Companies: 10,795·Total market cap: $144.5T
Aspen Aerogels, Inc.

Aspen Aerogels, Inc.

ASPNNYSEIndustrials● Active
$5.64
$-0.59(-9.47%)
Market Cap$467428835
P/E Ratio—
52W High$9.78
52W Low$2.3
Free Cash FlowFinancialsRevenue

Aspen Aerogels, Inc. (ASPN) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ASPN · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was −$4.6M for FY2025 (fiscal year ending 2025-12-31), up 88.8% year-over-year The FCF margin was -1.7%.

FY2025 Free Cash Flow−$4.6M▲ +88.8% YoY
Trailing 12M (TTM)$35.6MTrailing 4Q sum · TTM positive vs latest FY negative
FCF Margin-1.7%−$4.6M ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
aspn free cash flow history · aspn free cash flow chart · aspn free cash flow growth rate · aspn free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest−$4.6M▲ +88.8%-1.7%
FY2024−$40.7M▲ +81.3%-9.0%
FY2023−$218.1M▲ +19.9%-91.3%
FY2022−$272.4M▼ 740.5%-151.0%
FY2021−$32.4M▼ 142.9%-26.6%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
aspn free cash flow 2025 · aspn free cash flow 2024 · aspn free cash flow 2023 · aspn operating cash flow

FCF valuation metrics

Aspen Aerogels, Inc. (ASPN) trades at a FCF yield of 7.61% and a price-to-free-cash-flow ratio of 13.1x. FCF per share stands at $0.43, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)
7.61%
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
$0.43
TTM FCF ÷ Shares Outstanding
Price / FCF
x13.1
Share Price ÷ FCF per Share
EV / FCF (TTM)
x11.8
Enterprise Value basis
Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
aspn price to free cash flow · aspn free cash flow yield · aspn free cash flow per share · aspn price to cash flow ratio

Cash flow statement summary

For FY2025, Aspen Aerogels, Inc. generated $32.9M in operating cash flow and spent 37M in capital expenditures, yielding −$4.6M in free cash flow.

Operating Activities
+$32.9M
Cash from core business operations
2025-12-31
Investing Activities
−$37.4M
CapEx, acquisitions & investments
2025-12-31
Financing Activities
−$58.1M
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF ($32.9M) − |CapEx| (37M) = FCF (−$4.6M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
aspn cash flow statement · aspn cash flow statement 2025 · aspn operating cash flow · aspn cash flow from operations

Free cash flow vs peers (Industrials)

#CompanyFree Cash FlowYoY
#1
Aspen Aerogels, Inc.
Aspen Aerogels, Inc.YOU
ASPN
−$4.6M+88.8%
#2
Caterpillar Inc.
Caterpillar Inc.
CAT
$10.27B+16.5%#3
RTX Corporation
RTX Corporation
RTX
$7.94B+75.1%#4
GE Aerospace
GE Aerospace
GE
$7.26B+97.5%#5
Union Pacific Corporation
Union Pacific Corporation
UNP
$5.50B-6.7%#6
The Boeing Company
The Boeing Company
BA
−$1.88B+87.0%
Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Aspen Aerogels, Inc. (ASPN) reported free cash flow of −$4.6M for FY2025 (fiscal year ending 2025-12-31), up 88.8% year-over-year. The FCF margin was -1.7%.

Aspen Aerogels, Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 15 fiscal years.

Aspen Aerogels, Inc.'s FCF yield is 7.61% and price-to-FCF ratio is 13.1x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

ASPN free cash flow · 8 questions

Aspen Aerogels, Inc. free cash flow was −$4.6M for FY2025, up 88.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $35.6M.

ASPN free cash flowASPN FCFASPN FCF 2025ASPN free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Aspen Aerogels, Inc. · Aspen Aerogels, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026