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AMERICAN RESOURCES CORP (AREC) Financials

AREC
FY2025 annual
Revenue $0 -100.0% YoY
Net Income $55.4M +241.3% YoY
EPS (Diluted) $0.63 +223.5% YoY
Operating Cash Flow -$10.4M +51.0% YoY
Market Cap $181.9M as of Oct 6, 2026
Price / Sales n/m revenue is not positive, FY2025
Price / Earnings 3.3x on $55.4M net income, FY2025
Price / Book 1.9x on $94.8M equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed May 20, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AREC SEC filings page.

AMERICAN RESOURCES CORP (AREC) reported $0 in revenue for fiscal year 2025, down 100.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AREC FY2025

The latest valid year shows a business funded mainly outside operations, with minimal revenue, continuing cash outflows, and liabilities exceeding assets.

Revenue collapsed from $11.8M in FY2023 to $34K in FY2024, while operating cash outflow remained $21.2M versus $19.5M. That disconnect indicates the company’s cash requirements did not shrink with reported activity, leaving earnings quality and operating scale misaligned.

External financing expanded the reported balance sheet: assets reached $281.7M while liabilities reached $362.6M in FY2024, so the larger asset base was not matched by positive equity or internally generated cash. Investing outflows of $125.4M alongside financing inflows of $145.7M reinforce that funding structure.

Short-term liquidity remained tight, with a current ratio of 0.6x in FY2024, while the company recorded a net loss of $39.2M and free-cash-flow deficit of $22.3M. The combination points to obligations being managed against a weak operating base rather than through recurring cash generation.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

AMERICAN RESOURCES CORP does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Distress
0.00

AMERICAN RESOURCES CORP scores 0.00, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($181.9M) relative to total liabilities ($75.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
3/8

AMERICAN RESOURCES CORP passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

For every $1 of reported earnings, AMERICAN RESOURCES CORP used $0.19 of operating cash (-$10.4M OCF vs $55.4M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

EPS (Diluted)
$0.75
YoY+568.8%
QoQ+1600.0%

AMERICAN RESOURCES CORP earned $0.75 per diluted share (EPS) in Q4 2025. This represents an increase of 568.8% from the same quarter a year earlier. Against the prior quarter it is up 1600.0%.

Revenue

Not reported for Q4 2025.

EBITDA

Not reported for Q4 2025.

Net Income

Not reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt
$31.7M
YoY+15636.4%
QoQ+1422.8%

AMERICAN RESOURCES CORP held $31.7M in cash against $965K in long-term debt as of Q4 2025, with $61.2M of liabilities due within a year.

Shares Outstanding
107M
YoY+37.1%
QoQ+6.0%
5Y CAGR+16.0%

AMERICAN RESOURCES CORP had 107M shares outstanding in Q4 2025. This represents an increase of 37.1% from the same quarter a year earlier. Against the prior quarter it is up 6.0%.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

AREC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AREC quarterly income statement
MetricQ4'2510-KQ3'2510-Q/AQ2'2510-Q/AQ1'2510-Q/AQ4'2410-KQ3'2410-Q/AQ2'2410-QQ1'2410-Q/A
RevenueN/A$165-99.9%N/A$32K-66.0%N/A$235K-96.0%$4K-99.8%$94K-98.9%
Cost of RevenueN/A$68K-84.4%N/A$182K-81.4%N/A$438KN/A$976K
Gross ProfitN/A-$68K+66.2%N/A-$150K+83.0%N/A-$202KN/A-$882K
SG&A ExpensesN/A$2.5M-59.4%N/A$3.2M-13.8%N/A$6.3M+381.2%$2.9M+154.6%$3.7M+181.7%
Operating IncomeN/A-$4.4M+50.4%N/A-$5.0M+26.0%N/A-$8.8M-908.6%-$6.2M+11.4%-$6.7M-155.4%
EBITDAN/A-$3.4M+56.1%N/A-$4.4M+33.8%N/A-$7.8M-653.9%-$5.4M+19.6%-$6.7M-155.5%
Interest ExpenseN/A$2.0M+0.7%N/A$1.8M+164.5%N/A$2.0M+556.0%$418K+149.4%$663K+15.1%
Net IncomeN/A-$7.7M+27.5%-$8.7M-23.8%-$6.7M+5.2%N/A-$10.6M-332.6%-$7.0M+17.4%-$7.0M-145.3%
EPS (Diluted)$0.75+568.8%-$0.05N/A-$0.08+11.1%-$0.16-$0.14N/A-$0.09
Diluted Shares (Avg)N/A84MN/A79M+3.4%N/A77MN/A76M

Not reported in any period shown, so not listed: R&D Expenses, Income Tax, EPS (Basic).

AREC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AREC quarterly balance sheet
MetricQ4'2510-KQ3'2510-Q/AQ2'2510-Q/AQ1'2510-Q/AQ4'2410-KQ3'2410-Q/AQ2'2410-QQ1'2410-Q/A
Total Assets$168.9M-40.0%$202.4M-4.4%N/A$203.6M-5.8%$281.7M+335.2%$211.6M+105.6%$195.5M+95.4%$216.1M+336.6%
Current Assets$134.3M+44.5%$8.4M+46.9%N/A$8.6M+79.1%$92.9M+145.7%$5.7M-53.7%$4.5M-30.3%$4.8M-16.2%
Cash & Equivalents$31.7M+15636.4%$2.1M+147.7%N/A$25K-99.5%$201K-84.7%$840K-98.2%$554K-98.9%$4.8M+96.5%
Short-Term Investments$40.5M+6790.2%$0-100.0%N/A$0$587K-56.4%$151K$0$0
InventoryN/A$1.1M-46.9%N/A$1.1M+729.5%$960K+638.5%$2.0M-6.3%$2.0M+185.4%$130K-95.6%
Long-Term Investments$32.4M+1796.6%$2.1MN/A$1.7M-59.8%$1.7M-50.9%$0-100.0%$0$4.2M
Total Liabilities$75.7M-79.1%$297.4M+11.8%N/A$289.3M+22.6%$362.6M+230.4%$266.0M+201.5%$241.1M+169.9%$235.9M+459.7%
Current Liabilities$61.2M-63.2%$84.8M+244.6%N/A$86.0M+438.7%$166.4M+112.6%$24.6M+51.8%$19.3M+18.9%$16.0M-26.9%
Non-Current Liabilities$14.5M-92.6%$212.6M-11.9%N/A$203.3M-7.6%$196.2M+523.6%$241.4M+235.2%$221.9M+203.4%$219.9M+983.1%
Long-Term Debt$965K$965KN/AN/A$0N/AN/AN/A
Total Equity$94.8M+219.4%-$80.7M-55.7%-$91.3M-107.2%-$84.1M-61.1%-$79.4M-82.3%-$51.8M-452.7%-$44.1M-510.6%-$52.2M-810.4%
Retained Earnings-$210.4M+20.8%-$276.1M-17.7%N/A-$272.6M-47.4%-$265.8M-18.0%-$234.6M-43.2%-$226.1M-35.1%-$184.9M-8.6%

Not reported in any period shown, so not listed: Accounts Receivable, Goodwill.

AREC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AREC quarterly cash flow statement
MetricQ4'2510-KQ3'2510-Q/AQ2'2510-Q/AQ1'2510-Q/AQ4'2410-KQ3'2410-Q/AQ2'2410-QQ1'2410-Q/A
Operating Cash Flow-$995K+73.1%N/AN/A-$1.4M+69.8%-$3.7M+73.0%-$4.3M-672.5%-$8.5M-1267.1%-$4.8M+35.3%
Depreciation & Amortization-$1.4M$947K-5.6%N/A$551K+1594.5%N/A$1.0M+212.6%$831K+159.6%$32K+143.7%
Stock-Based CompensationN/AN/AN/A$519K-47.4%N/AN/A$874K+18.0%$986K+161.9%
Capital ExpendituresN/AN/AN/AN/A$893K+986.6%-$483K-86.3%N/AN/A
Free Cash FlowN/AN/AN/AN/A-$4.6M+66.6%-$4.8M-73.3%N/AN/A
Investing Cash FlowN/AN/AN/A$151.6M+205.5%-$5.3M+82.0%-$119.9M-3418.3%$143.6M+69646.6%-$143.8M-14965.9%
Financing Cash FlowN/AN/AN/A$77K-99.9%$614K+68.5%-$1.3M-343.7%-$1.9M-104.0%$148.2M+6854.0%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

AREC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AREC quarterly financial ratios
MetricQ4'2510-KQ3'2510-Q/AQ2'2510-Q/AQ1'2510-Q/AQ4'2410-KQ3'2410-Q/AQ2'2410-QQ1'2410-Q/A
Gross MarginN/A-41374.6%N/A-470.0%N/A-85.9%N/A-938.6%
Operating MarginN/A-2656743.0%N/A-15608.8%N/A-3750.1%-152122.5%-7158.3%
Net MarginN/A-4667098.8%N/A-20847.7%N/A-4513.4%-170873.1%-7467.8%
Return on AssetsN/A-3.8%+1.2ppN/A-3.3%0.0ppN/A-5.0%-2.6pp-3.6%+4.9pp-3.3%+2.5pp
Current Ratio2.19+1.6x0.10-0.1xN/A0.10-0.2x0.56+0.1x0.23-0.5x0.23-0.2x0.300.0x
Debt-to-Equity0.01N/AN/AN/AN/AN/AN/AN/A
Asset TurnoverN/A0.000.0xN/A0.000.0xN/A0.00-0.1x0.000.0x0.00-0.2x
FCF MarginN/AN/AN/AN/AN/A-2045.0%N/AN/A

Not reported in any period shown, so not listed: Return on Equity.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
AMERICAN RESOURCES CORP AREC FY2025 $0 $55.4M N/A $181.9M —
Ramaco Resources, Inc. METCB FY2025 $536.6M -$51.4M -9.6% $281.5M 44/100
Ramaco Resources, Inc. METC FY2025 $536.6M -$51.4M -9.6% $509.1M 44/100
SUNCOKE ENERGY INC SXC FY2025 $1.8B -$44.2M -2.4% $843.7M 35/100
Alpha Metallurgical Resources, Inc. AMR FY2025 $2.1B -$61.7M -2.9% $2.2B 59/100
Warrior Met Coal, Inc. HCC FY2025 $1.3B $57.0M 4.3% $4.9B 51/100

Frequently Asked Questions

What is AMERICAN RESOURCES CORP's annual revenue?

AMERICAN RESOURCES CORP (AREC) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is AMERICAN RESOURCES CORP's revenue growing?

AMERICAN RESOURCES CORP (AREC) revenue declined by 100.0% year-over-year, from $34K to $0 in fiscal year 2025.

Is AMERICAN RESOURCES CORP profitable?

Yes, AMERICAN RESOURCES CORP (AREC) reported a net income of $55.4M in fiscal year 2025.

AMERICAN RESOURCES CORP (AREC) reported diluted earnings per share of $0.63 for fiscal year 2025. This represents a 223.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

AMERICAN RESOURCES CORP (AREC) had EBITDA of -$11.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, AMERICAN RESOURCES CORP (AREC) had $31.7M in cash and equivalents against $965K in long-term debt.

AMERICAN RESOURCES CORP (AREC) has a return on equity of 58.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

AMERICAN RESOURCES CORP (AREC) recorded an outflow of $10.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

AMERICAN RESOURCES CORP (AREC) had $168.9M in total assets as of fiscal year 2025, including both current and long-term assets.

AMERICAN RESOURCES CORP (AREC) had 107M shares outstanding as of fiscal year 2025.

AMERICAN RESOURCES CORP (AREC) had a current ratio of 2.19 as of fiscal year 2025, which is generally considered healthy.

AMERICAN RESOURCES CORP (AREC) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

AMERICAN RESOURCES CORP (AREC) had a return on assets of 32.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

AMERICAN RESOURCES CORP (AREC) trades at 3.3x earnings, its market capitalization divided by net income of $55.4M net income, FY2025. The market capitalization is $181.9M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

AMERICAN RESOURCES CORP (AREC) has no price-to-sales ratio at the moment: revenue is not positive (FY2025). The market capitalization is $181.9M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

AMERICAN RESOURCES CORP (AREC) has an Altman Z-Score of 0.00, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

AMERICAN RESOURCES CORP (AREC) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

For every $1 of reported earnings, AMERICAN RESOURCES CORP (AREC) used $0.19 of operating cash (-$10.4M OCF vs $55.4M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

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