Arq, Inc. (ARQ) Key Metrics
ARQ valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $78.2M
- Enterprise value
- $125.4M
- P/E (TTM)
- — 10-yr median 6.8
- Forward P/E
- 65.8
- PEG ratio
- 11.75
- Price / sales
- 0.6 10-yr median 2.2
- Price / book
- 0.5 10-yr median 1.4
- EV / EBITDA
- 30.3 10-yr median 5.0
- Dividend yield
- —
- Beta
- 2.87
ARQ key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsARQ valuation Price multiples at each fiscal year-end price.
Price / sales+27.2%
2.5
FY2025 · hover or tap a bar for each year
FY2016FY2025
Price / book+81.7%
1.8
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow yield+31.6 pts
−3.7%
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARQ returns How much profit the business earns on the capital it uses.
Return on equity−24.7 pts
−27.3%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Return on invested capital−2.2 pts
−2.9%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Return on assets−18.5 pts
−20.4%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow margin+59.4 pts
−9.2%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Asset turnover+11.5%
0.47
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARQ per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−4.1%
$2.90
FY2025 · hover or tap a bar for each year
FY2016FY2025
Earnings per share
−$1.27
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow per share
−$0.27
FY2025 · hover or tap a bar for each year
FY2016FY2025
Book value per share−32.9%
$4.05
FY2025 · hover or tap a bar for each year
FY2016FY2025
Shares outstanding+15.2%
41.5M
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARQ financial health Debt, liquidity and how easily interest is covered.
Debt / equity+40.8%
0.22
FY2025 · hover or tap a bar for each year
FY2016FY2025
Net debt+$10.0M
$30.8M
FY2025 · hover or tap a bar for each year
FY2016FY2025
Current ratio−11.6%
1.04
FY2025 · hover or tap a bar for each year
FY2016FY2025
Interest coverage
-3.3
FY2025 · hover or tap a bar for each year
FY2016FY2025
Debt / assets+34.2%
0.16
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARQ efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−7 days
45 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Days of inventory−28 days
74 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Days payables outstanding−17 days
76 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Cash conversion cycle−18 days
43 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Capex / revenue−71.0 pts
7.1%
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARQ valuation history
Fiscal year-endToday10-year median
ARQ returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARQ debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARQ cash returned to shareholders
DividendsBuybacksFree cash flow
ARQ price vs earnings per share
Share price at year-endEPS (right axis)
ARQ key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $297.3M | $211.6M | $51.8M | $50.4M | $118.0M | $73.3M | $272.6M | $239.6M | $234.9M | $167.2M |
| Enterprise value | $328.1M | $232.5M | $38.2M | −$3.6M | $49.7M | $74.2M | $310.1M | $295.1M | $204.4M | $140.5M |
| P/E ratio | — | — | — | — | 2.0 | — | 7.7 | 6.8 | 8.4 | 1.7 |
| Price / sales | 2.5 | 1.9 | 0.5 | 0.5 | 1.2 | 1.1 | 3.9 | 10.0 | 5.2 | 3.3 |
| Price / book | 1.8 | 1.0 | 0.3 | 0.4 | 0.8 | 0.9 | 2.5 | 3.5 | 3.2 | 2.2 |
| Price / free cash flow | — | — | — | — | 6.0 | 1.5 | 5.0 | 6.5 | 6.4 | 8.5 |
| Price / operating cash flow | — | 20.2 | — | — | 4.5 | 1.4 | 4.4 | 6.4 | 6.3 | 8.4 |
| EV / sales | 2.7 | 2.1 | 0.4 | -0.0 | 0.5 | 1.1 | 4.4 | 12.3 | 4.5 | 2.8 |
| EV / EBITDA | — | 35.3 | 26.1 | — | 0.6 | — | 5.0 | 6.1 | 3.7 | 3.3 |
| EV / free cash flow | — | — | — | — | 2.5 | 1.6 | 5.7 | 8.0 | 5.6 | 7.1 |
| Earnings yield | −17.7% | −2.4% | −23.6% | −17.7% | 51.2% | −27.7% | 13.0% | 14.8% | 11.9% | 58.4% |
| Free cash flow yield | −3.7% | −35.3% | −85.3% | −29.7% | 16.8% | 64.7% | 20.0% | 15.4% | 15.6% | 11.8% |
| Dividend yield | — | — | 0.0% | 0.1% | 0.1% | 6.8% | 6.7% | 8.4% | 6.7% | — |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.5% | 0.4% | 0.9% | 0.3% | 7.7% | 9.0% | 19.3% | 13.9% | 0.1% |
| Share price at fiscal year-end | $7.16 | $5.87 | $1.78 | $2.73 | $6.39 | $4.06 | $14.84 | $11.96 | $10.97 | $7.52 |
| Per share | ||||||||||
| Revenue per share | $2.90 | $3.02 | $3.41 | $5.58 | $5.43 | $3.73 | $3.81 | $1.20 | $2.12 | $2.28 |
| Earnings per share | −$1.27 | −$0.14 | −$0.42 | −$0.48 | $3.27 | −$1.13 | $1.93 | $1.77 | $1.30 | $4.39 |
| Operating cash flow per share | −$0.06 | $0.29 | −$0.57 | −$0.33 | $1.41 | $3.00 | $3.39 | $1.86 | $1.73 | $0.90 |
| Free cash flow per share | −$0.27 | −$2.07 | −$1.52 | −$0.81 | $1.07 | $2.62 | $2.96 | $1.84 | $1.71 | $0.89 |
| Cash per share | $0.16 | $0.37 | $1.56 | $3.60 | $4.27 | $1.44 | $0.66 | $0.93 | $1.43 | $1.21 |
| Book value per share | $4.05 | $6.03 | $6.13 | $7.59 | $7.98 | $4.72 | $5.89 | $3.39 | $3.43 | $3.43 |
| Tangible book value per share | $4.03 | $5.82 | $5.86 | $7.54 | $7.91 | $4.61 | $5.67 | $3.15 | $3.39 | $3.39 |
| Dividends per share | — | — | $0.00 | $0.00 | $0.01 | $0.28 | $0.99 | $1.01 | $0.73 | — |
| Capex per share | $0.21 | $2.36 | $0.95 | $0.48 | $0.34 | $0.37 | $0.43 | $0.02 | $0.02 | $0.01 |
| Debt per share | $0.90 | $0.95 | $1.09 | $0.67 | $0.57 | $1.49 | $2.70 | $3.70 | $0.01 | $0.01 |
| Shares outstanding | 41.5M | 36.1M | 29.1M | 18.5M | 18.5M | 18.0M | 18.4M | 20.0M | 21.4M | 22.2M |
| Change in shares outstanding | +15.2% | +23.9% | +57.7% | −0.0% | +2.3% | −1.8% | −8.3% | −6.4% | −3.7% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −27.3% | −2.6% | −7.7% | −6.2% | 52.0% | −21.0% | 40.3% | 50.1% | 37.3% | 128.2% |
| Return on invested capital (ROIC) | −2.9% | −0.8% | −8.4% | −11.6% | 4.7% | −27.9% | −8.3% | −5.9% | −4.8% | −32.5% |
| Return on assets (ROA) | −20.4% | −2.0% | −5.9% | −4.9% | 36.4% | −12.7% | 20.8% | 28.3% | 29.3% | 90.9% |
| Return on tangible assets | −22.9% | −1.8% | −5.4% | −4.9% | 32.8% | −14.0% | 20.9% | 21.7% | 34.0% | 91.4% |
| Free cash flow margin | −9.2% | −68.6% | −44.5% | −14.5% | 19.7% | 70.3% | 77.6% | 153.8% | 80.9% | 38.9% |
| Income quality (OCF / net income) | — | — | — | — | 0.43 | — | 1.75 | 1.05 | 1.33 | 0.20 |
| Financial health | ||||||||||
| Total debt | $37.4M | $34.4M | $31.7M | $12.4M | $10.5M | $26.9M | $49.6M | $74.1M | $207,000 | $244,001 |
| Cash & short-term investments | $6.6M | $13.5M | $45.4M | $66.4M | $78.8M | $25.9M | $12.1M | $18.6M | $30.7M | $26.9M |
| Net debt | $30.8M | $20.8M | −$13.6M | −$54.0M | −$68.3M | $946,000 | $37.5M | $55.5M | −$30.5M | −$26.7M |
| Debt / equity | 0.22 | 0.16 | 0.18 | 0.09 | 0.07 | 0.32 | 0.46 | 1.09 | 0.00 | 0.00 |
| Debt / assets | 0.16 | 0.12 | 0.13 | 0.07 | 0.06 | 0.18 | 0.29 | 0.44 | 0.00 | 0.00 |
| Net debt / EBITDA | — | 3.17 | −9.32 | — | −0.80 | — | 0.60 | 1.14 | −0.55 | −0.62 |
| Current ratio | 1.04 | 1.17 | 3.75 | 4.42 | 4.79 | 1.46 | 1.20 | 1.47 | 5.36 | 1.64 |
| Quick ratio | 0.66 | 0.74 | 2.90 | 3.68 | 4.44 | 1.22 | 0.80 | 0.93 | 5.35 | 1.64 |
| Interest coverage | -3.3 | -0.6 | -4.4 | -35.9 | 3.3 | -10.5 | -2.1 | -3.0 | -1.4 | -3.2 |
| Working capital | $1.6M | $7.7M | $63.4M | $81.8M | $85.7M | $19.4M | $7.7M | $19.1M | $30.0M | $15.2M |
| Invested capital | $198.8M | $238.1M | $164.8M | $86.0M | $79.0M | $86.2M | $145.8M | $123.5M | $43.0M | $49.5M |
| Tangible asset value | $167.4M | $209.7M | $170.5M | $139.1M | $146.1M | $83.2M | $104.1M | $63.1M | $72.7M | $75.5M |
| Net current asset value | −$18.8M | −$14.7M | $29.4M | $64.5M | $70.2M | $528,000 | −$18.5M | −$40.2M | $27.6M | $7.6M |
| Graham number | — | — | — | — | $24.24 | — | $16.02 | $11.62 | $10.02 | $18.40 |
| Graham net-net per share | −$0.89 | −$0.91 | $0.35 | $2.41 | $3.03 | −$1.01 | −$2.01 | −$3.00 | $1.15 | $0.16 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | $0 | $45,000 | $93,000 | $5.0M | $18.3M | $20.2M | $15.7M | — |
| Share buybacks (net) | $66,000 | $1.1M | $230,000 | $388,000 | $246,000 | $696,000 | $6.2M | $26.1M | $17.0M | $196,000 |
| Dividend payout ratio | — | — | — | — | 0.2% | — | 51.4% | 56.9% | 56.3% | — |
| Dividends + buybacks / free cash flow | — | — | — | — | 1.7% | 12.0% | 45.1% | 125.7% | 89.0% | 1.0% |
| Capex / revenue | 7.1% | 78.2% | 27.7% | 8.7% | 6.2% | 9.9% | 11.2% | 2.0% | 0.9% | 0.6% |
| Capex / operating cash flow | — | 812.9% | — | — | 23.9% | 12.4% | 12.6% | 1.3% | 1.2% | 1.4% |
| Capex / depreciation | 0.73 | 9.91 | 2.61 | 1.39 | 0.78 | 0.78 | 1.07 | 0.65 | 0.54 | 0.30 |
| Stock-based compensation / revenue | 2.8% | 2.5% | 2.7% | 1.9% | 1.9% | 3.7% | 2.9% | — | — | — |
| R&D / revenue | 6.1% | 3.7% | 3.3% | 2.0% | 4.0% | 4.5% | — | — | 0.3% | 1.3% |
| SG&A / revenue | 18.7% | 26.3% | 37.7% | 27.3% | 24.6% | 40.0% | 40.2% | 97.6% | 37.1% | 52.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 45.3 | 52.0 | 55.3 | 51.3 | 57.6 | 76.5 | 66.4 | 138.7 | 60.2 | 76.5 |
| Days of inventory on hand | 74.0 | 102.4 | 101.7 | 58.2 | 49.3 | 91.8 | 137.5 | 638.2 | 0.5 | 0.1 |
| Days payables outstanding | 76.3 | 93.5 | 83.3 | 73.9 | 67.7 | 57.6 | 52.7 | 211.2 | 16.7 | 17.6 |
| Cash conversion cycle (days) | 43.0 | 60.9 | 73.8 | 35.6 | 39.3 | 110.8 | 151.2 | 565.7 | 44.0 | 59.0 |
| Receivables turnover | 8.06 | 7.01 | 6.60 | 7.11 | 6.33 | 4.77 | 5.49 | 2.63 | 6.06 | 4.77 |
| Payables turnover | 4.78 | 3.90 | 4.38 | 4.94 | 5.39 | 6.34 | 6.92 | 1.73 | 21.84 | 20.74 |
| Inventory turnover | 4.93 | 3.56 | 3.59 | 6.27 | 7.40 | 3.98 | 2.65 | 0.57 | 708.56 | 2,488.56 |
| Asset turnover | 0.47 | 0.42 | 0.48 | 0.56 | 0.60 | 0.42 | 0.41 | 0.19 | 0.48 | 0.47 |
| Average receivables | $14.9M | $15.5M | $15.0M | $14.5M | $15.8M | $14.1M | $12.8M | $9.1M | $7.5M | $10.6M |
| Average payables | $18.1M | $17.8M | $15.4M | $16.3M | $12.2M | $7.9M | $7.1M | $3.6M | $1.5M | $1.9M |
| Average inventory | $17.6M | $19.5M | $18.8M | $12.8M | $8.9M | $12.7M | $18.6M | $10.9M | $45,000 | $16,000 |
| Intangibles / total assets | 0.2% | 2.7% | 3.4% | 0.5% | 0.7% | 1.3% | 2.4% | 2.9% | 1.0% | 0.6% |
Computed from ARQ's annual financial statements (latest annual report filed March 10, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ARQ valuation and financial ratios
Arq earned a return on equity of −27.3% and a return on invested capital of −2.9% in fiscal 2025. It ended the year with $37.4 million of debt and $6.6 million in cash and short-term investments, net debt of $30.8 million. It returned $0.1 million to shareholders: $0 in dividends and $0.1 million in share buybacks. The share count rose 86.8% from 22.2M to 41.5M over 9 years.
See the ARQ income statement, the ARQ chart for price history, or the ARQ stock overview for the latest quote and news.
ARQ key metrics FAQ
What is Arq's return on equity?
Arq's return on equity (ROE) was −27.3% in fiscal 2025: net income of -$52.6 million on average shareholders' equity of $192.6 million.
What is Arq's ROIC?
Arq's return on invested capital was −2.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Arq have?
Arq had total debt of $37.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.22.
Does Arq buy back its shares?
Yes. Arq spent $0.1 million on net share repurchases in fiscal 2025 Shares outstanding changed +15.2% over the year, to 41.5M..
What is Arq's free cash flow yield?
Arq generated -$11.1 million of free cash flow in fiscal 2025, a free cash flow yield of −3.7% on its market value at year-end ($297.3 million).
What is Arq's current ratio?
Arq's current ratio was 1.04 at the end of fiscal 2025: current assets were 1.04 times current liabilities.