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Aquestive Therapeutics

Nasdaq:AQST
Snowflake Description

High growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AQST
Nasdaq
$69M
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Aquestive Therapeutics, Inc., a specialty pharmaceutical company, focuses on identifying, developing, and commercializing various products to address unmet medical needs. The last earnings update was 28 days ago. More info.


Add to Portfolio Compare Print
  • Aquestive Therapeutics has significant price volatility in the past 3 months.
AQST Share Price and Events
7 Day Returns
5.6%
NasdaqGM:AQST
4.6%
US Pharmaceuticals
2.4%
US Market
1 Year Returns
-67.2%
NasdaqGM:AQST
-2%
US Pharmaceuticals
-10%
US Market
AQST Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aquestive Therapeutics (AQST) 5.6% -35.4% -67.8% -67.2% - -
US Pharmaceuticals 4.6% -3.1% -7.9% -2% 10% 5.4%
US Market 2.4% -11% -19.4% -10% 9.6% 21.1%
1 Year Return vs Industry and Market
  • AQST underperformed the Pharmaceuticals industry which returned -2% over the past year.
  • AQST underperformed the Market in United States of America which returned -10% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

AQST Value

 Is Aquestive Therapeutics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Aquestive Therapeutics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Aquestive Therapeutics.

NasdaqGM:AQST Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:AQST
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.63
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.629 (1 + (1- 21%) (87.22%))
1.041
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.041 * 5.44%)
7.41%

Discounted Cash Flow Calculation for NasdaqGM:AQST using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aquestive Therapeutics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGM:AQST DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.41%)
2020 -51.40 Analyst x1 -47.86
2021 -5.30 Analyst x1 -4.59
2022 40.10 Analyst x1 32.36
2023 73.90 Analyst x1 55.53
2024 120.10 Analyst x1 84.02
2025 157.49 Est @ 31.13% 102.58
2026 192.63 Est @ 22.31% 116.82
2027 223.72 Est @ 16.14% 126.32
2028 250.16 Est @ 11.82% 131.51
2029 272.17 Est @ 8.8% 133.22
Present value of next 10 years cash flows $729.00
NasdaqGM:AQST DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $272.17 × (1 + 1.74%) ÷ (7.41% – 1.74%)
$4,887.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,887.34 ÷ (1 + 7.41%)10
$2,392.20
NasdaqGM:AQST Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $729.00 + $2,392.20
$3,121.20
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,121.20 / 33.58
$92.94
NasdaqGM:AQST Discount to Share Price
Calculation Result
Value per share (USD) From above. $92.94
Current discount Discount to share price of $2.06
= -1 x ($2.06 - $92.94) / $92.94
97.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Aquestive Therapeutics is available for.
Intrinsic value
>50%
Share price is $2.06 vs Future cash flow value of $92.94
Current Discount Checks
For Aquestive Therapeutics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Aquestive Therapeutics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Aquestive Therapeutics's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Aquestive Therapeutics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aquestive Therapeutics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:AQST PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-2.61
NasdaqGM:AQST Share Price ** NasdaqGM (2020-04-07) in USD $2.06
United States of America Pharmaceuticals Industry PE Ratio Median Figure of 24 Publicly-Listed Pharmaceuticals Companies 20.33x
United States of America Market PE Ratio Median Figure of 2,948 Publicly-Listed Companies 12.95x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Aquestive Therapeutics.

NasdaqGM:AQST PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:AQST Share Price ÷ EPS (both in USD)

= 2.06 ÷ -2.61

-0.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aquestive Therapeutics is loss making, we can't compare its value to the US Pharmaceuticals industry average.
  • Aquestive Therapeutics is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Aquestive Therapeutics's expected growth come at a high price?
Raw Data
NasdaqGM:AQST PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
58%per year
United States of America Pharmaceuticals Industry PEG Ratio Median Figure of 21 Publicly-Listed Pharmaceuticals Companies 1.91x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.92x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Aquestive Therapeutics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Aquestive Therapeutics's assets?
Raw Data
NasdaqGM:AQST PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $-0.18
NasdaqGM:AQST Share Price * NasdaqGM (2020-04-07) in USD $2.06
United States of America Pharmaceuticals Industry PB Ratio Median Figure of 181 Publicly-Listed Pharmaceuticals Companies 2.42x
United States of America Market PB Ratio Median Figure of 5,162 Publicly-Listed Companies 1.26x
NasdaqGM:AQST PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:AQST Share Price ÷ Book Value per Share (both in USD)

= 2.06 ÷ -0.18

-11.29x

* Primary Listing of Aquestive Therapeutics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aquestive Therapeutics has negative assets, we can't compare the value of its assets to the US Pharmaceuticals industry average.
X
Value checks
We assess Aquestive Therapeutics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Pharmaceuticals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Aquestive Therapeutics has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AQST Future Performance

 How is Aquestive Therapeutics expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
58%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aquestive Therapeutics expected to grow at an attractive rate?
  • Aquestive Therapeutics's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Aquestive Therapeutics's earnings growth is expected to exceed the United States of America market average.
  • Aquestive Therapeutics's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:AQST Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:AQST Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 58%
NasdaqGM:AQST Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 35.5%
United States of America Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 27.3%
United States of America Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:AQST Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:AQST Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 333 125 133 2
2023-12-31 254 74 82 2
2022-12-31 151 37 40 3
2021-12-31 78 -10 -37 6
2020-12-31 41 -58 -62 6
2020-04-08
NasdaqGM:AQST Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 53 -60 -66
2019-09-30 53 -52 -68
2019-06-30 54 -49 -64
2019-03-31 57 -31 -80
2018-12-31 67 -13 -61
2018-09-30 63 -18 -61
2018-06-30 77 10 -38
2018-03-31 74 3 -8
2017-12-31 67 6 -14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aquestive Therapeutics's earnings are expected to grow significantly at over 20% yearly.
  • Aquestive Therapeutics's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:AQST Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Aquestive Therapeutics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:AQST Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 3.73 3.88 3.57 2.00
2023-12-31 2.33 2.52 2.13 2.00
2022-12-31 1.14 1.21 1.07 2.00
2021-12-31 -1.27 -0.29 -2.24 5.00
2020-12-31 -1.79 -1.42 -2.03 5.00
2020-04-08
NasdaqGM:AQST Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -2.61
2019-09-30 -2.71
2019-06-30 -2.60
2019-03-31 -3.46
2018-12-31 -2.96
2018-09-30 -2.43
2018-06-30 -1.89
2018-03-31 -0.06
2017-12-31 -0.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Aquestive Therapeutics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Aquestive Therapeutics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Aquestive Therapeutics has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AQST Past Performance

  How has Aquestive Therapeutics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Aquestive Therapeutics's growth in the last year to its industry (Pharmaceuticals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Aquestive Therapeutics does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Aquestive Therapeutics's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Aquestive Therapeutics's 1-year growth to the US Pharmaceuticals industry average as it is not currently profitable.
Earnings and Revenue History
Aquestive Therapeutics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Aquestive Therapeutics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:AQST Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 52.61 -66.25 64.34 20.57
2019-09-30 53.01 -67.55 66.57 23.20
2019-06-30 53.86 -64.18 65.21 22.67
2019-03-31 56.66 -80.20 82.60 22.51
2018-12-31 67.43 -61.38 72.27 23.11
2018-09-30 62.80 -60.58 61.12 23.70
2018-06-30 76.68 -37.72 54.94 24.85
2018-03-31 73.89 -7.73 26.52 21.69
2017-12-31 66.92 -13.90 25.08 22.13
2016-12-31 51.79 -11.94 20.80 15.45

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Aquestive Therapeutics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • It is difficult to establish if Aquestive Therapeutics has efficiently used its assets last year compared to the US Pharmaceuticals industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Aquestive Therapeutics improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Aquestive Therapeutics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Pharmaceuticals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Aquestive Therapeutics has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AQST Health

 How is Aquestive Therapeutics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Aquestive Therapeutics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aquestive Therapeutics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Aquestive Therapeutics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Aquestive Therapeutics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Aquestive Therapeutics has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Aquestive Therapeutics Company Filings, last reported 3 months ago.

NasdaqGM:AQST Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 -6.12 60.34 49.33
2019-09-30 -34.46 59.78 20.91
2019-06-30 -24.66 47.43 22.17
2019-03-31 -6.06 47.59 39.93
2018-12-31 10.08 47.20 60.60
2018-09-30 23.44 46.80 63.98
2018-06-30 -38.95 46.43 10.64
2018-03-31 -22.40 45.97 16.49
2017-12-31 -26.50 45.51 17.38
2016-12-31 -17.58 38.65 9.21
  • Aquestive Therapeutics has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Aquestive Therapeutics's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Aquestive Therapeutics has less than a year of cash runway based on current free cash flow.
  • Aquestive Therapeutics has less than a year of cash runway if free cash flow continues to grow at historical rates of 88.9% each year.
X
Financial health checks
We assess Aquestive Therapeutics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Aquestive Therapeutics has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AQST Dividends

 What is Aquestive Therapeutics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Aquestive Therapeutics dividends.
If you bought $2,000 of Aquestive Therapeutics shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Aquestive Therapeutics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Aquestive Therapeutics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:AQST Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1935 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:AQST Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-04-08

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Aquestive Therapeutics has not reported any payouts.
  • Unable to verify if Aquestive Therapeutics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Aquestive Therapeutics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Aquestive Therapeutics has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Aquestive Therapeutics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Aquestive Therapeutics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aquestive Therapeutics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AQST Management

 What is the CEO of Aquestive Therapeutics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Keith Kendall
COMPENSATION $8,010,587
AGE 61
TENURE AS CEO 5.4 years
CEO Bio

Mr. Keith J. Kendall has been the Chief Executive Officer of MonoSol RX, Inc since December 17, 2014 and also serves as its President, Principal Accounting Officer, Secretary and Treasurer. Mr. Kendall served as Chief Operating Officer of MonoSol RX, Inc June 23, 2011 and its and Chief Financial Officer from July 2006 to December 1, 2015. Mr. Kendall served as an Executive Vice President of MonoSol RX, LLC, and also served as its Senior Vice President since July 2006. He has over 20 years of financial and business leadership experience. Mr. Kendall served as the Vice President and Managing Director for the Americas of Hewlett Packard Financial Services from 1999 to 2006. He served as a part of AT&T Capital Corp. from its inception in 1985 until its ultimate sale in 1998. Mr. Kendall served as the President of both AT&T Credit Corporation as well as NCR Credit Corporation from 1985 to 1998. Mr. Kendall serves as President and Chief Executive Officer since November 2014 at Aquestive Therapeutics, Inc., and served as its President and Chief Operating Officer since November 2011 and serves as its Director since November 2014. Mr. Kendall also served as the Executive Vice President and Chief Financial Officer since 2006 at Aquestive Therapeutics, Inc.Mr. Kendall served as a Director at Midatech, Pharma Plc since January 2010 to December 2014. Mr. Kendall holds a BS from St. John’s University and an MBA from Pace University.

CEO Compensation
  • Keith's compensation has increased whilst company is loss making.
  • Keith's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Aquestive Therapeutics management team in years:

4.3
Average Tenure
58
Average Age
  • The tenure for the Aquestive Therapeutics management team is about average.
Management Team

Keith Kendall

TITLE
CEO, President & Director
COMPENSATION
$8M
AGE
61
TENURE
5.4 yrs

John Maxwell

TITLE
Senior VP & CFO
COMPENSATION
$2M
AGE
54
TENURE
3.3 yrs

Dan Barber

TITLE
Senior VP & COO
COMPENSATION
$2M
AGE
43
TENURE
0.9 yrs

Alexander Schobel

TITLE
Chief Innovation & Technology Officer
COMPENSATION
$8M
AGE
60
TENURE
5.3 yrs

Lori Braender

TITLE
Senior VP
AGE
63
TENURE
1.6 yrs

Lauren Walrath

TITLE
Head of Corporate Marketing & Communications

Theresa Wood

TITLE
Senior Vice President of Human Resources
AGE
56
TENURE
13.6 yrs

Eric Dadey

TITLE
Senior Vice-President of Research and Development
TENURE
9.8 yrs

Peter Boyd

TITLE
Senior Vice President of Business Process & Information Technology
AGE
53

Ken Marshall

TITLE
Senior VP & Chief Commercial Officer
AGE
60
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the Aquestive Therapeutics board of directors in years:

5.4
Average Tenure
61
Average Age
  • The tenure for the Aquestive Therapeutics board of directors is about average.
Board of Directors

Sandy Costa

TITLE
Chairman
COMPENSATION
$389K
AGE
73
TENURE
1.7 yrs

Keith Kendall

TITLE
CEO, President & Director
COMPENSATION
$8M
AGE
61
TENURE
5.4 yrs

Doug Bratton

TITLE
Independent Director
COMPENSATION
$451K
AGE
60
TENURE
16.3 yrs

Jim Scibetta

TITLE
Independent Director
COMPENSATION
$356K
AGE
54
TENURE
3 yrs

John Cochran

TITLE
Independent Director
COMPENSATION
$446K
AGE
54
TENURE
16.3 yrs

Greg Brown

TITLE
Independent Director
COMPENSATION
$448K
AGE
65
TENURE
13.1 yrs

Nancy Lurker

TITLE
Independent Director
COMPENSATION
$313K
AGE
62
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Aquestive Therapeutics individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
18. Mar 20 Buy Lori Braender Individual 16. Mar 20 16. Mar 20 14,000 $1.54 $21,624
18. Mar 20 Buy Peter Boyd Individual 16. Mar 20 16. Mar 20 2,000 $1.50 $3,000
28. Aug 19 Buy Daniel Barber Individual 27. Aug 19 27. Aug 19 2,000 $3.99 $7,980
22. Aug 19 Buy James Scibetta Individual 19. Aug 19 21. Aug 19 22,971 $3.81 $86,977
20. Aug 19 Buy Keith Kendall Individual 09. Aug 19 14. Aug 19 8,000 $4.05 $30,987
13. Aug 19 Buy Theresa Wood Individual 09. Aug 19 09. Aug 19 1,000 $3.99 $3,990
13. Aug 19 Buy Lori Braender Individual 09. Aug 19 09. Aug 19 10,000 $4.07 $40,747
13. Aug 19 Buy Peter Boyd Individual 12. Aug 19 12. Aug 19 600 $3.81 $2,286
X
Management checks
We assess Aquestive Therapeutics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Aquestive Therapeutics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AQST News

Simply Wall St News

Trade Alert: The Director Of Aquestive Therapeutics, Inc. (NASDAQ:AQST), James Scibetta, Has Just Spent US$87k Buying Shares

See our latest analysis for Aquestive Therapeutics Aquestive Therapeutics Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider purchase was by Senior VP & CFO John Maxwell for US$98k worth of shares, at about US$9.80 per share. … NasdaqGM:AQST Recent Insider Trading, August 26th 2019 Does Aquestive Therapeutics Boast High Insider Ownership? … When combined with notable insider ownership, these factors suggest Aquestive Therapeutics insiders are well aligned, and that they may think the share price is too low.

Simply Wall St -

Aquestive Therapeutics, Inc. (NASDAQ:AQST): Is Breakeven Near?

Many investors are wondering the rate at which AQST will turn a profit, with the big question being “when will the company breakeven?” In this article, I will touch on the expectations for AQST’s growth and when analysts expect the company to become profitable. … If this rate turns out to be too aggressive, AQST may become profitable much later than analysts predict. … For a more comprehensive look at AQST, take a look at AQST’s company page on Simply Wall St.

Simply Wall St -

We Think Aquestive Therapeutics (NASDAQ:AQST) Has Us A Very Heavy Debt Load

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. … NasdaqGM:AQST Historical Debt, July 4th 2019 How Strong Is Aquestive Therapeutics's Balance Sheet? … Since Aquestive Therapeutics does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time.

Simply Wall St -

When Will Aquestive Therapeutics, Inc. (NASDAQ:AQST) Breakeven?

Aquestive Therapeutics, Inc.'s (NASDAQ:AQST):. … Aquestive Therapeutics, Inc., a specialty pharmaceutical company, focuses on identifying, developing, and commercializing various products to address unmet medical needs. … I’ve put together a brief outline of industry analyst expectations for AQST, its year of breakeven and its implied growth rate

Simply Wall St -

Have Insiders Been Buying Aquestive Therapeutics, Inc. (NASDAQ:AQST) Shares This Year?

So we'll take a look at whether insiders have been buying or selling shares in Aquestive Therapeutics, Inc. … Aquestive Therapeutics Insider Transactions Over The Last Year. … In total, Aquestive Therapeutics insiders bought more than they sold over the last year

Simply Wall St -

Read This Before Selling Aquestive Therapeutics, Inc. (NASDAQ:AQST) Shares

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. … The Last 12 Months Of Insider Transactions At Aquestive Therapeutics.

Simply Wall St -

What Do Aquestive Therapeutics Inc (NASDAQ:AQST) Insiders Know That You Don't?

small-cap stocks … It is widely considered that insider buying stock in their own companies is potentially a bullish signal … The MIT Press (1998) published an article showing that stocks following insider buying outperformed the market by 4.5%

Simply Wall St -

AQST Company Info

Description

Aquestive Therapeutics, Inc., a specialty pharmaceutical company, focuses on identifying, developing, and commercializing various products to address unmet medical needs. The company markets Sympazan, an oral soluble film formulation of clobazam for the treatment of lennox-gastaut syndrome; Suboxone, a sublingual film formulation of buprenorphine and naloxone for the treatment of opioid dependence; and Zuplenz, an oral soluble film formulation of ondansetron for the treatment of nausea and vomiting associated with chemotherapy and post-operative recovery in the United States and internationally. Its proprietary product candidates comprise Libervant, a buccal soluble film formulation of diazepam for the treatment of recurrent epileptic seizures; and Exservan, an oral soluble film formulation of riluzole for the treatment of Amyotrophic Lateral Sclerosis. The company's proprietary pipeline of complex molecule products include AQST-108, a sublingual film formulation of epinephrine for the treatment of anaphylaxis; and AQST-305, a sublingual film formulation of octreotide for the treatment of acromegaly and neuroendocrine tumors. It also develops AQST-119, an oral soluble film formulation of tadalafil for the treatment of erectile dysfunction; and APL-130277, a sublingual film using apomorphine to treat parkinson’s disease. Aquestive Therapeutics, Inc. was founded in 2004 and is headquartered in Warren, New Jersey.

Details
Name: Aquestive Therapeutics, Inc.
AQST
Exchange: NasdaqGM
Founded: 2004
$69,179,402
33,582,234
Website: http://www.aquestive.com
Address: Aquestive Therapeutics, Inc.
30 Technology Drive,
Warren,
New Jersey, 07059,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM AQST Common Stock Nasdaq Global Market US USD 25. Jul 2018
Number of employees
Current staff
Staff numbers
232
Aquestive Therapeutics employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 04:58
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/03/11
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.