Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Aemetis, Inc.AMTX · chemicals | |
|---|---|
| Grade |  Eweakest fifth of 331 graded peers; percentile 91.8, sampling error 2.7 points; lower is stronger |
| Rank | 302 of 331 |
| Profitability | Cpercentile 49.7 |
| Solvency | Epercentile 85.9 |
| Growth and financing | Dpercentile 69.4 |
| Reliability | 0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025 |
| Peer failure rate | 1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $120M to $591M assetstotal assets $259.8M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | short runwaynot computable: distress |
| Inputs computable | 8 of 14 |
| Graded from | filings received through Mar 16, 2026207 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $1.732026-10-08; market equity $124.5M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 16, 2026; the document on sec.gov.
Founded in 2006 and headquartered in Cupertino, California, Aemetis, Inc. (collectively with its subsidiaries on a consolidated basis referred to herein as “Aemetis,” the “Company,” “we,” “our” or “us”) is an international renewable natural gas and renewable fuels company focused on the operation, acquisition, development, and commercialization of innovative technologies to produce low and negative carbon intensity renewable fuels that lower fuel costs and reduce emissions. We do this by building a local circular bioeconomy using agricultural products and wastes to produce low carbon, advanced renewable fuels that reduce greenhouse gas ("GHG") emissions and improve air quality.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 49.7 | |||||||
| Gross profitability | (0.3%) | [1,4] | 21.3% | 97.2 | 359 | 2025-12-31 | |
| Return on invested capital | not computable | 9.5% | |||||
| latest aligned inputs end 2024-12-31; latest annual assets end 2025-12-31 | |||||||
| Accruals ratio | (30.9%) | [1,5-7] | (4.2%) | 5.0 | 400 | 2025-12-31 | |
| Gross margin stability, five years | 2.2 pts | [2,4,8-15] | 2.2 pts | 47.0 | 301 | 2025-12-31 | |
| Solvency, sleeve percentile 85.9 | |||||||
| Twelve-month failure probability | not computable | 0.05% | |||||
| liabilities and a nearby cover-page share count are required at 2026-06-30 | |||||||
| Altman Z double-prime | not computable | 3.41 | |||||
| one or more required annual facts are missing | |||||||
| Net debt to EBITDA | not computable | 1.88x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | (0.70x) | [16-17] | 4.16x | 72.4 | 88 | 2025-12-31 | |
| Current ratio | 0.07x | [18-19] | 2.20x | 99.3 | 423 | 2025-12-31 | |
| Growth and financing, sleeve percentile 69.4 | |||||||
| Revenue growth, three-year compound | (8.3%) | [2,9,11,13] | 1.2% | 86.2 | 350 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 12.6% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 24.3% | |||||
| NOPAT must exceed $100,000 | |||||||
| Asset growth, three years | 7.9% | [1,7,20-21] | 2.9% | 28.5 | 369 | 2025-12-31 | |
| Net share issuance, one year | 25.0% | [22-23] | 0.0% | 93.4 | 321 | 2026-02-28 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.417; sampling error 2.7 percentile points on 331 peers.
Among 331 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 297 | Celanese Corp. (CE) Celanese Corp. (CE) Eweakest fifth; percentile 90.6 NYSE · Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) market equity $4.9B; last close $44.85 No active warnings; 9 of 14 inputs | 90.6 | E | |
| 298 | Greif, Inc. (GEF) Greif, Inc. (GEF) Eweakest fifth; percentile 91.1 NYSE · Metal Shipping Barrels, Drums, Kegs & Pails last close $81.83 No active warnings; 8 of 14 inputs | 91.1 | E | |
| 299 | Greif, Inc. (GEF-B) Greif, Inc. (GEF-B) Eweakest fifth; percentile 91.1 NYSE · Metal Shipping Barrels, Drums, Kegs & Pails last close $107.78 No active warnings; 8 of 14 inputs | 91.1 | E | |
| 300 | Tronox Holdings plc (TROX) Tronox Holdings plc (TROX) Eweakest fifth; percentile 91.5 NYSE · Industrial Inorganic Chemicals market equity $603.7M; last close $3.79 No active warnings; 10 of 14 inputs | 91.5 | E | |
| 301 | Emerson Electric Co. (EMR) Emerson Electric Co. (EMR) Eweakest fifth; percentile 91.7 NYSE · Electronic & Other Electrical Equipment (No Computer Equip) market equity $88.7B; last close $159.05 No active warnings; 8 of 14 inputs | 91.7 | E | |
| 302 | Aemetis, Inc. (AMTX) Aemetis, Inc. (AMTX) Eweakest fifth; percentile 91.8 Nasdaq · Industrial Organic Chemicals market equity $124.9M; last close $1.73 Warnings: short runway; 8 of 14 inputs | 91.8 | E | short runway |
| 303 | DOW Inc. (DOW) DOW Inc. (DOW) Eweakest fifth; percentile 92.1 NYSE · Plastic Materials, Synth Resins & Nonvulcan Elastomers market equity $20.6B; last close $28.61 No active warnings; 7 of 14 inputs | 92.1 | E | |
| 304 | Techprecision Corp. (TPCS) Techprecision Corp. (TPCS) Eweakest fifth; percentile 92.1 Nasdaq · Fabricated Structural Metal Products market equity $58.8M; last close $5.80 Warnings: late filer, fortress balance sheet; 8 of 14 inputs | 92.1 | E | late filer, fortress balance sheet |
| 305 | Tomi Environmental Solutions, Inc. (TOMZ) Tomi Environmental Solutions, Inc. (TOMZ) Eweakest fifth; percentile 92.4 Nasdaq · Industrial Organic Chemicals market equity $12.8M; last close $1.55 Warnings: short runway, late filer; 8 of 14 inputs | 92.4 | E | short runway, late filer |
| 306 | DSS, Inc. (DSS) DSS, Inc. (DSS) Eweakest fifth; percentile 92.5 NYSE · Paperboard Containers & Boxes market equity $6.1M; last close $0.64 Warnings: short runway, distress; 8 of 14 inputs | 92.5 | E | short runway, distress |
| 307 | Rayonier Advanced Materials Inc. (RYAM) Rayonier Advanced Materials Inc. (RYAM) Eweakest fifth; percentile 92.9 NYSE · Pulp Mills market equity $468.8M; last close $6.93 No active warnings; 8 of 14 inputs | 92.9 | E |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 92.3 | 2204 |
| sector peers, equal sleeves (the grade) | E | 91.8 | 331 |
| same exchange, equal sleeves | E | 87.2 | 1219 |
| sector peers, equal inputs | E | 87.3 | 331 |
Each letter is one fifth of the 331 graded peers, about 66 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (16.9%) | 13.8% | 19 | hotter than 19 of 100 peers |
| Distance from 52-week high | (52.7%) | (24.2%) | 13 | closer to its high than 13 of 100 peers |
| EBIT to enterprise value | (8.1%) | 3.9% | 10 | pricier than 90 of 100 peers |
| Free cash flow yield | (18.2%) | 3.2% | 8 | pricier than 92 of 100 peers |
| Book value to price | (2.58) | 0.39 | 0 | pricier than 100 of 100 peers |
| Sales to price | 1.58 | 0.57 | 81 | pricier than 19 of 100 peers |
| Composite equity issuance, five years | 98.0% | (9.9%) | 96 | more equity-funded than 96 of 100 peers |
| Relative strength against the sector, log excess return | (0.36) | (0.02) | 17 | ahead of 17 of 100 peers |
Inputs: market equity $124.9M; EBIT -$37.2M; free cash flow -$22.7M; book equity -$322.1M; sales $197.6M; debt $338.1M; cash $973,000[24].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 4 of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (29.7%) | ✗ fail[5,7] |
| Operating cash flow above zero | $3.3M | ✓ pass[6] |
| Return on assets improved | 6.3 pts | ✓ pass[5,7,20,25] |
| Operating cash flow exceeds net income | $80.3M | ✓ pass[5-6] |
| Long-term leverage fell | (73.9 pts) | ✓ pass[1,7,20,26-27] |
| Current ratio improved | (23.8 pts) | ✗ fail[18-19,28-29] |
| No new shares issued | 25.0% | ✗ fail[22-23] |
| Gross margin improved | (0.2 pts) | ✗ fail[2,4,8-9] |
| Asset turnover improved | (33.7 pts) | ✗ fail[2,7,9,20] |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $259.8M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $197.6M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $973,000 | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 4 | gross profit | us-gaap:GrossProfit | -$768,000 | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 5 | net income | us-gaap:NetIncomeLoss | -$77.0M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 6 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $3.3M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 7 | assets | us-gaap:Assets | $259.3M | 2024-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 8 | gross profit | us-gaap:GrossProfit | -$580,000 | 2024-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 9 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $267.6M | 2024-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 10 | gross profit | us-gaap:GrossProfit | $2.0M | 2023-12-31 | 2025-03-14 | 10-K | filing · viewer · series |
| 11 | revenue | us-gaap:Revenues | $77.2M | 2023-12-31 | 2024-03-29 | 10-K | filing · viewer · series |
| 12 | gross profit | us-gaap:GrossProfit | -$5.5M | 2022-12-31 | 2024-03-29 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $256.5M | 2022-12-31 | 2024-03-29 | 10-K | filing · viewer · series |
| 14 | gross profit | us-gaap:GrossProfit | $7.9M | 2021-12-31 | 2023-03-09 | 10-K | filing · viewer · series |
| 15 | revenue | us-gaap:Revenues | $211.9M | 2021-12-31 | 2022-03-10 | 10-K | filing · viewer · series |
| 16 | operating income | us-gaap:OperatingIncomeLoss | -$37.2M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 17 | interest expense | us-gaap:InterestExpense | $52.9M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 18 | current assets | us-gaap:AssetsCurrent | $26.9M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 19 | current liabilities | us-gaap:LiabilitiesCurrent | $371.3M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 20 | assets | us-gaap:Assets | $243.4M | 2023-12-31 | 2025-03-14 | 10-K | filing · viewer · series |
| 21 | assets | us-gaap:Assets | $207.1M | 2022-12-31 | 2024-03-29 | 10-K | filing · viewer · series |
| 22 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 66,631,852 | 2026-02-28 | 2026-03-16 | 10-K | filing · viewer · series |
| 23 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 53,319,340 | 2025-02-28 | 2025-03-14 | 10-K | filing · viewer · series |
| 24 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 72,169,594 | 2026-07-31 | 2026-08-06 | 10-Q | filing · viewer · series |
| 25 | net income | us-gaap:NetIncomeLoss | -$87.5M | 2024-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 26 | long term debt | us-gaap:LongTermDebtNoncurrent | $63.9M | 2025-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 27 | long term debt | us-gaap:LongTermDebtNoncurrent | $247.5M | 2024-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 28 | current assets | us-gaap:AssetsCurrent | $44.7M | 2024-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 29 | current liabilities | us-gaap:LiabilitiesCurrent | $144.0M | 2024-12-31 | 2026-03-16 | 10-K | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$12.4M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$10.6M | 2026-03-31 | 2026-05-07 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$2.5M | 2025-09-30 | 2025-11-07 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$5.6M | 2025-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 91.8 is 11.8 points from the nearest band edge; sampling error is 2.7 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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