NASDAQ : AERT
Aeries Technology, Inc — Financial statements
Industrials · Consulting Services · Singapore
Last price 5.86 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 30.75M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Aeries Technology, Inc (AERT) reported revenue of 76.60M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 76.60M | 70.01M | 70.20M | 72.51M | 53.10M | 41.01M |
| Cost of Revenue | 56.70M | 52.72M | 53.48M | 50.87M | 39.44M | 29.01M |
| Gross Profit | 19.90M | 17.30M | 16.72M | 21.64M | 13.66M | 12.01M |
| Selling, General & Admin | 12.84M | 12.78M | 43.80M | 18.65M | 10.38M | 5.42M |
| Operating Expenses | 12.84M | 12.78M | 43.80M | 18.65M | 10.38M | 5.42M |
| Operating Income | 7.06M | 4.52M | -27.08M | 2.99M | 3.28M | 6.58M |
| Interest Expense | -409.00K | -463.00K | -751.00K | -462.00K | -185.00K | -444.00K |
| Interest & Investment Income | 324.00K | 318.00K | 326.00K | 275.00K | 191.00K | 284.00K |
| Currency Exchange Gain (Loss) | 273.00K | 273.00K | -117.00K | 21.00K | 391.00K | 66.00K |
| Other Non Operating Income (Expenses) | -696.00K | 819.00K | 6.64M | 16.31M | 38.00K | -487.00K |
| EBT Excluding Unusual Items | 6.55M | 5.46M | -20.97M | 19.13M | 3.71M | 6.00M |
| Merger & Restructuring Charges | -946.00K | |||||
| Asset Writedown | -1.69M | |||||
| Pretax Income | 6.55M | 5.46M | -22.67M | 19.13M | 2.77M | 6.00M |
| Income Tax Expense | 2.54M | 1.99M | -1.07M | 1.87M | 1.06M | 1.27M |
| Earnings From Continuing Operations | 4.01M | 3.47M | -21.59M | 17.26M | 1.71M | 4.74M |
| Minority Interest in Earnings | -1.19M | -920.00K | 1.88M | -1.60M | -260.00K | -703.00K |
| Net Income | 2.82M | 2.55M | -19.71M | 15.66M | 1.45M | 4.03M |
| Preferred Dividends & Other Adjustments | 1.50M | 515.00K | ||||
| Net Income to Common | 2.82M | 2.55M | -19.71M | 14.15M | 1.45M | 3.52M |
| Shares Outstanding (Basic) | 6.01M | 6.04M | 5.39M | 1.94M | ||
| Shares Outstanding (Diluted) | 6.21M | 6.04M | 5.39M | 1.94M | ||
| EPS (Basic) | 0.47 | 0.42 | -3.66 | 7.29 | ||
| EPS (Diluted) | 0.45 | 0.42 | -3.66 | 7.29 | ||
| Free Cash Flow | 9.09M | 5.66M | -2.49M | -5.82M | 511.00K | 1.51M |
| Free Cash Flow Per Share | 1.46 | 0.94 | -0.46 | -3.00 | ||
| Gross Margin | 25.98% | 24.71% | 23.82% | 29.85% | 25.72% | 29.28% |
| Operating Margin | 9.21% | 6.45% | -38.57% | 4.12% | 6.17% | 16.05% |
| Profit Margin | 3.69% | 3.65% | -28.08% | 19.52% | 2.72% | 8.58% |
| Free Cash Flow Margin | 11.87% | 8.08% | -3.55% | -8.03% | 0.96% | 3.68% |
| EBITDA | 7.91M | 5.36M | -25.69M | 4.34M | 4.45M | 7.72M |
| EBITDA Margin | 10.33% | 7.65% | -36.60% | 5.98% | 8.38% | 18.83% |
| D&A For EBITDA | 856.00K | 837.00K | 1.38M | 1.35M | 1.17M | 1.14M |
| EBIT | 7.06M | 4.52M | -27.08M | 2.99M | 3.28M | 6.58M |
| EBIT Margin | 9.21% | 6.45% | -38.57% | 4.12% | 6.17% | 16.05% |
| Effective Tax Rate | 38.75% | 36.43% | 9.78% | 38.32% | 21.12% |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 6.07M | 4.88M | 2.76M | 2.08M | 1.13M | 351.00K |
| Cash & Short-Term Investments | 6.07M | 4.88M | 2.76M | 2.08M | 1.13M | 351.00K |
| Receivables | 13.75M | 12.72M | 10.98M | 23.76M | 13.42M | 8.13M |
| Prepaid Expenses | 5.07M | 866.00K | 1.20M | 878.00K | 405.00K | 359.00K |
| Other Current Assets | 125.00K | 5.43M | 6.38M | 6.12M | 5.63M | 3.09M |
| Total Current Assets | 25.01M | 23.89M | 21.33M | 32.84M | 20.59M | 11.93M |
| Property, Plant & Equipment | 8.49M | 10.36M | 11.17M | 10.90M | 8.75M | 2.80M |
| Long-Term Investments | 1.96M | 1.90M | 1.83M | 1.61M | 1.56M | 1.56M |
| Long-Term Deferred Tax Assets | 4.12M | 3.69M | 4.06M | 1.93M | 1.24M | 1.07M |
| Other Long-Term Assets | 1.37M | 1.82M | 1.21M | 1.47M | 1.82M | 987.00K |
| Total Assets | 41.19M | 41.89M | 39.83M | 49.41M | 34.40M | 18.86M |
| Accounts Payable | 8.87M | 9.27M | 8.15M | 6.62M | 2.47M | 841.00K |
| Accrued Expenses | 2.38M | 5.21M | 7.49M | 8.01M | 4.14M | 2.69M |
| Short-Term Debt | 3.19M | 4.34M | 6.48M | 6.76M | 1.36M | 220.00K |
| Current Portion of Long-Term Debt | 90.00K | 92.00K | 24.00K | 13.00K | 12.00K | |
| Current Portion of Leases | 1.30M | 2.78M | 2.70M | 2.37M | 1.96M | 388.00K |
| Current Income Taxes Payable | 2.70M | 1.43M | 3.58M | 2.26M | 1.35M | |
| Current Unearned Revenue | 3.30M | 466.00K | 274.00K | 261.00K | 193.00K | 228.00K |
| Other Current Liabilities | 10.31M | 5.83M | 5.86M | 10.50M | 124.00K | 893.00K |
| Total Current Liabilities | 29.44M | 30.69M | 32.42M | 38.12M | 12.52M | 6.61M |
| Long-Term Debt | 795.00K | 798.00K | 1.10M | 1.44M | 969.00K | 917.00K |
| Long-Term Leases | 5.80M | 6.36M | 7.48M | 5.62M | 4.50M | 467.00K |
| Long-Term Deferred Tax Liabilities | 213.00K | 197.00K | 139.00K | 92.00K | 168.00K | 126.00K |
| Other Long-Term Liabilities | 6.82M | 6.44M | 4.80M | 5.32M | 2.77M | 2.04M |
| Total Liabilities | 43.06M | 44.48M | 45.94M | 50.59M | 20.93M | 10.17M |
| Common Stock | 5.00K | 5.00K | 14.42M | 2.00K | ||
| Additional Paid-In Capital | 3.33M | |||||
| Retained Earnings | -27.09M | -28.87M | -31.38M | -11.67M | 6.32M | 4.87M |
| Treasury Stock | -2.25M | -1.30M | -724.00K | |||
| Comprehensive Income & Other | 26.54M | 27.14M | 11.88M | -574.00K | 5.87M | -644.00K |
| Total Common Equity | -2.80M | -3.03M | -5.80M | -12.24M | 12.19M | 7.56M |
| Minority Interest | 927.00K | 449.00K | -300.00K | 11.06M | 1.28M | 1.14M |
| Shareholders' Equity | -1.87M | -2.58M | -6.10M | -1.18M | 13.47M | 8.70M |
| Total Liabilities & Equity | 41.19M | 41.89M | 39.83M | 49.41M | 34.40M | 18.86M |
| Total Debt | 11.17M | 14.38M | 17.78M | 16.21M | 8.80M | 1.99M |
| Net Cash (Debt) | -5.10M | -9.50M | -15.02M | -14.12M | -7.67M | -1.64M |
| Net Cash Per Share | -0.82 | -1.57 | -2.79 | -7.27 | ||
| Filing Date Shares Outstanding | 5.25M | 5.74M | 5.89M | 5.56M | ||
| Total Common Shares Outstanding | 5.64M | 6.06M | 5.89M | 1.95M | ||
| Working Capital | -4.43M | -6.80M | -11.09M | -5.29M | 8.06M | 5.32M |
| Book Value Per Share | -0.50 | -0.50 | -0.98 | -6.27 | ||
| Tangible Book Value | -2.80M | -3.03M | -5.80M | -12.24M | 12.19M | 7.56M |
| Tangible Book Value Per Share | -0.50 | -0.50 | -0.98 | -6.27 | ||
| Machinery | 866.00K | 921.00K | 885.00K | 830.00K | 593.00K | |
| Construction In Progress | 769.00K | 875.00K | 234.00K | |||
| Leasehold Improvements | 891.00K | 944.00K | 1.09M | 854.00K | 958.00K |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 2.82M | 2.55M | -19.71M | 15.66M | 1.45M | 4.03M |
| Depreciation & Amortization | 856.00K | 837.00K | 1.38M | 1.35M | 1.17M | 1.14M |
| Loss (Gain) From Sale of Assets | 12.00K | -18.00K | 90.00K | 12.00K | 54.00K | 505.00K |
| Asset Writedown & Restructuring Costs | 1.69M | |||||
| Loss (Gain) From Sale of Investments | 1.00K | 1.00K | 6.00K | |||
| Stock-Based Compensation | 1.00M | 293.00K | 12.75M | 1.63M | 3.81M | |
| Provision & Write-off of Bad Debts | -1.96M | -1.95M | 2.09M | 1.10M | ||
| Other Operating Activities | 3.49M | 2.17M | -973.00K | -15.52M | -68.00K | 350.00K |
| Change in Accounts Receivable | -4.66M | -3.28M | 261.00K | -11.74M | -6.12M | -4.42M |
| Change in Accounts Payable | 2.87M | 2.72M | 3.70M | -568.00K | 1.02M | 653.00K |
| Change in Other Net Operating Assets | 5.79M | 3.45M | -2.29M | 3.79M | 799.00K | 907.00K |
| Operating Cash Flow | 10.23M | 6.77M | -1.01M | -4.30M | 2.11M | 3.16M |
| Capital Expenditures | -1.13M | -1.11M | -1.48M | -1.52M | -1.60M | -1.65M |
| Sale of Property, Plant & Equipment | 88.00K | 87.00K | 217.00K | 11.00K | 12.00K | 1.05M |
| Other Investing Activities | 217.00K | -392.00K | 409.00K | -231.00K | 31.00K | 171.00K |
| Investing Cash Flow | -828.00K | -1.42M | -858.00K | -1.74M | -1.56M | -437.00K |
| Short-Term Debt Issued | 2.54M | 1.18M | ||||
| Long-Term Debt Issued | 1.51M | 882.00K | 368.00K | 699.00K | ||
| Total Debt Issued | 1.51M | 3.43M | 1.55M | 699.00K | ||
| Short-Term Debt Repaid | -1.83M | -405.00K | -505.00K | |||
| Long-Term Debt Repaid | -571.00K | -2.60M | -2.73M | -619.00K | -3.76M | |
| Total Debt Repaid | -2.46M | -2.40M | -3.01M | -2.73M | -619.00K | -4.27M |
| Net Debt Issued (Repaid) | -2.46M | -2.40M | -1.50M | 697.00K | 933.00K | -3.57M |
| Issuance of Common Stock | 4.68M | 8.67M | 88.00K | 32.00K | ||
| Repurchase of Common Stock | -2.74M | -580.00K | -724.00K | |||
| Other Financing Activities | -33.00K | -33.00K | -20.00K | -2.31M | -769.00K | |
| Financing Cash Flow | -5.23M | -3.02M | 2.43M | 7.06M | 252.00K | -3.54M |
| Foreign Exchange Rate Adjustments | -241.00K | -223.00K | 115.00K | -64.00K | -26.00K | -17.00K |
| Net Cash Flow | 3.93M | 2.11M | 680.00K | 953.00K | 780.00K | -827.00K |
| Free Cash Flow | 9.09M | 5.66M | -2.49M | -5.82M | 511.00K | 1.51M |
| Free Cash Flow Margin | 11.87% | 8.08% | -3.55% | -8.03% | 0.96% | 3.68% |
| Free Cash Flow Per Share | 1.46 | 0.94 | -0.46 | -3.00 | ||
| Levered Free Cash Flow | 6.49M | 2.35M | 1.69M | 11.52M | 618.50K | 1.20M |
| Unlevered Free Cash Flow | 6.75M | 2.64M | 2.16M | 11.81M | 734.12K | 1.48M |
| Cash Interest Paid | 307.00K | 346.00K | 910.00K | 465.00K | 273.00K | 472.00K |
| Cash Income Tax Paid | 2.45M | 1.28M | 2.50M | 1.01M | 1.23M | 1.42M |
| Change in Working Capital | 4.00M | 2.89M | 1.67M | -8.52M | -4.30M | -2.86M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 30.75M | 15.31M | 25.84M | 40.14M | 297.56M | 275.80M |
| Enterprise Value | 35.85M | 27.49M | 41.84M | 57.41M | ||
| Last Close Price | 5.86 | 2.50 | 4.64 | 20.56 | 82.80 | 78.80 |
| PE Ratio | 13.01 | 6.00 | 2.84 | 205.78 | 78.42 | |
| PS Ratio | 0.40 | 0.22 | 0.37 | 0.55 | 5.60 | 6.72 |
| PB Ratio | -5.92 | -4.23 | -34.02 | 22.09 | 31.72 | |
| P/TBV Ratio | 24.41 | 36.50 | ||||
| P/FCF Ratio | 3.38 | 2.71 | 582.31 | 182.65 | ||
| P/OCF Ratio | 3.01 | 2.26 | 140.96 | 87.17 | ||
| EV/Sales Ratio | 0.47 | 0.39 | 0.60 | 0.79 | ||
| EV/EBITDA Ratio | 4.53 | 5.13 | 13.23 | |||
| EV/EBIT Ratio | 5.08 | 6.08 | 19.22 | |||
| EV/FCF Ratio | 3.94 | 4.86 | ||||
| Debt / Equity Ratio | -5.97 | -5.56 | -2.91 | -13.73 | 0.65 | 0.23 |
| Debt / EBITDA Ratio | 0.91 | 1.51 | 2.27 | 1.31 | 0.26 | |
| Debt / FCF Ratio | 1.23 | 2.54 | 17.21 | 1.32 | ||
| Net Debt / Equity Ratio | -2.73 | -3.67 | -2.46 | -11.97 | 0.57 | 0.19 |
| Net Debt / EBITDA Ratio | 0.65 | 1.77 | -0.58 | 3.25 | 1.72 | 0.21 |
| Net Debt / FCF Ratio | 0.56 | 1.68 | -6.02 | -2.43 | 15.00 | 1.09 |
| Asset Turnover | 1.92 | 1.71 | 1.57 | 1.73 | 1.99 | 2.31 |
| Quick Ratio | 0.67 | 0.57 | 0.42 | 0.68 | 1.16 | 1.28 |
| Current Ratio | 0.85 | 0.78 | 0.66 | 0.86 | 1.64 | 1.80 |
| Return on Equity (ROE) | 280.84% | 15.39% | 72.57% | |||
| Return on Assets (ROA) | 11.03% | 6.91% | -37.93% | 4.46% | 7.69% | 23.17% |
| Return on Invested Capital (ROIC) | 37.67% | 30.85% | -289.67% | 16.63% | 12.84% | 57.25% |
| Return on Capital Employed (ROCE) | 60.10% | 40.30% | -365.30% | 26.50% | 15.00% | 53.80% |
| Earnings Yield | 7.68% | 16.68% | -76.28% | 39.01% | 0.49% | 1.46% |
| FCF Yield | 29.57% | 36.95% | -9.65% | -14.50% | 0.17% | 0.55% |
| Buyback Yield / Dilution | -9.45% | -12.18% | -177.36% |