Aeries Technology (AERT) AI Stock Analysis

• Market Cap: $15.07M
• Dividend Yield: N/A
• Average Volume (3M): 643.58K
• Price to Earnings (P/E): 5.8
• Beta (1Y): 0.71
• Revenue Growth: -3.87%
• EPS Growth: -104.63%
• Country: US
• Employees: 1,700
• Sector: Industrials
• Sector Strength: 72
• Industry: Consulting Services
• EPS (TTM): 0.02
• Shares Outstanding: 50,209,717
• 10 Day Avg. Volume: 132,326
• 30 Day Avg. Volume: 643,581
• PEG Ratio: <0.01
• Price to Book (P/B): -4.31
• Price to Sales (P/S): 0.36
• P/FCF Ratio: -10.02
• Enterprise Value/Market Cap: 1.88
• Enterprise Value/Revenue: 0.41
• Enterprise Value/Gross Profit: 1.65
• Enterprise Value/Ebitda: 11.35
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.29 ▼(-44.81% Downside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is primarily held down by weak financial performance—declining TTM revenue, recent net losses, and a strained balance sheet with negative equity—only partly offset by improved recent cash flow. Technicals also remain bearish with the stock below key moving averages. Corporate actions are mixed, with buyback authorization offset by financing/forward-transaction terms that add risk.

Positive Factors

Recurring managed services revenue

The business model is anchored in recurring managed-service contracts with PE portfolio companies and mid-market firms. Recurring fees and dedicated delivery teams support predictable top-line streams, enable multi-year client relationships, and allow cross-sell of adjacent services, improving revenue resilience over months.

Improved operating and free cash flow

A material TTM reversal to positive operating and free cash flow strengthens near-term liquidity and the firm's ability to fund operations, service obligations, and strategic investments. While cash quality is mixed versus recent losses, sustained positive cash conversion would materially reduce refinancing risk and enhance execution capacity.

Board-authorized share repurchase

A $5M repurchase authorization signals board confidence and a disciplined capital allocation stance. Over time, buybacks can reduce share count, align management and shareholder interests, and reflect a focus on returning capital when operational priorities are met, supporting long-run shareholder value if executed prudently.

Negative Factors

Negative shareholders' equity

Negative shareholders’ equity indicates accumulated losses and undermines financial flexibility. This structural weakness raises leverage and refinancing risk, limits access to unsecured capital, and constrains strategic investments or M&A; it materially worsens resilience to shocks over the medium term.

Declining revenue and volatile profitability

A ~21% TTM revenue decline combined with swings from prior earnings to deep losses signals unstable demand, margin pressure, and execution risk. Persistent top-line erosion and volatile margins impede scaling benefits, reduce operating leverage, and threaten sustainable free cash flow generation across quarters.

Amended forward deal increases repayment/dilution risk

The amended forward agreement creates recurring cash interest and structured repayments and preserves a mechanism for issuing shares to settle liabilities. That raises long-term cash servicing costs and dilution risk, maintaining a financing overhang that constrains capital allocation and shareholder value creation.

Aeries Technology Business Overview & Revenue Model

Company Description

Aeries Technology, Inc. operates as a professional services and consulting partner in the United States and internationally. The company offers management consultancy services for private equity sponsors and their portfolio companies, including software solutions, product management, IT infrastructure, information and cyber security, ERP and CRM platform management, business process management, and digital transformation services. The company was founded in 2012 and is based in Orem, Utah.

How the Company Makes Money

Aeries Technology generates revenue through multiple streams, primarily by selling its software and hardware products to businesses in diverse industries. The company employs a subscription-based model for its cloud-based applications, providing customers with ongoing access to updates and support, which ensures a steady stream of recurring revenue. Additionally, AERT earns income through the sale of IoT devices and related services, as well as through strategic partnerships with other technology firms that enhance its product offerings. These collaborations often result in co-branded solutions or bundled services that appeal to a broader customer base. Furthermore, AERT may engage in consulting and implementation services, which provide additional revenue opportunities by helping clients optimize their technology investments.

Aeries Technology Financial Statement Overview

Summary

Weak fundamentals overall: Income Statement performance is poor (revenue down ~21% TTM and profitability swung to deep losses), the Balance Sheet is highly strained (negative shareholders’ equity and meaningful debt), partially offset by improved TTM operating cash flow and free cash flow that still looks volatile versus recent net losses.

Income Statement

Results are volatile. Revenue has declined in TTM (Trailing-Twelve-Months) (down ~21%) after strong growth in 2023–2024, and profitability has swung from strong earnings in FY2024 to deep losses in FY2025 annual. TTM (Trailing-Twelve-Months) margins are thin with a slight operating profit but a net loss, indicating pressured cost structure and limited earnings power at current scale.

Balance Sheet

The balance sheet is strained by negative shareholders’ equity in the most recent periods (TTM and FY2025 annual), which makes leverage riskier and weakens financial flexibility. Total debt remains meaningful versus the asset base, and the move from positive equity in FY2023 to negative equity thereafter signals deterioration in capital structure and resilience.

Cash Flow

Cash generation improved materially in TTM (Trailing-Twelve-Months) with solid positive operating cash flow and free cash flow, a sharp reversal from negative free cash flow in FY2024 and FY2025 annual. However, cash flow quality is mixed given recent net losses and prior-year volatility, suggesting execution risk and less predictable cash conversion across cycles.

Breakdown	TTM	Jun 2025	Sep 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	69.20M	70.20M	72.51M	53.10M	41.01M
Gross Profit	17.23M	16.72M	21.64M	13.66M	12.01M
EBITDA	2.50M	-20.53M	21.34M	4.12M	7.59M
Net Income	-2.93M	-19.71M	15.66M	1.45M	4.03M
Balance Sheet
Total Assets	41.98M	39.83M	49.41M	34.40M	18.86M
Cash, Cash Equivalents and Short-Term Investments	2.57M	2.76M	2.08M	1.13M	351.00K
Total Debt	14.36M	17.86M	16.37M	8.80M	1.99M
Total Liabilities	42.78M	45.94M	50.59M	20.93M	10.17M
Stockholders Equity	-1.19M	-5.80M	-12.24M	12.19M	7.56M
Cash Flow
Free Cash Flow	5.51M	-2.49M	-5.82M	511.00K	1.51M
Operating Cash Flow	5.63M	-1.01M	-4.30M	2.11M	3.16M
Investing Cash Flow	-762.00K	-858.00K	-1.74M	-1.56M	-437.00K
Financing Cash Flow	-4.61M	2.43M	7.06M	252.00K	-3.54M

Aeries Technology Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AERT, the sentiment is Negative. The current price of 0.52 is above the 20-day moving average (MA) of 0.39, above the 50-day MA of 0.47, and below the 200-day MA of 0.69, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 37.03 is Neutral, neither overbought nor oversold. The STOCH value of 18.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AERT.

Aeries Technology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCIG	73 Outperform	$3.56M	―	―	―	―	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
FC	51 Neutral	$139.90M	-14.66	-2.17%	―	-7.02%	-86.27%
RGP	48 Neutral	$121.61M	-3.17	-61.44%	6.74%	-10.83%	-1669.11%
FORR	42 Neutral	$119.72M	-1.29	-43.39%	―	-8.73%	-1168.15%
AERT	41 Neutral	$15.07M	5.84	―	―	-3.87%	-104.63%

Aeries Technology Corporate Events

Aeries Technology Shareholders Approve All AGM Resolutions

At its 2026 Annual General Meeting on March 3, 2026, Aeries Technology won shareholder approval for all five resolutions, including the election of four directors, ratification of Manohar Chowdhry & Associates as auditor for the fiscal year ended March 31, 2026, and authorization for a potential consolidation of its Class A ordinary shares at a ratio of up to one-for-ten. Shareholders also backed related amendments to the company’s memorandum and articles of association, while the board signaled it does not plan to implement a share consolidation in the near term and is instead emphasizing operational performance and execution of a previously authorized $5 million share repurchase program.

The most recent analyst rating on (AERT) stock is a Hold with a $0.41 price target. To see the full list of analyst forecasts on Aeries Technology stock, see the AERT Stock Forecast page.

Aeries Technology Authorizes $5 Million Share Repurchase Program

On March 2, 2026, Aeries Technology, Inc. announced that its board had authorized a share repurchase program of up to $5.0 million of its outstanding Class A ordinary shares over a twelve-month period. The authorization allows repurchases through various methods, may be adjusted or discontinued at any time, and is presented as a disciplined, flexible capital allocation tool reflecting the board’s confidence in the company’s strategy and commitment to enhancing long-term shareholder value.

The most recent analyst rating on (AERT) stock is a Hold with a $0.31 price target. To see the full list of analyst forecasts on Aeries Technology stock, see the AERT Stock Forecast page.

Aeries Technology Amends Forward Deal, Sets New Repayment Terms

On January 22, 2026, Aeries Technology, Inc. amended its existing letter agreement with Sandia Investment Management LP related to a prior OTC equity prepaid forward transaction, formalizing that Sandia may continue selling its Class A ordinary shares, originally issued under the forward purchase structure, at not less than $1.05 per share to offset Aeries’ payment obligations, while also setting a formula for issuing and registering additional Class A shares if liabilities remain after the designated sales period and clarifying the company’s obligations in the event of a change in control or a Nasdaq delisting. Amendment No. 2 acknowledges an outstanding liability of $1,812,063.23, introduces a structured amortization schedule beginning with a $100,000 payment on March 31, 2026 followed by $75,000 monthly payments, sets a 15% annual interest rate with monthly interest payments starting January 2026, applies proceeds from Sandia’s share sell-downs to reduce the outstanding amount, and extends the designated period until the liability is fully repaid, measures that collectively tighten the framework for settling Aeries’ obligations and managing dilution risk for shareholders.

The most recent analyst rating on (AERT) stock is a Hold with a $0.54 price target. To see the full list of analyst forecasts on Aeries Technology stock, see the AERT Stock Forecast page.

Aeries Technology Extends Equity Forward Sale Agreement Period

On December 31, 2025, Aeries Technology, Inc. amended a prior letter agreement with Sandia Investment Management LP that governs the sale of Aeries’ Class A ordinary shares held by Sandia under an existing OTC Equity Prepaid Forward Transaction and related forward purchase arrangements. The amendment extends the period during which Sandia may sell these shares at a minimum price of $1.05 per share, with proceeds offsetting Aeries’ payment obligations under the forward purchase structure, moving the end date from December 31, 2025 to January 9, 2026 while leaving all other terms unchanged, a limited adjustment that slightly lengthens the window for managing Aeries’ obligations and Sandia’s share disposals without altering the broader financing framework.

The most recent analyst rating on (AERT) stock is a Sell with a $0.53 price target. To see the full list of analyst forecasts on Aeries Technology stock, see the AERT Stock Forecast page.