Aqua Metals (AQMS)
Market Price (12/28/2025): $4.88 | Market Cap: $7.0 MilSector: Industrials | Industry: Environmental & Facilities Services
Aqua Metals (AQMS)
Market Price (12/28/2025): $4.88Market Cap: $7.0 MilSector: IndustrialsIndustry: Environmental & Facilities Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -44% | Weak multi-year price returns2Y Excs Rtn is -143%, 3Y Excs Rtn is -177% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Battery Technology & Metals, and Sustainable Resource Management. Themes include Advanced Recycling Technologies, Show more. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -14 Mil | |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -375% | ||
| High stock price volatilityVol 12M is 1057% | ||
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21% | ||
| Key risksAQMS key risks include [1] its inability to secure definitive project financing for commercial scale, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -44% |
| Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Battery Technology & Metals, and Sustainable Resource Management. Themes include Advanced Recycling Technologies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -143%, 3Y Excs Rtn is -177% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -14 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -375% |
| High stock price volatilityVol 12M is 1057% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21% |
| Key risksAQMS key risks include [1] its inability to secure definitive project financing for commercial scale, Show more. |
Why The Stock Moved
Qualitative Assessment
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Here are five key points that likely contributed to Aqua Metals' (AQMS) stock movement from August 31, 2025, to December 29, 2025:
1. Significant Capital Raise Strengthens Financial Position.Aqua Metals successfully completed a $13 million capital raise from a prominent institutional investor in October 2025. This funding is expected to provide several quarters of significant operational runway, accelerating the company's commercialization strategy for its recycling technology.
2. Positive Third Quarter 2025 Financial Results and Business Update.On November 12, 2025, Aqua Metals reported its Q3 2025 results, which highlighted a reduced net loss of $2.8 million compared to $4.7 million in Q3 2024, driven by decreased operating costs. The positive update on strategic advancements and financial improvements led to a significant stock jump of 16.26% in aftermarket trading.
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1. Significant Capital Raise Strengthens Financial Position.Aqua Metals successfully completed a $13 million capital raise from a prominent institutional investor in October 2025. This funding is expected to provide several quarters of significant operational runway, accelerating the company's commercialization strategy for its recycling technology.
2. Positive Third Quarter 2025 Financial Results and Business Update.On November 12, 2025, Aqua Metals reported its Q3 2025 results, which highlighted a reduced net loss of $2.8 million compared to $4.7 million in Q3 2024, driven by decreased operating costs. The positive update on strategic advancements and financial improvements led to a significant stock jump of 16.26% in aftermarket trading.
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Stock Movement Drivers
Fundamental Drivers
The -33.2% change in AQMS stock from 9/28/2025 to 12/28/2025 was primarily driven by a -56.7% change in the company's Shares Outstanding (Mil).| 9282025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 7.30 | 4.88 | -33.15% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 0.00 | 0.00 | � |
| P/S Multiple | ∞ | ∞ | � |
| Shares Outstanding (Mil) | 0.91 | 1.43 | -56.70% |
| Cumulative Contribution | � |
Market Drivers
9/28/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| AQMS | -33.6% | |
| Market (SPY) | 4.3% | 1.7% |
| Sector (XLI) | 3.0% | 22.4% |
Fundamental Drivers
The -6.2% change in AQMS stock from 6/29/2025 to 12/28/2025 was primarily driven by a -76.2% change in the company's Shares Outstanding (Mil).| 6292025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 5.20 | 4.88 | -6.15% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 0.00 | 0.00 | � |
| P/S Multiple | ∞ | ∞ | � |
| Shares Outstanding (Mil) | 0.81 | 1.43 | -76.17% |
| Cumulative Contribution | � |
Market Drivers
6/29/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| AQMS | -6.7% | |
| Market (SPY) | 12.6% | 19.5% |
| Sector (XLI) | 7.5% | 14.8% |
Fundamental Drivers
The -81.4% change in AQMS stock from 12/28/2024 to 12/28/2025 was primarily driven by a -109.2% change in the company's Shares Outstanding (Mil).| 12282024 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 26.20 | 4.88 | -81.37% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 0.00 | 0.00 | � |
| P/S Multiple | ∞ | ∞ | � |
| Shares Outstanding (Mil) | 0.68 | 1.43 | -109.24% |
| Cumulative Contribution | � |
Market Drivers
12/28/2024 to 12/28/2025| Return | Correlation | |
|---|---|---|
| AQMS | -81.5% | |
| Market (SPY) | 17.0% | 9.4% |
| Sector (XLI) | 19.2% | 8.1% |
Fundamental Drivers
The -97.5% change in AQMS stock from 12/29/2022 to 12/28/2025 was primarily driven by a -268.5% change in the company's Shares Outstanding (Mil).| 12292022 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 196.00 | 4.88 | -97.51% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 0.18 | 0.00 | -100.00% |
| P/S Multiple | 428.56 | ∞ | ∞% |
| Shares Outstanding (Mil) | 0.39 | 1.43 | -268.52% |
| Cumulative Contribution | � |
Market Drivers
12/29/2023 to 12/28/2025| Return | Correlation | |
|---|---|---|
| AQMS | -96.8% | |
| Market (SPY) | 48.4% | 7.9% |
| Sector (XLI) | 41.4% | 6.8% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AQMS Return | 297% | -59% | 2% | -39% | -83% | -79% | -96% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| AQMS Win Rate | 58% | 25% | 50% | 42% | 17% | 33% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| AQMS Max Drawdown | -55% | -59% | -59% | -39% | -91% | -98% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | AQMS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -93.0% | -25.4% |
| % Gain to Breakeven | 1325.8% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -65.5% | -33.9% |
| % Gain to Breakeven | 190.0% | 51.3% |
| Time to Breakeven | 78 days | 148 days |
| 2018 Correction | ||
| % Loss | -98.1% | -19.8% |
| % Gain to Breakeven | 5111.9% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Aqua Metals's stock fell -93.0% during the 2022 Inflation Shock from a high on 1/26/2021. A -93.0% loss requires a 1325.8% gain to breakeven.
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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.
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Analogy 1: The Waste Management of lithium-ion battery recycling.
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- AquaRefined Lead Products: High-purity, ultra-low-sulfur lead and lead alloys produced through their proprietary AquaRefining technology.
- AquaRefining Technology Licensing: Offering their patented, environmentally friendly lead recycling technology to partners globally for their own operations.
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Aqua Metals (AQMS) primarily sells its AquaRefining technology and related services to other companies (B2B) in the battery manufacturing and recycling industries. Its business model focuses on technology licensing agreements, equipment supply, and strategic partnerships.
Major companies that are customers, licensees, or significant strategic partners include:
- BASF SE (BASFY): Aqua Metals has a multi-phase, multi-year joint development agreement with BASF NEV, a wholly-owned subsidiary of BASF SE, to develop AquaRefining for precious metals recycling. BASF SE is a major global chemical company.
- Advanced Circular Industry (ACI): An Italian company that entered into a multi-year exclusive equipment supply and licensing agreement with Aqua Metals to deploy AquaRefining technology in Europe and the Middle East. ACI is a private company.
- Clarios: A global leader in advanced battery solutions (formerly Johnson Controls Power Solutions). Clarios previously partnered with Aqua Metals to develop and scale the AquaRefining technology for lead-acid battery recycling applications. Clarios is a private company.
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Aqua Metals Management Team: Steve Cotton, President & CEO Steve Cotton co-founded and served as CEO of Data Power Monitoring Corporation and IntelliBatt (now Canara) for 15 years, growing it into a global multi-million dollar company before its acquisition by Columbia Capital in June 2012. His career began in product development, business development, and sales, with prior roles at Sendmail, Inc., Lucent Technologies, and Octel Communications, which was acquired by Lucent Technologies. He holds several patents in battery monitoring. Mr. Cotton was appointed President of Aqua Metals in May 2018 and promoted to President and CEO in January 2019. Eric West, Chief Financial Officer Eric West was appointed Chief Financial Officer of Aqua Metals effective May 19, 2025. He previously served as Vice President of Finance at Aqua Metals, Inc. since 2018, guiding the company through various stages of growth, strengthening financial reporting, streamlining internal controls, and enhancing strategic planning initiatives. Prior to joining Aqua Metals, Mr. West held finance leadership positions in the mining and manufacturing industries. He began his career at Grant Thornton LLP, focusing on financial reporting, internal controls, and external audits across various industries. He is a Certified Public Accountant and holds a Master of Accountancy and a Bachelor of Science in Business Administration from the University of Nevada, Reno. Ben Taecker, Chief Engineering and Operating Officer Ben Taecker has over 20 years of experience in manufacturing and operations leadership and has been with Aqua Metals since January 2017. As Chief Engineering and Operating Officer, he is involved in the company's efforts to advance sustainable lithium battery and clean metals recycling. He plays a key role in the technical and operational aspects of Aqua Metals' AquaRefining technology, including its lithium-ion battery recycling pilot facility.AI Analysis | Feedback
Key Risks to Aqua Metals (AQMS)
- Inability to Secure Definitive Project Financing for Commercial Scale: Aqua Metals' entire commercial launch and its transition from a cash-burn model to a revenue-generating one are contingent on securing substantial project financing. While recent capital raises have provided operational runway, they do not cover the significant capital injection needed for the full commercial build-out of its facilities.
- Lack of Revenue Generation and Profitability: The company has historically operated with weak operational liquidity and currently exhibits a lack of revenue growth and profitability, leading to traditional valuation metrics "flashing red flags". This raises concerns about Aqua Metals' ability to effectively commercialize its AquaRefining technology and achieve positive margins.
- Operational and Execution Risks in Scaling Technology: Even if the necessary funding is secured, there remains a significant risk related to the successful development and launch of Aqua Metals' first commercial facility and the realization of expected benefits. This also encompasses challenges in scaling operations and achieving market adoption for its innovative recycling technology.
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The accelerating global transition from lead-acid batteries to lithium-ion and other advanced battery chemistries in key markets such as electric vehicles and grid-scale energy storage threatens the long-term demand for lead-acid batteries. This market shift directly impacts Aqua Metals by potentially reducing the available supply of used lead-acid batteries for recycling and diminishing the overall demand for their recycled lead products, as their core AquaRefining technology is specifically designed for lead-acid battery recycling.
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Aqua Metals (AQMS) operates in the addressable markets of lead-acid battery recycling and lithium-ion battery recycling, with expansion into refining deep-sea critical minerals.
For their main products and services, the addressable markets are as follows:
- Lead-Acid Battery Recycling:
- The global market size was approximately $9.19 billion in 2021, projected to reach $13.28 billion by the end of 2025. Other estimates for the global market include $12.12 billion in 2024, rising to $13.34 billion in 2025 and an estimated $26.45 billion by 2032. Another projection indicates a global market value of $12.1 billion in 2024, expected to reach $28.6 billion by 2034.
- The U.S. market for lead-acid battery recycling is projected to reach an estimated value of $1.58 billion by 2032.
- Lithium-ion Battery Recycling:
- The global market was valued at approximately $5.41 billion in 2024 and is expected to grow to $6.51 billion in 2025, reaching $24.15 billion by 2032. Other estimates for the global market include $10.26 billion in 2024, with a projection to reach around $98.42 billion by 2034. Additionally, the market was valued at $6.93 billion in 2024 and is projected to reach $30.73 billion by 2032.
- The U.S. lithium-ion battery recycling market is projected to grow significantly, reaching an estimated value of $282.03 million by 2032.
- Deep-Sea Critical Minerals Refining (Nickel, Cobalt, Manganese, Rare Earths):
- Aqua Metals is expanding its AquaRefining process to include deep-sea polymetallic nodules for critical minerals such as nickel, cobalt, manganese, and rare earths. This initiative aims to strengthen its position in the "growing multi-billion-dollar critical minerals market." However, a specific addressable market size for Aqua Metals' operations in deep-sea critical minerals refining is not provided in the available information.
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Here are the expected drivers of future revenue growth for Aqua Metals (AQMS) over the next 2-3 years:- Commercialization and Scaling of Lithium-ion Battery Recycling: Aqua Metals is intensely focused on the commercialization of its AquaRefiningâ„¢ technology for lithium-ion battery recycling. The company is progressing with the build-out of its commercial Li AquaRefinery, aiming to process up to 7,000 tonnes of lithium-ion battery material annually. This scaling of operations and successful deployment of their proprietary technology is a primary driver for future revenue.
- Strategic Partnerships and Offtake Agreements: A significant driver of revenue growth is the formation of strategic partnerships and securing offtake agreements for the recycled critical minerals. Aqua Metals has already established a supply agreement with 6K Energy to provide sustainably recycled nickel and lithium carbon, which is expected to ramp up to 30% of 6K's needs. The company continues to engage with potential supply and offtake partners and explore licensing and joint venture business models to leverage its AquaRefining technology. A recent Memorandum of Understanding (MOU) with Impossible Metals further illustrates a strategic alliance to overcome supply chain dependencies.
- Technological Advancements and Product Quality: Continuous improvements in AquaRefiningâ„¢ technology are expected to enhance efficiency, reduce costs, and broaden feedstock options, including new refining processes like sodium sulfate regeneration. The company has achieved technical milestones such as producing lithium carbonate with very low fluorine content (below 30 parts per million), which is considered a best-in-class result globally for recycled lithium, potentially commanding premium pricing and increasing demand.
- Government Support and Favorable Regulatory Environment: Aqua Metals anticipates that government support and evolving policy opportunities in the critical minerals market will contribute to its growth. Stricter regulations on battery recycling could increase demand for environmentally friendly and efficient recycling solutions like AquaRefining, thereby benefiting Aqua Metals. The company is actively working with industry and trade organizations to influence policies that could positively impact its competitiveness.
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Share Issuance
- In October 2025, Aqua Metals raised $13 million in gross proceeds through a registered direct offering to a leading institutional investor, involving 1,133,794 shares of common stock and/or prefunded warrants.
- In May 2024, the company completed an $8.05 million underwritten public offering, which included 20,125,000 shares of common stock and warrants.
- During the third quarter of 2023, Aqua Metals bolstered its financial strength with an equity raise that, combined with a strategic investment and partnership, provided $25 million in gross proceeds.
Inbound Investments
- Aqua Metals received a strategic investment and formed a partnership with Yulho Co., Ltd. in Q3 2023, contributing $25 million in gross proceeds.
- In October 2025, the company secured $13 million in gross proceeds from a leading institutional investor through a registered direct offering.
- A May 2024 public offering was intended to strengthen the balance sheet in support of a proposed $33 million secured credit facility with one of the world's largest privately held companies.
Capital Expenditures
- Proceeds from the October 2025 capital raise are designated to advance site-specific design and engineering plans, and to support permitting and pre-construction activities for the first commercial AquaRefiningâ„¢ Campus (ARC) facility.
- In February 2023, Aqua Metals acquired a five-acre recycling campus at the Tahoe Reno Industrial Center (TRIC), intended to process up to 10,000 tonnes of lithium-ion battery material annually when fully developed.
- An impairment charge of approximately $5.2 million was recorded for its Sierra Arc facility during the first quarter of 2025, and the completion of the Sierra ARC facility remains on hold pending further financing.
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| ARTICLES |
Trade Ideas
Select ideas related to AQMS. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | CNM | Core & Main | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.3% | 18.3% | -1.6% |
| 11212025 | VRRM | Verra Mobility | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.5% | 5.5% | -1.2% |
| 11212025 | LII | Lennox International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | 0.0% |
| 11212025 | ADP | Automatic Data Processing | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.9% | 2.9% | -1.2% |
| 11212025 | CW | Curtiss-Wright | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 5.7% | 5.7% | -0.4% |
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Peer Comparisons for Aqua Metals
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 51.32 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.0% |
| Rev Chg 3Y Avg | 2.6% |
| Rev Chg Q | 9.1% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 17.7% |
| Op Mgn 3Y Avg | 16.4% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 20.6% |
| CFO/Rev 3Y Avg | 21.4% |
| FCF/Rev LTM | 18.1% |
| FCF/Rev 3Y Avg | 18.6% |
Price Behavior
Price Behavior
| Market Price | $4.85 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 07/31/2015 | |
| Distance from 52W High | -83.6% | |
| 50 Days | 200 Days | |
| DMA Price | $7.61 | $8.52 |
| DMA Trend | down | up |
| Distance from DMA | -36.3% | -43.0% |
| 3M | 1YR | |
| Volatility | 469.9% | 1,065.7% |
| Downside Capture | -427.92 | 409.98 |
| Upside Capture | -522.87 | 184.31 |
| Correlation (SPY) | 3.4% | 9.4% |
AQMS Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.58 | 0.19 | 0.32 | 25.21 | 4.90 | 3.04 |
| Up Beta | -0.25 | 11.45 | 10.88 | 93.81 | 7.18 | 5.10 |
| Down Beta | 5.66 | 17.95 | 13.57 | 2.88 | 1.71 | 1.47 |
| Up Capture | -77% | -357% | -207% | 1083% | 303% | 61% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 8 | 16 | 24 | 49 | 91 | 292 |
| Down Capture | 251% | -1503% | -1959% | 369% | 162% | 111% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 11 | 25 | 37 | 74 | 151 | 432 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of AQMS With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| AQMS | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -74.7% | 19.3% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 1,055.4% | 18.8% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | 0.94 | 0.80 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 7.9% | 9.2% | 3.4% | -4.0% | 8.7% | 3.8% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of AQMS With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| AQMS | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -55.2% | 13.8% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 480.5% | 17.2% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.37 | 0.65 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 6.9% | 8.1% | 3.2% | 0.3% | 6.2% | 3.1% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 10-Year Data
| Comparison of AQMS With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| AQMS | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -41.4% | 13.5% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 346.8% | 19.9% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.29 | 0.60 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 8.0% | 9.1% | 2.7% | 2.2% | 7.0% | 3.0% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/12/2025 | -12.0% | -5.4% | -20.5% |
| 8/13/2025 | -5.5% | -12.8% | -13.3% |
| 3/31/2025 | -0.5% | -11.8% | -28.3% |
| 11/14/2024 | -12.6% | -5.2% | 1.0% |
| 8/5/2024 | -36.7% | -31.6% | -31.3% |
| 3/27/2024 | 2.9% | 18.0% | -4.8% |
| 11/8/2023 | 2.1% | 0.0% | -14.7% |
| 8/9/2023 | 4.4% | -0.9% | -6.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 6 | 5 | 5 |
| # Negative | 12 | 13 | 13 |
| Median Positive | 2.0% | 6.0% | 5.7% |
| Median Negative | -6.8% | -9.1% | -16.7% |
| Max Positive | 4.4% | 18.0% | 43.0% |
| Max Negative | -36.7% | -39.2% | -31.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11122025 | 10-Q 9/30/2025 |
| 6302025 | 8132025 | 10-Q 6/30/2025 |
| 3312025 | 5082025 | 10-Q 3/31/2025 |
| 12312024 | 3312025 | 10-K 12/31/2024 |
| 9302024 | 11142024 | 10-Q 9/30/2024 |
| 6302024 | 8142024 | 10-Q 6/30/2024 |
| 3312024 | 5152024 | 10-Q 3/31/2024 |
| 12312023 | 3282024 | 10-K 12/31/2023 |
| 9302023 | 11082023 | 10-Q 9/30/2023 |
| 6302023 | 8092023 | 10-Q 6/30/2023 |
| 3312023 | 5042023 | 10-Q 3/31/2023 |
| 12312022 | 3092023 | 10-K 12/31/2022 |
| 9302022 | 11032022 | 10-Q 9/30/2022 |
| 6302022 | 7212022 | 10-Q 6/30/2022 |
| 3312022 | 4282022 | 10-Q 3/31/2022 |
| 12312021 | 2242022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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