Aspen Aerogels, Inc. Financial Ratios — ASPN Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-73.95	-117.82	-51.32	-56.38	-4.5	-8.75	-14.95	-30.91	-14.38	-21.71	-26.46	-20.02	-6.8	1.67	-59.85
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-4.81	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	7.16	- -
Gross Margin (%)	-5.71	-12.56	12.46	16.68	20.12	19.8	16.73	12.14	18.86	14.55	8.17	2.76	23.84	40.4	16.97
EBITDA Margin (%)	-29.75	-36.7	-7.52	-5.72	2.98	-1.16	-7.51	-15.11	-2.83	-11.34	-25.62	-38.82	-14.19	17.8	-2.3
Operating Margin (%)	-46.12	-51.96	-19.2	-15.67	-5.09	-9.53	-17.14	-25.45	-10.16	-21.51	-33.38	-43.94	-20.61	12.82	-18.96
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	50.12	- -
Pretax Margin (%)	-71.45	-88.48	-55.3	-64.77	-5.24	-10.21	-17.31	-33	-10.45	-21.75	-30.5	-45.87	-19.19	3.33	-142.81
Profit Margin (%)	-71.45	-88.48	-55.3	-64.77	-5.24	-10.21	-17.31	-33	-10.45	-21.75	-30.5	-45.87	-19.19	2.95	-143.69
Net Income to Common Margin (%)	-122.95	-14.09	43.62	-64.77	-5.24	-10.21	-17.31	-33	-10.45	-21.75	-30.5	-45.87	-19.19	2.95	-143.69
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.36	- -
Dvd Payout Ratio (%)	41.89	-527.92	226.78	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	110	139	- -	- -	- -	4	4	8	8	15	119	139	197	144
ST Debt	- -	1	19	- -	- -	- -	4	4	4	3	2	2	2	27	35
LT Debt	- -	109	120	- -	- -	- -	- -	- -	4	6	13	117	137	170	109
Total Debt/EBITDA	- -	-4.73	-21.41	-0.03	0.03	-0.03	-0.45	-0.27	-2.14	-0.73	-0.49	-1.71	-4.1	2.45	-23.05
Net Debt/EBITDA	- -	-4.66	-21.13	8.48	-8.98	13.23	0.83	-0.05	0.13	1.13	2.46	2.54	0.73	-0.79	8.33
Total Debt/EBIT	- -	-3.34	-8.38	-0.01	-0.02	- -	-0.2	-0.16	-0.6	-0.39	-0.38	-1.51	-2.82	3.4	-2.8
Net Debt/EBIT	- -	-3.29	-8.27	3.1	5.26	1.61	0.36	-0.03	0.04	0.59	1.89	2.24	0.5	-1.1	1.01
EBITDA to Interest Expense	-1.8	-1.07	-0.21	-0.12	20.07	-9.3	-45.31	-30.1	-9.72	-47.38	-136.07	-13.7	-6.36	6.74	-0.58
EBITDA-CapEx/Interest Expense	-1.8	-1.07	-0.21	-0.12	20.07	-9.3	-45.31	-30.1	-9.72	-47.38	-136.07	-13.7	-6.36	6.74	-0.58
EBIT to Interest Expense	-2.8	-1.51	-0.54	-0.32	-34.26	-76.33	-103.44	-50.69	-34.87	-89.87	-177.29	-15.51	-9.23	4.85	-4.8
Interest Expense	8	22	31	50	- -	- -	- -	1	- -	- -	- -	5	5	12	11
Common Equity/Total Assets	- -	-299.21	-368.78	-275.15	-289.49	-310.04	-353.06	-476.24	-469.7	-521.39	-297.92	-97.57	-95.81	-73.76	-258.13
Long-Term Debt/Equity (%)	- -	- -	- -	0.07	0.03	- -	- -	- -	7.28	8.34	10.12	26.16	28.05	27.71	46.34
Long-Term Debt/Capital (%)	- -	-122.39	-61.66	-0.02	-0.01	- -	- -	- -	-0.9	-1.13	-2.45	-23.02	-25.6	-36.8	-12.04
Long-Term Debt/Total Assets (%)	- -	114.06	132.7	0.06	0.03	- -	- -	- -	4.15	5.81	7.1	18.19	19.47	19.03	26.84
Total Debt/Equity (%)	- -	-318.67	-223.6	0.13	0.09	0.03	3.71	5.95	14.33	12.25	11.87	26.69	28.43	32.11	61.02
Total Debt/Capital (%)	- -	-123.95	-71.34	-0.04	-0.03	-0.01	-0.87	-0.89	-1.77	-1.66	-2.88	-23.49	-25.95	-42.65	-15.86
Total Debt/Total Assets (%)	- -	115.51	153.55	0.11	0.08	0.03	3.03	4.22	8.17	8.53	8.33	18.56	19.74	22.05	35.34
Net Debt to Equity	- -	-314.42	-220.67	-40.19	-26.78	-15.65	-6.88	1.22	-0.86	-18.91	-59.63	-39.73	-5.07	-10.42	-22.05
Net Debt/Capital (%)	- -	-120.47	-69.84	11.08	7.49	4.15	1.56	-0.18	0.11	2.49	12.63	22.51	3.67	9.37	4.89
EBITDA	-14	-23	-6	-6	4	-1	-8	-16	-4	-11	-31	-70	-34	81	-6
EBITDA-CapEx	-14	-23	-6	-6	4	-1	-8	-16	-4	-11	-31	-70	-34	81	-6
Operating Income (Loss)	-21	-33	-17	-16	-6	-11	-19	-27	-14	-22	-41	-79	-49	58	-51

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.06	0.05	2.46	1.88	1	0.5	0.14	0.12	1.18	2.09	3.56	1.79	2.01	2.53
Current Ratio	- -	1.05	0.89	3.63	3.54	2.77	2.21	1.61	1.5	3.38	3.07	4.68	3.41	3.72	3.9
Quick Ratio	- -	0.73	0.65	3.35	3.07	1.96	1.74	1.25	1.18	2.31	2.65	4.29	2.69	3	3.1
CFO/Avg Current Liab	-2.53	-2.45	-0.52	0.26	0.28	-0.03	-0.23	-0.39	-0.04	-0.45	-0.74	-1.63	-0.54	0.48	0.38
Common Equity/Total Assets	- -	-299.21	-368.78	-275.15	-289.49	-310.04	-353.06	-476.24	-469.7	-521.39	-297.92	-97.57	-95.81	-73.76	-258.13
Long-Term Debt/Equity (%)	- -	- -	- -	0.07	0.03	- -	- -	- -	7.28	8.34	10.12	26.16	28.05	27.71	46.34
Long-Term Debt/Capital (%)	- -	-122.39	-61.66	-0.02	-0.01	- -	- -	- -	-0.9	-1.13	-2.45	-23.02	-25.6	-36.8	-12.04
Long-Term Debt/Total Assets (%)	- -	114.06	132.7	0.06	0.03	- -	- -	- -	4.15	5.81	7.1	18.19	19.47	19.03	26.84
Total Debt/Equity (%)	- -	-318.67	-223.6	0.13	0.09	0.03	3.71	5.95	14.33	12.25	11.87	26.69	28.43	32.11	61.02
Total Debt/Capital (%)	- -	-123.95	-71.34	-0.04	-0.03	-0.01	-0.87	-0.89	-1.77	-1.66	-2.88	-23.49	-25.95	-42.65	-15.86
Total Debt/Total Assets (%)	- -	115.51	153.55	0.11	0.08	0.03	3.03	4.22	8.17	8.53	8.33	18.56	19.74	22.05	35.34
CFO/Total Liabilities	- -	-19.93	-8.99	31.17	30.45	-3.03	-20.14	-30.08	-2.37	-33.56	-34.15	-48.17	-19.82	16.24	19.21
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	-4.65	-4.86	-0.3	1.81	-0.45	-1.3	-5.27	-2.98	2.34	12.93	0.47	2.15	2.06	-2.02

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	9.01	8.96	5.23	5.58	6.36	6.17	5.04	3.99	4.82	4.18	6.73	4.64	3.75	5.06	3.76
Days Sales Outstanding	40.53	40.73	69.79	65.38	57.42	59.15	72.42	91.51	75.71	87.27	54.21	78.7	97.36	72.2	97.19
Inventory Turnover	43.12	22.51	11.39	14.47	17.13	9.73	8.54	11.3	14.06	7.84	8.9	10.16	5.89	6.22	5.25
Days Inventory Outstanding	8.46	16.21	32.05	25.22	21.31	37.49	42.76	32.31	25.96	46.58	40.99	35.92	61.97	58.67	69.56
Accounts Payable Turnover	16.55	17.13	9.37	7.82	8	8.49	7.51	7.82	9.17	10.03	9.7	5.15	3.75	5.83	7.49
Accounts Payable Turnover Days	22.05	21.31	38.94	46.69	45.64	43.01	48.63	46.68	39.81	36.39	37.62	70.83	97.32	62.63	48.71
Cash Conversion Cycle	26.95	35.63	62.91	43.91	33.09	53.63	66.56	77.14	61.85	97.46	57.58	43.79	62	68.25	118.04
Inventory to Cash Days	32.07	24.52	37.74	40.17	36.11	21.65	29.66	59.2	49.75	40.7	13.21	42.77	35.39	13.53	27.63
Inventories	- -	6	7	5	7	13	9	7	9	13	12	23	39	48	38
Raw Materials	- -	3	3	4	4	4	3	3	4	4	7	20	25	14	8
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	8	10	6
Finished Goods	- -	4	4	1	2	9	6	4	4	9	5	- -	7	24	25
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	- -	99	140	96	114	51	187	440	1,515	464	1,096	921	233
- Cash & Cash Equivalents	- -	1	2	50	33	18	11	3	4	16	77	281	140	221	157
+ Preferred Equity and Hybrid Capital	- -	86	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	110	139	- -	- -	- -	4	4	8	8	15	119	139	197	144
Enterprise Value	- -	195	137	49	107	78	107	51	192	432	1,454	302	1,095	898	220
Total Capital	- -	-89	-194	-399	-405	-417	-433	-467	-478	-500	-530	-508	-535	-463	-906
Total Debt/Capital (%)	- -	-123.95	-71.34	-0.04	-0.03	-0.01	-0.87	-0.89	-1.77	-1.66	-2.88	-23.49	-25.95	-42.65	-15.86
Total Debt / EV	- -	0.56	1.01	- -	- -	- -	0.03	0.08	0.04	0.02	0.01	0.4	0.13	0.22	0.65
EV/Sales	- -	3.07	1.59	0.48	0.87	0.66	0.96	0.49	1.38	4.31	11.95	1.68	4.59	1.98	0.81
EV/EBITDA	- -	- -	- -	- -	29.25	- -	- -	- -	- -	- -	- -	- -	- -	11.14	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	15.46	- -
EV/Cash Flow to Firm	- -	- -	8.1	0.86	19.28	- -	- -	- -	- -	- -	- -	- -	- -	15.99	5.04
EV/Free Cash Flow to Firm	- -	- -	8.1	0.86	19.28	- -	- -	- -	- -	- -	- -	- -	- -	15.99	5.04
Diluted Market Cap	- -	- -	- -	99	140	96	114	51	187	440	1,515	464	1,096	954	233
Diluted Enterprise Value	- -	195	137	49	107	78	107	51	192	432	1,454	302	1,095	931	220
EV per Share	- -	8.48	5.96	3.97	4.65	3.35	4.58	2.17	7.96	16.38	47.77	7.68	15.77	11.58	2.67
TTM Sales	46	63	86	102	123	118	112	104	139	100	122	180	239	453	271
TTM EBITDA	-14	-23	-6	-6	4	-1	-8	-16	-4	-11	-31	-70	-34	81	-6
TTM Operating Income	-21	-33	-17	-16	-6	-11	-19	-27	-14	-22	-41	-79	-49	58	-51
TTM Cash Flow to Firm	-17	-4	17	57	6	- -	-4	-8	-1	-10	-18	-89	-37	56	44
TTM Free Cash Flow to Firm	-17	-4	17	57	6	- -	-4	-8	-1	-10	-18	-89	-37	56	44

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	- -	14.82	26.04	-165.34	-24.78	-5.84	-177.43	-44.36	-81.34	-4.92	-25.71	20.95	7.09
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	15.46	- -
Enterprise Value	- -	195	137	49	107	78	107	51	192	432	1,454	302	1,095	898	220
Low Price	- -	- -	- -	6.46	5.24	3.38	3.84	1.6	2.13	4.09	15.21	7.93	5.32	10.75	2.8
EV/Sales	- -	3.07	1.59	0.48	0.87	0.66	0.96	0.49	1.38	4.31	11.95	1.68	4.59	1.98	0.81
EV/EBITDA	- -	- -	- -	- -	29.25	- -	- -	- -	- -	- -	- -	- -	- -	11.14	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	68.87	- -
Price/Earnings Average	- -	- -	- -	-1.76	-25.61	-9.06	-5.3	-3.05	-8.64	-10.78	-27.61	-9.02	-13.01	116.63	-1.45
Price/Earnings High	- -	- -	- -	-2.19	-32.35	-12.91	-6.22	-3.85	-14.08	-22.04	-54.14	-24.74	-26.25	192.17	-3.02
Price/Earnings Low	- -	- -	- -	-1.2	-18.77	-6.5	-4.65	-1.1	-3.52	-4.95	-12.48	-3.77	-8.07	62.32	-0.59
Price/Book Value	- -	- -	- -	-0.25	-0.34	-0.23	-0.26	-0.11	-0.38	-0.87	-2.78	-0.74	-1.63	-1.4	-0.22
Price/Book Value Average	- -	- -	- -	-0.29	-0.41	-0.26	-0.23	-0.22	-0.26	-0.46	-1.88	-1.19	-0.88	-2.36	-0.54
Price/Book Value High	- -	- -	- -	-0.36	-0.51	-0.37	-0.28	-0.28	-0.42	-0.95	-3.68	-3.26	-1.79	-3.89	-1.12
Price/Book Value Low	- -	- -	- -	-0.2	-0.3	-0.19	-0.21	-0.08	-0.11	-0.21	-0.85	-0.5	-0.55	-1.26	-0.22
Price/Tangible Book Value	- -	- -	- -	0.8	1.14	0.83	1.13	0.72	3.17	6.49	11.8	1.04	2.25	1.5	0.99
Price/Tangible Book Value Average	- -	- -	- -	0.94	1.34	0.94	1.01	1.5	2.13	3.47	7.98	1.67	1.22	2.54	2.4
Price/Tangible Book Value High	- -	- -	- -	1.17	1.69	1.34	1.19	1.89	3.48	7.08	15.64	4.57	2.46	4.18	5
Price/Tangible Book Value Low	- -	- -	- -	0.64	0.98	0.68	0.89	0.54	0.87	1.59	3.6	0.7	0.76	1.36	0.98
Price/Sales	- -	- -	- -	0.96	1.14	0.81	1.02	0.48	1.34	4.39	12.46	2.57	4.59	2.03	0.86
Price/Sales Average	- -	- -	- -	1.14	1.34	0.93	0.92	1.01	0.9	2.34	8.42	4.14	2.5	3.45	2.08
Price/Sales High	- -	- -	- -	1.42	1.69	1.32	1.08	1.27	1.47	4.79	16.51	11.35	5.04	5.68	4.34
Price/Sales Low	- -	- -	- -	0.78	0.98	0.66	0.81	0.36	0.37	1.08	3.81	1.73	1.55	1.84	0.85
Price/Cash Flow	- -	- -	- -	14.82	26.04	-165.34	-24.78	-5.84	-177.43	-44.36	-81.34	-4.92	-25.71	20.22	7.09
Price/Cash Flow Average	- -	- -	- -	17.53	30.67	-188.47	-22.23	-12.16	-119.43	-23.69	-54.99	-7.9	-13.99	34.25	17.19
Price/Cash Flow High	- -	- -	- -	21.81	38.73	-268.63	-26.1	-15.31	-194.58	-48.43	-107.8	-21.68	-28.22	56.43	35.81
Price/Cash Flow Low	- -	- -	- -	12	22.48	-135.2	-19.53	-4.39	-48.7	-10.87	-24.85	-3.31	-8.68	18.3	7.01
Price/Free Cash Flow Average	- -	- -	- -	17.53	30.67	-188.47	-22.23	-12.16	-119.43	-23.69	-54.99	-7.9	-13.99	35.47	17.19
Price/Free Cash Flow High	- -	- -	- -	21.81	38.73	-268.63	-26.1	-15.31	-194.58	-48.43	-107.8	-21.68	-28.22	58.45	35.81
Price/Free Cash Flow Low	- -	- -	- -	12	22.48	-135.2	-19.53	-4.39	-48.7	-10.87	-24.85	-3.31	-8.68	18.95	7.01
EV/Sales Average	- -	3.07	1.59	0.65	1.07	0.77	0.86	1.02	0.94	2.26	7.92	3.24	2.49	3.39	2.04
EV/Sales High	- -	3.07	1.59	0.93	1.43	1.17	1.01	1.28	1.51	4.71	16.01	10.45	5.03	5.63	4.29
EV/Sales Low	- -	3.07	1.59	0.3	0.72	0.51	0.74	0.37	0.4	0.99	3.3	0.83	1.54	1.79	0.8
EV/EBITDA Average	- -	-8.37	-21.17	-11.44	36.05	-66.49	-11.39	-6.72	-33.12	-19.96	-30.91	-8.34	-17.56	19.07	-88.54
EV/EBITDA High	- -	-8.37	-21.17	-16.28	47.88	-100.38	-13.51	-8.45	-53.19	-41.55	-62.48	-26.92	-35.47	31.61	-186.71
EV/EBITDA Low	- -	-8.37	-21.17	-5.16	24.03	-43.96	-9.9	-2.46	-14.23	-8.77	-12.89	-2.15	-10.88	10.05	-34.86
EV/EBIT Average	- -	-5.91	-8.29	-4.18	-21.12	-8.1	-4.99	-3.99	-9.23	-10.52	-23.72	-7.37	-12.09	26.47	-10.74
EV/EBIT High	- -	-5.91	-8.29	-5.95	-28.05	-12.23	-5.92	-5.02	-14.82	-21.9	-47.95	-23.79	-24.42	43.88	-22.65
EV/EBIT Low	- -	-5.91	-8.29	-1.88	-14.07	-5.36	-4.34	-1.46	-3.97	-4.62	-9.89	-1.9	-7.5	13.95	-4.23
Last Price	- -	- -	- -	7.98	6.07	4.13	4.88	2.13	7.76	16.69	49.79	11.79	15.78	11.88	2.83
High Price	- -	- -	- -	11.74	9.03	6.71	5.14	5.58	8.51	18.22	65.99	52	17.32	33.15	14.3
Enterprise Value Average	- -	195	137	67	132	91	95	106	131	227	963	584	595	1,536	552
Enterprise Value High	- -	195	137	95	175	137	113	133	210	472	1,947	1,885	1,202	2,547	1,164
Enterprise Value Low	- -	195	137	30	88	60	83	39	56	100	402	150	369	810	217

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	23	23	23	23	23	24	24	24	28	33	70	77	82	83
Diluted Weighted Avg Shares	23	23	23	12	23	23	23	24	24	26	30	39	69	80	82
Basic Weighted Avg Shares	23	23	23	12	23	23	23	24	24	26	30	39	69	78	82
Revenue per Share	2	2.76	3.74	8.29	5.33	5.09	4.77	4.4	5.78	3.8	4	4.58	3.44	5.84	3.29
EBITDA per Share	-0.59	-1.01	-0.28	-0.47	0.16	-0.06	-0.36	-0.66	-0.16	-0.43	-1.02	-1.78	-0.49	1.04	-0.08
Operating Income per Share	-0.92	-1.43	-0.72	-1.3	-0.27	-0.48	-0.82	-1.12	-0.59	-0.82	-1.33	-2.01	-0.71	0.75	-0.62
Basic EPS, GAAP	-2.46	-0.39	1.63	-5.37	-0.28	-0.52	-0.83	-1.45	-0.6	-0.83	-1.22	-2.1	-0.66	0.17	-4.73
Basic EPS from Cont Ops	-1.43	-2.44	-2.07	-5.37	-0.28	-0.52	-0.83	-1.45	-0.6	-0.83	-1.22	-2.1	-0.66	0.17	-4.73
Diluted EPS, GAAP	-2.46	-0.39	1.63	-5.37	-0.28	-0.52	-0.83	-1.45	-0.6	-0.83	-1.22	-2.1	-0.66	0.17	-4.73
Diluted EPS from Cont Ops	-1.43	-2.44	-2.07	-5.37	-0.28	-0.52	-0.83	-1.45	-0.6	-0.83	-1.22	-2.1	-0.66	0.17	-4.73
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-1.05	-1.13	-0.6	0.54	0.23	-0.02	-0.2	-0.36	-0.04	-0.38	-0.61	-2.4	-0.61	0.59	0.4
Free Cash Flow per Basic Share	-1.05	-1.13	-0.6	0.54	0.23	-0.02	-0.2	-0.36	-0.04	-0.38	-0.61	-2.4	-0.61	0.59	0.4
Cash & Equivalents per Share	- -	0.06	0.07	4.03	1.43	0.78	0.46	0.14	0.15	0.63	2.52	7.15	2.01	2.85	1.91
Book Value per Share	- -	-12.4	-14.47	-32.32	-17.64	-18.04	-18.69	-19.87	-20.17	-19.26	-17.91	-15.95	-9.7	-8.52	-12.75
Tangible Book Value per Share	- -	-5.25	-2.69	10.02	5.33	4.99	4.32	2.96	2.45	2.57	4.22	11.37	7.03	7.93	2.86

Aspen Aerogels, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)