Stock Analysis Report

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Advanced Emissions Solutions

Executive Summary

Advanced Emissions Solutions, Inc., together with its subsidiaries, provides emission reduction technologies and specialty chemicals in the United States. More Details

Snowflake Analysis

Excellent balance sheet and fair value.

Similar Companies

Share Price & News

How has Advanced Emissions Solutions's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: ADES is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: ADES's weekly volatility (10%) has been stable over the past year.

Market Performance

7 Day Return




US Chemicals


US Market

1 Year Return




US Chemicals


US Market

Return vs Industry: ADES underperformed the US Chemicals industry which returned 18.4% over the past year.

Return vs Market: ADES underperformed the US Market which returned 22.7% over the past year.

Shareholder returns

7 Day-8.2%-1.3%0.7%
30 Day17.3%9.8%11.8%
90 Day36.1%9.5%8.6%
1 Year-46.3%-47.3%19.2%16.5%25.0%22.2%
3 Year-19.3%-34.1%24.4%1.2%49.4%39.5%
5 Year35.9%2.9%78.3%34.7%100.2%78.1%

Long-Term Price Volatility Vs. Market

How volatile is Advanced Emissions Solutions's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Advanced Emissions Solutions undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: ADES ($5.35) is trading below our estimate of fair value ($52.05)

Significantly Below Fair Value: ADES is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: ADES is unprofitable, so we can't compare its PE Ratio to the US Chemicals industry average.

PE vs Market: ADES is unprofitable, so we can't compare its PE Ratio to the US market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ADES's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: ADES is good value based on its PB Ratio (1.1x) compared to the US Chemicals industry average (2.3x).

Next Steps

Future Growth

How is Advanced Emissions Solutions forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Materials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Advanced Emissions Solutions has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

Past Performance

How has Advanced Emissions Solutions performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ADES is currently unprofitable.

Growing Profit Margin: ADES is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: ADES is unprofitable, but has reduced losses over the past 5 years at a rate of 0.7% per year.

Accelerating Growth: Unable to compare ADES's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ADES is unprofitable, making it difficult to compare its past year earnings growth to the Chemicals industry (-16.3%).

Return on Equity

High ROE: ADES has a negative Return on Equity (-13.79%), as it is currently unprofitable.

Next Steps

Financial Health

How is Advanced Emissions Solutions's financial position?

Financial Position Analysis

Short Term Liabilities: ADES's short term assets ($56.2M) exceed its short term liabilities ($40.1M).

Long Term Liabilities: ADES's short term assets ($56.2M) exceed its long term liabilities ($31.2M).

Debt to Equity History and Analysis

Debt Level: ADES's debt to equity ratio (23.5%) is considered satisfactory.

Reducing Debt: ADES had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: ADES's debt is well covered by operating cash flow (250.2%).

Interest Coverage: Insufficient data to determine if ADES's interest payments on its debt are well covered by EBIT.

Balance Sheet

Next Steps


What is Advanced Emissions Solutions's current dividend yield, its reliability and sustainability?

Dividend Yield vs Market

Notable Dividend: Unable to evaluate ADES's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ADES's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ADES's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ADES's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: ADES is not paying a notable dividend for the US market.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ADES's dividend in 3 years as they are not forecast to pay a notable one for the US market.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Greg Marken (38 yo)





Mr. Greg P. Marken has been Interim President and Interim Chief Executive Officer at Advanced Emissions Solutions, Inc. since July 1, 2020. Mr. Marken has been Chief Financial Officer at Advanced Emissions...

CEO Compensation Analysis

Compensation vs Market: Greg's total compensation ($USD590.38K) is about average for companies of similar size in the US market ($USD561.50K).

Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.

Leadership Team

Greg Marken
$ 320.9k
Joseph Wong
Chief Product Officerno dataUS$554.09k0.12%
$ 118.6k
Christine Bellino
Chief Accounting Officer & Principal Financial Officer0.42yrno datano data
Ted Sanders
General Counsel & Secretary3.83yrsUS$494.20k0.23%
$ 218.4k
Lorraine Lang
Vice President of Human Resources1.67yrsno datano data


Average Tenure


Average Age

Experienced Management: ADES's management team is not considered experienced ( 1 years average tenure), which suggests a new team.

Board Members

J. Simonton
Independent Director6.58yrsUS$175.34k0.23%
$ 217.9k
Carol Eicher
Independent Director1.67yrsUS$127.61k0.11%
$ 105.5k
Brian Leen
Independent Director1.83yrsUS$162.73k0.11%
$ 105.5k
R. Pate
Independent Director4.5yrsUS$173.06k0.19%
$ 185.5k
Louis Wells
Independent Chairman of the Board4.67yrsUS$210.56k0.23%
$ 217.7k
Gilbert Li
Independent Director4.5yrsUS$160.17kno data


Average Tenure


Average Age

Experienced Board: ADES's board of directors are considered experienced (4.5 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Advanced Emissions Solutions, Inc.'s company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Advanced Emissions Solutions, Inc.
  • Ticker: ADES
  • Exchange: NasdaqGM
  • Founded: 1996
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Market Cap: US$96.716m
  • Shares outstanding: 18.08m
  • Website:

Number of Employees


  • Advanced Emissions Solutions, Inc.
  • 8051 E. Maplewood Avenue
  • Suite 210
  • Greenwood Village
  • Colorado
  • 80111
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ADESNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDOct 2003
OXQ1DB (Deutsche Boerse AG)YesCommon StockDEEUROct 2003


Advanced Emissions Solutions, Inc., together with its subsidiaries, provides emission reduction technologies and specialty chemicals in the United States. It operates through two segments, Refined Coal; an...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/02 23:17
End of Day Share Price2020/12/02 00:00
Annual Earnings2019/12/31

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.