📊 ASPN Key Takeaways
Is Aspen Aerogels Inc. (ASPN) a Good Investment?
Aspen Aerogels faces severe profitability challenges despite explosive 3515% revenue growth, with operating and net losses of $378M and $390M respectively indicating fundamental execution problems. The company is burning cash operationally despite massive top-line expansion, suggesting unsustainable cost structure and inability to scale profitably. While strong liquidity and balance sheet provide a runway for restructuring, the deteriorating cash conversion and negative operating leverage present substantial downside risk.
Aspen Aerogels is showing exceptional top-line growth and solid liquidity, but the quality of that growth is weak because profitability remains deeply negative. The business generated positive operating cash flow and ended with strong cash balances, yet massive operating and net losses, negative returns on capital, and negative free cash flow indicate the model still needs substantial margin improvement to become fundamentally attractive.
Why Buy Aspen Aerogels Inc. Stock? ASPN Key Strengths
- Extraordinary revenue growth of 3515% YoY demonstrates strong market demand and market opportunity
- Solid balance sheet with $156.9M cash and 0.28x debt-to-equity ratio provides financial flexibility
- Strong liquidity position with 3.90x current ratio and 3.29x quick ratio ensures near-term solvency
- Revenue growth is extremely strong, indicating meaningful demand expansion or scaling
- Liquidity is healthy with $156.86M in cash, a 3.90x current ratio, and a 3.29x quick ratio
- Leverage is manageable with debt/equity of 0.28x and modest long-term debt relative to equity
ASPN Stock Risks: Aspen Aerogels Inc. Investment Risks
- Massive operating loss of -$378M with -139.5% operating margin indicates severe operational execution problems and unsustainable cost structure
- Negative free cash flow of -$4.6M despite $32.9M operating cash flow signals poor capital allocation and inability to fund growth organically
- Diluted EPS of -$4.73 shows per-share value destruction, with negative ROE of -165.4% and ROA of -95.8% indicating severe shareholder value erosion
- Scale of losses ($390M net income) approaching 150% of revenue suggests fundamental business model issues, not temporary scaling inefficiencies
- Operating margin of -139.5% and net margin of -143.7% show the company is far from sustainable profitability
- ROE of -165.4% and ROA of -95.8% indicate severe capital inefficiency
- Free cash flow remains negative and interest coverage is deeply negative, limiting financial resilience if losses persist
Key Metrics to Watch
- Path to operating profitability and timeline to positive operating margin above 5%
- Free cash flow conversion and whether company achieves positive FCF within 2-3 quarters
- Gross margin sustainability and whether operating leverage emerges as revenue scales
- Gross margin and operating margin improvement
- Free cash flow trend and cash burn sustainability
Aspen Aerogels Inc. (ASPN) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 3.90x current ratio provides a solid financial cushion.
ASPN Profit Margin, ROE & Profitability Analysis
ASPN vs Materials Sector: How Aspen Aerogels Inc. Compares
How Aspen Aerogels Inc. compares to Materials sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Aspen Aerogels Inc. Stock Overvalued? ASPN Valuation Analysis 2026
Based on fundamental analysis, Aspen Aerogels Inc. has mixed fundamental signals relative to the Materials sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Aspen Aerogels Inc. Balance Sheet: ASPN Debt, Cash & Liquidity
ASPN Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Aspen Aerogels Inc.'s revenue has grown significantly by 225% over the 5-year period, indicating strong business expansion. The most recent EPS of $-0.66 indicates the company is currently unprofitable.
ASPN Revenue Growth, EPS Growth & YoY Performance
ASPN Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $73.0M | -$1.8M | $0.03 |
| Q2 2025 | $78.0M | -$1.8M | $-0.11 |
| Q1 2025 | $78.7M | -$1.8M | $-0.02 |
| Q3 2024 | $60.8M | -$1.8M | $0.03 |
| Q2 2024 | $48.2M | -$1.8M | $0.19 |
| Q1 2024 | $45.6M | -$1.8M | $-0.02 |
| Q3 2023 | $36.7M | -$13.1M | $-0.19 |
| Q2 2023 | $45.6M | -$15.4M | $-0.22 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Aspen Aerogels Inc. Dividends, Buybacks & Capital Allocation
ASPN SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Aspen Aerogels Inc. (CIK: 0001145986)
📋 Recent SEC Filings
❓ Frequently Asked Questions about ASPN
What is the AI rating for ASPN?
Aspen Aerogels Inc. (ASPN) has a Combined AI Rating of SELL from Claude (SELL) and ChatGPT (SELL) with 84% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are ASPN's key strengths?
Claude: Extraordinary revenue growth of 3515% YoY demonstrates strong market demand and market opportunity. Solid balance sheet with $156.9M cash and 0.28x debt-to-equity ratio provides financial flexibility. ChatGPT: Revenue growth is extremely strong, indicating meaningful demand expansion or scaling. Liquidity is healthy with $156.86M in cash, a 3.90x current ratio, and a 3.29x quick ratio.
What are the risks of investing in ASPN?
Claude: Massive operating loss of -$378M with -139.5% operating margin indicates severe operational execution problems and unsustainable cost structure. Negative free cash flow of -$4.6M despite $32.9M operating cash flow signals poor capital allocation and inability to fund growth organically. ChatGPT: Operating margin of -139.5% and net margin of -143.7% show the company is far from sustainable profitability. ROE of -165.4% and ROA of -95.8% indicate severe capital inefficiency.
What is ASPN's revenue and growth?
Aspen Aerogels Inc. reported revenue of $271.1M.
Does ASPN pay dividends?
Aspen Aerogels Inc. does not currently pay dividends.
Where can I find ASPN SEC filings?
Official SEC filings for Aspen Aerogels Inc. (CIK: 0001145986) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is ASPN's EPS?
Aspen Aerogels Inc. has a diluted EPS of $-4.73.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is ASPN a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Aspen Aerogels Inc. has a SELL rating with 84% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is ASPN stock overvalued or undervalued?
Valuation metrics for ASPN: ROE of -165.4% (sector avg: 14%), net margin of -143.7% (sector avg: 10%). Compare these metrics with sector averages to assess valuation.
Should I buy ASPN stock in 2026?
Our dual AI analysis gives Aspen Aerogels Inc. a combined SELL rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is ASPN's free cash flow?
Aspen Aerogels Inc.'s operating cash flow is $32.9M, with capital expenditures of $37.4M. FCF margin is -1.7%.
How does ASPN compare to other Materials stocks?
Vs Materials sector averages: Net margin -143.7% (avg: 10%), ROE -165.4% (avg: 14%), current ratio 3.90 (avg: 1.6).