A Business at a Glance
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Unless the context indicates otherwise, references in this Annual Report on Form 10-K for the year ended December 31, 2024 (this “Form 10-K”) to “FFAI” or “FFIE” refer to Faraday Future Intelligent Electric Inc. (f/k/a Property Solutions Acquisition Corp.), a holding company incorporated in the State of Delaware, and not to its subsidiaries, and references herein to the “Company,” “we,” “us,” “our,” and similar terms refer to Faraday Future Intelligent Electric Inc. and its consolidated subsidiaries, a complete list of which is set forth in Exhibit 21.1 to this Form 10-K forms a part. The Company refers to our primary operating subsidiary in the U.S., Faraday&Future Inc., as “FF U.S.” The Company refers to all our subsidiaries organized in China (including Hong Kong) collectively as the “PRC Subsidiaries.” As of December 31, 2024, our only operating subsidiaries in mainland China and in Hong Kong are FF Automotive (China) Co. Ltd., Ruiyu Automotive (Beijing) Co., Ltd.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 642K | - | - | 0 |
| Net Income | -478M | -356M | -432M | -602M |
| EPS | $-3.69 | $-4.18 | $-5.07 | $-54.76 |
| Free Cash Flow | -111M | -78M | -309M | -506M |
| ROIC | -82.4% | -80.7% | -89.7% | -181.2% |
| Gross Margin | -16016.5% | - | - | - |
| Debt/Equity | 0.00 | 0.34 | 0.11 | 0.03 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -329M | -150M | -286M | -437M |
| Operating Margin | -51255.5% | - | - | - |
| ROE | 0.0% | -207.4% | -189.2% | -299.6% |
| Shares Outstanding | 169M | 85M | 85M | 11M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 0 | N/A | N/A | 642K |
| Gross Margin | N/A | N/A | N/A | -16016.5% |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | -437M | -286M | -150M | -329M |
| Op. Margin | N/A | N/A | N/A | -51255.5% |
| Net Income | -602M | -432M | -356M | -478M |
| Net Margin | N/A | N/A | N/A | -74517.1% |
| Non-Recurring | -2.7M | -4.5M | -1.7M | -1.7M |
| Returns on Capital | ||||
| ROIC | -181.2% | -89.7% | -80.7% | -82.4% |
| ROE | -299.6% | -189.2% | -207.4% | 0.0% |
| ROA | -113.8% | -81.4% | -74.4% | -151.6% |
| Cash Flow | ||||
| Op. Cash Flow | -383M | -278M | -70M | -98M |
| Free Cash Flow | -506M | -309M | -78M | -111M |
| Owner Earnings | -404M | -330M | -150M | -177M |
| CapEx | 123M | 31M | 7.6M | 13M |
| Maint. CapEx | 3.0M | 42M | 71M | 71M |
| Growth CapEx | 120M | 0 | 0 | 0 |
| D&A | 3.0M | 42M | 71M | 71M |
| CapEx/OCF | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 767K | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | 0.0% |
| Stock-Based Comp | 18M | 9.2M | 8.4M | 8.4M |
| Debt Repayment | 3.8M | 2.5M | 2.1M | 2.1M |
| Balance Sheet | ||||
| Net Debt | -10M | 24M | 32M | -63M |
| Cash & Equiv. | N/A | N/A | N/A | 63M |
| Long-Term Debt | 6.6M | 25M | 39M | 39M |
| Debt/Equity | 0.03 | 0.11 | 0.34 | 0.00 |
| Interest Coverage | -6.0 | -615.2 | -30.8 | -30.8 |
| Equity | 201M | 228M | 115M | -78M |
| Total Assets | 529M | 531M | 425M | 316M |
| Total Liabilities | 328M | 302M | 310M | 355M |
| Intangibles | N/A | N/A | N/A | N/A |
| Retained Earnings | -3.5B | -4.0B | -4.3B | -4.3B |
| Working Capital | -184M | -170M | -121M | -121M |
| Current Assets | 85M | 91M | 72M | 72M |
| Current Liabilities | 268M | 261M | 193M | 193M |
| Per Share Data | ||||
| EPS | -54.76 | -5.07 | -4.18 | -3.69 |
| Owner EPS | -36.70 | -3.88 | -1.76 | -1.05 |
| Book Value | 18.27 | 2.68 | 1.35 | -0.46 |
| Cash Flow/Share | -34.83 | -3.27 | -0.82 | -2.40 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 11.0M | 85.1M | 85.1M | 169.3M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -0.1 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | 165.5 | 11.6 | 1.3 | N/A |
| Price/Sales | N/A | N/A | N/A | 81.7 |
| FCF Yield | -1.5% | -11.7% | -51.9% | -211.5% |
| Market Cap | 33.3B | 2.6B | 150M | 52M |
| Avg. Price | 26,806.35 | 2,432.38 | 9.67 | 0.31 |
| Year-End Price | 3,024.00 | 31.08 | 1.76 | 0.31 |
FARADAY FUTURE INTELLIGENT ELECTRIC INC. passes 0 of 9 quality checks, indicating weak fundamentals.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) has a 5-year average return on invested capital (ROIC) of -117.2%. This is below average and may indicate limited pricing power.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) has a market capitalization of $52M. It is classified as a small-cap stock.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) does not currently pay a regular dividend.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) operates in the Motor Vehicles & Passenger Car Bodies industry, within the Consumer Cyclical sector.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) generated $-78 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) has a debt-to-equity ratio of 0.34. This indicates a conservatively financed balance sheet.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) reported earnings per share (EPS) of $-4.18 in its most recent fiscal year.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) has a return on equity (ROE) of -207.4%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 3 years of financial data for FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) has a book value per share of $1.35, based on its most recent annual SEC filing.