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Friday 6 November 2026
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Aquestive Therapeutics, Inc.
AQST Healthcare Drug Manufacturers Specialty & Generic
Aquestive Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $44.5 million, down 22.6% from fiscal 2024.
- Revenue
- −41.0%
- EPS
- +6.14%
- Free cash flow
- +40.8%
- Total debt
- +69.5%
Quarter to September 2026, against a year earlier
3.58
0.08
−2.19%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | — | 4 | 3 | 5 | 3 | 3 | 5 | 4 | 2 |
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
— | — | (0.48) | (2.06) | (4.25) | (5.72) | (9.07) | (6.84) | (3.48) | (2.19) |
P/S ratio |
4.07 | 4.07 | 1.94 | 2.81 | 3.93 | 2.91 | 0.92 | 2.43 | 5.36 | 15.51 |
Altman Z″-Score (non-manufacturers) |
(8.85) | (7.55) | (2.84) | (5.85) | (12.24) | (15.18) | (23.40) | (17.98) | (9.62) | (8.08) |
P/FCF ratio |
37.99 | 37.99 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
— | (4.28) | (5.57) | (1.55) | 8.88 | (4.85) | (6.42) | (1.74) | (3.26) | (1.91) |
P/Operating CF |
602.71 | 602.71 | (46.43) | (13.95) | (13.32) | (18.38) | 5.21 | (24.91) | (47.58) | (81.56) |
P/B ratio |
0.00 | 0.00 | 12.95 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Tangible BV |
0.00 | 0.00 | 13.55 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
4.53 | 4.53 | 1.67 | 3.01 | 3.98 | 3.38 | 1.05 | 2.51 | 4.69 | 13.40 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
36.02 | 36.02 | (8.67) | (2.63) | (4.02) | (5.20) | (5.10) | (19.87) | (7.54) | (11.39) |
EV/FCF |
42.27 | 42.27 | (7.60) | (2.61) | (3.97) | (5.06) | (4.61) | (17.19) | (7.51) | (11.27) |
Quick Ratio |
1.85 | 1.53 | 2.04 | 3.37 | 1.84 | 1.83 | 0.81 | 1.77 | 4.18 | 2.92 |
Current Ratio |
2.16 | 1.83 | 2.25 | 3.68 | 2.11 | 2.15 | 1.01 | 2.24 | 4.68 | 3.14 |
Net Debt/EBITDA |
(34.76) | 5.07 | 0.41 | (0.23) | (0.07) | (0.84) | (0.16) | (0.31) | 2.02 | 1.57 |
Debt/Assets |
98.12% | 105.55% | 49.05% | 76.88% | 54.59% | 83.16% | 58.61% | 47.91% | 32.04% | 17.15% |
Debt/Equity |
(2.20) | (1.72) | 4.23 | (9.86) | (0.71) | (0.63) | (0.28) | (0.26) | (0.54) | (0.82) |
Asset Turnover |
1.26 | 1.62 | 1.04 | 0.64 | 0.65 | 0.81 | 0.80 | 0.88 | 0.72 | 0.34 |
Operating CF/Net income |
0.68 | (0.51) | 0.21 | 0.91 | 0.81 | 0.47 | 0.18 | 0.81 | 0.81 | 0.63 |
Capex/Depreciation |
0.00 | (0.37) | (0.37) | (0.14) | (0.09) | (0.14) | (0.97) | (0.30) | (0.01) | (0.05) |
Interest Coverage |
(1.54) | (0.01) | (6.35) | (5.65) | (3.29) | (1.54) | (3.38) | (2.02) | (1.83) | (4.15) |
| 11.75% | 11.24% | 126.18% | (3,347.45%) | 204.26% | 108.00% | 54.22% | 6.99% | 52.97% | 178.61% | |
| (28.95%) | (27.69%) | (94.45%) | (80.14%) | (78.92%) | (112.97%) | (91.40%) | (13.75%) | (55.57%) | (63.99%) | |
ROIC |
0.00% | (4.32%) | 0.00% | (673.16%) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Return on Tangible Assets |
(43.20%) | (43.48%) | (114.82%) | (111.37%) | (183.53%) | (232.42%) | (1,224.07%) | (29.33%) | (60.33%) | (79.38%) |
Average Days of Receivables |
76.24 | 33.70 | 35.08 | 91.10 | 55.37 | 87.03 | 36.01 | 61.13 | 46.57 | 145.55 |
Research and Development Expense of Revenue |
29.83% | 33.07% | 34.28% | 39.11% | 43.37% | 33.54% | 36.66% | 25.91% | 35.23% | 38.59% |
Selling, General and Administrative Expense of Revenue |
40.17% | 37.48% | 107.18% | 122.30% | 121.90% | 105.20% | 110.90% | 62.77% | 87.18% | 179.25% |
Intangible Assets out of Total Assets |
0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.03 | 0.02 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 44.40% | 13.44% | 14.35% | 13.41% | 9.19% | 5.32% | 12.33% | 17.12% |
Graham Net Nets |
(0.17) | (0.17) | (0.02) | (0.11) | (0.37) | (0.65) | (3.09) | (1.00) | (0.24) | (0.06) |
Graham Number |
0.00 | 0.00 | 0.00 | 3.78 | 7.31 | 9.42 | 7.90 | 1.98 | 2.85 | 2.35 |
Earnings Yield |
(11.84%) | (11.84%) | (44.89%) | (45.19%) | (30.84%) | (47.04%) | (126.67%) | (4.98%) | (14.61%) | (12.07%) |
Free Cash Flow Yield |
2.63% | 2.63% | (11.35%) | (41.25%) | (25.54%) | (22.88%) | (24.72%) | (5.99%) | (11.63%) | (7.67%) |
Revenue per Share |
2.10 | 2.66 | 3.25 | 2.07 | 1.36 | 1.34 | 0.98 | 0.83 | 0.66 | 0.42 |
Operating CF per Share |
(0.33) | 0.23 | (0.63) | (2.37) | (1.35) | (0.87) | (0.20) | (0.10) | (0.41) | (0.49) |
Capex per Share |
0.00 | (0.08) | (0.09) | (0.03) | (0.02) | (0.02) | (0.05) | (0.02) | 0.00 | (0.01) |
Free Cash Flow per Share |
(0.33) | 0.15 | (0.71) | (2.40) | (1.37) | (0.89) | (0.25) | (0.12) | (0.41) | (0.50) |
Cash per Share |
0.37 | 0.69 | 2.92 | 1.95 | 0.95 | 0.74 | 0.56 | 0.39 | 0.83 | 1.13 |
Shareholders Equity per Share |
(0.71) | (1.05) | 0.49 | (0.24) | (1.44) | (2.16) | (2.43) | (1.74) | (0.69) | (0.31) |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(0.71) | (1.05) | 0.49 | (0.24) | (1.44) | (2.16) | (2.43) | (1.74) | (0.69) | (0.31) |
Free Cash Flow |
(8.17) | 3.76 | (14.81) | (60.87) | (45.98) | (33.89) | (12.34) | (7.37) | (35.92) | (52.99) |
Working Capital |
12.53 | 12.81 | 41.25 | 49.76 | 23.52 | 25.30 | 0.36 | 22.66 | 69.36 | 101.66 |
Capital Expenditures |
(0.98) | (2.07) | (1.82) | (0.66) | (0.52) | (0.91) | (2.52) | (0.99) | (0.16) | (0.56) |
Net Current Asset Value |
(33.63) | (41.45) | (2.57) | (16.29) | (66.76) | (96.87) | (135.74) | (122.94) | (73.36) | (44.82) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.00 | 0.03 | 0.03 | 0.01 | 0.01 | 0.02 | 0.05 | 0.02 | 0.00 | 0.01 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.26 | 0.42 | 0.40 | 0.50 | 0.88 | 1.32 | 0.64 | 0.79 | 3.01 | 2.97 |
Cash ROIC |
(27.00%) | 10.32% | (13.08%) | (58.79%) | (260.65%) | 1,324.42% | 21.34% | 13.38% | (81.84%) | (46.07%) |
Accounts Receivable Turnover |
6.09 | 7.87 | 10.65 | 5.37 | 4.57 | 5.33 | 5.67 | 7.68 | 7.28 | 3.55 |
Accounts Payable Turnover |
2.50 | 2.44 | 1.40 | 1.24 | 1.34 | 1.95 | 2.12 | 2.21 | 1.86 | 0.92 |
Inventory Turnover |
5.88 | 5.74 | 4.44 | 4.91 | 4.87 | 4.61 | 3.95 | 3.32 | 2.79 | 3.04 |
Average Days of Payables |
119.54 | 176.81 | 355.40 | 220.03 | 199.59 | 202.46 | 187.26 | 156.40 | 210.09 | 587.42 |
Days of Inventory on Hand |
51.97 | 73.92 | 94.62 | 51.25 | 69.29 | 98.33 | 108.83 | 118.61 | 123.44 | 121.35 |
Average Receivables |
8.50 | 8.50 | 6.33 | 9.81 | 10.04 | 9.54 | 8.41 | 6.59 | 7.91 | 12.55 |
Average Payables |
8.12 | 8.12 | 15.02 | 16.36 | 9.68 | 7.70 | 9.13 | 9.44 | 9.61 | 20.07 |
Average Inventory |
3.45 | 3.45 | 4.73 | 4.15 | 2.66 | 3.25 | 4.91 | 6.27 | 6.41 | 6.11 |
Average Assets |
41.25 | 41.25 | 64.98 | 82.67 | 70.68 | 62.44 | 59.53 | 57.24 | 79.42 | 130.92 |
Average Common Equity |
(101.67) | (101.67) | (48.64) | 1.98 | (27.31) | (65.32) | (100.34) | (112.52) | (83.32) | (46.91) |
Columns are period end dates · fundamentals updated 5 Nov 2026