ASPN
Aspen Aerogels Inc Industrials Wholesale-Lumber & Other Construction Materials Russell 3000
$5.05Close
$417.7MMarket cap
$4.76 – $6.0752-week range
Nov 5, 2026Next report · before the open
Highlights
Cautions
- Results soon Nov 5, 2026, in 4 days
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
17%
1wk
down 8.5%
price change
1mo
down 7.8%
price change
12-month return
down 17%
total, dividends included
F-score
4 / 9
Weak
Altman Z″
-10.32
Elevated risk
P/E
—
price / earnings
PEG
—
P/E / EPS growth
P/B
1.8×
price / book
Earnings yield
down 115.9%
EBIT / enterprise value
Cheaper than
32%
of the market · expensive
Revenue growth
down 40%
year on year
EPS growth
—
latest quarter
Sales growth
down 36%
latest quarter · +16 pts
ROE
down 92%
return on equity
Free cash margin
down 2%
-$4.6M FCF
D/E
0.28
long-term debt / equity
Net debt / EBITDA
—
Interest cover
Lossoperating loss
Piotroski tests
- not yet profitable on its assets
- profitability slipped from last year
- issued more shares
- gross margin narrowed
- assets working less efficiently
- generating cash from operations
- profits backed by cash
- reduced long-term debt
- short-term liquidity improved
Repair signals
- Long-term debt down 31% ($0.1B → $0.1B)
Trade setup
ATR%
5.8%
$0.29 a day · 2×ATR $4.46
RS
—
vs the universe
Trend
—
trend template
Relative volume
1.4×
vs 50-day average
Up/down volume
0.99
50 sessions
Implied move
—
no option chain · report Nov 5, 2026
Screen verdict
Did not qualify for any screen.
Warning signs
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Losing money before interest is even paid The company made an operating loss, so interest is not covered at all - the debt is being serviced from cash reserves, asset sales or new borrowing rather than from the business.
- Gross margin narrowing Gross margin fell from 40.4% to 17.0%. The company is keeping less of each dollar of sales than it did a year ago.
- Revenue shrinking Revenue fell 40.1% over the year, from $452.7M to $271.1M.
Last reported
Aug 6, 2026
Financials
- Gross 17%
- Net -144%
- Free cash -2%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $100.3M | $121.6M | $180.4M | $238.7M | $452.7M | $271.1M |
| Gross margin | 15% | 8% | 3% | 24% | 40% | 17% |
| Operating income | -$21.6M | -$40.6M | -$79.2M | -$49.2M | $54.5M | -$378.2M |
| Net income | -$21.8M | -$37.1M | -$82.7M | -$45.8M | $13.4M | -$389.6M |
| Net margin | -22% | -30% | -46% | -19% | 3% | -144% |
| Earnings per share | -$0.83 | -$1.22 | -$2.10 | -$0.66 | $0.17 | -$4.73 |
| Free cash flow | -$13.3M | -$32.4M | -$272.4M | -$218.1M | -$40.7M | -$4.6M |
| Free cash margin | -13% | -27% | -151% | -91% | -9% | -2% |
| Cash | $16.5M | $76.6M | $281.3M | $139.7M | $220.9M | $156.9M |
| Long-term debt | $2.1M | — | — | — | $95.0M | $65.5M |
| Shareholders' equity | $67.9M | $128.4M | $447.4M | $488.1M | $614.7M | $235.5M |
| Shares outstanding | 27.82m | 33.22m | 69.99m | 76.50m | 82.04m | 82.71m |
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Aug 7, 2026 | Quarterly ↗ | Jun 30, 2026 | 38d |
| May 8, 2026 | Quarterly ↗ | Mar 31, 2026 | 38d |
| Mar 13, 2026 | Annual ↗ | Dec 31, 2025 | 72d |
| Nov 6, 2025 | Quarterly ↗ | Sep 30, 2025 | 37d |
| Aug 7, 2025 | Quarterly ↗ | Jun 30, 2025 | 38d |
| May 8, 2025 | Quarterly ↗ | Mar 31, 2025 | 38d |
| Feb 27, 2025 | Annual ↗ | Dec 31, 2024 | 58d |
| Nov 7, 2024 | Quarterly ↗ | Sep 30, 2024 | 38d |
| Aug 8, 2024 | Quarterly ↗ | Jun 30, 2024 | 39d |
| May 2, 2024 | Quarterly ↗ | Mar 31, 2024 | 32d |
| Mar 7, 2024 | Annual ↗ | Dec 31, 2023 | 67d |
| Nov 2, 2023 | Quarterly ↗ | Sep 30, 2023 | 33d |
Current reports
| Filed | Disclosed |
|---|---|
| Sep 15, 2026 | Regulation FD ↗ |
| Aug 6, 2026 | Results · Regulation FD ↗ |
| May 18, 2026 | Director or officer change · Shareholder vote · Regulation FD ↗ |
| May 7, 2026 | Results · Regulation FD ↗ |
| Apr 21, 2026 | Regulation FD · Other events ↗ |
| Feb 25, 2026 | Results · Regulation FD ↗ |
| Dec 18, 2025 | Material agreement · Regulation FD ↗ |
| Nov 6, 2025 | Results · Regulation FD ↗ |
| Sep 11, 2025 | Director or officer change ↗ |
| Aug 7, 2025 | Results · Regulation FD ↗ |
| May 8, 2025 | Results · Regulation FD ↗ |
| May 1, 2025 | Director or officer change · Shareholder vote ↗ |