Aspen Aerogels, Inc. (ASPN) Financial Ratios
17 years of historical data (2009–2025) · Industrials · Construction
EV/EBITDA
N/A
—
5yr avg: 11.79
30Y Low11.8·High29.3
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↓
1.79
↓-49% vs avg
5yr avg: 3.53
30Y Low0.7·High11.8
ROE
↓
-91.6%
↑-177% vs avg
5yr avg: -33.1%
30Y Low-303%·High2%
Debt/EBITDA
N/A
—
5yr avg: 2.50
30Y Low0.0·High2.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ASPN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Aspen Aerogels, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $422M | $234M | $954M | $1.1B | $464M | $1.5B | $440M | $187M | $51M | $114M | $96M |
| Enterprise Value | $409M | $221M | $931M | $1.1B | $302M | $1.5B | $432M | $192M | $51M | $107M | $78M |
| P/E Ratio → | -1.08 | — | 69.88 | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.56 | 0.86 | 2.11 | 4.59 | 2.57 | 12.46 | 4.39 | 1.34 | 0.48 | 1.02 | 0.81 |
| P/B Ratio | 1.79 | 0.99 | 1.55 | 2.25 | 1.04 | 11.80 | 6.49 | 3.17 | 0.72 | 1.13 | 0.83 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 12.85 | 7.12 | 20.95 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
ASPN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.81 | 2.06 | 4.59 | 1.68 | 11.95 | 4.31 | 1.38 | 0.49 | 0.96 | 0.66 |
| EV / EBITDA | — | — | 11.79 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | 0.04 | 34.40 | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
ASPN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Aspen Aerogels, Inc. earns an operating margin of -19.0%, below the Industrials sector average of 4.9%. Operating margins have expanded from -20.6% to -19.0% over the past 3 years, signaling improving operational efficiency. A negative ROE of -91.6% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.0% | 17.0% | 40.4% | 23.8% | 2.8% | 8.2% | 14.6% | 18.9% | 12.1% | 16.7% | 19.8% |
| Operating Margin | -19.0% | -19.0% | 12.0% | -20.6% | -43.9% | -33.4% | -21.5% | -10.2% | -32.5% | -17.1% | -9.5% |
| Net Profit Margin | -143.7% | -143.7% | 3.0% | -19.2% | -45.9% | -30.5% | -21.7% | -10.5% | -33.0% | -17.3% | -10.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -91.6% | -91.6% | 2.4% | -9.8% | -28.7% | -37.8% | -34.4% | -22.5% | -40.2% | -17.8% | -10.1% |
| ROA | -59.8% | -59.8% | 1.7% | -6.8% | -20.0% | -26.5% | -21.7% | -14.4% | -30.9% | -14.9% | -8.8% |
| ROIC | -9.5% | -9.5% | 7.6% | -9.6% | -33.7% | -48.0% | -26.2% | -15.7% | -30.8% | -15.0% | -9.0% |
| ROCE | -9.1% | -9.1% | 7.7% | -8.3% | -22.3% | -35.3% | -27.6% | -19.0% | -38.1% | -17.5% | -9.4% |
ASPN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $157M exceeds total debt of $144M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 0.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.61 | 0.32 | 0.28 | 0.27 | 0.12 | 0.12 | 0.14 | 0.06 | 0.04 | 0.00 |
| Debt / EBITDA | — | — | 2.50 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.06 | -0.04 | -0.00 | -0.36 | -0.48 | -0.12 | 0.08 | 0.01 | -0.07 | -0.16 |
| Net Debt / EBITDA | — | — | -0.30 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 0.94 | 0.94 | 2.26 | -7.60 | -15.19 | -160.98 | -89.87 | -34.87 | -64.73 | -103.44 | -76.33 |
Net cash position: cash ($157M) exceeds total debt ($144M)
ASPN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Aspen Aerogels, Inc.'s current ratio of 3.90x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 3.29x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 3.41x to 3.90x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.90 | 3.90 | 3.72 | 3.41 | 4.68 | 3.07 | 3.38 | 1.50 | 1.61 | 2.21 | 2.77 |
| Quick Ratio | 3.29 | 3.29 | 3.29 | 2.91 | 4.40 | 2.74 | 2.44 | 1.22 | 1.30 | 1.80 | 2.06 |
| Cash Ratio | 2.53 | 2.53 | 2.01 | 1.79 | 3.56 | 2.09 | 1.18 | 0.12 | 0.14 | 0.50 | 1.00 |
| Asset Turnover | — | 0.67 | 0.51 | 0.34 | 0.28 | 0.66 | 1.03 | 1.35 | 1.05 | 0.90 | 0.87 |
| Inventory Turnover | 5.89 | 5.89 | 5.67 | 4.64 | 7.78 | 9.32 | 6.54 | 12.90 | 12.53 | 10.43 | 7.34 |
| Days Sales Outstanding | — | 47.49 | 87.97 | 107.02 | 116.06 | 61.30 | 57.14 | 84.47 | 89.41 | 87.51 | 54.36 |
ASPN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Aspen Aerogels, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 1.4% | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 0.3% | 0.2% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 0.3% | 0.2% |
| Shares Outstanding | — | $83M | $80M | $69M | $39M | $30M | $26M | $24M | $24M | $23M | $23M |
Peer Comparison
Compare ASPN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ASPNYou | $422M | -1.1 | — | — | 17.0% | -19.0% | -91.6% | -9.5% | — |
 KALU | $3B | 26.0 | 12.7 | — | 9.5% | 5.7% | 15.1% | 7.8% | 3.6 |
 UFPI | $5B | 16.8 | 7.7 | 17.2 | 16.8% | 5.8% | 9.3% | 11.4% | 0.4 |
 MTRN | $4B | 53.4 | 24.7 | 79.5 | 16.7% | 6.5% | 8.3% | 6.0% | 3.2 |
 OC | $10B | -19.5 | 6.7 | 10.2 | 28.5% | 17.0% | -11.6% | 12.9% | 2.6 |
 AWI | $7B | 23.3 | 17.2 | 28.6 | 40.6% | 26.6% | 37.2% | 24.9% | 1.2 |
 IBP | $6B | 22.3 | 13.4 | 19.4 | 34.0% | 13.0% | 37.5% | 20.7% | 2.1 |
 ROCK | $1B | 11.6 | 7.2 | 9.2 | 26.9% | 10.8% | 9.8% | 10.4% | 0.7 |
 JELD | $146M | -0.2 | 20.8 | — | 16.0% | -1.3% | -173.9% | -1.9% | 20.7 |
 TSLA | $1.5T | 381.3 | 146.4 | 248.4 | 18.0% | 4.6% | 4.8% | 4.5% | 0.8 |
 GM | $71B | 24.0 | 10.3 | 6.4 | 10.9% | 1.6% | 4.2% | 1.3% | 7.4 |
| Industrials Median | — | 25.5 | 13.8 | 20.7 | 32.7% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 16 years · Updated daily
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Start ComparisonASPN — Frequently Asked Questions
Quick answers to the most common questions about buying ASPN stock.
What is Aspen Aerogels, Inc.'s P/E ratio?
Aspen Aerogels, Inc.'s current P/E ratio is -1.1x. The historical average is 69.9x.
What is Aspen Aerogels, Inc.'s ROE?
Aspen Aerogels, Inc.'s return on equity (ROE) is -91.6%. The historical average is -62.6%.
Is ASPN stock overvalued?
Based on historical data, Aspen Aerogels, Inc. is trading at a P/E of -1.1x. Compare with industry peers and growth rates for a complete picture.
What are Aspen Aerogels, Inc.'s profit margins?
Aspen Aerogels, Inc. has 17.0% gross margin and -19.0% operating margin.