Added to YB: 2026-05-26
Pitch date: 2026-05-22
NFE [neutral]
New Fortress Energy Inc.
Author Info
Alt Capital writes about public equities and credit with a focus on special situations: restructurings, M&A, spinoffs, governance changes, stockholder activism. Primarily small/micro caps. Background in corporate restructuring (~10 years). Based in NYC. Sign up for the newsletter.
Company Info
New Fortress Energy Inc. operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide.
Market Cap
$181.1M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
329.46
P/E
-0.09
EV/Sales
6.98
Sector
Oil, Gas and Consumable Fuels
Category
special_situation
New Fortress Energy: Quick Take on NFE Equity
NFE (overview): RSA splits co into BrazilCo (creditors get 100% equity) & New NFE (creditors 65%, existing equity 35%). New NFE keeps PR/Mexico/Nicaragua terminals, FLNG1, plus FLNG2 & turbines. Trading $0.60/share = ~$550M mkt cap, $4B EV, 10x mgmt's $410M 2027E EBITDA. A&M valuation report suggests 7.5-8.5x multiple, $3.3B EV (equity out-of-money). Not attractive vs peers trading 5-8x; mgmt targets ambitious given 2026 EBITDA ~$100M. $2.5B new pref matures 3yr, converts to 87% equity if unpaid—refinancing key. Downside likely post-reorg when dilution realized & shares reverse-split above $1.
Read full article (5 min)