Factorial Energy (FAC)
Market Price (6/19/2026): $14.6 | Market Cap: $1.6 BilSector: Industrials | Industry: Electrical Components & Equipment
Factorial Energy (FAC)
Market Price (6/19/2026): $14.6Market Cap: $1.6 BilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Battery Technology & Metals, Renewable Energy Transition, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, Show more. | Stock price has recently run up significantly6M Rtn6 month market price return is 284%, 12M Rtn12 month market price return is 353% High stock price volatilityVol 12M is 226% Key risksFAC key risks include [1] scaling manufacturing to achieve commercially viable yields beyond its reported 85% pilot level and [2] converting its strategic automotive partnerships into large-scale vehicle integration. |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Renewable Energy Transition, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, Show more. |
| Stock price has recently run up significantly6M Rtn6 month market price return is 284%, 12M Rtn12 month market price return is 353% |
| High stock price volatilityVol 12M is 226% |
| Key risksFAC key risks include [1] scaling manufacturing to achieve commercially viable yields beyond its reported 85% pilot level and [2] converting its strategic automotive partnerships into large-scale vehicle integration. |
Qualitative Assessment
AI Analysis | Feedback
Factorial Energy (FAC) stock has gained about 245% since 2/28/2026 because of the following key factors:
1. Successful Nasdaq Listing and Substantial Capital Infusion. Factorial Energy (FAC) completed its business combination with a special purpose acquisition company (SPAC), Cartesian Growth Corporation III, and commenced trading on the Nasdaq Stock Market under the ticker symbol "FAC" on June 8, 2026. This transaction implied an equity value of approximately $1.3 billion and provided over $100 million in gross proceeds to fund the company's commercialization efforts. The Nasdaq listing itself resulted in a "strongly positive initial price reaction of +1492.59%" on June 8, 2026.
2. Significant Validation and Advancement of Solid-State Battery Technology. Factorial's proprietary solid-state battery technology, particularly its FEST (Factorial Electrolyte System Technology) cells, received significant validation during the period. Mercedes-Benz completed real-world road testing in a modified EQS vehicle, achieving a range exceeding 1,200 kilometers (over 745 miles) on a single charge with Factorial's FEST cells in fiscal Q3 2025. Furthermore, in fiscal Q2 2026, Factorial announced the integration of its FEST technology into a Stellantis Dodge Charger Daytona development vehicle for road testing in North America, marking the first such automotive integration for Stellantis.
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Factorial Energy (FAC) stock has gained about 245% since 2/28/2026 because of the following key factors:
1. Successful Nasdaq Listing and Substantial Capital Infusion. Factorial Energy (FAC) completed its business combination with a special purpose acquisition company (SPAC), Cartesian Growth Corporation III, and commenced trading on the Nasdaq Stock Market under the ticker symbol "FAC" on June 8, 2026. This transaction implied an equity value of approximately $1.3 billion and provided over $100 million in gross proceeds to fund the company's commercialization efforts. The Nasdaq listing itself resulted in a "strongly positive initial price reaction of +1492.59%" on June 8, 2026.
2. Significant Validation and Advancement of Solid-State Battery Technology. Factorial's proprietary solid-state battery technology, particularly its FEST (Factorial Electrolyte System Technology) cells, received significant validation during the period. Mercedes-Benz completed real-world road testing in a modified EQS vehicle, achieving a range exceeding 1,200 kilometers (over 745 miles) on a single charge with Factorial's FEST cells in fiscal Q3 2025. Furthermore, in fiscal Q2 2026, Factorial announced the integration of its FEST technology into a Stellantis Dodge Charger Daytona development vehicle for road testing in North America, marking the first such automotive integration for Stellantis.
3. Expansion of Strategic Automotive and Industry Partnerships. Factorial Energy further solidified its market position through key partnerships. The company has existing relationships with major automakers including Mercedes-Benz, Stellantis, Hyundai, and Kia. In fiscal Q1 2026, Factorial and Karma Automotive Inc. announced the first U.S. solid-state battery production program for passenger vehicles. Additionally, during fiscal Q1 and Q2 2026, Factorial expanded beyond electric vehicles into the drone and robotics sectors, securing partnerships with integrators such as KULR Technology Group, Tulip Tech B.V., and JRES, and attracting strategic investment from IQT, a strategic investor for the U.S. national security community.
4. Favorable Broader Market Trends for Solid-State Batteries. The period saw a continued optimistic outlook for the solid-state battery market, which is projected for substantial growth. The global solid-state battery market is expected to grow from approximately $119 million in 2025 to over $1.3 billion by 2032. This macro trend, driven by the promise of higher energy density (targeting 400-500 Wh/kg commercially, compared to 200-300 Wh/kg for current lithium-ion batteries) and improved safety, created a positive investment environment for Factorial Energy.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
2/28/2026 to 6/18/2026| Return | Correlation | |
|---|---|---|
| FAC | 247.4% | |
| Market (SPY) | 9.2% | 0.8% |
| Sector (XLI) | 2.4% | -11.5% |
Fundamental Drivers
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Market Drivers
11/30/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| FAC | 305.3% | |
| Market (SPY) | 9.9% | -0.8% |
| Sector (XLI) | 18.4% | -11.0% |
Fundamental Drivers
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Market Drivers
5/31/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| FAC | 355.9% | |
| Market (SPY) | 28.1% | 1.8% |
| Sector (XLI) | 28.4% | -6.3% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 6/18/2026| Return | Correlation | |
|---|---|---|
| FAC | 1263.6% | |
| Market (SPY) | 85.7% | 1.9% |
| Sector (XLI) | 95.3% | -1.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FAC Return | 80% | -66% | 185% | 43% | 39% | 246% | 1118% |
| Peers Return | -31% | -59% | -24% | -6% | 97% | -5% | -62% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| FAC Win Rate | 75% | 8% | 58% | 50% | 83% | 50% | |
| Peers Win Rate | 37% | 38% | 46% | 33% | 50% | 42% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| FAC Max Drawdown | -23% | -66% | -32% | -28% | -19% | -37% | |
| Peers Max Drawdown | -77% | -75% | -66% | -69% | -60% | -50% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: QS, SLDP, AMPX, SES.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | FAC | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.2% | -7.8% |
| % Gain to Breakeven | 11.3% | 8.5% |
| Time to Breakeven | 458 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.6% | -24.5% |
| % Gain to Breakeven | 57.7% | 32.4% |
| Time to Breakeven | 413 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -15.9% | -33.7% |
| % Gain to Breakeven | 18.9% | 50.9% |
| Time to Breakeven | 1 days | 140 days |
In The Past
Factorial Energy's stock fell -3.2% during the 2025 US Tariff Shock. Such a loss loss requires a 3.3% gain to breakeven.
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| Event | FAC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.6% | -24.5% |
| % Gain to Breakeven | 57.7% | 32.4% |
| Time to Breakeven | 413 days | 427 days |
In The Past
Factorial Energy's stock fell -3.2% during the 2025 US Tariff Shock. Such a loss loss requires a 3.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Factorial Energy (FAC)
AI Analysis | Feedback
Analogy 1: It's like the Progressive or Geico for high-risk drivers who struggle to get standard auto insurance.
Analogy 2: Think of it as the 'buy here, pay here' car dealership model, but applied to auto insurance for a non-standard market.
Analogy 3: Essentially the 'subprime' auto insurance provider, similar to how some lenders specialize in subprime mortgages.
AI Analysis | Feedback
- Non-Standard Personal Automobile Insurance: Provides auto insurance policies to individuals who cannot secure coverage from standard carriers due to various risk factors.
- Ancillary Insurance Products: Offers optional products such as reimbursements for medical expenses, hospital stays, towing, rental car, and ambulance services related to automobile accidents.
- Tenant Homeowner Policies: Underwrites policies providing contents and liability coverage specifically for renters.
- Real Estate Disposition: Manages the sale of real estate assets held by the company.
AI Analysis | Feedback
First Acceptance Corporation (Symbol: FAC)
Major Customers
First Acceptance Corporation primarily sells its products to individuals. Based on the provided description, its major customer categories are:
- Drivers seeking non-standard auto insurance due to payment or administrative history: This category includes individuals who have difficulty obtaining insurance from standard carriers due to their payment history, need for monthly payment plans, or failure to maintain continuous insurance coverage.
- High-risk drivers: This category encompasses individuals whose driving record prevents them from securing insurance with standard carriers.
- Renters needing contents and liability coverage: A distinct segment of customers are individuals who are renters and require a tenant homeowner policy for contents and liability coverage.
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AI Analysis | Feedback
AI Analysis | Feedback
Factorial Energy (Nasdaq: FAC), a solid-state battery innovator that recently began trading on Nasdaq on June 8, 2026, faces several key business risks as it moves towards commercializing its technology.
The most significant risks include:
- Manufacturing and Commercialization Challenges: Scaling the production of solid-state batteries from laboratory prototypes to high-volume manufacturing remains the primary hurdle for Factorial Energy and the broader solid-state battery sector. While the company has demonstrated promising results, such as a 745-mile test drive with Mercedes-Benz, achieving economically viable manufacturing yields (typically 90-95% or higher for gigafactories, compared to Factorial's reported 85% pilot yield) is a complex, expensive, and critical execution risk. Challenges include managing production costs, ensuring consistent interface quality, and addressing material compatibility issues. Many battery companies have struggled to bridge the gap between successful prototypes and mass production.
- Competition and Market Adoption: The solid-state battery market is highly competitive, with other companies like QuantumScape and Solid Power also vying for market share. Although Factorial Energy has established partnerships with major automotive manufacturers such as Mercedes-Benz, Stellantis, Hyundai, and Kia, the pace of actual market adoption and integration of these advanced batteries into commercial vehicle fleets is subject to extensive qualification cycles and industry shifts. Furthermore, public trust in emerging battery technologies can be affected by unproven claims from other companies in the sector.
- Technological Hurdles: Despite inherent safety advantages over traditional lithium-ion batteries due to the use of solid electrolytes, solid-state technology still presents specific technical challenges. These include the potential for dendrite formation, where needle-like lithium structures can grow and cause internal short circuits and overheating. Maintaining low cell resistance at the solid-to-solid interfaces between battery components is another complex engineering challenge that can impact power delivery and battery lifespan. While the risk of thermal runaway is reduced, internal shorting could still lead to significant heat release.
AI Analysis | Feedback
AI Analysis | Feedback
Factorial Energy (symbol: FAC) develops and commercializes solid-state batteries for various applications, including electric vehicles (EVs), energy storage, defense & aerospace, drones, robotics, and hyperscale data centers. The addressable markets for these products are substantial and projected to grow significantly worldwide.
Global Solid-State Battery Market (Overall)
- The global solid-state battery market was valued at USD 98.96 million in 2024 and is projected to reach USD 1,359.18 million by 2032, exhibiting a compound annual growth rate (CAGR) of 41.61% from 2025 to 2032.
- Another estimate values the global market at USD 1.60 billion in 2025, anticipating growth to USD 15.65 billion by 2033 at a CAGR of 31.8% from 2026 to 2033.
- Further projections indicate the global solid-state battery market, valued at USD 2.78 billion in 2025, will grow to USD 45.48 billion by 2034 with a CAGR of 36.4% during 2026-2034.
Electric Vehicle (EV) Solid-State Battery Market
- The global EV solid-state battery market size was valued at USD 24.8 million in 2025 and is projected to grow from USD 78.6 million in 2026 to USD 3,582.7 million by 2034, with a remarkable CAGR of 61.2% during the forecast period.
- The global solid-state car battery market was estimated at USD 259.8 million in 2023 and is projected to reach USD 6,889.2 million by 2030, growing at a CAGR of 54.0% from 2024 to 2030.
Energy Storage Market (including solid-state batteries)
- The energy storage solid-state battery market is expected to exceed USD 850 million by 2034 globally.
- The global Data Center Energy Storage Market, which includes emerging solid-state technologies, was valued at USD 7.4 billion in 2025 and is projected to grow to USD 13.2 billion by 2034, with a CAGR of 6.5% during the forecast period.
Drones and Robotics Battery Markets (including solid-state batteries)
- The global drone battery market is projected to reach USD 48.99 billion by 2033, up from USD 8.13 billion in 2024. Specific to solid-state, breakthroughs in technology are offering higher energy density and quicker charging for UAVs.
- The global drone battery market size is predicted to increase from USD 10.46 billion in 2026 to approximately USD 45.64 billion by 2035, expanding at a CAGR of 17.65% from 2026 to 2035.
- The Global Robotics Batteries Market, which incorporates solid-state chemistry, is projected to reach an estimated value of USD 9.8 billion by 2030, growing from USD 5.6 billion in 2024 at a CAGR of 9.8%.
The Asia Pacific region consistently dominates or leads in growth across these markets, with North America, particularly the U.S., also showing significant expansion.
AI Analysis | Feedback
For First Acceptance Corporation (symbol: FACO), which specializes in non-standard personal automobile insurance and ancillary products, several key drivers are expected to contribute to future revenue growth over the next 2-3 years:
- Growth in Premiums Written and Regulatory Rate Increases: The company aims to increase its revenue through a combination of growing the volume of premiums written and implementing necessary regulatory rate increases. This strategy has been a primary factor in its financial turnaround, alongside continuous monitoring and adjusting of underwriting standards.
- Leveraging and Expanding the Independent Agency Distribution Platform: First Acceptance Corporation is strategically positioned to capitalize on its expanding independent agency distribution platform. This focus on a growing distribution channel is expected to enhance customer acquisition and policy sales. The company distributes its products through its retail locations, call centers, and the Internet.
- Increased Investment Income: Growth in investment income is a significant contributor to the company's overall revenue. Investment income saw a substantial increase from $3.9 million in 2022 to $18.4 million in 2024, driven by favorable market conditions and an increase in cash and invested assets.
- Expansion of Ancillary Product Offerings: First Acceptance Corporation already provides a range of ancillary products, including reimbursements for medical expenses, hospital stays, automobile towing, rental, and ambulance services, as well as tenant homeowner policies. Expanding the reach or increasing the uptake of these additional products presents an opportunity for further revenue growth.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 8.04 |
| Mkt Cap | 1.6 |
| Rev LTM | 18 |
| Op Inc LTM | -90 |
| FCF LTM | -67 |
| FCF 3Y Avg | -76 |
| CFO LTM | -61 |
| CFO 3Y Avg | -63 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 174.2% |
| Rev Chg 3Y Avg | 119.7% |
| Rev Chg Q | 15.8% |
| QoQ Delta Rev Chg LTM | 4.4% |
| Op Inc Chg LTM | 21.0% |
| Op Inc Chg 3Y Avg | -3.8% |
| Op Mgn LTM | -352.3% |
| Op Mgn 3Y Avg | -374.3% |
| QoQ Delta Op Mgn LTM | 9.5% |
| CFO/Rev LTM | -252.4% |
| CFO/Rev 3Y Avg | -259.6% |
| FCF/Rev LTM | -262.8% |
| FCF/Rev 3Y Avg | -342.3% |
Price Behavior
| Market Price | $14.59 | |
| First Trading Date | 04/09/2018 | |
| Distance from 52W High | -33.5% | |
| 50 Days | 200 Days | |
| DMA Price | $9.01 | $9.08 |
| DMA Trend | up | up |
| Distance from DMA | 62.0% | 60.6% |
| 3M | 1YR | |
| Volatility | 910.5% | 271.7% |
| Downside Capture | -398.36 | 38.34 |
| Upside Capture | 403.15 | 230.32 |
| Correlation (SPY) | -4.5% | 1.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | � | � | 0.46 | 0.40 | 0.79 | 0.26 |
| Up Beta | � | � | 0.01 | 0.09 | 0.45 | 0.11 |
| Down Beta | � | � | 0.46 | 0.37 | 0.19 | 0.21 |
| Up Capture | 0% | 0% | 55% | 64% | 121% | 32% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 0 | 0 | 9 | 34 | 72 | 241 |
| Down Capture | -0% | -0% | 74% | 37% | 108% | 32% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 0 | 0 | 7 | 25 | 81 | 258 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FAC | |
|---|---|---|---|---|
| FAC | 55.6% | 80.2% | 1.24 | - |
| Sector ETF (XLI) | 28.7% | 16.2% | 1.38 | -13.5% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | -0.7% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | -12.9% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | 2.3% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 12.2% |
| Bitcoin (BTCUSD) | -38.3% | 42.4% | -1.02 | 8.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FAC | |
|---|---|---|---|---|
| FAC | 75.1% | 77.5% | 1.61 | - |
| Sector ETF (XLI) | 13.5% | 17.5% | 0.61 | -1.0% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 0.1% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | -6.9% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | -2.6% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 4.1% |
| Bitcoin (BTCUSD) | 11.6% | 54.2% | 0.41 | 3.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FAC | |
|---|---|---|---|---|
| FAC | 44.1% | 82.1% | 1.18 | - |
| Sector ETF (XLI) | 14.2% | 20.0% | 0.62 | 3.6% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 2.9% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | -1.9% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 0.2% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 5.1% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 4.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Electrical Components & Equipment Resources |
| EC&M (Electrical Construction & Maintenance) |
| Electrical Contracting News (ECN) |
| EE Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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