Education
About Us
Working with TipRanks
Follow Us
Aemetis (AMTX)
NASDAQ:AMTX
Top Page
Aemetis
(NASDAQ:AMTX)
Rating:48Neutral
Price Target:
$1.50
▼( -14.77% Downside)
Positive Factors
Growth Prospects
Aemetis has a strong 5-year financial plan aiming to reach $1 billion in revenue by 2026, indicating confidence in significant growth potential.
India Operations
The company is getting closer to monetizing its India biodiesel business via an IPO, which could materially improve the company's balance sheet profile.
Strategic Investments
The U.S. Citizenship and Immigration Services approved $200 million of EB-5 program investment for Aemetis's sustainable projects, which supports future growth.
Negative Factors
Earnings Performance
Aemetis reported its fiscal Q4 2024 revenue at $47 million, which was significantly lower than the previous year and below both analyst estimates and consensus expectations.
Regulatory Uncertainty
Realizing Inflation Reduction Act (IRA) 45Z Production Tax Credits (PTC) in 2025 is partly dependent on the IRS releasing the calculation guideline for RNG, with limited clarity on the timeline.
Aemetis (AMTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$97.45M
Dividend YieldN/A
Average Volume (3M)986.98K
Price to Earnings (P/E)―
Beta (1Y)2.44
Revenue Growth-7.51%
EPS Growth-67.44%
CountryUS
Employees223
SectorEnergy
Sector Strength46
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)-0.47
Shares Outstanding55,369,358
10 Day Avg. Volume1,371,461
30 Day Avg. Volume986,980
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)-0.22
Price to Sales (P/S)0.00
P/FCF Ratio-1.29
Enterprise Value/Market Cap4.17
Enterprise Value/Revenue0.37
Enterprise Value/Gross Profit-699.90
Enterprise Value/Ebitda-3.13
Forecast
1Y Price Target
$12.80Price Target Upside627.27% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
Aemetis Business Overview & Revenue Model
Company DescriptionAemetis, Inc. (NASDAQ: AMTX) is a renewable fuels and biochemicals company that focuses on the production of advanced renewable fuels and bioproducts. The company operates in the renewable energy and industrial biotechnology sectors, developing and commercializing technologies to replace traditional petroleum-based products. Aemetis's core products include ethanol, biodiesel, and renewable jet fuel, along with biochemicals and renewable natural gas (RNG).
How the Company Makes MoneyAemetis generates revenue primarily through the sale of renewable fuels, such as ethanol and biodiesel, which are produced at its biorefineries and sold to industries that require cleaner energy solutions. The company's revenue streams include the sale of ethanol produced at its Keyes, California plant, and biodiesel produced in its India facility. Additionally, Aemetis earns from the production and sale of renewable natural gas and other biochemicals. The company benefits from government incentives, such as tax credits and renewable fuel standards that mandate the blending of renewable fuels with fossil fuels. Aemetis's strategic partnerships and collaborations with technology developers and industrial firms also enhance its ability to commercialize innovative fuel solutions, thus contributing to its earnings.
Aemetis Financial Statement Overview
Summary
Aemetis faces severe financial challenges. The income statement shows consistent losses and low profit margins. The balance sheet is weak, with negative equity indicating high leverage and financial instability. Cash flow is negative, with slight improvements but still insufficient for robust financial health.Income Statement
Aemetis exhibits volatile revenue trends with a recent revenue growth of 43.4% from 2023 to 2024, yet it has a history of fluctuating revenues. The gross profit margin is negative at -0.22%, indicating challenges in covering production costs, while net profit margins are deeply negative at -32.7%, reflecting significant losses. EBIT and EBITDA margins are also negative, highlighting ongoing operational inefficiencies.35
Negative
Balance Sheet
The balance sheet shows significant weaknesses, with a negative stockholders' equity of -$119.96 million, reflecting a highly leveraged position. The debt-to-equity ratio cannot be calculated due to negative equity, indicating financial instability. The equity ratio is also negative, further emphasizing the lack of financial robustness and high risk of insolvency.25
Negative
Cash Flow
Aemetis has negative free cash flow, though it improved slightly from 2023. The operating cash flow to net income ratio is negative, showing that the company struggles to convert sales into cash. Despite these challenges, the company has managed to maintain some level of financing activities to offset cash deficits.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 267.64M | 186.72M | 256.51M | 211.95M | 165.56M | Gross Profit |
| -580.00K | 2.02M | -5.54M | 7.94M | 11.03M | EBIT |
| -40.42M | -37.40M | -34.40M | -19.75M | -6.07M | EBITDA |
| -37.13M | -34.84M | -62.17M | -15.82M | -6.07M | Net Income Common Stockholders |
| -87.54M | -46.42M | -107.76M | -47.15M | -36.66M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 898.00K | 2.67M | 4.31M | 7.75M | 592.00K | Total Assets |
| 259.30M | 243.41M | 207.11M | 160.83M | 125.14M | Total Debt |
| 338.06M | 417.34M | 248.43M | 22.78M | 59.52M | Net Debt |
| 337.16M | 414.38M | 244.12M | 15.03M | 58.92M | Total Liabilities |
| 523.23M | 460.38M | 408.97M | 281.07M | 309.88M | Stockholders Equity |
| -263.93M | -216.98M | -201.85M | -120.24M | -184.74M |
| Cash Flow | Free Cash Flow | |||
| -53.18M | -19.29M | -62.02M | -47.30M | -16.86M | Operating Cash Flow |
| -32.93M | 13.82M | -22.87M | -20.65M | 2.48M | Investing Cash Flow |
| -14.15M | -23.69M | -31.31M | -22.89M | -17.31M | Financing Cash Flow |
| 44.62M | 9.09M | 53.63M | 50.70M | 14.78M |
Aemetis Technical Analysis
Positive
1.76
Price Trends
1.60
Positive
1.90
Negative
2.40
Negative
Market Momentum
0.07
Negative
62.37
Neutral
78.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMTX, the sentiment is Positive. The current price of 1.76 is above the 20-day moving average (MA) of 1.47, above the 50-day MA of 1.60, and below the 200-day MA of 2.40, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 62.37 is Neutral, neither overbought nor oversold. The STOCH value of 78.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMTX.
Aemetis Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $6.70B | 35.13 | -1.49% | 5.62% | -11.17% | -109.60% | |
63 Neutral | $1.13B | 3.02 | -4.95% | ― | -9.25% | -113.66% | |
60 Neutral | $413.24M | ― | -30.25% | ― | 6.50% | -151.25% | |
57 Neutral | $7.06B | 3.07 | -3.48% | 5.79% | 0.59% | -50.58% | |
51 Neutral | $1.18B | ― | -151.69% | 5.23% | -29.23% | -931.43% | |
48 Neutral | $97.45M | ― | 37.38% | ― | -7.51% | -67.44% | |
46 Neutral | $2.36B | 268.82 | -27.14% | 8.51% | -16.21% | -130.18% |
* Energy Sector Average
Performance Comparison
AMTX
Aemetis
1.76
-1.82
-50.84%
CLNE
Clean Energy Fuels
1.87
-0.87
-31.75%
CVI
CVR Energy
23.50
-5.59
-19.22%
DK
Delek US Holdings
19.42
-6.19
-24.17%
DINO
HF Sinclair Corporation
35.58
-17.47
-32.93%
PARR
Par Pacific Holdings
21.90
-5.28
-19.43%
Aemetis Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 35.38%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a mix of challenges and positive developments. The company faces significant revenue decline and net losses but is also making strategic investments and progressing in key areas like RNG and ethanol production. The resumption of biodiesel contracts in India and upcoming IPO plans are promising, while regulatory and financial support provides a solid foundation for future growth.Q1-2025 Updates
Positive Updates
Resumption of Biodiesel Contracts in India
Biodiesel shipments to government oil marketing companies in India resumed in April after a six-month pause, indicating a recovery in revenues from this segment.
RNG Production and Revenue Growth
RNG volumes increased by 17% year over year. The company is scaling gas production rapidly with expectations to reach 550,000 MMBtus of production capacity this year and grow to 1,000,000 MMBtu annually by 2026.
Ethanol Plant Upgrades and Cost Reductions
Off-site construction of a $30 million mechanical vapor recompression system at the Keyes ethanol plant is underway, expected to reduce natural gas use by 80% and add an estimated $32 million in annual cash flow starting in 2026.
Strong Financial and Regulatory Support
Secured $20 million in grants and tax credits for the ethanol system upgrade, with additional revenues expected from LCFS credits, federal tax incentives, and investment tax credits.
IPO Plans for India Subsidiary
Aemetis is preparing for an IPO of its India subsidiary, targeting late 2025 or early 2026, which is expected to bring in significant cash and support expansion into RNG and ethanol production in India.
Negative Updates
Significant Revenue Decline
Revenues dropped to $42.9 million from $72.6 million in the previous year, primarily due to delayed biodiesel contracts in India.
Operating and Net Losses
The company reported an operating loss of $15.6 million and a net loss of $24.5 million, roughly flat versus Q1 last year, with increased SG&A costs contributing to the operating loss.
Cash and Debt Position
Cash at the end of the quarter was $500,000 following $15.4 million of debt repayment, highlighting a tight cash position despite ongoing investments.
Company Guidance
During the Aemetis, Inc. First Quarter 2025 earnings call, several key metrics and guidance were shared by the management team. Revenues for the quarter were reported at $42.9 million, a decrease from $72.6 million the previous year, primarily due to delayed biodiesel contracts in India, which have resumed and are expected to boost Q2 revenues. The company saw a $1.7 million revenue increase at its Keyes ethanol plant due to stronger pricing, and RNG volumes rose by 17% year-over-year. Despite an operating loss of $15.6 million, largely attributed to a $1.6 million increase in SG&A costs, the company anticipates revenue growth from multiple streams, including LCFS credits, federal tax incentives, and resumed biodiesel shipments in India. Aemetis expects to reach 550,000 MMBtus of dairy RNG production capacity this year, with plans to expand to 1,000,000 MMBtus annually by 2026. Additionally, the company is advancing projects in sustainable aviation fuel and carbon capture, supported by regulatory tailwinds and policy developments. Looking ahead, Aemetis is poised for growth and improved cash flow in the latter half of 2025, driven by strategic investments, tax credit monetization, and policy support.Aemetis Corporate Events
Executive/Board ChangesShareholder Meetings
Aemetis Announces Director Elections and Key Approvals
Neutral
May 16, 2025
At its Annual Meeting of Stockholders on May 14, 2025, Aemetis, Inc. announced the election of Eric A. McAfee and Francis P. Barton as Class I directors, who will serve until the 2028 annual meeting. Additionally, the appointment of RSM US LLP as the independent registered public accounting firm for 2025 was ratified, and the compensation of the Company’s Named Executive Officers was approved on an advisory basis with 83% support.
The most recent analyst rating on (AMTX) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Aemetis stock, see the AMTX Stock Forecast page.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.