Aeries Technology Financials
This page shows Aeries Technology (AERTW) 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).
Flat revenue with a cost surge turned FY2025 into an accounting loss, while a receivables unwind softened cash burn.
FY2025's cash burn was far smaller than its net loss, with operating cash flow of-$1.0M against net income of-$21.6M . At the same time, receivables fell to$11.0M from$23.8M , implying the year's cash picture was cushioned by a working-capital release rather than by a repaired cost base.
FY2025's operating break came from costs outrunning a mostly stable top line: revenue was
The liquidity posture is tight: the current ratio was 0.7x and liabilities exceeded assets by about
Financial Health Signals
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. 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 23/100, 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 26/100.
Aeries Technology's current ratio of 0.78 is below the typical benchmark, resulting in a score of 11/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Aeries Technology has a free cash flow margin of 8.1%, earning a moderate score of 33/100. The company generates positive cash flow after capital investments, but with room for improvement.
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.
AERTW 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 |
AERTW 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 |
AERTW 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 |
AERTW 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 | N/A | N/A | N/A | N/A | N/A | 2.13 | N/A | N/A |
| 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.
Frequently Asked Questions
What is Aeries Technology's annual revenue?
Aeries Technology (AERTW) 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 (AERTW) 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 (AERTW) 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 (AERTW) 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 (AERTW) had $4.9M in cash and equivalents against $798K in long-term debt.
What is Aeries Technology's gross margin?
Aeries Technology (AERTW) 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 (AERTW) 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 (AERTW) 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 (AERTW) 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 (AERTW) 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 (AERTW) 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 (AERTW) 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 (AERTW) 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 return on assets (ROA)?
Aeries Technology (AERTW) 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 not reported?
Aeries Technology (AERTW) has negative shareholder equity of -$3.0M as of fiscal year 2026, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Piotroski F-Score?
Aeries Technology (AERTW) 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 (AERTW) 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 (AERTW) 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 (AERTW) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.