Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026
Basics
Sector
Basic Materials
Industry
Specialty Chemicals
Country
United States
Market cap
277.5M USD
Enterprise value
336.3M USD
Full-time employees
271
Overall health
Strength:growing faster than most peersgrowing faster than peers
Drawback:less profitable than most peersless profitable than peers
Drawback:its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback:higher risk than most peers: its share price swings more than most peers’ (beta 3.70 vs a peer median of 0.69) and more debt relative to equity (0.99× vs a peer median of 0.36×)higher risk: bigger price swings (beta 3.70 vs peers 0.69) and more debt vs equity (0.99× vs peers 0.36×)
Ranks #1,023 of 1,217 basic materials companies (bottom 17%)
Paying shareholders without free cash flow. Paid out $3M over the 3 fiscal years to 2025 with -$82M of free cash flow.
ASP Isotopes returned $3M in buybacks and dividends over three fiscal years while its free cash flow totalled -$82M. The money came from its cash pile or from borrowing.
Shareholders being diluted. Shares outstanding up 327% from December 2022 to August 2026.
ASP Isotopes had 327% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.ASP Isotopes had 327% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock-based pay is a large cost. Stock pay was 67% of revenue in 2025.
ASP Isotopes paid employees $16M in stock in 2025, 67% of its $24M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($31M of revenue over 12 months).
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -321%).
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-42.3%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0364 · MAD: 0.0364
EBITDA yield-32.5%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.64Sector median: 0.0854 · MAD: 0.0520
Free cash flow yield-30.1%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0261 · MAD: 0.0261
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about ASP Isotopes
Is ASP Isotopes getting weaker?
Its latest SEC filing (Aug 14, 2026) got weaker in some ways: share count up 21.8%. Its overall score is unchanged at 30/100 since Oct 28, 2026.
How is ASP Isotopes valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,371 basic materials peers.Earnings yield -42.3% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -42.3% vs peers 3.6% (weaker than 100% of peers).
Is ASP Isotopes growing?
Yes, faster than most of its peers. Growth scores 92/100 against 1,371 basic materials peers.Revenue growth 573.4% vs a peer median of 3.4% (stronger than 95% of peers).Revenue growth 573.4% vs peers 3.4% (stronger than 95% of peers).
How profitable is ASP Isotopes?
Less profitable than most of its peers. Profitability scores 0/100 against 1,371 basic materials peers.Operating margin -321.1% vs a peer median of 7.6% (weaker than 100% of peers).Operating margin -321.1% vs peers 7.6% (weaker than 100% of peers).
How risky is ASP Isotopes?
Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings.Current ratio 3.87× vs a peer median of 1.76× (stronger than 85% of peers).Current ratio 3.87× vs peers 1.76× (stronger than 85% of peers).Beta 3.70 vs a peer median of 0.69 (weaker than 100% of peers).Beta 3.70 vs peers 0.69 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 14, 2026 · compared with the quarter ended Mar 31, 2026
Got weaker
Share count up 21.8% (existing holders diluted)
Worth watching: ASP Isotopes is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Revenue (12 months)
26.9M USD
30.9M USD
+14.6%
Net income (12 months)
−158.5M USD
−117.3M USD
−26.0%
Operating margin
-285.4%
-321.1%
−35.7 pts
Free cash flow (12 months)
−65.9M USD
−83.6M USD
+26.9%
Debt
258.2M USD
263.1M USD
+1.9%
Cash
207.3M USD
219.6M USD
+5.9%
Shares outstanding
125.9M
153.3M
+21.8%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Specialty Chemicals · 32 companies
Valuations in Specialty Chemicals are above their usual range since 2016.
74% of months since 2016 were valued lower than now.
17% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −8% and earnings +13% (medians): earnings grew faster than prices.
Median price-to-sales is −36% vs the whole market, against a usual −31%.
2016Shaded: most expensive fifth of its range2026
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
—
32.1%
38.6%
14.3%
▼ 24 pts
Operating margin
—
-3704.6%
-636.0%
-251.2%
▲ 385 pts
Net margin
—
-3762.9%
-782.4%
-670.2%
▲ 112 pts
Return on assets (ROA)
-39.6%
-59.2%
-34.4%
-32.1%
▲ 2.3 pts
Return on equity (ROE)
-50.4%
-100.0%
-67.7%
-78.3%
▼ 11 pts
Free cash flow margin
—
-1788.3%
-636.4%
-198.9%
▲ 437 pts
Current ratio
1.71×
1.85×
9.31×
12.23×
▲ 31%
Quick ratio
—
1.85×
9.30×
12.20×
▲ 31%
Debt to equity
0.00×
0.06×
0.77×
1.05×
▲ 36%
Interest coverage
—
-135.32×
-101.75×
-104.19×
▼ 2.4%
ASPI price history
Price history is added with the daily price update and will appear after the next one.