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Aqua Metals, Inc.

AQMS

$1.17 ▼ -0.10 (-7.87%) at close

12 Visible periods

28 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

Aqua Metals, Inc. faces fundamental challenges with weakness in Return on Common Equity (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $1.7M

Dividend Yield —

Revenue Growth None

Op. Margin —

ROIC -158.0% ↘

FCF / Share $-7.14 ↘

Trailing P/E —

Price / Book 0.2x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Nov 5, 2026.

12-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$0.00

↓ -100.0% —

Net Income Profit after all expenses

$-22.65M

↑ +7.8% —

FCF / Share Free cash flow per share

$-7.14

↓ -112.8% —

Long-Term Debt Long-term obligations

$9.31M

↓ -2.5% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Returns ↓

Financial Health ↑

Cash Quality ↓

Financial view

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Revenue Growth YoY (%)	—	N/M	525.0% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+10400%)	-97.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-2054%)	60.2% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1104%)	-97.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-2056%)	9.6% Fair Fair Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+91%)	111.9% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+2137%)	—	—	—	—
EPS Growth YoY (%)	-295.6% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-1432.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-25.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	23.1% Good Good Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	7.8% Fair ↑ Fair Improving Year-over-year change in net income	-2.6% Weak ↑ Weak Improving Year-over-year change in net income	-55.1% Weak ↓ Weak Declining Year-over-year change in net income	15.2% Good ↓ Good Declining Year-over-year change in net income	29.4% Excellent ↑ Excellent Improving Year-over-year change in net income	42.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-11.3% Weak ↑ Weak Improving Year-over-year change in net income	-51.4% Weak → Weak Stable Year-over-year change in net income	-96.1% Weak Weak Year-over-year change in net income	-9.9% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-112.8% Weak ↑ Weak Improving Year-over-year change in free cash flow	-3487.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	52.4% Excellent Excellent Year-over-year change in free cash flow	-46.4% Weak Weak Year-over-year change in free cash flow	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	—	—	-38.6% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-90.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-66.1% Weak Weak Compound annual revenue growth over 3 years	-62.8% Weak Weak Compound annual revenue growth over 3 years	—	—	—	—	—	—
Revenue CAGR 5Y (%)	—	—	-64.5% Weak Weak Compound annual revenue growth over 5 years	-71.4% Weak Weak Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—

💰 Are margins durable? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Effective Tax Rate (%) (%)	-0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
FCF / Net Income (x)	0.47x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.88x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.37x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.97x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.52x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.56x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.85x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.75x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.05x Fair Fair Free cash flow relative to reported net income Optimal: > 1x	2.78x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Return on Invested Capital (%)	-158.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-146.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-93.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-74.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-63.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-49.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-69.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-62.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-42.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-19.4% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-12.5% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-118.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-90.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-72.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-46.5% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-52.5% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	-43.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-58.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-51.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-33.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-18.1% Weak Weak Operating profit relative to total assets Optimal: > 10%	-11.5% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	-153.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1378%)	-151.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1360%)	-91.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-865%)	-73.8% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-715%)	-66.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-651%)	-82.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-789%)	-90.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-853%)	-80.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-770%)	-45.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-476%)	-23.8% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-298%)	-36.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-405%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Debt to Equity (x)	—	—	—	—	—	—	0.19x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-62%)	0.19x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-62%)	—	0.17x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-65%)	0.30x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-40%)	—
Interest Coverage (x)	-44.19x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-71.61x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-39.39x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-124.53x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-831.67x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-9.50x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-11.73x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-10.74x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-14.12x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-20.28x Weak Weak Operating income divided by interest expense Optimal: > 5x	-4.83x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-10.81M	$-4.08M	$-16.52M	$-7.08M	$-8.14M	$-6.53M	$1.71M	$-11.35M	$-22.79M	$-15.54M	$-10.12M	$-4.54M
Debt / EBITDA (x)	—	—	—	—	—	—	-0.25x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.28x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	-0.81x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.87x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Revenue per Share (USD)	—	$0.00	$0.00	$0.00	$0.00	—	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$-15.15	$-3.83	$-0.25	$-0.20	$-0.26	—	—	—	—	—	—	—
Free Cash Flow per Share (USD)	$-7.14	$-3.36	$-0.09	$-0.20	$-0.13	—	—	—	—	—	—	—
Book Value per Share (USD)	$4.92	$2.10	$0.24	$0.26	$0.39	$0.48	$0.86	$1.29	$2.14	$3.19	$2.38	$-0.18
Tangible Book Value per Share (USD)	$4.92	$2.10	$0.24	$0.26	$0.39	$0.48	$0.86	$1.29	$2.14	$3.19	$2.38	$-0.18
Basic Weighted Avg Shares (shares)	1.49M	6.42M	93.93M	75.81M	70.00M	—	—	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Working Capital (USD)	$8.98M	$-3.54M	$13.69M	$10.90M	$8.36M	$4.90M	$17.69M	$10.95M	$21.85M	$23.34M	$28.64M	$-658.77K
LT Debt (USD)	—	—	—	—	—	—	$9.31M	$9.54M	—	$9.92M	$10.02M	—
Total Equity (USD)	$14.77M	$16.24M	$26.06M	$20.92M	$27.53M	$31.14M	$49.59M	$50.09M	$58.97M	$56.99M	$33.67M	$-769.36K

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Sales/Revenue/Turnover (USD)	—	$0.00	$25.00K	$4.00K	$173.00K	$108.00K	$4.87M	$4.45M	$2.10M	—	—	—
Depreciation Expense (USD)	$815.00K	$900.00K	$900.00K	$500.00K	$600.00K	$1.90M	$3.50M	$3.21M	$2.91M	$687.00K	$89.06K	—
Net Income, GAAP (USD)	$-22.65M	$-24.55M	$-23.94M	$-15.43M	$-18.19M	$-25.76M	$-44.80M	$-40.25M	$-26.58M	$-13.56M	$-12.33M	—
Operating Cash Flow (USD)	$-10.25M	$-13.63M	$-3.19M	$-10.15M	$-7.06M	$-11.03M	$-25.18M	$-26.32M	$-19.00M	$-11.12M	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 5 days ago 12 years · 49 quarters

Aqua Metals, Inc.

Analytical Summary

12-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

Percentile Rankings

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