# Aspen Aerogels Inc. (ASPN) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Industrials / Building Products. Price $4.96, market value $412 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Aspen Aerogels Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 2.0×**. Each dollar of revenue is priced at 2.0×.
- **Price / book: 2.1×**. The shares trade at 2.1× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 8.4%** (5-yr avg -17.4%). Free cash flow equals 8.4% of the market value, above its five-year average of -17.4%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.

## Profitability
- **Gross margin: 2.7%**. Aspen Aerogels Inc. keeps 2.7% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: -61.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -143.7%**. The company reported a net loss over the last twelve months.
- **Return on equity: -165.4%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -57.6%**. Return on all capital, debt included, is -57.6%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -31.0%**. Each dollar of assets produces -31.0% of profit.

## Growth
- **Revenue growth (1 yr): -40.1%** (3-yr 14.5%/yr, 5-yr 22.0%/yr). Revenue fell 40.1% over the last year, against 22.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -2882.4%**. Earnings per share fell 2882.4%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.38**. Debt is 0.38 times equity: a conservative balance sheet.
- **Current ratio: 3.90** (quick 3.90). Current assets cover the next year's liabilities 3.90 times.
- **Altman Z-score: 0.38**. A Z-score of 0.38 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Aspen Aerogels Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -40.8%** (YTD 70.3%, 3-mo 1.9%). The shares are down 40.8% over twelve months including dividends.
- **From 52-week high: -38.8%** (115.7% above the low). Trading 39% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 39**. An RSI of 39 is neutral.
- **Beta (1 yr): 2.10** (volatility 98%). Beta of 2.10 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ASPN · Page: https://foliofundamentals.com/stocks/aspn

Not investment advice.