Aspen Aerogels (ASPN) AI Stock Analysis

• Market Cap: $574.88M
• Dividend Yield: N/A
• Average Volume (3M): 1.55M
• Price to Earnings (P/E): 35.3
• Beta (1Y): 1.86
• Revenue Growth: 11.18%
• EPS Growth: -3810800.00%
• Country: US
• Employees: 554
• Sector: Industrials
• Sector Strength: 72
• Industry: Construction
• EPS (TTM): -0.11
• Shares Outstanding: 82,360,490
• 10 Day Avg. Volume: 1,574,054
• 30 Day Avg. Volume: 1,546,926
• PEG Ratio: -0.55
• Price to Book (P/B): 1.50
• Price to Sales (P/S): 2.03
• P/FCF Ratio: -22.62
• Enterprise Value/Market Cap: 0.86
• Enterprise Value/Revenue: 1.24
• Enterprise Value/Gross Profit: 3.41
• Enterprise Value/Ebitda: -2.71
• 1Y Price Target: $8.38
• Price Target Upside: 18.03% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 49 Neutral
• Price Target: $7.00 ▼(-1.41% Downside)

Aspen Aerogels' overall stock score is primarily impacted by its challenging financial performance, with declining revenues and profitability pressures. While technical analysis and earnings call insights provide some positive aspects, the negative valuation metrics and financial instability weigh heavily on the score.

Positive Factors

Cost Reduction Achievements

Significant cost reductions enhance operational efficiency and can lead to improved profitability, supporting long-term financial health.

Positive Adjusted EBITDA Outlook

An improved EBITDA outlook indicates effective cost management and potential for better financial performance, aiding long-term growth.

Strong Cash Position

A strong cash position provides financial flexibility to invest in growth opportunities and manage economic downturns, supporting stability.

Negative Factors

Significant Revenue Decline

A substantial revenue decline indicates potential challenges in market demand and competitiveness, affecting long-term growth prospects.

Energy Industrial Segment Slowdown

A slowdown in a key segment suggests reduced demand and project activity, impacting revenue stability and market position.

Decline in Gross Profit and Margins

Declining gross profit and margins indicate cost pressures and inefficiencies, challenging the company's ability to sustain profitability.

Aspen Aerogels Business Overview & Revenue Model

Company Description

Aspen Aerogels, Inc. designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets in the United States, Asia, Canada, Europe, and Latin America. The company offers PyroThin thermal barriers for use in lithium-ion batteries in electric vehicles and energy storage industries; Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market; Pyrogel XTF to provide protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production. It also offers Spaceloft Grey and Spaceloft A2 for use in the building materials market; and Cryogel X201, which is used in designing cold systems, such as refrigerated appliances, cold storage equipment, and aerospace systems. The company was founded in 2001 and is headquartered in Northborough, Massachusetts.

How the Company Makes Money

Aspen Aerogels generates revenue primarily through the sale of its aerogel insulation products to a diverse customer base in the oil and gas, industrial, and construction sectors. The company’s revenue model is built on direct sales, contracts with large industrial clients, and partnerships with distributors. Key revenue streams include high-performance insulation for pipelines, equipment, and buildings, which are critical for energy conservation and cost savings. Additionally, Aspen Aerogels may engage in research and development collaborations and strategic partnerships that enhance product innovation and market reach, contributing to its overall earnings.

Aspen Aerogels Financial Statement Overview

Summary

Aspen Aerogels exhibits mixed financial performance with significant revenue growth potential but ongoing profitability challenges and cash flow constraints. The balance sheet shows moderate leverage, requiring careful management of assets and equity for long-term growth.

Income Statement

Aspen Aerogels shows a volatile income statement with fluctuating revenues and profitability challenges. The TTM data reports a negative net income and EBIT, indicating profitability issues. However, there was a significant revenue growth from 2022 to 2024, showcasing potential for revenue expansion. Margins remain a concern due to consistently negative EBIT and EBITDA margins.

Balance Sheet

The balance sheet reflects a moderate financial position with a manageable debt-to-equity ratio. Stockholders' equity has been relatively stable, suggesting a degree of balance sheet resilience. However, the decrease in total assets and stockholders' equity in the TTM period raises concerns about asset and equity sustainability moving forward.

Cash Flow

Cash flow analysis reveals challenges with free cash flow, which has been negative. The operating cash flow has been improving but remains insufficient to cover capital expenditures consistently. The TTM data shows improved operating cash flow, but free cash flow remains an area of concern due to high capital expenditures.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	397.18M	452.70M	238.72M	180.36M	121.62M	100.27M
Gross Profit	144.30M	182.90M	56.92M	4.98M	9.94M	14.59M
EBITDA	-181.63M	51.46M	-22.31M	-65.77M	-25.81M	-11.37M
Net Income	-311.94M	13.38M	-45.81M	-86.23M	-27.88M	-11.85M
Balance Sheet
Total Assets	525.13M	895.14M	703.05M	646.57M	182.95M	97.42M
Cash, Cash Equivalents and Short-Term Investments	168.03M	220.88M	139.72M	281.33M	76.56M	16.50M
Total Debt	173.17M	197.38M	138.77M	126.66M	15.24M	8.31M
Total Liabilities	216.36M	280.44M	214.99M	203.23M	54.55M	29.57M
Stockholders Equity	308.77M	614.71M	488.06M	447.44M	128.41M	67.85M
Cash Flow
Free Cash Flow	-3.30M	-40.71M	-218.07M	-272.37M	-32.41M	-13.34M
Operating Cash Flow	58.16M	45.55M	-42.61M	-94.40M	-18.63M	-9.92M
Investing Cash Flow	-61.45M	-86.26M	-175.46M	-177.97M	-13.78M	-3.42M
Financing Cash Flow	79.56M	122.02M	75.48M	478.37M	92.47M	26.20M

Aspen Aerogels Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.10
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASPN, the sentiment is Negative. The current price of 7.1 is above the 20-day moving average (MA) of 6.76, below the 50-day MA of 7.15, and below the 200-day MA of 7.91, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.65 is Neutral, neither overbought nor oversold. The STOCH value of 44.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ASPN.

Aspen Aerogels Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ROCK	74 Outperform	1.86B	15.06	12.23%	―	-7.49%	10.79%
APOG	72 Outperform	975.94M	18.69	10.66%	2.27%	-0.77%	-52.02%
BXC	63 Neutral	584.67M	21.91	4.57%	―	-2.32%	-21.44%
PPIH	57 Neutral	185.84M	18.44	12.54%	―	14.90%	-34.75%
ASPN	49 Neutral	$574.88M	35.31	-75.47%	―	11.18%	-3810800.00%
NX	49 Neutral	633.10M	-2.22	-39.63%	2.32%	70.18%	-374.22%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Aspen Aerogels Corporate Events

Aspen Aerogels Reports Q2 2025 Financial Results

Aspen Aerogels reported second quarter 2025 financial results, highlighting a revenue of $78 million with a 32% gross margin and a significant improvement in Adjusted EBITDA. Despite a net loss of $9.1 million, the company achieved operational improvements through cost structure optimization and strategic restructuring. The transition of CFO Ricardo Rodriguez to Grant Thoele is expected to ensure continuity in strategic direction, with a focus on maintaining financial resilience amid regulatory and market challenges.