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ASPEN AEROGELS INC (ASPN) Stock Fundamental Analysis

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

8.63  -0.37 (-4.11%)

After market: 8.61 -0.02 (-0.23%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to ASPN. ASPN was compared to 85 industry peers in the Chemicals industry. The financial health of ASPN is average, but there are quite some concerns on its profitability. ASPN has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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2

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.
ASPN had negative earnings in each of the past 5 years.
ASPN had a negative operating cash flow in each 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 0 -50M -100M -150M -200M -250M

1.2 Ratios

ASPN has a Return On Assets of 0.19%. This is in the lower half of the industry: ASPN underperforms 61.45% of its industry peers.
With a Return On Equity value of 0.29%, ASPN is not doing good in the industry: 61.45% of the companies in the same industry are doing better.
With a Return On Invested Capital value of 5.11%, ASPN perfoms like the industry average, outperforming 56.63% of the companies in the same industry.
Industry RankSector Rank
ROA 0.19%
ROE 0.29%
ROIC 5.11%
ROA(3y)-13.21%
ROA(5y)-15.23%
ROE(3y)-18.92%
ROE(5y)-22.72%
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 -10 -20 -30 -40

1.3 Margins

Looking at the Profit Margin, with a value of 0.36%, ASPN is doing worse than 61.45% of the companies in the same industry.
ASPN has a Operating Margin of 10.61%. This is comparable to the rest of the industry: ASPN outperforms 59.04% of its industry peers.
ASPN has a better Gross Margin (39.96%) than 79.52% of its industry peers.
In the last couple of years the Gross Margin of ASPN has grown nicely.
Industry RankSector Rank
OM 10.61%
PM (TTM) 0.36%
GM 39.96%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y17.88%
GM growth 5Y14.41%
ASPN Yearly Profit, Operating, Gross MarginsASPN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 -40

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5

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.
There is no outstanding debt for ASPN. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
ASPN Yearly Shares OutstandingASPN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M
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 200M 400M 600M

2.2 Solvency

ASPN has an Altman-Z score of 1.43. This is a bad value and indicates that ASPN is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of ASPN (1.43) is worse than 68.67% of its industry peers.
A Debt/Equity ratio of 0.29 indicates that ASPN is not too dependend on debt financing.
The Debt to Equity ratio of ASPN (0.29) is better than 73.49% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF N/A
Altman-Z 1.43
ROIC/WACC0.63
WACC8.17%
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 0 200M -200M 400M

2.3 Liquidity

ASPN has a Current Ratio of 2.93. This indicates that ASPN is financially healthy and has no problem in meeting its short term obligations.
ASPN has a better Current ratio (2.93) than 83.13% of its industry peers.
ASPN has a Quick Ratio of 2.48. This indicates that ASPN is financially healthy and has no problem in meeting its short term obligations.
With an excellent Quick ratio value of 2.48, ASPN belongs to the best of the industry, outperforming 85.54% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.93
Quick Ratio 2.48
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 100M 200M 300M

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 178.79% over the past year.
EPS 1Y (TTM)178.79%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%1500%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%46.15%

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 27.00% on average over the next years. This is a very strong growth
EPS Next Y-11.77%
EPS Next 2Y25.76%
EPS Next 3Y33.39%
EPS Next 5Y41.38%
Revenue Next Year9.99%
Revenue Next 2Y20.46%
Revenue Next 3Y24.65%
Revenue Next 5Y27%

3.3 Evolution

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
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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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 16.60 indicates a correct valuation of ASPN.
Based on the Price/Earnings ratio, ASPN is valued a bit cheaper than 61.45% of the companies in the same industry.
ASPN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 30.08.
With a Price/Forward Earnings ratio of 18.81, ASPN is valued on the expensive side.
ASPN's Price/Forward Earnings ratio is in line with the industry average.
ASPN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 96.30.
Industry RankSector Rank
PE 16.6
Fwd PE 18.81
ASPN Price Earnings VS Forward Price EarningsASPN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

ASPN's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.23
ASPN Per share dataASPN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

ASPN's earnings are expected to grow with 33.39% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y25.76%
EPS Next 3Y33.39%

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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 (2/14/2025, 8:20:46 PM)

After market: 8.61 -0.02 (-0.23%)

8.63

-0.37 (-4.11%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)02-12 2025-02-12/amc
Earnings (Next)04-29 2025-04-29/amc
Inst Owners80.34%
Inst Owner Change-47.48%
Ins Owners1.55%
Ins Owner Change-0.23%
Market Cap708.09M
Analysts82.35
Price Target28.56 (230.94%)
Short Float %13.03%
Short Ratio6.29
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)335.99%
Min EPS beat(2)328.03%
Max EPS beat(2)343.94%
EPS beat(4)4
Avg EPS beat(4)211.59%
Min EPS beat(4)82.87%
Max EPS beat(4)343.94%
EPS beat(8)8
Avg EPS beat(8)124.1%
EPS beat(12)8
Avg EPS beat(12)71.49%
EPS beat(16)9
Avg EPS beat(16)48.44%
Revenue beat(2)2
Avg Revenue beat(2)9.53%
Min Revenue beat(2)5.19%
Max Revenue beat(2)13.88%
Revenue beat(4)4
Avg Revenue beat(4)11.18%
Min Revenue beat(4)2.11%
Max Revenue beat(4)23.52%
Revenue beat(8)6
Avg Revenue beat(8)7.13%
Revenue beat(12)8
Avg Revenue beat(12)4.18%
Revenue beat(16)11
Avg Revenue beat(16)5.02%
PT rev (1m)-6.67%
PT rev (3m)-14.44%
EPS NQ rev (1m)6.43%
EPS NQ rev (3m)317.36%
EPS NY rev (1m)4.84%
EPS NY rev (3m)-18.76%
Revenue NQ rev (1m)0.2%
Revenue NQ rev (3m)9.18%
Revenue NY rev (1m)-0.01%
Revenue NY rev (3m)4.3%
Valuation
Industry RankSector Rank
PE 16.6
Fwd PE 18.81
P/S 1.71
P/FCF N/A
P/OCF 99.97
P/B 1.39
P/tB 1.39
EV/EBITDA 12.23
EPS(TTM)0.52
EY6.03%
EPS(NY)0.46
Fwd EY5.32%
FCF(TTM)-1.12
FCFYN/A
OCF(TTM)0.09
OCFY1%
SpS5.04
BVpS6.19
TBVpS6.19
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.19%
ROE 0.29%
ROCE 6.47%
ROIC 5.11%
ROICexc 6.14%
ROICexgc 6.14%
OM 10.61%
PM (TTM) 0.36%
GM 39.96%
FCFM N/A
ROA(3y)-13.21%
ROA(5y)-15.23%
ROE(3y)-18.92%
ROE(5y)-22.72%
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 3Y17.88%
GM growth 5Y14.41%
F-Score6
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF N/A
Debt/EBITDA 2.24
Cap/Depr 458.62%
Cap/Sales 23.99%
Interest Coverage 18.85
Cash Conversion 10.8%
Profit Quality N/A
Current Ratio 2.93
Quick Ratio 2.48
Altman-Z 1.43
F-Score6
WACC8.17%
ROIC/WACC0.63
Cap/Depr(3y)1073.88%
Cap/Depr(5y)655.17%
Cap/Sales(3y)61.16%
Cap/Sales(5y)37.68%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)178.79%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%1500%
EPS Next Y-11.77%
EPS Next 2Y25.76%
EPS Next 3Y33.39%
EPS Next 5Y41.38%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%46.15%
Revenue Next Year9.99%
Revenue Next 2Y20.46%
Revenue Next 3Y24.65%
Revenue Next 5Y27%
EBIT growth 1Y172.88%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year256.73%
EBIT Next 3Y66.26%
EBIT Next 5Y43.58%
FCF growth 1Y55.96%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y108.6%
OCF growth 3YN/A
OCF growth 5YN/A