(SES) SES AI - Overview
Stock: Lithium Metal Cells, Electrolytes, Battery Materials
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 150% |
| Relative Tail Risk | -10.7% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.84 |
| Alpha | 44.17 |
| Character TTM | |
|---|---|
| Beta | 1.828 |
| Beta Downside | 1.508 |
| Drawdowns 3y | |
|---|---|
| Max DD | 92.31% |
| CAGR/Max DD | -0.19 |
Description: SES SES AI December 29, 2025
SES AI Corp (NYSE: SES) designs and manufactures AI-enhanced lithium-metal and lithium-ion rechargeable batteries for electric vehicles (EVs), urban air mobility, drones, robotics, and stationary energy storage, supplying both cells and key materials such as electrolytes to automotive OEMs. The firm operates primarily in the United States and the Asia-Pacific region and has been active since its 2012 founding in Woburn, Massachusetts.
Industry context suggests strong tailwinds: global lithium-ion demand is projected to grow at ~12% CAGR through 2030, driven by EV sales that are expected to reach 30 million units annually (≈ 30% of total vehicle sales). SES AI’s focus on lithium-metal chemistry could address the cost-per-kWh compression that analysts estimate will fall from ~$150/kWh in 2023 to <$100/kWh by 2027, assuming successful scale-up. Public filings indicate the company raised $75 million in a Series C round in early 2024 and aims to ramp cell output to 10 GWh by 2026, though these targets remain unverified and contingent on supply-chain constraints.
For a data-driven side-by-side comparison of SES AI’s valuation and growth metrics, the ValueRay platform offers a concise dashboard worth reviewing.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -90.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.22 > 0.02 and ΔFCF/TA 1.38 > 1.0 |
| NWC/Revenue: 1095 % < 20% (prev 3467 %; Δ -2372 % < -1%) |
| CFO/TA -0.21 > 3% & CFO -60.9m > Net Income -90.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 8.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (331.3m) vs 12m ago 2.89% < -2% |
| Gross Margin: 97.27% > 18% (prev 0.04%; Δ 9723 % > 0.5%) |
| Asset Turnover: 5.79% > 50% (prev 2.25%; Δ 3.54% > 0%) |
| Interest Coverage Ratio: -6.35 > 6 (EBITDA TTM -85.3m / Interest Expense TTM 15.0m) |
Altman Z'' -7.62
| A: 0.70 (Total Current Assets 230.4m - Total Current Liabilities 28.0m) / Total Assets 288.8m |
| B: -1.23 (Retained Earnings -354.9m / Total Assets 288.8m) |
| C: -0.30 (EBIT TTM -95.4m / Avg Total Assets 319.3m) |
| D: -5.91 (Book Value of Equity -358.0m / Total Liabilities 60.6m) |
| Altman-Z'' Score: -7.62 = D |
Beneish M -1.51
| DSRI: 0.56 (Receivables 3.37m/2.56m, Revenue 18.5m/7.86m) |
| GMI: 0.05 (GM 97.27% / 4.46%) |
| AQI: 4.16 (AQ_t 0.07 / AQ_t-1 0.02) |
| SGI: 2.35 (Revenue 18.5m / 7.86m) |
| TATA: -0.10 (NI -90.5m - CFO -60.9m) / TA 288.8m) |
| Beneish M-Score: -1.51 (Cap -4..+1) = CCC |
What is the price of SES shares?
Over the past week, the price has changed by -7.39%, over one month by -10.05%, over three months by -14.16% and over the past year by +43.51%.
Is SES a buy, sell or hold?
- StrongBuy: 1
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the SES price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 3 | 59.6% |
| Analysts Target Price | 3 | 59.6% |
| ValueRay Target Price | 1.8 | -4.3% |
SES Fundamental Data Overview February 02, 2026
P/B = 3.6315
Revenue TTM = 18.5m USD
EBIT TTM = -95.4m USD
EBITDA TTM = -85.3m USD
Long Term Debt = 8.46m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 2.26m USD (from shortTermDebt, last quarter)
Debt = 8.46m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -26.8m USD (from netDebt column, last quarter)
Enterprise Value = 731.5m USD (741.1m + Debt 8.46m - CCE 18.0m)
Interest Coverage Ratio = -6.35 (Ebit TTM -95.4m / Interest Expense TTM 15.0m)
EV/FCF = -11.56x (Enterprise Value 731.5m / FCF TTM -63.3m)
FCF Yield = -8.65% (FCF TTM -63.3m / Enterprise Value 731.5m)
FCF Margin = -342.4% (FCF TTM -63.3m / Revenue TTM 18.5m)
Net Margin = -490.0% (Net Income TTM -90.5m / Revenue TTM 18.5m)
Gross Margin = 97.27% ((Revenue TTM 18.5m - Cost of Revenue TTM 504.0k) / Revenue TTM)
Gross Margin QoQ = 51.08% (prev 73.72%)
Tobins Q-Ratio = 2.53 (Enterprise Value 731.5m / Total Assets 288.8m)
Interest Expense / Debt = 177.8% (Interest Expense 15.0m / Debt 8.46m)
Taxrate = 21.0% (US default 21%)
NOPAT = -75.4m (EBIT -95.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.23 (Total Current Assets 230.4m / Total Current Liabilities 28.0m)
Debt / Equity = 0.04 (Debt 8.46m / totalStockholderEquity, last quarter 228.2m)
Debt / EBITDA = 0.31 (negative EBITDA) (Net Debt -26.8m / EBITDA -85.3m)
Debt / FCF = 0.42 (negative FCF - burning cash) (Net Debt -26.8m / FCF TTM -63.3m)
Total Stockholder Equity = 256.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -28.35% (Net Income -90.5m / Total Assets 288.8m)
RoE = -35.32% (Net Income TTM -90.5m / Total Stockholder Equity 256.4m)
RoCE = -36.03% (EBIT -95.4m / Capital Employed (Equity 256.4m + L.T.Debt 8.46m))
RoIC = -29.34% (negative operating profit) (NOPAT -75.4m / Invested Capital 256.9m)
WACC = 12.51% (E(741.1m)/V(749.6m) * Re(12.65%) + (debt cost/tax rate unavailable))
Discount Rate = 12.65% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.31%
Fair Price DCF = unknown (Cash Flow -63.3m)
EPS Correlation: -1.89 | EPS CAGR: 135.9% | SUE: 1.68 | # QB: 1
Revenue Correlation: 67.93 | Revenue CAGR: 85.08% | SUE: 1.67 | # QB: 1
EPS next Quarter (2026-03-31): EPS=-0.04 | Chg30d=-0.010 | Revisions Net=+1 | Analysts=2
EPS next Year (2026-12-31): EPS=-0.16 | Chg30d=-0.036 | Revisions Net=-1 | Growth EPS=+13.0% | Growth Revenue=+131.1%