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ASPEN AEROGELS INC (ASPN) Stock Fundamental Analysis

USA - NYSE:ASPN - US04523Y1055 - Common Stock

6.715 USD
-0.08 (-1.25%)
Last: 9/12/2025, 11:53:01 AM
Fundamental Rating

3

Overall ASPN gets a fundamental rating of 3 out of 10. We evaluated ASPN against 83 industry peers in the Chemicals industry. The financial health of ASPN is average, but there are quite some concerns on its profitability. ASPN is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

ASPN had positive earnings in the past year.
In the past year ASPN had a positive cash flow from operations.
In the past 5 years ASPN reported 4 times negative net income.
In the past 5 years ASPN reported 4 times negative operating cash flow.
ASPN Yearly Net Income VS EBIT VS OCF VS FCFASPN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100M -200M

1.2 Ratios

ASPN's Return On Assets of -59.40% is on the low side compared to the rest of the industry. ASPN is outperformed by 92.77% of its industry peers.
With a Return On Equity value of -101.02%, ASPN is not doing good in the industry: 85.54% of the companies in the same industry are doing better.
Looking at the Return On Invested Capital, with a value of 6.09%, ASPN is in the better half of the industry, outperforming 67.47% of the companies in the same industry.
Industry RankSector Rank
ROA -59.4%
ROE -101.02%
ROIC 6.09%
ROA(3y)-5.96%
ROA(5y)-12.11%
ROE(3y)-8.57%
ROE(5y)-17.34%
ROIC(3y)N/A
ROIC(5y)N/A
ASPN Yearly ROA, ROE, ROICASPN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -10 -20 -30 -40

1.3 Margins

The Operating Margin of ASPN (7.73%) is comparable to the rest of the industry.
ASPN has a better Gross Margin (36.33%) than 77.11% of its industry peers.
ASPN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 7.73%
PM (TTM) N/A
GM 36.33%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y70.57%
GM growth 5Y16.45%
ASPN Yearly Profit, Operating, Gross MarginsASPN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40

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4

2. Health

2.1 Basic Checks

ASPN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
ASPN has more shares outstanding than it did 1 year ago.
ASPN has more shares outstanding than it did 5 years ago.
The debt/assets ratio for ASPN is higher compared to a year ago.
ASPN Yearly Shares OutstandingASPN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
ASPN Yearly Total Debt VS Total AssetsASPN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

2.2 Solvency

Based on the Altman-Z score of 0.45, we must say that ASPN is in the distress zone and has some risk of bankruptcy.
ASPN has a worse Altman-Z score (0.45) than 84.34% of its industry peers.
A Debt/Equity ratio of 0.38 indicates that ASPN is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.38, ASPN is in the better half of the industry, outperforming 73.49% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF N/A
Altman-Z 0.45
ROIC/WACC0.68
WACC8.96%
ASPN Yearly LT Debt VS Equity VS FCFASPN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M

2.3 Liquidity

A Current Ratio of 3.98 indicates that ASPN has no problem at all paying its short term obligations.
ASPN's Current ratio of 3.98 is amongst the best of the industry. ASPN outperforms 87.95% of its industry peers.
A Quick Ratio of 3.31 indicates that ASPN has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 3.31, ASPN belongs to the top of the industry, outperforming 92.77% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.98
Quick Ratio 3.31
ASPN Yearly Current Assets VS Current LiabilitesASPN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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6

3. Growth

3.1 Past

ASPN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 1700.00%, which is quite impressive.
Looking at the last year, ASPN shows a quite strong growth in Revenue. The Revenue has grown by 11.18% in the last year.
ASPN shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 26.56% yearly.
EPS 1Y (TTM)1700%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-152.38%
Revenue 1Y (TTM)11.18%
Revenue growth 3Y54.99%
Revenue growth 5Y26.56%
Sales Q2Q%-33.75%

3.2 Future

ASPN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 41.38% yearly.
ASPN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.96% yearly.
EPS Next Y-846.69%
EPS Next 2Y-69.59%
EPS Next 3Y2.15%
EPS Next 5Y41.38%
Revenue Next Year-32.59%
Revenue Next 2Y-14.45%
Revenue Next 3Y0.58%
Revenue Next 5Y9.96%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ASPN Yearly Revenue VS EstimatesASPN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1B 2B 3B 4B 5B
ASPN Yearly EPS VS EstimatesASPN Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 2 -2 4 -4

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0

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 41.97, ASPN can be considered very expensive at the moment.
Based on the Price/Earnings ratio, ASPN is valued a bit more expensive than 61.45% of the companies in the same industry.
ASPN's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.43.
Based on the Price/Forward Earnings ratio of 139.65, the valuation of ASPN can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ASPN indicates a slightly more expensive valuation: ASPN is more expensive than 69.88% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of ASPN to the average of the S&P500 Index (22.87), we can say ASPN is valued expensively.
Industry RankSector Rank
PE 41.97
Fwd PE 139.65
ASPN Price Earnings VS Forward Price EarningsASPN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

ASPN's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 10.19
ASPN Per share dataASPN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-69.59%
EPS Next 3Y2.15%

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0

5. Dividend

5.1 Amount

No dividends for ASPN!.
Industry RankSector Rank
Dividend Yield N/A

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ASPEN AEROGELS INC

NYSE:ASPN (9/12/2025, 11:53:01 AM)

6.715

-0.08 (-1.25%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)08-07 2025-08-07/bmo
Earnings (Next)11-04 2025-11-04/amc
Inst Owners76.26%
Inst Owner Change-0.46%
Ins Owners1.16%
Ins Owner Change0.19%
Market Cap553.05M
Analysts75.71
Price Target9.77 (45.5%)
Short Float %13.35%
Short Ratio4.26
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.34%
Min EPS beat(2)-25.4%
Max EPS beat(2)16.72%
EPS beat(4)3
Avg EPS beat(4)98.13%
Min EPS beat(4)-25.4%
Max EPS beat(4)343.94%
EPS beat(8)7
Avg EPS beat(8)115.79%
EPS beat(12)10
Avg EPS beat(12)84.36%
EPS beat(16)10
Avg EPS beat(16)54.19%
Revenue beat(2)1
Avg Revenue beat(2)-0.63%
Min Revenue beat(2)-6.73%
Max Revenue beat(2)5.47%
Revenue beat(4)2
Avg Revenue beat(4)0.96%
Min Revenue beat(4)-6.73%
Max Revenue beat(4)5.47%
Revenue beat(8)6
Avg Revenue beat(8)7.28%
Revenue beat(12)7
Avg Revenue beat(12)2.31%
Revenue beat(16)10
Avg Revenue beat(16)3.56%
PT rev (1m)-22.89%
PT rev (3m)-22.89%
EPS NQ rev (1m)60.52%
EPS NQ rev (3m)-148.84%
EPS NY rev (1m)-16.77%
EPS NY rev (3m)-869.53%
Revenue NQ rev (1m)5.15%
Revenue NQ rev (3m)-29.89%
Revenue NY rev (1m)2.38%
Revenue NY rev (3m)2.38%
Valuation
Industry RankSector Rank
PE 41.97
Fwd PE 139.65
P/S 1.39
P/FCF N/A
P/OCF 9.51
P/B 1.79
P/tB 1.79
EV/EBITDA 10.19
EPS(TTM)0.16
EY2.38%
EPS(NY)0.05
Fwd EY0.72%
FCF(TTM)-0.04
FCFYN/A
OCF(TTM)0.71
OCFY10.52%
SpS4.82
BVpS3.75
TBVpS3.75
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -59.4%
ROE -101.02%
ROCE 6.87%
ROIC 6.09%
ROICexc 9.74%
ROICexgc 9.74%
OM 7.73%
PM (TTM) N/A
GM 36.33%
FCFM N/A
ROA(3y)-5.96%
ROA(5y)-12.11%
ROE(3y)-8.57%
ROE(5y)-17.34%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y70.57%
GM growth 5Y16.45%
F-Score4
Asset Turnover0.76
Health
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF N/A
Debt/EBITDA 2.2
Cap/Depr 275.05%
Cap/Sales 15.47%
Interest Coverage 2.27
Cash Conversion 109.6%
Profit Quality N/A
Current Ratio 3.98
Quick Ratio 3.31
Altman-Z 0.45
F-Score4
WACC8.96%
ROIC/WACC0.68
Cap/Depr(3y)1152.87%
Cap/Depr(5y)727.63%
Cap/Sales(3y)63.74%
Cap/Sales(5y)41.19%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1700%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-152.38%
EPS Next Y-846.69%
EPS Next 2Y-69.59%
EPS Next 3Y2.15%
EPS Next 5Y41.38%
Revenue 1Y (TTM)11.18%
Revenue growth 3Y54.99%
Revenue growth 5Y26.56%
Sales Q2Q%-33.75%
Revenue Next Year-32.59%
Revenue Next 2Y-14.45%
Revenue Next 3Y0.58%
Revenue Next 5Y9.96%
EBIT growth 1Y158.65%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-55.18%
EBIT Next 3Y35.38%
EBIT Next 5Y26.71%
FCF growth 1Y99.02%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y161.96%
OCF growth 3YN/A
OCF growth 5YN/A