Surf Air Mobility Inc.

Surf Air Mobility Inc.

SRFM·NYSE

$1.09

-2.2%
IndustrialsAirlines, Airports & Air Services

Surf Air Mobility Inc. operates as an electric aviation and air travel company in the United States. It offers an air mobility platform with scheduled routes and on demand charter flights operated by third parties; and air cargo services. The company is headquartered in Hawthorne, California.

At a Glance

Live Snapshot
Market Cap$109.43M
EPS-5.2900
P/E Ratio-0.21
Earnings Date08/11/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

Medium confidence

Valuation multiple is compressed (P/E -0.2).

Valuation inputs: P/E -0.2, earnings yield N/A, momentum -2.2%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +2.0%, ROIC -1.6%).

Profitability stack: net margin -1.0%, ROE +2.0%, ROIC -1.6%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile is elevated and scenario stress-testing is essential.

Risk factors: liabilities/assets +141.7%, momentum -2.2%, net margin -1.0%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

srfm

Surf Air Mobility Inc. Market vs Earnings Trajectory

SRFM · NYSE
Current Price
$1.09
EPS (TTM)
$-5.37

Performance Analysis

EPS Growth

-63.0%

Declining earnings warrant investigation into business challenges and competitive position.

Price-EPS Relationship

Aligned

Both price and earnings are declining together, reflecting deteriorating business fundamentals.

Stock Price Change

-55.3%

Over the 1Y period, stock price has decreased by 55.3%.

P/E Ratio (TTM)

-0.2x

Relatively low P/E may indicate undervaluation or lower growth expectations.

Surf Air Mobility Inc.

Surf Air Mobility Inc. Fair Value Envelope

SRFM · NYSE

Our analysis suggests that SRFM has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $1.09, this represents a potential HIDDEN relative to our calculated worth for Surf Air Mobility Inc..

Intrinsic Value
Current Price: $1.09
3Y-29.0%
5Y+125.0%
10Y+125.0%
3Y+426.0%
5Y+1321.0%
10Y+1321.0%
3Y+49.0%
5Y+372.0%
10Y+372.0%
3Y+129.0%
5Y+635.0%
10Y+635.0%
3Y+158.0%
5Y+703.0%
10Y+703.0%
3Y+861.0%
5Y+1025.0%
10Y+1025.0%
Surf Air Mobility Inc.

Surf Air Mobility Inc. Profit Bridge

SRFM · NYSE
Revenue106.56M
Cost of Goods Sold (102.38M)
Gross Profit4.18M
Operating Expenses (81.06M)
Operating Income-76.87M
Interest Expense (13.21M)
Other Income/Expense-34.06M
Pretax Income-110.94M
Income Tax (-380.00K)
Net Income-110.56M
Net Income
-110.56M

Profitability Analysis

Gross Margin

3.9%

Thin margins leave little room for error. Cost management and pricing strategy are critical.

Operating Margin

-72.1%

Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.

Net Profit Margin

-103.8%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.

3.92%
Gross Profit Margin
-51%
3Y-114.0%
5Y-108.0%
10Y-108.0%
-72.14%
Operating Profit Margin
43%
3Y-71.0%
5Y-74.0%
10Y-74.0%
-103.75%
Net Profit Margin
65%
3Y-72.0%
5Y-67.0%
10Y-67.0%
201.53%
Return on Equity
223%
3Y+502.0%
5Y+1117.0%
10Y+1117.0%
-83.96%
Return on Assets
39%
3Y-85.0%
5Y-58.0%
10Y-58.0%
-163.11%
Return on Invested Capital
28%
3Y-186.0%
5Y-193.0%
10Y-193.0%
SRFM

Surf Air Mobility Inc. Cash Conversion Engine

SRFM · NYSE
Net Income-110.56M
Depreciation & Amortization9.29M
Stock-Based Compensation10.06M
Change in Working Capital1.57M
Others25.85M
Capital Expenditures-8.39M
Free Cash Flow-72.55M

Cash Flow Quality Analysis

FCF Conversion Rate

65.6%

Moderate conversion rate. Some gap between earnings and cash flow may warrant investigation into working capital or non-cash items.

CapEx Intensity

-13.1%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-6.0%

Declining FCF warrants attention. Investigate whether due to temporary factors or fundamental deterioration.

Working Capital Impact

+$1.57M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

srfm

Surf Air Mobility Inc. Funding & Solvency Profile

SRFM · NYSE
Cash & Cash Equivalents4.16M
Net Receivables3.71M
Inventory0.00
Other Current Assets638.00K
Total Current Assets21 M
Property, Plant & Equipment59.49M
Goodwill & Intangible Assets19.33M
Long-Term Investments10.16M
Other Non-Current Assets10.80M
Total Non-Current Assets80 M
Total Assets
120.83M

Financial Health Analysis

Current Ratio

0.16x

Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.

Working Capital

-111867999

Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.

Asset Composition

17% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

srfm

Surf Air Mobility Inc. Street Expectations Map

SRFM · NYSE

Wall Street analysts project that SRFM stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 2.13, with estimates ranging from a low of 1.50 to a high of 2.75.

Lowest Target
1.50
37.61%
Consensus Target
2.13
95.41%
Highest Target
2.75
152.29%

The consensus 1-year price target stands at 2.13, with estimates ranging from a low of 1.50 to a high of 2.75.

Analyst Consensus Analysis

Upside Potential

+95.4%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

58.7% spread

Mixed analyst views. Wide target range suggests differing opinions on key value drivers, growth prospects, or risk factors.

Analyst Conviction

Low

Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.

Market Sentiment Insight

High risk, high reward: Substantial upside potential exists, but wide analyst disagreement signals execution risk or unclear catalysts. Thorough due diligence essential before committing capital.

srfm

Surf Air Mobility Inc. Insider Positioning

SRFM · NYSE

During the last 12 months, insiders have purchased $2.15M and sold $378K worth of SRFM shares, resulting in $1.78M of net buying activity.

3 Months

Bought

0

0.00

Sold

147.3K

193.51K

Net Activity

-194K

-$194K

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

1.0M

2.15M

Sold

40.6K

184.34K

Net Activity

+2.0M

+$1.97M

Top Buyers

1
PTI

Palantir Technologies Inc.

10 Percent Owner

1.0M shares1 transactions

$2.15M

Top Sellers

1
PT

Painter Tyler

Director

40.6K shares2 transactions

$184K

2
RO

Reeves Oliver

Officer: Chief Financial Officer

76.6K shares1 transactions

$101K

3
WDL

White Deanna Leigh

Officer: Chief Executive Officer

70.7K shares2 transactions

$93K

Insider Activity Analysis

Net Insider Sentiment

Bullish

Strong bullish signal with $1.78M net buying. Insiders are aggressively accumulating shares, suggesting significant confidence in future prospects.

Buy/Sell Ratio

5.70:1

Exceptional buy/sell ratio. Buying dramatically outweighs selling—one of the strongest possible insider signals.

Recent Trend (3 Months)

$194K

Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.

Insider Participation

High Selling

3 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.

No Dividend Yield Data

SRFM has not reported any dividend yield values in the available annual periods.

 

srfm Dividend History

SRFM
10Y CAGR +0%
Latest $0
Annual $0
Stable dividend payments
Last Period: +0%