$5.79

+0.32 (+5.85%)

Weekly Expected Move ±16.7%

$4 $5 $6 $7 $7

NYSE · Industrials · Construction · Alpha Radar Strong Buy · Power 64 · $479.9M mcap · 77M float · 2.27% daily turnover · Short 46% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

34.0 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: 80.8% · 5Y Avg: 50.2%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale ★

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. ASPN has No discernible competitive edge (34.0/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. ROIC of 80.8% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

Avg Target

High

Based on 2 analysts since May 7, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 19Hold: 3Sell: 1Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$4.88

Analysts2

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-05-11	Barclays	David Anderson	$27	$4	-23	-20.6%	$5.04
2026-05-08	Roth Capital	—	Initiated	$6	—	+10.2%	$5.22
2024-10-22	Piper Sandler	Alexander Potter	$36	$33	-3	+54.7%	$21.33
2024-08-09	Canaccord Genuity	George Gianarikas	$32	$29	-3	+35.1%	$21.46
2024-08-08	Oppenheimer	Colin Rusch	Initiated	$32	—	+49.1%	$21.46
2024-08-06	Barclays	David Anderson	Initiated	$27	—	+43.3%	$18.84
2024-06-14	Craig-Hallum	Eric Stine	$32	$38	+6	+24.3%	$30.57
2024-06-13	Seaport Global	Tom Curran	Initiated	$38	—	+27.6%	$29.77
2024-05-29	Piper Sandler	Alexander Potter	$30	$36	+6	+23.0%	$29.26
2024-05-14	Piper Sandler	Alexander Potter	$29	$30	+1	+9.8%	$27.33
2024-05-03	Piper Sandler	Alexander Potter	Initiated	$29	—	+17.2%	$24.74
2022-07-07	Craig-Hallum	—	Initiated	$32	—	+186.5%	$11.17
2022-07-01	EF Hutton	—	$48	$18	-30	+77.3%	$10.15
2022-05-03	Canaccord Genuity	—	Initiated	$32	—	+40.5%	$22.78
2022-04-29	EF Hutton	—	Initiated	$48	—	+115.9%	$22.23

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.

May 22, 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. ASPN receives an overall rating of C. Strongest factors: P/B (4/5). Areas of concern: DCF (1/5), ROE (1/5), ROA (1/5), D/E (2/5), P/E (1/5).

Rating Change History

Date	From	To
2026-05-04	C-	C
2026-04-01	C	C-
2026-03-06	C+	C
2026-02-27	C	C+
2026-02-26	C-	C
2026-01-03	C+	C-

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.

★ ★ ★ ★ ★ 26 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. ASPN scores highest in Momentum (50/100) and lowest in Safety (0/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

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

Altman Z-Score

-2.32

Distress Zone

Piotroski F-Score

4/9

✗ ✓ ✓ ✓ ✗ ✓ ✗ ✗ ✗

Beneish M-Score

1.32

Possible Manipulator

Ohlson O-Score

-7.41

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

BB-

Score: 35.4/100

Trend: Improving

Earnings Quality

—

OCF/NI: -0.55x

Accruals: -26.6%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. ASPN scores -2.32, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. 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. ASPN scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. 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. ASPN's score of 1.32 exceeds the −1.78 red flag threshold — this does not confirm manipulation but indicates the earnings profile resembles past manipulators statistically. 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. ASPN's implied 0.1% bankruptcy probability is well within safe territory. 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. ASPN receives an estimated rating of BB- (score: 35.4/100), with a improving 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

-4.28x

PEG

-0.28x

P/S

2.08x

P/B

2.24x

P/FCF

7.96x

P/OCF

4.61x

EV/EBITDA

-5.11x

EV/Revenue

1.17x

EV/EBIT

-2.74x

EV/FCF

7.59x

Earnings Yield

-39.58%

FCF Yield

12.57%

Shareholder Yield

0.04%

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. ASPN 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

1.010

NI / EBT

Interest Burden

1.125

EBT / EBIT

EBIT Margin

-0.428

EBIT / Rev

Asset Turnover

0.354

Rev / Assets

Equity Multiplier

1.531

Assets / Equity

ROE

-26.3%

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. ASPN's ROE of -26.3% is driven by Asset Turnover (0.354), indicating efficient use of assets to generate revenue. A tax burden ratio of 1.01 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.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Assessment

Overvalued

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 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$5.79

Median 1Y

$4.57

5th Pctile

$1.09

95th Pctile

$19.40

Ann. Volatility

83.5%

Analyst Target

$4.88

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

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Donald R. Young President and Chief Executive Officer	$577,115	$1,670,722	$2,685,085
Ricardo C. Rodriguez Former Chief Financial Officer and Treasurer	$312,307	$1,228,466	$2,548,286
Virginia H. Johnson Former Chief Legal Officer, General Counsel and Corporate Secretary	$190,385	$810,782	$1,933,643
Keith L. Schilling Former Senior Vice President, Technology	$192,308	$761,655	$1,798,502
Corby C. Whitaker Chief Commercial Officer	$440,000	$786,218	$1,438,467
Gregg R. Landes Chief Operating Officer	$410,769	$761,654	$1,378,422
Grant D. Thoele Chief Financial Officer and Treasurer	$347,700	$458,933	$943,344
Glenn E. Deegan Chief Administrative Officer, General Counsel and Secretary	$106,250	$279,227	$470,445

CEO Pay Ratio

0:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $2,685,085

Avg Employee Cost (SGA/emp): $47,906,446

Employees: 854

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

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

Employees

854

+54.1% YoY

Revenue / Employee

$317,451

Rev: $271,103,000

Profit / Employee

$-456,150

NI: $-389,552,000

SGA / Employee

$47,906,446

Avg labor cost proxy

R&D / Employee

$7,371,344

Innovation spend

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	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
ROE	-40.8%	-42.5%	-37.8%	-51.3%	-69.0%	-91.2%	-28.7%	-27.8%	-24.8%	-19.1%	-9.8%	-6.6%	0.3%	0.3%	2.4%	-51.9%	-56.6%	-55.4%	-91.6%	-26.3%	-26.34%
ROA	-25.7%	-26.8%	-26.5%	-35.9%	-48.3%	-63.8%	-20.0%	-19.4%	-17.3%	-13.3%	-6.8%	-4.6%	0.2%	0.2%	1.7%	-35.8%	-39.0%	-38.2%	-59.8%	-17.2%	-17.21%
ROIC	-33.9%	-40.3%	-47.8%	-62.5%	-81.4%	-1.0%	-21.9%	-22.0%	-20.5%	-16.7%	-8.0%	-4.5%	0.9%	3.7%	8.2%	-33.0%	-36.4%	-39.2%	-18.3%	80.8%	80.84%
ROCE	-30.7%	-32.0%	-25.2%	-33.7%	-44.5%	-58.3%	-13.7%	-13.4%	-12.1%	-9.1%	-6.5%	-3.4%	2.3%	2.5%	3.5%	-34.8%	-38.1%	-37.1%	-1.1%	-28.6%	-28.62%
Gross Margin	14.5%	10.1%	-5.3%	-4.7%	-2.7%	-17.3%	24.0%	11.2%	17.5%	22.7%	35.2%	37.2%	43.8%	41.8%	38.3%	29.0%	32.4%	28.5%	-55.5%	11.3%	11.29%
Operating Margin	-20.9%	-37.8%	-51.8%	-48.5%	-49.6%	-77.1%	-16.2%	-41.5%	-35.4%	-24.1%	1.6%	2.6%	17.0%	14.8%	12.0%	-3.8%	-6.6%	-4.6%	6.2%	-53.9%	-53.87%
Net Margin	-21.1%	-25.7%	-52.0%	-50.7%	-52.7%	-80.6%	-16.1%	-36.8%	-32.0%	-21.5%	-0.6%	-1.9%	14.3%	-11.1%	9.2%	-3.8%	-11.6%	-8.7%	-1.8%	-62.5%	-62.54%
EBITDA Margin	-14.2%	-16.8%	-41.8%	-43.0%	-44.8%	-69.0%	-10.2%	-30.3%	-22.7%	-9.6%	9.0%	8.7%	22.7%	-4.1%	16.4%	-3.7%	0.8%	3.6%	-1.0%	-36.8%	-36.83%
FCF Margin	-11.7%	-16.5%	-26.6%	-50.3%	-77.6%	-1.4%	-1.5%	-1.6%	-1.8%	-1.3%	-91.3%	-65.2%	-36.9%	-22.3%	-9.0%	-1.0%	-0.8%	0.8%	-1.7%	15.4%	15.45%
OCF Margin	-6.7%	-10.4%	-15.3%	-30.0%	-34.9%	-54.1%	-52.3%	-51.3%	-49.4%	-29.9%	-17.9%	-12.4%	-5.9%	1.7%	10.1%	15.8%	14.6%	14.9%	12.1%	26.7%	26.66%
ROE 3Y Avg	snapshot only																				-33.47%
ROE 5Y Avg	snapshot only																				-31.50%
ROA 3Y Avg	snapshot only																				-21.29%
ROIC 3Y Avg	snapshot only																				13.06%
ROIC Economic	snapshot only																				47.98%
Cash ROA	snapshot only																				15.09%
Cash ROIC	snapshot only																				27.61%
CROIC	snapshot only																				15.99%
NOPAT Margin	snapshot only																				78.07%
Pretax Margin	snapshot only																				-48.17%
R&D / Revenue	snapshot only																				5.13%
SGA / Revenue	snapshot only																				36.70%
SBC / Revenue	snapshot only																				2.54%

Valuation

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
P/E Ratio	-32.97	-55.57	-43.83	-22.57	-5.14	-4.07	-7.01	-6.44	-7.65	-10.86	-24.12	-43.22	1354.21	1413.43	73.72	-1.83	-1.56	-1.88	-0.60	-2.53	-4.278
P/S Ratio	7.97	13.22	13.37	8.61	2.38	2.39	3.22	2.75	2.87	2.78	4.63	4.64	5.27	5.10	2.18	1.20	1.22	1.63	0.86	1.23	2.084
P/B Ratio	12.57	22.05	12.66	8.85	2.71	2.84	1.30	1.15	1.22	1.33	2.26	2.73	3.86	4.33	1.60	0.85	0.79	0.93	0.99	1.20	2.244
P/FCF	-68.06	-80.15	-50.17	-17.11	-3.07	-1.74	-2.13	-1.67	-1.63	-2.21	-5.07	-7.11	-14.28	-22.90	-24.22	-117.39	-147.51	213.60	-51.11	7.96	7.956
P/OCF	—	—	—	—	—	—	—	—	—	—	—	—	—	298.01	21.65	7.61	8.37	10.94	7.12	4.61	4.610
EV/EBITDA	-53.42	-88.78	-59.42	-27.35	-5.19	-4.02	-6.12	-5.38	-6.85	-11.85	-48.13	-1482.18	51.23	55.86	19.13	-2.00	-1.68	-2.04	-0.67	-5.11	-5.109
EV/Revenue	7.89	13.15	12.86	8.14	1.96	1.99	2.32	1.88	2.02	2.03	4.62	4.63	5.27	5.10	2.13	1.15	1.17	1.56	0.81	1.17	1.172
EV/EBIT	-32.96	-55.77	-42.43	-21.79	-4.39	-3.55	-5.39	-4.68	-5.64	-8.44	-27.27	-61.90	130.63	136.52	34.64	-1.84	-1.55	-1.89	-0.59	-2.74	-2.736
EV/FCF	-67.41	-79.71	-48.27	-16.18	-2.53	-1.45	-1.54	-1.14	-1.15	-1.61	-5.06	-7.10	-14.27	-22.89	-23.64	-112.13	-140.39	204.84	-48.24	7.59	7.587
Earnings Yield	-3.0%	-1.8%	-2.3%	-4.4%	-19.5%	-24.5%	-14.3%	-15.5%	-13.1%	-9.2%	-4.1%	-2.3%	0.1%	0.1%	1.4%	-54.5%	-64.1%	-53.2%	-1.7%	-39.6%	-39.58%
FCF Yield	-1.5%	-1.2%	-2.0%	-5.8%	-32.5%	-57.4%	-47.0%	-60.0%	-61.3%	-45.3%	-19.7%	-14.1%	-7.0%	-4.4%	-4.1%	-0.9%	-0.7%	0.5%	-2.0%	12.6%	12.57%
Price/Tangible Book	snapshot only																				1.202
EV/OCF	snapshot only																				4.396
EV/Gross Profit	snapshot only																				9.826
Acquirers Multiple	snapshot only																				1.186
Shareholder Yield	snapshot only																				0.04%

Leverage & Solvency

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Current Ratio	3.38	3.38	3.07	3.07	3.07	3.07	4.68	4.68	4.68	4.68	3.41	3.41	3.41	3.41	3.72	3.72	3.72	3.72	3.90	3.90	3.903
Quick Ratio	2.44	2.44	2.74	2.74	2.74	2.74	4.40	4.40	4.40	4.40	2.91	2.91	2.91	2.91	3.29	3.29	3.29	3.29	3.29	3.29	3.286
Debt/Equity	0.12	0.12	0.12	0.12	0.12	0.12	0.27	0.27	0.27	0.27	0.28	0.28	0.28	0.28	0.32	0.32	0.32	0.32	0.61	0.61	0.610
Net Debt/Equity	-0.12	-0.12	-0.48	-0.48	-0.48	-0.48	-0.36	-0.36	-0.36	-0.36	-0.00	-0.00	-0.00	-0.00	-0.04	-0.04	-0.04	-0.04	-0.06	-0.06	-0.056
Debt/Assets	0.09	0.09	0.08	0.08	0.08	0.08	0.19	0.19	0.19	0.19	0.20	0.20	0.20	0.20	0.22	0.22	0.22	0.22	0.35	0.35	0.353
Debt/EBITDA	-0.53	-0.50	-0.58	-0.39	-0.28	-0.20	-1.75	-1.82	-2.13	-3.26	-6.05	-154.36	3.78	3.67	3.92	-0.79	-0.71	-0.73	-0.43	-2.72	-2.721
Net Debt/EBITDA	0.52	0.49	2.33	1.56	1.11	0.81	2.37	2.47	2.88	4.42	0.04	1.06	-0.03	-0.03	-0.47	0.09	0.09	0.09	0.04	0.25	0.249
Interest Coverage	-108.12	-108.47	-160.98	-48.63	-25.99	-20.38	-15.06	-16.53	-21.13	-15.00	-7.60	-2.51	1.26	1.28	2.19	-24.48	-26.71	-25.25	-35.13	-17.60	-17.604
Equity Multiplier	1.44	1.44	1.42	1.42	1.42	1.42	1.44	1.44	1.44	1.44	1.44	1.44	1.44	1.44	1.46	1.46	1.46	1.46	1.73	1.73	1.727
Cash Ratio	snapshot only																				2.529
Debt Service Coverage	snapshot only																				-9.427
Cash to Debt	snapshot only																				1.092
FCF to Debt	snapshot only																				0.247

Efficiency & Turnover

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Asset Turnover	1.06	1.13	0.87	0.94	1.04	1.09	0.44	0.45	0.46	0.52	0.35	0.43	0.53	0.61	0.57	0.55	0.50	0.44	0.42	0.35	0.354
Inventory Turnover	8.48	8.94	8.90	10.18	11.76	13.02	10.16	10.18	9.77	9.99	5.89	6.50	7.36	8.05	6.22	6.14	5.83	5.46	5.25	4.73	4.727
Receivables Turnover	4.46	4.72	6.73	7.30	8.08	8.43	4.64	4.82	4.89	5.51	3.75	4.52	5.61	6.50	5.06	4.88	4.44	3.94	3.76	3.19	3.190
Payables Turnover	10.33	10.89	9.80	11.21	12.94	14.33	4.86	4.87	4.67	4.78	3.44	3.79	4.29	4.70	5.65	5.58	5.30	4.96	7.82	7.04	7.041
DSO	82	77	54	50	45	43	79	76	75	66	97	81	65	56	72	75	82	93	97	114	114.4 days
DIO	43	41	41	36	31	28	36	36	37	37	62	56	50	45	59	59	63	67	70	77	77.2 days
DPO	35	34	37	33	28	25	75	75	78	76	106	96	85	78	65	65	69	74	47	52	51.8 days
Cash Conversion Cycle	90	85	58	53	48	46	40	37	34	26	53	41	30	24	66	69	76	86	120	140	139.8 days
Fixed Asset Turnover	snapshot only																				1.879
Operating Cycle	snapshot only																				191.6 days
Cash Velocity	snapshot only																				1.468
Capital Intensity	snapshot only																				1.766

Growth (YoY)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue	-20.7%	-8.6%	21.3%	32.0%	36.4%	34.5%	48.3%	42.2%	30.3%	40.7%	32.4%	53.4%	88.0%	93.3%	89.6%	51.9%	11.2%	-14.7%	-40.1%	-47.3%	-47.30%
Net Income	-1.1%	-62.5%	-70.1%	-1.0%	-1.6%	-2.3%	-1.2%	-59.1%	-5.5%	38.6%	44.6%	61.5%	1.0%	1.0%	1.3%	-8.3%	-225.2%	-205.3%	-30.1%	60.8%	60.85%
EPS	-98.7%	-33.5%	-40.9%	-71.8%	-1.1%	-1.7%	-48.0%	24.2%	46.4%	65.0%	61.1%	64.8%	1.0%	1.0%	1.2%	-7.6%	-216.5%	-190.1%	-30.2%	61.2%	61.17%
FCF	-1.4%	-4.8%	-1.4%	-3.6%	-8.0%	-10.2%	-7.4%	-3.7%	-2.0%	-29.1%	19.9%	39.3%	60.6%	65.9%	81.3%	97.6%	97.5%	1.0%	88.8%	9.0%	8.96%
EBITDA	-7.2%	-1.5%	-1.3%	-1.7%	-2.5%	-3.5%	-1.6%	-67.2%	-1.7%	51.5%	66.4%	98.6%	1.7%	2.0%	3.2%	-277.4%	-8.5%	-8.1%	-7.6%	78.9%	78.90%
Op. Income	-1.2%	-87.0%	-88.2%	-1.2%	-1.7%	-1.8%	-95.2%	-49.9%	-7.0%	29.9%	37.9%	65.0%	1.1%	1.7%	2.1%	-7.9%	-30.7%	-8.1%	-1.9%	1.9%	1.92%
OCF Growth	snapshot only																				-10.95%
Asset Growth	snapshot only																				-54.57%
Equity Growth	snapshot only																				-61.69%
Debt Growth	snapshot only																				-27.19%
Shares Change	snapshot only																				0.82%

Growth (CAGR)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue 3Y	-0.4%	2.5%	5.2%	6.5%	7.6%	5.8%	9.0%	10.3%	12.1%	20.0%	33.5%	42.2%	49.5%	54.1%	55.0%	49.1%	39.6%	32.3%	14.5%	7.1%	7.08%
Revenue 5Y	-3.7%	-2.4%	0.7%	4.1%	6.7%	8.1%	10.1%	10.9%	11.9%	15.3%	18.0%	21.4%	25.0%	26.3%	26.6%	25.6%	24.1%	23.3%	22.0%	18.2%	18.16%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	-7.9%	1.3%	-7.8%	-32.4%	—	—	-42.6%	-25.4%	-8.3%	23.6%	57.4%	90.6%	1.1%	1.2%	1.6%	2.4%	—	—	1.1%	32.3%	32.33%
Gross Profit 5Y	-12.7%	-12.1%	-15.7%	-26.1%	—	—	-23.2%	-9.3%	3.2%	22.8%	35.1%	45.0%	55.4%	51.7%	47.4%	43.0%	38.9%	39.4%	25.8%	16.9%	16.92%
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.6%	—	—	—	—	—
Assets 3Y	-7.7%	-7.7%	22.7%	22.7%	22.7%	22.7%	83.9%	83.9%	83.9%	83.9%	93.2%	93.2%	93.2%	93.2%	69.8%	69.8%	69.8%	69.8%	-14.2%	-14.2%	-14.18%
Assets 5Y	-7.0%	-7.0%	6.3%	6.3%	6.3%	6.3%	39.0%	39.0%	39.0%	39.0%	48.0%	48.0%	48.0%	48.0%	54.0%	54.0%	54.0%	54.0%	33.1%	33.1%	33.08%
Equity 3Y	-12.4%	-12.4%	22.3%	22.3%	22.3%	22.3%	96.5%	96.5%	96.5%	96.5%	93.0%	93.0%	93.0%	93.0%	68.5%	68.5%	68.5%	68.5%	-19.3%	-19.3%	-19.26%
Book Value 3Y	-17.6%	-21.1%	10.1%	9.9%	7.8%	3.8%	55.0%	40.3%	42.7%	43.0%	40.6%	38.5%	37.4%	45.3%	23.5%	24.3%	27.1%	31.9%	-32.1%	-23.9%	-23.94%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue Stability	0.09	0.05	0.00	0.14	0.41	0.53	0.33	0.41	0.60	0.69	0.74	0.70	0.64	0.62	0.65	0.74	0.80	0.76	0.57	0.46	0.464
Earnings Stability	0.22	0.36	0.34	0.36	0.37	0.43	0.51	0.63	0.66	0.48	0.38	0.24	0.01	0.00	0.00	0.54	0.42	0.39	0.35	0.36	0.356
Margin Stability	0.75	0.78	0.67	0.50	0.33	0.06	0.46	0.40	0.32	0.07	0.36	0.19	0.06	0.00	0.22	0.23	0.22	0.12	0.30	0.30	0.305
Rev. Growth Consistency	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	0.00	0.00	0.00	0.00	0.50	0.500
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.98	0.85	0.82	0.50	0.20	0.20	0.20	0.50	0.20	0.20	0.20	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	-0.05	-0.06	-0.00	-0.11	-0.23	-0.36	0.12	0.20	0.29	0.42	0.14	0.22	0.35	0.41	0.16	-0.34	-0.43	-0.44	-1.62	-0.21	-0.211
Gross Margin Trend	-0.03	-0.03	-0.09	-0.13	-0.18	-0.23	-0.09	-0.02	0.05	0.16	0.18	0.25	0.31	0.34	0.27	0.21	0.12	0.03	-0.15	-0.23	-0.227
FCF Margin Trend	-0.07	-0.12	-0.19	-0.42	-0.70	-1.28	-1.31	-1.32	-1.32	-0.49	-0.03	0.42	0.90	1.10	1.12	1.14	1.06	0.75	0.48	0.49	0.486
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	0.3%	0.3%	2.4%	—	—	—	—	—	—
Internal Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	0.2%	0.2%	1.7%	—	—	—	—	—	—

Cash Flow Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
OCF/Net Income	0.28	0.44	0.50	0.79	0.75	0.92	1.14	1.20	1.31	1.16	0.93	1.16	-15.23	4.74	3.41	-0.24	-0.19	-0.17	-0.08	-0.55	-0.548
FCF/OCF	1.74	1.59	1.74	1.68	2.22	2.54	2.89	3.21	3.57	4.23	5.12	5.25	6.23	-13.01	-0.89	-0.06	-0.06	0.05	-0.14	0.58	0.579
FCF/Net Income	snapshot only																				-0.318
CapEx/Revenue	5.0%	6.1%	11.3%	20.3%	42.7%	83.4%	98.7%	1.1%	1.3%	96.4%	73.5%	52.8%	31.0%	24.0%	19.1%	16.8%	15.5%	14.1%	13.8%	11.2%	11.21%
CapEx/Depreciation	snapshot only																				0.563
Accruals Ratio	-0.19	-0.15	-0.13	-0.08	-0.12	-0.05	0.03	0.04	0.05	0.02	-0.00	0.01	0.03	-0.01	-0.04	-0.44	-0.46	-0.45	-0.65	-0.27	-0.266
Sloan Accruals	snapshot only																				-0.254
Cash Flow Adequacy	snapshot only																				2.378

Dividends & Buybacks

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	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	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	—	—	—	—	—	—
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0%	—	0.0%	0.00%
Total Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.2%	—	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.04%
Net Buyback Yield	-12.1%	-7.0%	-5.8%	-14.2%	-22.8%	-33.8%	-67.5%	-61.7%	-57.3%	-45.0%	-6.9%	-5.7%	-4.1%	-3.6%	0.0%	0.0%	0.0%	0.0%	-0.2%	-0.1%	-0.13%
Total Shareholder Return	-12.1%	-7.0%	-5.8%	-14.2%	-22.8%	-33.8%	-67.5%	-61.7%	-57.3%	-45.0%	-6.9%	-5.7%	-4.1%	-3.6%	0.0%	0.0%	0.0%	0.0%	-0.2%	-0.1%	-0.13%

DuPont Factors

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Tax Burden (NI/EBT)	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.03	0.46	0.44	0.89	1.01	1.01	1.01	1.01	1.01	1.010
Interest Burden (EBT/EBIT)	1.01	1.01	1.01	1.02	1.04	1.05	1.07	1.06	1.05	1.07	1.13	1.40	0.21	0.22	0.54	1.04	1.04	1.04	1.03	1.12	1.125
EBIT Margin	-0.24	-0.24	-0.30	-0.37	-0.45	-0.56	-0.43	-0.40	-0.36	-0.24	-0.17	-0.07	0.04	0.04	0.06	-0.62	-0.75	-0.83	-1.39	-0.43	-0.428
Asset Turnover	1.06	1.13	0.87	0.94	1.04	1.09	0.44	0.45	0.46	0.52	0.35	0.43	0.53	0.61	0.57	0.55	0.50	0.44	0.42	0.35	0.354
Equity Multiplier	1.58	1.58	1.43	1.43	1.43	1.43	1.44	1.44	1.44	1.44	1.44	1.44	1.44	1.44	1.45	1.45	1.45	1.45	1.53	1.53	1.531

Per Share

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
EPS (Diluted TTM)	$-0.91	$-0.83	$-1.14	$-1.53	$-1.92	$-2.26	$-1.68	$-1.16	$-1.03	$-0.79	$-0.65	$-0.41	$0.02	$0.02	$0.16	$-3.49	$-3.80	$-3.70	$-4.71	$-1.35	$-1.35
Book Value/Share	$2.38	$2.09	$3.93	$3.90	$3.65	$3.25	$9.09	$6.47	$6.46	$6.45	$6.97	$6.44	$6.18	$6.40	$7.41	$7.49	$7.48	$7.46	$2.85	$2.85	$2.58
Tangible Book/Share	$2.38	$2.09	$3.93	$3.90	$3.65	$3.25	$9.09	$6.47	$6.46	$6.45	$6.97	$6.44	$6.18	$6.40	$7.41	$7.49	$7.48	$7.46	$2.85	$2.85	$2.85
Revenue/Share	$3.75	$3.48	$3.72	$4.01	$4.14	$3.85	$3.67	$2.71	$2.74	$3.09	$3.41	$3.80	$4.52	$5.43	$5.45	$5.32	$4.83	$4.28	$3.28	$2.78	$2.78
FCF/Share	$-0.44	$-0.57	$-0.99	$-2.02	$-3.22	$-5.30	$-5.54	$-4.47	$-4.84	$-3.90	$-3.11	$-2.48	$-1.67	$-1.21	$-0.49	$-0.05	$-0.04	$0.03	$-0.06	$0.43	$0.43
OCF/Share	$-0.25	$-0.36	$-0.57	$-1.20	$-1.45	$-2.08	$-1.92	$-1.39	$-1.36	$-0.92	$-0.61	$-0.47	$-0.27	$0.09	$0.55	$0.84	$0.71	$0.64	$0.40	$0.74	$0.74
Cash/Share	$0.58	$0.51	$2.34	$2.32	$2.17	$1.94	$5.72	$4.07	$4.06	$4.06	$2.00	$1.84	$1.77	$1.83	$2.66	$2.69	$2.69	$2.68	$1.90	$1.90	$2.12
EBITDA/Share	$-0.55	$-0.52	$-0.81	$-1.19	$-1.57	$-1.91	$-1.39	$-0.95	$-0.81	$-0.53	$-0.33	$-0.01	$0.47	$0.50	$0.61	$-3.05	$-3.36	$-3.26	$-4.01	$-0.64	$-0.64
Debt/Share	$0.29	$0.26	$0.47	$0.46	$0.43	$0.39	$2.43	$1.73	$1.72	$1.72	$1.98	$1.83	$1.76	$1.82	$2.38	$2.41	$2.40	$2.40	$1.74	$1.74	$1.74
Net Debt/Share	$-0.29	$-0.25	$-1.88	$-1.86	$-1.74	$-1.55	$-3.29	$-2.34	$-2.34	$-2.34	$-0.01	$-0.01	$-0.01	$-0.01	$-0.28	$-0.29	$-0.29	$-0.29	$-0.16	$-0.16	$-0.16

Academic Models

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-2.325
Altman Z-Prime	snapshot only																				-5.405
Piotroski F-Score	3	3	2	2	2	2	4	4	4	4	5	4	5	7	8	5	4	4	4	4	4
Beneish M-Score	-3.80	-3.73	-1.31	-1.06	-2.50	0.29	-1.76	-1.71	-1.36	-2.07	-2.44	-2.21	-1.78	-2.24	-1.74	-3.09	-2.87	-2.65	-3.17	1.32	1.320
Ohlson O-Score	snapshot only																				-7.410
ROIC (Greenblatt)	snapshot only																				-32.60%
Net-Net WC	snapshot only																				$0.86
EVA	snapshot only																				$157521380.00

Credit

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Credit Rating	snapshot only																				BB-
Credit Score	58.76	59.23	59.04	58.79	28.87	29.03	32.44	33.32	33.23	33.02	43.37	52.83	59.31	60.19	52.03	31.47	31.46	33.12	30.53	35.42	35.421
Credit Grade	snapshot only																				13
Credit Trend	snapshot only																				3.950
Implied Spread (bps)	snapshot only																				550.000
Industry Credit Rank	snapshot only																				25
Sector Credit Rank	snapshot only																				21

ASPN NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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