# Alset Inc. (AEI)

> Source: Nexqual · https://nexqual.com/AEI · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Alset Inc. (AEI), nexqual.com/AEI" · informational, not investment advice.

**Price:** USD 0.56 (-10.63% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 0.63 · day 0.56–0.57 · 52w 0.55–3.98 · market cap $21.8M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.3M, net income -$40.7M (-951.4% margin), free cash flow -$8.8M (SEC filings).
- Total return with dividends: 1Y -80.1% vs S&P 500 +13.4%; 5Y -98.6% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $19.8M | $4.5M | $22.1M | $21.1M | $4.5M | $4.3M |
| Gross profit | $8.5M | $748K | $7.5M | $8.3M | $1.2M | — |
| Operating income | -$15.0M | -$7.1M | -$2.9M | -$4.1M | -$15.2M | -$12.9M |
| Net income | -$119M | -$40.5M | -$58.9M | -$4.0M | -$47.4M | -$40.7M |
| EPS (diluted) | -$73.80 | -$6.22 | -$6.52 | -$0.43 | -$2.22 | — |
| Free cash flow | -$16.9M | -$32.5M | $7.4M | $5.1M | -$6.1M | -$8.8M |
| Gross margin | 42.9% | 16.7% | 34.0% | 39.5% | 27.9% | — |
| Operating margin | -75.7% | -158.2% | -13.0% | -19.5% | -338.9% | -302.1% |
| Net margin | -601.1% | -903.7% | -266.9% | -18.8% | -1060.5% | -951.4% |
| Revenue growth | +21.9% | -77.4% | +393.0% | -4.4% | -78.8% | — |
| Cash + short-term investments | $80.0M | $24.1M | — | — | $25.2M | — |
| Total debt | — | $152K | $157K | $123K | $659K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 5.1x · EV/Sales 2.2x · P/B 0.2x · FCF yield -40.65% · Earnings yield -186.88% · Net cash $12.3M · EV $9.5M

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -80.1% | -98.6% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -80.2% | -57.4% |
| Volatility (annualized) | 96.5% | 103.1% |
| Max drawdown | -85.3% (Jan 2026→Oct 2026) | -98.8% (Nov 2021→May 2024) |

## Peers (Real Estate - Development)
FOR (Forestar Group Inc) USD 26.09 -0.50% · CCS (Century Communities, Inc.) USD 57.92 -0.72% · HHH (Howard Hughes Holdings Inc.) USD 70.19 +1.01% · WPC (W. P. Carey Inc. REIT) USD 63.9 -0.99% · SUI (Sun Communities, Inc.) USD 120.24 +0.32% · LAMR (Lamar Advertising Company) USD 155.02 -1.58%

## More
Full page: https://nexqual.com/AEI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name AEI in their own reports (relationship from AEI's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| related | DSS, INC. (DSS) | 10-K 2026-03-31 | "December 10, 2024, DSS entered into a securities purchase agreement with Alset Inc., a related party, pursuant to which the Company agreed" |
| partner | HWH International Inc. (ESYN) | 10-K 2026-03-26 | "November 25, 2024, the Company entered into a stock purchase agreement with Alset Inc. ("AEI"), pursuant to which Alset Inc." |

## Revenue by business segment (quarter ended 2026-03-31)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Real Estate | $726,659 | 74.1% | +1.2% | -$579,813 | -79.8% |
| Other | $254,119 | 25.9% | -27.5% | -$1.9M | -757.8% |
| Total revenue | $980,778 | 100% | — | -$2.7M | -270.4% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Rental | $724,313 | 73.3% | +1.2% |
| Other | $264,229 | 26.7% | -31.0% |
| Total revenue | $988,542 | 100% | — |

## Customer concentration

Period ended 2026-06-30: 10% of revenue from unnamed direct customers (10-Q, filed 2026-08-14).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |