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Aquestive Therapeutics, Inc.

AQST

$3.94 ▲ +0.02 (+0.64%) at close

10 Visible periods

31 Metrics

Peer-ranked Benchmarks

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Health

Fair

Neutral

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Analytical Summary

Aquestive Therapeutics, Inc. shows mixed fundamentals. However, watch Operating Margin (%) and Profit Margin (%) which show concerning trends. Consider comparing against peers in the Healthcare sector before making investment decisions.

Market Cap $421.3M

Dividend Yield —

Revenue Growth -22.6% ↘

Op. Margin -159.5% ↘

ROIC -626.7% ↘

FCF / Share $-0.50 ↘

Trailing P/E —

Price / Book —

FCF Yield —

Debt / Equity -1.34

info Valuation on last close. End-of-day price, Aug 7, 2026.

10-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$44.55M

↓ -22.6% —

Net Income Profit after all expenses

$-83.78M

↓ -89.8% —

Operating Margin Operating profit as % of sales

-159.5%

↓ -198.4% 1th

FCF / Share Free cash flow per share

$-0.50

↓ -19.7% —

Long-Term Debt Long-term obligations

$45.00M

— 0.0% —

trending_up

Bullish Indicators

Debt to EquityDebt to Equity is in the top quartile (lower is better)
Return on Common Equity (%)Return on Common Equity (%) is in the top quartile

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↓

Returns ↑

100

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 ↗
Revenue Growth YoY (%)	-22.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-383%)	13.8% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+72%)	6.1% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-24%)	-6.2% Weak ↑ Weak Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-178%)	10.9% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+36%)	-12.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-261%)	-22.0% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-375%)	0.8% Caution Caution Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-90%)	—	—
EPS Growth YoY (%)	-52.9% Weak → Weak Stable Year-over-year change in earnings per share Optimal: > 10%	-292.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	88.4% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	39.5% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-11.4% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—
Net Income Growth YoY (%)	-89.8% Weak ↑ Weak Improving Year-over-year change in net income	-460.8% Weak ↓ Weak Declining Year-over-year change in net income	85.5% Excellent ↑ Excellent Improving Year-over-year change in net income	22.9% Good ↑ Good Improving Year-over-year change in net income	-26.5% Weak ↑ Weak Improving Year-over-year change in net income	15.8% Good ↑ Good Improving Year-over-year change in net income	-7.9% Weak Weak Year-over-year change in net income	-586.3% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-19.7% Weak ↑ Weak Improving Year-over-year change in free cash flow	-244.0% Weak ↓ Weak Declining Year-over-year change in free cash flow	45.9% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	75.0% Excellent Excellent Year-over-year change in free cash flow	34.9% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—
Revenue CAGR 3Y (%)	-2.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	4.2% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	3.3% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	-3.2% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-9.0% Weak Weak Compound annual revenue growth over 3 years	-11.8% Weak Weak Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	-0.6% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	1.8% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	-5.6% Weak Weak Compound annual revenue growth over 5 years	-6.6% Weak Weak Compound annual revenue growth over 5 years	—	—	—	—	—	—

💰 Are margins durable? 5 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 ↗
Operating Margin (%) (%)	-159.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1163%)	-53.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-456%)	-29.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-299%)	-88.2% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-688%)	-68.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-555%)	-93.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-724%)	-100.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-767%)	-72.6% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-584%)	-0.2% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-101%)	—
Effective Tax Rate (%) (%)	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%	-3.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent → Excellent Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent → Excellent Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent → Excellent Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent → Excellent Stable 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%	—
Profit Margin (%) (%)	-188.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1667%)	-76.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-739%)	-15.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-230%)	-114.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1051%)	-138.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1256%)	-121.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1114%)	-125.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1149%)	-91.0% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-859%)	-13.4% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-211%)	—
FCF Margin (%) (%)	-119.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-62.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-14.6% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-22.7% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-66.7% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-100.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-115.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-22.0% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	5.6% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	0.63x Weak → Weak Stable Free cash flow relative to reported net income Optimal: > 1x	0.81x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.94x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.20x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.48x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.82x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.92x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.24x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	-0.42x Weak Weak 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 ↗
Return on Invested Capital (%)	-626.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	203.0% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	25.4% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	35.5% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	42.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	88.4% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-82.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-485.5% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	0.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-44.3% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	-30.3% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-26.3% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-73.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-55.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-68.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-67.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-56.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	-0.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	248.9% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+1559%)	73.4% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+389%)	7.4% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-51%)	45.9% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+206%)	85.9% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+473%)	115.0% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+667%)	—	—	13.0% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-13%)	—

⚖️ 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 ↗
Debt to Equity (x)	-1.34x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-323%)	-0.75x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-225%)	-0.42x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-170%)	—	—	—	-11.43x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-2006%)	—	—	—
Interest Coverage (x)	-11.65x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-4.34x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-2.38x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-6.42x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-3.45x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-3.88x Weak → Weak Stable Operating income divided by interest expense Optimal: > 5x	-5.65x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-6.35x Weak Weak Operating income divided by interest expense Optimal: > 5x	-0.01x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$45.00M	$45.00M	$45.00M	—	—	—	$20.67M	$-60.60M	$-17.38M	$-9.21M
Debt / EBITDA (x)	-0.64x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.49x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-3.23x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	-1.41x 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 ↗
Revenue per Share (USD)	$0.42	$0.66	$0.83	$0.98	$1.33	$1.36	—	—	—	—
Basic EPS, GAAP (USD)	$-0.78	$-0.51	$-0.13	$-1.12	$-1.85	$-1.66	—	—	—	—
Free Cash Flow per Share (USD)	$-0.50	$-0.41	$-0.12	$-0.22	$-0.89	$-1.37	—	—	—	—
Book Value per Share (USD)	$-0.28	$-0.66	$-1.55	$-2.16	$-1.99	$-1.40	$-0.18	$0.40	—	—
Tangible Book Value per Share (USD)	$-0.28	$-0.66	$-1.55	$-2.16	$-1.99	$-1.40	$-0.18	$0.40	—	—
Basic Weighted Avg Shares (shares)	106.93M	86.73M	61.26M	48.73M	38.08M	33.65M	—	—	—	—

🏦 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 ↗
Working Capital (USD)	$101.66M	$69.36M	$22.66M	$360.00K	$25.30M	$23.52M	$49.76M	$41.25M	$12.81M	—
LT Debt (USD)	$45.00M	$45.00M	$45.00M	—	—	—	$70.00M	—	—	—
Total Equity (USD)	$-33.66M	$-60.16M	$-106.49M	$-118.55M	$-82.13M	$-48.50M	$-6.12M	$10.08M	$-68.60M	$-57.20M

📋 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 ↗
Sales/Revenue/Turnover (USD)	$44.55M	$57.56M	$50.58M	$47.68M	$50.83M	$45.85M	$52.61M	$67.43M	$66.92M	—
Depreciation Expense (USD)	$548.00K	$640.00K	$1.15M	$2.27M	$2.91M	$3.39M	$2.85M	$3.19M	$3.75M	—
Net Income, GAAP (USD)	$-83.78M	$-44.14M	$-7.87M	$-54.41M	$-70.54M	$-55.78M	$-66.25M	$-61.38M	$-8.94M	—
Operating Cash Flow (USD)	$-52.43M	$-35.76M	$-6.38M	$-9.82M	$-32.98M	$-45.46M	$-60.21M	$-12.99M	$5.82M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 10 years · 38 quarters

Aquestive Therapeutics, Inc.

Analytical Summary

10-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

Percentile Rankings

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