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American Resources (AREC) Financials

American Resources logo
$1.74 -0.03 (-1.69%)
Closing price 07/24/2026 04:00 PM Eastern
Extended Trading
$1.77 +0.03 (+1.49%)
As of 07/24/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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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 Corp. (NASDAQ: AREC) continues to show a highly challenged financial profile. Over the last several quarters, the company has generated very limited revenue while sustaining large operating losses, negative operating cash flow, and a balance sheet that remains burdened by substantial liabilities. There are a few positives in the most recent quarter, including a large cash increase and strong financing inflows, but the overall trend remains weak.

  • Q4 2025 ended with a cash and equivalents increase of $31.2 million, giving the company more liquidity in the near term.
  • The company also recorded net cash from financing activities of $72.1 million in Q4 2025, which helped boost cash on hand.
  • Q1 2025 showed a very large net change in cash of $150.3 million, largely driven by investing and financing activity rather than operations.
  • Revenue remains extremely inconsistent and low relative to the company’s expense base, ranging from $165 in Q3 2025 to $31.9 thousand in Q1 2025.
  • Q3 2025 operating revenue was only $165, which is effectively immaterial for a public company.
  • The company has continued to rely on non-operating sources of cash, including investment sales and financing inflows, rather than core business cash generation.
  • Q4 2025 operating cash flow was still negative at $(1.0) million, showing the core business did not generate cash.
  • Q3 2025 net income was a loss of $(7.7) million, and Q1 2025 net income was a loss of $(6.7) million.
  • The company has posted persistent quarterly operating losses, including $(4.4) million in Q3 2025 and $(5.0) million in Q1 2025.
  • The balance sheet remains weak, with total liabilities of $297.4 million versus total equity of $(95.1) million in Q3 2025.
  • Equity remains deeply negative, indicating the company is still in a financially strained position despite recent cash improvement.
  • Long-term obligations are still significant, including other noncurrent operating liabilities of $194.4 million in Q3 2025.
  • Common shareholders’ equity was negative in both Q1 and Q3 2025, underscoring ongoing balance sheet stress.

Overall: AREC’s recent quarters show a company that can still raise or generate cash through financing and asset activity, but its underlying operations remain unprofitable and cash-consuming. The biggest concern for investors is that revenue is too small and too erratic to absorb the company’s expense structure, while the balance sheet remains heavily leveraged and negative in equity.

07/26/26 02:34 AM ETAI Generated. May Contain Errors.

American Resources Financials - Frequently Asked Questions

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

American Resources' net income appears to be on a downward trend, with a most recent value of $55.39 million in 2025, falling from -$88.93 thousand in 2014. The previous period was -$39.20 million in 2024. See American Resources' forecast for analyst expectations on what's next for the company.

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

American Resources' total liabilities were at $75.72 million at the end of 2025, a 79.1% decrease from 2024, and a 2,523,859.3% increase since 2014.

In the past 10 years, American Resources' cash and equivalents has ranged from $3.32 thousand in 2019 to $31.70 million in 2025, and is currently $31.70 million as of their latest financial filing in 2025.

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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