SES AI Corporation (SES) AI Stock Analysis

SES AI Corporation specializes in the research, development, and manufacturing of advanced Lithium-metal rechargeable batteries tailored for electric vehicles (EVs), electric vehicle vertical take-off and landing (eVTOL) aircraft, and various other applications. Established in 2012 and based in Woburn, Massachusetts, the company addresses the growing demand for efficient and sustainable energy storage solutions in the automotive and aerospace sectors. Its Lithium-metal batteries are designed to enhance the range, efficiency, and longevity of electric vehicles, as well as to support urban air mobility for eVTOL aircraft. Through strategic partnerships and continuous research and development, the company continues to expand its battery manufacturing capabilities across diverse industries.

Revenue rose to $21.0M in FY2025 from $2.0M in FY2024, representing growth of 929.4%, though gross margin contracted from 63.1% to 53.8%. Operating margin was -393.4% in FY2025, improving from -5355.3% in FY2024, while net income was -$73.0M compared to -$100.2M the previous year. Research and development expense totaled $67.0M in FY2025. Over the trailing twelve months, revenue reached $23.5M with an operating margin of -378.5% and a net profit margin of -289.6%. For the latest quarter ended June 30, 2026, quarterly revenue grew 43.8% year-over-year.

As of June 30, 2026, SES AI Corporation held $163.0M in cash and short-term investments alongside total debt of $6.7M, leaving net cash of $156.3M. The current ratio stood at 6.52, and debt-to-equity was 0.04 against $187.1M in shareholders' equity. For FY2025, operating cash flow was -$58.4M, free cash flow was -$61.2M, and capital expenditures were $2.9M. The company directed $1.6M toward share buybacks in FY2025, while its share count expanded 443.1% over a 5-year period.

SES AI Corporation trades at a price-to-sales multiple of 11.3x and an enterprise value to revenue multiple of 2.2x, compared to the median of its US-listed Consumer Cyclical peers of 0.7x for price-to-sales. Its price-to-book ratio is 1.1x. Over the past year, the stock fell 77.3%, underperforming the S&P 500 (SPY) return of 16.8%. Over a 5-year period, the stock declined 92.8% against an 83.0% gain for the benchmark index.

Wall Street coverage includes 1 Strong Buy and 1 Hold rating. The mean price target is $2.55, representing an upside of 257.1% from the last close of $0.71. For the current fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.15 on revenue of $32.2M. For the next fiscal year, 3 analysts project revenue of $66.6M, representing 107.1% revenue growth, and an EPS of -$0.14. The company has beat EPS estimates in 2 of the last 4 quarters, with the next earnings date set for November 4, 2026.

This page is an AI-written research summary of SES AI Corporation (SES). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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