(AQST) Aquestive Therapeutics - Overview
Sector: Healthcare | Industry: Drug Manufacturers - Specialty & Generic | Exchange: NASDAQ (USA) | Market Cap: 517m USD | Total Return: 44.1% in 12m
Avg Turnover: 5.70M
Qual. Beats: 1
Rev. Trend: -22.0%
Qual. Beats: 1
Warnings
Negative Equity with losses - insolvent profile
Share dilution 28.4% YoY
Interest Coverage Ratio -3.3 is critical
Altman Z'' -11.75 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Aquestive Therapeutics, Inc. (AQST) is a pharmaceutical company specializing in the development and commercialization of drug delivery technologies, primarily focusing on its proprietary PharmFilm platform. This technology converts complex medications into oral or buccal soluble films, providing alternative administration routes for patients with central nervous system (CNS) disorders and severe allergies.
The company maintains a diverse portfolio of FDA-approved products, including treatments for epilepsy, opioid dependence, and ADHD. Its primary clinical focus is currently directed toward Anaphylm, a sublingual epinephrine film in Phase 3 trials intended to provide a non-invasive alternative to traditional auto-injectors. The pharmaceutical sector often values such reformulations because they can extend patent protection and improve patient compliance for established molecules.
Investigating the underlying valuation metrics on ValueRay can provide further clarity on the companys financial position.
Beyond CNS applications, Aquestive is leveraging its Adrenaverse platform to develop epinephrine prodrugs and exploring topical treatments for alopecia. The business model relies on a mix of internal product commercialization and strategic partnerships, a common strategy for mid-sized pharmaceutical firms seeking to mitigate clinical development risks while maintaining specialized manufacturing capabilities.
- FDA approval and launch of Anaphylm sublingual film for emergency allergic reactions
- Libervant buccal film commercial rollout for pediatric seizure clusters treatment
- Royalty revenue growth from Suboxone and Azstarys pharmaceutical licensing agreements
- Phase 3 clinical trial results for epinephrine prodrug pipeline candidates
- Cash runway and potential dilution from future capital raises for commercialization
| Net Income: -68.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.43 > 0.02 and ΔFCF/TA 2.85 > 1.0 |
| NWC/Revenue: 195.8% < 20% (prev 130.7%; Δ 65.11% < -1%) |
| CFO/TA -0.31 > 3% & CFO -43.8m > Net Income -68.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 4.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (122.6m) vs 12m ago 28.39% < -2% |
| Gross Margin: 63.45% > 18% (prev 0.68%; Δ 6.28k% > 0.5%) |
| Asset Turnover: 41.31% > 50% (prev 53.04%; Δ -11.73% > 0%) |
| Interest Coverage Ratio: -3.34 > 6 (EBITDA TTM -55.4m / Interest Expense TTM 16.8m) |
| A: 0.70 (Total Current Assets 130.2m - Total Current Liabilities 31.8m) / Total Assets 141.1m |
| B: -3.22 (Retained Earnings -455.1m / Total Assets 141.1m) |
| C: -0.46 (EBIT TTM -55.9m / Avg Total Assets 121.7m) |
| D: -2.60 (Book Value of Equity -454.9m / Total Liabilities 175.2m) |
| Altman-Z'' = -11.75 = D |
| DSRI: 0.71 (Receivables 6.87m/10.4m, Revenue 50.3m/54.2m) |
| GMI: 1.08 (GM 63.45% / 68.40%) |
| AQI: 0.45 (AQ_t 0.02 / AQ_t-1 0.04) |
| SGI: 0.93 (Revenue 50.3m / 54.2m) |
| TATA: -0.18 (NI -68.9m - CFO -43.8m) / TA 141.1m) |
| Beneish M = -3.75 (Cap -4..+1) = AAA |
As of May 30, 2026, the stock is trading at USD 4.02 with a total of 1,121,593 shares traded.
Over the past week, the price has changed by -4.96%,
over one month by -0.74%,
over three months by +0.50% and
over the past year by +44.09%.
Aquestive Therapeutics has received a consensus analysts rating of 4.56. Therefore, it is recommended to buy AQST.
- StrongBuy: 5
- Buy: 4
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 8.9 | 121.1% |
P/S = 10.2814
P/B = 14.1476
Revenue TTM = 50.3m USD
EBIT TTM = -55.9m USD
EBITDA TTM = -55.4m USD
Long Term Debt = 25.1m USD (from longTermDebt, last quarter)
Short Term Debt = 15.3m USD (from shortTermDebt, last quarter)
Debt = 138.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 4.82m
Net Debt = 38.9m USD (calculated: Debt 138.4m - CCE 99.5m)
Enterprise Value = 555.7m USD (516.9m + Debt 138.4m - CCE 99.5m)
Interest Coverage Ratio = -3.34 (Ebit TTM -55.9m / Interest Expense TTM 16.8m)
EV/FCF = -9.18x (Enterprise Value 555.7m / FCF TTM -60.5m)
FCF Yield = -10.89% (FCF TTM -60.5m / Enterprise Value 555.7m)
FCF Margin = -120.4% (FCF TTM -60.5m / Revenue TTM 50.3m)
Net Margin = -137.1% (Net Income TTM -68.9m / Revenue TTM 50.3m)
Gross Margin = 63.45% ((Revenue TTM 50.3m - Cost of Revenue TTM 18.4m) / Revenue TTM)
Gross Margin QoQ = 75.99% (prev 55.16%)
Tobins Q-Ratio = 3.94 (Enterprise Value 555.7m / Total Assets 141.1m)
Interest Expense / Debt = 12.11% (Interest Expense 16.8m / Debt 138.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -44.2m (EBIT -55.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.98 (Total Current Assets 130.2m / Total Current Liabilities 43.6m)
Debt / Equity = -4.06 (negative equity) (Debt 138.4m / totalStockholderEquity, last quarter -34.1m)
Debt / EBITDA = -0.70 (negative EBITDA) (Net Debt 38.9m / EBITDA -55.4m)
Debt / FCF = -0.64 (negative FCF - burning cash) (Net Debt 38.9m / FCF TTM -60.5m)
Total Stockholder Equity = -36.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -56.63% (Net Income -68.9m / Total Assets 141.1m)
RoE = -16.45% (Net Income TTM -68.9m / Total Stockholder Equity 419.0m)
RoCE = -12.59% (EBIT -55.9m / Capital Employed (Equity 419.0m + L.T.Debt 25.1m))
RoIC = -175.4% (out of range, set to none) (NOPAT -44.2m / Invested Capital 25.2m)
WACC = 8.60% (E(516.9m)/V(655.3m) * Re(8.34%) + D(138.4m)/V(655.3m) * Rd(12.11%) * (1-Tc(0.21)))
Discount Rate = 8.34% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 29.50%
[DCF] Fair Price = unknown (Cash Flow -60.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.07 | # QB: 1
Revenue Correlation: -21.98 | Revenue CAGR: -2.65% | SUE: 1.10 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.12 | Chg30d=-4.35% | Revisions=-20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-0.12 | Chg30d=-9.09% | Revisions=-20% | Analysts=2
EPS current Year (2026-12-31): EPS=-0.42 | Chg30d=+8.70% | Revisions=+20% | GrowthEPS=+28.7% | GrowthRev=+13.4%
EPS next Year (2027-12-31): EPS=-0.45 | Chg30d=+22.41% | Revisions=-20% | GrowthEPS=-7.1% | GrowthRev=+42.4%
[Analyst] Revisions Ratio: -20%