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American Resources (AREC) Financials

American Resources logo
$1.22 -0.11 (-7.92%)
Closing price 04:00 PM Eastern
Extended Trading
$1.23 +0.01 (+1.15%)
As of 07:24 PM Eastern
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Annual Income Statements for American Resources

Annual Income Statements for American Resources

This table shows American Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2014 9/30/2015 12/31/2016 12/31/2017 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -0.09 -0.46 37 72 -47 -10 -32 7.58 -39 -39 55
Consolidated Net Income / (Loss)		 -0.09 -0.44 -22 -13 -71 -10 -32 -1.45 -39 -39 55
Net Income / (Loss) Continuing Operations		 -0.08 -0.42 37 71 -47 -10 -32 7.58 -39 -16 -18
Total Pre-Tax Income 		-0.08 -0.40 37 71 -47 -10 -32 -10 -39 -16 -18
Total Operating Income		 -0.08 -0.40 -22 -13 -60 -16 -28 -19 -36 -14 -11
Total Gross Profit		 0.00 0.00 18 60 -1.44 -4.05 -0.64 18 4.25 -0.50 -0.31
Total Revenue		 0.00 0.06 7.60 40 25 1.06 7.76 39 12 0.03 0.00
Operating Revenue		 - 0.06 7.60 40 25 1.06 7.76 39 12 0.03 0.00
Total Cost of Revenue		 0.00 0.06 -10 -20 26 5.11 8.40 22 7.58 0.53 0.31
Operating Cost of Revenue		 - 0.06 -10 -20 26 5.11 8.40 22 7.58 0.53 0.31
Total Operating Expenses		 0.08 0.40 -19 -12 50 12 28 46 41 14 11
Selling, General & Admin Expense		 0.04 0.13 -0.63 -2.07 12 3.56 5.27 5.12 12 13 10
Research & Development Expense		 - - -1.76 -6.85 7.24 4.00 18 28 11 0.43 0.11
Depreciation Expense		 - 0.03 -2.26 -2.08 -4.59 2.30 1.98 2.16 2.32 0.12 0.12
Other Operating Expenses / (Income)		 0.02 0.23 -14 -0.98 1.88 1.29 1.10 5.13 15 0.01 0.01
Other Special Charges / (Income)		 0.02 0.02 -0.07 0.15 0.00 - 0.00 4.51 -1.53 0.00 0.72
Total Other Income / (Expense), net		 0.00 0.00 -0.24 -0.74 4.32 6.19 -4.15 18 -2.35 -1.74 -6.53
Interest Expense		 - - 0.28 0.56 -2.25 3.37 4.15 1.43 1.99 1.52 6.96
Interest & Investment Income		 - - 0.00 0.30 - 0.21 0.23 16 -0.53 -0.33 0.49
Other Income / (Expense), net		 - - 0.05 -0.48 2.07 9.36 -0.23 3.44 0.17 0.11 -0.06
Net Income / (Loss) Discontinued Operations		 - -0.02 - - - - - - - -23 73
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 0.02 -0.05 -0.34 0.00 - - - -0.20 -0.09 -0.03
Diluted Earnings per Share		 $0.00 ($0.02) $0.00 ($16.39) ($2.94) - - - ($0.51) ($0.51) $0.63
Weighted Average Diluted Shares Outstanding		 19.02M 22.14M 0.00 792.39K 24.09M 29.36M 55.22M 78.21M 75.14M 77.22M 87.27M

Quarterly Income Statements for American Resources

This table shows American Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q3 2024 Q1 2025 Q3 2025
Period end date 9/30/2023 12/31/2023 3/31/2024 9/30/2024 3/31/2025 9/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 -8.21 -12 -6.94 -11 -6.65 -4.40
Consolidated Net Income / (Loss)		 -4.91 -15 -7.02 -11 -6.66 -7.70
Net Income / (Loss) Continuing Operations		 -5.51 -11 -7.02 -11 -6.66 -7.70
Total Pre-Tax Income 		-5.51 -11 -7.02 -11 -6.66 -7.70
Total Operating Income		 -3.70 -15 -6.73 -8.83 -4.98 -4.38
Total Gross Profit		 11 -12 -0.88 -0.20 -0.15 -0.07
Total Revenue		 12 -13 0.09 0.24 0.03 0.00
Operating Revenue		 12 -13 0.09 0.24 0.03 0.00
Total Cost of Revenue		 0.89 -0.79 0.98 0.44 0.18 0.07
Operating Cost of Revenue		 0.89 - 0.98 0.44 0.18 0.07
Total Operating Expenses		 11 4.38 5.85 8.63 4.83 4.32
Selling, General & Admin Expense		 4.16 2.49 4.67 6.65 3.38 2.80
Research & Development Expense		 3.60 -3.84 0.40 0.73 0.33 0.39
Depreciation Expense		 1.16 -0.03 0.55 0.57 0.51 0.52
Amortization Expense		 0.62 -0.33 0.31 0.31 0.30 0.30
Other Operating Expenses / (Income)		 1.86 7.62 0.26 0.25 0.25 0.25
Other Special Charges / (Income)		 - - -0.34 0.12 0.06 0.06
Total Other Income / (Expense), net		 -4.82 4.82 -0.29 -1.80 -1.67 -3.32
Interest Expense		 1.04 -0.24 0.66 1.97 1.75 1.98
Interest & Investment Income		 -0.47 0.78 0.27 -0.02 -0.01 0.00
Other Income / (Expense), net		 -3.30 3.80 0.10 0.19 0.09 -1.34
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 - -0.08 -0.02 -0.00 -3.30
Weighted Average Basic Shares Outstanding		 76.25M 0.00 76.89M - 82.27M 101.39M
Diluted Earnings per Share		 - - ($0.09) ($0.14) ($0.08) ($0.05)
Weighted Average Diluted Shares Outstanding		 76.25M 75.14M 76.37M 77.40M 78.95M 84.31M
Weighted Average Basic & Diluted Shares Outstanding		 152.49M 0.00 76.89M - 82.27M 101.39M

Annual Cash Flow Statements for American Resources

This table details how cash moves in and out of American Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2014 9/30/2015 12/31/2016 12/31/2017 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.03 0.36 0.78 -0.54 -2.44 11 1.39 2.16 -5.91 -0.96 34
Net Cash From Operating Activities		 -0.09 0.24 -5.82 -5.64 -19 -14 -29 2.16 -20 1.99 -10
Net Cash From Continuing Operating Activities		 -0.09 0.24 -9.36 -11 -17 -17 36 2.16 -20 1.99 -10
Net Income / (Loss) Continuing Operations		 -0.09 0.00 -22 -13 -71 -10 33 0.00 -39 23 -73
Net Income / (Loss) Discontinued Operations		 - - - - - - - - - -23 73
Depreciation Expense		 - 0.03 2.26 -2.08 4.59 1.86 1.98 2.16 2.32 0.12 0.12
Non-Cash Adjustments To Reconcile Net Income		 - 0.28 2.09 0.33 36 -1.71 2.79 - 18 -22 65
Changes in Operating Assets and Liabilities, net		 - -0.00 12 3.04 1.85 -3.65 -2.61 - -2.06 0.66 -2.28
Net Cash From Investing Activities		 0.08 -0.48 0.43 0.44 0.32 0.42 -5.92 0.00 -32 0.95 -39
Net Cash From Continuing Investing Activities		 0.08 -0.48 0.43 0.44 0.32 0.42 -5.92 0.00 -32 0.95 -39
Purchase of Investments		 -0.08 - - - - - - - -30 0.00 -34
Sale and/or Maturity of Investments		 - - - - - - - - 0.64 0.72 0.00
Other Investing Activities, net		 - - -4.85 0.61 -0.33 0.42 -5.92 - - 0.23 -5.04
Net Cash From Financing Activities		 0.20 0.63 6.17 4.67 16 24 36 -1.02 45 -4.35 81
Net Cash From Continuing Financing Activities		 0.20 -0.34 6.17 4.67 16 24 36 0.00 45 -4.35 81
Issuance of Debt		 - - 4.86 4.49 9.26 14 0.60 - 9.11 0.00 0.97
Issuance of Common Equity		 0.20 0.15 0.00 - - 0.00 -5.65 - - 0.00 68
Other Financing Activities, net		 - -0.49 1.62 -0.03 9.26 11 34 - 43 -4.35 12
Other Net Changes in Cash		 - - - - - - - - - 0.45 2.28

Quarterly Cash Flow Statements for American Resources

This table details how cash moves in and out of American Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q4 2024 Q1 2025 Q4 2025
Period end date 9/30/2023 12/31/2023 3/31/2024 12/31/2024 3/31/2025 12/31/2025
Net Change in Cash & Equivalents		 -70 -5.94 -0.32 -8.38 150 31
Net Cash From Operating Activities		 21 -20 -4.75 20 -1.43 -0.99
Net Cash From Continuing Operating Activities		 2.63 -20 -4.75 20 -1.43 -0.99
Net Income / (Loss) Continuing Operations		 - -39 -7.02 23 -6.66 -73
Depreciation Expense		 -2.36 2.29 0.55 -1.52 0.51 -1.42
Non-Cash Adjustments To Reconcile Net Income		 - - 1.16 2.78 0.57 83
Changes in Operating Assets and Liabilities, net		 - - 0.23 -3.70 3.68 -8.37
Net Cash From Investing Activities		 -0.62 -32 -144 121 152 -42
Net Cash From Continuing Investing Activities		 -0.62 -32 -144 121 152 -42
Purchase of Investments		 - - -143 150 -0.30 117
Sale and/or Maturity of Investments		 - - 0.10 -26 152 -155
Other Investing Activities, net		 - - -0.88 - 0.16 -4.16
Net Cash From Financing Activities		 -45 0.36 148 -149 0.08 72
Net Cash From Continuing Financing Activities		 -81 45 148 -149 0.08 72
Other Financing Activities, net		 - - 150 -154 0.00 -2.63

Annual Balance Sheets for American Resources

This table presents American Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2014 9/30/2015 9/30/2016 12/31/2017 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 0.11 1.13 0.10 16 35 38 43 56 65 282 169
Total Current Assets		 0.11 0.64 0.09 2.70 3.18 11 15 13 38 93 134
Cash & Equivalents		 0.03 0.09 0.05 0.19 0.00 11 11 11 1.32 0.20 32
Short-Term Investments		 0.03 0.05 0.04 - - - - 0.00 1.35 0.59 40
Note & Lease Receivable		 - - - - - - - - 0.00 0.09 0.09
Accounts Receivable		 - - 0.00 1.90 2.66 0.27 3.18 0.66 0.00 82 59
Prepaid Expenses		 - - - 0.00 0.00 0.18 0.62 0.79 1.73 0.62 2.64
Other Current Nonoperating Assets		 - - - - - - - - - -9.83 0.00
Plant, Property, & Equipment, net		 0.00 0.00 0.00 -3.75 -11 22 23 9.11 21 0.23 0.14
Total Noncurrent Assets		 0.00 0.49 0.01 17 43 4.70 4.67 34 6.26 189 34
Long-Term Investments		 - - - - - 0.00 2.50 19 3.48 1.71 32
Noncurrent Note & Lease Receivables		 - - - 4.24 4.12 4.12 0.35 0.10 0.38 0.28 0.00
Other Noncurrent Operating Assets		 - 0.12 - 13 39 0.00 0.73 13 2.41 2.55 2.14
Other Noncurrent Nonoperating Assets		 - - - 0.20 0.27 0.58 1.10 2.12 - 184 0.00
Total Liabilities & Shareholders' Equity		 0.11 1.13 0.10 16 35 38 43 56 65 282 169
Total Liabilities		 0.00 0.07 0.17 53 68 58 45 56 110 363 76
Total Current Liabilities		 0.00 0.07 0.17 35 45 21 17 27 78 166 61
Accounts Payable		 - 0.02 - 5.36 12 4.97 7.18 4.30 7.80 20 53
Accrued Expenses		 0.00 0.00 0.07 20 5.20 1.04 1.33 0.11 14 2.85 2.24
Other Current Liabilities		 - 0.01 0.01 0.21 0.13 3.92 2.18 11 45 7.20 6.21
Other Current Nonoperating Liabilities		 - - - - - - - - 0.49 137 0.05
Total Noncurrent Liabilities		 0.00 0.00 0.00 18 23 37 29 28 31 196 15
Long-Term Debt		 - - - 5.08 5.42 20 9.17 0.00 0.00 0.00 0.97
Other Noncurrent Operating Liabilities		 - - - 13 18 18 20 28 23 7.72 14
Other Noncurrent Nonoperating Liabilities		 - - - - - - - - - 188 0.00
Total Equity & Noncontrolling Interests		 0.11 1.06 -0.07 -37 -33 -20 -2.35 0.28 -45 -81 93
Total Preferred & Common Equity		 0.11 1.06 -0.07 -37 -33 -20 -2.35 0.28 -44 -79 95
Total Common Equity		 0.11 1.06 -0.07 -37 -33 -20 -2.35 0.28 -44 -79 95
Common Stock		 0.20 1.03 1.09 1.53 90 113 163 168 182 186 305
Retained Earnings		 -0.09 -0.51 -1.23 -39 -123 -133 -166 -167 -225 -266 -210
Noncontrolling Interest		 0.00 0.00 0.00 - - - - - -1.47 -1.56 -1.59

Quarterly Balance Sheets for American Resources

This table presents American Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q1 2025 Q3 2025
Period end date 3/31/2024 3/31/2025 9/30/2025
Total Assets		 216 204 202
Total Current Assets		 4.82 8.63 8.40
Cash & Equivalents		 2.17 0.02 2.08
Restricted Cash		 - 5.16 3.24
Short-Term Investments		 - 0.00 0.00
Note & Lease Receivable		 - 0.09 0.09
Accounts Receivable		 - 0.04 0.02
Inventories, net		 0.13 1.08 1.08
Prepaid Expenses		 2.52 1.13 1.17
Other Current Assets		 - 1.12 0.73
Plant, Property, & Equipment, net		 11 17 17
Total Noncurrent Assets		 200 178 177
Long-Term Investments		 4.22 1.74 152
Noncurrent Note & Lease Receivables		 0.10 0.28 0.00
Other Noncurrent Operating Assets		 18 176 25
Total Liabilities & Shareholders' Equity		 216 204 202
Total Liabilities		 236 289 297
Total Current Liabilities		 16 86 85
Short-Term Debt		 0.79 7.70 7.24
Accounts Payable		 2.31 8.96 4.76
Accrued Expenses		 0.15 0.55 0.39
Other Current Liabilities		 13 64 68
Other Current Nonoperating Liabilities		 - 4.56 4.38
Total Noncurrent Liabilities		 220 203 213
Long-Term Debt		 192 3.56 8.54
Capital Lease Obligations		 - 5.72 9.68
Other Noncurrent Operating Liabilities		 28 194 194
Total Equity & Noncontrolling Interests		 -20 -86 -95
Total Preferred & Common Equity		 -20 -84 -81
Total Common Equity		 -20 -84 -81
Common Stock		 165 188 195
Retained Earnings		 -185 -273 -276
Noncontrolling Interest		 - -1.56 -14

Annual Metrics And Ratios for American Resources

This table displays calculated financial ratios and metrics derived from American Resources' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 25,042,674.00 25,359,799.00 25,359,799.00 17,715,969.00 27,337,435.00 35,602,410.00 61,731,391.00 68,703,224.00 78,213,454.00 77,421,255.00 186,002,228.00
DEI Adjusted Shares Outstanding		 25,042,674.00 25,359,799.00 25,359,799.00 17,715,969.00 27,337,435.00 35,602,410.00 61,731,391.00 68,703,224.00 78,213,454.00 77,421,255.00 186,002,228.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.02 1.45 2.85 - -1.72 -0.29 -0.53 0.11 -0.49 -0.51 0.30
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 12,075.74% 426.92% 0.00% 0.00% -95.70% 631.85% 409.00% -70.05% -99.71% -100.00%
EBITDA Growth		 -337.68% -5,153.50% -50.20% -8.97% -45.33% 90.22% -490.13% 45.16% -134.65% 57.10% 19.58%
EBIT Growth		 -373.19% -5,324.51% -19.81% -79.43% -58.57% 87.76% -303.06% 43.81% -125.57% 61.03% 19.41%
NOPAT Growth		 -373.19% -7,665.42% 42.40% 25.96% -265.04% 72.57% -72.27% 31.22% -86.66% 60.91% 20.47%
Net Income Growth		 -399.78% -4,869.97% 42.99% 0.00% 0.00% 85.54% -216.85% 95.55% -2,578.68% -1.24% 241.27%
EPS Growth		 0.00% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 223.53%
Operating Cash Flow Growth		 366.64% -2,553.17% 2.96% 0.00% 0.00% 27.91% -110.09% 107.42% -1,004.58% 110.20% -622.74%
Free Cash Flow Firm Growth		 0.00% -1,624.11% 148.66% -1,260.31% 90.93% 10.14% -70.28% 120.81% 385.96% -765.79% 141.46%
Invested Capital Growth		 30,877.67% -111.41% -21,568.26% 300.00% -98.83% -262.17% -314.90% -726.00% -220.78% 175.46% -121.56%
Revenue Q/Q Growth		 36.33% 679.37% 82.25% 0.00% 0.00% -85.88% 146.21% 0.76% -59.69% 0.00% 0.00%
EBITDA Q/Q Growth		 -81.21% -18.28% -213.10% -31,909.41% 0.00% 89.21% -1.84% 25.86% -4.35% 0.00% 0.00%
EBIT Q/Q Growth		 -95.91% -22.70% -108.41% -3,050.21% 0.00% 84.32% 5.69% 14.35% -14.68% 0.00% 0.00%
NOPAT Q/Q Growth		 -95.91% -22.95% 4.16% -535.93% 0.00% 63.60% 6.46% 10.12% -30.97% 0.00% 0.00%
Net Income Q/Q Growth		 -111.10% -23.26% 5.17% 0.00% 0.00% 76.40% 1.93% 93.10% -163.83% 0.00% 0.00%
EPS Q/Q Growth		 -100.00% 100.00% -58.51% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 413.55% -253.16% -16.88% 0.00% 0.00% -43.93% 0.32% 109.17% -238.72% 105.37% 20.58%
Free Cash Flow Firm Q/Q Growth		 0.00% -13.82% 85.42% 0.00% 73.14% -614.45% 67.22% -75.90% 205.46% 0.00% 0.00%
Invested Capital Q/Q Growth		 92.76% -110.51% 9.05% 0.00% -98.92% 32.32% -107.28% -1,014.62% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 3.54% 234.35% 149.26% 0.00% -5.86% -381.96% -8.25% 45.06% 35.92% -1,458.24% 0.00%
EBITDA Margin		 -595.59% -256.98% -36.63% 0.00% -178.19% -405.07% -326.63% -35.19% -275.75% -41,049.91% 0.00%
Operating Margin		 -643.91% -287.47% -31.42% 0.00% -243.30% -1,552.09% -365.34% -49.37% -307.69% -41,734.72% 0.00%
EBIT Margin		 -643.91% -286.87% -65.23% 0.00% -234.89% -668.81% -368.35% -40.66% -306.25% -41,411.68% 0.00%
Profit (Net Income) Margin		 -711.94% -290.60% -31.44% 0.00% -287.79% -967.57% -418.90% -3.66% -327.57% -115,068.89% 0.00%
Tax Burden Percent		 110.57% -60.00% 76.81% 0.00% 150.63% 100.00% 100.00% 13.81% 100.00% 245.62% -310.55%
Interest Burden Percent		 100.00% -168.83% -442.54% 0.00% 81.34% 144.67% 113.72% 65.21% 106.96% 113.13% 156.85%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -61.15% -5,342.59% 0.00% 0.00% -271.58% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 69.71% -5,066.64% 0.00% 0.00% -335.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -14.85% 883.02% 0.00% 0.00% 934.46% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -76.00% -4,459.56% 67.63% 0.00% 662.88% 38.90% 290.70% 140.31% 173.19% 62.27% 902.63%
Cash Return on Invested Capital (CROIC)		 -130.80% 0.00% 0.00% 0.00% -76.19% 0.00% 0.00% 0.00% 0.00% -253.31% 0.00%
Operating Return on Assets (OROA)		 -64.80% -3,553.62% -318.80% 0.00% -328.59% -19.25% -70.28% -32.49% -60.02% -8.15% 0.00%
Return on Assets (ROA)		 -71.65% -3,599.83% -307.32% 0.00% -402.61% -27.85% -79.93% -2.93% -64.20% -22.64% 0.00%
Return on Common Equity (ROCE)		 -75.81% -4,443.24% 136.00% 0.00% 662.88% 38.90% 290.70% 140.31% 167.48% 60.77% 1,134.31%
Return on Equity Simple (ROE_SIMPLE)		 -41.92% 0.00% 33.88% - 216.84% 51.25% 1,385.13% -507.80% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.28 -22 -13 -11 -42 -12 -20 -14 -25 -9.95 -7.92
NOPAT Margin		 -450.74% -287.47% -31.42% 0.00% -170.31% -1,086.46% -255.74% -34.56% -215.39% -29,214.30% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -130.86% -275.95% 52.96% 0.00% 63.48% -4.80% 130.60% 121.22% -68.83% 53.02% -500.47%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 100.74% 12.30% -8.41%
Cost of Revenue to Revenue		 96.46% -134.35% -98.52% 0.00% 105.86% 481.96% 108.25% 54.94% 64.08% 1,558.24% 0.00%
SG&A Expenses to Revenue		 201.93% -8.28% -10.35% 0.00% 48.15% 336.26% 67.98% 12.98% 103.30% 38,604.38% 0.00%
R&D to Revenue		 0.00% -23.16% -34.21% 0.00% 29.37% 377.36% 233.37% 71.27% 95.70% 1,276.18% 0.00%
Operating Expenses to Revenue		 647.44% -253.12% 150.50% 0.00% 202.73% 1,170.13% 357.09% 117.28% 343.62% 40,276.48% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.40 -22 -26 -37 -58 -7.09 -29 -16 -36 -14 -11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.37 -20 -29 -30 -44 -4.29 -25 -14 -33 -14 -11
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 304.82 0.00 0.00 2.65
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 304.82 0.00 0.00 2.65
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.70 65.51 14.33 2.20 9.86 2,295.14 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11.45 0.00 0.00 4.54
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8.73% 0.00% 0.00% 22.04%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 141.98 0.00 0.00 0.00 0.00 1.55 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 2.05 84.40 14.46 1.74 8.13 2,176.07 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 31.90 0.00 37.22 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 18.36 5.27 0.00 2.91
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 -0.70 -0.79 0.00 -1.02 -1.53 -6.41 41.11 -0.44 0.00 0.01
Long-Term Debt to Equity		 0.00 0.00 -0.14 0.00 -0.17 -0.98 -3.91 0.00 -0.20 0.00 0.01
Financial Leverage		 -0.21 -0.17 -0.38 0.00 -2.79 -1.00 -0.87 9.76 0.86 -0.88 2.06
Leverage Ratio		 1.06 1.24 -0.88 0.00 -1.08 -1.40 -3.64 -47.94 -2.70 -2.75 36.71
Compound Leverage Factor		 1.06 -2.09 4.79 0.00 -0.88 -2.02 -4.14 -31.26 -2.89 -3.11 57.59
Debt to Total Capital		 0.00% -232.27% -131.26% 0.00% 5,334.16% 288.31% 118.50% 97.63% -78.05% 0.00% 1.03%
Short-Term Debt to Total Capital		 0.00% -232.27% -42.99% 0.00% 4,467.48% 103.52% 46.18% 97.63% -43.10% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% -45.29% 0.00% 866.68% 184.79% 72.32% 0.00% -34.95% 0.00% 1.03%
Preferred Equity to Total Capital		 0.00% 0.00% -0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.17% -8.46% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.83% 1.93% -1.69%
Common Equity to Total Capital		 99.83% 340.73% 333.04% 0.00% -5,234.16% -188.31% -18.50% 2.37% 172.22% 98.07% 100.66%
Debt to EBITDA		 0.00 0.00 -1.00 0.00 -0.76 -7.14 -0.59 -0.84 -0.61 0.00 -0.09
Net Debt to EBITDA		 0.00 0.00 -1.98 0.00 -0.76 -4.66 -0.04 1.29 0.58 0.00 9.21
Long-Term Debt to EBITDA		 0.00 0.00 -0.69 0.00 -0.12 -4.57 -0.36 0.00 -0.27 0.00 -0.09
Debt to NOPAT		 0.00 0.00 -1.17 0.00 -0.79 -2.66 -0.76 -0.86 -0.77 0.00 -0.12
Net Debt to NOPAT		 0.00 0.00 -2.31 0.00 -0.79 -1.74 -0.05 1.32 0.74 0.00 13.08
Long-Term Debt to NOPAT		 0.00 0.00 -0.81 0.00 -0.13 -1.71 -0.46 0.00 -0.35 0.00 -0.12
Altman Z-Score		 0.00 0.00 0.00 0.00 -10.88 -5.03 -5.99 -3.81 -6.65 -1.67 0.55
Noncontrolling Interest Sharing Ratio		 0.26% 0.37% -0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 3.30% 2.41% -25.67%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 9.46 0.54 0.15 0.00 0.07 0.54 0.93 0.47 0.48 0.56 2.19
Quick Ratio		 2.04 0.51 0.06 0.00 0.06 0.52 0.89 0.42 0.03 0.50 2.15
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1.21 -21 24 -130 -12 -11 -18 3.75 18 -121 50
Operating Cash Flow to CapEx		 0.00% -17,008.75% -6,509.26% 0.00% 0.00% 0.00% 0.00% 0.00% -935.05% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -73.43 43.03 0.00 0.00 -3.14 -4.34 2.63 9.17 -79.72 7.23
Operating Cash Flow to Interest Expense		 0.00 -20.51 -10.10 0.00 0.00 -4.11 -7.01 1.51 -9.82 1.31 -1.50
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -20.63 -20.82 0.00 0.00 -4.11 -7.01 1.51 -10.87 1.31 -1.50
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.10 12.39 9.77 0.00 1.40 0.03 0.19 0.80 0.20 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 42.10 0.00 0.00 0.72 4.50 20.58 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 15.33 0.00 0.00 26.27 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.34 2.47 0.79 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.61 1.38 3.78 1.25 0.04 0.01
Days Sales Outstanding (DSO)		 0.00 0.00 17.34 0.00 0.00 504.96 81.15 17.74 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 23.80 0.00 0.00 13.89 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 597.84 264.05 96.55 291.48 9,444.28 43,074.64
Cash Conversion Cycle (CCC)		 0.00 0.00 17.34 0.00 0.00 -69.08 -182.89 -78.81 -277.58 -9,444.28 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.92 -0.11 -23 31 0.36 -0.58 -2.40 -20 -63 48 -10
Invested Capital Turnover		 0.14 18.58 -6.99 0.00 1.59 -9.58 -5.22 -3.56 -0.28 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.93 -1.03 -42 160 -30 -0.93 -1.82 -17 -44 111 -58
Enterprise Value (EV)		 0.00 0.00 0.00 0.00 51 89 112 69 96 74 146
Market Capitalization		 0.00 0.00 0.00 0.00 17 69 111 87 117 78 251
Book Value per Share		 $0.04 $0.00 ($4.40) ($5.41) ($1.20) ($0.56) ($0.04) $0.00 ($0.56) ($1.03) $0.93
Tangible Book Value per Share		 $0.03 $0.00 ($4.40) ($8.12) ($1.20) ($0.56) ($0.04) $0.00 ($0.56) ($1.03) $0.93
Total Capital		 1.06 -0.02 -67 39 0.62 11 13 12 -25 -81 94
Total Debt		 0.00 0.05 44 66 33 31 15 12 20 0.00 0.97
Total Long-Term Debt		 0.00 0.00 10 16 5.42 20 9.17 0.00 8.83 0.00 0.97
Net Debt		 -0.14 -0.03 44 59 33 20 1.03 -18 -19 -2.50 -104
Capital Expenditures (CapEx)		 -0.49 0.03 0.35 0.00 0.00 0.00 0.00 0.00 2.09 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.44 -0.11 -47 -31 -14 -9.34 -6.87 -14 -65 -74 0.88
Debt-free Net Working Capital (DFNWC)		 0.58 -0.03 -46 -16 -14 1.28 4.62 -2.96 -30 -74 73
Net Working Capital (NWC)		 0.58 -0.08 -98 -67 -42 -9.72 -1.24 -15 -40 -74 73
Net Nonoperating Expense (NNE)		 0.16 0.24 0.01 2.52 29 -1.26 13 -12 13 29 -63
Net Nonoperating Obligations (NNO)		 -0.14 -0.03 14 58 33 19 -0.05 -20 -18 129 -104
Total Depreciation and Amortization (D&A)		 0.03 2.27 -3.21 -5.88 14 2.79 3.24 2.16 3.61 0.12 0.12
Debt-free, Cash-free Net Working Capital to Revenue		 700.72% -1.46% -116.16% 0.00% -56.48% -881.19% -88.65% -35.05% -547.94% -218,056.72% 0.00%
Debt-free Net Working Capital to Revenue		 923.13% -0.36% -115.23% 0.00% -56.46% 120.76% 59.55% -7.50% -250.18% -215,741.45% 0.00%
Net Working Capital to Revenue		 923.13% -1.02% -163.39% 0.00% -169.74% -917.06% -15.95% -37.15% -342.33% -215,741.45% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.02) ($0.03) $0.00 ($3.69) $0.00 ($0.35) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 25.04M 25.21M 0.00 3.40M 0.00 50.80M 0.00 78.21M 75.42M 0.00 0.00
Adjusted Diluted Earnings per Share		 ($0.02) ($0.03) $0.00 ($3.69) $0.00 ($0.35) $0.00 $0.00 $0.00 $0.00 $0.63
Adjusted Weighted Average Diluted Shares Outstanding		 25.04M 25.21M 0.00 3.40M 0.00 50.80M 0.00 78.21M 0.00 0.00 87.27M
Adjusted Basic & Diluted Earnings per Share		 ($0.02) ($0.03) $0.00 ($3.69) $0.00 ($0.35) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 22.14M 25.10M 0.00 3.51M 0.00 29.36M 0.00 78.21M 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -0.27 -16 -8.88 -8.05 -23 -12 -20 -10 -27 -9.95 -7.41
Normalized NOPAT Margin		 -429.48% -206.59% -22.18% 0.00% -91.66% -1,086.46% -255.74% -26.56% -224.44% -29,214.30% 0.00%
Pre Tax Income Margin		 -643.91% 484.34% 355.20% 0.00% -191.06% -967.57% -418.90% -26.51% -327.57% -46,848.14% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 -76.90 -23.38 0.00 0.00 -2.10 -6.88 -11.25 -18.21 -9.27 -1.63
NOPAT to Interest Expense		 0.00 -77.06 -38.29 0.00 0.00 -3.41 -4.78 -9.57 -12.81 -6.54 -1.14
EBIT Less CapEx to Interest Expense		 0.00 -77.02 -47.38 0.00 0.00 -2.10 -6.88 -11.25 -19.26 -9.27 -1.63
NOPAT Less CapEx to Interest Expense		 0.00 -77.18 -38.91 0.00 0.00 -3.41 -4.78 -9.57 -13.86 -6.54 -1.14
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for American Resources

This table displays calculated financial ratios and metrics derived from American Resources' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q3 2024 Q1 2025 Q3 2025
Period end date 9/30/2023 12/31/2023 3/31/2024 9/30/2024 3/31/2025 9/30/2025
DEI Shares Outstanding		 78,213,454.00 78,213,454.00 78,213,454.00 77,422,390.00 77,421,255.00 82,274,703.00
DEI Adjusted Shares Outstanding		 78,213,454.00 78,213,454.00 78,213,454.00 77,422,390.00 77,421,255.00 82,274,703.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.10 -0.15 -0.09 -0.14 -0.09 -0.05
Growth Metrics		 - - - - - -
Revenue Growth		 22.04% -355.95% -98.94% -97.97% -66.04% -99.93%
EBITDA Growth		 -182.00% -40.03% -158.67% 17.05% 31.73% 36.90%
EBIT Growth		 -52.35% -67.18% -160.94% -23.41% 26.18% 33.81%
NOPAT Growth		 20.11% -127.64% -155.40% -138.61% 25.95% 50.35%
Net Income Growth		 6.00% -267.85% -126.42% -116.29% 5.20% 27.53%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 11.11% 64.29%
Operating Cash Flow Growth		 638.41% -239.25% 35.31% 0.00% 69.80% 0.00%
Free Cash Flow Firm Growth		 -101.55% 159.96% -111.38% -1,347.57% 6,121.64% 3,652.58%
Invested Capital Growth		 0.00% -220.78% -55.02% 0.00% -569.41% 0.00%
Revenue Q/Q Growth		 195.03% -208.45% -93.46% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 28.16% 1.29% 88.03% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 53.68% -64.68% 86.82% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 74.83% -314.55% 86.99% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 68.59% -206.71% 92.39% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 253.48% -192.38% 76.40% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 93.62% 7,816.27% -113.51% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 83.15% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - -
Gross Margin		 92.32% 0.00% -938.57% -85.85% -470.03% -41,374.55%
EBITDA Margin		 -80.68% 0.00% -6,115.71% -3,299.06% -12,294.90% -2,970,403.03%
Operating Margin		 -31.88% 0.00% -7,158.32% -3,750.14% -15,608.84% -2,656,743.03%
EBIT Margin		 -60.36% 0.00% -7,055.25% -3,671.50% -15,337.65% -3,467,548.48%
Profit (Net Income) Margin		 -42.33% 0.00% -7,467.77% -4,513.38% -20,847.68% -4,667,098.79%
Tax Burden Percent		 89.15% 132.63% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 78.67% 98.49% 105.85% 122.93% 135.92% 134.59%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 173.19% 1,925.58% 0.00% 151.62% 0.00%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% -906.97% 0.00% -16.17% 0.00%
Return on Assets (ROA)		 0.00% 0.00% -960.00% 0.00% -21.97% 0.00%
Return on Common Equity (ROCE)		 0.00% 167.48% 1,925.58% 0.00% 149.37% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -2.59 -11 -4.71 -6.18 -3.49 -3.07
NOPAT Margin		 -22.32% 0.00% -5,010.83% -2,625.10% -10,926.19% -1,859,720.12%
Net Nonoperating Expense Percent (NNEP)		 0.00% -22.48% -92.37% 0.00% 26.61% -7.26%
Return On Investment Capital (ROIC_SIMPLE)		 - 42.48% -2.72% - 5.08% 4.41%
Cost of Revenue to Revenue		 7.68% 0.00% 1,038.57% 185.85% 570.03% 41,474.55%
SG&A Expenses to Revenue		 35.83% 0.00% 4,966.04% 2,823.87% 10,586.14% 1,696,378.18%
R&D to Revenue		 31.05% 0.00% 427.99% 310.73% 1,019.52% 233,606.67%
Operating Expenses to Revenue		 98.30% 0.00% 6,219.76% 3,664.29% 15,138.80% 2,615,368.48%
Earnings before Interest and Taxes (EBIT)		 -7.00 -12 -6.63 -8.64 -4.90 -5.72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -9.36 -9.24 -5.75 -7.77 -3.93 -4.90
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 4.45 9.86 6.46 0.00 163.54 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 8.13 17.40 0.00 201.93 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 5.27 0.00 0.00 1.16 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 -0.44 -9.76 0.00 -0.20 -0.27
Long-Term Debt to Equity		 0.00 -0.20 -9.72 0.00 -0.11 -0.19
Financial Leverage		 0.00 0.86 0.40 0.00 -0.23 1.34
Leverage Ratio		 0.00 -2.70 -21.33 0.00 -3.98 -2.13
Compound Leverage Factor		 0.00 -2.66 -22.57 0.00 -5.41 -2.87
Debt to Total Capital		 0.00% -78.05% 111.42% 0.00% -24.73% -36.60%
Short-Term Debt to Total Capital		 0.00% -43.10% 0.46% 0.00% -11.21% -10.41%
Long-Term Debt to Total Capital		 0.00% -34.95% 110.96% 0.00% -13.52% -26.19%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 5.83% 0.00% 0.00% 2.28% 20.67%
Common Equity to Total Capital		 0.00% 172.22% -11.42% 0.00% 122.45% 115.92%
Debt to EBITDA		 0.00 -0.61 -2.62 0.00 -0.60 0.00
Net Debt to EBITDA		 0.00 0.58 -2.53 0.00 -0.36 0.00
Long-Term Debt to EBITDA		 0.00 -0.27 -2.61 0.00 -0.33 0.00
Debt to NOPAT		 0.00 -0.77 -3.59 0.00 -0.77 0.00
Net Debt to NOPAT		 0.00 0.74 -3.47 0.00 -0.46 0.00
Long-Term Debt to NOPAT		 0.00 -0.35 -3.58 0.00 -0.42 0.00
Altman Z-Score		 0.00 -5.39 -1.00 0.00 -2.33 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 3.30% 0.00% 0.00% 1.48% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.00 0.48 0.30 0.00 0.10 0.10
Quick Ratio		 0.00 0.03 0.14 0.00 0.00 0.03
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 -0.43 33 -0.95 -6.18 57 220
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -0.41 0.00 -1.43 -3.14 32.48 110.88
Operating Cash Flow to Interest Expense		 20.29 0.00 -7.17 0.00 -0.82 0.00
Operating Cash Flow Less CapEx to Interest Expense		 20.29 0.00 -6.57 0.00 -0.82 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.20 0.13 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 26.27 14.21 0.00 2.93 0.00
Fixed Asset Turnover		 0.00 0.79 1.67 0.00 0.02 0.00
Accounts Payable Turnover		 0.00 1.25 4.56 0.00 0.31 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 13.89 25.69 0.00 124.72 0.00
Days Payable Outstanding (DPO)		 0.00 291.48 79.96 0.00 1,162.81 0.00
Cash Conversion Cycle (CCC)		 0.00 -277.58 -54.27 0.00 -1,038.09 0.00
Capital & Investment Metrics		 - - - - - -
Invested Capital		 0.00 -63 -11 0.00 -71 -223
Invested Capital Turnover		 0.00 -0.28 -1.96 0.00 -0.01 0.00
Increase / (Decrease) in Invested Capital		 -2.16 -44 -3.77 0.00 -60 -223
Enterprise Value (EV)		 0.00 96 297 0.00 45 76
Market Capitalization		 131 117 110 70 36 222
Book Value per Share		 $0.00 ($0.56) ($0.25) $0.00 ($1.09) ($0.98)
Tangible Book Value per Share		 $0.00 ($0.56) ($0.25) $0.00 ($1.09) ($0.98)
Total Capital		 0.00 -25 173 0.00 -69 -70
Total Debt		 0.00 20 193 0.00 17 25
Total Long-Term Debt		 0.00 8.83 192 0.00 9.28 18
Net Debt		 0.00 -19 187 0.00 10 -132
Capital Expenditures (CapEx)		 0.00 0.00 -0.40 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -65 -13 0.00 -75 -74
Debt-free Net Working Capital (DFNWC)		 0.00 -30 -10 0.00 -70 -69
Net Working Capital (NWC)		 0.00 -40 -11 0.00 -77 -76
Net Nonoperating Expense (NNE)		 2.32 4.33 2.31 4.45 3.17 4.63
Net Nonoperating Obligations (NNO)		 0.00 -18 9.19 0.00 15 -128
Total Depreciation and Amortization (D&A)		 -2.36 2.29 0.88 0.88 0.97 0.82
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -547.94% -73.31% 0.00% -33,827.55% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% -250.18% -60.61% 0.00% -31,485.32% 0.00%
Net Working Capital to Revenue		 0.00% -342.33% -65.25% 0.00% -34,966.30% 0.00%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 76.25M 0.00 77.39M 0.00 82.27M 101.39M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.08) ($0.05)
Adjusted Weighted Average Diluted Shares Outstanding		 76.25M 75.14M 77.39M 0.00 78.95M 84.31M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 152.49M 0.00 76.89M 0.00 82.27M 101.39M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.59 -11 -4.95 -6.10 -3.45 -3.03
Normalized NOPAT Margin		 -22.32% 0.00% -5,264.09% -2,589.13% -10,796.44% -1,834,056.42%
Pre Tax Income Margin		 -47.48% 0.00% -7,467.77% -4,513.38% -20,847.68% -4,667,098.79%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -6.72 0.00 -10.01 -4.40 -2.79 -2.89
NOPAT to Interest Expense		 -2.48 0.00 -7.11 -3.14 -1.99 -1.55
EBIT Less CapEx to Interest Expense		 -6.72 0.00 -9.41 0.00 -2.79 0.00
NOPAT Less CapEx to Interest Expense		 -2.48 0.00 -6.51 0.00 -1.99 0.00
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

American Resources’ financial statements show a company that remains heavily reliant on financing and investment transactions rather than operating revenue. Revenue declined from $11.6 million in Q3 2023 to just $235,000 in Q3 2024, $31,927 in Q1 2025 and $165 in Q3 2025. The 2023 and 2024 figures include restated or calculated data, so the comparisons should be treated cautiously, but the more recent figures still indicate minimal operating activity.

Profitability remains weak. American Resources reported net losses attributable to common shareholders of $6.7 million in Q1 2025 and $4.4 million in Q3 2025, compared with a $10.6 million loss in Q3 2024. Although the quarterly loss and diluted loss per share improved, revenue in Q3 2025 was insufficient to cover the $68,433 cost of revenue, producing a gross loss of $68,268 before more than $4.3 million of operating expenses.

The balance sheet is also highly leveraged. From Q1 2024 to Q3 2025, total liabilities increased from $235.9 million to $297.4 million, while total equity deteriorated from negative $19.8 million to negative $95.1 million. Cash flow from operations remained negative in the periods provided, although the Q4 2025 outflow of approximately $1.0 million was an improvement from the $1.4 million outflow in Q1 2025 and the $19.5 million outflow in Q4 2023.

  • Operating cash burn moderated. Net cash used in operating activities improved from $4.8 million in Q1 2024 to $1.4 million in Q1 2025 and $1.0 million in Q4 2025, suggesting somewhat better near-term cash management despite continued losses.
  • Reported losses narrowed during 2025. The net loss attributable to common shareholders improved from $6.7 million in Q1 2025 to $4.4 million in Q3 2025, while diluted EPS improved from negative $0.08 to negative $0.05.
  • SG&A expense declined. Selling, general and administrative expense fell from $6.65 million in Q3 2024 to $2.80 million in Q3 2025, which could help reduce the company’s cash requirements if the trend continues.
  • Investment assets increased substantially. Long-term investments rose from $4.2 million in Q1 2024 to $152.1 million in Q3 2025. These assets may provide liquidity or strategic value, although their quality, valuation and convertibility into cash are important considerations.
  • Cash levels were volatile but remained limited. Cash and equivalents fell from $2.17 million in Q1 2024 to $24,623 in Q1 2025 before recovering to $2.08 million in Q3 2025. Including restricted cash, Q3 2025 liquidity was approximately $5.3 million, but restricted funds may not be freely available for general corporate purposes.
  • Cash flow has been driven by transactions rather than operations. Q1 2025 investing cash flow included $151.8 million of proceeds from investment sales, while Q4 2025 financing provided $72.1 million and investing activities used $42.1 million. These movements can materially change reported cash without demonstrating sustainable operating performance.
  • Revenue has effectively collapsed. Operating revenue declined to only $165 in Q3 2025, while the company continued to incur millions of dollars in operating expenses. A sustained lack of revenue would make a return to profitability difficult without a major change in operations.
  • The company continues to generate gross and operating losses. Q3 2025 produced a gross loss of $68,268 and an operating loss of $4.4 million. Interest expense of $2.0 million further increased the pressure on earnings.
  • Negative equity and rising liabilities create significant financial risk. Total liabilities exceeded total assets by approximately $95.1 million in Q3 2025, compared with a $19.8 million deficit in Q1 2024. This indicates substantial balance-sheet weakness and potential dependence on refinancing, asset sales or additional capital.
  • Financing dependence may increase dilution and debt risk. Financing provided $148.2 million in Q1 2024 and $72.1 million in Q4 2025, while operating cash flow was negative. Continued reliance on external capital could increase interest expense, debt obligations or the number of shares outstanding.

Overall, the statements present a high-risk financial profile. Cost reductions and narrower quarterly losses are constructive, but they have not yet translated into positive operating cash flow or meaningful revenue. Investors should closely monitor whether American Resources can generate recurring operating revenue, reduce its liability burden and fund operations without repeated asset sales, borrowing or equity issuance.

10/14/26 07:18 PM ETAI Generated. May Contain Errors.

American Resources Financials - Frequently Asked Questions

According to the most recent income statement we have on file, American Resources' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

American Resources' net income appears to be on an upward trend, with a most recent value of $55.39 million in 2025, compared with -$88.93 thousand in 2014. The previous period was -$39.20 million in 2024. See where experts think American Resources is headed by visiting American Resources' forecast page.

American Resources' total operating income in 2025 was -$11.31 million, based on the following breakdown:
  • Total Gross Profit: -$306.64 thousand
  • Total Operating Expenses: $11.00 million

Over the last 11 years, American Resources' total revenue changed from $0.00 in 2014 to $0.00 in 2025, a change of 0.0%.

In the past 6 quarters, American Resources' cash and equivalents has ranged from $24.62 thousand in Q1 2025 to $2.17 million in Q1 2024, and is currently $2.08 million as of their latest financial filing in Q3 2025.

American Resources had total debt of $965.29 thousand at the end of 2025, compared with none in 2024, and none in 2015.

Over the last 10 years, American Resources' book value per share changed from 0.04 in 2015 to 0.93 in 2025, a change of 2,038.9%.


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Financial statements for NASDAQ:AREC last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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