Montauk Renewables, Inc. MNTK
We are a renewable energy company specializing in the recovery and processing of biogas from landfills and other non-fossil fuel sources to beneficial use as a replacement to fossil fuels. We develop, own, and operate RNG projects, using proven technologies that supply renewable fuel into the transportation and electrical power sectors. We are one of the largest U.S. producers of RNG, having participated in the industry for over 30 years. We established our currently operating portfolio of eleven RNG and two Renewable Electricity projects and development projects through self-development, partnerships, and acquisitions that span seven states.
In January 2021, we closed the initial public offering of our common stock on the Nasdaq Capital Market with the shares traded under the symbol "MNTK." Our common stock is also secondarily listed on the Johannesburg Stock Exchange under the trading symbol "MKR."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $176.4M | $175.7M | $174.9M | $213.4M | $148.1M | $100.2M | $104.0M | — |
| Gross profit | — | — | $45.3M | $65.7M | $25.4M | $25.1M | $30.8M | — |
| SG&A | $31.7M | $36.3M | $34.4M | $34.1M | $42.6M | $16.6M | $13.6M | — |
| Total operating expenses | $175.5M | $159.6M | $151.3M | $161.0M | $144.8M | $96.8M | $94.7M | — |
| Operating income | $852.0K | $16.1M | $23.6M | $44.6M | $3.3M | $3.6M | $11.0M | — |
| Interest expense | $4.8M | $5.3M | $5.8M | $1.8M | $2.9M | $4.3M | $5.6M | — |
| Pre-tax income | -$2.5M | $12.2M | $18.4M | $43.2M | -$367.0K | -$1.4M | $5.5M | — |
| Income tax | $4.2M | $2.4M | $3.4M | $8.0M | $4.2M | $6.0M | $354.0K | — |
| Net income | $1.7M | $9.7M | $14.9M | $35.2M | -$4.5M | $4.6M | $5.8M | — |
| EPS, basic | 0.01 | 0.07 | 0.11 | 0.25 | -0.03 | — | — | — |
| EPS, diluted | 0.01 | 0.07 | 0.11 | 0.25 | -0.03 | — | — | — |
| Shares, diluted (wtd. avg.) | $143.1M | $142.4M | $142.2M | $142.6M | $141.0M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $23.8M | $45.6M | $73.8M | $105.6M | $53.6M | $21.6M | $10.4M | $55.0M |
| Receivables | $6.6M | $7.9M | $12.6M | $7.1M | $9.3M | $5.3M | — | — |
| Total current assets | $37.2M | $57.2M | $90.2M | $124.9M | $75.2M | $32.5M | — | — |
| Property, plant and equipment | $341.4M | $252.3M | $214.3M | $175.9M | $180.9M | $186.4M | — | — |
| Goodwill | $60.0K | $60.0K | $60.0K | $60.0K | $60.0K | $60.0K | — | — |
| Other intangibles | $19.3M | $17.8M | $18.0M | $15.4M | $13.7M | $13.5M | — | — |
| Total assets | $435.5M | $349.0M | $350.2M | $332.3M | $286.5M | $253.4M | $243.6M | — |
| Accounts payable | $15.6M | $8.9M | $7.9M | $4.6M | $5.0M | $6.0M | — | — |
| Short-term debt | $2.7M | $11.9M | $7.9M | $7.9M | $7.8M | $9.5M | — | — |
| Total current liabilities | $33.4M | $33.5M | $29.4M | $28.4M | $24.6M | $28.5M | — | — |
| Long-term debt | $126.0M | $43.8M | $55.6M | $63.5M | $71.4M | $56.3M | — | — |
| Total liabilities | $172.3M | $91.6M | $100.0M | $105.2M | $104.2M | $93.7M | — | — |
| Retained earnings | $57.1M | $55.3M | $45.6M | $30.7M | -$4.5M | — | — | — |
| Total equity | $263.1M | $257.4M | $250.2M | $227.1M | $182.3M | $159.6M | $154.3M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $30.3M | $43.8M | $41.1M | $81.1M | $42.9M | $28.7M | $27.8M | — |
| Depreciation and amortisation | $30.0M | $23.5M | $21.2M | $20.7M | $22.9M | $22.1M | $19.8M | — |
| Stock-based compensation | $4.4M | $10.0M | $8.3M | $9.8M | $22.4M | $762.0K | $570.0K | — |
| Capital expenditure | $116.5M | $62.3M | $63.1M | $22.3M | $10.0M | $4.1M | $45.6M | — |
| Investing cash flow | -$120.5M | -$62.2M | -$63.1M | -$20.8M | -$19.5M | -$16.0M | -$44.9M | — |
| Financing cash flow | $68.3M | -$9.8M | -$9.3M | -$8.3M | $8.6M | -$1.5M | -$27.5M | — |
| Buybacks | $419.0K | $10.1M | $122.0K | $238.0K | — | — | $74.0K | — |
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 0001193125-26-102364.
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