Green Plains Inc. GPRE
Incorporated in Iowa, Green Plains is a renewable fuels and agricultural technology company focused on producing low-cost, low-CI ethanol and related co-products, including high protein feeds and corn oil from locally sourced corn. Our goal is to create value through an operational excellence focus including disciplined operations, cost leadership and carbon reduction as we position the company to benefit from expanding low-carbon fuel markets.
Founded in 2004, Green Plains now owns nine strategically located plants across the Midwest, capable of processing approximately 287 million bushels of corn annually, when all plants are operating. Today, our focus is on operating safely, efficiently and cost-effectively while reducing the CI of our products and maintaining financial flexibility to support long term growth. During the year, under new leadership, the company completed targeted asset sales, strengthened liquidity and reduced debt, positioning Green Plains to capture value from the next phase of the low-carbon transition. Our streamlined platform is positioned to create value through our focus on operational excellence, continuous improvement and disciplined capital allocation.
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 | $189.0M | $163.0M | $136.3M | $78.6M | $86.2M | $50.1M | $84.0M | $332.3M | $3.29B | $3.41B |
| Gross profit | $136.9M | $130.4M | $164.8M | $112.7M | $202.1M | $111.6M | — | — | — | — |
| SG&A | $122.7M | $118.0M | $133.3M | $118.9M | $91.1M | $84.9M | $77.1M | $108.3M | $107.5M | $104.7M |
| Total operating expenses | $2.16B | $2.51B | $3.36B | $3.76B | $2.80B | $2.05B | $2.56B | $2.89B | $3.27B | $3.32B |
| Operating income | -$67.2M | -$47.5M | -$61.6M | -$98.9M | $25.5M | -$122.7M | -$142.6M | $90.0M | $23.7M | $91.7M |
| Interest expense | $76.7M | $33.1M | $37.7M | $32.6M | $67.1M | $40.0M | $40.2M | $87.4M | $83.7M | $51.9M |
| Pre-tax income | -$143.8M | -$71.3M | -$82.3M | -$98.7M | -$43.0M | -$161.1M | -$172.9M | $5.6M | -$55.2M | $38.4M |
| Income tax | $51.7M | $6.2M | $5.6M | $4.7M | $1.8M | $50.4M | $21.3M | $20.1M | $132.1M | $7.9M |
| Net income | -$121.0M | -$81.2M | -$76.3M | -$103.4M | -$44.1M | -$108.8M | -$166.9M | $15.9M | $61.1M | $10.7M |
| EPS, basic | -1.80 | -1.29 | -1.59 | -2.29 | -1.41 | -3.14 | -4.38 | 0.39 | 1.56 | 0.28 |
| EPS, diluted | -1.80 | -1.29 | -1.59 | -2.29 | -1.41 | -3.14 | -4.38 | 0.39 | 1.47 | 0.28 |
| Shares, diluted (wtd. avg.) | $67.5M | $63.8M | $58.8M | $55.5M | $46.7M | $34.6M | $38.1M | $41.3M | $50.2M | $38.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $182.3M | $173.0M | $378.8M | $500.3M | $561.0M | $274.8M | $269.9M | $283.3M | $289.7M | $406.0M |
| Short-term investments | — | — | — | $0 | $124.9M | — | — | — | — | — |
| Receivables | $74.4M | $94.9M | $94.4M | $108.6M | $120.0M | $55.6M | $107.2M | $88.5M | $151.1M | $147.5M |
| Total current assets | $482.2M | $569.0M | $732.7M | $928.8M | $1.12B | $642.4M | $667.9M | $1.21B | $1.21B | $1.00B |
| Property, plant and equipment | $957.3M | $1.04B | $1.02B | $1.03B | $893.5M | $801.7M | $827.3M | $815.2M | $1.18B | $1.18B |
| Goodwill | — | — | — | $29.1M | $29.1M | $10.6M | $34.7M | $34.7M | $182.9M | $183.7M |
| Other intangibles | $10.5M | $12.7M | $15.1M | $18.0M | $22.8M | — | — | — | — | — |
| Total assets | $1.58B | $1.78B | $1.94B | $2.12B | $2.16B | $1.58B | $1.70B | $2.22B | $2.78B | $2.51B |
| Accounts payable | $134.9M | $154.8M | $186.6M | $234.3M | $146.1M | $140.1M | $156.7M | $135.8M | $205.5M | $192.3M |
| Short-term debt | $3.9M | $2.1M | $1.8M | $1.8M | $35.3M | $98.1M | $132.6M | $54.8M | $67.9M | $35.1M |
| Total current liabilities | $268.7M | $385.7M | $385.0M | $486.9M | $471.8M | $452.6M | $541.8M | $833.7M | $886.3M | $594.9M |
| Long-term debt | $362.0M | $432.5M | $491.9M | $495.2M | $514.0M | $287.3M | $244.0M | $298.1M | $767.4M | $782.6M |
| Total liabilities | $806.4M | $907.6M | $949.3M | $1.06B | $1.06B | $802.3M | $832.9M | $1.15B | $1.73B | $1.53B |
| Retained earnings | -$439.6M | -$318.3M | -$235.8M | -$142.4M | -$15.2M | $39.4M | $148.2M | $324.7M | $325.4M | $283.2M |
| Total equity | $766.2M | $865.2M | $990.1M | $1.06B | $1.10B | $738.6M | $865.3M | $1.06B | $1.06B | $979.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $110.9M | -$30.0M | $56.3M | $69.7M | $4.2M | $98.9M | -$9.5M | $39.0M | -$182.2M | $100.7M |
| Depreciation and amortisation | $98.4M | $90.6M | $98.2M | $92.7M | $92.0M | $78.2M | $72.1M | $98.3M | $103.6M | $84.2M |
| Stock-based compensation | $17.1M | $8.3M | $13.0M | $9.1M | $6.1M | $7.9M | $9.7M | $11.4M | $12.2M | $9.5M |
| Capital expenditure | $37.2M | $95.1M | $108.1M | $212.4M | $187.2M | $110.6M | $75.5M | $40.5M | $44.6M | $58.1M |
| Investing cash flow | $162.1M | -$62.1M | -$106.9M | -$105.3M | -$236.3M | -$11.5M | $30.6M | $507.5M | -$128.5M | -$572.6M |
| Financing cash flow | -$252.3M | -$77.3M | -$71.0M | -$25.1M | $518.2M | -$82.5M | -$69.4M | -$540.6M | $216.2M | $425.4M |
| Dividends paid | $721.0K | $5.2M | $22.7M | $22.6M | $9.3M | $9.7M | $31.7M | $41.3M | $39.4M | $37.3M |
| Buybacks | $30.0M | $0 | $0 | $0 | $0 | $11.5M | $61.6M | $3.0M | $6.7M | $6.0M |
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 0001309402-26-000050.
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