Ascent Solar Technologies, Inc. (ASTI) intrinsic value & 10-year financials
Ascent Solar Technologies, Inc. (ASTI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 29.3% a year to $76.8K, with an average return on invested capital of 7.2%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $1.85
- Market cap
- $4.7M
- Revenue (FY2025)
- $76.8K
- Revenue growth (10-yr CAGR)
- -29.3%
- ROIC (10-yr avg)
- 7.2%
- Free cash flow (FY2025)
- -$6.9M
ASTI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $76.8K | -$7.8M | -$3.09 | -$6.9M | -10256.7% | -522.6% |
| FY2024 | $41.9K | -$9.1M | -$3.46 | -$8.4M | -20378.5% | -1599.4% |
| FY2023 | $458.3K | -$17.1M | -$11.40 | -$13.4M | -3413.6% | 947.8% |
| FY2022 | $1.2M | -$19.8M | -$0.22 | -$10.7M | -1394.8% | 402.3% |
| FY2021 | $607.8K | -$6.0M | -$0.06 | -$9.7M | -1446.3% | 54.7% |
| FY2020 | $66.6K | $1.6M | $0.01 | — | -3684.8% | -9.4% |
| FY2019 | $638.4K | -$4.9M | — | -$2.7M | -509.6% | 26.7% |
| FY2018 | $862.4K | -$16.0M | — | — | -761.8% | 118.3% |
| FY2017 | $642.2K | -$18.6M | — | -$12.6M | -2203.1% | 201.4% |
| FY2016 | $1.7M | -$38.9M | — | -$16.9M | -1409.5% | 451.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Ascent Solar Technologies, Inc. is facing top-line stagnation, with revenue contracting over the decade.
Ascent Solar Technologies, Inc. has earned high returns on invested capital, averaging 18.9% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Ascent Solar Technologies, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Ascent Solar Technologies, Inc. is modeled at -29.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.58 per share.