Saturday 10 October 2026 Export all AREC data to Excel Powerpack

American Resources Corporation

In the quarter to December 2025, revenue grew 84.9%, EPS grew 774.2%, free cash flow fell 100.9% and total debt rose 47.4%, each against the same quarter a year earlier.

1.59 0.06 −3.64%

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Market cap: $176.5M
P/E: 2.4×
Fwd P/E: −6.3×
Dividend yield: 0.00%
F-score: 5/9
Altman Z: −1.67
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 6.52

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	7	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 1.35%

Capital & Financial Ratios $m

Market Cap 176.50

Revenue 0.00

Net Income 55.39

Free Cash Flow (10.45)

Net Debt (54.69)

Current Ratio 2.19

Debt/Equity 0.19

P/E ratio 2.41

Fwd P/E (6.29)

P/S ratio 1,387,662.96

P/B ratio 1.49

Past 5Y EPS Growth —

This Y EPS Growth 13.24%

Next Y EPS Growth 193.16%

Next Y revenue growth 41.64%

Next 5Y EPS Growth (21.64%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 90.81%

10-year low 10-year high

P/B against its own 10 years 1.44%

10-year low 10-year high

EV/Sales against its own 10 years 90.81%

10-year low 10-year high

Dividends

Payout Ratio 0.00

Annual Dividend Rate 0.00

Annual Dividend Yield 0.00%

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2022	2023	2024	2025
Cash	11	35	1	72
Receivables	1	1	82	59
Inventory	0	0	1	—
Other	—	—	—	—
	13	38	93	134

	2022	2023	2024	2025
Payables	12	9	21	54
ST’ Debt	12	54	6	4
Other	3	0	0	—
	27	78	166	61

Compound Annual Growth %

	10y	5y	3y
Sales	(5.86%)	(73.16%)	(83.62%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	0.00%	0.00%	589.17%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	0	0	0	—	—
’24	0	0	0	—	0
’23	9	2	6	—	12
’22	9	16	10	5	39
’21	0	0	3	5	8
’20	1	0	0	0	1
’19	7	9	2	6	24

Fiscal quarters ending in the months shown.

value withheld pending a data check

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	(1)	(7)	(1)	(1)	(10)
’24	(5)	(9)	(4)	20	2
’23	(7)	(3)	(5)	(4)	(20)
’22	(6)	(2)	(4)	14	3
’21	(7)	(4)	(7)	(12)	(29)
’20	1	(2)	(1)	(12)	(14)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	(1)	(7)	(2)	0	(10)
’24	(5)	(7)	(2)	17	2
’23	(8)	(2)	(4)	(7)	(22)
’22	(6)	(1)	1	26	19
’21	(7)	(4)	(9)	(12)	(32)
’20	0	(1)	(1)	(12)	(13)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	(0.08)	(0.10)	(0.07)	0.91	0.63
’24	(0.09)	(0.14)	(0.13)	(0.14)	(0.52)
’23	(0.04)	(0.10)	(0.03)	(0.34)	(0.52)
’22	(0.04)	(0.04)	(0.08)	0.14	(0.02)
’21	(0.14)	(0.13)	(0.15)	(0.18)	(0.59)
’20	(0.12)	0.05	0.00	(0.28)	(0.35)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	0.05	0.05	0.47	0.32	1.58	1.15	1.04	0.41	0.38	Analyst estimates 2026–2028 Powerpack
	High	—	1.00	14.00	12.20	4.93	8.02	3.56	2.16	1.78	7.11
People
People	Employees	3	204	227	15	10	10	17	23	23	7
	Revenue/emp, $m	0.00	0.10	0.14	1.63	0.11	0.78	2.32	0.51	0.00	0.00
Income, $m
Income, $m	Revenue	8	21	32	24	1	8	39	12	0	—
	Gross margin, %	(17.90)	21.50	20.72	(6.57)	(253.83)	8.59	45.06	35.92	(1,456.89)	0.00
	EBT	(22)	(13)	(13)	(71)	(10)	(33)	(1)	(39)	(16)	(18)
	EBT margin, %	(290.60)	(60.48)	(40.47)	(289.73)	(967.80)	(419.12)	(3.66)	(327.57)	(46,807.04)	0.00
	Net income	(22)	(13)	(13)	(71)	(10)	(33)	(1)	(39)	(39)	55
	Depreciation	2	3	4	14	3	3	4	4	0	0
Per share, $
Per share, $	Revenue	0.00	26.28	8.97	1.02	0.04	0.14	0.59	0.16	0.00	0.00
	Earnings	(0.90)	(15.89)	(3.69)	(2.94)	(0.35)	(0.59)	(0.02)	(0.52)	(0.52)	0.63
	Cash flow	0.00	(7.12)	(0.96)	(0.80)	(0.47)	(0.53)	0.04	(0.26)	0.03	(0.12)
	Capex	0.00	(0.22)	(0.04)	(0.01)	0.01	(0.06)	0.25	(0.03)	0.00	0.00
	Free cash flow	0.00	(7.34)	(1.00)	(0.81)	(0.46)	(0.58)	0.29	(0.29)	0.03	(0.12)
	Book value	0.00	(46.90)	(2.62)	(1.36)	(0.68)	(0.04)	0.00	(0.60)	(1.05)	1.07
	Shares, m	0	1	4	24	29	55	67	75	77	87
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	P/S	0.07	0.00	1.11	0.62	54.03	12.82	2.08	9.73	2,293.98	—
	P/B	0.00	0.00	0.00	0.00	0.00	0.00	288.50	0.00	0.00	—
	EV/Sales	0.84	0.70	1.74	1.68	72.92	13.27	2.29	12.14	2,619.55	—
	EV/FCF	9.73	(2.51)	(15.08)	(2.10)	(5.75)	(3.20)	4.64	(6.64)	40.07	—
Cash, $m
Cash, $m	Operating cash flow	(6)	(6)	(3)	(19)	(14)	(29)	3	(20)	2	(10)
	Capex	0	0	0	0	0	(3)	17	(2)	0	0
	Free cash flow	(6)	(6)	(3)	(20)	(13)	(32)	19	(22)	2	(10)
Balance, $m
Balance, $m	Working capital	(21)	(33)	(22)	(42)	(10)	(1)	(15)	(40)	(74)	73
	Total debt	9	15	22	26	31	15	19	64	12	17
	Net debt	9	15	20	26	20	4	8	29	11	(55)
	Shareholders’ equity	(28)	(37)	(9)	(33)	(20)	(2)	0	(45)	(81)	93
Returns, %
Returns, %	ROA	(217.41)	(71.04)	(45.18)	(185.18)	(27.85)	(79.97)	(2.93)	(63.87)	(22.59)	24.60
	ROIC	0.00	0.00	(67.82)	0.00	(160,619.14)	(1,492.99)	(143.78)	0.00	0.00	(18.36)
	ROE	160.58	40.17	56.18	338.48	38.91	290.85	140.31	172.30	62.13	903.06

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2024 · latest quarter Dec 2025 · fundamentals updated 28 Sep 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
HCC Warrior Met Coal	$4.7B	22.4×	15.4×	+71.31% (above 0%: growing)	+1,400.00% (above 0%: growing)	+376.32% (above 0%: growing)	31.90%	18.54%	Compare
AMR Alpha Metallurgical Resources, Inc.	$2.2B	— (loss-making)	56.5×	−10.43% (below 0%: shrinking)	n/m	−128.43% (below 0%: shrinking)	9.98%	(2.13%)	Compare
SXC SunCoke Energy, Inc.	$827.5M	— (loss-making)	42.2×	+9.49% (above 0%: growing)	+650.00% (above 0%: growing)	−979.59% (below 0%: shrinking)	21.12%	6.10%	Compare
METCB Ramaco Resources, Inc.	$682.3M	— (loss-making)	—	−5.33% (below 0%: shrinking)	n/m	+22.91% (above 0%: growing)	11.48%	(12.60%)	Compare
METC Ramaco Resources, Inc.	$495.0M	— (loss-making)	— (loss-making)	−5.33% (below 0%: shrinking)	n/m	+22.91% (above 0%: growing)	11.48%	(12.60%)	Compare
AREC American Resources Corporation	$176.5M	2.4×	— (loss-making)	+84.87% (above 0%: growing)	n/m	−100.92% (below 0%: shrinking)	(341.28%)	(10,650.55%)
Median of peers	$827.5M	—	42.2×	−5.33%	—	+22.91%	11.48%	(2.13%)

All 6 Coking Coal stocks →

American Resources Corporation (AREC) key facts

American Resources Corporation (AREC) is a Coking Coal company in the Basic Materials sector, listed on Nasdaq.
As of October 9, 2026, AREC traded at $1.59, a market capitalization of $176.5 million.
Return on equity was 903.1% and debt-to-equity 0.19.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is −1.67 (distress zone) for fiscal 2024.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Sep 28, 2026.