Saturday 17 October 2026 Export AEMD’s income statement to Excel — free account

Aethlon Medical, Inc.

Aethlon Medical, Inc.’s revenue for fiscal 2023 (year ended March 2023) was $574,200.00, up 95.2% from fiscal 2022. In the quarter to June 2026, EPS grew 90.5% and free cash flow fell 11.1%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three.

5.15 0.12 −2.28%

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Market cap: $8.5M
P/E: 0.0×
Fwd P/E: −0.3×
Dividend yield: —
F-score: 5/9
Altman Z: −10.76
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 8.45

Revenue 0.74

Net Income (6.94)

Free Cash Flow (7.20)

Net Debt (4.93)

Current Ratio 5.42

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E (0.34)

P/S ratio 2.69

P/B ratio 0.38

Past 5Y EPS Growth —

This Y EPS Growth 87.76%

Next Y EPS Growth 70.59%

Next Y revenue growth (7.12%)

Next 5Y EPS Growth 76.48%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 9.25%

10-year low 10-year high

P/B against its own 10 years 13.19%

10-year low 10-year high

EV/FCF against its own 10 years 33.94%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2024	2025	2026	Q'26
Cash	5	6	5	5
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	6	6	6	6

	2024	2025	2026	Q'26
Payables	1	1	0	0
ST’ Debt	—	—	—	—
Other	1	1	1	0
	2	2	1	1

Compound Annual Growth %

	10y	5y	3y
Sales	(7.33%)	30.87%	(4.06%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	12.52%	(12.07%)	(31.29%)

Revenue $m

	Jun	Sep	Dec	Mar	Year
’26	—	—	—	—	—
’23	—	—	—	—	1
’22	0	0	0	0	0
’21	—	—	1	0	1
’20	0	—	0	0	1
’19	0	—	—	0	0
’18	—	—	0	0	0

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	(2)	—	—	—	—
’26	(2)	(2)	(2)	(2)	(7)
’25	(2)	(2)	(2)	(2)	(8)
’24	(2)	(3)	(2)	(3)	(10)
’23	(3)	(3)	(2)	(3)	(11)
’22	(2)	(2)	(3)	(3)	(10)
’21	(1)	(1)	(2)	(2)	(7)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	(2)	—	—	—	—
’26	(2)	(2)	(2)	(2)	(7)
’25	(2)	(2)	(2)	(2)	(8)
’24	(3)	(3)	(2)	(3)	(10)
’23	(3)	(4)	(2)	(3)	(11)
’22	(2)	(2)	(3)	(3)	(10)
’21	(1)	(1)	(2)	(2)	(7)

Fiscal quarters ending in the months shown.

EPS $

	Jun	Sep	Dec	Mar	Year
’26	(4.02)	—	—	—	—
’26	(42.50)	(18.70)	(12.25)	20.33	(53.05)
’25	(136.00)	(80.00)	(52.00)	(160.09)	(429.00)
’24	(520.00)	(488.00)	(548.00)	(364.00)	(1.94k)
’23	(760.00)	(720.00)	(480.00)	(440.00)	(2.36k)
’22	(640.00)	(520.00)	(640.00)	(1.00k)	(2.84k)
’21	(600.00)	(600.00)	(800.00)	(600.00)	(2.60k)

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	47,400.00	49,200.00	3,040.00	3,840.00	5,800.00	920.00	560.00	96.00	12.20	1.41	Analyst estimates 2027–2029 Powerpack
	High	310,200.00	122,400.00	102,600.00	17,360.00	49,960.00	9,840.00	3,480.00	916.00	380.00	17.20
People
People	Employees	7	6	6	8	10	14	15	14	9	9
	Revenue/emp, $m	0.06	0.02	0.04	0.08	0.07	0.02	0.04	0.00	0.00	0.00
Income, $m
Income, $m	Revenue	0	0	0	1	1	0	1	—	—	—
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	—	—	—
	EBT	(7)	(6)	(6)	(6)	(8)	(10)	(12)	(12)	(13)	(7)
	EBT margin, %	(1,863.48)	(3,810.03)	(2,708.84)	(981.24)	(1,197.31)	(3,542.11)	(2,095.05)	0.00	0.00	0.00
	Net income	(7)	(6)	(6)	(6)	(8)	(10)	(12)	(12)	(13)	(7)
	Depreciation	0	0	0	0	0	0	0	0	0	0
Per share, $
Per share, $	Revenue	3,921.00	748.00	765.33	722.44	219.70	79.51	112.59	0.00	0.00	0.00
	Earnings	(56,371.82)	(27,586.21)	(20,389.81)	(7,480.00)	(2,600.00)	(2,840.00)	(2,360.00)	(1,944.00)	(429.00)	(53.05)
	Cash flow	(35,059.00)	(19,553.50)	(14,311.33)	(5,775.11)	(2,254.97)	(2,639.78)	(2,059.82)	(1,607.90)	(245.05)	(51.92)
	Capex	(164.00)	(124.00)	0.00	(168.56)	(19.97)	(94.38)	(184.92)	(39.83)	0.00	(0.03)
	Free cash flow	(35,223.00)	(19,677.50)	(14,311.33)	(5,943.67)	(2,274.93)	(2,734.16)	(2,244.75)	(1,647.73)	(245.05)	(51.94)
	Book value	5,954.00	30,164.00	7,663.67	10,308.22	3,097.90	4,592.27	2,953.76	915.29	164.21	36.25
	Shares, m	0	0	0	0	0	0	0	0	0	0
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—
	P/S	32.88	31.28	42.25	7.49	19.04	73.45	10.53	—	—	—
	P/B	32.95	2.78	6.97	0.59	2.62	1.27	0.51	—	—	—
	EV/Sales	31.14	19.86	34.45	(4.47)	12.01	18.38	(8.02)	—	—	—
	EV/FCF	(5.27)	(2.71)	(3.03)	0.61	(2.25)	(0.53)	0.52	—	—	—
Cash, $m
Cash, $m	Operating cash flow	(4)	(4)	(4)	(5)	(7)	(10)	(11)	(10)	(8)	(7)
	Capex	0	0	—	0	0	0	(1)	0	—	0
	Free cash flow	(4)	(4)	(4)	(5)	(7)	(10)	(11)	(10)	(8)	(7)
Balance, $m
Balance, $m	Working capital	1	7	2	9	9	16	14	4	4	4
	Total debt	1	1	1	0	0	1	1	—	—	—
	Net debt	(1)	(6)	(4)	(10)	(10)	(17)	(15)	(5)	(6)	(5)
	Shareholders’ equity	1	6	2	9	9	17	15	6	5	5
Returns, %
Returns, %	ROA	(341.96)	(125.12)	(107.97)	(87.85)	(74.91)	(69.24)	(65.15)	(94.80)	(171.58)	(104.46)
	ROIC	0.00	0.00	0.00	0.00	0.00	0.00	(1,399.70)	(2,435.36)	0.00	0.00
	ROE	(693.69)	(171.38)	(148.70)	(110.12)	(84.94)	(79.25)	(75.06)	(117.21)	(245.88)	(142.89)

Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2023 · latest quarter Mar 2022

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PETV PetVivo Holdings, Inc.	$12.9M	— (loss-making)	— (loss-making)	+13.48% (above 0%: growing)	n/m	+40.13% (above 0%: growing)	66.14%	(476.54%)	Compare
BTCY Biotricity Inc.	$10.9M	— (loss-making)	— (loss-making)	+10.40% (above 0%: growing)	n/m	+235.83% (above 0%: growing)	82.55%	3.70%	Compare
CTSO Cytosorbents Corporation	$9.7M	— (loss-making)	— (loss-making)	+0.17% (above 0%: growing)	n/m	+64.90% (above 0%: growing)	73.18%	(27.39%)	Compare
NMTC NeuroOne Medical Technologies Corporation	$9.5M	— (loss-making)	— (loss-making)	+16.33% (above 0%: growing)	n/m	+26.91% (above 0%: growing)	59.94%	(122.87%)	Compare
BMRA Biomerica, Inc.	$8.6M	— (loss-making)	11.4×	+16.96% (above 0%: growing)	n/m	−35.05% (below 0%: shrinking)	(7.88%)	(174.77%)	Compare
AEMD Aethlon Medical, Inc.	$8.5M	— (loss-making)	— (loss-making)	+335.00% (above 0%: growing)	n/m	−11.13% (below 0%: shrinking)	0.00%	0.00%
TNON Tenon Medical, Inc.	$7.8M	— (loss-making)	— (loss-making)	+126.77% (above 0%: growing)	n/m	−21.78% (below 0%: shrinking)	63.64%	(262.24%)	Compare
WOK WORK Medical Technology Group LTD	$6.0M	—	—	—	—	−948.94% (below 0%: shrinking)	—	—	Compare
AMIX Autonomix Medical, Inc.	$5.7M	— (loss-making)	—	—	n/m	−36.10% (below 0%: shrinking)	—	0.00%	Compare
Median of peers	$9.1M	—	—	+14.91%	—	+2.57%	64.89%	(122.87%)

All 149 Medical Devices stocks →

Aethlon Medical, Inc. (AEMD) key facts

Strength: Aethlon Medical, Inc.’s revenue for fiscal 2023 (year ended March 2023) was $574,200.00, up 95.2% from fiscal 2022.
Aethlon Medical, Inc. (AEMD) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, AEMD traded at $5.15, a market capitalization of $8.5 million.
Return on equity was −142.9% and debt-to-equity 0.00.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is −10.76 (distress zone) for fiscal 2023.

Source: company filings (standardised) and stockrow calculations.