Green Plains Financials
This page shows Green Plains (GPRE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).
Positive free cash flow came from balance-sheet release and lower capex while the core operation stayed loss-making.
FY2025 produced free cash flow of$73.7M despite a net loss of-$121.3M . The bridge was not better accounting profit but operating cash flow of$110.9M and capex cut to$37.2M , which reads more like cash released from working capital and lighter reinvestment than an earnings recovery.
The earnings engine is still thin: gross profit was
The company is also operating on a smaller balance sheet: total assets fell to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Green Plains's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Green Plains has an operating margin of -3.2%, meaning the company retains $-3 of operating profit per $100 of revenue. This results in a moderate score of 36/100, indicating healthy but not exceptional operating efficiency. This is down from -1.9% the prior year.
Green Plains's revenue declined 14.9% year-over-year, from $2.5B to $2.1B. This contraction results in a growth score of 5/100.
Green Plains has elevated debt relative to equity (D/E of 0.47), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 9/100, reflecting increased financial risk.
Green Plains's current ratio of 1.94 indicates adequate short-term liquidity, earning a score of 56/100. The company can meet its near-term obligations, though with limited headroom.
Green Plains's free cash flow margin of 3.5% results in a low score of 28/100. Capital expenditures of $37.2M absorb a large share of operating cash flow.
Green Plains's ROE of -15.8% shows moderate profitability relative to equity, earning a score of 32/100. This is down from -9.5% the prior year.
Green Plains scores 1.83, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Green Plains passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Green Plains generates $-0.91 in operating cash flow ($110.9M OCF vs -$121.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Green Plains earns $-0.9 in operating income for every $1 of interest expense (-$67.2M vs $76.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Green Plains generated $2.1B in revenue in fiscal year 2025. This represents a decrease of 14.9% from the prior year.
Green Plains's EBITDA was $31.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 27.7% from the prior year.
Green Plains reported -$121.3M in net income in fiscal year 2025. This represents a decrease of 47.0% from the prior year.
Green Plains earned $-1.80 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 39.5% from the prior year.
Cash & Balance Sheet
Green Plains generated $73.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 158.9% from the prior year.
Green Plains held $182.3M in cash against $362.0M in long-term debt as of fiscal year 2025.
Green Plains had 70M shares outstanding in fiscal year 2025. This represents an increase of 7.9% from the prior year.
Margins & Returns
Green Plains's gross margin was 6.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.
Green Plains's operating margin was -3.2% in fiscal year 2025, reflecting core business profitability. This is down 1.3 percentage points from the prior year.
Green Plains's net profit margin was -5.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.4 percentage points from the prior year.
Green Plains's ROE was -15.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.3 percentage points from the prior year.
Capital Allocation
Green Plains spent $30.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Green Plains invested $37.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 60.9% from the prior year.
GPRE Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $445.8M+4.0% | $428.8M-15.7% | $508.5M-8.0% | $552.8M-8.1% | $601.5M+3.0% | $584.0M-11.3% | $658.7M+6.4% | $618.8M |
| Cost of Revenue | $357.9M-7.9% | $388.7M-14.8% | $456.3M-10.7% | $511.3M-14.6% | $598.5M+3.6% | $577.9M-0.5% | $580.6M-0.1% | $581.0M |
| Gross Profit | $87.9M+119.0% | $40.2M-23.0% | $52.2M+25.5% | $41.6M+1267.9% | $3.0M-50.6% | $6.2M-92.1% | $78.1M+106.5% | $37.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $19.5M-14.5% | $22.9M-22.1% | $29.3M+6.3% | $27.6M-35.7% | $42.9M+67.5% | $25.6M-4.1% | $26.7M-21.3% | $34.0M |
| Operating Income | $44.8M+526.6% | -$10.5M-131.0% | $33.9M+219.4% | -$28.4M+54.4% | -$62.3M-52.2% | -$40.9M-173.0% | $56.1M+416.5% | -$17.7M |
| Interest Expense | $11.5M+88.5% | $6.1M-87.2% | $47.8M+243.6% | $13.9M+55.9% | $8.9M+15.4% | $7.7M-23.4% | $10.1M+34.6% | $7.5M |
| Income Tax | $2.9M+110.2% | -$28.5M-11.2% | -$25.6M-1217.6% | $2.3M+2064.2% | $106K-98.5% | $7.0M+946.2% | -$825K-202.2% | -$273K |
| Net Income | $32.9M+175.9% | $11.9M+0.1% | $11.9M+116.5% | -$72.2M+0.9% | -$72.9M-32.7% | -$54.9M-214.0% | $48.2M+297.9% | -$24.4M |
| EPS (Diluted) | $0.42 | N/A | $0.17+115.6% | $-1.09+4.4% | $-1.14 | N/A | $0.69+281.6% | $-0.38 |
GPRE Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.6B+0.1% | $1.6B+3.4% | $1.5B-5.0% | $1.6B-3.2% | $1.7B-6.5% | $1.8B+1.3% | $1.8B-0.2% | $1.8B |
| Current Assets | $542.3M+3.8% | $522.5M+17.0% | $446.6M+2.4% | $436.2M-3.1% | $450.3M-20.9% | $569.0M+1.4% | $561.4M+1.7% | $551.8M |
| Cash & Equivalents | $95.7M-47.5% | $182.3M+34.2% | $135.9M+25.1% | $108.6M+10.2% | $98.6M-43.0% | $173.0M-23.9% | $227.5M+16.3% | $195.6M |
| Inventory | $25.2M+1.2% | $24.9M-7.5% | $26.9M-18.6% | $33.1M-45.0% | $60.2M-17.4% | $72.9M+15.1% | $63.3M-10.7% | $70.9M |
| Accounts Receivable | $85.9M+15.4% | $74.4M-12.4% | $84.9M+8.2% | $78.5M-19.2% | $97.1M+2.3% | $94.9M+27.0% | $74.7M-24.6% | $99.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $795.7M-2.1% | $812.9M+7.3% | $757.5M-13.1% | $872.1M+1.5% | $859.4M-5.3% | $907.6M+10.6% | $821.0M-7.0% | $882.7M |
| Current Liabilities | $318.0M+18.4% | $268.7M+1.0% | $266.1M-10.4% | $297.0M-8.8% | $325.7M-15.5% | $385.7M+22.0% | $316.1M-3.8% | $328.5M |
| Long-Term Debt | $388.9M+7.4% | $362.0M+18.2% | $306.4M-28.1% | $426.0M-1.4% | $432.2M-0.1% | $432.5M+0.3% | $431.2M-10.9% | $483.8M |
| Total Equity | $785.2M+2.5% | $766.2M-0.3% | $768.9M+4.6% | $735.2M-7.8% | $797.5M-7.8% | $865.2M-6.5% | $925.5M+6.7% | $867.4M |
| Retained Earnings | -$406.6M+7.5% | -$439.6M+2.6% | -$451.5M+2.6% | -$463.4M-18.5% | -$391.2M-22.9% | -$318.3M-20.9% | -$263.4M+15.5% | -$311.6M |
GPRE Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$39.5M-158.7% | $67.3M+69.3% | $39.8M-32.4% | $58.8M+206.8% | -$55.0M-104.1% | -$27.0M-143.0% | $62.7M+514.9% | -$15.1M |
| Capital Expenditures | $6.4M+20.9% | $5.3M+33.0% | $4.0M-64.0% | $11.1M-33.3% | $16.7M-38.7% | $27.3M-3.8% | $28.3M+60.2% | $17.7M |
| Free Cash Flow | -$45.9M-174.1% | $62.0M+73.4% | $35.8M-25.0% | $47.7M+166.4% | -$71.8M-32.3% | -$54.2M-257.7% | $34.4M+204.8% | -$32.8M |
| Investing Cash Flow | -$4.4M+49.7% | -$8.8M-104.3% | $203.3M+1848.1% | -$11.6M+43.8% | -$20.7M+24.5% | -$27.4M-231.3% | $20.9M+182.6% | -$25.3M |
| Financing Cash Flow | -$3.0M+92.4% | -$40.0M+78.3% | -$184.2M-775.1% | -$21.0M-198.9% | -$7.0M-159.5% | $11.8M+120.9% | -$56.7M-378.2% | -$11.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $5.2M | $0 | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
GPRE Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.7%+10.4pp | 9.4%-0.9pp | 10.3%+2.7pp | 7.5%+7.0pp | 0.5%-0.5pp | 1.1%-10.8pp | 11.9%+5.8pp | 6.1% |
| Operating Margin | 10.0%+12.5pp | -2.5%-9.1pp | 6.7%+11.8pp | -5.1%+5.2pp | -10.3%-3.3pp | -7.0%-15.5pp | 8.5%+11.4pp | -2.9% |
| Net Margin | 7.4%+4.6pp | 2.8%+0.4pp | 2.4%+15.4pp | -13.1%-1.0pp | -12.1%-2.7pp | -9.4%-16.7pp | 7.3%+11.3pp | -3.9% |
| Return on Equity | 4.2%+2.6pp | 1.6%0.0pp | 1.6%+11.4pp | -9.8%-0.7pp | -9.1%-2.8pp | -6.3%-11.6pp | 5.2%+8.0pp | -2.8% |
| Return on Assets | 2.1%+1.3pp | 0.8%-0.0pp | 0.8%+5.3pp | -4.5%-0.1pp | -4.4%-1.3pp | -3.1%-5.8pp | 2.7%+4.1pp | -1.4% |
| Current Ratio | 1.71-0.2 | 1.94+0.3 | 1.68+0.2 | 1.47+0.1 | 1.38-0.1 | 1.48-0.3 | 1.78+0.1 | 1.68 |
| Debt-to-Equity | 0.50+0.0 | 0.47+0.1 | 0.40-0.2 | 0.58+0.0 | 0.54+0.0 | 0.50+0.0 | 0.47-0.1 | 0.56 |
| FCF Margin | -10.3%-24.8pp | 14.5%+7.4pp | 7.0%-1.6pp | 8.6%+20.6pp | -11.9%-2.6pp | -9.3%-14.5pp | 5.2%+10.5pp | -5.3% |
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Frequently Asked Questions
What is Green Plains's annual revenue?
Green Plains (GPRE) reported $2.1B in total revenue for fiscal year 2025. This represents a -14.9% 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 Green Plains's revenue growing?
Green Plains (GPRE) revenue declined by 14.9% year-over-year, from $2.5B to $2.1B in fiscal year 2025.
Is Green Plains profitable?
No, Green Plains (GPRE) reported a net income of -$121.3M in fiscal year 2025, with a net profit margin of -5.8%.
What is Green Plains's EBITDA?
Green Plains (GPRE) had EBITDA of $31.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Green Plains have?
As of fiscal year 2025, Green Plains (GPRE) had $182.3M in cash and equivalents against $362.0M in long-term debt.
What is Green Plains's gross margin?
Green Plains (GPRE) had a gross margin of 6.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Green Plains's operating margin?
Green Plains (GPRE) had an operating margin of -3.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Green Plains's net profit margin?
Green Plains (GPRE) had a net profit margin of -5.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Green Plains's return on equity (ROE)?
Green Plains (GPRE) has a return on equity of -15.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Green Plains's free cash flow?
Green Plains (GPRE) generated $73.7M in free cash flow during fiscal year 2025. This represents a 158.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Green Plains's operating cash flow?
Green Plains (GPRE) generated $110.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Green Plains's total assets?
Green Plains (GPRE) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Green Plains's capital expenditures?
Green Plains (GPRE) invested $37.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Green Plains's current ratio?
Green Plains (GPRE) had a current ratio of 1.94 as of fiscal year 2025, which is generally considered healthy.
What is Green Plains's debt-to-equity ratio?
Green Plains (GPRE) had a debt-to-equity ratio of 0.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Green Plains's return on assets (ROA)?
Green Plains (GPRE) had a return on assets of -7.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Green Plains's Altman Z-Score?
Green Plains (GPRE) has an Altman Z-Score of 1.83, placing it in the Grey Zone (moderate 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.
What is Green Plains's Piotroski F-Score?
Green Plains (GPRE) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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.
Are Green Plains's earnings high quality?
Green Plains (GPRE) has an earnings quality ratio of -0.91x, considered mixed quality. 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.
Can Green Plains cover its interest payments?
Green Plains (GPRE) has an interest coverage ratio of -0.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Green Plains?
Green Plains (GPRE) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.