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ASPEN AEROGELS INC (ASPN) Stock Fundamental Analysis

NYSE:ASPN - New York Stock Exchange, Inc. - US04523Y1055 - Common Stock - Currency: USD

6.84  -0.27 (-3.8%)

Premarket: 6.86 +0.02 (+0.29%)

Fundamental Rating

3

Overall ASPN gets a fundamental rating of 3 out of 10. We evaluated ASPN against 84 industry peers in the Chemicals industry. The financial health of ASPN is average, but there are quite some concerns on its profitability. While showing a medium growth rate, ASPN is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year ASPN was profitable.
ASPN had a positive operating cash flow in the past year.
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

With a Return On Assets value of -51.54%, ASPN is not doing good in the industry: 94.05% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of -90.85%, ASPN is doing worse than 86.90% of the companies in the same industry.
ASPN has a Return On Invested Capital of 9.35%. This is in the better half of the industry: ASPN outperforms 79.76% of its industry peers.
Industry RankSector Rank
ROA -51.54%
ROE -90.85%
ROIC 9.35%
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 (11.44%) is better than 63.10% of its industry peers.
ASPN's Gross Margin of 39.04% is fine compared to the rest of the industry. ASPN outperforms 79.76% of its industry peers.
In the last couple of years the Gross Margin of ASPN has grown nicely.
Industry RankSector Rank
OM 11.44%
PM (TTM) N/A
GM 39.04%
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

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ASPN is creating some value.
Compared to 1 year ago, ASPN has more shares outstanding
ASPN has more shares outstanding than it did 5 years ago.
ASPN has a worse debt/assets ratio than last year.
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 0.63, we must say that ASPN is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of ASPN (0.63) is worse than 78.57% of its industry peers.
A Debt/Equity ratio of 0.43 indicates that ASPN is not too dependend on debt financing.
ASPN has a Debt to Equity ratio of 0.43. This is in the better half of the industry: ASPN outperforms 67.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.43
Debt/FCF N/A
Altman-Z 0.63
ROIC/WACC1.03
WACC9.04%
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 4.22 indicates that ASPN has no problem at all paying its short term obligations.
ASPN has a Current ratio of 4.22. This is amongst the best in the industry. ASPN outperforms 88.10% of its industry peers.
A Quick Ratio of 3.53 indicates that ASPN has no problem at all paying its short term obligations.
The Quick ratio of ASPN (3.53) is better than 90.48% of its industry peers.
Industry RankSector Rank
Current Ratio 4.22
Quick Ratio 3.53
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.
Measured over the past years, ASPN shows a very strong growth in Revenue. The Revenue has been growing by 26.56% on average per year.
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

The Earnings Per Share is expected to grow by 41.38% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 9.96% on average over the next years. This is quite good.
EPS Next Y-739.46%
EPS Next 2Y-35.25%
EPS Next 3Y14.07%
EPS Next 5Y41.38%
Revenue Next Year-34.16%
Revenue Next 2Y-9.53%
Revenue Next 3Y3.84%
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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1

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 42.75, the valuation of ASPN can be described as expensive.
Based on the Price/Earnings ratio, ASPN is valued a bit more expensive than the industry average as 61.90% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 26.85, ASPN is valued quite expensively.
A Price/Forward Earnings ratio of 31.37 indicates a quite expensive valuation of ASPN.
Based on the Price/Forward Earnings ratio, ASPN is valued a bit more expensive than 65.48% of the companies in the same industry.
ASPN's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 34.98.
Industry RankSector Rank
PE 42.75
Fwd PE 31.37
ASPN Price Earnings VS Forward Price EarningsASPN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ASPN indicates a somewhat cheap valuation: ASPN is cheaper than 78.57% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.24
ASPN Per share dataASPN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4 5

4.3 Compensation for Growth

ASPN's earnings are expected to grow with 14.07% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-35.25%
EPS Next 3Y14.07%

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0

5. Dividend

5.1 Amount

ASPN does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ASPEN AEROGELS INC

NYSE:ASPN (8/19/2025, 8:04:00 PM)

Premarket: 6.86 +0.02 (+0.29%)

6.84

-0.27 (-3.8%)

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-0.42%
Ins Owners1.16%
Ins Owner Change0.84%
Market Cap562.04M
Analysts77.14
Price Target9.35 (36.7%)
Short Float %12.39%
Short Ratio4
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)2
Avg EPS beat(2)37%
Min EPS beat(2)16.72%
Max EPS beat(2)57.28%
EPS beat(4)4
Avg EPS beat(4)186.49%
Min EPS beat(4)16.72%
Max EPS beat(4)343.94%
EPS beat(8)8
Avg EPS beat(8)124.03%
EPS beat(12)10
Avg EPS beat(12)85.14%
EPS beat(16)11
Avg EPS beat(16)56.87%
Revenue beat(2)0
Avg Revenue beat(2)-3.42%
Min Revenue beat(2)-6.73%
Max Revenue beat(2)-0.11%
Revenue beat(4)2
Avg Revenue beat(4)3.06%
Min Revenue beat(4)-6.73%
Max Revenue beat(4)13.88%
Revenue beat(8)5
Avg Revenue beat(8)6.19%
Revenue beat(12)7
Avg Revenue beat(12)3.12%
Revenue beat(16)10
Avg Revenue beat(16)4.52%
PT rev (1m)-26.25%
PT rev (3m)-47.62%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-9872.73%
EPS NY rev (1m)0%
EPS NY rev (3m)-730.3%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.22%
Valuation
Industry RankSector Rank
PE 42.75
Fwd PE 31.37
P/S 1.29
P/FCF N/A
P/OCF 8.15
P/B 1.79
P/tB 1.79
EV/EBITDA 7.24
EPS(TTM)0.16
EY2.34%
EPS(NY)0.22
Fwd EY3.19%
FCF(TTM)-0.05
FCFYN/A
OCF(TTM)0.84
OCFY12.26%
SpS5.32
BVpS3.83
TBVpS3.83
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -51.54%
ROE -90.85%
ROCE 10.55%
ROIC 9.35%
ROICexc 15.73%
ROICexgc 15.73%
OM 11.44%
PM (TTM) N/A
GM 39.04%
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-Score5
Asset Turnover0.79
Health
Industry RankSector Rank
Debt/Equity 0.43
Debt/FCF N/A
Debt/EBITDA 1.88
Cap/Depr 325.73%
Cap/Sales 16.8%
Interest Coverage 4.9
Cash Conversion 95.07%
Profit Quality N/A
Current Ratio 4.22
Quick Ratio 3.53
Altman-Z 0.63
F-Score5
WACC9.04%
ROIC/WACC1.03
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-739.46%
EPS Next 2Y-35.25%
EPS Next 3Y14.07%
EPS Next 5Y41.38%
Revenue 1Y (TTM)11.18%
Revenue growth 3Y54.99%
Revenue growth 5Y26.56%
Sales Q2Q%-33.75%
Revenue Next Year-34.16%
Revenue Next 2Y-9.53%
Revenue Next 3Y3.84%
Revenue Next 5Y9.96%
EBIT growth 1Y298.69%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-55.18%
EBIT Next 3Y35.38%
EBIT Next 5Y26.71%
FCF growth 1Y98.55%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y171.64%
OCF growth 3YN/A
OCF growth 5YN/A