AEMETIS, INC
AMTX · Industrial Organic Chemicals · 70.4M shares · +22%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$835K (gross $7M, SBC $8M)
Reference price $2.05 · est. market cap ~$144M — last insider sale, 2026-06-10 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
F36Deeply indebted renewable-fuels company near cash-out with negative equity and demand-default debt.
Strengths
- Operating ethanol, dairy RNG and India biodiesel assets with 45Z tax-credit and CCUS optionality
- RNG volumes growing (+32%)
Risks
- Cash runway ~0.9 quarter, current ratio 0.07, only $4.9M cash; $247.9M Third Eye debt due on demand
- $77M net loss, $639.9M accumulated deficit; negative equity makes ROE meaningless
Notable findings
- No interest coverageInterest coverage -0.70 (cannot cover interest)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Negative equityNegative book equity (debt/equity -1.24)
- Auditor changeRecent 8-K item 4.01 8-K ↗
- Weak liquidityCurrent ratio 0.07 (<1)
- Chronic dilutionShare count +22%/yr over 4y (dilution)
- Cash burnNegative free cash flow (-22.7M)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
25.1%
Return on assets
-29.6%
ROIC
-39.2%
Revenue growth (QoQ)
26.6%
Debt / equity
-1.2×
Interest coverage
-0.7×
Current ratio
0.1×
Free cash flow
-$23M
EBITDA
-$28M
Tangible book value
-$307M
Cash & investments
$5M
Cash runway
1q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-10 | Simon Timothy Alan | Sell | 10K | $2.05 |
| 2026-03-19 | BLOCK JOHN R | Grant | 10K | $2.64 |
| 2026-03-19 | MCAFEE ERIC A | Grant | 300K | $2.64 |
| 2026-01-22 | Simon Timothy Alan | Grant | 12K | $1.54 |
| 2026-01-22 | BLOCK JOHN R | Grant | 12K | $1.54 |
| 2026-01-22 | BARTON FRANCIS P | Grant | 18K | $1.54 |
| 2026-01-22 | Beebe Lydia I | Grant | 14K | $1.54 |
| 2026-01-22 | Boness Naomi Louise | Grant | 12K | $1.54 |
| 2025-08-14 | BARTON FRANCIS P | Sell | 1.3K | $2.53 |
| 2025-08-14 | BARTON FRANCIS P | Sell | 12K | $2.53 |
| 2025-08-14 | BARTON FRANCIS P | Sell | 5.0K | $2.53 |
| 2025-08-14 | BARTON FRANCIS P | Sell | 8.0K | $2.53 |
| 2025-06-09 | Simon Timothy Alan | Disposition | 10K | $1.98 |
| 2025-06-09 | Simon Timothy Alan | Disposition | 5.0K | $1.98 |
| 2025-06-09 | Simon Timothy Alan | Disposition | 4.6K | $1.98 |
| 2025-05-15 | ROCKETT JAMES MICHAEL | Grant | 28K | $1.63 |
| 2025-04-07 | Waltz Todd | Option exercise | 50K | $0.70 |
| 2025-04-07 | Waltz Todd | Option exercise | 5.0K | $1.71 |
| 2025-04-07 | Waltz Todd | Option exercise | 27K | $0.92 |
| 2025-04-07 | Waltz Todd | Option exercise | 62K | $0.60 |
| 2025-04-07 | Waltz Todd | Option exercise | 30K | $0.67 |
| 2025-04-07 | Waltz Todd | Option exercise | 70K | $0.70 |
| 2025-04-07 | Waltz Todd | Option exercise | 37K | $0.70 |
| 2025-04-07 | Waltz Todd | Option exercise | 7.5K | $0.86 |
| 2025-01-16 | MCAFEE ERIC A | Grant | 300K | — |
| 2025-01-16 | Boness Naomi Louise | Grant | 12K | — |
| 2025-01-16 | Simon Timothy Alan | Grant | 12K | — |
| 2025-01-16 | Beebe Lydia I | Grant | 14K | — |
| 2025-01-16 | BARTON FRANCIS P | Grant | 18K | — |
| 2025-01-16 | BLOCK JOHN R | Grant | 12K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (2)
- J.D. Heiskell
- Third Eye Capital
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-26 | Shareholder vote | filing ↗ |
| 2026-05-07 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-16 | Auditor changeExhibits | filing ↗ |
| 2026-03-12 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-19 | 5.03Shareholder voteOtherExhibits | filing ↗ |
| 2026-02-06 | Material agreementExhibits | filing ↗ |
| 2026-01-28 | Material agreementExec/director changeOther | filing ↗ |
| 2025-11-06 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-26 | 2026-05-20 | 0001437749-26-018382 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001437749-26-015362 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001437749-26-015360 ↗ |
| 10-K | 2026-03-16 | 2025-12-31 | 0001437749-26-008289 ↗ |
| 8-K | 2026-03-16 | 2026-03-10 | 0001437749-26-008426 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001437749-26-007834 ↗ |
| 8-K | 2026-02-19 | 2026-02-18 | 0001437749-26-004619 ↗ |
| 8-K | 2026-02-06 | 2026-02-04 | 0001437749-26-003382 ↗ |
| 8-K | 2026-01-28 | 2026-01-22 | 0001437749-26-002317 ↗ |
| 10-Q | 2025-11-07 | 2025-09-30 | 0001437749-25-033667 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001437749-25-033473 ↗ |
| 8-K | 2025-10-21 | 2025-10-15 | 0001437749-25-031431 ↗ |