AQMS

Company Overview — What Does Aqua Metals, Inc. Do?

Aqua Metals, Inc. engages in the recycling of lead primarily in the United States. It produces and sells hard lead, lead compounds, and plastics. Aqua Metals, Inc. was incorporated in 2014 and is headquartered in Reno, Nevada. Aqua Metals, Inc. (AQMS) is classified as a micro-cap stock in the Materials sector, specifically within the Steel Works industry. The company is led by CEO Stephen D. Cotton and employs approximately 20 people, headquartered in Oakland, Nevada. With a market capitalization of $12M, AQMS is one of the notable companies in the Materials sector.

Aqua Metals, Inc. (AQMS) Stock Rating — Avoid (April 2026)

As of April 2026, Aqua Metals, Inc. receives a Avoid rating with a composite score of 23.6/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.AQMS ranks #4,213 out of 4,446 stocks in our coverage universe. Within the Materials sector, Aqua Metals, Inc. ranks #286 of 284 stocks, placing it in the lower half of its Materials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

AQMS Stock Price and 52-Week Range

Aqua Metals, Inc. (AQMS) currently trades at $3.92. The stock lost $0.03 (0.8%) in the most recent trading session. The 52-week high for AQMS is $39.40, which means the stock is currently trading -90.1% from its annual peak. The 52-week low is $0.34, putting the stock 1052.3% above its annual trough. Recent trading volume was 20K shares, suggesting relatively thin trading activity.

Is AQMS Overvalued or Undervalued? — Valuation Analysis

Aqua Metals, Inc. (AQMS) carries a value factor score of 9/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 0.86x, versus the sector average of 2.83x.

At current multiples, Aqua Metals, Inc. trades at a premium to most Materials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Aqua Metals, Inc. Profitability — ROE, Margins, and Quality Score

Aqua Metals, Inc. (AQMS) earns a quality factor score of 18/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -158.5%, compared to the Materials sector average of 3.3%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -118.8% versus the sector average of 0.6%.

Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

AQMS Debt, Balance Sheet, and Financial Health

Aqua Metals, Inc. has a debt-to-equity ratio of 33.0%, compared to the Materials sector average of 41.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 3.03x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $4M.

AQMS has a beta of 5.01, meaning it is more volatile than the broader market — a $10,000 investment in AQMS would be expected to move 400.7% more than the S&P 500 on any given day. The stability factor score for Aqua Metals, Inc. is 7/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Aqua Metals, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Aqua Metals, Inc. reported revenue of $0 and earnings per share (EPS) of $-15.15. Net income for the quarter was $-23M. Operating income came in at $-24M.

In FY 2025, Aqua Metals, Inc. reported revenue of $0 and earnings per share (EPS) of $-15.15. Net income for the quarter was $-23M. Operating income came in at $-23M.

In Q3 2025, Aqua Metals, Inc. reported revenue of $0 and earnings per share (EPS) of $-2.19. Net income for the quarter was $-3M. Operating income came in at $-3M.

In Q2 2025, Aqua Metals, Inc. reported revenue of $0 and earnings per share (EPS) of $-7.44. Net income for the quarter was $-7M. Operating income came in at $-7M.

Over the past 8 quarters, Aqua Metals, Inc. has experienced revenue contraction from $0 to $0. Investors analyzing AQMS stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

AQMS Dividend Yield and Income Analysis

Aqua Metals, Inc. (AQMS) does not currently pay a dividend. This is common among smaller companies in the Steel Works industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Materials dividend stocks may want to explore other Materials stocks or use the stock screener to filter by dividend yield.

AQMS Momentum and Technical Analysis Profile

Aqua Metals, Inc. (AQMS) has a momentum factor score of 47/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 20/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.

AQMS vs Competitors — Materials Sector Ranking and Peer Comparison

Within the Materials sector, Aqua Metals, Inc. (AQMS) ranks #286 out of 284 stocks based on the Blank Capital composite score. This places AQMS in the lower half of all Materials stocks in our coverage universe. Key competitors and sector peers include CF Industries Holdings, Inc. (CF) with a score of 56.6/100, Nutrien Ltd. (NTR) with a score of 56.6/100, CVR PARTNERS, LP (UAN) with a score of 55.6/100, LSB INDUSTRIES, INC. (LXU) with a score of 53.6/100, and ACME UNITED CORP (ACU) with a score of 51.2/100.

Comparing AQMS against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full AQMS vs S&P 500 (SPY) comparison to assess how Aqua Metals, Inc. stacks up against the broader market across all factor dimensions.

AQMS Next Earnings Date

No upcoming earnings date has been announced for Aqua Metals, Inc. (AQMS) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy AQMS? — Investment Thesis Summary

The quantitative profile for Aqua Metals, Inc. suggests caution. The quality score of 18/100 flags below-average profitability. The value score of 9/100 indicates premium valuation. High volatility (stability score 7/100) increases portfolio risk.

In summary, Aqua Metals, Inc. (AQMS) earns a Avoid rating with a composite score of 23.6/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on AQMS stock.

Related Resources for AQMS Investors

Explore more research and tools: AQMS vs S&P 500 comparison, top Materials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare AQMS head-to-head with peers: AQMS vs CF, AQMS vs NTR, AQMS vs UAN.