Aeries Technology Financials
This page shows Aeries Technology (AERT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A step-up in overhead and weaker gross margin overwhelmed steady sales, turning the model into a deep operating-loss business.
FY2025's cash burn improved even as the company moved from profit to loss, with operating cash outflow narrowing to-$1.0M from-$4.3M . Receivables fell from$23.8M to$11.0M , suggesting cash was helped by collecting earlier sales rather than by a healthier cost structure, and free cash flow still remained negative, so the year looked less severe in cash than in accounting earnings.
The operating break came from cost structure, not a demand cliff: revenue slipped only modestly to
The balance sheet strain sits in short-term obligations: current liabilities of
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Aeries Technology's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Aeries Technology has an operating margin of 6.5%, meaning the company retains $6 of operating profit per $100 of revenue. This below-average margin results in a low score of 4/100, suggesting thin profitability after operating expenses. This is up from -41.0% the prior year.
Aeries Technology's revenue declined 0.3% year-over-year, from $70.2M to $70.0M. This contraction results in a growth score of 30/100.
Aeries Technology carries a low D/E ratio of -0.26, meaning only $-0.26 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Aeries Technology's current ratio of 0.78 is below the typical benchmark, resulting in a score of 10/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Aeries Technology's free cash flow margin of 8.1% results in a low score of 28/100. Capital expenditures of $1.1M absorb a large share of operating cash flow.
Aeries Technology scores 1.44, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Aeries Technology passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Aeries Technology generates $2.39 in operating cash flow ($6.8M OCF vs $2.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Aeries Technology earns $9.8 in operating income for every $1 of interest expense ($4.5M vs $463K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Aeries Technology generated $70.0M in revenue in fiscal year 2026. This represents a decrease of 0.3% from the prior year.
Aeries Technology's EBITDA was $5.4M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 119.6% from the prior year.
Aeries Technology reported $2.8M in net income in fiscal year 2026. This represents an increase of 113.1% from the prior year.
Aeries Technology earned $0.05 per diluted share (EPS) in fiscal year 2026. This represents an increase of 110.9% from the prior year.
Cash & Balance Sheet
Aeries Technology generated $5.7M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 327.0% from the prior year.
Aeries Technology held $4.9M in cash against $798K in long-term debt as of fiscal year 2026.
Aeries Technology had 48M shares outstanding in fiscal year 2026. This represents an increase of 2.9% from the prior year.
Margins & Returns
Aeries Technology's gross margin was 24.7% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the prior year.
Aeries Technology's operating margin was 6.5% in fiscal year 2026, reflecting core business profitability. This is up 47.4 percentage points from the prior year.
Aeries Technology's net profit margin was 4.0% in fiscal year 2026, showing the share of revenue converted to profit. This is up 34.8 percentage points from the prior year.
Capital Allocation
Aeries Technology invested $1.1M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 25.0% from the prior year.
AERT Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $19.9M+13.8% | $17.5M+0.6% | $17.4M+13.2% | $15.3M-19.5% | $19.1M+8.2% | $17.6M+4.4% | $16.9M+1.2% | $16.7M |
| Cost of Revenue | $14.7M+4.2% | $14.1M+14.4% | $12.3M+6.8% | $11.6M-17.2% | $14.0M+2.9% | $13.6M+2.0% | $13.3M+5.1% | $12.7M |
| Gross Profit | $5.2M+54.3% | $3.3M-33.5% | $5.0M+32.9% | $3.8M-25.8% | $5.1M+26.0% | $4.0M+13.1% | $3.6M-10.8% | $4.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $4.2M+64.0% | $2.6M-15.4% | $3.0M+2.7% | $3.0M-63.9% | $8.2M-11.0% | $9.2M+19.9% | $7.7M-62.5% | $20.4M |
| Operating Income | $941K+21.9% | $772K-61.1% | $2.0M+142.1% | $820K+126.5% | -$3.1M+39.9% | -$5.2M-25.9% | -$4.1M+75.1% | -$16.4M |
| Interest Expense | $123K+61.8% | $76K-19.1% | $94K-44.7% | $170K-30.0% | $243K+7.5% | $226K+67.4% | $135K-8.2% | $147K |
| Income Tax | $500K+36.6% | $366K-53.9% | $794K+139.9% | $331K-83.3% | $2.0M+237.8% | -$1.4M-173.8% | -$526K+51.8% | -$1.1M |
| Net Income | -$269K-123.2% | $1.2M+213.6% | $369K-76.6% | $1.6M+121.5% | -$7.3M-374.6% | $2.7M+217.1% | -$2.3M+84.4% | -$14.7M |
| EPS (Diluted) | N/A | $0.02+100.0% | $0.01-66.7% | $0.03 | N/A | $0.08+260.0% | $-0.05+87.2% | $-0.39 |
AERT Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $41.9M-0.2% | $42.0M+3.7% | $40.5M+4.3% | $38.8M-2.5% | $39.8M-21.4% | $50.7M-2.5% | $52.0M+0.4% | $51.8M |
| Current Assets | $23.9M+11.4% | $21.5M+4.5% | $20.5M+2.1% | $20.1M-5.8% | $21.3M-13.3% | $24.6M-16.5% | $29.4M-12.9% | $33.8M |
| Cash & Equivalents | $4.9M+89.8% | $2.6M+37.7% | $1.9M-12.7% | $2.1M-22.7% | $2.8M+15.8% | $2.4M-34.2% | $3.6M-13.6% | $4.2M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $12.7M+23.1% | $10.3M-8.5% | $11.3M+18.2% | $9.5M-13.1% | $11.0M-22.6% | $14.2M-23.2% | $18.5M-17.5% | $22.4M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $44.5M+4.0% | $42.8M-0.8% | $43.1M-0.3% | $43.3M-5.8% | $45.9M-8.2% | $50.0M-6.1% | $53.3M+4.8% | $50.8M |
| Current Liabilities | $30.7M+7.4% | $28.6M-1.4% | $29.0M-5.7% | $30.7M-5.3% | $32.4M-7.4% | $35.0M-10.7% | $39.2M+1.0% | $38.8M |
| Long-Term Debt | $798K-5.3% | $843K-9.9% | $936K-14.1% | $1.1M-0.5% | $1.1M-25.7% | $1.5M-2.6% | $1.5M-9.6% | $1.7M |
| Total Equity | -$3.0M-154.5% | -$1.2M+59.0% | -$2.9M+32.3% | -$4.3M+26.1% | -$5.8M-938.7% | $692K+129.9% | -$2.3M-902.6% | -$231K |
| Retained Earnings | -$28.9M-1.1% | -$28.5M+3.6% | -$29.6M+0.8% | -$29.9M+4.8% | -$31.4M-22.5% | -$25.6M+10.6% | -$28.7M-8.3% | -$26.5M |
AERT Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.0M-15.1% | $2.4M+131.0% | $1.0M-25.1% | $1.4M+58.4% | $864K+141.6% | -$2.1M-207.9% | $1.9M+211.9% | -$1.7M |
| Capital Expenditures | $248K+6.0% | $234K-37.1% | $372K+43.6% | $259K+131.3% | $112K-71.3% | $390K-36.3% | $612K+65.4% | $370K |
| Free Cash Flow | $1.8M-17.4% | $2.1M+226.8% | $653K-41.2% | $1.1M+47.6% | $752K+130.5% | -$2.5M-288.0% | $1.3M+162.8% | -$2.1M |
| Investing Cash Flow | -$240K+1.6% | -$244K-269.7% | -$66K+92.4% | -$868K-308.7% | $416K+245.5% | -$286K+24.7% | -$380K+37.5% | -$608K |
| Financing Cash Flow | $686K+149.9% | -$1.4M-16.5% | -$1.2M-2.8% | -$1.1M-26.0% | -$911K-183.3% | $1.1M+151.2% | -$2.1M-148.7% | $4.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AERT Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.0%+6.8pp | 19.1%-9.8pp | 28.9%+4.3pp | 24.6%-2.1pp | 26.7%+3.8pp | 23.0%+1.8pp | 21.2%-2.9pp | 24.1% |
| Operating Margin | 4.7%+0.3pp | 4.4%-7.0pp | 11.4%+6.1pp | 5.3%+21.6pp | -16.3%+13.0pp | -29.3%-5.0pp | -24.3%+74.3pp | -98.5% |
| Net Margin | -1.4%-8.0pp | 6.6%+4.5pp | 2.1%-8.1pp | 10.3%+48.8pp | -38.5%-53.6pp | 15.2%+28.7pp | -13.5%+74.4pp | -87.9% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | 385.8% | N/A | N/A |
| Return on Assets | -0.6%-3.4pp | 2.8%+1.8pp | 0.9%-3.1pp | 4.0%+22.5pp | -18.4%-23.7pp | 5.3%+9.7pp | -4.4%+23.9pp | -28.3% |
| Current Ratio | 0.78+0.0 | 0.75+0.0 | 0.71+0.1 | 0.650.0 | 0.66-0.0 | 0.70-0.0 | 0.75-0.1 | 0.87 |
| Debt-to-Equity | -0.26+0.4 | -0.71-0.4 | -0.32-0.1 | -0.25-0.1 | -0.19-2.3 | 2.13+2.8 | -0.65+6.6 | -7.25 |
| FCF Margin | 8.9%-3.4pp | 12.2%+8.5pp | 3.8%-3.5pp | 7.2%+3.3pp | 4.0%+18.0pp | -14.0%-21.8pp | 7.8%+20.3pp | -12.5% |
Note: Shareholder equity is negative (-$3.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Aeries Technology's annual revenue?
Aeries Technology (AERT) reported $70.0M in total revenue for fiscal year 2026. This represents a -0.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Aeries Technology's revenue growing?
Aeries Technology (AERT) revenue declined by 0.3% year-over-year, from $70.2M to $70.0M in fiscal year 2026.
Is Aeries Technology profitable?
Yes, Aeries Technology (AERT) reported a net income of $2.8M in fiscal year 2026, with a net profit margin of 4.0%.
What is Aeries Technology's EBITDA?
Aeries Technology (AERT) had EBITDA of $5.4M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Aeries Technology have?
As of fiscal year 2026, Aeries Technology (AERT) had $4.9M in cash and equivalents against $798K in long-term debt.
What is Aeries Technology's gross margin?
Aeries Technology (AERT) had a gross margin of 24.7% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Aeries Technology's operating margin?
Aeries Technology (AERT) had an operating margin of 6.5% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Aeries Technology's net profit margin?
Aeries Technology (AERT) had a net profit margin of 4.0% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Aeries Technology's free cash flow?
Aeries Technology (AERT) generated $5.7M in free cash flow during fiscal year 2026. This represents a 327.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Aeries Technology's operating cash flow?
Aeries Technology (AERT) generated $6.8M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Aeries Technology's total assets?
Aeries Technology (AERT) had $41.9M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Aeries Technology's capital expenditures?
Aeries Technology (AERT) invested $1.1M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Aeries Technology's current ratio?
Aeries Technology (AERT) had a current ratio of 0.78 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
What is Aeries Technology's debt-to-equity ratio?
Aeries Technology (AERT) had a debt-to-equity ratio of -0.26 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Aeries Technology's return on assets (ROA)?
Aeries Technology (AERT) had a return on assets of 6.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
Why is Aeries Technology's debt-to-equity ratio negative or unusual?
Aeries Technology (AERT) has negative shareholder equity of -$3.0M as of fiscal year 2026, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Aeries Technology's Altman Z-Score?
Aeries Technology (AERT) has an Altman Z-Score of 1.44, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Aeries Technology's Piotroski F-Score?
Aeries Technology (AERT) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Aeries Technology's earnings high quality?
Aeries Technology (AERT) has an earnings quality ratio of 2.39x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Aeries Technology cover its interest payments?
Aeries Technology (AERT) has an interest coverage ratio of 9.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Aeries Technology?
Aeries Technology (AERT) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.