Stock fact sheet · data as of
Aquestive Therapeutics, Inc. (AQST): fair value, margin of safety and Wheel Score
Ticker symbol AQST · Healthcare · Drug Manufacturers - Specialty & Generic · United States · Speculative
Is AQST undervalued?
At 3.80 (close of 5 Nov 2026), AQST has no GLS fair value: every one of the nine models needs a positive input (the company lost money over the last twelve months, EPS -0.63, it pays no dividend and its debts exceed what its assets would fetch), so the margin of safety is blank and the Wheel Score cannot be computed. Our scans leave the stock out at the first filter. What can be said from the nightly row is below.
The nightly engine files AQST under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for AQST
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -0.3571 | -109% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 10.50 | +176% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Aquestive Therapeutics, Inc. scores only 3 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 1.6/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -85.7%, ROE 248.9%, ROA -52.2% - with debt at -3.90 times equity and negative free cash flow.
Aquestive Therapeutics, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Manufacture and Supply Revenue 86%, License and Royalty Revenue 10%, Co Development and Research Fees 4% (quarter Q2 FY2026).
Institutional ownership scores 7/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | -85.7% |
|---|---|---|---|
| GLS Moat | 1.6 / 10 | ROE | 248.9% |
| Debt / equity | -3.90 | ROA | -52.2% |
| Free-cash-flow yield | -8.5% | Payout ratio | 0% |
| Institutions | 7 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 25: Weak
With a Wheel Score of 25 Aquestive Therapeutics, Inc. sits in the Weak band. It fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 3, below fair value - trades right at our fair value; and filter 4, financially healthy - Piotroski 3/9 (under 6); and filter 5, can repay its debt - debt with no positive cash flow to repay it; and filter 6, no serious red flags - Red Flags score 35 (under 60); and filter 8, big enough - market cap $477M (under $1.0B); and filter 9, not a penny stock - price 3.80 (under $5); Value (weak) is its weakest part.
Implied volatility is 63% on the near-the-money contracts 20-60 days out - above the 60% top of the sweet spot. It still passes the 25-80% filter, but the Wheel Score rewards it less because volatility this high usually comes with a reason. Chain open interest is 35,167 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 3.3M shares a day on a market cap of $477M, with a beta of 1.49 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that weak.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Fails | trades right at our fair value |
| 4 | Financially healthy | Fails | Piotroski 3/9 (under 6) |
| 5 | Can repay its debt | Fails | debt with no positive cash flow to repay it |
| 6 | No serious red flags | Fails | Red Flags score 35 (under 60) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $477M (under $1.0B) |
| 9 | Not a penny stock | Fails | price 3.80 (under $5) |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 0% below fair value | |
| Premium | Strong | implied volatility 63% | |
| Moat | Weak | moat 1.6/10 | |
| Health | Weak | Piotroski 3/9 | |
| Red Flags | Weak | Red Flags score 35/100 | |
| Option trading | Good | 1,851 contracts a day, 35,167 open interest | |
| Stability | Weak | beta 1.49, $477M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for AQST in the nightly calendar.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Drug Manufacturers - Specialty & Generic
The 12 companies below are the closest to Aquestive Therapeutics, Inc. by market cap within the Drug Manufacturers - Specialty & Generic industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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|---|---|---|---|---|---|
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| EVO Evotec SE | 1.57 | - | - | 13No options | $558M |
| VRNO Verano Holdings Corp | 5.16 | 27.65 | +81% | 30No options | $376M |
| NIKA Nika Pharmaceuticals Inc. | 0.3500 | 0.0000 | -19409229% | 11No options | $367M |
| IRWD Ironwood Pharmaceuticals, Inc. | 3.77 | 12.30 | +69% | 36Weak | $623M |
| ACB Aurora Cannabis Inc. | 5.24 | - | - | 27Weak | $332M |
| TLRY Tilray Brands, Inc. | 2.96 | - | - | 24Weak | $331M |
| CGC Canopy Growth Corporation | 0.7517 | - | - | 11Weak | $318M |
| EBS Emergent BioSolutions Inc. | 5.90 | 45.07 | +87% | 36Weak | $303M |
| COLL Collegium Pharmaceutical, Inc. | 23.67 | 150.51 | +84% | 46Weak | $771M |
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Start free See the Sunday ScanQuestions about AQST
Is AQST undervalued right now?
The GLS models could not value AQST (the company lost money over the last twelve months, EPS -0.63, it pays no dividend and its debts exceed what its assets would fetch), so there is no fair value or margin of safety to compare the price of 3.80 against.
What is the Wheel Score of AQST and what does it mean?
AQST scores 25 out of 100 (Weak) - it fails Wheel Trade Filters 2, 3, 4, 5, 6, 8, 9. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for AQST?
None of the nine GLS models produced a positive value for AQST (the company lost money over the last twelve months, EPS -0.63, it pays no dividend and its debts exceed what its assets would fetch), so there is no GLS fair value tonight.
When does Aquestive Therapeutics, Inc. report earnings next?
No upcoming earnings date is recorded for AQST in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does AQST have listed options, and how liquid are they?
Yes. The nightly snapshot found 12 listed contracts with 35,167 open interest across all expiries and implied volatility of 63% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.