ASTI  Ascent Solar Technologies Inc.

Exchange

NASDAQ

Sector

Technology

Industry

Semiconductors

Market Cap.

9.48M

Vuru Grade

19.00/100

Current Price

$0.00
-0.0001 (-8.3333%)

Company Metrics

  • P/E 0
  • P/S 9.5077
  • P/B 1.882
  • EPS -0.016
  • Cash ROIC 2,505.32%
  • Cash Ratio 0.01
  • Dividend 0 / 0%
  • Avg. Vol. 13.23M
  • Shares 93.01M
  • Market Cap. 9.48M

Company Description

Ascent Solar Technologies, Inc., a development stage company, focused on commercializing flexible photovoltaic (PV) modules using its proprietary technology. It manufactures thin-film copper-indium-gallium-diselenide PV modules on plastic substrate and laser pattern the layers to create interconnected PV cells, or PV modules, through monolithic integration process. The company plans to serve the b... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

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Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for ASTI to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate ASTI's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$0.00 Current Price

$-1.33 Growth Price (DCF)

Why is this negative?


Show Free Cash Flow numbers

$-0.17 Book Price

Overvalued by 16,008.92%


Varying Cash Return on Invested Capital over the past 5 years

ASTI has efficiently invested its financial resources in buildings, projects, and equipment, resulting in strong returns. However, there is a substantial variation in their Cash ROIC from year-to-year. This company may have unreliable free cash flow or operates in a business where invested capital costs increase substantially on a sporadic basis. Look at reasons for this inconsistency to determine the likelihood of future sustainability.

ASTI has created $2,505.32 of cash for every $100 invested.
Figures in USD. Fiscal year ends in December
20122013201420152016
Free Cash Flow -22.71M -21.28M -28.69M -22.44M -17.10M
divided by
Invested Capital 27.99M 19.55M 41.44M 8.30M -130,946.00
Cash ROIC -81.14% -108.87% -69.22% -270.42% 13,056.27%

Very Poor Return on Equity over the past 5 years

ASTI has shown an inability to deliver results for shareholders. This could be due to poor management, ASTI operating in a highly competitive industry, or having a weak business in general.

ASTI has generated a $524.18 loss for every $100 of Shareholders' Equity.
Figures in USD. Fiscal year ends in December
20122013201420152016
Net Income -28.77M -30.13M -43.35M -45.80M -38.85M
divided by
Stockholders' Equity 34.23M 15.43M 7.66M 2.58M -13.99M
Return on Equity -84.05% -195.22% -565.62% -1,776.01% -

Poor Business Performance over the past 10 years

ASTI's inability to produce positive free cash flow for the majority of the past 10 years is concerning. It should be a red flag, since this company does not have a track record of delivering results for shareholders. This could be due to poor management or the nature of its business.

ASTI has been losing money for the majority of the past 10 years.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Free Cash Flow -15.46M -59.79M -52.78M -26.98M -27.84M -22.71M -21.28M -28.69M -22.44M -17.10M

Very Weak Balance Sheet

ASTI is in a poor financial position. This could be due to a slowdown in sales, indulging in debt-fuelled growth, or the nature of ASTI's business. If it is highly capital intensive (see Economic Moat), they likely have to outlay significant capital just to stay competitive. This habit often destroys more value than it creates.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Cash 37.70M 85.05M 60.51M 44.79M 23.91M 12.62M 3.32M 3.32M 326,217.00 130,946.00
Current Assets 38.25M 88.43M 61.48M 47.66M 27.11M 15.71M 6.84M 35.19M 7.99M 4.23M
Total Assets 49.82M 154.21M 172.66M 160.02M 61.42M 43.52M 28.54M 55.92M 18.75M 11.61M
Current Liabilities 1.17M 7.53M 11.25M 6.18M 4.78M 2.91M 5.67M 11.17M 10.13M 18.10M
Total Liabilities 1.19M 14.59M 18.35M 13.45M 11.42M 9.30M 13.10M 48.26M 16.17M 25.61M
Stockholder' Equity 48.62M 139.62M 154.32M 146.57M 50.00M 34.23M 15.43M 7.66M 2.58M -13.99M
Current Ratio 32.56 11.74 5.46 7.72 5.67 5.40 1.21 3.15 0.79 0.23
TL-to-TA 0.02 0.09 0.11 0.08 0.19 0.21 0.46 0.86 0.86 2.20

Low or No Reinvestment of Profits over the past 10 years

ASTI has either been retaining a small amount of their earnings or has done so inconsistently. A lack of consistency could be due to ASTI operating at a loss or them having such a strong economic moat they feel comfortable spending profits on growth. Be wary of future prospects and if applicable, inspect the moat's sustainability.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Retained Earnings -11.89M -25.11M -46.03M -77.26M -183.01M -211.78M -247.84M -299.28M -345.08M -383.93M
Retained Earnings Growth - -111.13% -83.34% -67.86% -136.86% -15.72% -17.03% -20.76% -15.30% -11.26%

Erratic Net Profit Margins over the past 10 years

ASTI has had highly erratic net profit margins which are a great cause for concern. This company may operate in a highly volatile industry, or it may just have poor performance. Look at reasons for this inconsistency to understand if there is any reason to look past it.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Net Income -6.50M -13.22M -20.92M -31.23M -105.74M -28.77M -30.13M -43.35M -45.80M -38.85M
divided by
Revenue 1.00M 1.50M 1.46M 2.48M 3.95M 1.20M 1.32M 5.34M 6.54M 1.75M
Net Profit Margin -648.61% -881.16% -1,428.81% -1,258.67% -2,677.12% -2,403.05% -2,288.76% -812.56% -700.59% -2,223.40%

Erratic Gross Profit Margins over the past 10 years

ASTI has had highly erratic gross profit margins which are a great cause for concern. This company may operate in a highly volatile industry, or it may just have poor performance. Look at reasons for this inconsistency to understand if there is any reason to look past it.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Gross Profit -2.97M -8.57M 1.46M 2.48M -20.17M 1.20M 1.32M 5.34M -3.03M -4.10M
divided by
Revenue 1.00M 1.50M 1.46M 2.48M 3.95M 1.20M 1.32M 5.34M 6.54M 1.75M
Gross Margin -296.45% -571.19% 100.00% 100.00% -510.69% 100.00% 100.00% 100.00% -46.28% -234.44%

Low Capital Intensity over the past 10 years

ASTI has consistently used a small portion of their Net Income buying new equipment or investing in new facilities. This indicates that ASTI may require minimal investment to stay competitive. This leaves them with extra money to spend on growing their business and potentially buying back stock.

-% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Capital Expenditure 11.17M 50.71M 38.57M 5.45M 7.91M 5.05M 933,617.00 600,448.00 337,761.00 241,179.00
divided by
Net Income -6.50M -13.22M -20.92M -31.23M -105.74M -28.77M -30.13M -43.35M -45.80M -38.85M
Capital Expenditure Ratio -171.70% -383.74% -184.33% -17.46% -7.48% -17.56% -3.10% -1.38% -0.74% -0.62%

No Dividend History over the past 10 years

ASTI has never distributed dividends or has recently suspended their dividend distribution.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Dividend Paid - - - - - - - - - -
divided by
Shares Outstanding 9.24M 16.90M 22.43M 27.51M 34.99M 43.85M 54.56M 10.60M 53.48M 93.01M
Dividend Paid Per Share - - - - - - - - - -
Price at Year End 26.75 3.87 5.43 3.39 0.39 0.64 0.72 1.03 0.14 0.06
Dividend Yield - - - - - - - - - -

History of Stock Buybacks over the past 10 years

ASTI has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Shares Outstanding 9.24M 16.90M 22.43M 27.51M 34.99M 43.85M 54.56M 10.60M 53.48M 93.01M
Stock Bought Back - -45.33% -24.69% -18.44% -21.38% -20.22% -19.62% 414.76% -80.18% -42.50%
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