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Aeries Technology (AERTW) Financials

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Annual Income Statements for Aeries Technology

Annual Income Statements for Aeries Technology

This table shows Aeries Technology's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025 2026
Period end date 12/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 9.76 1.45 16 -20 2.55
Consolidated Net Income / (Loss)		 9.76 1.71 17 -22 3.47
Net Income / (Loss) Continuing Operations		 9.76 1.71 17 -22 3.47
Total Pre-Tax Income 		9.56 2.77 19 -23 5.47
Total Operating Income		 -4.46 2.33 2.99 -29 4.52
Total Gross Profit		 0.00 14 22 17 17
Total Revenue		 0.00 53 73 70 70
Operating Revenue		 - 53 73 70 70
Total Cost of Revenue		 0.00 39 51 53 53
Operating Cost of Revenue		 - 39 51 53 53
Total Operating Expenses		 4.46 11 19 45 13
Selling, General & Admin Expense		 - 11 19 45 13
Total Other Income / (Expense), net		 14 0.44 16 6.10 0.95
Interest Expense		 - -0.01 0.19 0.43 0.15
Other Income / (Expense), net		 14 0.43 16 6.53 1.09
Income Tax Expense		 - 1.06 1.87 -1.07 1.99
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 0.26 1.60 -1.88 0.92
Basic Earnings per Share		 $0.68 $0.00 $0.91 ($0.46) $0.05
Weighted Average Basic Shares Outstanding		 28.75M 0.00 15.53M 43.08M 48.33M
Diluted Earnings per Share		 $0.68 $0.00 $0.91 ($0.46) $0.05
Weighted Average Diluted Shares Outstanding		 28.75M - 15.53M 43.08M 48.33M
Weighted Average Basic & Diluted Shares Outstanding		 28.75M - - - 45.91M

Quarterly Income Statements for Aeries Technology

This table shows Aeries Technology's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 12/31/2023 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.82 16 -15 -2.19 3.05 -5.76 1.51 0.24 1.08 -0.28
Consolidated Net Income / (Loss)		 0.93 -16 -15 -2.31 2.05 -6.02 1.68 0.64 1.23 -0.08
Net Income / (Loss) Continuing Operations		 0.93 -16 -15 -2.31 2.05 -6.02 1.68 0.64 1.23 -0.08
Total Pre-Tax Income 		1.61 16 -16 -2.83 0.61 -4.04 2.01 1.44 1.60 0.42
Total Operating Income		 1.49 0.73 -16 -4.10 -5.16 -3.10 0.82 1.99 0.77 0.94
Total Gross Profit		 4.82 6.05 4.01 3.58 4.04 5.09 3.78 5.02 3.34 5.16
Total Revenue		 18 19 17 17 18 19 15 17 17 20
Operating Revenue		 18 19 17 17 18 19 15 17 17 20
Total Cost of Revenue		 13 13 13 13 14 14 12 12 14 15
Operating Cost of Revenue		 13 13 13 13 14 14 12 12 14 15
Total Operating Expenses		 3.34 5.31 20 7.67 9.20 8.19 2.96 3.04 2.57 4.22
Selling, General & Admin Expense		 3.34 5.31 20 7.67 9.20 8.19 2.96 3.04 2.57 4.22
Total Other Income / (Expense), net		 0.12 -16 0.01 1.26 5.77 -0.94 1.19 -0.55 0.83 -0.52
Interest Expense		 0.01 0.03 0.07 0.05 0.14 0.17 0.10 0.02 -0.01 0.04
Other Income / (Expense), net		 0.13 -16 0.08 1.31 5.91 -0.77 1.29 -0.53 0.82 -0.48
Income Tax Expense		 0.68 0.56 -1.09 -0.53 -1.44 1.99 0.33 0.79 0.37 0.50
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.11 0.20 -0.50 -0.12 -1.01 -0.26 0.16 0.40 0.16 0.20
Basic Earnings per Share		 $0.00 ($1.08) ($0.39) ($0.05) $0.08 ($0.10) $0.03 $0.01 $0.02 ($0.01)
Weighted Average Basic Shares Outstanding		 0.00 15.39M 37.85M 44.36M 44.52M 43.08M 47.15M 47.31M 48.76M 48.33M
Diluted Earnings per Share		 $0.00 ($1.08) ($0.39) ($0.05) $0.08 ($0.10) $0.03 $0.01 $0.02 ($0.01)
Weighted Average Diluted Shares Outstanding		 0.00 15.39M 37.85M 44.36M 44.52M 43.08M 47.15M 47.31M 48.76M 48.33M
Weighted Average Basic & Diluted Shares Outstanding		 - 15.39M - 44.50M 44.56M 0.00 47.15M 48.85M 50.21M 45.91M

Annual Cash Flow Statements for Aeries Technology

This table details how cash moves in and out of Aeries Technology's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025 2026
Period end date 12/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -0.46 0.78 0.95 0.68 2.11
Net Cash From Operating Activities		 -0.45 2.11 -4.30 -1.01 6.77
Net Cash From Continuing Operating Activities		 -0.45 2.11 -4.30 -1.01 6.77
Net Income / (Loss) Continuing Operations		 9.76 1.71 17 -22 3.47
Consolidated Net Income / (Loss)		 9.76 1.71 17 -22 3.47
Depreciation Expense		 - 1.17 1.35 1.38 0.84
Non-Cash Adjustments To Reconcile Net Income		 -14 4.60 1.42 24 0.65
Changes in Operating Assets and Liabilities, net		 4.02 -5.36 -24 -4.44 1.81
Net Cash From Investing Activities		 0.00 -1.56 -1.74 -0.86 -1.42
Net Cash From Continuing Investing Activities		 0.00 -1.56 -1.74 -0.86 -1.42
Purchase of Property, Plant & Equipment		 - -1.60 -1.52 -1.48 -1.11
Sale of Property, Plant & Equipment		 - 0.01 0.01 0.22 0.09
Other Investing Activities, net		 - 0.03 -0.23 0.41 -0.39
Net Cash From Financing Activities		 -0.01 0.25 7.06 2.43 -3.02
Net Cash From Continuing Financing Activities		 -0.01 0.25 7.06 2.43 -3.02
Repayment of Debt		 -0.01 -0.62 -2.73 -3.01 -2.30
Repurchase of Common Equity		 0.00 - 0.00 -0.72 -0.58
Issuance of Debt		 0.00 1.55 3.43 1.51 0.00
Issuance of Common Equity		 0.00 0.00 8.67 4.68 0.01
Other Financing Activities, net		 - -0.68 -2.31 -0.02 -0.14
Effect of Exchange Rate Changes		 - -0.03 -0.06 0.12 -0.22
Cash Interest Paid		 - 0.27 0.47 0.91 0.35
Cash Income Taxes Paid		 - 1.23 1.01 2.50 1.28

Quarterly Cash Flow Statements for Aeries Technology

This table details how cash moves in and out of Aeries Technology's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 4.66 -4.46 2.11 -0.57 -1.24 0.38 -0.63 -0.27 0.70 2.31
Net Cash From Operating Activities		 -1.36 -4.32 -1.72 1.93 -2.08 0.86 1.37 1.03 2.37 2.01
Net Cash From Continuing Operating Activities		 -1.36 -4.32 -1.72 1.93 -2.08 0.86 1.37 1.03 2.37 2.01
Net Income / (Loss) Continuing Operations		 -16 32 -15 -2.31 2.05 -6.02 1.68 0.64 1.24 -0.08
Consolidated Net Income / (Loss)		 -16 32 -15 -2.31 2.05 -6.02 1.68 0.64 1.24 -0.08
Depreciation Expense		 0.34 0.35 0.37 0.37 0.35 0.29 0.21 0.21 0.21 0.22
Non-Cash Adjustments To Reconcile Net Income		 0.62 -0.25 14 1.80 2.59 5.72 -0.69 0.70 -1.03 1.67
Changes in Operating Assets and Liabilities, net		 14 -37 -0.31 2.06 -7.07 0.88 0.18 -0.53 1.95 0.21
Net Cash From Investing Activities		 -0.26 -0.67 -0.61 -0.38 -0.29 0.42 -0.87 -0.07 -0.24 -0.24
Net Cash From Continuing Investing Activities		 -0.26 -0.67 -0.61 -0.38 -0.29 0.42 -0.87 -0.07 -0.24 -0.24
Purchase of Property, Plant & Equipment		 -0.33 -0.46 -0.37 -0.61 -0.39 -0.11 -0.26 -0.37 -0.23 -0.25
Sale of Property, Plant & Equipment		 - 0.01 0.00 0.01 0.09 0.12 0.00 0.08 - 0.00
Other Investing Activities, net		 0.07 -0.22 -0.24 0.23 0.02 0.40 -0.61 0.22 -0.01 0.01
Net Cash From Financing Activities		 6.28 0.58 4.39 -2.14 1.09 -0.91 -1.15 -1.18 -1.38 0.69
Net Cash From Continuing Financing Activities		 6.28 0.58 4.39 -2.14 1.09 -0.91 -1.15 -1.18 -1.38 0.69
Repayment of Debt		 -0.46 -1.78 -0.51 -2.81 0.50 -0.19 -1.15 -1.18 -1.34 1.36
Issuance of Common Equity		 8.67 - 4.68 - - - 0.00 - - 0.01
Other Financing Activities, net		 -2.41 1.26 -0.02 - - - 0.00 - -0.04 -0.10
Effect of Exchange Rate Changes		 0.01 -0.05 0.06 0.02 0.03 0.01 0.02 -0.05 -0.05 -0.15
Cash Interest Paid		 0.08 0.21 0.12 0.20 0.29 0.30 0.11 0.12 -0.03 0.14
Cash Income Taxes Paid		 0.43 -0.05 0.80 -0.25 0.77 1.18 0.08 0.14 0.73 0.33

Annual Balance Sheets for Aeries Technology

This table presents Aeries Technology's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2024 2025 2026
Period end date 12/31/2021 12/31/2022 3/31/2024 3/31/2025 3/31/2026
Total Assets		 234 235 49 40 42
Total Current Assets		 0.90 0.36 33 21 24
Cash & Equivalents		 0.50 0.05 2.08 2.76 4.88
Accounts Receivable		 - - 24 11 13
Prepaid Expenses		 0.40 0.30 7.00 7.58 6.17
Plant, Property, & Equipment, net		 0.00 0.00 3.58 1.57 1.75
Total Noncurrent Assets		 233 235 13 17 16
Long-Term Investments		 - - 1.61 1.83 1.90
Noncurrent Deferred & Refundable Income Taxes		 - - 1.93 4.06 3.69
Other Noncurrent Operating Assets		 233 235 9.45 11 11
Total Liabilities & Shareholders' Equity		 234 235 49 40 42
Total Liabilities		 21 4.97 51 46 44
Total Current Liabilities		 0.39 4.01 38 32 31
Short-Term Debt		 0.21 0.20 6.78 6.50 4.44
Accounts Payable		 0.00 0.68 6.62 8.15 9.27
Accrued Expenses		 0.18 3.13 3.12 2.43 3.57
Other Current Liabilities		 - - 22 15 13
Total Noncurrent Liabilities		 21 0.96 12 14 14
Long-Term Debt		 - - 1.44 1.10 0.80
Noncurrent Deferred & Payable Income Tax Liabilities		 - - 0.09 0.14 0.20
Other Noncurrent Operating Liabilities		 21 0.96 11 12 13
Redeemable Noncontrolling Interest		 232 235 0.73 -0.04 0.45
Total Equity & Noncontrolling Interests		 -20 -4.51 -1.91 -6.06 -3.03
Total Preferred & Common Equity		 -20 -4.51 -12 -5.80 -3.03
Preferred Stock		 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -20 -4.51 -12 -5.80 -3.03
Common Stock		 0.00 0.00 0.00 27 29
Retained Earnings		 -20 -4.51 -12 -31 -29
Treasury Stock		 - - 0.00 -0.72 -1.30
Accumulated Other Comprehensive Income / (Loss)		 - - -0.57 -0.91 -1.98
Other Equity Adjustments		 - 0.00 - 0.00 0.00
Noncontrolling Interest		 - - 10 -0.26 0.00

Quarterly Balance Sheets for Aeries Technology

This table presents Aeries Technology's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 9/30/2023 12/31/2023 6/30/2024 9/30/2024 12/31/2024 6/30/2025 9/30/2025 12/31/2025
Total Assets		 50 47 52 52 51 39 40 42
Total Current Assets		 0.05 32 34 29 25 20 21 21
Cash & Equivalents		 0.01 6.54 4.20 3.63 2.39 2.14 1.87 2.57
Accounts Receivable		 - 18 22 18 14 9.55 11 10
Prepaid Expenses		 0.04 7.30 7.20 7.34 8.02 8.41 7.37 8.43
Plant, Property, & Equipment, net		 0.00 3.54 3.55 3.73 3.59 1.67 1.73 1.79
Total Noncurrent Assets		 50 11 14 19 23 17 18 19
Long-Term Investments		 - 1.56 1.68 1.72 1.73 1.89 1.88 1.92
Noncurrent Deferred & Refundable Income Taxes		 - 1.48 3.20 3.90 5.52 4.06 4.02 4.00
Other Noncurrent Operating Assets		 50 8.13 9.54 13 15 11 12 13
Total Liabilities & Shareholders' Equity		 50 47 52 52 51 39 40 42
Total Liabilities		 10 80 51 53 50 43 43 43
Total Current Liabilities		 9.39 68 39 39 35 31 29 29
Short-Term Debt		 0.56 6.24 6.40 4.48 6.25 5.40 4.37 3.08
Accounts Payable		 6.35 7.77 6.63 7.33 7.82 7.66 7.41 6.44
Accrued Expenses		 2.48 2.78 2.16 2.60 2.61 1.90 1.99 2.39
Other Current Liabilities		 - 51 24 25 18 16 15 17
Total Noncurrent Liabilities		 1.00 12 12 14 15 13 14 14
Long-Term Debt		 - 1.14 1.68 1.51 1.48 1.09 0.94 0.84
Noncurrent Deferred & Payable Income Tax Liabilities		 - 0.11 0.12 0.13 0.13 0.17 0.25 0.17
Other Noncurrent Operating Liabilities		 1.00 11 10 12 13 11 13 13
Redeemable Noncontrolling Interest		 50 9.74 0.74 0.69 0.04 0.06 0.32 0.40
Total Equity & Noncontrolling Interests		 -10 -43 0.19 -2.00 0.62 -4.49 -2.98 -1.19
Total Preferred & Common Equity		 -10 -43 -0.23 -2.32 0.69 -4.29 -2.91 -1.19
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -10 -43 -0.23 -2.32 0.69 -4.29 -2.91 -1.19
Common Stock		 0.00 0.00 27 27 27 27 28 29
Retained Earnings		 -10 -42 -26 -29 -26 -30 -30 -29
Treasury Stock		 - - - - - -0.72 -0.72 -0.72
Accumulated Other Comprehensive Income / (Loss)		 - -0.58 -0.64 -0.80 -0.89 -0.91 -0.98 -1.04
Other Equity Adjustments		 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest		 - 0.00 0.42 0.32 -0.07 -0.20 -0.07 0.00

Annual Metrics And Ratios for Aeries Technology

This table displays calculated financial ratios and metrics derived from Aeries Technology's official financial filings.

Metric 2022 2023 2024 2025 2026
Period end date 12/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
DEI Shares Outstanding		 28,750,000.00 28,750,000.00 15,619,005.00 44,557,997.00 50,209,717.00
DEI Adjusted Shares Outstanding		 28,750,000.00 28,750,000.00 15,619,005.00 44,557,997.00 50,209,717.00
DEI Earnings Per Adjusted Shares Outstanding		 0.34 0.05 1.00 -0.44 0.05
Growth Metrics		 - - - - -
Revenue Growth		 0.00% 0.00% 36.55% -3.19% -0.26%
EBITDA Growth		 0.00% -58.86% 425.58% -200.93% 130.91%
EBIT Growth		 0.00% -71.12% 599.78% -215.16% 125.22%
NOPAT Growth		 0.00% 132.21% 87.44% -847.32% 114.26%
Net Income Growth		 0.00% -82.52% 911.49% -225.14% 116.09%
EPS Growth		 0.00% -100.00% 0.00% -150.55% 110.87%
Operating Cash Flow Growth		 0.00% 572.66% -303.65% 76.53% 771.16%
Free Cash Flow Firm Growth		 0.00% 0.00% -100.28% -2,016.70% 129.37%
Invested Capital Growth		 0.00% 0.00% 0.00% -192.70% -37.19%
Revenue Q/Q Growth		 0.00% 318.40% 0.00% 0.00% 1.18%
EBITDA Q/Q Growth		 0.00% 284.75% 0.00% 0.00% 194.12%
EBIT Q/Q Growth		 0.00% 229.68% 0.00% 0.00% 337.94%
NOPAT Q/Q Growth		 0.00% 124.72% 0.00% 0.00% 344.89%
Net Income Q/Q Growth		 0.00% 433.85% 0.00% 0.00% 240.76%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 225.00%
Operating Cash Flow Q/Q Growth		 0.00% -7.46% -2,262.09% 83.72% 20.37%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% -100.00% 0.00% 0.00% -186.39%
Profitability Metrics		 - - - - -
Gross Margin		 0.00% 25.72% 29.85% 23.82% 24.71%
EBITDA Margin		 0.00% 7.41% 28.50% -29.71% 9.21%
Operating Margin		 0.00% 4.39% 4.12% -40.98% 6.45%
EBIT Margin		 0.00% 5.20% 26.64% -31.68% 8.01%
Profit (Net Income) Margin		 0.00% 3.21% 23.80% -30.76% 4.96%
Tax Burden Percent		 102.12% 61.68% 90.22% 95.27% 63.57%
Interest Burden Percent		 100.00% 100.22% 99.03% 101.91% 97.42%
Effective Tax Rate		 0.00% 38.32% 9.78% 0.00% 36.43%
Return on Invested Capital (ROIC)		 0.00% 0.00% 161.27% -16,507.38% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 805.28% -16,546.06% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% -3,086.02% 17,100.32% 0.00%
Return on Equity (ROE)		 4.41% 0.00% -2,924.75% 592.94% -79.96%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -38.73% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 39.09% -49.85% 13.73%
Return on Assets (ROA)		 0.00% 0.00% 34.93% -48.40% 8.50%
Return on Common Equity (ROCE)		 -0.24% 0.00% -30,338.04% 1,468.85% -81.33%
Return on Equity Simple (ROE_SIMPLE)		 -216.55% 0.00% -140.98% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -4.46 1.44 2.69 -20 2.87
NOPAT Margin		 0.00% 2.71% 3.72% -28.69% 4.10%
Net Nonoperating Expense Percent (NNEP)		 -9,365.41% 0.00% -644.02% 38.68% -89.78%
Return On Investment Capital (ROIC_SIMPLE)		 - - 42.75% -1,309.43% 130.49%
Cost of Revenue to Revenue		 0.00% 74.28% 70.15% 76.18% 75.29%
SG&A Expenses to Revenue		 0.00% 21.33% 25.73% 64.80% 18.25%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 21.33% 25.73% 64.80% 18.25%
Earnings before Interest and Taxes (EBIT)		 9.56 2.76 19 -22 5.61
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 9.56 3.93 21 -21 6.45
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 5.60 0.55 0.37 0.22
Price to Earnings (P/E)		 30.05 205.78 2.56 0.00 6.15
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 3.33% 0.49% 39.01% 0.00% 16.25%
Enterprise Value to Invested Capital (EV/IC)		 2.29 0.00 16.67 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.77 0.41 0.21
Enterprise Value to EBITDA (EV/EBITDA)		 55.25 0.00 2.70 0.00 2.27
Enterprise Value to EBIT (EV/EBIT)		 55.25 0.00 2.89 0.00 2.61
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 20.68 0.00 5.09
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 2.16
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 3.63
Leverage & Solvency		 - - - - -
Debt to Equity		 0.00 0.00 -6.96 -1.25 -2.02
Long-Term Debt to Equity		 0.00 0.00 -1.22 -0.18 -0.31
Financial Leverage		 0.00 0.00 -3.83 -1.03 -0.15
Leverage Ratio		 1.06 0.00 -41.87 -12.25 -9.41
Compound Leverage Factor		 1.06 0.00 -41.46 -12.49 -9.16
Debt to Total Capital		 0.09% 0.00% 116.77% 508.02% 197.58%
Short-Term Debt to Total Capital		 0.09% 0.00% 96.31% 434.76% 167.46%
Long-Term Debt to Total Capital		 0.00% 0.00% 20.46% 73.26% 30.12%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 101.87% 0.00% 157.15% -20.05% 16.95%
Common Equity to Total Capital		 -1.96% 0.00% -173.91% -387.97% -114.53%
Debt to EBITDA		 0.02 0.00 0.40 -0.36 0.81
Net Debt to EBITDA		 0.02 0.00 0.22 -0.14 -0.24
Long-Term Debt to EBITDA		 0.00 0.00 0.07 -0.05 0.12
Debt to NOPAT		 -0.04 0.00 3.05 -0.38 1.82
Net Debt to NOPAT		 -0.03 0.00 1.68 -0.15 -0.54
Long-Term Debt to NOPAT		 0.00 0.00 0.53 -0.05 0.28
Altman Z-Score		 35.51 0.00 2.77 -1.18 1.17
Noncontrolling Interest Sharing Ratio		 105.49% 0.00% -937.29% -147.72% -1.71%
Liquidity Ratios		 - - - - -
Current Ratio		 0.09 0.00 0.86 0.66 0.78
Quick Ratio		 0.01 0.00 0.68 0.42 0.57
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 232 -0.65 -14 4.02
Operating Cash Flow to CapEx		 0.00% 132.93% -284.89% -79.64% 660.04%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -3.46 -32.23 27.75
Operating Cash Flow to Interest Expense		 0.00 0.00 -22.99 -2.37 46.70
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -31.06 -5.36 39.63
Efficiency Ratios		 - - - - -
Asset Turnover		 0.00 0.00 1.47 1.57 1.71
Accounts Receivable Turnover		 0.00 0.00 3.05 4.04 5.91
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 20.26 27.27 42.18
Accounts Payable Turnover		 0.00 0.00 7.69 7.24 6.05
Days Sales Outstanding (DSO)		 0.00 0.00 119.59 90.31 61.78
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 47.47 50.40 60.32
Cash Conversion Cycle (CCC)		 0.00 0.00 72.12 39.91 1.46
Capital & Investment Metrics		 - - - - -
Invested Capital		 230 0.00 3.34 -3.10 -4.25
Invested Capital Turnover		 0.00 0.00 43.39 575.39 -19.06
Increase / (Decrease) in Invested Capital		 0.00 -230 3.34 -6.44 -1.15
Enterprise Value (EV)		 528 0.00 56 29 15
Market Capitalization		 293 298 40 26 16
Book Value per Share		 ($0.16) $0.00 ($0.78) ($0.13) ($0.06)
Tangible Book Value per Share		 ($0.16) $0.00 ($0.78) ($0.13) ($0.06)
Total Capital		 230 0.00 7.04 1.50 2.65
Total Debt		 0.20 0.00 8.22 7.60 5.23
Total Long-Term Debt		 0.00 0.00 1.44 1.10 0.80
Net Debt		 0.15 0.00 4.52 3.01 -1.54
Capital Expenditures (CapEx)		 0.00 1.59 1.51 1.27 1.03
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3.50 0.00 -0.60 -7.35 -7.24
Debt-free Net Working Capital (DFNWC)		 -3.45 0.00 1.49 -4.59 -2.36
Net Working Capital (NWC)		 -3.65 0.00 -5.29 -11 -6.80
Net Nonoperating Expense (NNE)		 -14 -0.27 -15 1.46 -0.60
Net Nonoperating Obligations (NNO)		 0.15 0.00 4.52 3.01 -1.67
Total Depreciation and Amortization (D&A)		 0.00 1.17 1.35 1.38 0.84
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% -0.82% -10.47% -10.34%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 2.05% -6.54% -3.37%
Net Working Capital to Revenue		 0.00% 0.00% -7.29% -15.80% -9.71%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.68 $0.00 $0.91 ($0.46) $0.05
Adjusted Weighted Average Basic Shares Outstanding		 28.75M 0.00 15.53M 43.08M 48.33M
Adjusted Diluted Earnings per Share		 $0.68 $0.00 $0.91 ($0.46) $0.05
Adjusted Weighted Average Diluted Shares Outstanding		 28.75M 0.00 0.00 43.08M 48.33M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 28.75M 0.00 0.00 0.00 45.91M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.12 1.44 2.69 -20 2.87
Normalized NOPAT Margin		 0.00% 2.71% 3.72% -28.69% 4.10%
Pre Tax Income Margin		 0.00% 5.21% 26.38% -32.29% 7.81%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 0.00 0.00 103.28 -52.33 38.69
NOPAT to Interest Expense		 0.00 0.00 14.41 -47.39 19.81
EBIT Less CapEx to Interest Expense		 0.00 0.00 95.21 -55.32 31.61
NOPAT Less CapEx to Interest Expense		 0.00 0.00 6.34 -50.37 12.73
Payout Ratios		 - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% -3.35% 16.70%

Quarterly Metrics And Ratios for Aeries Technology

This table displays calculated financial ratios and metrics derived from Aeries Technology's official financial filings.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 12/31/2023 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 10,468,054.00 15,257,667.00 15,619,005.00 44,500,426.00 44,500,426.00 44,557,997.00 44,557,997.00 47,152,627.00 48,853,811.00 50,209,717.00
DEI Adjusted Shares Outstanding		 10,468,054.00 15,257,667.00 15,619,005.00 44,500,426.00 44,500,426.00 44,557,997.00 44,557,997.00 47,152,627.00 48,853,811.00 50,209,717.00
DEI Earnings Per Adjusted Shares Outstanding		 0.08 1.08 -0.95 -0.05 0.07 -0.13 0.03 0.01 0.02 -0.01
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 7.64% 48.90% 0.00% -4.01% -6.83% 0.00% -8.02% 2.88% -0.83% 4.27%
EBITDA Growth		 109.08% -3,926.82% 0.00% -249.75% 107.20% 0.00% 114.47% 168.72% 63.79% 118.95%
EBIT Growth		 109.08% -4,012.78% 0.00% -272.77% 104.81% 0.00% 112.88% 152.21% 111.72% 111.92%
NOPAT Growth		 59.11% 427.12% 0.00% -434.19% -2,556.76% 0.00% 105.96% 130.96% 103.43% 91.98%
Net Income Growth		 87.65% -5,074.92% 0.00% -348.76% 112.56% 0.00% 110.94% 127.84% -39.75% 98.70%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 107.41% 0.00% 107.69% 120.00% -75.00% 90.00%
Operating Cash Flow Growth		 0.00% -160.51% 0.00% 0.00% -52.57% 119.98% 179.59% -46.75% 213.96% 132.64%
Free Cash Flow Firm Growth		 -76.52% -60.43% 0.00% -105.18% -174.29% 0.00% 0.00% 159.63% 111.39% 0.00%
Invested Capital Growth		 0.00% -184.70% 0.00% 0.00% 112.52% 0.00% -163.07% -64.50% -134.81% -37.19%
Revenue Q/Q Growth		 0.00% 7.50% 0.00% 1.24% 4.35% 8.20% -19.53% 13.24% 0.58% 13.77%
EBITDA Q/Q Growth		 0.00% -1,047.21% 0.00% 84.88% 145.53% -425.48% 164.58% -28.18% 8.50% -62.33%
EBIT Q/Q Growth		 0.00% -1,068.49% 0.00% 82.96% 126.97% -615.05% 154.42% -30.93% 9.35% -71.01%
NOPAT Q/Q Growth		 0.00% -17.57% 0.00% 75.06% -506.00% 87.52% 131.58% 29.60% -32.91% -129.21%
Net Income Q/Q Growth		 0.00% -1,858.47% 0.00% 84.94% 188.81% -393.95% 127.84% -61.69% 92.21% -106.32%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 87.18% 260.00% -225.00% 130.00% -66.67% 100.00% -150.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 60.22% 211.92% -207.95% 141.58% 58.45% -25.13% 131.02% -15.12%
Free Cash Flow Firm Q/Q Growth		 0.00% 76.21% 0.00% 0.00% -2,425.97% 100.00% 0.00% -77.21% 382.52% -84.58%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -121.24% 743.96% -172.67% 36.54% 44.61% -36.27% -186.39%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 27.44% 31.99% 24.06% 21.19% 22.96% 26.73% 24.64% 28.93% 19.14% 25.96%
EBITDA Margin		 9.17% -80.80% -95.79% -14.31% 6.24% -18.78% 15.07% 9.56% 10.31% 3.41%
Operating Margin		 8.45% 3.88% -98.52% -24.27% -29.29% -16.26% 5.35% 11.44% 4.42% 4.74%
EBIT Margin		 9.17% -82.62% -98.04% -16.51% 4.27% -20.30% 13.73% 8.38% 9.11% 2.32%
Profit (Net Income) Margin		 5.27% -86.26% -91.90% -13.67% 11.63% -31.60% 10.93% 3.70% 7.07% -0.39%
Tax Burden Percent		 57.72% -103.54% 93.35% 81.43% 336.84% 149.19% 83.51% 44.71% 77.13% -18.48%
Interest Burden Percent		 99.63% -100.85% 100.42% 101.69% 80.96% 104.32% 95.34% 98.76% 100.63% 91.54%
Effective Tax Rate		 42.28% 3.54% 0.00% 0.00% -236.84% 0.00% 16.49% 55.29% 22.88% 118.48%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 534.47% 0.00% 169.83% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 577.03% 0.00% 213.61% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -766.42% 0.00% -4,515.32% 0.00%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 0.00% 592.94% -231.94% 83.37% -4,345.49% -79.96%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% -31.94% 20.87% 12.57% 13.60% 3.98%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% -49.71% 16.62% 5.55% 10.56% -0.67%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 0.00% 1,468.85% -299.14% 109.69% -15,744.54% -81.33%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 0.86 0.71 -11 -2.87 -17 -2.17 0.68 0.89 0.60 -0.17
NOPAT Margin		 4.88% 3.74% -68.96% -16.99% -98.66% -11.38% 4.47% 5.11% 3.41% -0.88%
Net Nonoperating Expense Percent (NNEP)		 0.00% -19,707.85% 174.09% -171.93% -1,347.60% 128.12% -42.56% 22.14% -43.78% -14.31%
Return On Investment Capital (ROIC_SIMPLE)		 - -1.98% -139.22% -71.72% -208.33% -141.00% 34.24% 38.06% 21.80% -7.90%
Cost of Revenue to Revenue		 72.56% 68.01% 75.94% 78.81% 77.04% 73.27% 75.36% 71.07% 80.86% 74.04%
SG&A Expenses to Revenue		 18.99% 28.12% 122.58% 45.46% 52.25% 43.00% 19.30% 17.50% 14.72% 21.22%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 18.99% 28.12% 122.58% 45.46% 52.25% 43.00% 19.30% 17.50% 14.72% 21.22%
Earnings before Interest and Taxes (EBIT)		 1.61 -16 -16 -2.79 0.75 -3.87 2.11 1.45 1.59 0.46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1.61 -15 -16 -2.41 1.10 -3.58 2.31 1.66 1.80 0.68
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 59.81 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 59.81 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.37 0.79 0.46 0.36 0.22
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.15
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16.25%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 10.54 0.00 10.55 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.41 0.82 0.49 0.36 0.21
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 22.72 11.41 2.27
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 76.64 19.53 2.61
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.00 5.09
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 27.25 28.71 4.45 2.16
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.63
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 -0.22 8.76 -4.56 11.71 -1.25 -1.47 -2.00 -4.92 -2.02
Long-Term Debt to Equity		 0.00 -0.03 1.82 -1.15 2.24 -0.18 -0.25 -0.35 -1.06 -0.31
Financial Leverage		 0.00 -0.03 2.38 -0.50 -0.09 -0.49 -1.33 -0.56 -21.14 -0.15
Leverage Ratio		 0.00 15.30 56.21 -39.54 -2.98 -12.25 -25.83 -23.30 -671.46 -9.41
Compound Leverage Factor		 0.00 -15.43 56.44 -40.21 -2.41 -12.78 -24.63 -23.01 -675.69 -8.61
Debt to Total Capital		 0.00% -28.44% 89.76% 128.06% 92.14% 508.02% 314.95% 199.92% 125.50% 197.58%
Short-Term Debt to Total Capital		 0.00% -24.04% 71.13% 95.73% 74.53% 434.76% 262.04% 164.68% 98.53% 167.46%
Long-Term Debt to Total Capital		 0.00% -4.40% 18.63% 32.34% 17.60% 73.26% 52.91% 35.24% 26.97% 30.12%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% -37.55% 12.81% 21.40% -0.39% -20.05% -6.60% 9.45% 12.64% 16.95%
Common Equity to Total Capital		 0.00% 165.98% -2.57% -49.47% 8.26% -387.97% -208.35% -109.38% -38.13% -114.53%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.36 -2.51 3.56 1.79 0.81
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.14 -0.95 1.05 -0.26 -0.24
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.05 -0.42 0.63 0.38 0.12
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.38 -0.80 0.01 -3.35 1.82
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.15 -0.31 0.00 0.48 -0.54
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.05 -0.14 0.00 -0.72 0.28
Altman Z-Score		 0.00 0.00 0.00 0.00 0.00 0.34 1.30 1.00 0.97 0.76
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -147.72% -28.97% -31.58% -262.32% -1.71%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.00 0.47 0.87 0.75 0.70 0.66 0.65 0.71 0.75 0.78
Quick Ratio		 0.00 0.36 0.69 0.56 0.47 0.42 0.38 0.45 0.45 0.57
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 43 75 0.00 -2.20 -56 0.00 5.77 1.31 6.34 0.98
Operating Cash Flow to CapEx		 0.00% -415.24% -467.39% 317.13% -683.55% 0.00% 528.57% 355.90% 1,011.97% 820.41%
Free Cash Flow to Firm to Interest Expense		 7,089.97 2,342.54 0.00 -46.90 -389.41 0.00 58.85 73.02 0.00 25.08
Operating Cash Flow to Interest Expense		 0.00 -42.56 -25.29 40.96 -14.53 5.17 13.97 56.94 0.00 51.54
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -52.81 -30.71 28.04 -16.66 5.25 11.33 40.94 0.00 45.26
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 1.57 1.52 1.50 1.49 1.71
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 4.04 4.31 4.66 5.64 5.91
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 27.27 26.39 25.42 25.73 42.18
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 7.24 7.33 6.98 7.29 6.05
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 90.31 84.68 78.33 64.66 61.78
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 50.40 49.80 52.32 50.08 60.32
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 39.91 34.89 26.01 14.58 1.46
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 -34 3.12 -0.66 4.26 -3.10 -1.97 -1.09 -1.48 -4.25
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 -22.66 119.65 -79.21 49.80 -19.06
Increase / (Decrease) in Invested Capital		 -42 -74 0.00 -0.66 38 0.00 -5.08 -0.43 -5.75 -1.15
Enterprise Value (EV)		 0.00 47 33 104 45 29 57 34 25 15
Market Capitalization		 111 38 30 102 41 26 54 32 25 16
Book Value per Share		 $0.00 ($2.82) ($0.01) ($0.05) $0.02 ($0.13) ($0.10) ($0.06) ($0.02) ($0.06)
Tangible Book Value per Share		 $0.00 ($2.82) ($0.01) ($0.05) $0.02 ($0.13) ($0.10) ($0.06) ($0.02) ($0.06)
Total Capital		 0.00 -26 8.99 4.68 8.38 1.50 2.06 2.66 3.13 2.65
Total Debt		 0.00 7.38 8.07 6.00 7.72 7.60 6.49 5.31 3.92 5.23
Total Long-Term Debt		 0.00 1.14 1.68 1.51 1.48 1.10 1.09 0.94 0.84 0.80
Net Debt		 0.00 -0.72 2.20 0.65 3.60 3.01 2.46 1.57 -0.56 -1.54
Capital Expenditures (CapEx)		 0.00 0.33 0.37 0.61 0.30 -0.01 0.26 0.29 0.23 0.25
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -36 -2.83 -8.92 -6.56 -7.35 -7.36 -5.94 -6.61 -7.24
Debt-free Net Working Capital (DFNWC)		 0.00 -30 1.37 -5.29 -4.17 -4.59 -5.22 -4.08 -4.04 -2.36
Net Working Capital (NWC)		 0.00 -36 -5.03 -9.78 -10 -11 -11 -8.45 -7.12 -6.80
Net Nonoperating Expense (NNE)		 -0.07 17 3.82 -0.56 -19 3.85 -0.99 0.25 -0.64 -0.10
Net Nonoperating Obligations (NNO)		 0.00 -0.72 2.20 0.65 3.60 3.01 2.46 1.57 -0.69 -1.67
Total Depreciation and Amortization (D&A)		 0.00 0.34 0.37 0.37 0.35 0.29 0.21 0.21 0.21 0.22
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% -10.47% -10.69% -8.57% -9.56% -10.34%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% -6.54% -7.58% -5.88% -5.84% -3.37%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% -15.80% -15.42% -12.19% -10.29% -9.71%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1.08) $0.00 ($0.05) $0.08 ($0.10) $0.03 $0.01 $0.02 ($0.01)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 15.62M 37.85M 44.36M 44.52M 43.08M 47.15M 47.31M 48.76M 48.33M
Adjusted Diluted Earnings per Share		 $0.00 ($1.08) ($0.39) ($0.05) $0.08 ($0.10) $0.03 $0.01 $0.02 ($0.01)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 15.62M 37.85M 44.36M 44.52M 43.08M 47.15M 47.31M 48.76M 48.33M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 15.39M 0.00 44.50M 44.56M 0.00 47.15M 48.85M 50.21M 45.91M
Normalized Net Operating Profit after Tax (NOPAT)		 0.86 0.71 -11 -2.87 -3.61 -2.17 0.68 1.39 0.60 0.66
Normalized NOPAT Margin		 4.88% 3.74% -68.96% -16.99% -20.50% -11.38% 4.47% 8.00% 3.41% 3.32%
Pre Tax Income Margin		 9.14% 83.31% -98.45% -16.78% 3.45% -21.18% 13.09% 8.27% 9.16% 2.12%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 268.67 -487.88 -240.29 -59.26 5.25 -23.16 21.48 80.78 0.00 11.82
NOPAT to Interest Expense		 142.96 22.10 -169.03 -60.99 -121.48 -12.99 6.99 49.30 0.00 -4.46
EBIT Less CapEx to Interest Expense		 0.00 -498.13 -245.71 -72.17 3.13 -23.09 18.84 64.78 0.00 5.54
NOPAT Less CapEx to Interest Expense		 0.00 11.85 -174.44 -73.90 -123.60 -12.91 4.34 33.30 0.00 -10.74
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -3.35% 0.00% 0.00% 0.00% 16.70%

Financials Breakdown Chart

Key Financial Trends

Aeries Technology (NASDAQ:AERT) showed a meaningful operational improvement in the latest quarter, but the broader trend over the last several years remains uneven. Revenue has generally grown from the 2024 to 2026 periods, and the company generated positive operating cash flow in recent quarters. However, profitability has been volatile, and the balance sheet still carries a large liability load relative to equity.

  • Revenue has trended higher year over year. Quarterly revenue rose from $16.7 million in Q1 2025 to $19.9 million in Q4 2026, suggesting continued top-line growth.
  • Gross profit improved in the latest quarter. Q4 2026 gross profit was $5.2 million, up from $3.3 million in Q3 2026 and $4.0 million in Q1 2025.
  • Operating cash flow was solid in the most recent quarter. AERT generated $2.0 million in operating cash flow in Q4 2026 and $2.4 million in Q3 2026.
  • Liquidity improved in late 2025 and early 2026. Cash and equivalents rose to $2.57 million in Q3 2026 from $1.87 million in Q2 2026 and $2.14 million in Q1 2026.
  • Net income turned positive in several recent quarters. The company reported net income of $1.24 million in Q3 2026 and $1.68 million in Q1 2026, after losses in some prior periods.
  • Shares outstanding have moved around but not exploded recently. Weighted average basic shares were about 47.1 million in Q1 2026 and 48.7 million in Q3 2026, indicating modest dilution pressure in recent quarters.
  • Capital spending remains relatively contained. Quarterly capex has generally stayed in the low hundreds of thousands of dollars, which helps preserve cash.
  • Profitability remains inconsistent. AERT swung from a Q4 2025 loss of $6.0 million to a Q1 2026 profit, then back to a Q4 2026 loss of $83,000, showing that earnings stability is still lacking.
  • SG&A expense has been volatile and at times very high. Q1 2025 SG&A was $20.4 million versus $4.2 million in Q4 2026, highlighting large swings in overhead.
  • The balance sheet is heavily leveraged to liabilities. As of Q3 2026, total liabilities were $42.8 million versus total equity of negative $1.2 million.
  • Equity remains negative in the most recent balance sheet. Negative shareholders’ equity suggests financial flexibility is still limited.
  • Other income and non-operating items have been unusually large and erratic. That makes earnings less predictable and can obscure underlying business performance.

Bottom line: Aeries Technology has made progress on revenue growth and operating cash generation, but the stock still carries meaningful risk because profitability is unstable and the balance sheet remains weak. Investors will want to see sustained operating income, steadier margins, and continued debt reduction before assuming the recent improvement is durable.

07/20/26 02:42 PM ETAI Generated. May Contain Errors.

Aeries Technology Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Aeries Technology's fiscal year ends in March. Their fiscal year 2026 ended on March 31, 2026.

Aeries Technology's net income appears to be on a downward trend, with a most recent value of $3.47 million in 2026, falling from $9.76 million in 2022. The previous period was -$21.60 million in 2025.

Aeries Technology's total operating income in 2026 was $4.52 million, based on the following breakdown:
  • Total Gross Profit: $17.30 million
  • Total Operating Expenses: $12.78 million

Over the last 4 years, Aeries Technology's total revenue changed from $0.00 in 2022 to $70.01 million in 2026, a change of 7,001,400,000.0%.

Aeries Technology's total liabilities were at $44.48 million at the end of 2026, a 3.2% decrease from 2025, and a 111.6% increase since 2021.

In the past 4 years, Aeries Technology's cash and equivalents has ranged from $48.13 thousand in 2022 to $4.88 million in 2026, and is currently $4.88 million as of their latest financial filing in 2026.

Over the last 4 years, Aeries Technology's book value per share changed from -0.16 in 2022 to -0.06 in 2026, a change of -61.5%.


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Financial statements for NASDAQ:AERTW last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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