ASTI Nasdaq Semiconductors & Related Devices Financials FY2016βFY2025
Ascent Solar Technologies, Inc. had $0.1M of revenue in fiscal 2025, up 83.3% on the year before. Over five years, revenue changed +2.9% a year on average.
Last close Β· Oct 23, 2026
$1.71
3.4%Hi! I read Ascent Solar Technologies, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+83.3%
Yes. Sales grew 83.3% last year.
Does it make a profit?
β10,199.0%
No. It lost money last year.
Does profit turn into cash?
β9,031.3%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 7
Weak. It passes 3 of 7 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Ascent Solar Technologies, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 9, 2026
Monday Β· in 15 days
No past results dates on file yet.
KIRA Β· Ascent Solar Technologies, Inc. had $0.1M of revenue in fiscal 2025, up 83.3% on the year before. Over five years, revenue changed +2.9% a year on average. Its operating margin was β10,253.1%, up 10,121.8Β pts: of every 100 in sales, about β10,253 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
KIRA Β· Ascent Solar Technologies, Inc. lost $7.8M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$6.9M in fiscal 2025, β9,031.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Ascent Solar Technologies, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $6.0M | $11.5M | $1.0M | $3.2M | $2.8M |
| Debt incl. finance leases | β | $14.9M | $0.4M | β | β |
| Debt / equity | β | 16.6x | β | β | β |
| Interest coverage | β18.5x | β | β | β | β |
| Current ratio | 2.2x | 2.5x | 0.3x | 1.6x | 1.5x |
| Quick ratio | 2.1x | 2.4x | 0.2x | 1.4x | 1.3x |
| Total assets | $12.8M | $18.7M | $6.3M | $7.1M | $6.3M |
| Total liabilities | $15.7M | $14.1M | $7.8M | $3.8M | $3.0M |
| Shareholders' equity | β$2.8M | $0.9M | β$1.5M | $3.4M | $3.3M |
| Net debt (β = net cash) | β | $3.4M | β$0.6M | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
KIRA Β· Ascent Solar Technologies, Inc. passes 3 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 2 / 8 | 2 / 8 | 4 / 7 | 2 / 7 | 4 / 7 | 4 / 8 | 3 / 7 | 3 / 7 |
| Accruals ratio | β189.4% | β61.5% | β170.8% | β36.1% | 69.2% | 33.7% | β58.7% | β60.3% | β10.5% | β13.8% |
| Altman Z'' | β130.41 | β192.91 | β248.54 | β284.83 | β196.99 | β111.39 | β81.56 | β271.01 | β230.03 | β263.10 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.7M | $0.6M | $0.9M | $0.6M | $0.1M | $0.6M | $1.2M | $0.5M | $0.0M | $0.1M |
| Research and development | $6.6M | $4.8M | $2.8M | $1.3M | $1.2M | $4.1M | $6.0M | $3.2M | $2.3M | $2.4M |
| Operating income | β$24.6M | β$14.1M | β$6.6M | β$3.3M | β$2.5M | β$8.8M | β$17.1M | β$15.6M | β$8.5M | β$7.9M |
| Interest expense | β | β | β | $2.1M | $0.4M | $0.5M | β | β | β | β |
| Income tax | β | β | β | β | β | β | β | β | β | $0.0M |
| Net income | β$38.9M | β$18.6M | β$16.0M | β$4.9M | $1.6M | β$6.0M | β$19.8M | β$17.1M | β$9.1M | β$7.8M |
| Net income to common | β | β | β | β | β | β | β$17.1M | β$35.1M | β$9.2M | β$7.9M |
| Diluted EPS | β$0.42 | β$3.15 | β$0.69 | β$0.00 | $0.32 | β$1.54 | β$132.00 | β$3,419.00 | β$10.38 | β$3.09 |
| Diluted shares | 0.09B | 0.01B | 0.02B | 1.54B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||||||
| Cash from operations | β$16.9M | β$12.6M | β$4.0M | β$2.7M | β$2.9M | β$9.4M | β$10.5M | β$9.5M | β$8.4M | β$6.9M |
| Capital expenditure | $0.1M | $0.0M | $0.0M | $0.0M | β | $0.3M | $0.2M | $3.9M | $0.0M | $0.0M |
| Free cash flow | β$16.9M | β$12.6M | β$4.0M | β$2.7M | β | β$9.7M | β$10.7M | β$13.4M | β$8.4M | β$6.9M |
| Depreciation and amortization | $3.6M | $1.2M | $0.4M | $0.2M | $0.2M | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M |
| Stock-based compensation | $0.9M | $0.1M | $0.0M | $0.0M | β | β | $5.5M | $2.2M | $1.0M | $1.1M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $0.1M | $0.1M | $0.0M | β | $0.2M | $6.0M | $11.5M | $1.0M | $3.2M | $2.8M |
| Total debt | $5.7M | $5.5M | $5.4M | $5.9M | β | β | $14.9M | $0.4M | β | β |
| Current assets | $4.2M | $1.6M | $1.0M | $0.6M | $0.8M | $6.9M | $12.4M | $1.5M | $3.7M | $3.4M |
| Current liabilities | $18.1M | $15.0M | $23.9M | $30.7M | $9.2M | $3.1M | $5.0M | $5.8M | $2.3M | $2.2M |
| Inventory | $2.6M | $1.0M | $0.7M | $0.5M | $0.5M | $0.6M | $0.6M | $0.4M | $0.5M | $0.5M |
| Property and equipment, net | $5.7M | $4.6M | $4.4M | $4.2M | $0.0M | $0.3M | $0.6M | $1.0M | $0.2M | $0.2M |
| Intangible assets | $1.6M | $1.5M | $0.9M | $0.8M | $0.4M | $0.1M | $0.1M | $0.1M | $0.0M | $0.0M |
| Total assets | $11.6M | $7.8M | $6.3M | $5.6M | $7.4M | $12.8M | $18.7M | $6.3M | $7.1M | $6.3M |
| Total liabilities | $25.6M | $20.2M | $28.9M | $30.7M | $27.6M | $15.7M | $14.1M | $7.8M | $3.8M | $3.0M |
| Preferred stock | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | β$14.0M | β$15.2M | β$22.6M | β$25.1M | β$20.2M | β$2.8M | $0.9M | β$1.5M | $3.4M | $3.3M |
| Margins | ||||||||||
| Operating margin | β1,409.4% | β2,203.1% | β761.8% | β509.6% | β3,685.4% | β1,446.2% | β1,394.8% | β3,413.3% | β20,374.9% | β10,253.1% |
| EBITDA margin | β1,203.4% | β2,016.6% | β717.6% | β471.5% | β3,457.7% | β1,436.8% | β1,388.6% | β3,392.6% | β20,198.1% | β10,149.3% |
| Net margin | β2,223.3% | β2,890.1% | β1,859.5% | β762.6% | 2,428.5% | β987.2% | β1,615.5% | β3,724.6% | β21,790.7% | β10,199.0% |
| FCF margin | β967.6% | β1,962.7% | β465.7% | β426.3% | β | β1,593.4% | β873.1% | β2,922.7% | β20,105.0% | β9,031.3% |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β | β312.7% | β | β | β |
| Return on capital employed | 379.9% | 196.1% | 37.4% | 13.0% | 137.9% | β89.7% | β124.5% | β2,909.8% | β175.4% | β190.8% |
| Return on equity | β | β | β | β | β | β | β | β | β985.3% | β233.2% |
| Return on assets | β334.5% | β191.4% | β227.9% | β81.6% | 24.9% | β59.3% | β125.3% | β136.7% | β135.8% | β116.2% |
| Return on tangible equity | β | β | β | β | β | β | β2,083.5% | β | β273.4% | β237.3% |
| Growth | ||||||||||
| Revenue growth | β | β63.2% | 34.3% | β26.0% | β89.6% | 812.6% | 101.2% | β62.5% | β90.9% | 83.3% |
| Net income growth | β | β | β | β | β | β471.0% | β | β | β | β |
| EPS growth | β | β | β | β | β | β581.3% | β | β | β | β |
| Share count change | β | β93.7% | 293.6% | 6,539.9% | β99.8% | 4.6% | β96.2% | β93.1% | 8,468.0% | 189.6% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | β | β | 16.6x | β | β | β |
| Interest coverage | β | β | β | β1.5x | β5.6x | β18.5x | β | β | β | β |
| Current ratio | 0.2x | 0.1x | 0.0x | 0.0x | 0.1x | 2.2x | 2.5x | 0.3x | 1.6x | 1.5x |
| Quick ratio | 0.1x | 0.0x | 0.0x | 0.0x | 0.0x | 2.1x | 2.4x | 0.2x | 1.4x | 1.3x |
| Capital allocation | ||||||||||
| Capex / revenue | 3.0% | 1.0% | 0.0% | 1.0% | β | 46.1% | 13.9% | 841.8% | 1.0% | 41.7% |
| Stock comp / revenue | 50.8% | 19.2% | 3.4% | 3.3% | β | β | 448.0% | 489.5% | 2,410.0% | 1,476.2% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 2.0 | 2.0 | 4.0 | 2.0 | 4.0 | 4.0 | 3.0 | 3.0 |
| Altman Z'' | β130.4 | β192.9 | β248.5 | β284.8 | β197.0 | β111.4 | β81.6 | β271.0 | β230.0 | β263.1 |
| Accruals ratio | β189.4% | β61.5% | β170.8% | β36.1% | 69.2% | 33.7% | β58.7% | β60.3% | β10.5% | β13.8% |
Source: SEC EDGAR XBRL filings (CIK 0001350102). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
