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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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How management deployed cash over 3 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 1%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 3 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $98.5M covers the $46.9M due within a year 2.1× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~7.0% on $595.0M of debt.
Cash of $98.5M fully covers short-term debt of $46.9M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $13.4M dividends + $0 buybacks = $13.4M returned on -$5.2M FCF.
2 consecutive years of dividend increases · 84%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
EOD close · as of 2026-10-21
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | $1.53B 100.0% | $1.09B 100.0% | $1.02B 100.0% |
| Cost of Revenue | $1.22B 80.1% | $857.7M 79.0% | $808.9M 79.7% |
| Gross Profit | $304.1M 19.9% | $228.2M 21.0% | $206.7M 20.3% |
| Research & Development | $26.5M 1.7% | $19.6M 1.8% | $17.1M 1.7% |
| Selling, General & Admin | $180.6M 11.8% | $124.7M 11.5% | $117.1M 11.5% |
| Total Operating Expenses | $231.0M 15.1% | $159.7M 14.7% | $147.6M 14.5% |
| Operating Income | $73.1M 4.8% | $68.5M 6.3% | $59.0M 5.8% |
| Interest Expense | $41.8M 2.7% | $34.1M 3.1% | $38.0M 3.7% |
| Other Income (Expense), net | -$61.9M -4.1% | -$26.8M -2.5% | -$41.7M -4.1% |
| Pretax Income | $11.2M 0.7% | $41.7M 3.8% | $17.3M 1.7% |
| Income Tax Expense | $1.5M 0.1% | $10.9M 1.0% | $6.1M 0.6% |
| Net Income | $9.7M 0.6% | $30.7M 2.8% | $11.2M 1.1% |
| Per Share | |||
| EPS (Basic) | $0.17 | $0.76 | $0.28 |
| EPS (Diluted) | $0.17 | $0.76 | $0.28 |
| Weighted Avg Shares (Basic) | 58.7M | 40.4M | 40.3M |
| Weighted Avg Shares (Diluted) | 58.8M | 40.4M | 40.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 2 positive fiscal years (FY2023, FY2024). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $11.23 today, the market must believe free cash flow compounds 16.1%/yr for a decade (off $36.8M on the 3-yr avg basis).
On the basis ($36.8M) the requirement is 16.1%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.08B shares (market data) · net debt $496.4M
mean 45.5% · volatility σ 219% · implied rate exceeded in 1/2 yrs
Central path = implied 16.1%/yr growth; shaded band = ±1σ (219%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-10-21
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 1% against ROIC 1% — 1% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Cost of Revenue | 79.7 | 79.0 | 80.1 |
| Gross Profit | 20.3 | 21.0 | 19.9 |
| R&D | 1.7 | 1.8 | 1.7 |
| SG&A | 11.5 | 11.5 | 11.8 |
| Operating Income | 5.8 | 6.3 | 4.8 |
| Income Tax | 0.6 | 1.0 | 0.1 |
| Net Income | 1.1 | 2.8 | 0.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AEBI: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.