AREC revenueFY2025$0
- FY YoY
- -100.0%
AREC revenue was $0 for fiscal 2025 (ended Dec 31, 2025), down 100.0% from fiscal 2024.
American Resources Corporation (AREC) financials
For fiscal 2025 (ended Dec 31, 2025), American Resources Corporation reported $0 of revenue and $55.39M of net income.
- Revenue, FY2025
- $0
- Revenue growth, YoY
- -100.0%
- Net income, FY2025
- $55.39M
- EPS, diluted, FY2025
- $0.63
- Cash
- $31.70M
- Total debt
- $965.3K
- P/E
- 2.11
- Market cap
- $116.6M
FY2016FY2025
FY2016FY2025
FY2016FY2024
AREC revenue and earnings growth
AREC net incomeQ4 2025$78.40M
AREC net income was $78.40M in fiscal Q4 2025 (ended Dec 31, 2025), compared with -$10.45M a year earlier. For the full fiscal 2025 it was $55.39M, compared with -$39.20M in fiscal 2024. Fiscal 2025 is the highest of the 12 fiscal years on file.
AREC EPSFY2025$0.63
AREC diluted EPS was $0.63 for fiscal 2025 (ended Dec 31, 2025), compared with -$0.51 in fiscal 2024.
AREC free cash flowQ4 2024$18.65M
AREC free cash flow was $18.65M in fiscal Q4 2024 (ended Dec 31, 2024), compared with -$13.74M a year earlier. For the full fiscal 2024 it was $932.7K, compared with -$23.14M in fiscal 2023. Fiscal 2024 is the highest of the 6 fiscal years on file.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $34.1K | $11.82M | $39.47M | $7.76M | $1.06M | $24.48M | $31.52M | $20.82M | $7.60M |
| Cost of revenue | - | - | - | $21.69M | $7.09M | $3.75M | $26.09M | $24.99M | $1.59M | - |
| Gross profit | - | - | - | $17.79M | $666.4K | -$2.69M | -$1.61M | $6.53M | $19.23M | - |
| Selling, general and admin | $9.56M | $11.42M | $10.67M | $4.02M | $3.88M | $2.49M | $5.11M | $6.18M | -$1.38M | -$237.6K |
| Operating income | -$11.31M | -$14.22M | -$36.38M | -$19.49M | -$28.33M | -$16.45M | -$59.95M | -$11.50M | -$12.59M | -$21.85M |
| Interest expense | - | $8.02M | $1.99M | $1.43M | $4.16M | $3.38M | $2.91M | -$1.29M | $558.8K | $283.6K |
| Pre-tax income | -$17.83M | -$15.96M | -$562.7K | - | - | - | - | - | - | - |
| Income tax | $0 | $0 | - | - | - | - | - | - | - | - |
| Net income | $55.39M | -$39.20M | -$38.53M | -$1.45M | -$32.50M | -$10.26M | -$70.92M | -$12.76M | -$12.59M | -$22.09M |
| EPS, basic | - | - | - | - | -$0.59 | -$0.35 | -$2.94 | -$3.69 | -$16.39 | $0.00 |
| EPS, diluted | $0.63 | -$0.51 | -$0.51 | - | -$0.59 | -$0.35 | -$2.94 | -$3.69 | -$16.39 | $0.00 |
| Diluted shares | 87.3M | 77.2M | 75.1M | - | 55.2M | 29.4M | 24.1M | 3.5M | 792,391 | 0 |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $31.70M | $201.5K | $5.08M | $10.99M | $12.59M | $11.20M | $268.8K | $2.70M | $385.7K | $925.6K |
| Short-term investments | $40.47M | $587.4K | $1.35M | $0 | - | - | - | - | - | - |
| Receivables | - | $6.7K | $0 | $660.8K | $3.18M | $38.6K | $2.42M | - | - | - |
| Inventory | - | $960.0K | $130.0K | $446.7K | $0 | $150.5K | $515.6K | $163.8K | $615.1K | $0 |
| Current assets | $134.26M | $92.90M | $37.80M | $12.77M | $15.30M | $11.22M | $3.18M | $4.26M | $2.70M | $3.74M |
| Total assets | $168.91M | $281.65M | $64.73M | $55.92M | $42.87M | $38.42M | $35.23M | $41.36M | $16.29M | $20.27M |
| Current liabilities | $61.21M | $166.40M | $78.27M | $27.43M | $16.54M | $20.93M | $45.01M | $26.43M | $35.42M | $25.21M |
| Short-term debt | - | $2.08M | $2.14M | $1.92M | $5.28M | $11.00M | $20.49M | $14.17M | $9.65M | $4.43M |
| Long-term debt | $965.3K | $0 | $0 | - | $8.62M | - | $0 | - | - | - |
| Total debt | $965.3K | $2.08M | $2.14M | $0 | $13.90M | $14.30M | $20.49M | $7.92M | $5.08M | $9.47M |
| Total liabilities | $75.72M | $362.57M | $109.73M | $55.63M | $45.13M | $58.42M | $67.93M | $50.56M | $53.46M | $47.78M |
| Shareholders' equity | $94.78M | -$79.36M | -$45.01M | -$19.93M | -$2.35M | -$20.01M | -$32.70M | -$9.20M | -$37.17M | -$26.01M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10.41M | $1.99M | -$19.52M | $2.55M | -$29.09M | -$13.85M | -$19.21M | -$3.37M | -$5.64M | -$5.82M |
| Capital expenditures | - | $1.06M | $3.62M | - | - | - | $327.3K | $133.4K | $173.4K | $34.2K |
| Free cash flow | - | $932.7K | -$23.14M | - | - | - | -$19.53M | -$3.50M | -$5.82M | -$5.85M |
| Investing cash flow | -$39.36M | $946.0K | -$31.74M | -$1.13M | -$5.92M | $417.9K | $322.8K | -$10.6K | $439.6K | $431.8K |
| Financing cash flow | $81.27M | -$4.35M | $45.35M | -$1.02M | $36.40M | $24.36M | $16.45M | $5.70M | $4.67M | $6.17M |
| Stock-based compensation | $9.24M | $3.73M | $3.77M | - | - | - | $377.3K | $782.2K | $50.0K | $88.7K |
| Depreciation and amortization | - | - | - | $2.16M | $1.98M | $1.86M | $4.59M | - | - | - |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -100.0% | -99.7% | -70.1% | 409.0% | 631.8% | -95.7% | -22.4% | 51.4% | 173.9% | 12075.7% |
| Gross margin | - | - | - | 45.1% | 8.6% | -253.8% | -6.6% | 20.7% | 92.4% | - |
| Operating margin | - | -41734.7% | -307.7% | -49.4% | -365.3% | -1552.1% | -244.9% | -36.5% | -60.4% | -287.5% |
| Net margin | - | -115068.9% | -325.9% | -3.7% | -419.1% | -967.8% | -289.7% | -40.5% | -60.5% | -290.6% |
| Free cash flow margin | - | 2737.7% | -195.7% | - | - | - | -79.8% | -11.1% | -27.9% | -77.0% |
| Return on equity | 58.4% | - | - | - | - | - | - | - | - | - |
| Return on assets | 32.8% | -13.9% | -59.5% | -2.6% | -75.8% | -26.7% | -201.3% | -30.8% | -77.3% | -109.0% |
| Current ratio | 2.19 | 0.56 | 0.48 | 0.47 | 0.93 | 0.54 | 0.07 | 0.16 | 0.08 | 0.15 |
| Debt to equity | 0.01 | - | - | - | - | - | - | - | - | - |
Income statement
| Line item | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | $165 | $13.3K | $31.9K | - | $235.4K | $4.1K | $94.0K | - | $5.83M | $1.98M | $8.87M |
| Cost of revenue | - | $68.4K | $256.1K | $182.0K | - | $437.6K | $892.3K | $976.5K | - | - | - | - |
| Gross profit | - | -$68.3K | -$242.9K | -$150.1K | - | -$202.1K | -$888.2K | -$882.4K | - | - | - | - |
| Selling, general and admin | -$490.9K | $2.54M | $4.31M | $3.21M | -$4.26M | $6.25M | $2.89M | $3.72M | $6.91M | $1.30M | $1.13M | $1.32M |
| Operating income | $4.82M | -$4.38M | -$6.76M | -$4.98M | $9.84M | -$8.83M | -$6.23M | -$6.73M | -$27.80M | $1.09M | -$7.03M | -$2.64M |
| Interest expense | - | $1.98M | $2.06M | $1.75M | $2.38M | $1.97M | $418.5K | $662.7K | $944.5K | $299.8K | $167.8K | $576.0K |
| Net income | $78.40M | -$7.70M | -$8.66M | -$6.66M | -$10.45M | -$10.63M | -$7.00M | -$7.02M | -$37.91M | -$2.46M | -$8.47M | -$2.86M |
| EPS, diluted | - | -$0.05 | - | -$0.08 | - | -$0.14 | - | -$0.09 | - | - | - | - |
| Diluted shares | - | 84.3M | - | 79.0M | - | 77.4M | - | 76.4M | - | - | - | - |
Balance sheet
| Line item | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $31.70M | $2.08M | - | $24.6K | $201.5K | $12.49M | $554.4K | $4.76M | $5.08M | $47.88M | $51.53M | $2.42M |
| Short-term investments | $40.47M | $0 | - | $0 | $587.4K | $151.3K | - | - | $1.35M | - | - | - |
| Receivables | - | $18.2K | - | $37.3K | $6.7K | - | - | - | $0 | $4.39M | - | - |
| Inventory | - | $1.08M | - | $1.08M | $960.0K | $2.03M | $2.03M | $130.0K | $130.0K | $2.17M | $711.2K | $2.96M |
| Current assets | $134.26M | $8.40M | - | $8.63M | $92.90M | $5.71M | $4.45M | $4.82M | $37.80M | $12.35M | $6.39M | $5.75M |
| Total assets | $168.91M | $202.36M | - | $203.62M | $281.65M | $211.60M | $195.52M | $216.09M | $64.73M | $102.92M | $100.08M | $49.50M |
| Current liabilities | $61.21M | $84.78M | - | $85.97M | $166.40M | $24.61M | $19.27M | $15.96M | $78.27M | $16.21M | $16.20M | $21.84M |
| Short-term debt | - | $1.50M | - | $2.08M | $2.08M | $804.7K | $804.7K | $792.2K | $2.14M | $804.7K | $818.7K | $839.7K |
| Long-term debt | $965.3K | $965.3K | - | $1.95M | $0 | - | - | - | $0 | - | - | - |
| Total debt | $965.3K | $2.47M | - | $4.03M | $2.08M | - | - | $192.43M | $2.14M | $43.20M | - | - |
| Total liabilities | $75.72M | $297.42M | - | $289.26M | $362.57M | $265.99M | $241.14M | $235.89M | $109.73M | $88.22M | $89.34M | $42.15M |
| Shareholders' equity | $94.78M | -$80.67M | -$91.33M | -$85.65M | -$79.36M | -$71.94M | -$62.22M | -$52.20M | -$45.01M | -$21.62M | -$20.11M | -$12.38M |
Cash flow
| Line item | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$994.7K | - | - | -$1.43M | $19.54M | -$4.33M | -$8.47M | -$4.75M | -$13.66M | $756.8K | $725.5K | -$7.34M |
| Capital expenditures | - | - | - | - | $892.8K | -$482.6K | - | - | $82.2K | $3.53M | -$508.9K | $508.9K |
| Free cash flow | - | - | - | - | $18.65M | -$4.81M | - | - | -$13.74M | -$2.78M | $216.5K | -$7.85M |
| Investing cash flow | -$42.15M | - | - | $151.65M | $121.05M | -$119.85M | $143.56M | -$143.80M | -$29.51M | -$3.41M | $205.8K | $967.3K |
| Financing cash flow | $72.06M | - | - | $76.8K | -$149.42M | -$1.27M | -$1.89M | $148.23M | $364.5K | -$287.1K | $47.47M | -$2.19M |
| Stock-based compensation | $7.41M | - | - | $518.6K | $877.3K | - | - | $986.1K | $3.01M | $376.6K | $0 | $376.6K |
| Depreciation and amortization | - | - | - | $550.6K | - | - | - | $32.5K | - | - | - | $13.3K |
Key ratios
| Line item | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | -99.9% | 223.7% | -66.0% | - | -96.0% | -99.8% | -98.9% | - | -38.7% | -87.8% | -2.3% |
| Gross margin | - | -41374.5% | -1832.0% | -470.0% | - | -85.8% | -21688.8% | -938.6% | - | - | - | - |
| Operating margin | - | -2656743.0% | -51020.0% | -15608.8% | - | -3750.1% | -152122.5% | -7158.3% | - | 18.7% | -355.0% | -29.7% |
| Net margin | - | -4667098.8% | -65339.0% | -20847.7% | - | -4513.4% | -170873.1% | -7467.8% | - | -42.1% | -427.7% | -32.3% |
| Free cash flow margin | - | - | - | - | - | -2045.0% | - | - | - | -47.7% | 10.9% | -88.5% |
| Current ratio | 2.19 | 0.10 | - | 0.10 | 0.56 | 0.23 | 0.23 | 0.30 | 0.48 | 0.76 | 0.39 | 0.26 |
| Debt to equity | 0.01 | - | - | - | - | - | - | - | - | - | - | - |
Source: XBRL data American Resources Corporation files with the SEC, latest filing dated May 20, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
AREC peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| AREC | $0 | -100.0% | $55.39M | - | $116.6M |
| BHP | $58.76B | +14.6% | $9.83B | 16.7% | $203.10B |
| HCC | $1.86B | +52.0% | $232.04M | 12.5% | $4.44B |
| CNR | $4.41B | +19.4% | $77.53M | 1.8% | $3.94B |
| ARLP | $2.21B | -1.9% | $314.56M | 14.3% | $3.14B |
| BTU | $4.10B | +3.4% | -$145.40M | -3.6% | $1.95B |
| AMR | $2.10B | -5.7% | -$49.85M | -2.4% | $1.88B |
| NRP | - | - | $102.33M | - | $1.56B |
| METC | $544.51M | -6.0% | -$66.67M | -12.2% | $397.1M |
AREC FAQ
7 questionsWhat is AREC revenue?
American Resources Corporation (AREC) reported $0 of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 100.0% from the year before.Is AREC profitable?
Yes. American Resources Corporation earned $55.39M in net income for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does AREC have?
American Resources Corporation reported $31.70M in cash and cash equivalents and $965.3K of debt on its most recent balance sheet in SEC filings.How fast is AREC revenue growing?
American Resources Corporation's revenue changed -100.0% in fiscal 2025, to $0.What is AREC earnings per share?
Diluted earnings per share were $0.63 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did AREC last report financial results?
The latest statements here come from American Resources Corporation's 10-K filed on May 20, 2026, covering the period ended Dec 31, 2025.Where does this AREC financial data come from?
Quantisnow builds these statements from the structured XBRL data American Resources Corporation files with the SEC. It is provided for information only and is not investment advice.