AEMETIS, INC AMTX
Founded in 2006 and headquartered in Cupertino, California, Aemetis, Inc. (collectively with its subsidiaries on a consolidated basis referred to herein as "Aemetis," the "Company," "we," "our" or "us") is an international renewable natural gas and renewable fuels company focused on the operation, acquisition, development, and commercialization of innovative technologies to produce low and negative carbon intensity renewable fuels that lower fuel costs and reduce emissions. We do this by building a local circular bioeconomy using agricultural products and wastes to produce low carbon, advanced renewable fuels that reduce greenhouse gas ("GHG") emissions and improve air quality. Our current operations include:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $197.6M | $267.6M | $186.7M | $256.5M | $211.9M | $165.6M | $202.0M | $171.5M | $150.2M | $143.2M |
| Cost of revenue | $208.7M | $268.2M | $184.7M | $262.0M | $204.0M | $154.5M | $189.3M | $166.1M | $146.8M | $131.6M |
| Gross profit | -$768.0K | -$580.0K | $2.0M | -$5.5M | $7.9M | $11.0M | $12.7M | $5.4M | $3.4M | $11.6M |
| R&D | — | — | $152.0K | $180.0K | $88.0K | $213.0K | $205.0K | $246.0K | $2.4M | $369.0K |
| SG&A | $36.5M | $39.8M | $39.4M | $28.7M | $23.7M | $16.9M | $17.4M | $16.1M | $13.2M | $12.0M |
| Operating income | -$37.2M | -$40.4M | -$37.4M | -$34.4M | -$15.8M | -$6.1M | -$4.9M | -$10.9M | -$12.2M | -$781.0K |
| Interest expense | $52.9M | $46.6M | $39.5M | $28.8M | $24.1M | $22.9M | $21.1M | $25.7M | $19.3M | $17.2M |
| Pre-tax income | -$95.7M | -$98.4M | -$100.2M | -$106.7M | -$47.3M | $0 | $0 | -$36.3M | -$31.8M | -$15.6M |
| Income tax | $18.7M | $10.8M | $53.7M | $1.1M | $128.0K | $976.0K | $1.1M | $7.0K | $6.0K | $6.0K |
| Net income | -$77.0M | -$87.5M | -$46.4M | -$107.8M | -$47.1M | -$36.7M | -$39.5M | -$36.3M | -$31.8M | -$15.6M |
| EPS, basic | -1.28 | -1.91 | -1.22 | -3.12 | -1.54 | -1.74 | -1.75 | -1.63 | -1.53 | -0.79 |
| EPS, diluted | -1.28 | -1.91 | -1.22 | -3.12 | -1.54 | -1.74 | -1.75 | -1.63 | -1.53 | -0.79 |
| Shares, diluted (wtd. avg.) | $60.0M | $45.9M | $38.1M | $34.6M | $30.7M | $21.0M | $20.5M | $20.3K | $19.8K | $19.8K |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.9M | $898.0K | $2.7M | $4.3M | $7.8M | $592.0K | $656.0K | $1.2M | $428.0K | $1.5M |
| Receivables | — | — | — | $1.3M | $1.6M | — | — | — | — | — |
| Inventory | $11.6M | $25.4M | $18.3M | $4.7M | $5.1M | $4.0M | $6.5M | $6.1M | $5.7M | $3.2M |
| Total current assets | $26.9M | $44.7M | $36.4M | $18.1M | $20.7M | $8.7M | $12.6M | $10.3M | $11.5M | $7.0M |
| Property, plant and equipment | — | — | $195.1M | $180.4M | $135.1M | $109.9M | $84.2M | $78.5M | $78.8M | $66.4M |
| Total assets | $259.8M | $259.3M | $243.4M | $207.1M | $160.8M | $125.1M | $99.9M | $91.8M | $94.3M | $77.8M |
| Accounts payable | $23.4M | $33.1M | $32.1M | $26.2M | $16.4M | $20.7M | $16.0M | $13.5M | $10.5M | $7.8M |
| Short-term debt | $279.1M | $63.7M | $13.6M | $12.5M | $8.2M | $45.0M | $5.8M | $2.4M | $2.0M | $2.0M |
| Total current liabilities | $371.3M | $144.0M | $84.4M | $88.3M | $65.3M | $102.2M | $57.8M | $42.6M | $36.0M | $27.2M |
| Long-term debt | $63.9M | $247.5M | $257.7M | $197.0M | $166.0M | $170.1M | $179.7M | $157.8M | $138.2M | $100.3M |
| Retained earnings | -$639.9M | -$562.9M | -$475.4M | -$429.0M | -$321.2M | -$274.1M | -$237.4M | -$193.2M | -$160.2M | -$129.9M |
| Total equity | -$306.8M | -$263.9M | -$217.0M | -$201.9M | -$120.2M | -$184.7M | -$154.4M | -$115.6M | -$79.9M | -$49.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.3M | -$32.9M | $13.8M | -$22.9M | -$20.6M | $2.5M | -$2.0M | -$5.5M | -$8.7M | $371.0K |
| Depreciation and amortisation | $9.6M | $8.3M | $6.9M | $5.5M | $5.4M | $4.9M | $4.4M | $4.6M | $4.6M | $4.7M |
| Stock-based compensation | $5.8M | $8.3M | $7.7M | $6.4M | $3.9M | $995.0K | $774.0K | $981.0K | $1.1M | $747.0K |
| Capital expenditure | $26.0M | $20.3M | $33.1M | $39.2M | $26.7M | $19.3M | $8.6M | $4.1M | $1.1M | $629.0K |
| Investing cash flow | -$25.6M | -$14.1M | -$23.7M | -$31.3M | -$22.9M | -$17.3M | -$8.6M | -$4.1M | -$1.1M | -$629.0K |
| Financing cash flow | $26.4M | $44.6M | $9.1M | $53.6M | $50.7M | $14.8M | $10.1M | $10.4M | $8.4M | $1.6M |
| Buybacks | — | — | — | — | — | — | — | — | — | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-011626.
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