Forensic Analysis · Automotive / Vehicle Manufacturing · as of Jul 25, 2026
Faraday Future Intelligent Electric Inc. (FFAI)
A forensic read on Faraday Future Intelligent Electric Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
-55.9
Altman Z-score
Clean
Earnings quality
5
Forensic signals
$2.4B
Market cap
-0.6%
Revenue growth
Faraday Future Intelligent Electric Inc. earns a F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is -55.9, placing it in the Distress zone. 5 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
88d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 0 to 88 days FY2024→FY2025. Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections.
stopped
FY2022→FY2023
Shareholder returns — halted.Capital returns have STOPPED — $767,000 of buybacks + dividends in FY2022, but ~$0 in FY2023. A halt usually means the company is conserving cash; understand why before reading it as neutral.
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from positive to negative FY2024→FY2025 (FY2024 $+107.8M to FY2025 $-27.2M) — the standard accruals ratio divides by the average of the two, which collapses toward zero right as the sign changes, so the resulting percentage is a denominator artifact, not a real accrual measurement. Treat this as a structural balance-sheet shift to understand on its own terms rather than a clean or dirty accruals read.
588% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 588% of revenue in FY2025. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
$4M
FY2025–FY2025
Goodwill impairments.Took $4M of goodwill writedowns across 1 year (FY2025 ($4M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Latest Revenue$536,000.00
Revenue Growth YoY-0.6%
Net Margin-72891.0%
Free Cash Flow$-125.0M
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Faraday Future Intelligent Electric Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about FFAI's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown