Aetherion Technologies Inc. is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.
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~$1.0
Valuation models combined (2)
Base case. Range ~$0.9–$1.0. Weighted average of 2 models (growth cash-flow model, forward price-to-sales vs peers), the growth cash-flow model counting double.
No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.
Aetherion Technologies Inc. valuation: adjust assumptions and compare models →
Revenue for the twelve months was $23m, down 42.7% on a year earlier, a steeper fall than the 40.3% decline a quarter earlier. Free-cash-flow margin fell to -72.6% from -18.5% a year earlier. Operating margin narrowed to -61.0% from -9.8%. It passes 6 of our 7 financial-health checks. Our valuation models combined value is $0.96 a share, against a share price of $1.89.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Aetherion Technologies Inc.'s trailing-twelve-month revenue fell 42.7% year on year, with a free-cash-flow margin of -72.6%. Where it stands out: long-term debt as % of assets of 0.0% ranks 1 of 59 industrial machinery & supplies & components companies we cover. Where it lags: revenue growth of -42.7% ranks 75 of 75 industrial machinery & supplies & components companies we cover.
Current signal Net margin compressing: TTM net margin fell to -264.3%, down 210.6pp year over year.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for AETR from the sources we follow. See filings →
We value Aetherion Technologies Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.14 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$1.0 ~$0.9–$1.1 | Primary model, counts double |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$0.9 ~$1.0–$2.0 | Included, half weight |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$1.0 ~$0.9–$1.0 | 2 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Aetherion Technologies Inc. with Industrial Machinery & Supplies & Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Share price | $20.10 | $11.30 | $37.60 | $13.30 | $23.70 | $53.30 | $23.70 | $7.70 | $6.62 | $3.58 | $1.57 |
| Market value | $129m | $103m | $450m | $176m | $341m | $731m | $384m | $132m | $114m | $62m | $27m |
| + Net debt (− = net cash) | $35m | $18m | −$17m | $15m | $25m | $61m | −$56m | −$33m | $63m | $19m | −$24m |
| Enterprise value | $163m | $121m | $432m | $191m | $366m | $791m | $329m | $99m | $177m | $81m | $3m |
| Multiples | |||||||||||
| Price / sales | 0.2x | 0.2x | 0.8x | 0.7x | 1.1x | 2.9x | 1.2x | 0.4x | 1.7x | 1.5x | 1.2x |
| Price / earnings | — | — | — | — | n/m | — | 28.1x | — | — | — | — |
| Price / free cash flow | — | — | — | — | — | — | — | — | — | 18.3x | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Next results: November 12, 2026, after the close. Analysts expect revenue of $2m and EPS of −$0.27 (range −$0.33 to −$0.22) for the quarter.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$1.48 | −0% | $10m | −89% |
| Next | −$0.61 | +59% | $11m | +9% |
The consensus EPS forecast for the current fiscal year is +24.0% on 90 days ago. In the last 30 days, 0 analysts raised Aetherion Technologies Inc.'s forecast and 2 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$1.20 | −$0.76 |
| 60 days ago | −$1.20 | −$0.76 |
| 30 days ago | −$1.20 | −$0.76 |
| 7 days ago | −$1.46 | −$0.61 |
| Now | −$1.48 | −$0.61 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.35 | −$0.40 | −12.8% |
| Mar 2026 | −$0.39 | −$0.27 | +29.8% |
| Dec 2025 | −$0.42 | −$0.60 | −42.7% |
| Sept 2025 | −$0.57 | −$0.38 | +33.0% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| AETR | −56% | −68% | −14% | −46% | −56% | +20% |
| Industry peers (median) | +19% | −13% | +21% | +2% | +13% | +3% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| AETR | 17% | 33% | 42% | 33% | 25% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| AETR | −82% | −68% | −61% | −53% | −67% | −32% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 99% from February 8, 2021 to November 20, 2025. Getting back needed a 7796% gain, and the shares have not yet recovered.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY14 Q4 | $130.6M |
| FY15 Q4 | $621.2M |
| FY16 Q4 | $483.8M |
| FY17 Q4 | $564.4M |
| FY18 Q4 | $270.3M |
| FY19 Q4 | $305.3M |
| FY20 Q4 | $252.5M |
| FY21 Q4 | $312.4M |
| FY22 Q4 | $305.7M |
| FY23 Q4 | $68.2M |
| FY24 Q4 | $40.7M |
| FY25 Q4 | $23.3M |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY14 Q4 | -20.4% |
| FY15 Q4 | 375.7% |
| FY16 Q4 | -22.1% |
| FY17 Q4 | 16.7% |
| FY18 Q4 | -52.1% |
| FY19 Q4 | 13.0% |
| FY20 Q4 | -17.3% |
| FY21 Q4 | 23.7% |
| FY22 Q4 | -2.1% |
| FY23 Q4 | -77.7% |
| FY24 Q4 | -40.3% |
| FY25 Q4 | -42.7% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY14 Q4 | -121.5% |
| FY15 Q4 | -17.8% |
| FY16 Q4 | -26.0% |
| FY17 Q4 | -11.8% |
| FY18 Q4 | -19.5% |
| FY19 Q4 | -7.0% |
| FY20 Q4 | -8.7% |
| FY21 Q4 | -9.8% |
| FY22 Q4 | -16.4% |
| FY23 Q4 | -66.9% |
| FY24 Q4 | -92.7% |
| FY25 Q4 | -61.0% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY14 Q4 | -89.6% |
| FY15 Q4 | -11.9% |
| FY16 Q4 | -18.7% |
| FY17 Q4 | -13.2% |
| FY18 Q4 | -14.0% |
| FY19 Q4 | -8.0% |
| FY20 Q4 | -16.7% |
| FY21 Q4 | -18.5% |
| FY22 Q4 | -16.0% |
| FY23 Q4 | -28.9% |
| FY24 Q4 | 8.3% |
| FY25 Q4 | -72.6% |
| Fiscal year | 2011 Mar 2011 | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||||||
| Revenue | 37 | 156 | 164 | 131 | 621 | 484 | 564 | 270 | 305 | 252 | 312 | 306 | 68 | 41 | 23 |
| Gross profit | −48 | −108 | −194 | −159 | 408 | 191 | 268 | −53 | 68 | 40 | 48 | 36 | 0 | 3 | 3 |
| EBITDA | −45 | −97 | −178 | −140 | −97 | −111 | −52 | −36 | −5 | −8 | −17 | −38 | −40 | −36 | −13 |
| Operating income | −48 | −108 | −194 | −159 | −110 | −126 | −67 | −53 | −21 | −22 | −31 | −50 | −46 | −38 | −14 |
| Net income | −42 | −99 | −185 | −148 | −99 | −98 | −10 | −31 | 0 | −7 | 14 | −33 | −50 | −22 | −62 |
| Diluted EPS | −$10.00 | −$18.30 | −$32.20 | −$23.40 | −$15.50 | −$10.70 | −$0.80 | −$2.40 | $0.00 | −$0.50 | $0.80 | −$1.91 | −$2.90 | −$1.26 | −$3.56 |
| Growth (year on year) | |||||||||||||||
| Revenue | — | +323.2% | +5.4% | −20.4% | +375.7% | −22.1% | +16.7% | −52.1% | +13.0% | −17.3% | +23.7% | −2.1% | −77.7% | −40.3% | −42.7% |
| Net income | — | — | — | — | — | — | — | — | — | — | — | −339.4% | — | — | — |
| Diluted EPS | — | — | — | — | — | — | — | — | — | — | — | −338.8% | — | — | — |
| Margins | |||||||||||||||
| Gross margin | −130.4% | −69.6% | −118.4% | −121.5% | 65.6% | 39.4% | 47.5% | −19.5% | 22.4% | 15.7% | 15.4% | 11.8% | 0.5% | 7.0% | 11.5% |
| EBITDA margin | −121.2% | −62.3% | −108.5% | −107.2% | −15.6% | −22.9% | −9.2% | −13.4% | −1.7% | −3.2% | −5.3% | −12.6% | −58.4% | −87.3% | −57.9% |
| Operating margin | −130.4% | −69.6% | −118.4% | −121.5% | −17.8% | −26.0% | −11.8% | −19.5% | −7.0% | −8.7% | −9.8% | −16.4% | −66.9% | −92.7% | −61.0% |
| Net margin | −114.6% | −63.5% | −113.0% | −113.3% | −16.0% | −20.2% | −1.8% | −11.7% | 0.0% | −2.9% | 4.4% | −10.7% | −72.9% | −53.7% | −264.3% |
| Free-cash-flow margin | −113.2% | −73.8% | −87.3% | −89.6% | −11.9% | −18.7% | −13.2% | −14.0% | −8.0% | −16.7% | −18.5% | −16.0% | −28.9% | 8.3% | −72.6% |
| Cash flow | |||||||||||||||
| Cash from operations | −38 | −85 | −117 | −107 | −69 | −82 | −49 | −27 | −16 | −35 | −44 | −35 | −13 | 7 | −14 |
| Capital spending | 3 | 30 | 26 | 10 | 5 | 9 | 25 | 10 | 9 | 7 | 14 | 14 | 6 | 4 | 3 |
| Free cash flow | −42 | −115 | −143 | −117 | −74 | −90 | −75 | −38 | −25 | −42 | −58 | −49 | −20 | 3 | −17 |
| Stock-based pay | 5 | 12 | 14 | 10 | 15 | 10 | 7 | 3 | 1 | 2 | 2 | 2 | 1 | 1 | 1 |
| Free cash flow after stock pay | −47 | −127 | −158 | −127 | −89 | −101 | −82 | −41 | −26 | −45 | −60 | −51 | −21 | 3 | −18 |
| Balance sheet | |||||||||||||||
| Cash | — | 189 | 179 | 93 | 28 | 61 | 72 | 61 | 46 | 64 | 125 | 86 | 12 | 15 | 27 |
| Total debt | 25 | 81 | 66 | 77 | 62 | 79 | 54 | 76 | 71 | 125 | 69 | 53 | 75 | 34 | 3 |
| Net debt (negative = net cash) | — | −108 | −113 | −17 | 35 | 18 | −17 | 15 | 25 | 61 | −56 | −33 | 63 | 19 | −24 |
| Diluted shares | 4m | 5m | 6m | 6m | 6m | 9m | 12m | 13m | 14m | 14m | 16m | 17m | 17m | 17m | 17m |
| Last 12 months unless stated | AETR | TGEN | FTEK | CVR | INLF | CPSH | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $23m | $25m | $27m | $27m | $18m | $32m | $1.4bn |
| Revenue growth, last 12 months | −42.7% | −6.5% | 8.9% | 7.1% | 16.5% | 25.6% | 8.3% |
| Revenue growth, 3-year average | −47.8% | 1.8% | −0.6% | −5.2% | — | 5.7% | 4.0% |
| Revenue growth, latest quarter | — | −21.2% | 16.7% | −0.8% | — | 2.9% | 9.1% |
| Gross margin | 11.5% | 36.2% | 44.7% | 11.0% | 23.3% | 14.1% | 35.2% |
| Operating margin | −61.0% | −42.8% | −16.8% | −8.3% | −31.6% | −1.9% | 13.1% |
| Operating margin, 3-year average | −27.5% | −25.9% | −15.5% | −13.0% | — | −5.7% | 13.7% |
| Net margin | −264.3% | −42.3% | −12.8% | −8.9% | −29.6% | −0.1% | 8.9% |
| Cash from operations / revenue | −61.1% | −47.2% | −0.8% | −3.6% | −10.3% | −5.2% | 11.9% |
| Free-cash-flow margin | −72.6% | −48.2% | −4.3% | −5.2% | −11.3% | −8.6% | 8.8% |
| Free-cash-flow margin, 3-year average | −34.8% | −18.7% | −4.0% | −5.3% | — | −9.7% | 9.8% |
| Stock pay / revenue | 3.5% | 1.8% | 0.8% | — | 27.9% | 1.0% | 0.8% |
| Change in share count | 0.6% | 18.6% | 1.5% | 0.0% | 32.6% | 19.1% | −0.0% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -42.7% | 8.3% | 75 of 75 |
| Change in growth rate Growth | -2.4pp | +1.2pp | 62 of 75 |
| Gross margin Profitability | 11.5% | 35.4% | 65 of 70 |
| Operating margin Profitability | -61.0% | 13.0% | 71 of 75 |
| Net margin Profitability | -264.3% | 8.9% | 74 of 76 |
| Free-cash-flow margin Cash generation | -72.6% | 9.1% | 72 of 76 |
| Stock pay as % of revenue Cash generation | 3.5% | 0.8% | 63 of 70 |
| Long-term debt as % of assets Balance sheet | 0.0% | 23.4% | 1 of 59 |
| Change in share count Balance sheet | 0.6% | -0.0% | 50 of 73 |
| Days sales outstanding Balance sheet | 159 days | 63 days | 64 of 65 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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