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Rex American
(NYSE:REX)
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Rating:74Outperform
Price Target:
$46.00
▲(8.13% Upside)
Action:Reiterated
Date:09/06/26
The score is supported primarily by strong financial quality (high profitability in TTM and extremely low leverage) and a bullish earnings-call backdrop with constructive near-term profitability expectations and progress on expansion/CCS projects. Offsetting these positives are weaker technical momentum (price below key moving averages, negative MACD) and historical volatility in revenue and free cash flow, while valuation looks reasonable on P/E but lacks dividend support.
Positive Factors
Conservative balance sheet
Extremely low leverage gives REX substantial financial flexibility while it funds expansion and carbon capture projects. The company can absorb weaker ethanol conditions more readily than a highly indebted peer and can pursue growth without relying heavily on external financing.
Negative Factors
Revenue and earnings cyclicality
Volatile revenue reflects the sensitivity of REX's ethanol-linked business to changing industry economics and operating conditions. Even with strong current margins, uneven sales trends can make earnings less predictable and complicate long-term planning, reinvestment, and forecasting.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage gives REX substantial financial flexibility while it funds expansion and carbon capture projects. The company can absorb weaker ethanol conditions more readily than a highly indebted peer and can pursue growth without relying heavily on external financing.
Read all positive factors
Rex American Key Performance Indicators (KPIs)
Any
Average Selling Price Per Gallon of Ethanol
Indicates the revenue generated per gallon of ethanol sold, highlighting pricing power and market demand for ethanol products.
Indicates the revenue generated per gallon of ethanol sold, highlighting pricing power and market demand for ethanol products.
Data provided by:
The Fly
The FlyRex American (REX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.38B
Dividend YieldN/A
Average Volume (3M)170.99K
Price to Earnings (P/E)11.4
Beta (1Y)0.46
Revenue Growth5.65%
EPS Growth145.98%
CountryUS
Employees132
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)3.65
Shares Outstanding33,175,640
10 Day Avg. Volume182,709
30 Day Avg. Volume170,994
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)1.84
Price to Sales (P/S)1.73
P/FCF Ratio22.73
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.5
Revenue Forecast (FY)$769.34M
Rex American Business Overview & Revenue Model
Company Description
REX American Resources Corporation, along with its various subsidiaries, manufactures and distributes ethanol across the United States. The company's product portfolio extends to include corn, distillers grains, industrial-grade corn oil, gasoline...
How the Company Makes Money
REX makes money primarily through its equity interests in ethanol production plants, earning its share of the operating results generated by those facilities. The core revenue driver is the sale of ethanol produced by these plants, which is typica...
Rex American Earnings Call Summary
Earnings Call Date:Sep 02, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 26, 2026
Earnings Call Sentiment Positive
The call was strongly positive, supported by record second-quarter earnings per share, substantial year-over-year growth in gross profit and net income, a 24th consecutive profitable quarter, strong cash and no bank debt, and continued progress on the ethanol expansion and carbon capture projects. The main challenges were higher SG&A expenses, uncertainty around the Illinois pipeline approval timeline, remaining carbon capture permits, and the possibility of some RIN impact. These lowlights were limited relative to the breadth of the reported operational and financial achievements.Positive Updates
Record Second-Quarter Earnings Per Share
REX reported its highest second-quarter net income per share in company history at $1.06 per diluted share, compared with $0.22 in the second quarter of fiscal 2025.
Negative Updates
Higher Selling, General and Administrative Expenses
Selling, general and administrative expenses increased to $15.6 million from $6.2 million in the second quarter of fiscal 2025. Management attributed the increase primarily to higher incentive compensation tied to stronger results and restricted stock awards issued during the quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Second-Quarter Earnings Per Share
REX reported its highest second-quarter net income per share in company history at $1.06 per diluted share, compared with $0.22 in the second quarter of fiscal 2025.
Read all positive updates
Company Guidance
REX expects the added ethanol capacity at 1 Earth to come online before the end of 26 and remains on track to complete construction by the end of 2026; production is approximately 150 million gallons, with the next step 175 million and, after applying for a permit for 200 million, the company expects hopefully, early next year or middle of that to be close to 200 million gallons producing. At this early stage of the third quarter, REX expects to remain profitable and anticipates that third quarter result will be better than the same period last year. Ethanol export was almost 13% increase this year for 6 months, and the company expects that it will continue to increase; California is expected to have almost 695 million gallons consumption of E15.Rex American Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 684.53M | 650.49M | 642.49M | 833.38M | 855.00M | 774.80M |
| Gross Profit | 147.42M | 93.71M | 91.48M | 98.22M | 48.60M | 97.56M |
| EBITDA | 152.92M | 105.34M | 114.59M | 121.52M | 70.78M | 99.43M |
| Net Income | 120.56M | 82.95M | 58.17M | 60.94M | 27.70M | 52.36M |
Balance Sheet | ||||||
| Total Assets | 856.48M | 797.73M | 720.01M | 664.80M | 579.58M | 550.36M |
| Cash, Cash Equivalents and Short-Term Investments | 379.51M | 375.78M | 359.07M | 378.66M | 282.68M | 255.72M |
| Total Debt | 17.82M | 21.27M | 21.11M | 12.85M | 13.56M | 10.99M |
| Total Liabilities | 84.86M | 95.73M | 76.41M | 77.20M | 68.58M | 62.80M |
| Stockholders Equity | 673.62M | 610.71M | 560.34M | 513.92M | 447.98M | 430.79M |
Cash Flow | ||||||
| Free Cash Flow | 68.55M | 49.39M | -7.13M | 90.31M | 39.22M | 86.58M |
| Operating Cash Flow | 143.04M | 117.83M | 64.19M | 127.97M | 54.80M | 91.71M |
| Investing Cash Flow | -286.72M | -87.69M | -72.86M | 28.40M | -198.51M | 5.29M |
| Financing Cash Flow | -5.96M | -37.66M | -18.47M | -4.32M | -17.01M | -11.10M |
Rex American Technical Analysis
Negative
42.54
Price Trends
44.25
Negative
45.47
Negative
40.77
Positive
Market Momentum
-0.74
Positive
41.99
Neutral
47.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For REX, the sentiment is Negative. The current price of 42.54 is below the 20-day moving average (MA) of 42.93, below the 50-day MA of 44.25, and above the 200-day MA of 40.77, indicating a neutral trend. The MACD of -0.74 indicates Positive momentum. The RSI at 41.99 is Neutral, neither overbought nor oversold. The STOCH value of 47.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for REX.
Rex American Risk Analysis
Rex American disclosed 37 risk factors in its most recent earnings report. Rex American reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rex American Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.38B | 11.36 | 19.44% | ― | 5.65% | 145.98% | |
65 Neutral | $1.18B | 21.08 | 20.30% | 0.93% | 3.31% | 14.76% | |
62 Neutral | $1.08B | 8.63 | 15.54% | 3.34% | -21.51% | ― | |
62 Neutral | $1.44B | -528.50 | -0.22% | 2.49% | 7.63% | -104.57% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | $405.47M | -1.82 | -51.42% | ― | 121.37% | -264.53% | |
50 Neutral | $903.59M | -10.34 | -16.91% | 0.73% | -4.98% | -710.42% |
* Basic Materials Sector Average
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Rex American Corporate Events
Business Operations and StrategyExecutive/Board Changes
Rex American Approves New Executive Employment Agreements
Positive
Jul 1, 2026
In December 2025, REX American Resources engaged compensation consultant Pearl Meyer to review pay for its named executive officers and directors, culminating in Board approval on May 28, 2026, of new employment agreements effective February 1, 20...
Business Operations and StrategyExecutive/Board Changes
Rex American Adopts New Restricted Stock Unit Plan
Positive
Jun 12, 2026
On June 10, 2026, REX American Resources Corporation’s Compensation Committee approved a new form of Restricted Stock Unit Award Agreement to be used under its 2026 Incentive Plan for granting restricted stock units to eligible participants....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.