Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data American Resources Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
7.6
20.8
31.5
24.5
1.06
7.76
39.5
11.8
0.03
0
Cost of revenue
1.59
25
26.1
3.75
7.09
21.7
Gross profit
19.2
6.53
-1.61
-2.69
0.67
17.8
General and administrative
-0.24
-1.38
6.18
5.11
2.49
3.88
4.02
10.7
11.4
9.56
Operating expenses
-29.5
-33.4
-43
-84.4
17.5
36.1
59
48.2
14.3
11.3
Operating income
-21.9
-12.6
-11.5
-60
-16.4
-28.3
-19.5
-36.4
-14.2
-11.3
Interest expense
0.28
0.56
-1.29
2.91
3.38
4.16
1.43
1.99
8.02
Interest income
0.03
0.03
0.08
0.58
Other non-operating income
-43
-84.4
0.02
-0.23
0.31
-2.35
-1.74
-6.53
Pre-tax income
-0.56
-16
-17.8
Income tax
0
0
Net income to minority interests
-0.05
-0.34
-0.15
Net income
-22.1
-12.6
-12.8
-70.9
-10.3
-32.5
-1.45
-38.5
-39.2
55.4
EBITDA
-24.1
-14.7
-9.04
-55.4
-14.6
-26.4
-17.3
-34.1
-14.1
-11.2
EPS, basic
0.00
-16.39
-3.69
-2.94
-0.35
-0.59
EPS, diluted
0.00
-16.39
-3.69
-2.94
-0.35
-0.59
-0.51
-0.51
0.63
Shares, basic (weighted)
0
0.79
3.51
24.1
29.4
55.2
66.8
75.4
Shares, diluted (weighted)
0
0.79
3.51
24.1
29.4
55.2
66.8
75.1
77.2
87.3
Balance sheet
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.93
0.39
2.7
0.27
11.2
12.6
11
1.32
0.2
31.7
Short-term investments
0
1.35
0.59
40.5
Receivables
2.42
0.04
3.18
0.66
0
0.01
Inventory
0
0.62
0.16
0.52
0.15
0
0.45
0.13
0.96
Other current assets
0.15
0
0.18
0.62
0.79
1.73
0.62
2.64
Total current assets
3.74
2.7
4.26
3.18
11.2
15.3
12.8
37.8
92.9
134
Property, plant and equipment
12.1
9.15
32.6
27.7
22.5
22.9
9.11
20.7
0.23
0.14
Lease right-of-use assets
0
0.73
0.64
0.8
0.51
0.46
Long-term investments
18.8
18.8
Other non-current assets
27.2
45.2
Total assets
20.3
16.3
41.4
35.2
38.4
42.9
55.9
64.7
282
169
Accounts payable
2.2
5.36
8.12
11
4.29
3.25
4.92
4.43
9.01
Accrued liabilities
0.12
0.34
1.12
2.87
1.04
1.33
0.11
0.31
0.54
0.39
Short-term debt
4.43
9.65
14.2
20.5
11
5.28
1.92
0.8
2.08
Total current liabilities
25.2
35.4
26.4
45
20.9
16.5
27.4
78.3
166
61.2
Long-term debt
4.96
5.08
7.92
5.42
5.33
0.55
1.92
0.8
0
0.97
Lease liabilities
0.56
0.55
0.77
0.51
0.45
Other non-current liabilities
35.2
Total liabilities
47.8
53.5
50.6
67.9
58.4
45.1
55.6
110
363
75.7
Total debt
4.43
5.08
7.92
0
14.3
5.28
1.92
2.14
2.08
0.97
Paid-in capital
0.09
1.53
42.9
90.3
113
163
168
182
186
305
Retained earnings
-27.7
-39.1
-52.1
-123
-133
-166
-167
-225
-266
-210
Shareholders' equity
-26
-37.2
-9.2
-32.7
-20
-2.35
-19.9
-43.5
-79.4
94.8
Minority interests
0.05
0.4
0
-1.47
-1.56
-1.59
Total equity
-27.6
-37.6
-9.2
-32.7
-20
0
-19.9
-45
-80.9
93.2
Total liabilities and equity
20.3
16.3
41.4
35.2
38.4
42.9
55.9
64.7
282
169
Shares outstanding
0
0.89
17.8
27.4
43
65.1
0
76.2
78
107
Cash flow statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-22.1
-12.6
-13.1
-70.9
-10.3
32.5
-1.45
-38.7
-39.2
55.4
Depreciation and amortization
-2.26
-2.08
2.46
4.59
1.86
1.98
2.16
2.32
0.12
0.12
Stock-based compensation
0.09
0.05
0.78
0.38
0.99
3.77
3.73
9.24
Deferred income tax
-9.13
16.2
Change in receivables
2.75
-0.88
-0.53
1
2.39
-2.91
-2.51
-0.66
-0.01
Change in inventory
0
0.62
-0.45
0.35
0.37
0.15
0.45
0.32
-0.83
Change in payables
2.2
3.1
2.5
1.16
-4.3
-2.94
2.43
0.23
6.05
Cash from operations
-5.82
-5.64
-3.37
-19.2
-13.8
-29.1
2.55
-19.5
-21.2
-10.4
Capital expenditures
-0.03
-0.17
-0.13
-0.33
-3.62
-1.06
Acquisitions
5.32
0
Purchases of investments
0
-51.9
Cash from investing
0.43
0.44
-0.01
0.32
0.42
-5.92
-1.13
-31.7
-125
-39.4
Debt issued
4.86
4.44
8.43
8.66
0.03
0
2.56
0
Debt repaid
-0.3
-0.39
-2.31
-2.06
-2.59
-0.56
-2.21
-1.11
Stock issued
0.5
7.77
0
0
68.1
Cash from financing
6.17
4.67
5.7
16.4
24.4
36.4
-1.02
45.3
146
81.3
Net change in cash
0.78
-0.54
2.32
-2.44
10.9
1.39
-1.6
-5.91
-1.41
31.5
Free cash flow
-5.85
-5.82
-3.5
-19.5
-23.1
-22.3
Interest paid
0.16
0.35
0.51
0.56
0.33
0.71
0.02
Income taxes paid
0
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.90 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
718.3%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
24.6%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-100.0%
Revenue vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-40.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
44.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
34.5%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
13.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
9.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
24.3%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.19x
Current assets / current liabilities.
Quick ratio
1.18x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.18x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.01x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
0.6%
Total debt / total assets.
Liabilities / assets
44.8%
Total liabilities / total assets.
Net debt
-$71.2M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.00
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.12
Cash from operations / diluted weighted shares.
Book value per share
$0.89
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
3.67x
Market cap / net income. Only when net income is positive.
P/B
2.14x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.14x
Market cap / tangible book value, when positive.
Earnings yield
27.3%
Net income / market cap (the inverse of P/E).
What was American Resources Corp's revenue in fiscal 2025?
American Resources Corp reported revenue of $0.0 for fiscal 2025, 100% lower than the year before.
Was American Resources Corp profitable in fiscal 2025?
Yes. Net income was $55.4M, a net margin of -.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.