SES AI (SES)
Market Price (5/14/2026): $1.05 | Market Cap: $349.5 MilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment
SES AI (SES)
Market Price (5/14/2026): $1.05Market Cap: $349.5 MilSector: Consumer DiscretionaryIndustry: Automotive Parts & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -50% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 180% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -45% Megatrend and thematic driversMegatrends include Battery Technology & Metals, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, and EV Manufacturing. | Weak multi-year price returns2Y Excs Rtn is -71%, 3Y Excs Rtn is -114% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -77 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -352% Expensive valuation multiplesP/SPrice/Sales ratio is 16x Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 42% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -252%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -263% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -25% High stock price volatilityVol 12M is 108% Key risksSES key risks include [1] the significant challenge of successfully developing and commercializing its largely unproven Li-Metal battery technology, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -50% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 180% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -45% |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, and EV Manufacturing. |
| Weak multi-year price returns2Y Excs Rtn is -71%, 3Y Excs Rtn is -114% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -77 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -352% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 16x |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 42% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -252%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -263% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -25% |
| High stock price volatilityVol 12M is 108% |
| Key risksSES key risks include [1] the significant challenge of successfully developing and commercializing its largely unproven Li-Metal battery technology, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Significantly lower-than-expected 2026 revenue guidance.
On March 4, 2026, SES AI announced its full-year 2026 revenue guidance of $30 million to $35 million. This projection fell significantly short of the $51.67 million analysts had anticipated. The day after this announcement, on March 5, 2026, the stock price plummeted by $0.63 per share, marking a 36.8% decline. This indicated a substantial negative revision of the company's future financial outlook from investor expectations.
2. Q4 2025 revenue miss coupled with disclosed logistics constraints.
SES AI reported Q4 2025 revenue of $4.6 million on March 4, 2026, missing the consensus analyst estimate of $6.64 million. The company also disclosed that approximately $1.5 million of expected revenue for Q4 2025 was pushed into Q1 2026 due to logistics constraints. This operational issue directly impacted the reported revenue, contributing to investor disappointment.
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Stock Movement Drivers
Fundamental Drivers
The -49.3% change in SES stock from 1/31/2026 to 5/13/2026 was primarily driven by a -57.0% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5132026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.03 | 1.03 | -49.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18 | 22 | 18.6% |
| P/S Multiple | 36.4 | 15.6 | -57.0% |
| Shares Outstanding (Mil) | 331 | 333 | -0.5% |
| Cumulative Contribution | -49.3% |
Market Drivers
1/31/2026 to 5/13/2026| Return | Correlation | |
|---|---|---|
| SES | -49.3% | |
| Market (SPY) | 7.6% | 42.1% |
| Sector (XLY) | -1.8% | 27.6% |
Fundamental Drivers
The -56.4% change in SES stock from 10/31/2025 to 5/13/2026 was primarily driven by a -77.3% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5132026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.36 | 1.03 | -56.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11 | 22 | 92.9% |
| P/S Multiple | 68.9 | 15.6 | -77.3% |
| Shares Outstanding (Mil) | 332 | 333 | -0.3% |
| Cumulative Contribution | -56.4% |
Market Drivers
10/31/2025 to 5/13/2026| Return | Correlation | |
|---|---|---|
| SES | -56.4% | |
| Market (SPY) | 9.5% | 40.3% |
| Sector (XLY) | -0.6% | 30.9% |
Fundamental Drivers
The 14.6% change in SES stock from 4/30/2025 to 5/13/2026 was primarily driven by a 179.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5132026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.90 | 1.03 | 14.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8 | 22 | 179.8% |
| P/S Multiple | 37.8 | 15.6 | -58.6% |
| Shares Outstanding (Mil) | 329 | 333 | -1.1% |
| Cumulative Contribution | 14.6% |
Market Drivers
4/30/2025 to 5/13/2026| Return | Correlation | |
|---|---|---|
| SES | 14.6% | |
| Market (SPY) | 35.4% | 32.9% |
| Sector (XLY) | 21.3% | 24.6% |
Fundamental Drivers
The -36.8% change in SES stock from 4/30/2023 to 5/13/2026 was primarily driven by a null change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5132026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.63 | 1.03 | -36.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 22 | 9.2233720368547763E17% |
| P/S Multiple | ∞ | 15.6 | |
| Shares Outstanding (Mil) | 311 | 333 | -6.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2023 to 5/13/2026| Return | Correlation | |
|---|---|---|
| SES | -36.8% | |
| Market (SPY) | 85.5% | 20.8% |
| Sector (XLY) | 64.6% | 20.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SES Return | -7% | -68% | -42% | 20% | -18% | -44% | -91% |
| Peers Return | 10% | -55% | -13% | -14% | 94% | 21% | -13% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| SES Win Rate | 40% | 50% | 42% | 17% | 42% | 40% | |
| Peers Win Rate | 46% | 35% | 50% | 40% | 52% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| SES Max Drawdown | -10% | -68% | -56% | -85% | -82% | -49% | |
| Peers Max Drawdown | -32% | -66% | -43% | -50% | -43% | -28% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: QS, SLDP, ENVX, AMPX.
[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 5/13/2026 (YTD)
How Low Can It Go
| Event | SES | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -59.7% | -18.8% |
| % Gain to Breakeven | 148.1% | 23.1% |
| Time to Breakeven | 43 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -29.0% | -7.8% |
| % Gain to Breakeven | 40.9% | 8.5% |
| Time to Breakeven | 139 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -37.2% | -9.5% |
| % Gain to Breakeven | 59.1% | 10.5% |
| Time to Breakeven | 709 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -57.9% | -6.7% |
| % Gain to Breakeven | 137.7% | 7.1% |
| Time to Breakeven | 881 days | 31 days |
In The Past
SES AI's stock fell -59.7% during the 2025 US Tariff Shock. Such a loss loss requires a 148.1% gain to breakeven.
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Asset Allocation
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| Event | SES | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -59.7% | -18.8% |
| % Gain to Breakeven | 148.1% | 23.1% |
| Time to Breakeven | 43 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -29.0% | -7.8% |
| % Gain to Breakeven | 40.9% | 8.5% |
| Time to Breakeven | 139 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -37.2% | -9.5% |
| % Gain to Breakeven | 59.1% | 10.5% |
| Time to Breakeven | 709 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -57.9% | -6.7% |
| % Gain to Breakeven | 137.7% | 7.1% |
| Time to Breakeven | 881 days | 31 days |
In The Past
SES AI's stock fell -59.7% during the 2025 US Tariff Shock. Such a loss loss requires a 148.1% 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 SES AI (SES)
AI Analysis | Feedback
Intel for EV batteries: SES AI develops and produces advanced batteries, the crucial power component for electric vehicles, much like Intel provides the foundational processors for computers.
Qualcomm for EV power: Like Qualcomm provides the core chip technology for smartphones, SES AI develops the advanced battery technology that powers electric vehicles.
AI Analysis | Feedback
- Lithium-metal rechargeable batteries: SES AI develops and produces high-performance Lithium-metal rechargeable batteries primarily for electric vehicles and other applications.
AI Analysis | Feedback
SES AI Corporation primarily sells its high-performance Lithium-metal rechargeable batteries and related technology to other companies, specifically major automotive manufacturers (OEMs) for use in electric vehicles.
Its major customers and strategic partners, with whom it has joint development agreements for A-sample battery programs, include:
- General Motors Company (Symbol: NYSE: GM)
- Hyundai Motor Company (Symbol: KRX: 005380 / OTCMKTS: HYMTF)
- Honda Motor Co., Ltd. (Symbol: NYSE: HMC)
AI Analysis | Feedback
nullAI Analysis | Feedback
Dr. Qichao Hu, Founder, Chairman & CEO
Dr. Qichao Hu is the founder and CEO of SES AI, which was founded in 2012 as SolidEnergy Systems. He holds a Bachelor of Science in Physics from the Massachusetts Institute of Technology (MIT) and a Ph.D. in Applied Physics from Harvard University. Dr. Hu has been recognized as one of Forbes 30 Under 30 and MIT Technology Review's Innovators Under 35. He led SES AI to establish joint development agreements with major automotive companies including General Motors, Honda, and Hyundai. His background includes extensive work in clean energy and battery technology, leading to the establishment of SES AI out of an MIT lab.
Jing Nealis, Chief Financial Officer
Jing Nealis possesses 18 years of global finance and operations experience in both private and public companies. She has guided several emerging energy transition companies through successful scale-up and commercialization phases. Her prior experience includes roles at View, SunPower, Shunfeng, Suntech, and Deloitte. Ms. Nealis also serves on the Board of Directors for Invest Green Acquisition Corp. and Suniva, Inc.
Dr. Hong Gan, Chief Science Officer
Dr. Hong Gan brings 25 years of experience in battery research and development. His key contributions include advancements in silicon-based Li-ion and Li-Metal anode battery technologies, developed during his time at Brookhaven National Lab and Greatbatch Technologies.
Dr. Kang Xu, Chief Technology Officer
Dr. Kang Xu is an MRS Fellow, ECS Fellow, and emeritus ARL Fellow, recognized as one of the world's leading researchers in electrolyte materials and interfacial science. He has authored over 350 papers in this field and has an h-index of 118, receiving numerous awards for his discoveries in electrolyte materials and fundamental understanding of the field.
Kyle Pilkington, Chief Legal Officer
Kyle Pilkington has 16 years of international legal experience, encompassing capital markets, securities law, corporate governance, and mergers and acquisitions (M&A). He previously held positions at International Game Technology, Sullivan & Cromwell, Gibson Dunn, and Baker McKenzie.
AI Analysis | Feedback
The key risks for SES AI Corporation (symbol: SES) are primarily centered around the significant challenges of commercializing its advanced battery technology, its ongoing financial requirements, and the intense competitive landscape it faces.
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Commercialization and Production Scale-up
SES AI's core business relies on successfully bringing its proprietary Lithium-metal (Li-Metal) battery technology to mass production, a transition from lab success to gigawatt-hour scale that is described as a "mammoth technical and financial task" and remains unproven. A significant challenge inherent in Lithium-metal technology is the formation of dendrites, which can drastically reduce battery lifespan and cause short circuits, and while SES AI believes it has addressed this, commercial-scale proof is still pending. Any delays or defects in scaling up mass production could severely impede the company's growth.
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Financial Health and Cash Burn
As a company in its pre-commercialization phase, SES AI currently operates at a loss, exhibiting negative operating margins and free cash flow. For example, in Q3 2025, the company reported a net loss of approximately -$22.65 million and an operational loss of $23.01 million, with a cash burn rate from operations of $14.3 million in that quarter alone. Although the company maintained a solid liquidity position of $229 million as of Q2 2025, continued losses could exhaust its capital, necessitating further fundraising through potential share issuance and consequently diluting existing shareholders. The path to achieving profitability is considered a long one.
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Competition and Technology Obsolescence
SES AI operates in a highly competitive and capital-intensive industry, facing established battery giants like CATL, LG Energy Solution, and Panasonic, which possess significant scale and capital, as well as other emerging battery technology companies such as QuantumScape and Solid Power. There is also a risk that SES AI's focus on liquid Lithium-metal batteries could be outpaced by the industry's broader movement towards solid-state battery technology, which major competitors are projected to mass-produce by 2027-2028, a direction SES AI ceased researching in 2015. Recent developments also indicate a pivot by SES AI away from EV battery mass production towards energy storage systems, drones, and materials, accompanied by a projected reset in gross margins, highlighting the intense competitive pressures and the need for market adaptation.
AI Analysis | Feedback
The emergence and potential for rapid scaling of solid-state battery technology by competitors presents a clear emerging threat to SES AI's lithium-metal battery technology. Solid-state batteries, pursued by numerous companies and consortia, aim to offer similar or superior advancements in energy density and safety for electric vehicles compared to lithium-metal batteries. If solid-state technology achieves widespread commercialization and cost-effective production ahead of or more effectively than lithium-metal, it could significantly diminish the market opportunity for SES AI.
AI Analysis | Feedback
The addressable markets for SES AI's main products, high-performance Lithium-metal rechargeable batteries for electric vehicles and other applications, can be identified by examining the global Lithium-metal battery market and the broader Electric Vehicle (EV) battery market.
Global Lithium-Metal Battery Market
The global Lithium-metal battery market is projected to experience substantial growth. It is estimated to reach a value of approximately USD 6.0 billion in 2025 and is forecasted to grow to USD 25.3 billion by the end of 2031, at a Compound Annual Growth Rate (CAGR) of 24.4% from 2025 to 2031. Other projections indicate the market could grow from USD 11.53 billion in 2024 to USD 68.79 billion by 2030, with a CAGR of 21.9% from 2024 to 2030. Another report suggests the Lithium-metal battery industry could exceed USD 13 billion by 2035, with electric vehicle deployments constituting around 78% of this market. Furthermore, the market is projected to reach USD 152.26 billion by 2035, growing at a CAGR of 21.96% from 2025.
Specifically for Lithium Metal Polymer Batteries, the global market was valued at USD 45.67 billion in 2024 and is projected to reach USD 142.77 billion by 2033, with a CAGR of 13.5% between 2025 and 2033.
Global Electric Vehicle Battery Market
As a primary application for Lithium-metal batteries, the global electric vehicle battery market represents a significant addressable market for SES AI. The global EV battery market was valued at USD 76.59 billion in 2024 and is projected to reach USD 739.31 billion by 2034, expanding at a CAGR of 25.95% from 2025 to 2034. Another estimate placed the global EV battery market size at USD 61.31 billion in 2024, with a projection to reach USD 198.86 billion by 2030, growing at a CAGR of 22.2% from 2025 to 2030. The market is expected to be valued at USD 92.7 billion in 2025 and reach USD 181.8 billion by 2032, growing at a CAGR of 10.1% during this forecast period. Additionally, the EV battery market value was USD 62.5 billion in 2024 and is likely to grow to USD 112.5 billion in 2032, at a CAGR of 7.6% during 2024-2032.
AI Analysis | Feedback
Expected Drivers of Future Revenue Growth for SES AI (SES)
SES AI Corporation (NYSE: SES) anticipates several key drivers for its revenue growth over the next two to three years, primarily stemming from the strategic expansion and commercialization of its advanced battery technologies and AI-enabled platforms across multiple sectors.
- Expansion of Energy Storage Systems (ESS) Business: The acquisition of UZ Energy is a significant catalyst for SES AI's growth in the energy storage systems market. This segment is projected to be the largest near-term revenue contributor, with expectations for substantial growth by leveraging UZ Energy's existing markets and expanding into new territories, including the United States.
- Growth in the Drone Battery Market: SES AI is actively retooling its manufacturing facilities, such as the Chungju facility, to focus on drone battery production. The company expects increasing volumes and scaling operations in the drone sector to contribute meaningfully to its revenue, particularly in the latter half of the forecast period.
- Commercialization of AI-Enabled Materials via Molecular Universe Platform: The proprietary Molecular Universe AI4Science platform is central to SES AI's strategy, enabling breakthroughs in battery material discovery. The company plans to generate revenue by licensing these advanced materials and selling them to a diverse customer base across electric vehicles, drones, energy storage systems, and consumer electronics, potentially through joint ventures like the one with Hisun New Materials.
- Continued Strategic Development Contracts with Automotive OEMs: While mass production of EV batteries may be on hold for certain immediate plans, SES AI has historically generated significant, high-margin revenue from service agreements and joint development contracts with automotive Original Equipment Manufacturers (OEMs) like Honda and Hyundai for AI-enhanced Li-Metal and Li-ion battery materials and designs. The company's ongoing focus on innovative battery technology suggests the potential for new or expanded development partnerships in the evolving electric vehicle landscape.
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Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- In April 2025, SES AI Corporation's Board of Directors authorized a share repurchase program of up to $30 million of its Class A common stock.
- This authorization represented approximately 11% of the company's market capitalization at the time.
- The company's management views the share repurchase program as an "efficient capital allocation tool" that will not impact their liquidity.
Share Issuance
- SES AI consummated its initial public offering (IPO) on January 11, 2021, and its securities began trading on the NYSE.
- On February 3, 2022, Ivanhoe (a SPAC) completed its business combination with SES Holdings Pte. Ltd., after which Ivanhoe changed its name to SES AI Corporation.
Inbound Investments
- In May 2021, a strategic partner made a $2 million equity investment in SES AI.
- Another strategic partner committed $2 million in PIPE (Private Investment in Public Equity) financing in June 2021.
- A major global car manufacturer was the largest single investor in PIPE financing, contributing $3 million in January 2022.
Outbound Investments
- SES AI completed the acquisition of UZ Energy for $25.8 million in fiscal year 2025, aimed at accelerating its entry into the Energy Storage System (ESS) market.
Capital Expenditures
- Capital expenditures were $1.7 million for the six months ended June 30, 2025, and $10.5 million for the six months ended June 30, 2024.
- These expenditures primarily focused on the purchase of lab machinery and equipment, and lab tools and instruments to build out production lines and facilities.
- For 2026, capital expenditures are projected to remain in the "single-digit millions," reflecting a "CapEx-light business model."
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 7.29 |
| Mkt Cap | 1.6 |
| Rev LTM | 22 |
| Op Inc LTM | -103 |
| FCF LTM | -76 |
| FCF 3Y Avg | -82 |
| CFO LTM | -66 |
| CFO 3Y Avg | -65 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 106.1% |
| Rev Chg 3Y Avg | 87.7% |
| Rev Chg Q | 15.9% |
| QoQ Delta Rev Chg LTM | 4.7% |
| Op Inc Chg LTM | 11.8% |
| Op Inc Chg 3Y Avg | -5.2% |
| Op Mgn LTM | -454.7% |
| Op Mgn 3Y Avg | -571.6% |
| QoQ Delta Op Mgn LTM | 3.4% |
| CFO/Rev LTM | -275.9% |
| CFO/Rev 3Y Avg | -368.2% |
| FCF/Rev LTM | -309.8% |
| FCF/Rev 3Y Avg | -463.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.6 |
| P/S | 35.8 |
| P/Op Inc | -8.9 |
| P/EBIT | -11.6 |
| P/E | -10.1 |
| P/CFO | -16.5 |
| Total Yield | -9.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -12.1% |
| D/E | 0.0 |
| Net D/E | -0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.7% |
| 3M Rtn | -1.8% |
| 6M Rtn | -40.8% |
| 12M Rtn | 100.9% |
| 3Y Rtn | 49.1% |
| 1M Excs Rtn | -8.9% |
| 3M Excs Rtn | -9.1% |
| 6M Excs Rtn | -55.8% |
| 12M Excs Rtn | 75.0% |
| 3Y Excs Rtn | -44.4% |
Price Behavior
| Market Price | $1.03 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 03/01/2021 | |
| Distance from 52W High | -70.9% | |
| 50 Days | 200 Days | |
| DMA Price | $1.09 | $1.68 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -5.2% | -38.6% |
| 3M | 1YR | |
| Volatility | 102.6% | 108.1% |
| Downside Capture | 495.18 | 342.87 |
| Upside Capture | 141.75 | 261.83 |
| Correlation (SPY) | 36.7% | 34.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.71 | 2.80 | 3.20 | 3.20 | 2.87 | 1.82 |
| Up Beta | 2.86 | 2.71 | 3.48 | 1.92 | 2.41 | 1.54 |
| Down Beta | 11.34 | 1.55 | 1.93 | 3.19 | 3.78 | 1.22 |
| Up Capture | 154% | 181% | 204% | 383% | 513% | 1402% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 11 | 18 | 26 | 54 | 115 | 333 |
| Down Capture | 376% | 405% | 368% | 270% | 191% | 113% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 11 | 22 | 32 | 63 | 121 | 385 |
[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 SES | |
|---|---|---|---|---|
| SES | 18.6% | 108.0% | 0.67 | - |
| Sector ETF (XLY) | 12.7% | 18.1% | 0.52 | 24.8% |
| Equity (SPY) | 28.9% | 12.0% | 1.82 | 34.1% |
| Gold (GLD) | 44.6% | 26.8% | 1.35 | 22.5% |
| Commodities (DBC) | 47.8% | 18.6% | 1.96 | 6.6% |
| Real Estate (VNQ) | 11.3% | 13.5% | 0.55 | 11.4% |
| Bitcoin (BTCUSD) | -21.3% | 41.7% | -0.46 | 30.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SES | |
|---|---|---|---|---|
| SES | -34.6% | 113.9% | 0.11 | - |
| Sector ETF (XLY) | 7.0% | 23.8% | 0.26 | 23.0% |
| Equity (SPY) | 13.7% | 17.1% | 0.63 | 22.9% |
| Gold (GLD) | 20.4% | 17.9% | 0.93 | 10.0% |
| Commodities (DBC) | 11.1% | 19.4% | 0.46 | 5.4% |
| Real Estate (VNQ) | 3.6% | 18.8% | 0.09 | 18.9% |
| Bitcoin (BTCUSD) | 7.5% | 55.9% | 0.35 | 11.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SES | |
|---|---|---|---|---|
| SES | -19.7% | 111.8% | 0.10 | - |
| Sector ETF (XLY) | 12.8% | 22.0% | 0.53 | 22.8% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 22.7% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 9.9% |
| Commodities (DBC) | 8.3% | 17.9% | 0.38 | 5.4% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 18.7% |
| Bitcoin (BTCUSD) | 68.2% | 66.9% | 1.07 | 11.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/4/2026 | -36.8% | -24.6% | -41.8% |
| 11/5/2025 | -1.8% | -0.4% | -5.8% |
| 7/28/2025 | 15.3% | 2.5% | -1.7% |
| 4/24/2025 | 18.5% | 3.6% | 9.5% |
| 1/31/2025 | 12.4% | 24.8% | -45.4% |
| 10/31/2024 | -4.6% | -19.2% | -20.9% |
| 7/29/2024 | -9.2% | -23.6% | -18.5% |
| 2/26/2024 | 14.1% | 14.8% | 5.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 4 |
| # Negative | 6 | 7 | 10 |
| Median Positive | 13.6% | 13.2% | 7.4% |
| Median Negative | -3.9% | -19.2% | -20.0% |
| Max Positive | 18.5% | 35.3% | 20.6% |
| Max Negative | -36.8% | -24.6% | -45.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/24/2026 | 10-Q |
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Pilkington, Kyle | CHIEF LEGAL OFFICER | Direct | Sell | 3112026 | 1.20 | 25,000 | 30,000 | 936,244 | Form |
| 2 | Gan, Hong | CHIEF SCIENCE OFFICER | Direct | Sell | 1232026 | 2.50 | 100,000 | 250,320 | 3,137,226 | Form |
| 3 | Gan, Hong | CHIEF SCIENCE OFFICER | Direct | Sell | 1232026 | 2.50 | 150,000 | 374,385 | 3,128,077 | Form |
| 4 | Gan, Hong | CHIEF SCIENCE OFFICER | Direct | Sell | 12162025 | 1.98 | 100,000 | 197,890 | 2,480,128 | Form |
| 5 | Gan, Hong | CHIEF SCIENCE OFFICER | Direct | Sell | 11182025 | 1.90 | 150,000 | 285,225 | 2,383,123 | Form |
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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