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Aquestive Therapeutics Inc (AQST) fair value: what the stock is really worth

We calculate from audited financials what Aquestive Therapeutics Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jun 23, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.

Fair value above price? No
Good quality? No
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Healthcare · US · ISIN US03843E1047

Thin data Jun 23, 2026

Aquestive Therapeutics Inc

AQST · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $1.05 · Strongly overvalued (−78%)

!Quality 11/100

!Weak Growth (revenue 5y −0.6 %/yr)

!Loss-making · -137.1% net margin (TTM)

!Negative equity (buybacks among others) · negative free cash flow

!Trails peers (1/7)

!Narrow moat 10/100

!Evidence only low, so the estimate is less certain

26 models, one by oneBear $0.7905 to bull $1.32 Growth analysisrevenue history, year by year Quality 11/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range $0.6300 – $7.49 · fair‑value band $0.7905 – $1.32 · the $4.70 price screens above the $1.05 fair value. 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Jun 23, 2026.

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Company profile

Aquestive Therapeutics, Inc. operates as a pharmaceutical company in the United States and internationally.

Aquestive Therapeutics, Inc. operates as a pharmaceutical company in the United States and internationally. It offers Libervant, a buccal soluble film formulation of diazepam for the treatment of seizures; Suboxone, a sublingual film formulation of buprenorphine and naloxone for the treatment of opioid dependence; EMYLIF, an oral film formulation of riluzole; ONDIF, an oral soluble film formulation of ondansetron; SYMPAZAN, an oral soluble film formulation of clobazam used for the treatment of seizures associated with a rare, intractable form of epilepsy; KYNMOBI, a sublingual film formulation of apomorphine; and AZSTARYS, an fda-approved, once-daily product for the treatment of ADHD in patients age 6 years or older. The company's proprietary pipeline products include Anaphylm, an epinephrine sublingual film, which is in phase 3 clinical trial for the emergency treatment of allergic reactions, including anaphylaxis; and AQST-108, a topical gel that is in phase 2 clinical trial for the treatment of alopecia areata. In addition, it develops PharmFilm technology for patients suffering from certain central nervous system disorders; and Adrenaverse, an epinephrine prodrug platform. The company was incorporated in 2004 and is headquartered in Warren, New Jersey.

Stock analysis

Aquestive Therapeutics Inc (AQST) currently trades at $4.70, while our model-based Fair Value estimate is $1.05, implying the stock looks roughly 345.8% overvalued today.

Valuation

How firm this estimate is: it rests on 5 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $0.7905 (bear) to $1.32 (bull), the price of $4.70 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 11/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Aquestive Therapeutics Inc reported revenue of $44.5M in FY2025 versus $50.8M in FY2021, a compound −3.2%/yr. Reported net income was −$83.8M in FY2025.

Key figures

Market cap $573M · P/S ratio 11.1 · EPS (TTM) $−0.6100 · Net margin −137% · Return on assets (EBIT) −45.9% · Operating margin −29.1% · Revenue (TTM) $50.3M · Revenue growth (YoY) +65.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 37% below its 52-week high and 59% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −78%, AQST screens richer than that median.

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Quality Score breakdown

Overall quality 11/100

Of which business quality 15 · Market factors (momentum, volatility) 32

Profitability 11

Margins and returns on capital today

Quality Growth 0

Are margins and returns improving?

Cashflow 3

Earnings quality: real cash, not paper profit

Fin. Strength 33

Balance sheet, leverage, solvency risk

Investment 50

Disciplined investing over empire-building

Low Volatility 13

Calm price path (market factor)

Momentum 44

Price trend over the last 3–12 months (market factor)

52W Momentum 31

Distance to the 52-week high (market factor)

Net Issuance 0

Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100

Revenue is shrinking: the last year, the last three and the last five years are all negative.

Revenue growth 1 year

−22.6%

Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

−2.2%

Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

−0.6%

Start year 2020 (pandemic)

Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+16.4%

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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.

−93.6% (2020) → −156.4% (2025)

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss

not computed

AQST screens 346% overvalued. Compare with Merck KGaA →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - Specialty & Generic · 626 stocks

Beats the industry median on 1/7 measures

Overall it trails its industry peers.

Valuation

Quality Score 11 · Bottom 25%

Fair Value upside −78% · Bottom 25%

Profitability

Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Return on assets −29% · Bottom 25%

Net margin (TTM) −137% · Bottom 25%

Operating margin (TTM) −29% · Bottom 25%

Growth and dividend

Revenue growth 66% · Top 25%

Balance sheet

Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

P/S (TTM) 11.40× · Priciest 25%

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)0 · sector 14

FUTURE (revenue growth)100 · sector 21

PAST (return on equity)0 · sector 27

HEALTH (low debt)0 · sector 96

DIVIDEND (yield)0 · sector 32

VALUE 0: the price sits above our fair-value range.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value
Merck KGaA MRK	€133.15	€108.70	−18%
Takeda Pharmaceutical Company TAK	$18.95	$11.29	−40%
Jiangsu Hengrui Pharmaceuticals Co 600276	¥45.58	¥50.14	+10%
Sun Pharmaceutical Industries Limited SUNPHARMA	₹1,865	₹1,979	+6%
Galderma Group GALD	CHF 163.80	CHF 109.88	−33%
Haleon plc HLN	$9.25	$8.50	−8%
Teva Pharmaceutical Industries Limited TEVA	$39.52	$20.75	−47%
Sandoz Group SDZ	CHF 70.76	CHF 40.16	−43%
Zoetis Inc ZTS	$72.86	$108.48	+49%
Hansoh Pharmaceutical Group 3692	HK$35.34	HK$38.87	+10%

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Aquestive Therapeutics Inc · Fair Value
$1.05 −346%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/AQST" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Aquestive Therapeutics Inc · Fair Value</span><br><b style="font-size:20px">$1.05</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−346%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Aquestive Therapeutics Inc Fair Value". https://www.fairvalue-calculator.com/stock/AQST

Frequently asked questions

Is Aquestive Therapeutics Inc (AQST) overvalued or undervalued?

As of Jun 23, 2026, our model estimates a fair value of $1.05 versus a price of $4.70, about −78% upside (overvalued).

What is the fair value of AQST?

Our model-based fair value for Aquestive Therapeutics Inc is $1.05 (as of Jun 23, 2026), built from audited fundamentals. The current price: $4.70.

What is the quality score of AQST?

Aquestive Therapeutics Inc has a Quality Score of 11/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.

What is the price target for Aquestive Therapeutics Inc (AQST)?

Our model-based price target is the fair value of $1.05 (as of Jun 23, 2026) from 5 valuation models. Cautious scenario $0.7905, optimistic scenario $1.32. It is a calculation from audited fundamentals, not an analyst target.

What is the Aquestive Therapeutics Inc stock forecast for 2026?

Our models put fair value at $1.05, about −78% upside versus a price of $4.70 (overvalued). Cautious scenario $0.7905, optimistic scenario $1.32. The calculation is refreshed regularly with new filings.

What is the revenue of Aquestive Therapeutics Inc (AQST)?

Aquestive Therapeutics Inc reported trailing-twelve-month revenue of about $50.3M (latest available figure, as of Jun 23, 2026).

What is the intrinsic value of Aquestive Therapeutics Inc (AQST)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aquestive Therapeutics Inc it is $1.05 per share (as of Jun 23, 2026), against a price of $4.70. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).

Is Aquestive Therapeutics Inc stock overvalued or undervalued in 2026?

As of Jun 23, 2026, AQST trades above its calculated fair value: price $4.70, fair value $1.05, a gap of about −78% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.

Is fair value the same as the market price of AQST?

No. The price is what the market pays today ($4.70); the fair value is what the company's own numbers justify ($1.05). For Aquestive Therapeutics Inc the two are $3.65 per share apart. That gap is exactly why we show both numbers side by side.

How much is Aquestive Therapeutics Inc worth?

The market values Aquestive Therapeutics Inc at about $573M (market capitalisation, as of Jun 23, 2026). Per share that is $4.70; our models calculate a fair value of $1.05 per share.

What do the bullish and bearish scenarios say about AQST?

Our models span a range for Aquestive Therapeutics Inc: cautious scenario $0.7905, base $1.05, optimistic $1.32 per share (as of Jun 23, 2026, price $4.70). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of Aquestive Therapeutics Inc (AQST)?

Balance-sheet figures for Aquestive Therapeutics Inc (as of Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 11/100, which measures business quality independently of the share price.

How far is AQST from its 52-week high?

Aquestive Therapeutics Inc trades at $4.70, about 37% below its 52-week high of $7.49 and 59% above the low of $2.95 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $1.05 is for.

Which stocks are comparable to Aquestive Therapeutics Inc?

From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.

Is Aquestive Therapeutics Inc stock attractive at the current price?

The data as of Jun 23, 2026: price $4.70, calculated fair value $1.05 (−78%), Quality Score 11/100, from 5 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

How is the fair value of AQST calculated?

We run Aquestive Therapeutics Inc through 5 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.05, with the spread shown as a cautious and an optimistic scenario.

Is it still worth investing in stocks now?

The global stock market currently sits 14.1 % above its aggregate fair value. Aquestive Therapeutics Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.

What is the share price of Aquestive Therapeutics Inc (AQST)?

The closing price on Sep 23, 2026 was $4.70. Our model-based fair value is $1.05, about −78% upside (overvalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with Aquestive Therapeutics Inc right now?

The price sits above even our optimistic bull case ($1.32). The favourable scenario is already priced in. Weak quality (11/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Aquestive Therapeutics Inc

How large is the market capitalisation of Aquestive Therapeutics Inc (AQST)?

The market capitalisation of Aquestive Therapeutics Inc is $573M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.

What is the P/S ratio of Aquestive Therapeutics Inc (AQST)?

The price-to-sales ratio of Aquestive Therapeutics Inc is 11.1 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What are the earnings per share of Aquestive Therapeutics Inc (AQST)?

Earnings per share at Aquestive Therapeutics Inc are $−0.6100. Earnings per share over the last twelve months: total profit spread across every single share.

What is the net margin of Aquestive Therapeutics Inc (AQST)?

The net margin of Aquestive Therapeutics Inc is −137% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.

What is the EBIT return on assets of Aquestive Therapeutics Inc (AQST)?

On an EBIT basis the return on assets of Aquestive Therapeutics Inc is −45.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.

What is the operating margin of Aquestive Therapeutics Inc (AQST)?

The operating margin of Aquestive Therapeutics Inc is −29.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at Aquestive Therapeutics Inc (AQST)?

Revenue at Aquestive Therapeutics Inc is growing +65.7% versus a year earlier (3y avg −2.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How much free cash flow does Aquestive Therapeutics Inc (AQST) generate?

The free cash flow of Aquestive Therapeutics Inc is −$53.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net debt does Aquestive Therapeutics Inc (AQST) carry?

The net debt of Aquestive Therapeutics Inc is $10.3M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.

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