Tearsheet

Factorial Energy (FAC)


Market Price (7/2/2026): $11.22 | Market Cap: $1.2 BilSector: Industrials | Industry: Electrical Components & Equipment

Factorial Energy (FAC)


Market Price (7/2/2026): $11.22
Market Cap: $1.2 Bil
Sector: Industrials
Industry: Electrical Components & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends 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 significantly
6M Rtn6 month market price return is 162%, 12M Rtn12 month market price return is 240%

High stock price volatility
Vol 12M is 227%

Key risks
FAC 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.

0 Megatrend and thematic drivers
Megatrends include Battery Technology & Metals, Renewable Energy Transition, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, Show more.
1 Stock price has recently run up significantly
6M Rtn6 month market price return is 162%, 12M Rtn12 month market price return is 240%
2 High stock price volatility
Vol 12M is 227%
3 Key risks
FAC 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.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/1/2026

Factorial Energy (FAC) stock has gained about 155% since 3/31/2026 because of the following key factors:

1. Successful Nasdaq Listing and Capital Infusion in Q2 2026.

Factorial Energy completed its SPAC merger with Cartesian Growth Corporation III and began trading on Nasdaq under the ticker FAC on June 8, 2026. This transaction valued the combined company at approximately $1.3 billion and generated over $100 million in gross proceeds, providing significant capital to accelerate the commercialization of its solid-state battery technology across various sectors. The initial market reaction was strongly positive, with reports of a +1492.59% surge on its first trading day.

2. Validation through Strategic Automotive and Defense Partnerships.

In Q2 2026, Factorial Energy continued to solidify its market position through key partnerships and real-world testing. The company, backed by major automotive players including Mercedes-Benz, Stellantis, Hyundai, and Kia, demonstrated the efficacy of its FEST® cells, notably in a Mercedes-Benz test vehicle that achieved a 1,205 km range on a single charge. Further validation came with the integration of Factorial's solid-state battery technology into a Stellantis development vehicle, commencing road tests in North America, and a strategic investment from In-Q-Tel, the U.S. national security community's investment arm, to support expansion into defense and robotics applications.

Show more
Updated on 7/1/2026

Factorial Energy (FAC) stock has gained about 155% since 3/31/2026 because of the following key factors:

1. Successful Nasdaq Listing and Capital Infusion in Q2 2026.

Factorial Energy completed its SPAC merger with Cartesian Growth Corporation III and began trading on Nasdaq under the ticker FAC on June 8, 2026. This transaction valued the combined company at approximately $1.3 billion and generated over $100 million in gross proceeds, providing significant capital to accelerate the commercialization of its solid-state battery technology across various sectors. The initial market reaction was strongly positive, with reports of a +1492.59% surge on its first trading day.

2. Validation through Strategic Automotive and Defense Partnerships.

In Q2 2026, Factorial Energy continued to solidify its market position through key partnerships and real-world testing. The company, backed by major automotive players including Mercedes-Benz, Stellantis, Hyundai, and Kia, demonstrated the efficacy of its FEST® cells, notably in a Mercedes-Benz test vehicle that achieved a 1,205 km range on a single charge. Further validation came with the integration of Factorial's solid-state battery technology into a Stellantis development vehicle, commencing road tests in North America, and a strategic investment from In-Q-Tel, the U.S. national security community's investment arm, to support expansion into defense and robotics applications.

3. Favorable Momentum in the Solid-State Battery Market.

The broader solid-state battery market experienced significant positive momentum in Q2 2026, contributing to investor optimism for Factorial Energy. The global solid-state battery market is projected to grow substantially from USD 1.20 billion in 2025 to USD 30.50 billion by 2035, exhibiting a compound annual growth rate (CAGR) of 38.2%. This industry-wide enthusiasm, driven by the promise of higher energy density, enhanced safety features, and faster charging capabilities compared to conventional lithium-ion batteries, created a highly supportive environment for Factorial Energy as a leading innovator in this emerging sector.

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Stock Movement Drivers

Fundamental Drivers

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Market Drivers

3/31/2026 to 7/1/2026
ReturnCorrelation
FAC153.6% 
Market (SPY)14.7%-46.8%
Sector (XLI)13.4%-57.3%

Fundamental Drivers

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Market Drivers

12/31/2025 to 7/1/2026
ReturnCorrelation
FAC161.6% 
Market (SPY)9.7%-1.3%
Sector (XLI)18.5%-11.5%

Fundamental Drivers

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Market Drivers

6/30/2025 to 7/1/2026
ReturnCorrelation
FAC240.4% 
Market (SPY)21.7%1.8%
Sector (XLI)25.6%-6.2%

Fundamental Drivers

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Market Drivers

6/30/2023 to 7/1/2026
ReturnCorrelation
FAC970.9% 
Market (SPY)74.2%1.9%
Sector (XLI)78.0%-2.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FAC Return80%-66%185%43%39%163%826%
Peers Return-31%-59%-24%-6%97%-9%-63%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
FAC Win Rate75%8%58%50%83%50% 
Peers Win Rate37%38%46%33%50%42% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
FAC Max Drawdown-23%-66%-32%-28%-19%-55% 
Peers Max Drawdown-77%-75%-66%-69%-60%-53% 
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 7/1/2026 (YTD)

How Low Can It Go

EventFACS&P 500
2024 Yen Carry Trade Unwind
  % Loss-10.2%-7.8%
  % Gain to Breakeven11.3%8.5%
  Time to Breakeven458 days18 days
2022 Inflation Shock & Fed Tightening
  % Loss-36.6%-24.5%
  % Gain to Breakeven57.7%32.4%
  Time to Breakeven413 days427 days
2020 COVID-19 Crash
  % Loss-15.9%-33.7%
  % Gain to Breakeven18.9%50.9%
  Time to Breakeven1 days140 days

Compare to QS, SLDP, AMPX, SES

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.

EventFACS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-36.6%-24.5%
  % Gain to Breakeven57.7%32.4%
  Time to Breakeven413 days427 days

Compare to QS, SLDP, AMPX, SES

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)

First Acceptance Corporation, through its subsidiaries, operates as a retailer, servicer, and underwriter of non-standard personal automobile insurance and other ancillary products in the United States. The company operates through two segments, Insurance, and Real Estate and Corporate. It issues automobile insurance policies to individuals who are categorized as non-standard based primarily on their inability or unwillingness to obtain insurance coverage from standard carriers due to various factors, including their payment history or need for monthly payment plans, failure to maintain continuous insurance coverage, or driving record. The company also offers optional products that provide ancillary reimbursements and benefits in the event of an automobile accident, such as products that offer reimbursements for medical expenses and hospital stays as a result of injuries sustained in an automobile accident, automobile towing and rental, and ambulance services; and underwrites a tenant homeowner policy that provides contents and liability coverage to customers who are renters. In addition, it engages in the disposition of real estate held for sale. The company markets its products under the Acceptance Insurance brand name. It primarily distributes its products through its retail locations, as well as through call center and Internet. As of December 31, 2016, the company leased and operated 355 retail locations a call center. First Acceptance Corporation was founded in 1969 and is based in Nashville, Tennessee.

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.

AI Analysis | Feedback

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AI Analysis | Feedback

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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:

  1. 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.
  2. 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.
  3. 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

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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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.

AI Analysis | Feedback

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

FACQSSLDPAMPXSESMedian
NameFactoria.QuantumS.Solid Po.Amprius .SES AI  
Mkt Price11.037.612.5913.590.967.61
Mkt Cap1.24.60.61.90.31.2
Rev LTM-015892218
Op Inc LTM--458-103-20-77-90
FCF LTM--282-76-59-58-67
FCF 3Y Avg--306-82-50-70-76
CFO LTM--241-66-54-55-61
CFO 3Y Avg--251-65-40-62-63

Growth & Margins

FACQSSLDPAMPXSESMedian
NameFactoria.QuantumS.Solid Po.Amprius .SES AI  
Rev Chg LTM---22.9%174.2%179.8%174.2%
Rev Chg 3Y Avg--7.3%232.1%-119.7%
Rev Chg Q---58.9%152.9%15.8%15.8%
QoQ Delta Rev Chg LTM---16.9%24.0%4.4%4.4%
Op Inc Chg LTM-11.4%0.4%53.6%30.6%21.0%
Op Inc Chg 3Y Avg--1.9%-15.4%-5.2%-2.4%-3.8%
Op Mgn LTM---692.6%-22.5%-352.3%-352.3%
Op Mgn 3Y Avg---571.6%-177.0%--374.3%
QoQ Delta Op Mgn LTM---129.7%9.5%41.1%9.5%
CFO/Rev LTM---442.2%-60.9%-252.4%-252.4%
CFO/Rev 3Y Avg---368.2%-151.0%--259.6%
FCF/Rev LTM---508.8%-65.9%-262.8%-262.8%
FCF/Rev 3Y Avg---463.3%-221.4%--342.3%

Valuation

FACQSSLDPAMPXSESMedian
NameFactoria.QuantumS.Solid Po.Amprius .SES AI  
Mkt Cap1.24.60.61.90.31.2
P/S--37.820.914.620.9
P/Op Inc--10.1-5.5-92.9-4.1-7.8
P/EBIT--11.1-6.2-92.9-4.1-8.7
P/E--11.0-6.2-46.9-4.4-8.6
P/CFO--19.3-8.5-34.3-5.8-13.9
Total Yield--9.1%-16.2%-2.1%-22.8%-12.6%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg--10.5%-25.9%-12.1%-26.9%-19.0%
D/E0.00.00.00.00.00.0
Net D/E0.0-0.2-0.4-0.0-0.5-0.2

Returns

FACQSSLDPAMPXSESMedian
NameFactoria.QuantumS.Solid Po.Amprius .SES AI  
1M Rtn153.6%-16.7%-24.0%-37.5%-28.1%-24.0%
3M Rtn153.6%22.5%-11.9%-12.4%0.6%0.6%
6M Rtn161.6%-27.0%-39.1%72.2%-46.9%-27.0%
12M Rtn240.4%19.7%17.7%247.6%11.2%19.7%
3Y Rtn970.9%-4.8%2.0%89.3%-60.8%2.0%
1M Excs Rtn155.1%-15.2%-22.5%-36.0%-26.6%-22.5%
3M Excs Rtn138.9%4.7%-28.3%-34.0%-15.2%-15.2%
6M Excs Rtn141.2%-36.6%-49.1%63.2%-58.3%-36.6%
12M Excs Rtn219.8%-7.4%-2.3%202.2%-12.9%-2.3%
3Y Excs Rtn1,066.5%-58.3%-55.7%6.4%-129.6%-55.7%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024
Single Segment00
Total00


Operating Income by Segment
$ Mil20252024
Single Segment-64-57
Total-64-57


Net Income by Segment
$ Mil20252024
Single Segment-74-54
Total-74-54


Price Behavior

Price Behavior
Market Price$11.03 
Market Cap ($ Bil)1.2 
First Trading Date04/09/2018 
Distance from 52W High-49.7% 
   50 Days200 Days
DMA Price$7.17$7.19
DMA Trendupup
Distance from DMA53.7%53.4%
 3M1YR
Volatility219.7%271.8%
Downside Capture-359.3668.09
Upside Capture-595.09218.47
Correlation (SPY)-5.8%1.4%
FAC Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta-1.80-2.32-2.12-0.420.220.15
Up Beta-33.39-21.49-8.87-6.01-3.01-0.44
Down Beta-4.19-3.86-3.77-1.35-0.820.00
Up Capture1177%579%282%237%297%74%
Bmk +ve Days11244067140429
Stock +ve Days8883073243
Down Capture-286%-225%-198%-15%64%8%
Bmk -ve Days10172358112321
Stock -ve Days8883082260

[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
FAC17.5%84.6%0.66-
Sector ETF (XLI)25.7%16.5%1.21-12.8%
Equity (SPY)21.8%12.5%1.30-0.6%
Gold (GLD)21.7%27.7%0.69-8.3%
Commodities (DBC)21.4%18.6%0.904.0%
Real Estate (VNQ)13.0%13.7%0.657.8%
Bitcoin (BTCUSD)-45.0%42.6%-1.288.1%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FAC
FAC68.0%78.6%1.50-
Sector ETF (XLI)14.3%17.6%0.64-1.3%
Equity (SPY)13.5%17.1%0.610.1%
Gold (GLD)17.4%18.3%0.77-5.7%
Commodities (DBC)6.8%19.5%0.25-2.1%
Real Estate (VNQ)2.8%18.8%0.053.3%
Bitcoin (BTCUSD)11.9%53.7%0.413.2%

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 FAC
FAC40.1%82.5%1.11-
Sector ETF (XLI)14.5%20.1%0.643.5%
Equity (SPY)15.4%18.0%0.732.9%
Gold (GLD)11.9%16.1%0.60-1.1%
Commodities (DBC)5.6%18.0%0.240.5%
Real Estate (VNQ)5.4%20.7%0.224.8%
Bitcoin (BTCUSD)56.6%66.3%0.974.6%

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Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity0.2 Mil
Short Interest: % Change Since 5312026701.4%
Average Daily Volume0.9 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity107.0 Mil
Short % of Basic Shares0.2%

Earnings Returns History

Updated 6/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202606/11/2026POS AM
12/31/202503/27/2026S-4
Collapse to Preview
Report DateFiling DateFiling
03/31/202606/11/2026POS AM
12/31/202503/27/2026S-4
Core Cache Last Updated: 7/1/2026