Aspen Aerogels share price today
Aspen Aerogels, Inc. · ASPN · Industrials · Building Products & Equipment · price as of the 4 November 2026 close, updated every trading day · results updated weekly · All US stock lists
Aspen Aerogels share price: $4.80 at the close on 4 November 2026, +24.4% in a year.
Aspen Aerogels, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer.
The main question: the share price moved +24.4% in a year while yearly earnings per share moved −2,883.4%. The difference came from the market paying a higher multiple.
The price has been between phases. Over the last four quarters, results have been deteriorating. What will decide it: whether earnings grow into a price that has already moved.
What is the Aspen Aerogels share price today?
Aspen Aerogels, Inc.'s share price was $4.80 at the close on 4 November 2026. That is 2.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between $3 and $6, and at that close it sat 54% of the way up from that low.
A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). The phase helps read everything below.
Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 1 week running.
Nov 2026: $4.80, 2.3% above its 200-day average.
- Price $4.80
- 50-day avg $5.23
- 200-day avg $4.69
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 11 Jul 2025 | $6.83 | – | – |
| 18 Jul 2025 | $7.23 | – | – |
| 25 Jul 2025 | $7.77 | – | – |
| 1 Aug 2025 | $7.60 | – | – |
| 8 Aug 2025 | $7.55 | – | – |
| 15 Aug 2025 | $7.25 | – | – |
| 22 Aug 2025 | $7.01 | – | – |
| 29 Aug 2025 | $6.84 | – | – |
| 5 Sep 2025 | $6.61 | – | – |
| 12 Sep 2025 | $6.59 | – | – |
| 19 Sep 2025 | $6.84 | $7.11 | – |
| 26 Sep 2025 | $7.10 | $7.16 | – |
| 3 Oct 2025 | $7.76 | $7.12 | – |
| 10 Oct 2025 | $7.97 | $7.16 | – |
| 17 Oct 2025 | $7.94 | $7.21 | – |
| 24 Oct 2025 | $8.50 | $7.29 | – |
| 31 Oct 2025 | $8.14 | $7.39 | – |
| 7 Nov 2025 | $3.86 | $7.30 | – |
| 14 Nov 2025 | $3.08 | $6.98 | – |
| 21 Nov 2025 | $3.10 | $6.62 | – |
| 28 Nov 2025 | $3.22 | $6.34 | – |
| 5 Dec 2025 | $3.54 | $5.98 | – |
| 12 Dec 2025 | $3.22 | $5.60 | – |
| 19 Dec 2025 | $2.96 | $5.08 | – |
| 26 Dec 2025 | $2.94 | $4.65 | – |
| 2 Jan 2026 | $2.89 | $4.24 | – |
| 9 Jan 2026 | $3.30 | $3.75 | – |
| 16 Jan 2026 | $3.47 | $3.33 | – |
| 23 Jan 2026 | $3.82 | $3.24 | – |
| 30 Jan 2026 | $3.37 | $3.26 | – |
| 6 Feb 2026 | $3.43 | $3.28 | – |
| 13 Feb 2026 | $3.53 | $3.30 | – |
| 20 Feb 2026 | $3.61 | $3.31 | – |
| 27 Feb 2026 | $3.12 | $3.30 | – |
| 6 Mar 2026 | $3.22 | $3.34 | – |
| 13 Mar 2026 | $3.65 | $3.38 | – |
| 20 Mar 2026 | $3.06 | $3.39 | – |
| 27 Mar 2026 | $3.30 | $3.39 | – |
| 2 Apr 2026 | $3.69 | $3.38 | – |
| 10 Apr 2026 | $3.34 | $3.38 | – |
| 17 Apr 2026 | $3.48 | $3.39 | – |
| 24 Apr 2026 | $3.50 | $3.39 | $5.04 |
| 1 May 2026 | $4.27 | $3.42 | $4.97 |
| 8 May 2026 | $5.04 | $3.54 | $4.89 |
| 15 May 2026 | $5.60 | $3.75 | $4.83 |
| 22 May 2026 | $5.79 | $3.96 | $4.77 |
| 29 May 2026 | $6.40 | $4.19 | $4.74 |
| 5 Jun 2026 | $5.64 | $4.47 | $4.72 |
| 12 Jun 2026 | $5.92 | $4.70 | $4.69 |
| 18 Jun 2026 | $6.32 | $4.88 | $4.67 |
| 26 Jun 2026 | $5.63 | $5.12 | $4.65 |
| 2 Jul 2026 | $5.58 | $5.32 | $4.64 |
| 10 Jul 2026 | $5.16 | $5.50 | $4.60 |
| 17 Jul 2026 | $5.13 | $5.62 | $4.55 |
| 24 Jul 2026 | $4.67 | $5.64 | $4.49 |
| 31 Jul 2026 | $4.63 | $5.55 | $4.40 |
| 7 Aug 2026 | $6.25 | $5.53 | $4.33 |
| 14 Aug 2026 | $5.85 | $5.52 | $4.28 |
| 21 Aug 2026 | $5.18 | $5.49 | $4.22 |
| 28 Aug 2026 | $4.93 | $5.41 | $4.22 |
| 4 Sep 2026 | $4.92 | $5.30 | $4.26 |
| 11 Sep 2026 | $4.91 | $5.21 | $4.29 |
| 18 Sep 2026 | $5.07 | $5.18 | $4.34 |
| 25 Sep 2026 | $5.22 | $5.19 | $4.38 |
| 2 Oct 2026 | $5.69 | $5.22 | $4.44 |
| 9 Oct 2026 | $5.65 | $5.34 | $4.51 |
| 16 Oct 2026 | $5.19 | $5.35 | $4.57 |
| 23 Oct 2026 | $5.52 | $5.28 | $4.62 |
| 30 Oct 2026 | $5.05 | $5.25 | $4.67 |
| 4 Nov 2026 | $4.80 | $5.23 | $4.69 |
Week by week since 2025: did it beat the S&P 500 over the past 13 weeks?
Ahead in 28 of 57 weeks
| Week | 13-week return vs S&P 500 |
|---|---|
| 11 Jul 2025 | no S&P 500 reading |
| 18 Jul 2025 | no S&P 500 reading |
| 25 Jul 2025 | no S&P 500 reading |
| 1 Aug 2025 | no S&P 500 reading |
| 8 Aug 2025 | no S&P 500 reading |
| 15 Aug 2025 | no S&P 500 reading |
| 22 Aug 2025 | no S&P 500 reading |
| 29 Aug 2025 | no S&P 500 reading |
| 5 Sep 2025 | no S&P 500 reading |
| 12 Sep 2025 | no S&P 500 reading |
| 19 Sep 2025 | no S&P 500 reading |
| 26 Sep 2025 | no S&P 500 reading |
| 3 Oct 2025 | no S&P 500 reading |
| 10 Oct 2025 | +12.0% |
| 17 Oct 2025 | +4.0% |
| 24 Oct 2025 | +3.1% |
| 31 Oct 2025 | −2.6% |
| 7 Nov 2025 | −54.2% |
| 14 Nov 2025 | −61.9% |
| 21 Nov 2025 | −57.9% |
| 28 Nov 2025 | −58.9% |
| 5 Dec 2025 | −52.4% |
| 12 Dec 2025 | −54.8% |
| 19 Dec 2025 | −59.3% |
| 26 Dec 2025 | −62.9% |
| 2 Jan 2026 | −64.8% |
| 9 Jan 2026 | −64.9% |
| 16 Jan 2026 | −60.4% |
| 23 Jan 2026 | −56.8% |
| 30 Jan 2026 | −60.1% |
| 6 Feb 2026 | −14.1% |
| 13 Feb 2026 | +13.1% |
| 20 Feb 2026 | +11.8% |
| 27 Feb 2026 | −3.5% |
| 6 Mar 2026 | −7.1% |
| 13 Mar 2026 | +16.2% |
| 20 Mar 2026 | +8.1% |
| 27 Mar 2026 | +20.4% |
| 2 Apr 2026 | +31.7% |
| 10 Apr 2026 | +3.3% |
| 17 Apr 2026 | −2.4% |
| 24 Apr 2026 | −12.0% |
| 1 May 2026 | +22.6% |
| 8 May 2026 | +40.1% |
| 15 May 2026 | +50.2% |
| 22 May 2026 | +52.2% |
| 29 May 2026 | +94.9% |
| 5 Jun 2026 | +65.5% |
| 12 Jun 2026 | +50.2% |
| 18 Jun 2026 | +91.4% |
| 26 Jun 2026 | +55.6% |
| 2 Jul 2026 | +37.7% |
| 10 Jul 2026 | +43.4% |
| 17 Jul 2026 | +42.7% |
| 24 Jul 2026 | +29.9% |
| 31 Jul 2026 | +4.8% |
| 7 Aug 2026 | +19.2% |
| 14 Aug 2026 | −0.6% |
| 21 Aug 2026 | −13.2% |
| 28 Aug 2026 | −24.7% |
| 4 Sep 2026 | −17.2% |
| 11 Sep 2026 | −20.1% |
| 18 Sep 2026 | −21.8% |
| 25 Sep 2026 | −13.1% |
| 2 Oct 2026 | −1.4% |
| 9 Oct 2026 | +6.4% |
| 16 Oct 2026 | −1.5% |
| 23 Oct 2026 | +15.4% |
| 30 Oct 2026 | +7.9% |
| 4 Nov 2026 | −22.4% |
Over the last 1 year the share price moved −30% while the S&P 500 moved +23%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.
This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.
What dividend does Aspen Aerogels pay?
Aspen Aerogels, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes.
Which stock lists is Aspen Aerogels on?
Aspen Aerogels is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list.
Is Aspen Aerogels profitable?
Aspen Aerogels, Inc. posted a net loss of $23.3 M in the Jun 2026 quarter. The full FY25 year was a loss of $390 M. That loss is 46.7% of the quarter's revenue. The same quarter a year earlier lost $9.1 M. 10 of the last 12 reported quarters were loss-making.
Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.
For the full year, FY25 profit was −$390 M (−3,012.5% on the year before).
FY25 profit −$390 M (−3,012.5% on the year before)
- Net profit −$390 M
| Quarter | Net profit |
|---|---|
| FY21 | −$37.1 M |
| FY22 | −$82.7 M |
| FY23 | −$45.8 M |
| FY24 | $13.4 M |
| FY25 | −$390 M |
Growth on a year earlier
- Growth on a year earlier −3,012.5%
| Quarter | Growth on a year earlier |
|---|---|
| FY21 | – |
| FY22 | – |
| FY23 | – |
| FY24 | – |
| FY25 | −3,012.5% |
Jun 2026: −$23.3 M
- Net profit (quarterly) −$23.3 M
| Quarter | Net profit (quarterly) |
|---|---|
| Sep 2023 | −$13.1 M |
| Dec 2023 | −$0.5 M |
| Mar 2024 | −$1.8 M |
| Jun 2024 | $16.8 M |
| Sep 2024 | −$13.0 M |
| Dec 2024 | $11.4 M |
| Mar 2025 | −$301 M |
| Jun 2025 | −$9.1 M |
| Sep 2025 | −$6.3 M |
| Dec 2025 | −$72.9 M |
| Mar 2026 | −$23.7 M |
| Jun 2026 | −$23.3 M |
Growth on a year earlier
- Growth on a year earlier −741.7%
| Quarter | Growth on a year earlier |
|---|---|
| Sep 2023 | – |
| Dec 2023 | – |
| Mar 2024 | – |
| Jun 2024 | – |
| Sep 2024 | – |
| Dec 2024 | – |
| Mar 2025 | – |
| Jun 2025 | −153.8% |
| Sep 2025 | – |
| Dec 2025 | −741.7% |
| Mar 2026 | – |
| Jun 2026 | – |
How much revenue does Aspen Aerogels make, and is it growing?
Aspen Aerogels, Inc. reported $49.8 M of revenue in the Jun 2026 quarter, −36.1% on the same quarter a year earlier. Over 4 years it has grown 22.2% a year on average. The last full year, FY25, came in at $271 M. The last four reported quarters add to $202 M.
Revenue is everything the company billed its customers in the period.
FY25 revenue was $271 M, −40.1% on the year before.
FY25 revenue $271 M (−40.1% on the year before), 22.2% a year over 4 years
- Revenue $271 M
| Quarter | Revenue |
|---|---|
| FY21 | $122 M |
| FY22 | $180 M |
| FY23 | $239 M |
| FY24 | $453 M |
| FY25 | $271 M |
Growth on a year earlier
- Growth on a year earlier −40.1%
| Quarter | Growth on a year earlier |
|---|---|
| FY21 | – |
| FY22 | 48.3% |
| FY23 | 32.4% |
| FY24 | 89.6% |
| FY25 | −40.1% |
Jun 2026: $49.8 M (−36.1% on a year earlier)
- Revenue (quarterly) $49.8 M
| Quarter | Revenue (quarterly) |
|---|---|
| Sep 2023 | $60.8 M |
| Dec 2023 | $84.2 M |
| Mar 2024 | $94.5 M |
| Jun 2024 | $118 M |
| Sep 2024 | $117 M |
| Dec 2024 | $123 M |
| Mar 2025 | $78.7 M |
| Jun 2025 | $78.0 M |
| Sep 2025 | $73.0 M |
| Dec 2025 | $41.3 M |
| Mar 2026 | $37.9 M |
| Jun 2026 | $49.8 M |
Growth on a year earlier
- Growth on a year earlier −36.1%
| Quarter | Growth on a year earlier |
|---|---|
| Sep 2023 | 65.5% |
| Dec 2023 | 41.3% |
| Mar 2024 | 107.3% |
| Jun 2024 | 144.5% |
| Sep 2024 | 93.1% |
| Dec 2024 | 46.2% |
| Mar 2025 | −16.7% |
| Jun 2025 | −33.7% |
| Sep 2025 | −37.8% |
| Dec 2025 | −66.4% |
| Mar 2026 | −51.9% |
| Jun 2026 | −36.1% |
Recent pace: the last four quarters grew −48.0% on average, against 22.2% a year over the longer run, so this year is growing slower than its own long-run rate.
Is growth speeding up? Revenue over the last 12 months grew −49.1%, against −24.8% a year over the last 8 quarters (rolling over).
How much of every $100 of sales does Aspen Aerogels keep?
Aspen Aerogels, Inc.'s operating margin was −29.2% in the Jun 2026 quarter, 30.1 percentage points lower than the same quarter a year ago. Across 5 years it has been between −43.9% and 13.7%. The latest quarter is within that range.
Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.
Why the margin moved: operating margin changed −30.1 percentage points on the year while gross margin changed −15.2 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.
FY25: −10.8%, within a range of −43.9% to 13.7% over 5 years
- Operating margin −10.8%
| Quarter | Operating margin |
|---|---|
| FY21 | −33.4% |
| FY22 | −43.9% |
| FY23 | −20.6% |
| FY24 | 13.7% |
| FY25 | −10.8% |
Change on the year before (points)
- Change on the year before (points) −24.5 pts
| Quarter | Change on the year before (points) |
|---|---|
| FY21 | – |
| FY22 | −10.5 pts |
| FY23 | +23.3 pts |
| FY24 | +34.3 pts |
| FY25 | −24.5 pts |
Jun 2026: operating margin −29.2% (−30.1 points on a year earlier)
- Operating margin −29.2%
| Quarter | Operating margin |
|---|---|
| Sep 2023 | −24.1% |
| Dec 2023 | 1.6% |
| Mar 2024 | 8.9% |
| Jun 2024 | 17% |
| Sep 2024 | 14.8% |
| Dec 2024 | 12.6% |
| Mar 2025 | −3.7% |
| Jun 2025 | 0.9% |
| Sep 2025 | −2.4% |
| Dec 2025 | −61.2% |
| Mar 2026 | −53.9% |
| Jun 2026 | −29.2% |
Change on a year earlier (points)
- Change on a year earlier (points) −30.1 pts
| Quarter | Change on a year earlier (points) |
|---|---|
| Sep 2023 | +53.0 pts |
| Dec 2023 | +17.8 pts |
| Mar 2024 | +50.4 pts |
| Jun 2024 | +52.4 pts |
| Sep 2024 | +38.9 pts |
| Dec 2024 | +11.0 pts |
| Mar 2025 | −12.6 pts |
| Jun 2025 | −16.1 pts |
| Sep 2025 | −17.2 pts |
| Dec 2025 | −73.8 pts |
| Mar 2026 | −50.2 pts |
| Jun 2026 | −30.1 pts |
Is Aspen Aerogels' profit turning into cash?
Aspen Aerogels, Inc.'s cash-flow history is too short to judge how much of its profit turns into cash. In FY25 it brought in $32.9 M of operating cash against −$390 M of profit. After $37.4 M of spending on assets, free cash was −$4.6 M: it spent more than its operations brought in.
The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.
Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.
FY25: operating cash $32.9 M against profit −$390 M
- Operating cash $32.9 M
- Net profit −$390 M
- Free cash −$4.6 M
| Quarter | Operating cash | Net profit | Free cash |
|---|---|---|---|
| FY21 | −$18.6 M | −$37.1 M | −$32.4 M |
| FY22 | −$94.4 M | −$82.7 M | −$272 M |
| FY23 | −$42.6 M | −$45.8 M | – |
| FY24 | $45.5 M | $13.4 M | −$40.7 M |
| FY25 | $32.9 M | −$390 M | −$4.6 M |
Jun 2026: operating cash −$16.2 M
- Operating cash (quarterly) −$16.2 M
| Quarter | Operating cash (quarterly) |
|---|---|
| Sep 2023 | −$7.5 M |
| Dec 2023 | −$2.8 M |
| Mar 2024 | −$17.7 M |
| Jun 2024 | $6.8 M |
| Sep 2024 | $20.8 M |
| Dec 2024 | $35.7 M |
| Mar 2025 | $5.6 M |
| Jun 2025 | −$3.9 M |
| Sep 2025 | $15.0 M |
| Dec 2025 | $16.1 M |
| Mar 2026 | $34.1 M |
| Jun 2026 | −$16.2 M |
Operating cash as % of profit
- Operating cash as % of profit 314%
| Quarter | Operating cash as % of profit |
|---|---|
| Sep 2023 | – |
| Dec 2023 | – |
| Mar 2024 | – |
| Jun 2024 | 41% |
| Sep 2024 | – |
| Dec 2024 | 314% |
| Mar 2025 | – |
| Jun 2025 | – |
| Sep 2025 | – |
| Dec 2025 | – |
| Mar 2026 | – |
| Jun 2026 | – |
What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.
Where does Aspen Aerogels' cash go?
Aspen Aerogels, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $299 M on assets over the last 3 years. Averaged over those years that is 36.8% of FY25 revenue a year.
Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.
Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.
Spending on assets: $299 M over the last 3 years.
FY25: capex $37.4 M, down from the year before
- Capex $37.4 M
| Quarter | Capex |
|---|---|
| FY21 | $13.8 M |
| FY22 | $178 M |
| FY23 | $175 M |
| FY24 | $86.3 M |
| FY25 | $37.4 M |
Jun 2026: capex $1.8 M in the quarter
- Capex (quarterly) $1.8 M
| Quarter | Capex (quarterly) |
|---|---|
| Sep 2023 | $32.3 M |
| Dec 2023 | $27.8 M |
| Mar 2024 | $25.9 M |
| Jun 2024 | $24.8 M |
| Sep 2024 | $20.8 M |
| Dec 2024 | $14.8 M |
| Mar 2025 | $13.0 M |
| Jun 2025 | $12.9 M |
| Sep 2025 | $9.1 M |
| Dec 2025 | $2.5 M |
| Mar 2026 | $1.4 M |
| Jun 2026 | $1.8 M |
Free cash
- Free cash −$18.0 M
| Quarter | Free cash |
|---|---|
| Sep 2023 | −$39.8 M |
| Dec 2023 | −$30.6 M |
| Mar 2024 | −$43.6 M |
| Jun 2024 | −$18.0 M |
| Sep 2024 | −$0.1 M |
| Dec 2024 | $20.9 M |
| Mar 2025 | −$7.4 M |
| Jun 2025 | −$16.8 M |
| Sep 2025 | $5.9 M |
| Dec 2025 | $13.7 M |
| Mar 2026 | $32.8 M |
| Jun 2026 | −$18.0 M |
In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it.
What is Aspen Aerogels' P/E ratio, and how does it compare with its own history?
Aspen Aerogels, Inc. has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Aspen Aerogels, Inc. at 1.5× its FY25 revenue of $271 M. The P/E comes back here once profit turns positive.
P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.
Why the multiple is where it is: over the past year earnings per share moved −2,883.4% while the price moved +24.4%. The price did better than earnings, which pushed the multiple up within its own range.
Is the Aspen Aerogels business getting better or worse?
Aspen Aerogels, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps.
Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.
Growth year by year: revenue −40.1% in FY25, profit −3,012.5%
- Revenue growth −40.1%
| Quarter | Revenue growth |
|---|---|
| FY21 | – |
| FY22 | 48.3% |
| FY23 | 32.4% |
| FY24 | 89.6% |
| FY25 | −40.1% |
Profit growth, EPS growth
- Profit growth −300%
- EPS growth −300%
| Quarter | Profit growth | EPS growth |
|---|---|---|
| FY21 | – | – |
| FY22 | – | – |
| FY23 | – | – |
| FY24 | – | – |
| FY25 | −300% | −300% |
Three growth lines over twelve quarters: revenue rolling over
- Revenue −49.1%
| Quarter | Revenue |
|---|---|
| Sep 2023 | 40.7% |
| Dec 2023 | 32.4% |
| Mar 2024 | 53.4% |
| Jun 2024 | 88% |
| Sep 2024 | 93.3% |
| Dec 2024 | 89.6% |
| Mar 2025 | 51.9% |
| Jun 2025 | 11.2% |
| Sep 2025 | −14.7% |
| Dec 2025 | −40.1% |
| Mar 2026 | −47.3% |
| Jun 2026 | −49.1% |
Profit, EPS
- Profit −300%
- EPS −300%
| Quarter | Profit | EPS |
|---|---|---|
| Sep 2023 | – | – |
| Dec 2023 | – | – |
| Mar 2024 | – | – |
| Jun 2024 | – | – |
| Sep 2024 | – | – |
| Dec 2024 | – | – |
| Mar 2025 | – | – |
| Jun 2025 | −153.8% | – |
| Sep 2025 | – | – |
| Dec 2025 | −300% | −300% |
| Mar 2026 | – | – |
| Jun 2026 | – | – |
ROCE: the return line, worked out each quarter
- ROCE 8.7%
| Quarter | ROCE |
|---|---|
| Sep 2023 | −14.2% |
| Dec 2023 | −8.3% |
| Mar 2024 | −3.7% |
| Jun 2024 | 2.5% |
| Sep 2024 | 7.7% |
| Dec 2024 | 8.7% |
| Mar 2025 | – |
| Jun 2025 | – |
| Sep 2025 | – |
| Dec 2025 | – |
| Mar 2026 | – |
| Jun 2026 | – |
Why it matters: with too little history, we say so rather than guess a direction.
One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.
There are fewer than eight usable quarters, so this page does not guess a direction from so little history.
Compound annual growth rate (%)
Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.
| Measure | 1yr | 3yr | 5yr | 10yr |
|---|---|---|---|---|
| Revenue | −40.1% | +14.5% | — | — |
| Stock price | +24.4% | — | — | — |
How much does Aspen Aerogels earn on its capital?
Aspen Aerogels, Inc. earned a ROE of −165% in FY25. Its return on capital used (ROIC) is 54.9 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −143.7% net margin and 0.67× asset turnover (sales divided by assets).
Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.
Why the return is what it is (FY25): a −143.7% net margin × 0.67× asset turnover × 1.73× leverage (assets divided by equity) ≈ −166.6% on equity. The margin does its share; borrowing is a big part of it.
The key test, return on capital used minus the cost of capital: −37.1% − 17.8% = −54.9 percentage points. The 17.8% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.
The −37.1% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at −7.2%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.
FY25: ROE −165%, the full history
- ROE −165.4%
- ROIC (annual) −7.2%
- Cost of capital 17.8%
| Quarter | ROE | ROIC (annual) | Cost of capital |
|---|---|---|---|
| FY21 | −28.9% | −64.1% | 17.8% |
| FY22 | −18.5% | −45% | 17.8% |
| FY23 | −9.4% | −12.7% | 17.8% |
| FY24 | 2.2% | 10.2% | 17.8% |
| FY25 | −165.4% | −7.2% | 17.8% |
Jun 2026: ROIC −10.4% (last 12 months) against a 17.8% cost of capital
- ROIC (12 months) −10.4%
- ROE (12 months) −42.2%
- Cost of capital 17.8%
| Quarter | ROIC (12 months) | ROE (12 months) | Cost of capital |
|---|---|---|---|
| Sep 2023 | −4.5% | −14.5% | 17.8% |
| Dec 2023 | −3.4% | −12.6% | 17.8% |
| Mar 2024 | 0.3% | −0.5% | 17.8% |
| Jun 2024 | 1.7% | −1.5% | 17.8% |
| Sep 2024 | 3.4% | 13.3% | 17.8% |
| Dec 2024 | 3% | −10.1% | 17.8% |
| Mar 2025 | 2.6% | 8.1% | 17.8% |
| Jun 2025 | −0.7% | −259.3% | 17.8% |
| Sep 2025 | 0.2% | −11.6% | 17.8% |
| Dec 2025 | −0.6% | −8.2% | 17.8% |
| Mar 2026 | −9.6% | −107.8% | 17.8% |
| Jun 2026 | −10.4% | −42.2% | 17.8% |
Does Aspen Aerogels have too much debt?
Aspen Aerogels, Inc. has total debt of $125 M against shareholder equity of $192 M as of Jun 2026, so its debt is 0.65× its equity. Year by year, that ratio went from 0.12 in FY21 to 0.61 in FY25. Keep that borrowing in mind when reading the returns on this page.
Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.
FY25: debt $144 M, 0.61× equity
- Total debt $144 M
| Quarter | Total debt |
|---|---|
| FY21 | $15.2 M |
| FY22 | $119 M |
| FY23 | $139 M |
| FY24 | $197 M |
| FY25 | $144 M |
Debt-to-equity
- Debt-to-equity 0.61×
| Quarter | Debt-to-equity |
|---|---|
| FY21 | 0.12× |
| FY22 | 0.27× |
| FY23 | 0.28× |
| FY24 | 0.32× |
| FY25 | 0.61× |
Jun 2026: debt $125 M, debt-to-equity 0.65
- Total debt (quarterly) $125 M
| Quarter | Total debt (quarterly) |
|---|---|
| Sep 2023 | $136 M |
| Dec 2023 | $139 M |
| Mar 2024 | $146 M |
| Jun 2024 | $151 M |
| Sep 2024 | $204 M |
| Dec 2024 | $197 M |
| Mar 2025 | $181 M |
| Jun 2025 | $173 M |
| Sep 2025 | $150 M |
| Dec 2025 | $144 M |
| Mar 2026 | $129 M |
| Jun 2026 | $125 M |
Debt-to-equity
- Debt-to-equity 0.65×
| Quarter | Debt-to-equity |
|---|---|
| Sep 2023 | 0.33× |
| Dec 2023 | 0.28× |
| Mar 2024 | 0.30× |
| Jun 2024 | 0.29× |
| Sep 2024 | 0.40× |
| Dec 2024 | 0.32× |
| Mar 2025 | 0.57× |
| Jun 2025 | 0.56× |
| Sep 2025 | 0.49× |
| Dec 2025 | 0.61× |
| Mar 2026 | 0.60× |
| Jun 2026 | 0.65× |
What is the Aspen Aerogels shareholding pattern?
8.8% of Aspen Aerogels, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 6.4 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead.
There is no quarter-by-quarter list of owners here, so we look at short interest: the share of tradable shares held in short positions, which gain if the price falls.
It is a single reading at one point in time; we do not have its history.
Why it is at this level: the figure does not say who has the short positions or why, so we show the level without guessing the story.
How far is Aspen Aerogels from balance-sheet trouble?
For Aspen Aerogels, Inc., the Z-score is −2.19. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure.
The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.
Why it matters: a Z-score of −2.19 is inside the danger zone, so the balance sheet is a real risk.
How does Aspen Aerogels rank in its industry?
30.1 out of 100, rank 26 of 29 in Building Products & Equipment, with 64% of the evidence available.
Aspen Aerogels, Inc. scores 30.1 out of 100 against the 29 companies it is compared with in Building Products & Equipment, ranking 26. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
The four parts add up to the total exactly: 6.7 + 3 + 8.8 + 11.6 = 30.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here.
What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.
Which companies is Aspen Aerogels compared with?
Aspen Aerogels ranks 26 of 29 Building Products & Equipment companies on the 4-Factor Sector Score, with 30.1 out of 100.
- 1Masco CorporationMAS · turning · Most evidence points up · 81% evidence72.1out of 100
How the score adds up
Growth & earnings 20.3/35 · Revenue -0.6% · Profit 9.8% · Operating margin change 3.5 points · 83% evidenceCapital efficiency 21.4/25 · ROCE 36.1% · Operating margin 23.6% · 76% evidenceValuation 11.9/20 · P/E 18.6× · PEG 1.25 · 65% evidenceRelative strength 18.5/20 · Lead over its industry 23.6% · Lead over S&P 500 16.3% · 1 year 40.1% · 100% evidence · 3 of 12 weeks aheadExact sum: 20.3 + 21.4 + 11.9 + 18.5 = 72.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 2Griffon CorporationGFF · turning · Most evidence points up · 74% evidence66.0out of 100
How the score adds up
Growth & earnings 17.6/35 · Revenue 2% · Profit 100% · Operating margin change -1.4 points · 62% evidenceCapital efficiency 19.2/25 · ROCE 27.3% · Operating margin 23.6% · 76% evidenceValuation 13.9/20 · P/E 25× · PEG 0.53 · 65% evidenceRelative strength 15.3/20 · Lead over its industry 23% · Lead over S&P 500 15.9% · 1 year 49% · 100% evidence · 4 of 12 weeks aheadExact sum: 17.6 + 19.2 + 13.9 + 15.3 = 66 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 3Apogee Enterprises, Inc.APOG · turning · Most evidence points up · 85% evidence65.7out of 100
How the score adds up
Growth & earnings 20.2/35 · Revenue 3% · Profit 54.5% · Operating margin change 0.1 points · 95% evidenceCapital efficiency 11.1/25 · ROCE 11.9% · Operating margin 8.8% · 76% evidenceValuation 15.7/20 · P/E 12.5× · PEG 0.23 · 65% evidenceRelative strength 18.7/20 · Lead over its industry 24% · Lead over S&P 500 16.6% · 1 year 39.3% · 100% evidence · 3 of 12 weeks aheadExact sum: 20.2 + 11.1 + 15.7 + 18.7 = 65.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 4Carlisle Companies IncorporatedCSL · turning · Evidence leans up · 81% evidence64.0out of 100
How the score adds up
Growth & earnings 13.2/35 · Revenue 1.9% · Profit -10.2% · Operating margin change -0.5 points · 83% evidenceCapital efficiency 19.0/25 · ROCE 19.1% · Operating margin 22.8% · 76% evidenceValuation 15.4/20 · P/E 20.3× · PEG 0.21 · 65% evidenceRelative strength 16.4/20 · Lead over its industry 14% · Lead over S&P 500 6.9% · 1 year 25.3% · 100% evidence · 1 of 12 weeks aheadExact sum: 13.2 + 19 + 15.4 + 16.4 = 64 · What this means: Relative strength against the index is 6.9%, and revenue and profit growth are weak. - 5Johnson Controls International plcJCI · losing its lead · Evidence leans up · 81% evidence62.1out of 100
How the score adds up
Growth & earnings 25.1/35 · Revenue 6.8% · Profit 60.7% · Operating margin change 2.2 points · 83% evidenceCapital efficiency 13.7/25 · ROCE 13.2% · Operating margin 15.9% · 76% evidenceValuation 14.2/20 · P/E 24.9× · PEG 0.47 · 65% evidenceRelative strength 9.1/20 · Lead over its industry 2.6% · Lead over S&P 500 -3.3% · 1 year 14.9% · 100% evidence · 2 of 12 weeks aheadExact sum: 25.1 + 13.7 + 14.2 + 9.1 = 62.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 6Trex Company, Inc.TREX · turning · Evidence leans up · 81% evidence58.8out of 100
How the score adds up
Growth & earnings 11.4/35 · Revenue 6.8% · Profit -11.1% · Operating margin change -5.8 points · 83% evidenceCapital efficiency 19.6/25 · ROCE 20.7% · Operating margin 20.6% · 76% evidenceValuation 7.8/20 · P/E 29.3× · PEG 1.96 · 65% evidenceRelative strength 20.0/20 · Lead over its industry 35.7% · Lead over S&P 500 27.9% · 1 year 73.3% · 100% evidence · 6 of 12 weeks aheadExact sum: 11.4 + 19.6 + 7.8 + 20 = 58.8 · What this means: Relative strength against the index is 27.9%, and revenue and profit growth are weak. - 7Perma-Pipe International Holdings, Inc.PPIH · breaking out · Evidence leans up · 85% evidence57.7out of 100
How the score adds up
Growth & earnings 18.7/35 · Revenue 24.2% · Profit 42.9% · Operating margin change -3.7 points · 95% evidenceCapital efficiency 12.7/25 · ROCE 15.5% · Operating margin 7.1% · 76% evidenceValuation 15.4/20 · P/E 12.6× · PEG 0.24 · 65% evidenceRelative strength 10.9/20 · Lead over its industry -0.5% · Lead over S&P 500 -6.5% · 1 year 5.9% · 100% evidence · 8 of 12 weeks aheadExact sum: 18.7 + 12.7 + 15.4 + 10.9 = 57.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 8Quanex Building Products CorporationNX · breaking out · Evidence leans up · 77% evidence55.4out of 100
How the score adds up
Growth & earnings 20.8/35 · Revenue 1.3% · Profit — · Operating margin change 2.7 points · 71% evidenceCapital efficiency 7.6/25 · ROCE 6.5% · Operating margin 9.3% · 76% evidenceValuation 10.9/20 · P/E 17.9× · PEG 1.53 · 65% evidenceRelative strength 16.1/20 · Lead over its industry 22.6% · Lead over S&P 500 15.3% · 1 year 72.9% · 100% evidence · 6 of 12 weeks aheadExact sum: 20.8 + 7.6 + 10.9 + 16.1 = 55.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 9Armstrong World Industries, Inc.AWI · quiet · Evidence leans up · 81% evidence55.2out of 100
How the score adds up
Growth & earnings 19.4/35 · Revenue 8.4% · Profit 6.8% · Operating margin change 0 points · 83% evidenceCapital efficiency 18.6/25 · ROCE 19% · Operating margin 21.6% · 76% evidenceValuation 6.7/20 · P/E 21.7× · PEG 2.66 · 65% evidenceRelative strength 10.5/20 · Lead over its industry 1% · Lead over S&P 500 -5.2% · 1 year -6.8% · 100% evidence · 4 of 12 weeks aheadExact sum: 19.4 + 18.6 + 6.7 + 10.5 = 55.2 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. - 10Latham Group, Inc.SWIM · turning · Evidence leans up · 64% evidence54.0out of 100
How the score adds up
Growth & earnings 19.6/35 · Revenue 10.6% · Profit — · Operating margin change -0.2 points · 62% evidenceCapital efficiency 6.5/25 · ROCE 4.7% · Operating margin 14.1% · 76% evidenceValuation 8.5/20 · P/E 141.3× · PEG — · 15% evidenceRelative strength 19.4/20 · Lead over its industry 29.6% · Lead over S&P 500 21.8% · 1 year 19.8% · 100% evidence · 7 of 12 weeks aheadExact sum: 19.6 + 6.5 + 8.5 + 19.4 = 54 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 11Advanced Drainage Systems, Inc.WMS · turning · Evidence leans up · 81% evidence52.8out of 100
- 12Owens CorningOC · quiet · Too little evidence to rank firmly · 56% evidence50.6out of 100
- 13Arlo Technologies, Inc.ARLO · turning · Evidence leans up · 64% evidence50.1out of 100
- 14AAON, Inc.AAON · quiet · Evidence leans down · 81% evidence48.9out of 100
- 15SPX Technologies, Inc.SPXC · quiet · Evidence leans down · 81% evidence48.6out of 100
- 16Limbach Holdings, Inc.LMB · turning · Evidence leans down · 81% evidence46.7out of 100
- 17NPK International Inc.NPKI · quiet · Evidence leans down · 64% evidence46.3out of 100
- 18Lennox International Inc.LII · basing · Evidence leans down · 81% evidence45.7out of 100
- 19Fortune Brands Innovations, Inc.FBIN · basing · Evidence leans down · 81% evidence45.7out of 100
- 20Trane Technologies plcTT · quiet · Evidence leans down · 81% evidence45.3out of 100
- 21Janus International Group, Inc.JBI · basing · Too little evidence to rank firmly · 58% evidence40.9out of 100
- 22Gibraltar Industries, Inc.ROCK · basing · Evidence leans down · 71% evidence40.5out of 100
- 23Carrier Global CorporationCARR · basing · Evidence leans down · 81% evidence38.0out of 100
- 24Louisiana-Pacific CorporationLPX · turning · Evidence leans down · 81% evidence37.5out of 100
- 25Builders FirstSource, Inc.BLDR · basing · Most evidence points down · 81% evidence34.7out of 100
- 26Aspen Aerogels, Inc. this pageASPN · losing its lead · Most evidence points down · 64% evidence30.1out of 100
How the score adds up
Growth & earnings 6.7/35 · Revenue -49.1% · Profit — · Operating margin change -30.1 points · 62% evidenceCapital efficiency 3.0/25 · ROCE -21.1% · Operating margin -29.2% · 76% evidenceValuation 8.8/20 · P/E 72.9× · PEG — · 15% evidenceRelative strength 11.6/20 · Lead over its industry 8.7% · Lead over S&P 500 2.9% · 1 year 24.4% · 100% evidence · 3 of 12 weeks aheadExact sum: 6.7 + 3 + 8.8 + 11.6 = 30.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 27AirJoule Technologies CorporationAIRJ · quiet · Too little evidence to rank firmly · 58% evidence28.2out of 100
- 28Madison Air Solutions CorporationMAIR · quiet · Too little evidence to rank firmly · 31% evidence52.9out of 100
- 29JELD-WEN Holding, Inc.JELD · Too little evidence to rank firmly · 44% evidence32.2out of 100
Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.
The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.
Related companies: Building Products & Equipment, all 29 compared on one page.
Which companies are close to Aspen Aerogels in size?
Aspen Aerogels is the 26th largest of 27 Building Products & Equipment companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: Apogee Enterprises, Inc., Latham Group, Inc., NPK International Inc., Janus International Group, Inc. and Limbach Holdings, Inc. Just below it: Perma-Pipe International Holdings, Inc.
Building Products & Equipment companies close in size
- Apogee Enterprises, Inc. $1 billion
- Latham Group, Inc. $963 million
- NPK International Inc. $759 million
- Janus International Group, Inc. $682 million
- Limbach Holdings, Inc. $682 million
- Aspen Aerogels, Inc. $398 million
- Perma-Pipe International Holdings, Inc. $241 million
All 27 Building Products & Equipment companies, largest first
Companies close in size in other industries
- Summit Midstream Corporation $412 million · Oil & Gas Midstream
- Materialise NV $412 million · Software - Application
- Aspen Aerogels, Inc. $412 million
- ADTRAN Holdings, Inc. $411 million · Communication Equipment
- Boston Omaha Corporation $410 million · Conglomerates
What else do people ask about Aspen Aerogels?
What were Aspen Aerogels's latest quarterly results?
Aspen Aerogels, Inc. reported revenue of $49.8 M and a net loss of $23.3 M for the Jun 2026 quarter. Earnings per share were −$0.28. The operating margin was −29.2%, 30.1 percentage points lower than a year earlier (as of 4 November 2026).
What is Aspen Aerogels's market cap?
Aspen Aerogels, Inc.'s market capitalisation is $398 M at a stock price of $4.80. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026).
How is Aspen Aerogels performing?
Aspen Aerogels, Inc.'s latest readings are below. Over the past 13 weeks it has done worse than the S&P 500, for 1 week running. This describes what the data did, not a rating (as of 4 November 2026).
Will Aspen Aerogels's stock price go up?
This page does not forecast Aspen Aerogels, Inc.'s stock price. What it shows instead: the stock price is $4.80. Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026).
Where is Aspen Aerogels in its business cycle?
Aspen Aerogels, Inc.'s FY25 operating margin was −10.8%, against a 5-year range of −43.9% to 13.7%: the middle of its own range, neither a peak nor a low. The latest quarter was −29.2%.
Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026).
What could break the Aspen Aerogels story?
The main question: the share price moved +24.4% in a year while yearly earnings per share moved −2,883.4%. The difference came from the market paying a higher multiple.
On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026).
Is Aspen Aerogels a stock worth studying right now?
What the numbers show: Aspen Aerogels, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether earnings grow into a price that has already moved.
Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026).
Where do these numbers come from?
Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.
Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.
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