Energy · Solar
Price
$4.88
Market Cap
$17.0M
Employees
16
Beta
2.03
Avg Volume
1,920,212
CEO
Paul Warley Jr.
Business Description
Ascent Solar Technologies, Inc. specializes in the development, production, and distribution of copper-indium-gallium-diselenide (CIGS) photovoltaic products. These solar energy solutions are engineered for diverse applications, spanning the aerospace industry, defense sector, emergency management, and both consumer and original equipment manufacturer (OEM) demands. A notable offering includes their outdoor solar charging devices. The company markets and distributes its goods via a comprehensive network of OEMs, system integrators, wholesalers, retailers, and online e-commerce channels. Founded in 2005, Ascent Solar Technologies, Inc. maintains its primary offices in Thornton, Colorado.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-1.58
Stock Price: $4.88
EPS (Diluted): -3.09
EPS (Diluted): -3.09
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
3.15
Stock Price: $4.88
Total Equity: $3.34M
Shares: 2,555,794
Total Equity: $3.34M
Shares: 2,555,794
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-1.28
Market Cap: $16.97M
Total Debt: $0.00
Cash: $2.79M
EBITDA: -$7.15M
Total Debt: $0.00
Cash: $2.79M
EBITDA: -$7.15M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$9.2M
Market Cap: $16.97M
Total Debt: $0.00
Cash: $2.79M
Total Debt: $0.00
Cash: $2.79M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
136.82
Stock Price: $4.88
Revenue: $76,773
Shares: 2,555,794
Revenue: $76,773
Shares: 2,555,794
EV/Sales (Total value vs revenue — works when P/E can't)
API119.61
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
-155.7%
Gross Profit: -$119,559
Revenue: $76,773
Revenue: $76,773
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-10,256.7%
Operating Income: -$7.87M
Revenue: $76,773
Revenue: $76,773
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-10,202.5%
Net Income: -$7.83M
Revenue: $76,773
Revenue: $76,773
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-234.7%
Net Income: -$7.83M
Total Equity: $3.34M
Total Equity: $3.34M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-1,428.2%
Operating Income: -$7.87M
Tax Rate: 0.0%
Equity: $3.34M
Total Debt: $0.00
Cash: $2.79M
Tax Rate: 0.0%
Equity: $3.34M
Total Debt: $0.00
Cash: $2.79M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.53
Current Assets: $3.38M
Current Liabilities: $2.21M
Current Liabilities: $2.21M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $3.34M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $3.34M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.03
Revenue: $76,773
Shares: 2,555,794
Shares: 2,555,794
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$1.31
Total Equity: $3.34M
Shares: 2,555,794
Shares: 2,555,794
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-2.71
Operating CF: -$6.90M
CapEx: -$32,015
Shares: 2,555,794
CapEx: -$32,015
Shares: 2,555,794
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $4.88
Stock Price: $4.88
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$7.83M
Net Income: -$7.83M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ASTI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 12:59am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $607,783 | $1.2M | $458,260 | $41,893 | $76,773 |
| Cost of Revenue | $1.9M | $2.0M | $1.9M | $148,376 | $196,332 |
| Gross Profit | -$1.3M | $-788,673 | -$1.4M | $-106,483 | $-119,559 |
| Operating Expenses | $7.5M | $16.3M | $14.2M | $8.4M | $7.8M |
| Operating Income | -$8.8M | -$17.1M | -$15.6M | -$8.5M | -$7.9M |
| Net Income | -$6.0M | -$19.8M | -$17.1M | -$9.1M | -$7.8M |
| EBITDA | -$4.2M | -$16.3M | -$14.1M | -$7.9M | -$7.2M |
| EPS | $-25,104.62 | $-13,200.00 | $-3,419.25 | $-10.38 | $-3.09 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 22, 2026 12:59am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $6.0M | $11.5M | $1.0M | $3.2M | $2.8M |
| Total Current Assets | $6.9M | $12.4M | $1.5M | $3.7M | $3.4M |
| Total Assets | $12.8M | $18.7M | $6.9M | $7.1M | $6.3M |
| Current Liabilities | $3.1M | $5.0M | $5.8M | $2.3M | $2.2M |
| Long-Term Debt | $8.1M | $5.3M | $0 | $0 | $0 |
| Total Liabilities | $15.7M | $14.1M | $8.4M | $3.8M | $3.0M |
| Total Equity | -$2.8M | $4.6M | -$1.5M | $3.4M | $3.3M |
| Retained Earnings | -$427.8M | -$447.5M | -$482.5M | -$491.6M | -$499.4M |
Cash Flow (Annual)
Last updated: Jun 22, 2026 12:59am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$9.4M | -$10.5M | -$9.5M | -$8.4M | -$6.9M |
| Capital Expenditure | $-280,317 | $-181,913 | -$3.9M | $-421 | $-32,015 |
| Free Cash Flow | -$9.7M | -$10.7M | -$13.4M | -$8.4M | -$6.9M |
| Acquisitions (net) | $-21,205 | $-83,559 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $5.8M | $5.5M | -$10.4M | $2.1M | $-384,250 |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:27pm (9h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$22.4M $22.4M – $22.4M
|
$53.1M $53.1M – $53.1M
|
$85.7M $85.7M – $85.7M
|
$127.3M $127.3M – $127.3M
|
| EBITDA |
-$22.4M -$22.4M – -$22.4M
|
-$53.1M -$53.1M – -$53.1M
|
-$85.7M -$85.7M – -$85.7M
|
-$127.3M -$127.3M – -$127.3M
|
| Net Income |
-$1.3M -$1.3M – -$1.3M
|
$230,021 $230,021 – $230,021
|
$1.9M $1.9M – $1.9M
|
$3.8M $3.8M – $3.8M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 22, 2026 12:59am (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +101.2% | -62.5% | -90.9% | +83.3% |
| Gross Profit Growth | +39.1% | -81.8% | +92.6% | -12.3% |
| Operating Income Growth | -94.0% | +8.3% | +45.4% | +7.8% |
| Net Income Growth | -229.2% | +13.6% | +46.5% | +14.2% |
| EBITDA Growth | -287.1% | +13.2% | +44.1% | +9.5% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ASTI — it's generated by the pipeline (
market-narrative step).
No community reviews yet for ASTI.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30