Aqua Metals, Inc. (AQMS) 10-Year Financial Performance & Capital Metrics

AQMS • • Industrial / General

IndustrialsWaste ManagementWaste Recycling & Resource RecoveryMetal Recycling

AboutAqua Metals, Inc. engages in the recycling of lead primarily in the United States. It produces and sells hard lead, lead compounds, and plastics. Aqua Metals, Inc. was incorporated in 2014 and is headquartered in Reno, Nevada.Show more

Revenue $0 -100.0%
EBITDA -$23M +2.7%
Net Income -$25M -2.6%
EPS (Diluted) -38.25 +25.0%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -116.08% -13.9%
ROIC -122.46% -10.4%
Debt/Equity 0.26 +112.0%
Interest Coverage -41.55 -5.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.2x book value

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Shares diluted 36.7% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM5.49%

EPS CAGR

10Y-

5Y-

3Y-

TTM34.88%

ROCE

10Y Avg-56.05%

5Y Avg-70.3%

3Y Avg-86.8%

Latest-101.11%

Peer Comparison

Metal Recycling

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
YDDLOne and one Green Technologies. Inc	238.12M	5.40	45	29.54%	12.11%	36.18%	0.84%	0.04
AQMSAqua Metals, Inc.	18.13M	6.08	-0.16	-100%		-393.27%		0.26
GWAVGreenwave Technology Solutions, Inc.	4.02M	4.84	-0.57	-6.59%	-63.84%	-49.41%		0.43

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	2.09M	4.45M	4.87M	108K	173K	4K	25K	0
Revenue Growth %	-	-	-	1.13%	0.1%	-0.98%	0.6%	-0.98%	5.25%	-1%
Cost of Goods Sold+	198.91K	815K	9.54M	22.76M	24.8M	5.48M	7.02M	3.96M	6.28M	7.21M
COGS % of Revenue	-	-	4.57%	5.12%	5.09%	50.7%	40.56%	989.75%	251.28%	-
Gross Profit+	-198.91K	-815K	-7.45M	-18.31M	-19.93M	-5.37M	-6.84M	-3.96M	-6.26M	-7.21M
Gross Margin %	-	-	-3.57%	-4.12%	-4.09%	-49.7%	-39.56%	-988.75%	-250.28%	-
Gross Profit Growth %	-	-3.1%	-8.14%	-1.46%	-0.09%	0.73%	-0.27%	0.42%	-0.58%	-0.15%
Operating Expenses+	5.45M	12.96M	14.99M	18.72M	20.87M	10.03M	10.62M	11.61M	18.21M	16.63M
OpEx % of Revenue	-	-	7.18%	4.21%	4.28%	92.82%	61.39%	2902.75%	728.28%	-
Selling, General & Admin	3.17M	6.61M	6.89M	14.21M	19.31M	9M	9.69M	9.81M	11.64M	11.97M
SG&A % of Revenue	-	-	3.3%	3.19%	3.96%	83.31%	56%	2453.75%	465.52%	-
Research & Development	2.28M	6.35M	8.1M	4.5M	1.55M	1.03M	933K	1.81M	1.74M	1.59M
R&D % of Revenue	-	-	3.88%	1.01%	0.32%	9.51%	5.39%	453.25%	69.64%	-
Other Operating Expenses	6.5K	6.35M	0	0	0	0	0	-17K	4.83M	3.08M
Operating Income+	-5.45M	-12.96M	-24.86M	-37.03M	-40.79M	-15.39M	-17.46M	-15.57M	-24.46M	-23.85M
Operating Margin %	-	-	-11.91%	-8.32%	-8.37%	-142.53%	-100.95%	-3891.5%	-978.56%	-
Operating Income Growth %	-0.94%	-1.38%	-0.92%	-0.49%	-0.1%	0.62%	-0.13%	0.11%	-0.57%	0.03%
EBITDA+	-5.25M	-12.14M	-21.76M	-33.58M	-37.07M	-12.94M	-16.14M	-14.51M	-23.19M	-22.57M
EBITDA Margin %	-	-	-10.42%	-7.55%	-7.6%	-119.79%	-93.32%	-3626.25%	-927.72%	-
EBITDA Growth %	-0.93%	-1.31%	-0.79%	-0.54%	-0.1%	0.65%	-0.25%	0.1%	-0.6%	0.03%
D&A (Non-Cash Add-back)	198.91K	815K	3.1M	3.45M	3.73M	2.46M	1.32M	1.06M	1.27M	1.27M
EBIT	-11.2M	-12.96M	-24.82M	-36.8M	-41.42M	-24.14M	-18.17M	-15.3M	-23.32M	-23.98M
Net Interest Income+	-1.11M	-598K	-1.72M	-3.22M	-3.21M	-1.57M	358K	137K	526K	-198K
Interest Income	19.22K	41K	41K	223K	270K	48K	379K	262K	1.15M	376K
Interest Expense	1.13M	639K	1.76M	3.45M	3.48M	1.62M	21K	125K	621K	574K
Other Income/Expense	-6.88M	-598K	-1.72M	-3.22M	-4M	-10.37M	-726K	137K	526K	-705K
Pretax Income+	-12.33M	-13.56M	-26.58M	-40.25M	-44.79M	-25.76M	-18.19M	-15.43M	-23.94M	-24.55M
Pretax Margin %	-	-	-12.73%	-9.05%	-9.19%	-238.52%	-105.15%	-3857.25%	-957.52%	-
Income Tax+	1.6K	1K	2K	2K	2K	2K	2K	2K	0	3K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-12.33M	-13.56M	-26.58M	-40.25M	-44.8M	-25.76M	-18.19M	-15.43M	-23.94M	-24.55M
Net Margin %	-	-	-12.73%	-9.05%	-9.19%	-238.54%	-105.16%	-3857.75%	-957.52%	-
Net Income Growth %	-1.6%	-0.1%	-0.96%	-0.51%	-0.11%	0.42%	0.29%	0.15%	-0.55%	-0.03%
Net Income (Continuing)	-12.33M	-13.56M	-26.58M	-40.25M	-44.8M	-25.76M	-18.19M	-15.43M	-23.94M	-24.55M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-293.50	-177.60	-262.00	-235.70	-171.40	-84.66	-51.98	-40.71	-50.97	-38.25
EPS Growth %	-0.35%	0.39%	-0.48%	0.1%	0.27%	0.51%	0.39%	0.22%	-0.25%	0.25%
EPS (Basic)	-293.50	-177.60	-262.00	-235.70	-171.40	-84.66	-51.98	-40.71	-50.97	-38.25
Diluted Shares Outstanding	42.02K	76.34K	101.47K	170.77K	261.32K	304.31K	350.01K	379.06K	469.66K	641.96K
Basic Shares Outstanding	42.02K	76.34K	101.47K	170.77K	261.32K	304.31K	350.01K	379.06K	469.66K	641.96K
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	31.95M	27.37M	25.68M	22.75M	27.5M	8.36M	12.44M	23.21M	18.3M	4.64M
Cash & Short-Term Investments	20.14M	25.46M	22.79M	20.89M	7.58M	6.53M	8.14M	7.08M	16.52M	4.08M
Cash Only	20.14M	25.46M	22.79M	20.89M	7.58M	6.53M	8.14M	7.08M	16.52M	4.08M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	0	0	882K	725K	17.69M	32K	1.19M	15.54M	667K	100K
Days Sales Outstanding	-	-	154.18	59.48	1.32K	108.15	2.51K	1000K	9.74K	-
Inventory	0	59K	1.24M	765K	1.26M	1.09M	123K	278K	929K	251K
Days Inventory Outstanding	-	26.42	47.4	12.27	18.5	72.72	6.4	25.63	53.98	12.7
Other Current Assets	11.71M	1.4M	0	370K	0	0	2.63M	47K	181K	214K
Total Non-Current Assets+	15.32M	44.16M	48.76M	48.62M	41.95M	26.78M	20.83M	10.29M	15.3M	21.72M
Property, Plant & Equipment	8.81M	41.39M	45.73M	45.55M	37.64M	25.6M	2.88M	7.34M	10.57M	17.02M
Fixed Asset Turnover	-	-	0.05x	0.10x	0.13x	0.00x	0.06x	0.00x	0.00x	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	1.07M	1.14M	1.46M	1.27M	999K	819K	640K	461K	281K	146K
Long-Term Investments	1.59M	0	1.56M	0	0	0	1.5M	2M	0	0
Other Non-Current Assets	5.45M	1.63M	1.56M	1.8M	3.31M	362K	15.81M	489K	4.45M	4.56M
Total Assets+	47.28M	71.53M	74.44M	71.37M	69.45M	35.14M	33.27M	33.5M	33.6M	26.36M
Asset Turnover	-	-	0.03x	0.06x	0.07x	0.00x	0.01x	0.00x	0.00x	-
Asset Growth %	7.12%	0.51%	0.04%	-0.04%	-0.03%	-0.49%	-0.05%	0.01%	0%	-0.22%
Total Current Liabilities+	3.32M	4.03M	3.83M	11.8M	9.81M	3.45M	4.08M	12.31M	4.61M	8.18M
Accounts Payable	3.19M	1.57M	1.44M	2.09M	4.83M	1.55M	685K	1.07M	1.84M	1.23M
Days Payables Outstanding	5.86K	704.02	54.94	33.48	71.07	103.45	35.63	99.11	106.68	62.09
Short-Term Debt	44.97K	307K	405K	4.39M	848K	29K	0	5.9M	35K	3.54M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	-369	177K	1.52M	2.73M	1.75M	774K	0	4.61M	0	0
Current Ratio	9.63x	6.79x	6.70x	1.93x	2.80x	2.42x	3.05x	1.89x	3.97x	0.57x
Quick Ratio	9.63x	6.78x	6.38x	1.86x	2.68x	2.10x	3.02x	1.86x	3.77x	0.54x
Cash Conversion Cycle	-	-	146.64	38.26	1.27K	77.42	2.48K	1000K	9.69K	-
Total Non-Current Liabilities+	10.29M	10.51M	11.64M	9.48M	10.05M	545K	1.66M	275K	2.92M	1.94M
Long-Term Debt	9.22M	9.54M	10.16M	8.6M	8.4M	303K	0	0	2.92M	0
Capital Lease Obligations	0	0	11K	110K	861K	242K	330K	275K	0	446K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.07M	963K	1.47M	772K	790K	0	1.33M	0	0	1.49M
Total Liabilities	13.61M	14.54M	15.48M	21.28M	19.86M	4M	5.74M	12.59M	7.54M	10.12M
Total Debt+	9.27M	9.85M	10.58M	13.22M	10.66M	1.19M	718K	6.48M	3.23M	4.27M
Net Debt	-10.87M	-15.61M	-12.22M	-7.67M	3.09M	-5.34M	-7.42M	-601K	-13.29M	192K
Debt / Equity	0.28x	0.17x	0.18x	0.26x	0.22x	0.04x	0.03x	0.31x	0.12x	0.26x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-4.83x	-20.28x	-14.12x	-10.74x	-11.73x	-9.50x	-831.67x	-124.53x	-39.39x	-41.55x
Total Equity+	33.67M	56.99M	58.97M	50.09M	49.59M	31.14M	27.53M	20.92M	26.06M	16.24M
Equity Growth %	44.76%	0.69%	0.03%	-0.15%	-0.01%	-0.37%	-0.12%	-0.24%	0.25%	-0.38%
Book Value per Share	801.14	746.57	581.13	293.31	189.76	102.33	78.66	55.18	55.50	25.30
Total Shareholders' Equity	33.67M	56.99M	58.97M	50.09M	49.59M	31.14M	27.53M	20.92M	26.06M	16.24M
Common Stock	14.14K	18K	113.81M	39K	58K	64K	70K	79K	108K	8K
Retained Earnings	-14.71M	-28.26M	-54.84M	-95.1M	-139.89M	-165.65M	-183.85M	-199.28M	-223.22M	-247.77M
Treasury Stock	0	0	0	0	0	0	0	0	-516K	-192K
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-1.48M	-11.12M	-19M	-26.32M	-25.18M	-11.03M	-7.62M	-10.15M	-3.19M	-13.63M
Operating CF Margin %	-	-	-9.1%	-5.92%	-5.17%	-102.12%	-44.02%	-2537%	-127.72%	-
Operating CF Growth %	-0.3%	-6.53%	-0.71%	-0.39%	0.04%	0.56%	0.31%	-0.33%	0.69%	-3.27%
Net Income	-12.33M	-13.56M	-26.58M	-40.25M	-44.8M	-25.76M	-18.19M	-15.43M	-23.94M	-24.55M
Depreciation & Amortization	198.91K	815K	3.07M	3.4M	4.08M	2.41M	1.32M	1.06M	1.27M	1.27M
Stock-Based Compensation	300.77K	1.06M	1.08M	1.2M	4.21M	3.57M	0	2.25M	2.53M	2.74M
Deferred Taxes	5.84M	138K	2.94M	1.45M	6.02M	0	0	0	0	0
Other Non-Cash Items	1.23M	459K	1.09M	2.67M	7.68M	13.07M	8.45M	956K	17.52M	4.7M
Working Capital Changes	3.29M	-36K	-609K	5.21M	-2.37M	-4.32M	808K	1.01M	-583K	2.21M
Change in Receivables	0	170K	-882K	157K	481K	212K	-237K	120K	-55K	67K
Change in Inventory	0	-59K	-1.64M	295K	-492K	166K	822K	-155K	-651K	396K
Change in Payables	3.15M	-176K	926K	472K	823K	-2M	8K	22K	139K	-21K
Cash from Investing+	-25.04M	-19.06M	-8.65M	-3.93M	-10.57M	6.63M	-2.23M	-3.42M	-9.81M	-11.64M
Capital Expenditures	-7.93M	-26.71M	-9.43M	-3.69M	-13.07M	-3.37M	-2.35M	-4.77M	-9.88M	-12.16M
CapEx % of Revenue	-	-	4.52%	0.83%	2.68%	31.18%	13.58%	1192.75%	395.32%	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-17.11M	7.65M	783K	-236K	2.5M	10M	0	1.85M	70K	522K
Cash from Financing+	42.12M	35.5M	24.99M	28.35M	22.43M	3.35M	11.45M	12.51M	22.45M	12.82M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-189	0	0	0	0	0	553K	108K	-1.22M	-923K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-9.41M	-37.83M	-28.44M	-30.01M	-38.25M	-14.4M	-9.96M	-14.92M	-13.08M	-25.79M
FCF Margin %	-	-	-13.62%	-6.75%	-7.85%	-133.3%	-57.6%	-3729.75%	-523.04%	-
FCF Growth %	-4.77%	-3.02%	0.25%	-0.06%	-0.27%	0.62%	0.31%	-0.5%	0.12%	-0.97%
FCF per Share	-223.82	-495.61	-280.25	-175.74	-146.38	-47.31	-28.47	-39.36	-27.84	-40.17
FCF Conversion (FCF/Net Income)	0.12x	0.82x	0.71x	0.65x	0.56x	0.43x	0.42x	0.66x	0.13x	0.56x
Interest Paid	103.08K	330K	699K	668K	697K	1.04M	0	84K	480K	333K
Taxes Paid	1.6K	1K	2K	2K	2K	2K	0	2K	0	3K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-74.97%	-29.91%	-45.85%	-73.82%	-89.88%	-63.82%	-62.02%	-63.7%	-101.91%	-116.08%
Return on Invested Capital (ROIC)	-36.22%	-30.29%	-42.31%	-62.29%	-64.35%	-29.42%	-57.06%	-57.75%	-110.9%	-122.46%
Gross Margin	-	-	-356.94%	-411.6%	-408.8%	-4970.37%	-3956.07%	-98875%	-25028%	-
Net Margin	-	-	-1272.99%	-904.79%	-919.06%	-23853.7%	-10516.18%	-385775%	-95752%	-
Debt / Equity	0.28x	0.17x	0.18x	0.26x	0.22x	0.04x	0.03x	0.31x	0.12x	0.26x
Interest Coverage	-4.83x	-20.28x	-14.12x	-10.74x	-11.73x	-9.50x	-831.67x	-124.53x	-39.39x	-41.55x
FCF Conversion	0.12x	0.82x	0.71x	0.65x	0.56x	0.43x	0.42x	0.66x	0.13x	0.56x
Revenue Growth	-	-	-	113.07%	9.55%	-97.78%	60.19%	-97.69%	525%	-100%

Frequently Asked Questions

Growth & Financials

Aqua Metals, Inc. (AQMS) saw revenue decline by 100.0% over the past year.

Aqua Metals, Inc. (AQMS) reported a net loss of $25.6M for fiscal year 2024.

Dividend & Returns

Aqua Metals, Inc. (AQMS) has a return on equity (ROE) of -116.1%. Negative ROE indicates the company is unprofitable.

Aqua Metals, Inc. (AQMS) had negative free cash flow of $11.0M in fiscal year 2024, likely due to heavy capital investments.

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Aqua Metals, Inc. (AQMS) 10-Year Financial Performance & Capital Metrics

AQMS • • Industrial / General

IndustrialsWaste ManagementWaste Recycling & Resource RecoveryMetal Recycling

Revenue $0 -100.0%
EBITDA -$23M +2.7%
Net Income -$25M -2.6%
EPS (Diluted) -38.25 +25.0%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -116.08% -13.9%
ROIC -122.46% -10.4%
Debt/Equity 0.26 +112.0%
Interest Coverage -41.55 -5.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.2x book value

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Shares diluted 36.7% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM5.49%

EPS CAGR

10Y-

5Y-

3Y-

TTM34.88%

ROCE

10Y Avg-56.05%

5Y Avg-70.3%

3Y Avg-86.8%

Latest-101.11%

Peer Comparison

Metal Recycling

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
YDDLOne and one Green Technologies. Inc	238.12M	5.40	45	29.54%	12.11%	36.18%	0.84%	0.04
AQMSAqua Metals, Inc.	18.13M	6.08	-0.16	-100%		-393.27%		0.26
GWAVGreenwave Technology Solutions, Inc.	4.02M	4.84	-0.57	-6.59%	-63.84%	-49.41%		0.43

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	2.09M	4.45M	4.87M	108K	173K	4K	25K	0
Revenue Growth %	-	-	-	1.13%	0.1%	-0.98%	0.6%	-0.98%	5.25%	-1%
Cost of Goods Sold+	198.91K	815K	9.54M	22.76M	24.8M	5.48M	7.02M	3.96M	6.28M	7.21M
COGS % of Revenue	-	-	4.57%	5.12%	5.09%	50.7%	40.56%	989.75%	251.28%	-
Gross Profit+	-198.91K	-815K	-7.45M	-18.31M	-19.93M	-5.37M	-6.84M	-3.96M	-6.26M	-7.21M
Gross Margin %	-	-	-3.57%	-4.12%	-4.09%	-49.7%	-39.56%	-988.75%	-250.28%	-
Gross Profit Growth %	-	-3.1%	-8.14%	-1.46%	-0.09%	0.73%	-0.27%	0.42%	-0.58%	-0.15%
Operating Expenses+	5.45M	12.96M	14.99M	18.72M	20.87M	10.03M	10.62M	11.61M	18.21M	16.63M
OpEx % of Revenue	-	-	7.18%	4.21%	4.28%	92.82%	61.39%	2902.75%	728.28%	-
Selling, General & Admin	3.17M	6.61M	6.89M	14.21M	19.31M	9M	9.69M	9.81M	11.64M	11.97M
SG&A % of Revenue	-	-	3.3%	3.19%	3.96%	83.31%	56%	2453.75%	465.52%	-
Research & Development	2.28M	6.35M	8.1M	4.5M	1.55M	1.03M	933K	1.81M	1.74M	1.59M
R&D % of Revenue	-	-	3.88%	1.01%	0.32%	9.51%	5.39%	453.25%	69.64%	-
Other Operating Expenses	6.5K	6.35M	0	0	0	0	0	-17K	4.83M	3.08M
Operating Income+	-5.45M	-12.96M	-24.86M	-37.03M	-40.79M	-15.39M	-17.46M	-15.57M	-24.46M	-23.85M
Operating Margin %	-	-	-11.91%	-8.32%	-8.37%	-142.53%	-100.95%	-3891.5%	-978.56%	-
Operating Income Growth %	-0.94%	-1.38%	-0.92%	-0.49%	-0.1%	0.62%	-0.13%	0.11%	-0.57%	0.03%
EBITDA+	-5.25M	-12.14M	-21.76M	-33.58M	-37.07M	-12.94M	-16.14M	-14.51M	-23.19M	-22.57M
EBITDA Margin %	-	-	-10.42%	-7.55%	-7.6%	-119.79%	-93.32%	-3626.25%	-927.72%	-
EBITDA Growth %	-0.93%	-1.31%	-0.79%	-0.54%	-0.1%	0.65%	-0.25%	0.1%	-0.6%	0.03%
D&A (Non-Cash Add-back)	198.91K	815K	3.1M	3.45M	3.73M	2.46M	1.32M	1.06M	1.27M	1.27M
EBIT	-11.2M	-12.96M	-24.82M	-36.8M	-41.42M	-24.14M	-18.17M	-15.3M	-23.32M	-23.98M
Net Interest Income+	-1.11M	-598K	-1.72M	-3.22M	-3.21M	-1.57M	358K	137K	526K	-198K
Interest Income	19.22K	41K	41K	223K	270K	48K	379K	262K	1.15M	376K
Interest Expense	1.13M	639K	1.76M	3.45M	3.48M	1.62M	21K	125K	621K	574K
Other Income/Expense	-6.88M	-598K	-1.72M	-3.22M	-4M	-10.37M	-726K	137K	526K	-705K
Pretax Income+	-12.33M	-13.56M	-26.58M	-40.25M	-44.79M	-25.76M	-18.19M	-15.43M	-23.94M	-24.55M
Pretax Margin %	-	-	-12.73%	-9.05%	-9.19%	-238.52%	-105.15%	-3857.25%	-957.52%	-
Income Tax+	1.6K	1K	2K	2K	2K	2K	2K	2K	0	3K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-12.33M	-13.56M	-26.58M	-40.25M	-44.8M	-25.76M	-18.19M	-15.43M	-23.94M	-24.55M
Net Margin %	-	-	-12.73%	-9.05%	-9.19%	-238.54%	-105.16%	-3857.75%	-957.52%	-
Net Income Growth %	-1.6%	-0.1%	-0.96%	-0.51%	-0.11%	0.42%	0.29%	0.15%	-0.55%	-0.03%
Net Income (Continuing)	-12.33M	-13.56M	-26.58M	-40.25M	-44.8M	-25.76M	-18.19M	-15.43M	-23.94M	-24.55M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-293.50	-177.60	-262.00	-235.70	-171.40	-84.66	-51.98	-40.71	-50.97	-38.25
EPS Growth %	-0.35%	0.39%	-0.48%	0.1%	0.27%	0.51%	0.39%	0.22%	-0.25%	0.25%
EPS (Basic)	-293.50	-177.60	-262.00	-235.70	-171.40	-84.66	-51.98	-40.71	-50.97	-38.25
Diluted Shares Outstanding	42.02K	76.34K	101.47K	170.77K	261.32K	304.31K	350.01K	379.06K	469.66K	641.96K
Basic Shares Outstanding	42.02K	76.34K	101.47K	170.77K	261.32K	304.31K	350.01K	379.06K	469.66K	641.96K
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	31.95M	27.37M	25.68M	22.75M	27.5M	8.36M	12.44M	23.21M	18.3M	4.64M
Cash & Short-Term Investments	20.14M	25.46M	22.79M	20.89M	7.58M	6.53M	8.14M	7.08M	16.52M	4.08M
Cash Only	20.14M	25.46M	22.79M	20.89M	7.58M	6.53M	8.14M	7.08M	16.52M	4.08M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	0	0	882K	725K	17.69M	32K	1.19M	15.54M	667K	100K
Days Sales Outstanding	-	-	154.18	59.48	1.32K	108.15	2.51K	1000K	9.74K	-
Inventory	0	59K	1.24M	765K	1.26M	1.09M	123K	278K	929K	251K
Days Inventory Outstanding	-	26.42	47.4	12.27	18.5	72.72	6.4	25.63	53.98	12.7
Other Current Assets	11.71M	1.4M	0	370K	0	0	2.63M	47K	181K	214K
Total Non-Current Assets+	15.32M	44.16M	48.76M	48.62M	41.95M	26.78M	20.83M	10.29M	15.3M	21.72M
Property, Plant & Equipment	8.81M	41.39M	45.73M	45.55M	37.64M	25.6M	2.88M	7.34M	10.57M	17.02M
Fixed Asset Turnover	-	-	0.05x	0.10x	0.13x	0.00x	0.06x	0.00x	0.00x	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	1.07M	1.14M	1.46M	1.27M	999K	819K	640K	461K	281K	146K
Long-Term Investments	1.59M	0	1.56M	0	0	0	1.5M	2M	0	0
Other Non-Current Assets	5.45M	1.63M	1.56M	1.8M	3.31M	362K	15.81M	489K	4.45M	4.56M
Total Assets+	47.28M	71.53M	74.44M	71.37M	69.45M	35.14M	33.27M	33.5M	33.6M	26.36M
Asset Turnover	-	-	0.03x	0.06x	0.07x	0.00x	0.01x	0.00x	0.00x	-
Asset Growth %	7.12%	0.51%	0.04%	-0.04%	-0.03%	-0.49%	-0.05%	0.01%	0%	-0.22%
Total Current Liabilities+	3.32M	4.03M	3.83M	11.8M	9.81M	3.45M	4.08M	12.31M	4.61M	8.18M
Accounts Payable	3.19M	1.57M	1.44M	2.09M	4.83M	1.55M	685K	1.07M	1.84M	1.23M
Days Payables Outstanding	5.86K	704.02	54.94	33.48	71.07	103.45	35.63	99.11	106.68	62.09
Short-Term Debt	44.97K	307K	405K	4.39M	848K	29K	0	5.9M	35K	3.54M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	-369	177K	1.52M	2.73M	1.75M	774K	0	4.61M	0	0
Current Ratio	9.63x	6.79x	6.70x	1.93x	2.80x	2.42x	3.05x	1.89x	3.97x	0.57x
Quick Ratio	9.63x	6.78x	6.38x	1.86x	2.68x	2.10x	3.02x	1.86x	3.77x	0.54x
Cash Conversion Cycle	-	-	146.64	38.26	1.27K	77.42	2.48K	1000K	9.69K	-
Total Non-Current Liabilities+	10.29M	10.51M	11.64M	9.48M	10.05M	545K	1.66M	275K	2.92M	1.94M
Long-Term Debt	9.22M	9.54M	10.16M	8.6M	8.4M	303K	0	0	2.92M	0
Capital Lease Obligations	0	0	11K	110K	861K	242K	330K	275K	0	446K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.07M	963K	1.47M	772K	790K	0	1.33M	0	0	1.49M
Total Liabilities	13.61M	14.54M	15.48M	21.28M	19.86M	4M	5.74M	12.59M	7.54M	10.12M
Total Debt+	9.27M	9.85M	10.58M	13.22M	10.66M	1.19M	718K	6.48M	3.23M	4.27M
Net Debt	-10.87M	-15.61M	-12.22M	-7.67M	3.09M	-5.34M	-7.42M	-601K	-13.29M	192K
Debt / Equity	0.28x	0.17x	0.18x	0.26x	0.22x	0.04x	0.03x	0.31x	0.12x	0.26x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-4.83x	-20.28x	-14.12x	-10.74x	-11.73x	-9.50x	-831.67x	-124.53x	-39.39x	-41.55x
Total Equity+	33.67M	56.99M	58.97M	50.09M	49.59M	31.14M	27.53M	20.92M	26.06M	16.24M
Equity Growth %	44.76%	0.69%	0.03%	-0.15%	-0.01%	-0.37%	-0.12%	-0.24%	0.25%	-0.38%
Book Value per Share	801.14	746.57	581.13	293.31	189.76	102.33	78.66	55.18	55.50	25.30
Total Shareholders' Equity	33.67M	56.99M	58.97M	50.09M	49.59M	31.14M	27.53M	20.92M	26.06M	16.24M
Common Stock	14.14K	18K	113.81M	39K	58K	64K	70K	79K	108K	8K
Retained Earnings	-14.71M	-28.26M	-54.84M	-95.1M	-139.89M	-165.65M	-183.85M	-199.28M	-223.22M	-247.77M
Treasury Stock	0	0	0	0	0	0	0	0	-516K	-192K
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-1.48M	-11.12M	-19M	-26.32M	-25.18M	-11.03M	-7.62M	-10.15M	-3.19M	-13.63M
Operating CF Margin %	-	-	-9.1%	-5.92%	-5.17%	-102.12%	-44.02%	-2537%	-127.72%	-
Operating CF Growth %	-0.3%	-6.53%	-0.71%	-0.39%	0.04%	0.56%	0.31%	-0.33%	0.69%	-3.27%
Net Income	-12.33M	-13.56M	-26.58M	-40.25M	-44.8M	-25.76M	-18.19M	-15.43M	-23.94M	-24.55M
Depreciation & Amortization	198.91K	815K	3.07M	3.4M	4.08M	2.41M	1.32M	1.06M	1.27M	1.27M
Stock-Based Compensation	300.77K	1.06M	1.08M	1.2M	4.21M	3.57M	0	2.25M	2.53M	2.74M
Deferred Taxes	5.84M	138K	2.94M	1.45M	6.02M	0	0	0	0	0
Other Non-Cash Items	1.23M	459K	1.09M	2.67M	7.68M	13.07M	8.45M	956K	17.52M	4.7M
Working Capital Changes	3.29M	-36K	-609K	5.21M	-2.37M	-4.32M	808K	1.01M	-583K	2.21M
Change in Receivables	0	170K	-882K	157K	481K	212K	-237K	120K	-55K	67K
Change in Inventory	0	-59K	-1.64M	295K	-492K	166K	822K	-155K	-651K	396K
Change in Payables	3.15M	-176K	926K	472K	823K	-2M	8K	22K	139K	-21K
Cash from Investing+	-25.04M	-19.06M	-8.65M	-3.93M	-10.57M	6.63M	-2.23M	-3.42M	-9.81M	-11.64M
Capital Expenditures	-7.93M	-26.71M	-9.43M	-3.69M	-13.07M	-3.37M	-2.35M	-4.77M	-9.88M	-12.16M
CapEx % of Revenue	-	-	4.52%	0.83%	2.68%	31.18%	13.58%	1192.75%	395.32%	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-17.11M	7.65M	783K	-236K	2.5M	10M	0	1.85M	70K	522K
Cash from Financing+	42.12M	35.5M	24.99M	28.35M	22.43M	3.35M	11.45M	12.51M	22.45M	12.82M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-189	0	0	0	0	0	553K	108K	-1.22M	-923K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-9.41M	-37.83M	-28.44M	-30.01M	-38.25M	-14.4M	-9.96M	-14.92M	-13.08M	-25.79M
FCF Margin %	-	-	-13.62%	-6.75%	-7.85%	-133.3%	-57.6%	-3729.75%	-523.04%	-
FCF Growth %	-4.77%	-3.02%	0.25%	-0.06%	-0.27%	0.62%	0.31%	-0.5%	0.12%	-0.97%
FCF per Share	-223.82	-495.61	-280.25	-175.74	-146.38	-47.31	-28.47	-39.36	-27.84	-40.17
FCF Conversion (FCF/Net Income)	0.12x	0.82x	0.71x	0.65x	0.56x	0.43x	0.42x	0.66x	0.13x	0.56x
Interest Paid	103.08K	330K	699K	668K	697K	1.04M	0	84K	480K	333K
Taxes Paid	1.6K	1K	2K	2K	2K	2K	0	2K	0	3K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-74.97%	-29.91%	-45.85%	-73.82%	-89.88%	-63.82%	-62.02%	-63.7%	-101.91%	-116.08%
Return on Invested Capital (ROIC)	-36.22%	-30.29%	-42.31%	-62.29%	-64.35%	-29.42%	-57.06%	-57.75%	-110.9%	-122.46%
Gross Margin	-	-	-356.94%	-411.6%	-408.8%	-4970.37%	-3956.07%	-98875%	-25028%	-
Net Margin	-	-	-1272.99%	-904.79%	-919.06%	-23853.7%	-10516.18%	-385775%	-95752%	-
Debt / Equity	0.28x	0.17x	0.18x	0.26x	0.22x	0.04x	0.03x	0.31x	0.12x	0.26x
Interest Coverage	-4.83x	-20.28x	-14.12x	-10.74x	-11.73x	-9.50x	-831.67x	-124.53x	-39.39x	-41.55x
FCF Conversion	0.12x	0.82x	0.71x	0.65x	0.56x	0.43x	0.42x	0.66x	0.13x	0.56x
Revenue Growth	-	-	-	113.07%	9.55%	-97.78%	60.19%	-97.69%	525%	-100%

Frequently Asked Questions

Growth & Financials

Aqua Metals, Inc. (AQMS) saw revenue decline by 100.0% over the past year.

Aqua Metals, Inc. (AQMS) reported a net loss of $25.6M for fiscal year 2024.

Dividend & Returns

Aqua Metals, Inc. (AQMS) has a return on equity (ROE) of -116.1%. Negative ROE indicates the company is unprofitable.

Aqua Metals, Inc. (AQMS) had negative free cash flow of $11.0M in fiscal year 2024, likely due to heavy capital investments.