AMREP CORP. AXR

Real estate SIC 6552 - Land Subdividers & Developers (No Cemeteries) NAICS Construction › Heavy and Civil Engineering Construction › Land Subdivision derived NYSE

AMREP Corporation was organized in 1961 as an Oklahoma corporation and, through its subsidiaries, is primarily engaged in two business segments: land development and homebuilding. The Company has no foreign sales or activities outside the United States. The Company conducts a substantial portion of its business in Rio Rancho, New Mexico ("Rio Rancho") and certain adjoining areas of Sandoval County, New Mexico. Rio Rancho is the third largest city in New Mexico with a population of approximately 114,000.

As of April 30, 2026, the Company owned approximately 16,200 acres in Sandoval County, New Mexico. The Company develops both residential lots and sites for commercial and industrial use as demand warrants. The Company offers for sale both developed and undeveloped real property to its internal homebuilder as well as national, regional and local homebuilders, commercial and industrial property developers and others. Activities conducted or arranged by the Company include land and site planning, obtaining governmental and environmental approvals ("entitlements"), installing utilities and storm drains, ensuring the availability of water service, building or improving roads necessary for land development and constructing community amenities. Engineering work is performed by both the Company's employees and outside firms, but development work is generally performed by outside contractors. The Company also provides landscaping services primarily to homebuilders.

Last close 20.93 2026-10-23
Market cap $111.4M 2026-04-30 share count
52-week range 17.61 - 29.01

Valuation FY2025 figures against the last close

P/S2.1x
P/E11.0x
P/FCF8.7x
EV/EBITDA4.7x
Dividend yield—
Diluted EPS1.91

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $52.8M$49.7M$51.4M$48.7M$58.9M$40.1M$18.8M$12.8M$8.9M$42.4M
Cost of revenue ——————$13.3M$10.8M$6.1M—
Gross profit ——————$5.5M$2.0M$2.9M—
SG&A $9.0M$7.3M$6.9M$5.5M$5.4M$5.4M$13.0M———
Total operating expenses $40.5M$37.6M$43.8M$42.8M$37.6M$31.0M$26.7M$16.0M$11.8M$41.4M
Operating income $12.4M$12.1M$7.6M$5.8M$21.3M$9.0M-$8.0M-$3.2M——
Interest expense $1.7M$1.6M$823.0K$8.0K$2.0K$40.0K$334.0K$25.0K$5.0K$333.0K
Pre-tax income $14.1M$13.7M$8.4M$7.6M$21.6M$10.0M-$7.6M-$3.2M-$2.8M$982.0K
Income tax $3.8M$1.0M$1.7M$14.1M$5.7M$2.6M$1.7M$708.0K$279.0K$997.0K
Net income $10.4M$12.7M$6.7M$21.8M$15.9M$7.4M-$5.9M$1.5M$238.0K-$15.0K
EPS, basic 1.932.391.264.132.210.95-0.73———
EPS, diluted 1.912.371.254.112.210.95-0.730.190.030.00
Shares, diluted (wtd. avg.) 5.4M5.4M5.3M5,3077,1937,7738,1348,1458,1048.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $52.3M$39.5M$30.2M$20.0M$15.7M$24.8M$17.5M$14.2M$14.0M$11.8M
Short-term investments $0$0————————
Receivables $0$0——————$5.9M$6.4M
Property, plant and equipment $2.1M$2.2M$1.7M$1.4M$1.3M$28.0K$35.0K—$9.7M$10.9M
Total assets $144.8M$133.8M$122.8M$115.9M$94.9M$97.4M$96.7M$100.5M$106.2M$106.7M
Long-term debt $18.0K$26.0K$35.0K$44.0K$2.0M$3.5M$3.9M———
Total liabilities $4.0M$3.8M$4.8M$4.9M$11.8M$8.5M$12.0M$10.7M$19.1M$21.8M
Retained earnings $106.3M$96.0M$83.3M$76.6M$54.8M$47.7M$43.1M$49.1M$47.5M$46.8M
Total equity $140.7M$130.0M$118.0M$111.0M$83.2M$88.9M$84.6M$89.8M$87.1M$85.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $12.9M$10.2M$10.7M$6.4M$15.5M$12.6M$765.0K$592.0K$531.0K$10.4M
Depreciation and amortisation $312.0K$179.0K$149.0K$63.0K$225.0K$554.0K$537.0K$606.0K$509.0K$1.4M
Stock-based compensation $447.0K$423.0K$317.0K$238.0K$217.0K$132.0K$113.0K$231.0K$177.0K$117.0K
Capital expenditure $102.0K$583.0K$457.0K$131.0K$1.3M$5.0K$9.0K$8.0K$52.0K$249.0K
Investing cash flow -$102.0K-$553.0K-$457.0K-$131.0K-$1.2M-$5.0K-$9.0K$152.0K-$139.0K-$249.0K
Financing cash flow -$8.0K-$9.0K-$9.0K-$2.0M-$23.4M-$5.3M$2.5M-$549.0K$1.8M-$12.9M
Buybacks ———$0$21.9M$5.1M$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 0001104659-26-090418.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -20M 0 20M 40M 60M Revenue, FY2016: 42.4M Net income, FY2016: -15K Revenue, FY2017: 8.9M Gross profit, FY2017: 2.9M Net income, FY2017: 238K Revenue, FY2018: 12.8M Gross profit, FY2018: 2M Net income, FY2018: 1.5M Revenue, FY2019: 18.8M Gross profit, FY2019: 5.5M Net income, FY2019: -5.9M Revenue, FY2020: 40.1M Net income, FY2020: 7.4M Revenue, FY2021: 58.9M Net income, FY2021: 15.9M Revenue, FY2022: 48.7M Net income, FY2022: 21.8M Revenue, FY2023: 51.4M Net income, FY2023: 6.7M Revenue, FY2024: 49.7M Net income, FY2024: 12.7M Revenue, FY2025: 52.8M Net income, FY2025: 10.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $42.4M $8.9M $12.8M $18.8M $40.1M $58.9M $48.7M $51.4M $49.7M $52.8M
Gross profit — $2.9M $2.0M $5.5M — — — — — —
Net income -$15.0K $238.0K $1.5M -$5.9M $7.4M $15.9M $21.8M $6.7M $12.7M $10.4M

Recent filings and events

  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Annual report filed Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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