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Friday 6 November 2026
Export AMTX’s income statement to Excel — free account
Aemetis, Inc
AMTX Basic Materials Specialty Chemicals
Aemetis, Inc’s revenue for fiscal 2025 (year ended December 2025) was $197.6 million, down 26.2% from fiscal 2024.
- Revenue
- +48.9%
- EPS
- +118.9%
- Free cash flow
- +269.0%
- Total debt
- +12.6%
Quarter to September 2026, against a year earlier
1.62
0.11
−6.36%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 143 | 150 | 172 | 202 | 166 | 212 | 257 | 187 | 268 | 198 | 249 | +3.6% | 260 | 374 | 528 | +38.7% | |
| Gross margin, % | 8.10 | 2.25 | 3.15 | 6.29 | 6.66 | 3.75 | (2.16) | 1.08 | (0.22) | (0.39) | 21.49 | (8.5) pt | ||||||
| EBT | (16) | (32) | (36) | (38) | (38) | (47) | (107) | (100) | (98) | (96) | (43) | +22.3% | ||||||
| EBT margin, % | (10.92) | (21.15) | (21.15) | (18.98) | (22.73) | (22.30) | (41.60) | (53.64) | (36.75) | (48.45) | (17.19) | (37.5) pt | ||||||
| Net income | (16) | (32) | (36) | (39) | (37) | (47) | (108) | (46) | (88) | (77) | (31) | +19.4% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 7.24 | 7.57 | 8.47 | 9.87 | 7.88 | 6.91 | 7.42 | 4.91 | 5.83 | 3.29 | 3.43 | (8.4%) | |||||
| Earnings | (0.79) | (1.53) | (1.63) | (1.75) | (1.74) | (1.54) | (3.12) | (1.22) | (1.91) | (1.28) | (0.47) | +5.5% | ||||||
| Cash flow | 0.02 | (0.44) | (0.27) | (0.10) | 0.12 | (0.67) | (0.66) | 0.36 | (0.72) | 0.05 | 0.21 | +12.5% | ||||||
| Capex | (0.03) | (0.06) | (0.20) | (0.42) | (0.92) | (0.87) | (1.13) | (0.87) | (0.44) | (0.43) | (0.72) | +33.7% | ||||||
| Free cash flow | (0.01) | (0.49) | (0.47) | (0.52) | (0.80) | (1.54) | (1.79) | (0.51) | (1.16) | (0.38) | (0.50) | +45.5% | ||||||
| Book value | (2.52) | (4.03) | (5.71) | (7.54) | (8.79) | (3.92) | (5.84) | (5.70) | (5.75) | (5.12) | (4.33) | +8.2% | ||||||
| Shares, m | 20 | 20 | 20 | 20 | 21 | 31 | 35 | 38 | 46 | 60 | 68 | +13.1% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | 0.21 | 0.08 | 0.07 | 0.08 | 0.32 | 1.78 | 0.53 | 0.97 | 0.46 | 0.42 | 0.47 | 0.5 | ||||||
| P/B | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | 0.92 | 1.01 | 1.00 | 1.00 | 1.61 | 2.57 | 1.33 | 2.41 | 1.62 | 2.13 | 1.97 | 1.6 | ||||||
| EV/FCF | (508.89) | (15.43) | (17.89) | (19.02) | (15.82) | (11.50) | (5.48) | (23.35) | (8.16) | (18.54) | (13.37) | (64.4) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 0 | (9) | (6) | (2) | 2 | (21) | (23) | 14 | (33) | 3 | 15 | +27.3% | |||||
| Capex | (1) | (1) | (4) | (9) | (19) | (27) | (39) | (33) | (20) | (26) | (52) | +51.2% | ||||||
| Free cash flow | 0 | (10) | (10) | (11) | (17) | (47) | (62) | (19) | (53) | (23) | (37) | +64.5% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | (20) | (25) | (32) | (45) | (94) | (45) | (70) | (48) | (99) | (344) | (411) | +37.1% | |||||
| Net debt | 101 | 140 | 159 | 185 | 214 | 166 | 205 | 269 | 310 | 338 | 372 | +14.4% | ||||||
| Shareholders’ equity | (50) | (80) | (116) | (154) | (185) | (120) | (202) | (217) | (264) | (307) | (314) | +22.4% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (19.43) | (35.20) | (35.47) | (37.26) | (32.58) | (32.97) | (58.57) | (20.61) | (34.83) | (29.66) | (11.28) | (10.2) pt | |||||
| ROIC | (0.96) | (12.71) | (15.72) | (10.12) | (12.76) | (21.41) | (647.80) | (45.27) | (54.39) | (74.29) | 19.40 | (73.3) pt | ||||||
| ROE | 36.74 | 46.73 | 33.79 | 26.46 | 21.62 | 30.92 | 66.91 | 22.17 | 36.41 | 26.98 | 10.08 | (9.8) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 144 | 140 | 166 | 160 | 164 | 158 | 168 | 205 | 223 | 220 | — | +4.8% | |||||
| Revenue/emp, $m | 0.99 | 1.07 | 1.03 | 1.26 | 1.01 | 1.34 | 1.53 | 0.91 | 1.20 | 0.90 | — | (1.1%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Aemetis, Inc vs peers in Specialty Chemicals (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ALTO Alto Ingredients, Inc. | $284.7M | 5.4× | 9.7× | +12.48% (above 0%: growing) | +200.00% (above 0%: growing) | +1,443.92% (above 0%: growing) | 6.77% | 3.51% | Compare |
| FF FutureFuel Corp. | $236.9M | — (loss-making) | — (loss-making) | +120.69% (above 0%: growing) | n/m | +4,245.38% (above 0%: growing) | 19.08% | 14.29% | Compare |
| CMT Core Molding Technologies Inc | $186.3M | 25.6× | 44.8× | +54.42% (above 0%: growing) | −18.18% (below 0%: shrinking) | −3,170.52% (below 0%: shrinking) | 14.83% | 1.76% | Compare |
| HDSN Hudson Technologies, Inc. | $172.1M | — (loss-making) | 33.2× | −19.71% (below 0%: shrinking) | −82.14% (below 0%: shrinking) | +43.42% (above 0%: growing) | 24.91% | 5.47% | Compare |
| AMTX Aemetis, Inc | $124.9M | — (loss-making) | — (loss-making) | +48.93% (above 0%: growing) | n/m | +269.01% (above 0%: growing) | 33.43% | 23.65% | |
| ACNT Ascent Industries Co. | $122.4M | — (loss-making) | — (loss-making) | +37.61% (above 0%: growing) | n/m | −97.54% (below 0%: shrinking) | 21.62% | (1.02%) | Compare |
| FEAM 5E Advanced Materials, Inc. | $93.8M | — (loss-making) | — | — | n/m | +17.79% (above 0%: growing) | 0.00% | 0.00% | Compare |
| NTIC Northern Technologies International Corporation | $72.0M | — (loss-making) | 188× | +12.59% (above 0%: growing) | n/m | +327.52% (above 0%: growing) | 33.63% | 2.13% | Compare |
| CITR CitroTech Inc. | $58.7M | — (loss-making) | — (loss-making) | −59.18% (below 0%: shrinking) | n/m | −30.95% (below 0%: shrinking) | 3.21% | (1,244.78%) | Compare |
| Median of peers | $147.3M | — | 39.0× | +12.59% | −18.18% | +30.61% | 16.95% | 1.95% |
Pay and ownership Proxy statement filed 7 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 1.87m | 1.87m | 56.00 |
| 2024 | 1.64m | 1.64m | 108.00 |
| 2023 | 1.76m | 1.76m | 210.00 |
| 2022 | 460.00k | 460.00k | 159.00 |
| 2021 | 2.43m | 2.43m | 494.00 |
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Read the proxy statement