Forensic Analysis · Materials / Mining & Chemicals · as of Aug 11, 2026
Asp Isotopes Inc. (ASPI)
A forensic read on Asp Isotopes Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
5.5
Distress distance
Watch
Earnings quality
6
Forensic signals
-2.1
P / E (ttm)
-78.3%
ROE
$659M
Market cap
0.00%
Dividend yield
475.5%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Asp Isotopes Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 5.5, placing it in the Safe zone. 6 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
142d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 41 to 142 days FY2024→FY2025 (receivables +2429% vs revenue +476%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. Deferred revenue was roughly flat (+0%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build.
20d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 9 to 20 FY2024→FY2025 (against cost of goods sold; inventory +1564% vs +703% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead. There's no FY2023 figure on file for inventory, so FY2024 has no opening balance to average against — both figures are measured on period-end balances rather than the beginning-plus-ending average, since averaging only the current year would make the move track balance-sheet growth rather than the business.
-24.6%
FY2025
Return on invested capital.Return on invested capital is -24.6% in the latest fiscal year and rising from -38% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
stopped
FY2024→FY2025
Shareholder returns — halted.Capital returns have STOPPED — $3M of buybacks + dividends in FY2024, but ~$0 in FY2025. A halt usually means the company is conserving cash.
n/m (stock split)
FY2023–FY2025
Key fundamentals
Latest Revenue$23.8M
Revenue Growth YoY+475.5%
Revenue CAGR (3yr)+1816.3%
Net Margin-670.2%
Free Cash Flow-$47.4M
Return on Equity-78.3%
Debt / Equity0.07x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Asp Isotopes Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Asp Isotopes Inc. (ASPI) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Share count (stock split).Diluted share count changed +151% over the last 2 years to FY2025, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +58.4%/yr figure isn't a real buyback/dilution read here.
67% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 67% of revenue in FY2025 — about $0.19 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 49.1% a year, small enough that totals and per-share results tell the same story.