Fermi price to book ratio FRMI

Market value divided by the book value of the company's net assets, since 2025.

Today, Oct 23, 2026: 1.6×
Peer median: 1.5×

Fermi's price to book ratio is 1.6× as of Oct 23, 2026.

It has traded since Nov 14, 2025, and over that time its price to book ratio ranged from 1.6× in Oct 2026 to 37.1× in Nov 2025.

The median for 10 specialty REITs of a similar size is 1.5×.

Price to book ratio over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	1.6×	1.6×	20.9×
2025	15.5×	15.5×	37.1×

Against its peers

Companies in REIT - Specialty nearest Fermi's size, closest first, today.

Company	Price to book ratio
FRMIFermi	1.6×
CBLCBL & Associates Properties	3.6×
BXMTBlackstone Mortgage Trust	0.5×
SMASmartStop Self Storage REIT	1.7×
UMHUMH Properties	1.5×
AATAmerican Assets Trust	1.2×
ALXAlexanders	5.7×
NTSTNETSTREIT	1.1×
IVTInvenTrust Properties	1.3×
LTCLTC Properties	1.9×
FCPTFour Corners Property Trust	1.5×
Peer median	1.5×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Fermi

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.