage. Investors are likely betting on the successful launch and scaling of its luxury EV production and future revenue growth. The primary quantifiable risk is its current ratio of 0.46, signaling significant liquidity challenges.
As of 3 months ago
Anatomy of a share
What you're buying per share. Bars are at the same scale so you can see the relative size of revenue, costs, cash flow, and debt — not just read them in a table.
What you actually need to decide
Every stock price is a disagreement. Here's the single thing that must go right for the bulls, the single thing that breaks the thesis, and the concrete signposts to watch so you can update your view as real results arrive.
- Quarterly vehicle delivery numbers
- Updates on production capacity and efficiency
- Improvements in the current ratio
The trend, in plain numbers (FY2024 → FY2025, latest reported)
Straight from the financial statements — no model, no opinion. For a small or unprofitable company, the direction of these numbers usually tells you more than any single valuation.
- Free cash flow is negative at -$118.4M — the cash burn widened vs last year.
- Gross margin shrank to -18,240% (-2,750 pts).
- Still unprofitable at -$390.7M — loss widening.
Nothing was clearly improving year-over-year.
Roughly flat: Revenue was flat -1% to $536K.
Management & Leadership
Faraday Future Intelligent Electric Inc. is led by CEO Matthias Aydt, who assumed the role in 2023. The company was founded by Jia Yueting, who also serves as Chief Product & User Ecosystem Officer.
What They Make
Faraday Future Intelligent Electric Inc. designs, develops, manufactures, and sells ultra-luxury, high-performance electric vehicles. Its primary customers are high-net-worth individuals seeking premium EV experiences.
End Markets
Revenue Drivers
Why Is It Priced Like This?
Why Customers Pay
What we use instead: earnings (P/E, EV/EBIT), book value (P/B) — computed from the figures this company does report, shown in the sections below. Those numbers are unaffected by the missing cash-flow data.
The market's pricing for FFAI is driven by expectations of future success in the luxury EV market, rather than current cash flow, which is negative. Investors are likely focused on the company's ability to ramp up production and generate significant revenue, despite its current ratio of 0.46 indicating liquidity concerns.
Business Model & Valuation
How They Make Money
The company funds itself primarily through equity raises, as indicated by its negative operating cash flow and net income.
Normalized FCF
Cyclical/commodity sector (Auto Manufacturers) with negative current FCF: normalized FCF uses multi-year median to smooth through the cycle.
Show advanced inputs
| Revenue Growth | -17.3% |
| Sector Default | 8.0% |
| Best Estimate | -9.7% |
| Method | blend(70% revenue_cagr, 30% sector) |
| Growth Basis | total |
What this model does NOT do: this is a consolidated owner-earnings FCF model. Standalone segment assumptions: none. It does not project its revenue segments independently; their combined effect is embedded in the historical revenue and cash-flow trend the model extrapolates. The calculator above can only approximate a segment's impact through the single consolidated growth rate — it cannot model any one line separately. For a true segment-level view, build a separate model from the company's segment disclosures.
Maturity & Competitive Position
Moat Signals
Net income and operating cash flow have been consistently negative over the last five years.
Geography & Markets
Faraday Future Intelligent Electric Inc. is headquartered in the United States and primarily targets the global luxury electric vehicle market, with a focus on North America and potentially China, though specific geographic revenue mix is not available.
Geographic Risks
Market Signals
These are timing signals, not value signals — they describe the stock's recent price behavior, not what the business is worth. Use them for the "the thesis looks good, but is now the moment?" question. Each tile below explains what it's saying.
Why it matters: Short-term contrarian indicator. Extreme readings often precede mean reversion, though not always.
Reference: 30–70 normal · >70 overbought · <30 oversold
Full explanation → (14)51.5NeutralMomentum is balanced — neither overbought nor oversold.
Why it matters: When the fast line crosses above the slow line, short-term momentum is turning up; below, turning down. A timing cue, not a value signal.
Reference: Line above signal = bullish momentum · below = bearish
Full explanation →BearishLine below signalThe fast trend is below the slow trend — short-term momentum is currently downward.
Technicals describe price, not the business. A great company can have a "bearish" tape (a buying chance) and a weak one a "bullish" tape (a trap). Pair these with the valuation and health sections above.
QUALITY
Data Quality & Risk Flags (12 notes — click to expand/collapse)
Guardrail Notes (11)
- Median OCF is negative — OCF-based normalization not applicable.
- Normalized OCF-capex was negative. Falling back to median raw FCF.
- No positive normalized FCF. Using EPS as proxy.
- Historical FCF growth is negative (-9.7%) - likely reflects commodity cycle peak. Flooring at 0%.
- Model implies no positive equity value under these assumptions. Valuation is speculative/low-confidence.
- Shares from unknown — per-share values may be less accurate.
- Illiquidity discount 25% applied (small/micro-cap — harder to exit, demand a margin).
- Shares/market cap missing or defaulted; per-share valuation unreliable.
- Shares defaulted to 1; IV is NOT meaningful — treat as data-unavailable.
- Extreme valuation (P/IV withheld — see the note above); output dominated by data/units issue (often a multi-class share-count mismatch). Suppressed.
- DATA UNAVAILABLE: per-share values suppressed due to missing/unreliable shares data.
FINANCIALS
Financial Statements (5-year tables — click to expand)
From FARADAY FUTURE INTELLIGENT ELECTRIC INC.'s SEC filings (EDGAR).
Income (5yr)
| Year | Revenue | Net Income | EPS |
|---|---|---|---|
| 2025 | 536,000 | -390.7M | — |
| 2024 | 539,000 | -355.8M | — |
| 2023 | 784,000 | -431.7M | — |
| 2022 | — | -602.2M | — |
| 2021 | — | -516.5M | — |
Cash Flow (5yr)
| Year | Operating CF | CapEx | − SBC & adj. | Free Cash Flow |
|---|---|---|---|---|
| 2025 | -107.6M | 7.6M | 3.2M | -118.4M |
| 2024 | -70.2M | 7.6M | 8.4M | -86.1M |
| 2023 | -278.2M | 31.1M | 9.2M | -318.5M |
| 2022 | -383.1M | 123.2M | 17.7M | -523.9M |
| 2021 | -339.8M | 95.7M | 11.3M | -446.8M |
How we define FCF: operating cash flow − capital expenditure − stock-based compensation (owner-earnings basis — SBC is a real cost to shareholders even though it's non-cash). Latest year: -107.6M − 7.6M − 3.2M (SBC & adj.) = -118.4M. This is the same owner-earnings FCF definition the valuation model uses, though the DCF's starting value is a mid-cycle estimate (median operating cash flow less estimated maintenance capex and stock compensation — by design NOT the table's FCF, which deducts every year's full capex), not this single year.
Balance Sheet
| Total Assets | 277.9M |
| Total Liabilities | 270.1M |
| Equity | -27.3M |
Similar companies worth a look
Same sector and industry, similar fundamentals shape. Verify everything yourself — this list is computed mechanically and does not reflect our judgment about whether any of these are a good investment.