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ASPEN AEROGELS INC (ASPN) Stock Fundamental Analysis

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

6.095  +0.17 (+2.96%)

Fundamental Rating

4

ASPN gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 85 industry peers in the Chemicals industry. While ASPN seems to be doing ok healthwise, there are quite some concerns on its profitability. ASPN shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year ASPN was profitable.
In the past year ASPN had a positive cash flow from operations.
In the past 5 years ASPN reported 4 times negative net income.
ASPN had negative operating cash flow in 4 of the past 5 years.
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 has a worse Return On Assets (-51.54%) than 94.12% of its industry peers.
ASPN has a Return On Equity of -90.85%. This is amonst the worse of the industry: ASPN underperforms 89.41% of its industry peers.
The Return On Invested Capital of ASPN (9.35%) is better than 80.00% 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

ASPN's Operating Margin of 11.44% is fine compared to the rest of the industry. ASPN outperforms 63.53% of its industry peers.
ASPN has a Gross Margin of 39.04%. This is in the better half of the industry: ASPN outperforms 80.00% 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

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ASPN is still creating some value.
The number of shares outstanding for ASPN has been increased compared to 1 year ago.
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 0.44, we must say that ASPN is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of ASPN (0.44) is worse than 81.18% of its industry peers.
ASPN has a Debt/Equity ratio of 0.43. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of ASPN (0.43) is better than 69.41% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.43
Debt/FCF N/A
Altman-Z 0.44
ROIC/WACC1.06
WACC8.81%
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

ASPN has a Current Ratio of 4.22. This indicates that ASPN is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 4.22, ASPN belongs to the best of the industry, outperforming 88.24% of the companies in the same industry.
A Quick Ratio of 3.53 indicates that ASPN has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 3.53, ASPN belongs to the top of the industry, outperforming 90.59% of the companies in the same industry.
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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7

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 209.09% over the past year.
Looking at the last year, ASPN shows a very strong growth in Revenue. The Revenue has grown by 51.90%.
The Revenue has been growing by 26.56% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)209.09%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-200%
Revenue 1Y (TTM)51.9%
Revenue growth 3Y54.99%
Revenue growth 5Y26.56%
Sales Q2Q%-16.7%

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.
The Revenue is expected to grow by 13.35% 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 5Y13.35%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past 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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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 12.70, which indicates a correct valuation of ASPN.
ASPN's Price/Earnings ratio is a bit cheaper when compared to the industry. ASPN is cheaper than 80.00% of the companies in the same industry.
ASPN is valuated cheaply when we compare the Price/Earnings ratio to 27.15, which is the current average of the S&P500 Index.
ASPN is valuated quite expensively with a Price/Forward Earnings ratio of 27.96.
Based on the Price/Forward Earnings ratio, ASPN is valued a bit more expensive than 63.53% of the companies in the same industry.
ASPN's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 21.60.
Industry RankSector Rank
PE 12.7
Fwd PE 27.96
ASPN Price Earnings VS Forward Price EarningsASPN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ASPN indicates a rather cheap valuation: ASPN is cheaper than 84.71% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 6.2
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

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

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ASPEN AEROGELS INC

NYSE:ASPN (7/1/2025, 3:33:00 PM)

6.095

+0.17 (+2.96%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)05-08 2025-05-08/bmo
Earnings (Next)08-05 2025-08-05/amc
Inst Owners74.19%
Inst Owner Change-1.23%
Ins Owners1.16%
Ins Owner Change0.87%
Market Cap500.83M
Analysts77.33
Price Target12.68 (108.04%)
Short Float %13.12%
Short Ratio4.69
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)-28.98%
PT rev (3m)-32.21%
EPS NQ rev (1m)-40%
EPS NQ rev (3m)-742.75%
EPS NY rev (1m)-730.3%
EPS NY rev (3m)-3033.5%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-20.15%
Revenue NY rev (1m)-3.22%
Revenue NY rev (3m)-24.76%
Valuation
Industry RankSector Rank
PE 12.7
Fwd PE 27.96
P/S 1.15
P/FCF N/A
P/OCF 7.27
P/B 1.59
P/tB 1.59
EV/EBITDA 6.2
EPS(TTM)0.48
EY7.88%
EPS(NY)0.22
Fwd EY3.58%
FCF(TTM)-0.05
FCFYN/A
OCF(TTM)0.84
OCFY13.76%
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 0.44
F-Score5
WACC8.81%
ROIC/WACC1.06
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)209.09%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-200%
EPS Next Y-739.46%
EPS Next 2Y-35.25%
EPS Next 3Y14.07%
EPS Next 5Y41.38%
Revenue 1Y (TTM)51.9%
Revenue growth 3Y54.99%
Revenue growth 5Y26.56%
Sales Q2Q%-16.7%
Revenue Next Year-34.16%
Revenue Next 2Y-9.53%
Revenue Next 3Y3.84%
Revenue Next 5Y13.35%
EBIT growth 1Y298.69%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-32.43%
EBIT Next 3Y35.38%
EBIT Next 5Y30.97%
FCF growth 1Y98.55%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y171.64%
OCF growth 3YN/A
OCF growth 5YN/A