ASP Isotopes (ASPI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

ASP Isotopes

NasdaqCM•Basic Materials•Chemicals

$3.59-0.23(-0.06%)Pre-market

Market Cap

$387.78M

P/S

12.6x

P/B

1.4x

ASP Isotopes Inc., a development stage advanced materials company, engages in the production, distribution, marketing, and sale of isotopes in South Africa,Hong Kong, and United States. It operates in two segments, Nuclear Fuels, and Specialist Isotopes and Related Services. The Nuclear Fuels segment focuses on the research and development of technologies and methods used to produce high-assay low-enriched uranium (HALEU) and Lithium-6 for the advanced nuclear fuels target end market. Its Specialist Isotopes and Related Services segment engages in the research and development of technologies and methods used to separate high-value, low-volume isotopes, such as C-14, Mo-100 and Si-28, for target end markets, including pharmaceuticals and agrochemicals, nuclear medical imaging, and semiconductors; provision of related services; and operation of PET labs. The company offers the Aerodynamic Separation Process (ASP) technology, which separates gas species and isotopes in a volatile state; and the Quantum Enrichment (QE) technology, which separates isotopes. It also produces and commercializes Molybdenum-100, Molybdenum-98, and Ytterbium-176 for the nuclear medical industry. In addition, the company develops Zinc-68, Nickel-64, and Xenon-129/136 for the nuclear medical industry; Lithium-7, Uranium-235, and Chlorine-37 for the energy industry; and Germanium-70/72/74 for semiconductor markets. The company was incorporated in 2021 and is based in Dallas, Texas.

How this company scores

AverageMetricSide Score: 51/100

Strongest: Balance Sheet & Red Flags (21/25); weakest: Cash & Earnings Quality (6/25).

Profitability8/25

Growth16/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality6/25

Strengths

Growing revenueLong cash runwayLow leverageImproving leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 12.6x5y range 12.6x – 210.5x

Currently below its 11-quarter median.

P/B · 1.4x5y range 1.4x – 28.5x

Currently below its 16-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $387.78M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $30.85M
Q. Revenue: $5.12M
TTM EBITDA: $-93.58M
TTM Op. Income: $-99.07M
Q. Op. Income: $-34.20M
TTM Net Income: $-117.34M
Q. Net Income: $-33.99M
EPS: $-0.27
Shares Out.: $122.72M

$30.85M in TTM revenue grew 573.4% YoY, reaching $5.12M last quarter. TTM EBITDA of $-93.58M and TTM operating income of $-99.07M show growth is flowing through to the bottom line. However, net income is negative at $117.34M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 28.9%
EBITDA Margin: -644.0%
Op. Margin: -667.5%
Net Margin: -663.5%

Op. margin of -667.5% is up 331.3% YoY — cost efficiency is improving. Net margin at -663.5% and gross margin of 28.9% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 12.6x
P/B Ratio: 1.4x

P/S of 12.6x and P/B of 1.4x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $572.05M
Cash: $219.60M
Long-Term Debt: $5.26M
Book Value: $274.79M
D/E Ratio: 0.0
Debt/EBITDA: N/A

With $572.05M in assets and $5.26M in long-term debt, D/E is 0.0and book value is $274.79M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-23.33M
TTM Free Cash Flow: $-82.46M
FCF Margin: -267.3%
FCF / Net Income: 0.7

TTM FCF of $-82.46M on $-23.33M in operating cash flow. The FCF / Net Income ratio of 0.7x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 7 consecutive quarters — a weakening trend.