Investment Thesis
Aeries Technology demonstrates explosive revenue growth but faces critical structural problems with negative stockholders' equity and deteriorating liquidity, raising solvency concerns. While operating cash flow generation is positive, the company's negative equity position, current ratio below 1.0x, and declining per-share earnings despite revenue growth indicate fundamental instability that overshadows near-term growth metrics.
AERTW Strengths
- Exceptional revenue growth of 21,433% YoY demonstrates massive market traction or transformational acquisition/merger activity
- Positive free cash flow of $3.9M with 7.8% FCF margin shows operational cash generation capability
- Strong interest coverage ratio of 10.6x indicates current debt service is manageable relative to operating income
AERTW Risks
- Negative stockholders' equity of -$1.2M represents technical insolvency and indicates liabilities exceed assets; company is balance sheet insolvent
- Current ratio of 0.75x indicates acute short-term liquidity stress with insufficient current assets to cover current liabilities
- Diluted EPS declined 150.5% YoY despite revenue surge, suggesting severe share dilution or substantial non-operating losses offsetting operational gains
- Modest net margin of 2.3% despite 24.2% gross margin indicates high operating expenses and limited profitability on the revenue base
Key Metrics to Watch
- Stockholders' equity trajectory - must return to positive territory for fundamental viability
- Current ratio and working capital position - critical for assessing near-term bankruptcy risk
- EPS per share trends - monitor whether dilution stabilizes as company scales
- Operating margin expansion - track ability to convert gross profit to sustainable operating income
- Debt reduction and refinancing activity - assess management's plan to address negative equity
AERTW Financial Metrics
AERTW Profitability Ratios
AERTW Balance Sheet & Liquidity
AERTW 5-Year Financial Trend
5-Year Trend Summary: Aeries Technology, Inc.'s revenue has remained relatively flat over the 5-year period, with a 0% decline. The most recent EPS of $0.91 reflects profitable operations.
AERTW Growth Metrics (YoY)
AERTW Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2026 | $17.5M | $369.0K | $0.02 |
| Q2 2026 | $16.9M | $369.0K | $0.01 |
| Q1 2026 | $15.3M | $1.6M | $0.03 |
| Q3 2025 | $17.6M | $494.0K | $0.08 |
| Q2 2025 | $16.9M | $494.0K | $-0.05 |
| Q1 2025 | $16.3M | $494.0K | $-0.39 |
| Q3 2024 | $12.7M | -$222.0K | $-1.08 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
AERTW Capital Allocation
AERTW SEC Filings
Access official SEC EDGAR filings for Aeries Technology, Inc. (CIK: 0001853044)