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