Energy · Oil & Gas Refining & Marketing
Price
$1.69
Market Cap
$118.9M
Employees
223
Beta
1.38
Avg Volume
1,570,098
CEO
Eric A. McAfee
Business Description
Aemetis, Inc. is an enterprise specializing in renewable natural gas and sustainable fuels, conducting operations across North America and India. The company's business activities are structured into three primary divisions: California Ethanol, Dairy Renewable Natural Gas, and India Biodiesel. A core objective for Aemetis is the procurement, development, and market launch of innovative products and technologies that offer negative carbon intensity, serving as eco-friendly alternatives to traditional petroleum-based goods. Its biodiesel products are distributed to a diverse range of customers, including government oil marketing agencies, transportation companies, various resellers, distributors, and private refiners. These sales are facilitated through both its in-house sales team and independent sales agents, as well as via brokers who then supply end-users. Beyond biodiesel, the company also produces and markets ethanol. Furthermore, Aemetis creates and supplies valuable co-products for animal feed, such as wet distillers grains, distillers corn oil, and condensed distillers solubles, to dairies and feedlots. The company's offerings also encompass the generation of dairy biogas, the production and sale of high-grade alcohol, various feed products, and hand sanitizers. Aemetis actively invests in research and development, particularly focusing on advanced conversion technologies that transform waste feedstocks into biofuels and biochemicals. Founded in 2005, the company initially operated as AE Biofuels, Inc. before officially adopting the name Aemetis, Inc. in November 2011. Its corporate headquarters are located in Cupertino, California.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-1.32
Stock Price: $1.69
EPS (Diluted): -1.28
EPS (Diluted): -1.28
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-0.30
Stock Price: $1.69
Total Equity: -$306.83M
Shares: 65,785,000
Total Equity: -$306.83M
Shares: 65,785,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-19.19
Market Cap: $118.92M
Total Debt: $381.76M
Cash: $4.89M
EBITDA: -$24.41M
Total Debt: $381.76M
Cash: $4.89M
EBITDA: -$24.41M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$468.3M
Market Cap: $118.92M
Total Debt: $381.76M
Cash: $4.89M
Total Debt: $381.76M
Cash: $4.89M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.44
Stock Price: $1.69
Revenue: $207.98M
Shares: 65,785,000
Revenue: $207.98M
Shares: 65,785,000
EV/Sales (Total value vs revenue — works when P/E can't)
API2.25
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
-0.4%
Gross Profit: -$768,000
Revenue: $207.98M
Revenue: $207.98M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-17.9%
Operating Income: -$37.22M
Revenue: $207.98M
Revenue: $207.98M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-37.0%
Net Income: -$77.00M
Revenue: $207.98M
Revenue: $207.98M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
25.1%
Net Income: -$77.00M
Total Equity: -$306.83M
Total Equity: -$306.83M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-42.7%
Operating Income: -$37.22M
Tax Rate: 19.6%
Equity: -$306.83M
Total Debt: $381.76M
Cash: $4.89M
Tax Rate: 19.6%
Equity: -$306.83M
Total Debt: $381.76M
Cash: $4.89M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.07
Current Assets: $26.87M
Current Liabilities: $371.26M
Current Liabilities: $371.26M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-1.24
Short-Term Debt: $317.87M
Long-Term Debt: $63.90M
Total Debt: $381.76M
Total Equity: -$306.83M
Long-Term Debt: $63.90M
Total Debt: $381.76M
Total Equity: -$306.83M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$3.16
Revenue: $207.98M
Shares: 65,785,000
Shares: 65,785,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-4.66
Total Equity: -$306.83M
Shares: 65,785,000
Shares: 65,785,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.35
Operating CF: $3.26M
CapEx: -$26.00M
Shares: 65,785,000
CapEx: -$26.00M
Shares: 65,785,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.69
Stock Price: $1.69
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$77.00M
Net Income: -$77.00M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares AMTX against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 5:57pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $211.9M | $256.5M | $186.7M | $267.6M | $208.0M |
| Cost of Revenue | $204.0M | $262.0M | $184.7M | $268.2M | $208.7M |
| Gross Profit | $7.9M | -$5.5M | $2.0M | $-580,000 | $-768,000 |
| Operating Expenses | $23.8M | $28.9M | $39.4M | $39.8M | $36.5M |
| Operating Income | -$15.8M | -$34.4M | -$37.4M | -$40.4M | -$37.2M |
| Net Income | -$47.1M | -$107.8M | -$46.4M | -$87.5M | -$77.0M |
| EBITDA | -$21.6M | -$79.7M | -$34.8M | -$49.8M | -$24.4M |
| EPS | $-1.54 | $-3.12 | $-1.22 | $-1.91 | $-1.28 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 5:57pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $7.8M | $4.3M | $2.7M | $898,000 | $4.9M |
| Total Current Assets | $20.7M | $18.1M | $36.4M | $44.7M | $26.9M |
| Total Assets | $160.8M | $207.1M | $243.4M | $259.3M | $259.8M |
| Current Liabilities | $65.3M | $88.3M | $84.4M | $144.0M | $371.3M |
| Long-Term Debt | $166.0M | $197.0M | $257.7M | $247.5M | $63.9M |
| Total Liabilities | $281.1M | $409.0M | $460.4M | $523.2M | $566.7M |
| Total Equity | -$120.2M | -$201.9M | -$217.0M | -$263.9M | -$306.8M |
| Retained Earnings | -$321.2M | -$429.0M | -$475.4M | -$562.9M | -$639.9M |
Cash Flow (Annual)
Last updated: Jun 24, 2026 5:57pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$20.6M | -$22.9M | $13.8M | -$32.9M | $3.3M |
| Capital Expenditure | -$26.7M | -$39.2M | -$33.1M | -$20.3M | -$26.0M |
| Free Cash Flow | -$47.3M | -$62.0M | -$19.3M | -$53.2M | -$22.7M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $7.2M | $-752,000 | $-719,000 | -$2.4M | $4.1M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 10:07am (22h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$402.5M $387.7M – $422.4M
|
$625.5M $575.4M – $675.2M
|
$759.9M $699.0M – $820.3M
|
$1.1B $982.9M – $1.2B
|
| EBITDA |
-$72.7M -$76.3M – -$70.0M
|
-$113.0M -$122.0M – -$103.9M
|
-$137.2M -$148.1M – -$126.2M
|
-$193.0M -$208.3M – -$177.5M
|
| Net Income |
-$40.8M -$45.7M – -$20.3M
|
$56.1M $17.8M – $83.0M
|
$107.9M $96.6M – $119.0M
|
$188.8M $169.1M – $208.3M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 5:57pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +21.0% | -27.2% | +43.3% | -22.3% |
| Gross Profit Growth | -169.7% | +136.4% | -128.8% | -32.4% |
| Operating Income Growth | -117.4% | -8.7% | -8.1% | +7.9% |
| Net Income Growth | -128.6% | +56.9% | -88.6% | +12.0% |
| EBITDA Growth | -268.3% | +56.3% | -43.0% | +51.0% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for AMTX — it's generated by the pipeline (
market-narrative step).
No community reviews yet for AMTX.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30