Ascent Solar Technologies (ASTI) Stock Price, Financials & Analysis

Key Stats

Market Cap12.57 Mn

P/E-1.39

FCF (Yr)-6.94 Mn

ROA (Yr)-116.85

EV to EBIT3.62

Net Income (Yr)-7.83 Mn

Enterprise Value-33.82 Mn

Add ratio to table…

About

Ascent Solar Technologies, Inc. designs, manufactures, and sells flexible photovoltaic solar modules using proprietary Copper-Indium-Gallium-diSelenide technology on lightweight plastic substrates. The company targets high-value, weight-sensitive markets where traditional rigid solar panels are impractical, including aerospace, space power beaming, unmanned aerial vehicles, satellites, and defense applications. Its modules are distinguished by their durability, flexibility,…

Ascent Solar Technologies, Inc. generates revenue primarily through the sale of its flexible photovoltaic modules and integrated solar solutions. The company collaborates with strategic partners to develop customized products for applications such as spacecraft, airships, and drones, where lightweight and high-efficiency power generation is critical. Additionally, it serves off-grid, portable power, transportation, and defense markets, offering renewable energy solutions tailored to unique operational requirements.

The company operates through a single, integrated business model focused on advanced solar technology development and commercialization.

Ascent Solar Technologies, Inc. occupies a specialized position within the solar technology industry, competing in high-value, weight-sensitive markets where traditional silicon-based and rigid solar panels are unsuitable. Its primary competitors include other thin-film solar manufacturers and companies producing Gallium Arsenide-based modules, though few rival its combination of flexibility, lightweight design, and monolithic integration. The company’s competitive advantages stem from its proprietary CIGS technology on plastic substrates, which enables higher power-to-weight ratios and durability compared to amorphous silicon or cadmium telluride alternatives. Its roll-to-roll manufacturing process and rapid prototyping capabilities further differentiate it by allowing cost-effective customization for niche applications. While larger manufacturers dominate the broader solar market with silicon-based products, Ascent’s focus on aerospace, defense, and space applications positions it as a leader in premium, high-performance solar solutions.

The company serves a diverse customer base, including government agencies, aerospace contractors, satellite manufacturers, and defense organizations. Its products are integrated into applications such as unmanned aerial vehicles, space vehicles, and portable power systems, where lightweight and flexible solar modules are essential. Ascent also collaborates with strategic partners to develop tailored solutions for emerging markets like power beaming and agrivoltaics, expanding its reach across industries that prioritize efficiency and durability in power generation.

How Ascent Solar Technologies ranks

Ranked against the 76 companies in Clean Energy Equipment58 metrics · as of Nov 14, 2026

Valuation

12 metrics · Lower multiples rank higher; a negative multiple ranks last

P/ENegative earnings −1.39xMedian 28.1x 22^nd
P/FCFNegative free cash flow −1.75xMedian 25.5x 18^th
P/Operating cash flowNegative operating cash flow −1.75xMedian 18.1x 18^th
P/S 37.2xMedian 2.67x 11^th
P/B 0.93xMedian 1.93x 72^nd
P/Tangible book 0.93xMedian 2.00x 72^nd
EV/EBITDANet cash exceeds market value 0.05xMedian 18.3x Not meaningful —
EV/EBITNet cash exceeds market value 0.05xMedian 25.5x Not meaningful —
EV/RevenueNet cash exceeds market value −1.26xMedian 2.40x Not meaningful —
EV/FCFNet cash exceeds market value 0.06xMedian 22.8x Not meaningful —
EV/Operating cash flowNet cash exceeds market value 0.06xMedian 17.2x Not meaningful —
PEG (3Y EPS CAGR)Negative earnings −0.01Median 0.93 Not meaningful —

Growth

14 metrics · Year-on-year growth and three-year compound annual growth

Revenue growth (1Y) 453%Median 11.3% 98^th
Revenue CAGR (3Y) −10.3%Median 4.0% 32^nd
Gross profit growth (1Y) −105%Median 13.0% 2^nd
Gross profit CAGR (3Y) 55.2%Median 9.2% 89^th
Operating income growth (1Y) −28.7%Median 7.4% 27^th
Operating income CAGR (3Y) 15.5%Median 3.7% 68^th
Net income growth (1Y) −24.0%Median 12.3% 27^th
Net income CAGR (3Y) 32.1%Median 5.6% 80^th
EPS growth (1Y) 60.2%Median 21.5% 70^th
EPS CAGR (3Y) 95.8%Median 9.8% 96^th
Operating cash flow growth (1Y) −8.1%Median −11.9% 55^th
Operating cash flow CAGR (3Y) 10.3%Median 7.5% 57^th
Free cash flow growth (1Y) −7.6%Median −16.2% 56^th
Free cash flow CAGR (3Y) 19.7%Median 9.2% 65^th

Profitability

14 metrics · Margins, returns on capital and the quality of earnings

Gross margin −49.2%Median 22.4% 2^nd
EBITDA margin −2,735%Median −21.4% 4^th
Operating margin −2,760%Median −24.2% 4^th
Pretax margin −2,770%Median −21.4% 4^th
Net margin −2,671%Median −16.4% 6^th
FCF margin −2,118%Median −15.2% 6^th
Operating cash flow margin −2,118%Median −11.4% 6^th
Return on equity −64.8%Median −20.8% 19^th
Return on assets −54.1%Median −12.3% 11^th
Return on invested capital —Median −1.1% No data —
Return on capital employed −64.1%Median −15.5% 10^th
Asset turnover 0.02xMedian 0.53x 7^th
Cash conversion (OCF / net income)Net income is not positive 0.79xMedian 1.10x Not meaningful —
Stock comp / revenue 472%Median 5.9% 7^th

Financial Health

11 metrics · Leverage, liquidity and solvency; less debt ranks higher

Debt / assets —Median 20.2% No data —
Debt / equity —Median 0.38x No data —
Net debt / EBITDA —Median 0.50x No data —
Debt / FCF —Median 2.93x No data —
Liabilities / assets 17.7%Median 56.8% 88^th
Equity / assets 82.3%Median 44.2% 85^th
Interest coverage −191xMedian −3.01x 11^th
Current ratio 5.11xMedian 1.97x 77^th
Quick ratio 4.83xMedian 1.04x 82^nd
Cash ratio 4.82xMedian 0.54x 84^th
Altman Z-score −41.6Median 0.62 2^nd

Shareholder Returns

7 metrics · Cash returned through dividends and buybacks; a lower payout ranks higher

Dividend yield —Median 0.7% No dividend —
Net buyback yieldAbove 100% of market value −157%Median −0.5% Not meaningful —
Shareholder yieldAbove 100% of market value −157%Median −0.3% Not meaningful —
Payout ratio (earnings) —Median 13.1% No dividend —
Payout ratio (FCF) —Median 13.2% No dividend —
Dividend growth (1Y) —Median 3.4% No dividend —
Dividend CAGR (3Y) —Median 5.2% No dividend —

S.No.	Ticker	Company	Market Cap	P/E	P/S	Total Debt (Qtr)
1	GEV	GE Vernova Inc.	212.47 Bn	20.60	4.82	2.80 Bn
2	BE	Bloom Energy Corp	56.73 Bn	109.15	14.81	0.00 Bn
3	FSLR	First Solar, Inc.	18.42 Bn	9.90	3.67	0.11 Bn
4	NXT	Nextpower Inc.	14.32 Bn	23.50	3.74	-
5	BWXT	BWX Technologies, Inc.	11.27 Bn	30.09	3.13	2.02 Bn
6	GNRC	Generac Holdings Inc.	11.25 Bn	37.26	2.44	1.33 Bn
7	INIO	Innio N.V.	10.93 Bn	117.75	3.11	2.60 Bn
8	ASTI	Ascent Solar Technologies, Inc.	0.01 Bn	-1.39	37.16	-

S.No.

Ticker

Company

Market Cap

P/E

P/S

Total Debt (Qtr)

GEV

GE Vernova Inc.

212.47 Bn

20.60

4.82

2.80 Bn

Bloom Energy Corp

56.73 Bn

109.15

14.81

0.00 Bn

FSLR

First Solar, Inc.

18.42 Bn

9.90

3.67

0.11 Bn

NXT

Nextpower Inc.

14.32 Bn

23.50

3.74

BWXT

BWX Technologies, Inc.

11.27 Bn

30.09

3.13

2.02 Bn

GNRC

Generac Holdings Inc.

11.25 Bn

37.26

2.44

1.33 Bn

INIO

Innio N.V.

10.93 Bn

117.75

3.11

2.60 Bn

ASTI

Ascent Solar Technologies, Inc.

0.01 Bn

-1.39

37.16

Ascent Solar Technologies ASTI

About

Product and Service Breakdown of Revenue (2025)

Concentration Risk By Benchmark Breakdown of Revenue (2025)

How Ascent Solar Technologies ranks

Valuation

Growth

Profitability

Financial Health

Shareholder Returns

Peer Comparison

Ascent Solar Technologies ASTI

About

Product and Service Breakdown of Revenue (2025)

Concentration Risk By Benchmark Breakdown of Revenue (2025)

How Ascent Solar Technologies ranks

Valuation

Growth

Profitability

Financial Health

Shareholder Returns

Peer Comparison

Create an account

Sign In

Reset Password