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Aqua Metals

DB:AQK
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AQK
DB
$114M
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

Aqua Metals, Inc. engages in the recycling of lead primarily in the United States. The last earnings update was 52 days ago. More info.


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  • Aqua Metals has significant price volatility in the past 3 months.
AQK Share Price and Events
7 Day Returns
-10.7%
DB:AQK
1.5%
DE Commercial Services
1.8%
DE Market
1 Year Returns
17.3%
DB:AQK
-8.1%
DE Commercial Services
-6%
DE Market
AQK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aqua Metals (AQK) -10.7% -21.6% 27.1% 17.3% - -
DE Commercial Services 1.5% 1.7% 10.8% -8.1% 1.3% -41%
DE Market 1.8% 4.6% 7.4% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • AQK outperformed the Commercial Services industry which returned -8.1% over the past year.
  • AQK outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
AQK
Industry
5yr Volatility vs Market

Value

 Is Aqua Metals undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Aqua Metals to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Aqua Metals.

DB:AQK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:AQK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 21%) (11.63%))
0.868
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.87
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.868 * 5.96%)
5.4%

Discounted Cash Flow Calculation for DB:AQK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aqua Metals is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:AQK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.4%)
2019 -24.00 Analyst x1 -22.77
2020 -1.19 Analyst x1 -1.07
2021 18.80 Analyst x1 16.06
2022 32.70 Analyst x1 26.50
2023 45.09 Est @ 37.88% 34.66
2024 57.07 Est @ 26.58% 41.63
2025 67.73 Est @ 18.68% 46.88
2026 76.63 Est @ 13.14% 50.32
2027 83.74 Est @ 9.27% 52.17
2028 89.23 Est @ 6.56% 52.74
Present value of next 10 years cash flows $297.11
DB:AQK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $89.23 × (1 + 0.23%) ÷ (5.4% – 0.23%)
$1,729.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,729.55 ÷ (1 + 5.4%)10
$1,022.30
DB:AQK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $297.11 + $1,022.30
$1,319.42
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,319.42 / 44.74
$29.49
DB:AQK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AQK represents 0.90079x of NasdaqCM:AQMS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90079x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 29.49 x 0.90079
€26.57
Value per share (EUR) From above. €26.57
Current discount Discount to share price of €2.29
= -1 x (€2.29 - €26.57) / €26.57
91.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Aqua Metals is available for.
Intrinsic value
>50%
Share price is €2.29 vs Future cash flow value of €26.57
Current Discount Checks
For Aqua Metals to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Aqua Metals's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Aqua Metals's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Aqua Metals's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aqua Metals's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AQK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-1.18
NasdaqCM:AQMS Share Price ** NasdaqCM (2019-04-18) in USD $2.54
Europe Commercial Services Industry PE Ratio Median Figure of 105 Publicly-Listed Commercial Services Companies 16.52x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Aqua Metals.

DB:AQK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:AQMS Share Price ÷ EPS (both in USD)

= 2.54 ÷ -1.18

-2.16x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aqua Metals is loss making, we can't compare its value to the Europe Commercial Services industry average.
  • Aqua Metals is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Aqua Metals's expected growth come at a high price?
Raw Data
DB:AQK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.16x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
99.7%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 54 Publicly-Listed Commercial Services Companies 1.39x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Aqua Metals, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Aqua Metals's assets?
Raw Data
DB:AQK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $1.29
NasdaqCM:AQMS Share Price * NasdaqCM (2019-04-18) in USD $2.54
Germany Commercial Services Industry PB Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 2.03x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:AQK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:AQMS Share Price ÷ Book Value per Share (both in USD)

= 2.54 ÷ 1.29

1.97x

* Primary Listing of Aqua Metals.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aqua Metals is good value based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess Aqua Metals's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Aqua Metals has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Aqua Metals expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
99.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aqua Metals expected to grow at an attractive rate?
  • Aqua Metals's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Aqua Metals's earnings growth is expected to exceed the Germany market average.
  • Aqua Metals's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AQK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AQK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 99.7%
DB:AQK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 54.4%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 31.2%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:AQK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AQK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 126 1
2021-12-31 107 67 40 2
2020-12-31 50 27 1 3
2019-12-31 15 -2 -18 3
DB:AQK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 4 -26 -40
2018-09-30 4 -25 -34
2018-06-30 4 -22 -31
2018-03-31 4 -21 -29
2017-12-31 2 -19 -27
2017-09-30 1 -19 -24
2017-06-30 1 -17 -22
2017-03-31 -14 -16
2016-12-31 -11 -14
2016-09-30 -5 -11
2016-06-30 -3 -10
2016-03-31 -2 -10

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aqua Metals's earnings are expected to grow significantly at over 20% yearly.
  • Aqua Metals's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:AQK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Aqua Metals Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AQK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.84 0.84 0.84 1.00
2020-12-31 0.02 0.02 0.01 2.00
2019-12-31 -0.43 -0.41 -0.45 2.00
DB:AQK Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -1.18
2018-09-30 -1.13
2018-06-30 -1.21
2018-03-31 -1.30
2017-12-31 -1.31
2017-09-30 -1.29
2017-06-30 -1.23
2017-03-31 -0.99
2016-12-31 -0.89
2016-09-30 -0.75
2016-06-30 -0.71
2016-03-31 -0.89

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Aqua Metals will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Aqua Metals's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Aqua Metals has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Aqua Metals performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Aqua Metals's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Aqua Metals does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Aqua Metals's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Aqua Metals's 1-year growth to the Europe Commercial Services industry average as it is not currently profitable.
Earnings and Revenue History
Aqua Metals's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Aqua Metals Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AQK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 4.45 -40.25 11.61 4.50
2018-09-30 4.27 -33.75 8.96 5.21
2018-06-30 3.69 -30.78 8.71 5.61
2018-03-31 3.81 -29.22 7.14 6.59
2017-12-31 2.09 -26.58 6.89 8.10
2017-09-30 1.19 -24.48 7.06 8.81
2017-06-30 0.60 -21.71 6.57 9.33
2017-03-31 -16.28 5.76 9.34
2016-12-31 -13.56 6.61 6.35
2016-09-30 -10.99 6.63 4.08
2016-06-30 -9.56 6.52 2.19
2016-03-31 -9.61 6.94
2015-12-31 -12.33 3.17 2.28
2014-12-31 -4.75 2.81

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Aqua Metals has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Aqua Metals has efficiently used its assets last year compared to the Europe Commercial Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Aqua Metals improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Aqua Metals's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Aqua Metals has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Aqua Metals's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Aqua Metals's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aqua Metals is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Aqua Metals's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Aqua Metals's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Aqua Metals Company Filings, last reported 3 months ago.

DB:AQK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 50.09 13.22 20.89
2018-09-30 62.85 12.02 28.77
2018-06-30 71.75 11.33 36.76
2018-03-31 53.68 10.89 17.50
2017-12-31 58.97 10.58 22.79
2017-09-30 51.74 10.34 17.52
2017-06-30 56.98 10.15 22.11
2017-03-31 62.91 9.99 30.11
2016-12-31 56.99 9.85 25.46
2016-09-30 40.22 9.54 15.41
2016-06-30 43.46 9.46 22.55
2016-03-31 31.71 9.37 15.24
2015-12-31 33.67 9.27 20.14
2014-12-31 -0.77 5.09 4.54
  • Aqua Metals's level of debt (26.4%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Aqua Metals's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Aqua Metals has less than a year of cash runway based on current free cash flow.
  • Aqua Metals has less than a year of cash runway if free cash flow continues to grow at historical rates of 8.4% each year.
X
Financial health checks
We assess Aqua Metals's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Aqua Metals has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Aqua Metals's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Aqua Metals dividends.
If you bought €2,000 of Aqua Metals shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Aqua Metals's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Aqua Metals's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:AQK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:AQK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Aqua Metals has not reported any payouts.
  • Unable to verify if Aqua Metals's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Aqua Metals's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Aqua Metals has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Aqua Metals's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Aqua Metals afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aqua Metals has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Aqua Metals's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve Cotton
COMPENSATION $1,948,000
AGE 52
TENURE AS CEO 0.3 years
CEO Bio

Mr. Stephen Cotton, also known as Steve, has been Chief Executive Officer and Director of Aqua Metals, Inc. since January 7, 2019 and its President since May 02, 2018. Mr. Cotton founded IntelliBatt, LLC in 1992 and serves as its Executive Chairman. Mr. Cotton was Consultant of Aqua Metals, Inc. since June 9, 2017 until December 31, 2017. Mr. Cotton served as the Chief Commercial Officer of Aqua Metals, Inc. from January 2015 to June 9, 2017. Mr. Cotton co-founded Canara, Inc. in December 2001 and served as its chief executive officer until June 2012, after which he served as executive chairman until April 2014. He co-founded and served as Chief Executive Officer of Data Power Monitoring Corporation. He has 15 years of experience in building successful cross-functional teams in the technology industry. Previously, he held roles in Sales & Marketing and General Management of Octel Communications, Lucent Technologies, Sendmail Incorporated and BlueKite. He is the co-founder at the Northern California 7x24 Exchange Chapter. From April 2014 to January 2015 and June 9, 2017 to the present, Mr. Cotton managed his private investments. Mr. Cotton earned a Bachelor of Science in Information Technology and Telecommunications from California State University, Chico.

CEO Compensation
  • Steve's compensation has increased whilst company is loss making.
  • Steve's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Aqua Metals management team in years:

0.8
Average Tenure
49.5
Average Age
  • The average tenure for the Aqua Metals management team is less than 2 years, this suggests a new team.
Management Team

Steve Cotton

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
52
TENURE
0.3 yrs

Judd Merrill

TITLE
CFO & Company Secretary
COMPENSATION
$413K
AGE
47
TENURE
0.4 yrs

Steve Clarke

TITLE
Consultant
COMPENSATION
$400K
AGE
61
TENURE
1 yrs

Ben Taecker

TITLE
Vice President of Operations
TENURE
1.3 yrs

David Regan

TITLE
Director Marketing

Terri Bradfield

TITLE
Vice President of Human Resources
TENURE
0.7 yrs

Kimberly Setliff

TITLE
Senior Vice President

Kathleen Dotson

TITLE
VP of Finance & Corporate Controller

Mark Weinswig

TITLE
Consultant
COMPENSATION
$827K
AGE
45
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the Aqua Metals board of directors in years:

0.9
Average Tenure
58
Average Age
  • The average tenure for the Aqua Metals board of directors is less than 3 years, this suggests a new board.
Board of Directors

S. Yosufzai

TITLE
Non-Executive Chairman & Lead Independent Director
COMPENSATION
$198K
AGE
65
TENURE
0.9 yrs

Steve Cotton

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
52
TENURE
0.3 yrs

Vincent DiVito

TITLE
Independent Director
COMPENSATION
$186K
AGE
58
TENURE
3.9 yrs

Mark Stevenson

TITLE
Independent Director
COMPENSATION
$232K
AGE
56
TENURE
2.3 yrs

Sam Kapoor

TITLE
Independent Director
COMPENSATION
$137K
AGE
71
TENURE
0.9 yrs

Thomas Murphy

TITLE
Co-Founder & Director
COMPENSATION
$466K
AGE
66
TENURE
0.8 yrs

Gayle Gibson

TITLE
Independent Director
AGE
57
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Aqua Metals insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
08. Mar 19 Buy Gayle Gibson Individual 07. Mar 19 07. Mar 19 7,782 €3.52 €27,382
22. Jan 19 Buy Eric Proudy Individual 17. Jan 19 17. Jan 19 5,000 €1.67 €8,344
22. Jan 19 Buy Vincent DiVito Individual 17. Jan 19 17. Jan 19 5,000 €1.67 €8,344
22. Jan 19 Buy S. Yosufzai Individual 17. Jan 19 17. Jan 19 10,000 €1.67 €16,688
22. Jan 19 Buy Judd Merrill Individual 17. Jan 19 17. Jan 19 5,000 €1.67 €8,344
22. Jan 19 Buy Stephen Cotton Individual 17. Jan 19 17. Jan 19 15,000 €1.67 €25,032
20. Aug 18 Buy Kanen Wealth Management Llc Company 20. Jul 18 17. Aug 18 526,745 €2.17 €1,138,379
13. Aug 18 Buy Stephen Cotton Individual 13. Aug 18 13. Aug 18 6,400 €2.19 €13,991
21. Jun 18 Sell Kanen Wealth Management Llc Company 03. May 18 31. May 18 -66,323 €3.54 €-211,337
21. Jun 18 Buy Kanen Wealth Management Llc Company 04. May 18 18. Jun 18 482,983 €3.31 €1,384,803
22. Jun 18 Buy Kanen Wealth Management Llc Company 04. May 18 04. May 18 26,983 €3.22 €86,996
18. Jun 18 Buy Francis Knuettel Individual 18. Jun 18 18. Jun 18 5,000 €2.45 €12,268
18. Jun 18 Buy Francis Knuettel Individual 15. Jun 18 15. Jun 18 2,500 €2.87 €7,177
18. Jun 18 Buy Sushil Kapoor Individual 18. Jun 18 18. Jun 18 15,000 €2.45 €36,803
18. Jun 18 Buy S. Yosufzai Individual 18. Jun 18 18. Jun 18 5,260 €2.45 €12,906
18. Jun 18 Buy Mark Slade Individual 18. Jun 18 18. Jun 18 10,525 €2.45 €25,824
18. Jun 18 Buy Vincent DiVito Individual 18. Jun 18 18. Jun 18 3,505 €2.45 €8,600
18. Jun 18 Buy Eric Proudy Individual 18. Jun 18 18. Jun 18 5,000 €2.45 €12,268
18. Jun 18 Buy Stephen Cotton Individual 18. Jun 18 18. Jun 18 30,000 €2.45 €73,607
X
Management checks
We assess Aqua Metals's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Aqua Metals has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Aqua Metals, Inc. engages in the recycling of lead primarily in the United States. It produces and sells hard lead, lead compounds, and plastics. The company was founded in 2014 and is headquartered in McCarran, Nevada.

Details
Name: Aqua Metals, Inc.
AQK
Exchange: DB
Founded: 2014
$101,047,356
44,739,568
Website: http://www.aquametals.com
Address: Aqua Metals, Inc.
2500 Peru Drive,
McCarran,
Nevada, 89437,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM AQMS Common Stock Nasdaq Capital Market US USD 31. Jul 2015
DB AQK Common Stock Deutsche Boerse AG DE EUR 31. Jul 2015
LSE 0HH6 Common Stock London Stock Exchange GB USD 31. Jul 2015
Number of employees
Current staff
Staff numbers
76
Aqua Metals employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 21:53
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.