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

Fold the line items

Columns are period end dates · fundamentals updated 5 Oct 2026

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