Also trades as: ADSE (NASDAQ) · $vol 0M

$0.29

-0.05 (-14.66%)

Weekly Expected Move ±54.1%

$-0 $0 $0 $0 $1

NASDAQ · Industrials · Electrical Equipment & Parts · Tech Score Sell · Power 34 · $447.6M mcap · 29M float · 0.025% daily turnover · Short 38% of daily vol

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Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. ADSEW receives an overall rating of C. Strongest factors: ROE (5/5). Areas of concern: DCF (1/5), ROA (1/5), D/E (1/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-09-15	None	ADDED
2026-09-15	EXISTED	None
2026-09-09	None	ADDED
2026-09-09	EXISTED	None
2026-08-24	None	ADDED
2026-08-18	EXISTED	None
2026-08-11	None	ADDED
2026-08-10	EXISTED	None
2026-06-22	None	ADDED
2026-06-22	EXISTED	None

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ — Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

—

Momentum

Safety

—

Cash Flow

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

—

Piotroski F-Score

3/9

✗ ✗ ✗ ✓ ✗ ✓ ✗ ✗ ✓

Beneish M-Score

-9.06

Unlikely Manipulator

Ohlson O-Score

1.79

Bankruptcy prob: 85.8%

High Risk

Credit Rating

B-

Score: 20.0/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: 0.41x

Accruals: -87.3%

The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. ADSEW scores 3/9, suggesting weak financial fundamentals — the company fails the majority of these accounting tests. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. ADSEW's score of -9.06 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. ADSEW's implied 85.8% bankruptcy probability signals significant financial distress. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. ADSEW receives an estimated rating of B- (score: 20.0/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-7.02x

PEG

0.61x

P/S

25.98x

P/B

90.90x

P/FCF

—

P/OCF

—

EV/EBITDA

—

EV/Revenue

—

EV/EBIT

—

EV/FCF

—

Earnings Yield

—

FCF Yield

—

Shareholder Yield

—

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. ADSEW currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

1.001

NI / EBT

Interest Burden

2.247

EBT / EBIT

EBIT Margin

-0.492

EBIT / Rev

Asset Turnover

1.346

Rev / Assets

Equity Multiplier

9.279

Assets / Equity

ROE

-1382.4%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. ADSEW's ROE of -1382.4% is driven by financial leverage (equity multiplier: 9.28x). Note: high leverage means ROE is amplified by debt rather than operational performance. A tax burden ratio of 1.00 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1253 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$0.29

Median 1Y

$0.04

5th Pctile

$0.00

95th Pctile

$0.90

Ann. Volatility

185.7%

25th–75th percentile 5th–95th percentile Median path Historical

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

302

0.0% YoY

Revenue / Employee

—

Profit / Employee

—

SGA / Employee

—

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
ROE	37.6%	-90.5%	-1.0%	-1.3%	-6.7%	-1.1%	-2.5%	-8.1%	-7.4%	-13.8%	-13.82%
ROA	-13.1%	-58.0%	-68.5%	-76.2%	-1.5%	-53.3%	-82.7%	-1.1%	-1.0%	-1.5%	-1.49%
ROIC	74.6%	-3.6%	-1.2%	-93.3%	-1.1%	-2.9%	8.0%	85.9%	3.2%	-1.2%	-1.24%
ROCE	-21.9%	-70.1%	-95.2%	-1.2%	-1.6%	-1.1%	-89.6%	-62.1%	-79.8%	-1.5%	-1.48%
Gross Margin	7.2%	-31.3%	-53.5%	-1.5%	-1.4%	-3.4%	19.8%	12.2%	-45.6%	-60.2%	-60.17%
Operating Margin	-19.4%	-1.4%	-2.0%	-1.1%	-49.8%	-37.1%	-6.3%	-11.9%	-2.1%	-1.6%	-1.65%
Net Margin	-24.7%	-6.8%	-77.5%	-68.2%	-75.2%	-38.0%	-57.0%	-1.7%	-1.0%	-2.4%	-2.39%
EBITDA Margin	-10.6%	-1.2%	-1.8%	-47.1%	-49.6%	-31.4%	-1.8%	-5.2%	-1.8%	-1.2%	-1.22%
FCF Margin	-18.7%	-60.2%	-1.3%	-1.5%	-1.3%	-72.8%	-32.2%	-22.0%	-32.8%	-48.5%	-48.51%
OCF Margin	-17.0%	-55.4%	-1.2%	-1.3%	-1.1%	-57.4%	-23.6%	-17.0%	-29.3%	-45.8%	-45.83%
ROA 3Y Avg	snapshot only										-98.06%
ROIC 3Y Avg	snapshot only										-1.00%
ROIC Economic	snapshot only										-1.14%
Cash ROA	snapshot only										-73.36%
Cash ROIC	snapshot only										-1.46%
CROIC	snapshot only										-1.55%
NOPAT Margin	snapshot only										-38.94%
Pretax Margin	snapshot only										-1.11%
R&D / Revenue	snapshot only										12.43%
SGA / Revenue	snapshot only										45.97%
SBC / Revenue	snapshot only										2.68%

Valuation

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
P/E Ratio	—	—	—	—	—	—	—	—	—	—	-7.022
P/S Ratio	—	—	—	—	—	—	—	—	—	—	25.978
P/B Ratio	—	—	—	—	—	—	—	—	—	—	90.901
P/FCF	—	—	—	—	—	—	—	—	—	—	—
P/OCF	—	—	—	—	—	—	—	—	—	—	—
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	—
EV/Revenue	—	—	—	—	—	—	—	—	—	—	—
EV/EBIT	—	—	—	—	—	—	—	—	—	—	—
EV/FCF	—	—	—	—	—	—	—	—	—	—	—
Earnings Yield	—	—	—	—	—	—	—	—	—	—	—
FCF Yield	—	—	—	—	—	—	—	—	—	—	—
PEG Ratio	snapshot only										0.609

Leverage & Solvency

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
Current Ratio	0.89	4.18	3.86	2.48	1.82	1.48	1.47	1.86	1.89	1.58	1.581
Quick Ratio	0.15	3.75	2.89	1.23	0.73	0.84	0.87	0.83	0.89	0.37	0.369
Debt/Equity	-0.52	0.10	0.02	0.04	0.28	0.51	-10.11	-0.39	-2.47	-5.82	-5.822
Net Debt/Equity	—	-0.95	-0.70	-0.38	0.01	-0.35	—	—	—	—	—
Debt/Assets	0.18	0.06	0.01	0.02	0.11	0.14	0.15	0.12	0.28	0.70	0.698
Debt/EBITDA	-3.21	-0.57	-0.05	-0.08	-0.25	-0.26	-0.38	-0.39	-0.72	-1.17	-1.171
Net Debt/EBITDA	-4.28	5.45	1.84	0.73	-0.01	0.18	0.10	0.14	0.02	-1.04	-1.041
Interest Coverage	-3.03	-32.94	-40.68	-40.51	-10.52	-22.24	-1.36	-1.22	-1.97	-1.10	-1.101
Equity Multiplier	-2.88	1.56	1.53	1.73	2.59	3.66	-69.01	-3.39	-8.93	-8.34	-8.339
Cash Ratio	snapshot only										0.166
Debt Service Coverage	snapshot only										-0.833
Cash to Debt	snapshot only										0.111
FCF to Debt	snapshot only										-1.112
Defensive Interval	snapshot only										78.7 days

Efficiency & Turnover

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
Asset Turnover	0.53	0.22	0.31	0.42	0.86	0.96	1.51	1.52	1.44	1.35	1.346
Inventory Turnover	1.21	2.70	1.77	1.26	2.21	5.42	5.65	3.43	3.12	3.19	3.185
Receivables Turnover	10.22	4.45	2.41	3.47	5.25	9.28	8.06	13.60	10.87	9.69	9.695
Payables Turnover	1.56	2.52	2.47	4.25	5.32	7.87	6.80	7.91	10.09	6.74	6.744
DSO	36	82	151	105	69	39	45	27	34	38	37.6 days
DIO	302	135	206	291	165	67	65	106	117	115	114.6 days
DPO	235	145	148	86	69	46	54	46	36	54	54.1 days
Cash Conversion Cycle	103	72	210	310	166	60	56	87	114	98	98.1 days
Fixed Asset Turnover	snapshot only										13.634
Operating Cycle	snapshot only										152.2 days
Cash Velocity	snapshot only										20.674
Capital Intensity	snapshot only										0.625

Growth (YoY)

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
Revenue	—	—	—	—	2.6%	3.0%	3.7%	2.7%	1.6%	8.6%	8.60%
Net Income	—	—	—	—	-24.0%	16.2%	-16.5%	-43.8%	-7.3%	-1.2%	-1.18%
EPS	—	—	—	—	-15.4%	13.5%	-12.0%	-35.9%	4.1%	-77.6%	-77.61%
FCF	—	—	—	—	-23.9%	-3.9%	-16.0%	44.4%	34.8%	27.6%	27.61%
EBITDA	—	—	—	—	-25.6%	-2.9%	-42.5%	-2.9%	12.8%	18.4%	18.35%
Op. Income	—	—	—	—	-17.1%	-2.9%	-63.2%	9.6%	12.7%	13.3%	13.27%
OCF Growth	snapshot only										13.26%
Asset Growth	snapshot only										-27.49%
Equity Growth	snapshot only										-1.32%
Debt Growth	snapshot only										2.63%
Shares Change	snapshot only										22.62%

Growth Quality

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
Revenue Stability	—	—	—	—	—	—	—	—	0.96	0.83	0.826
Earnings Stability	—	—	—	—	—	—	—	—	0.80	0.61	0.607
Margin Stability	—	—	—	—	—	—	—	—	0.00	0.01	0.007
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.000
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.50	0.00	0.00	0.00	0.00	0.000
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	—	—	—	—	—	—	—	—	0.97	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	—	—	—	—	—	—	—	—	—	—	—
Gross Margin Trend	—	—	—	—	—	—	—	—	0.08	0.07	0.072
FCF Margin Trend	—	—	—	—	—	—	—	—	0.41	0.18	0.180
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	—	—	—	—	—	—	—	—	—	—	—

Cash Flow Quality

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
OCF/Net Income	0.69	0.21	0.54	0.70	0.62	1.04	0.43	0.24	0.41	0.41	0.414
FCF/OCF	1.10	1.09	1.10	1.16	1.21	1.27	1.37	1.29	1.12	1.06	1.059
FCF/Net Income	snapshot only										0.438
CapEx/Revenue	1.7%	4.8%	11.8%	20.6%	22.0%	15.4%	8.6%	5.0%	3.4%	2.7%	2.68%
CapEx/Depreciation	snapshot only										0.224
Accruals Ratio	-0.04	-0.46	-0.32	-0.23	-0.56	0.02	-0.47	-0.81	-0.61	-0.87	-0.873
Sloan Accruals	snapshot only										-0.205
Cash Flow Adequacy	snapshot only										-17.086

Dividends & Buybacks

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
Dividend Yield	—	—	—	—	—	—	—	—	—	—	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	—	—	—	—	—	—	—	—	—
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	—	—
Total Payout Ratio	—	—	—	—	—	—	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	—	—	—	—	—	—	—	—	—	—	—
Net Buyback Yield	—	—	—	—	—	—	—	—	—	—	—
Total Shareholder Return	—	—	—	—	—	—	—	—	—	—	—

DuPont Factors

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
Tax Burden (NI/EBT)	1.00	1.00	1.01	1.03	1.01	0.99	1.00	0.98	0.99	1.00	1.001
Interest Burden (EBT/EBIT)	1.33	1.03	0.91	0.90	0.99	1.02	1.92	3.01	2.26	2.25	2.247
EBIT Margin	-0.19	-2.56	-2.44	-1.94	-1.71	-0.55	-0.29	-0.24	-0.32	-0.49	-0.492
Asset Turnover	0.53	0.22	0.31	0.42	0.86	0.96	1.51	1.52	1.44	1.35	1.346
Equity Multiplier	-2.88	1.56	1.53	1.73	4.54	2.11	3.02	7.50	7.16	9.28	9.279

Per Share

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
EPS (Diluted TTM)	$-0.16	$-1.73	$-1.95	$-2.17	$-2.65	$-1.50	$-2.19	$-2.95	$-2.54	$-2.66	$-2.66
Book Value/Share	$-0.43	$1.91	$1.86	$1.65	$1.07	$0.69	$-0.04	$-0.83	$-0.27	$-0.18	$0.10
Tangible Book/Share	$-0.92	$1.58	$1.48	$1.20	$0.59	$0.18	$-0.49	$-1.22	$-0.61	$-0.39	$-0.39
Revenue/Share	$0.65	$0.65	$0.88	$1.21	$1.55	$2.71	$3.99	$4.20	$3.54	$2.40	$0.36
FCF/Share	$-0.12	$-0.39	$-1.15	$-1.76	$-1.99	$-1.97	$-1.28	$-0.92	$-1.16	$-1.17	$-0.56
OCF/Share	$-0.11	$-0.36	$-1.05	$-1.51	$-1.65	$-1.56	$-0.94	$-0.71	$-1.04	$-1.10	$-0.52
Cash/Share	$-0.07	$2.01	$1.35	$0.70	$0.29	$0.59	$0.47	$0.44	$0.69	$0.12	$0.06
EBITDA/Share	$-0.07	$-0.33	$-0.71	$-0.87	$-1.20	$-1.34	$-0.98	$-0.84	$-0.94	$-0.89	$-0.89
Debt/Share	$0.22	$0.19	$0.04	$0.07	$0.30	$0.35	$0.37	$0.33	$0.67	$1.05	$1.05
Net Debt/Share	$0.30	$-1.82	$-1.31	$-0.63	$0.01	$-0.24	$-0.09	$-0.12	$-0.02	$0.93	$0.93

Per Employee

Metric	Q2'21	Current
Employee Count	snapshot only	302
Revenue/Employee	snapshot only	$478109.79
Income/Employee	snapshot only	$-529366.27
EBITDA/Employee	snapshot only	$-178125.56
FCF/Employee	snapshot only	$-231944.99
Assets/Employee	snapshot only	$298710.56

Academic Models

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—
Piotroski F-Score	2	2	2	2	4	4	3	3	3	3	3
Beneish M-Score	—	—	—	—	-2.18	5.86	-0.95	-6.09	-6.98	-9.06	-9.060
Ohlson O-Score	snapshot only										1.795
Net-Net WC	snapshot only										$-0.57
EVA	snapshot only										$-60742569.36

Credit

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Current
Credit Rating	snapshot only										B-
Credit Score	20.00	51.00	51.00	48.15	43.40	41.75	20.00	20.00	20.00	20.00	20.000
Credit Grade	snapshot only										16
Credit Trend	snapshot only										-21.750
Implied Spread (bps)	snapshot only										900.000

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