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

Aqua Metals, Inc.

Aqua Metals, Inc.’s revenue for fiscal 2023 (year ended December 2023) was $25,000.00, up 525.0% from fiscal 2022. In the quarter to June 2026, EPS grew 82.4% and free cash flow fell 257.6%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

1.70 0.01 +0.59%

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Market cap: $6.0M
P/E: 65.9×
Fwd P/E: −0.8×
Dividend yield: —
F-score: 4/9
Altman Z: −5.53
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

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
Piotroski F-Score Full definition →	—	—	—	4	3	4	3	4	—	—
P/E ratio Full definition →	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—
P/S ratio Full definition →	—	0.00	13.97	8.10	59.63	98.51	305.94	244.18	—	—
Altman Z-Score Full definition →	—	(0.08)	(1.58)	(3.19)	19.52	(0.16)	(4.95)	(5.53)	—	—
Altman Z″-Score (non-manufacturers) Full definition →	—	1.28	(4.35)	(6.22)	(9.22)	(14.85)	(18.63)	(20.25)	—	—
P/FCF ratio Full definition →	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—
P/Operating CF Full definition →	—	(8.51)	(8.97)	(5.99)	(89.63)	(26.02)	(59.07)	(13.17)	—	—
P/B ratio Full definition →	—	0.82	1.24	0.80	5.86	3.13	4.17	2.74	—	—
Price to Tangible BV Full definition →	—	0.84	1.27	0.81	6.02	3.20	4.26	2.77	—	—
EV/Sales Full definition →	—	0.00	12.13	9.10	58.92	94.24	296.35	211.56	—	—
EV/EBITDA Full definition →	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—
EV/Operating CF Full definition →	—	(2.17)	(2.05)	(1.76)	(16.36)	(11.66)	(8.32)	(19.35)	—	—
EV/FCF Full definition →	—	(1.45)	(1.80)	(1.17)	(12.68)	(9.01)	(6.42)	(7.08)	—	—
Quick Ratio Full definition →	6.59	6.18	1.83	2.58	1.90	2.29	1.84	3.60	0.50	2.44
Current Ratio Full definition →	6.79	6.70	1.93	2.80	2.42	3.05	1.89	3.97	0.57	3.03
Net Debt/EBITDA Full definition →	1.39	0.57	0.26	(0.02)	0.51	0.48	0.47	0.59	0.18	0.49
Debt/Assets Full definition →	13.77%	14.21%	17.76%	12.10%	0.86%	0.99%	0.82%	8.70%	0.00%	0.00%
Debt/Equity Full definition →	0.17	0.18	0.25	0.17	0.01	0.01	0.01	0.11	0.00	0.00
Asset Turnover Full definition →	0.00	0.03	0.06	0.07	0.00	0.01	0.00	0.00	0.00	0.00
Operating CF/Net income Full definition →	0.82	0.71	0.65	0.56	0.43	0.39	0.66	0.13	0.56	0.45
Capex/Depreciation Full definition →	(31.53)	(2.68)	(0.68)	(3.06)	(1.05)	(1.57)	(2.80)	(3.95)	(5.86)	2.70
Interest Coverage Full definition →	(20.28)	(14.12)	(10.74)	(11.73)	(9.50)	(831.67)	(124.53)	(39.39)	(41.55)	(34.98)
ROE Full definition →	(29.91%)	(45.85%)	(73.82%)	(89.88%)	(63.82%)	(62.02%)	(63.70%)	(101.91%)	(116.08%)	(146.04%)
ROA Full definition →	(22.82%)	(36.42%)	(55.21%)	(63.62%)	(49.26%)	(53.19%)	(46.22%)	(71.35%)	(81.90%)	(98.31%)
ROIC Full definition →	(20.12%)	(33.23%)	(55.27%)	(50.57%)	(38.62%)	(55.34%)	(68.95%)	(122.66%)	(122.52%)	(368.23%)
Return on Tangible Assets Full definition →	(20.94%)	(39.33%)	(71.24%)	(80.95%)	(86.49%)	(169.60%)	(84.60%)	(99.60%)	(189.83%)	(153.64%)
Average Days of Receivables Full definition →	—	154.18	59.48	1,324.75	108.15	2,508.58	1,417,933.75	978.20	—	—
Research and Development Expense of Revenue Full definition →	0.00%	388.07%	101.19%	31.90%	950.93%	539.31%	45,325.00%	6,964.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	0.00%	330.03%	319.49%	396.27%	8,331.48%	5,600.00%	245,375.00%	46,552.00%	0.00%	0.00%
Intangible Assets out of Total Assets Full definition →	0.02	0.02	0.02	0.01	0.02	0.02	0.01	0.01	0.01	0.00
Share Based Compensation of Revenue Full definition →	0.00%	51.77%	26.99%	86.29%	3,307.41%	1,272.25%	56,375.00%	10,136.00%	0.00%	0.00%
Graham Net Nets Full definition →	—	0.21	0.02	0.19	0.02	0.08	0.12	0.15	—	—
Graham Number Full definition →	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—
Earnings Yield Full definition →	—	(55.04%)	(65.38%)	(116.56%)	(14.00%)	(21.14%)	(17.39%)	(34.26%)	—	—
Free Cash Flow Yield Full definition →	—	(58.85%)	(48.27%)	(96.26%)	(7.79%)	(10.61%)	(15.09%)	(12.23%)	—	—
Revenue per Share Full definition →	0.00	20.57	26.05	18.65	0.35	0.49	0.01	0.05	0.00	0.00
Operating CF per Share Full definition →	(145.75)	(187.21)	(154.09)	(96.35)	(36.24)	(20.18)	(26.77)	(6.80)	(21.23)	(6.86)
Capex per Share Full definition →	(384.74)	(92.91)	(21.62)	(48.99)	(10.52)	(5.93)	(7.94)	(11.77)	(12.30)	2.65
Free Cash Flow per Share Full definition →	(530.50)	(280.12)	(175.71)	(145.35)	(46.76)	(26.11)	(34.71)	(18.57)	(33.54)	(4.21)
Cash per Share Full definition →	348.39	224.56	122.32	28.99	21.47	23.25	18.68	35.18	6.35	7.23
Shareholders Equity per Share Full definition →	746.92	580.94	293.27	189.78	102.33	78.67	55.17	55.49	25.30	9.88
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	746.92	580.94	293.27	189.78	102.33	78.67	55.17	55.49	25.30	9.88
Free Cash Flow Full definition →	(40.48)	(28.43)	(30.01)	(37.98)	(14.23)	(9.14)	(13.16)	(8.72)	(21.53)	(6.30)
Working Capital Full definition →	23.34	21.85	10.95	17.69	4.90	8.36	10.90	13.69	(3.54)	8.98
Capital Expenditures Full definition →	(29.36)	(9.43)	(3.69)	(12.80)	(3.20)	(2.07)	(3.01)	(5.53)	(7.90)	3.96
Net Current Asset Value Full definition →	12.83	10.21	1.47	7.64	4.36	6.70	10.62	10.76	(5.48)	8.47
EV/EBIT Full definition →	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—
Capex to Sales Full definition →	0.00	4.52	0.83	2.63	29.64	11.99	752.75	221.12	0.00	0.00
Price to Operating Income Full definition →	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—
Other line items
Depreciation/Fixed assets Full definition →	0.02	0.08	0.12	0.11	0.12	0.56	0.15	0.14	0.08	0.25
Cash ROIC Full definition →	(43.33%)	(30.79%)	(35.87%)	(57.92%)	(37.47%)	(25.38%)	(46.54%)	(19.16%)	(105.94%)	(24.61%)
Accounts Receivable Turnover Full definition →	—	2.60	5.54	0.53	0.01	0.28	0.00	0.00	—	—
Accounts Payable Turnover Full definition →	0.34	6.34	12.92	7.17	1.72	6.27	4.50	4.32	4.71	2.71
Inventory Turnover Full definition →	1.26	14.70	22.72	24.53	4.66	11.56	19.75	10.41	12.23	9.73
Average Days of Payables Full definition →	704.02	54.94	33.48	71.07	103.45	35.63	99.11	106.68	62.09	82.95
Days of Inventory on Hand Full definition →	26.42	47.40	12.27	18.50	72.72	6.40	25.63	53.98	12.70	37.00
Average Receivables Full definition →	—	0.80	0.80	9.21	8.86	0.61	8.36	7.80	—	—
Average Payables Full definition →	2.38	1.50	1.76	3.46	3.19	1.12	0.88	1.46	1.53	0.89
Average Inventory Full definition →	0.65	0.65	1.00	1.01	1.17	0.61	0.20	0.60	0.59	0.25
Average Assets Full definition →	59.40	72.99	72.91	70.41	52.30	34.20	33.39	33.55	29.98	23.04
Average Common Equity Full definition →	45.33	57.98	54.53	49.84	40.36	29.34	24.22	23.49	21.15	15.51

Fold the line items

Columns are period end dates · fundamentals updated 5 Oct 2026

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