What is HIGHWATER ETHANOL LLC's earnings per share (EPS)?

HIGHWATER ETHANOL LLC (HEOL) reported diluted earnings per share of $3435.75 for fiscal year 2025. This represents a 167.1% 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.

HIGHWATER ETHANOL LLC (HEOL) Financials

HEOL

Trailing 12 months to July 31, 2026

Revenue $149.9M +11.2% YoY

Net Income $39.9M +1110.1% YoY

EPS (Diluted) $8394.49 +1110.6% YoY

Free Cash Flow $27.7M +436.5% YoY

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Jul 31, 2026 Reported Sep 11, 2026 Currency USD FYE October

Newest figures come from the 10-Q for Q3 FY2026, filed Sep 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HEOL SEC filings page.

HIGHWATER ETHANOL LLC (HEOL) reported $149.9M in revenue over the twelve months to Jul 31, 2026, up 11.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 HEOL FY2025 2026-08-30

Profit recovery is not yet translating into cash because fixed investment and weaker operating conversion absorb the reported earnings.

FY2025 earnings quality diverged sharply: net income reached $16.3M, but operating cash flow was only $3.5M and free cash flow turned negative at -$2.3M. With capital expenditures of $5.7M, the business appears profitable on an accounting basis while current operations did not fund reinvestment.

The operating model has not regained its FY2022 economics. Revenue fell from $221.4M in FY2022 to $141.2M in FY2025, while operating margin compressed from 13.1% to 3.5%; the slight FY2025 margin improvement from 3.3% suggests stabilization at a lower earnings base, not restored scale.

Balance-sheet liquidity is conservatively positioned on the reported measures: the current ratio rose to 375.3% in FY2025, while long-term debt was $0. However, inventory increased from $14.2M in FY2024 to $16.8M in FY2025 as operating cash generation weakened, indicating more cash tied up in stock even as receivables declined.

Financial Health Signals

Financial health score not available

HIGHWATER ETHANOL LLC 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.

Piotroski F-Score Neutral

6/9

HIGHWATER ETHANOL LLC passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.21x

For every $1 of reported earnings, HIGHWATER ETHANOL LLC generates $0.21 in operating cash flow ($3.5M OCF vs $16.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

23.55x

HIGHWATER ETHANOL LLC earns $23.55 in operating income for every $1 of interest expense ($5.0M vs $212K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$39.1M

YoY+12.1%

QoQ+1.9%

5Y CAGR-3.6%

10Y CAGR+3.7%

HIGHWATER ETHANOL LLC generated $39.1M in revenue in Q3 2026. This represents an increase of 12.1% from the same quarter a year earlier. Against the prior quarter it is up 1.9%.

EBITDA

$7.2M

YoY+147.1%

QoQ+13.3%

5Y CAGR-3.1%

10Y CAGR+9.6%

HIGHWATER ETHANOL LLC's EBITDA was $7.2M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 147.1% from the same quarter a year earlier. Against the prior quarter it is up 13.3%.

Net Income

$10.8M

YoY+545.7%

QoQ+30.3%

5Y CAGR+12.3%

10Y CAGR+26.1%

HIGHWATER ETHANOL LLC reported $10.8M in net income in Q3 2026. This represents an increase of 545.7% from the same quarter a year earlier. Against the prior quarter it is up 30.3%.

EPS (Diluted)

$2281.82

YoY+546.1%

QoQ+30.4%

5Y CAGR+12.4%

HIGHWATER ETHANOL LLC earned $2281.82 per diluted share (EPS) in Q3 2026. This represents an increase of 546.1% from the same quarter a year earlier. Against the prior quarter it is up 30.4%.

Cash & Balance Sheet

Free Cash Flow

$12.0M

YoY+3516.5%

QoQ+268.4%

5Y CAGR+0.9%

10Y CAGR+15.9%

HIGHWATER ETHANOL LLC generated $12.0M in free cash flow in Q3 2026, representing cash available after capex. This represents an increase of 3516.5% from the same quarter a year earlier. Against the prior quarter it is up 268.4%.

Cash & Debt

$34.9M

YoY+151.9%

QoQ+51.8%

5Y CAGR+109.6%

10Y CAGR+23.7%

HIGHWATER ETHANOL LLC held $34.9M in cash against $0 in long-term debt as of Q3 2026.

Shares Outstanding

4,749

YoY-0.1%

QoQ0.0%

5Y CAGR-0.1%

10Y CAGR-0.3%

HIGHWATER ETHANOL LLC had 4,749 shares outstanding in Q3 2026. This represents a decrease of 0.1% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q3 2026.

Margins & Returns

Gross Margin

19.1%

YoY+12.1pp

QoQ+2.2pp

5Y change+4.4pp

10Y change+13.6pp

HIGHWATER ETHANOL LLC's gross margin was 19.1% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is up 12.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.

Operating Margin

14.5%

YoY+10.2pp

QoQ+2.0pp

5Y change+1.5pp

10Y change+11.0pp

HIGHWATER ETHANOL LLC's operating margin was 14.5% in Q3 2026, reflecting core business profitability. This is up 10.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Net Margin

27.7%

YoY+22.9pp

QoQ+6.0pp

5Y change+14.8pp

10Y change+23.8pp

HIGHWATER ETHANOL LLC's net profit margin was 27.7% in Q3 2026, showing the share of revenue converted to profit. This is up 22.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.0 percentage points.

Return on Equity

Not reported for Q3 2026.

Capital Allocation

Capital Expenditures

$4.0M

YoY+109.8%

QoQ+13615.9%

5Y CAGR+54.5%

10Y CAGR+10.8%

HIGHWATER ETHANOL LLC invested $4.0M in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 109.8% from the same quarter a year earlier. Against the prior quarter it is up 13615.9%.

R&D Spending

Not reported for Q3 2026.

Share Buybacks

Not reported for Q3 2026.

HEOL 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.

HEOL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$149.9M	$141.2M-0.5%	$141.8M-28.8%	$199.1M-10.1%	$221.4M+39.5%	$158.7M+63.2%	$97.3M0.0%	$97.2M+2.4%	$94.9M-5.3%	$100.2M+1.3%	$98.9M-10.2%	$110.2M-21.0%	$139.6M-17.2%	$168.7M+7.7%	$156.6M-2.3%	$160.4M
Cost of Revenue	N/A	$131.6M-0.9%	$132.8M-26.0%	$179.5M-4.8%	$188.4M+31.6%	$143.2M+43.4%	$99.8M-1.9%	$101.8M+4.1%	$97.7M+4.5%	$93.5M-2.2%	$95.6M-6.6%	$102.3M-8.1%	$111.4M-30.1%	$159.3M+2.3%	$155.8M+4.2%	$149.5M
Gross Profit	$23.1M	$9.6M+6.5%	$9.0M-53.9%	$19.6M-40.6%	$32.9M+111.8%	$15.5M+707.8%	-$2.6M+43.3%	-$4.5M-62.3%	-$2.8M-141.2%	$6.7M+99.4%	$3.4M-57.2%	$7.9M-72.0%	$28.2M+200.7%	$9.4M+986.3%	$863K-92.0%	$10.8M
Operating Income	$17.0M	$5.0M+6.3%	$4.7M-69.4%	$15.4M-46.9%	$28.9M+135.1%	$12.3M+301.5%	-$6.1M+20.8%	-$7.7M-36.0%	-$5.7M-241.4%	$4.0M+473.3%	$699K-87.3%	$5.5M-78.9%	$26.0M+243.8%	$7.6M+903.2%	-$941K-110.4%	$9.1M
EBITDA	N/A	$10.7M-19.2%	$13.2M-48.1%	$25.4M-35.3%	$39.3M+77.9%	$22.1M+610.4%	$3.1M+151.2%	$1.2M-58.5%	$3.0M-75.4%	$12.1M+47.8%	$8.2M-34.0%	$12.4M-62.2%	$32.9M+132.6%	$14.1M+151.7%	$5.6M-64.1%	$15.6M
Interest Expense	N/A	$212K-3.5%	$220K-3.1%	$227K-19.5%	$282K-45.4%	$516K-24.9%	$687K-21.2%	$872K+22.3%	$713K+1.8%	$700K-5.5%	$741K-30.7%	$1.1M-67.7%	$3.3M-18.2%	$4.0M-5.5%	$4.3M-9.7%	$4.7M
Net Income	$39.9M	$16.3M+167.0%	$6.1M-63.5%	$16.7M-49.8%	$33.3M+142.5%	$13.7M+315.8%	-$6.4M+23.1%	-$8.3M-34.3%	-$6.2M-275.0%	$3.5M+573.3%	$523K-89.7%	$5.1M-77.0%	$21.9M+354.7%	$4.8M+217.0%	-$4.1M-180.2%	$5.1M
EPS (Basic)	N/A	$3435.75+167.1%	$1286.27-63.4%	$3518.88-49.7%	$6998.20+143.9%	$2869.87+316.5%	-$1325.46+23.0%	-$1720.57	N/A	N/A	N/A	N/A	N/A	N/A	-$832.81-180.2%	$1038.43
EPS (Diluted)	$8394.49	$3435.75+167.1%	$1286.27-63.4%	$3518.88-49.7%	$6998.20+143.9%	$2869.87+316.5%	-$1325.46+23.0%	-$1720.57	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	4,7520.0%	4,754-0.1%	4,757-0.1%	4,762-0.5%	4,788-0.3%	4,803	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Revenue	$39.1M+12.1%	$38.4M+9.4%	$34.4M+3.6%	$38.0M+20.3%	$34.9M-6.9%	$35.1M-1.3%	$33.2M-10.8%	$31.6M-35.3%
Cost of Revenue	$31.6M-2.4%	$31.9M-7.6%	$30.9M-4.2%	N/A	$32.4M+1.2%	$34.5M+3.6%	$32.2M-9.4%	N/A
Gross Profit	$7.5M+204.8%	$6.5M+1082.5%	$3.5M+263.1%	$5.6M+104.1%	$2.5M-54.8%	$547K-75.2%	$970K-40.7%	$2.8M-58.1%
Operating Income	$5.7M+279.5%	$4.8M+813.5%	$2.1M+743.7%	$4.5M+202.0%	$1.5M-66.5%	-$672K+58.0%	-$324K-191.6%	$1.5M-73.3%
EBITDA	$7.2M+147.1%	$6.4M+753.0%	$3.7M+249.6%	$5.9M+113.5%	$2.9M-56.8%	$747K-8.1%	$1.0M-62.9%	$2.8M-65.2%
Interest Expense	$49K-2.9%	$49K-3.1%	$60K-2.6%	N/A	$50K-3.8%	$50K-4.2%	$62K-2.7%	N/A
Net Income	$10.8M+545.7%	$8.3M+1833.5%	$5.6M+67424.5%	$15.1M+623.8%	$1.7M-65.0%	-$480K+70.0%	$8K-99.0%	$2.1M-64.9%
EPS (Basic)	$2281.82+546.1%	$1750.34+1833.9%	$1180.54+67359.4%	$3181.79+624.0%	$353.16-65.0%	-$100.95+70.0%	$1.75-99.0%	$439.45-64.9%
EPS (Diluted)	$2281.82+546.1%	$1750.34+1833.9%	$1180.54+67359.4%	$3181.79+624.0%	$353.16-65.0%	-$100.95+70.0%	$1.75-99.0%	$439.45-64.9%
Diluted Shares (Avg)	4,749-0.1%	4,7510.0%	4,7520.0%	N/A	4,7520.0%	4,7520.0%	4,7530.0%	N/A

Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses, Income Tax.

HEOL Balance Sheet

HEOL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$89.9M+1.4%	$88.7M-12.2%	$101.0M-0.1%	$101.2M+17.2%	$86.3M+17.1%	$73.7M-0.4%	$74.0M-6.9%	$79.5M-8.3%	$86.7M-5.6%	$91.9M-6.5%	$98.2M-6.3%	$104.8M+5.0%	$99.8M-1.9%	$101.7M-8.3%	$110.9M
Current Assets	$43.4M-17.9%	$52.9M-15.0%	$62.2M+13.8%	$54.7M+75.4%	$31.2M+98.5%	$15.7M+24.6%	$12.6M+16.2%	$10.9M-8.4%	$11.8M-14.3%	$13.8M-22.7%	$17.9M-27.0%	$24.5M+58.7%	$15.4M+38.0%	$11.2M-28.7%	$15.7M
Cash & Equivalents	$23.5M-30.7%	$33.8M-18.5%	$41.5M+39.4%	$29.8M+294.6%	$7.5M+1031.2%	$667K-59.3%	$1.6M+280.6%	$431K-41.7%	$738K-65.3%	$2.1M-76.9%	$9.2M-40.7%	$15.5M+97.1%	$7.9M+449.5%	$1.4M-58.2%	$3.4M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$16.8M+18.1%	$14.2M-11.6%	$16.1M-16.1%	$19.2M+30.2%	$14.7M+38.1%	$10.7M+44.9%	$7.4M-8.7%	$8.1M+9.3%	$7.4M+6.1%	$7.0M+36.3%	$5.1M+18.9%	$4.3M+19.4%	$3.6M-13.3%	$4.1M-0.5%	$4.2M
Accounts Receivable	$1.9M-42.4%	$3.3M+11.8%	$2.9M-26.1%	$4.0M-49.0%	$7.8M+105.1%	$3.8M+28.2%	$3.0M+125.1%	$1.3M-53.6%	$2.8M-31.4%	$4.1M+39.0%	$3.0M-32.1%	$4.4M+33.9%	$3.3M-33.6%	$4.9M-34.2%	$7.5M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	$18.0M+18.3%	$15.2M+4.5%	$14.6M-30.5%	$21.0M-17.9%	$25.6M-18.9%	$31.5M-34.9%	$48.5M-12.1%	$55.2M-7.8%	$59.9M
Current Liabilities	$11.6M-37.2%	$18.4M-10.5%	$20.6M-6.0%	$21.9M+2.6%	$21.3M+67.2%	$12.7M+18.1%	$10.8M+34.5%	$8.0M+20.6%	$6.7M-7.5%	$7.2M+4.0%	$6.9M-4.3%	$7.2M-0.2%	$7.2M+8.7%	$6.7M-13.9%	$7.7M
Non-Current Liabilities	$493K-23.0%	$641K-17.9%	$780K-23.7%	$1.0M-43.3%	$1.8M-84.2%	$11.4M+57.6%	$7.2M+0.3%	$7.2M-9.1%	$7.9M-42.5%	$13.8M-26.0%	$18.7M-23.2%	$24.3M-41.0%	$41.2M-15.0%	$48.5M-6.9%	$52.1M
Long-Term Debt	$0	$0	$0	$0-100.0%	$499K-94.9%	$9.8M+35.9%	$7.2M+0.3%	$7.2M-9.1%	$7.9M-42.5%	$13.8M-26.0%	$18.7M-23.2%	$24.3M-41.0%	$41.2M-13.8%	$47.9M-6.2%	$51.0M
Total Equity	N/A	N/A	N/A	N/A	N/A	N/A	$56.0M-12.9%	$64.3M-10.9%	$72.1M+1.8%	$70.9M-2.4%	$72.6M-0.9%	$73.3M+42.8%	$51.3M+10.3%	$46.5M-8.9%	$51.1M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Total Assets	$103.9M+44.9%	$93.9M+38.7%	$87.4M+21.5%	$89.9M+1.4%	$71.7M-12.0%	$67.7M-9.0%	$71.9M-10.9%	$88.7M-12.2%
Current Assets	$57.4M+61.6%	$42.3M+31.6%	$37.5M+1.7%	$43.4M-17.9%	$35.5M-23.4%	$32.1M-16.6%	$36.8M-13.7%	$52.9M-15.0%
Cash & Equivalents	$34.9M+151.9%	$23.0M+69.5%	$19.8M+28.1%	$23.5M-30.7%	$13.8M-54.3%	$13.6M-35.4%	$15.4M-32.4%	$33.8M-18.5%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$19.2M+5.1%	$15.9M+7.8%	$14.7M-16.0%	$16.8M+18.1%	$18.3M+34.1%	$14.8M+11.8%	$17.5M+9.1%	$14.2M-11.6%
Accounts Receivable	$2.5M-8.6%	$2.6M-9.4%	$2.0M-25.6%	$1.9M-42.4%	$2.8M+72.7%	$2.8M-12.7%	$2.7M+1.8%	$3.3M+11.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Current Liabilities	$7.5M-10.3%	$8.4M+38.2%	$10.1M+3.4%	$11.6M-37.2%	$8.4M-36.4%	$6.1M-44.3%	$9.8M-37.4%	$18.4M-10.5%
Non-Current Liabilities	$378K-28.9%	$417K-26.6%	$455K-24.7%	$493K-23.0%	$531K-21.5%	$568K-20.1%	$605K-18.9%	$641K-17.9%
Long-Term Debt	$0	$0	$0	$0	$0	$0	$0	$0

Not reported in any period shown, so not listed: Goodwill, Total Liabilities, Total Equity, Retained Earnings.

HEOL Cash Flow Statement

HEOL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$34.5M	$3.5M-75.4%	$14.1M-51.4%	$29.1M-36.1%	$45.5M+102.9%	$22.4M+9141.2%	-$248K-108.4%	$3.0M-32.7%	$4.4M-64.7%	$12.5M+103.4%	$6.1M-45.9%	$11.3M-58.7%	$27.4M+130.6%	$11.9M+208.0%	$3.9M-58.8%	$9.4M
Depreciation & Amortization	N/A	$5.7M-33.3%	$8.5M-15.5%	$10.0M-2.5%	$10.3M+5.8%	$9.8M+5.8%	$9.2M+3.0%	$8.9M+3.4%	$8.6M+6.6%	$8.1M+8.2%	$7.5M+8.2%	$6.9M+0.4%	$6.9M+4.9%	$6.6M+0.4%	$6.6M0.0%	$6.6M
Capital Expenditures	$6.8M	$5.7M+3.9%	$5.5M+332.3%	$1.3M-6.0%	$1.4M-80.1%	$6.8M+108.5%	$3.3M+91.6%	$1.7M-24.9%	$2.3M-55.7%	$5.1M-0.4%	$5.2M-23.2%	$6.7M+385.1%	$1.4M+571.7%	$206K-78.0%	$939K+12.4%	$836K
Free Cash Flow	$27.7M	-$2.3M-126.3%	$8.6M-69.0%	$27.8M-37.0%	$44.1M+183.1%	$15.6M+542.3%	-$3.5M-382.2%	$1.2M-41.1%	$2.1M-71.0%	$7.3M+657.8%	$965K-79.0%	$4.6M-82.3%	$26.0M+122.8%	$11.7M+300.1%	$2.9M-65.8%	$8.5M
Investing Cash Flow	-$6.7M	-$5.6M-1.6%	-$5.5M-197.2%	-$1.9M-36.7%	-$1.4M+80.1%	-$6.8M-108.5%	-$3.3M-91.6%	-$1.7M+24.9%	-$2.3M+55.6%	-$5.1M+0.7%	-$5.2M+18.2%	-$6.3M-2424.4%	-$250K+43.3%	-$440K+68.4%	-$1.4M-10.6%	-$1.3M
Financing Cash Flow	-$6.8M	-$8.2M+49.4%	-$16.3M-5.4%	-$15.5M+29.3%	-$21.9M-151.3%	-$8.7M-441.0%	$2.6M+6446.4%	-$40K+98.3%	-$2.4M+72.2%	-$8.7M-8.5%	-$8.0M+29.0%	-$11.3M+41.9%	-$19.5M-290.0%	-$5.0M-12.1%	-$4.5M+47.7%	-$8.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$500K	$0
Share Buybacks	N/A	N/A	N/A	N/A	$117K+31.7%	$89K+61.4%	$55K+40.3%	$39K+145.0%	$16K-97.1%	$550K+78.6%	$308K+126.5%	$136K	$0	$0	N/A	N/A

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Operating Cash Flow	$16.0M+608.2%	$3.3M+5820.9%	$4.3M+144.0%	$11.0M+90.8%	$2.3M-79.3%	-$57K+96.4%	-$9.7M-927.9%	$5.8M-72.4%
Depreciation & Amortization	$1.6M+9.0%	$1.6M+10.9%	$1.6M+15.2%	$1.4M+11.5%	$1.4M-38.2%	$1.4M-41.2%	$1.4M-44.4%	$1.3M-46.8%
Capital Expenditures	$4.0M+109.8%	$29K-98.5%	$1.4M+148.8%	$1.3M-35.8%	$1.9M+25.1%	$1.9M+448.9%	$555K-64.1%	$2.1M+622.9%
Free Cash Flow	$12.0M+3516.5%	$3.2M+264.5%	$2.9M+128.2%	$9.6M+162.9%	$330K-96.5%	-$2.0M-2.7%	-$10.3M-311.8%	$3.7M-82.1%
Investing Cash Flow	-$4.0M-109.8%	-$28K+98.4%	-$1.2M-125.1%	-$1.3M+38.9%	-$1.9M-25.1%	-$1.8M-631.0%	-$555K+64.1%	-$2.2M-658.9%
Financing Cash Flow	-$47K-34.1%	-$57K-26.8%	-$6.7M+17.7%	-$36K-5.6%	-$35K-5.6%	-$45K-36.2%	-$8.1M+49.8%	-$34K+19.6%
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$10K	$10K	N/A

Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid.

HEOL 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.

HEOL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	6.8%+0.4pp	6.4%-3.5pp	9.8%-5.0pp	14.9%+5.1pp	9.8%+12.4pp	-2.6%+2.0pp	-4.6%-1.7pp	-2.9%-9.7pp	6.7%+3.3pp	3.4%-3.8pp	7.2%-13.0pp	20.2%+14.6pp	5.6%+5.0pp	0.5%-6.2pp	6.8%
Operating Margin	3.5%+0.2pp	3.3%-4.4pp	7.7%-5.4pp	13.1%+5.3pp	7.8%+14.0pp	-6.3%+1.7pp	-7.9%-2.0pp	-6.0%-10.0pp	4.0%+3.3pp	0.7%-4.3pp	5.0%-13.6pp	18.6%+14.1pp	4.5%+5.1pp	-0.6%-6.3pp	5.7%
Net Margin	11.6%+7.3pp	4.3%-4.1pp	8.4%-6.6pp	15.0%+6.4pp	8.7%+15.2pp	-6.6%+2.0pp	-8.5%-2.0pp	-6.5%-10.0pp	3.5%+3.0pp	0.5%-4.0pp	4.6%-11.1pp	15.7%+12.8pp	2.9%+5.5pp	-2.6%-5.8pp	3.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	-14.8%-5.2pp	-9.6%-14.5pp	4.9%+4.1pp	0.7%-6.2pp	7.0%-23.0pp	29.9%+20.5pp	9.4%+18.3pp	-8.9%-18.9pp	10.1%
Return on Assets	18.1%+11.3pp	6.9%-9.7pp	16.6%-16.4pp	32.9%+17.0pp	15.9%+24.5pp	-8.6%+2.5pp	-11.2%-3.4pp	-7.7%-11.8pp	4.1%+3.5pp	0.6%-4.6pp	5.1%-15.8pp	20.9%+16.1pp	4.8%+8.9pp	-4.1%-8.7pp	4.6%
Current Ratio	3.75+0.9x	2.87-0.2x	3.03+0.5x	2.50+1.0x	1.46+0.2x	1.23+0.1x	1.17-0.2x	1.35-0.4x	1.78-0.1x	1.92-0.7x	2.58-0.8x	3.39+1.3x	2.13+0.5x	1.68-0.3x	2.03
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	0.130.0x	0.110.0x	0.11-0.1x	0.19-0.1x	0.26-0.1x	0.33-0.5x	0.80-0.2x	1.030.0x	1.00
Asset Turnover	1.570.0x	1.60-0.4x	1.97-0.2x	2.19+0.3x	1.84+0.5x	1.320.0x	1.31+0.1x	1.190.0x	1.16+0.1x	1.080.0x	1.12-0.2x	1.33-0.4x	1.69+0.1x	1.54+0.1x	1.45
FCF Margin	-1.6%-7.7pp	6.1%-7.9pp	14.0%-6.0pp	19.9%+10.1pp	9.8%+13.4pp	-3.6%-4.9pp	1.3%-0.9pp	2.2%-5.1pp	7.3%+6.3pp	1.0%-3.2pp	4.2%-14.4pp	18.6%+11.7pp	6.9%+5.1pp	1.9%-3.5pp	5.3%

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Gross Margin	19.1%+12.1pp	16.9%+15.3pp	10.2%+7.3pp	14.8%+6.1pp	7.0%-7.4pp	1.6%-4.6pp	2.9%-1.5pp	8.8%-4.8pp
Operating Margin	14.5%+10.2pp	12.5%+14.4pp	6.1%+7.0pp	11.8%+7.1pp	4.3%-7.6pp	-1.9%+2.6pp	-1.0%-1.9pp	4.7%-6.7pp
Net Margin	27.7%+22.9pp	21.7%+23.0pp	16.3%+16.3pp	39.8%+33.2pp	4.8%-8.0pp	-1.4%+3.1pp	0.0%-2.2pp	6.6%-5.6pp
Return on Assets	10.4%+8.1pp	8.8%+9.6pp	6.4%+6.4pp	16.8%+14.4pp	2.3%-3.6pp	-0.7%+1.4pp	0.0%-1.0pp	2.4%-3.5pp
Current Ratio	7.62+3.4x	5.04-0.3x	3.70-0.1x	3.75+0.9x	4.23+0.7x	5.29+1.8x	3.77+1.0x	2.87-0.2x
Asset Turnover	0.38-0.1x	0.41-0.1x	0.39-0.1x	0.42+0.1x	0.490.0x	0.520.0x	0.460.0x	0.36-0.1x
FCF Margin	30.6%+29.6pp	8.5%+14.1pp	8.4%+39.3pp	25.4%+13.8pp	0.9%-24.0pp	-5.6%-0.2pp	-30.9%-24.2pp	11.6%-30.4pp

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

Where HIGHWATER ETHANOL LLC Ranks

Frequently Asked Questions

What is HIGHWATER ETHANOL LLC's annual revenue?

HIGHWATER ETHANOL LLC (HEOL) reported $141.2M in total revenue for fiscal year 2025. This represents a -0.5% 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 HIGHWATER ETHANOL LLC's revenue growing?

HIGHWATER ETHANOL LLC (HEOL) revenue declined by 0.5% year-over-year, from $141.8M to $141.2M in fiscal year 2025.

Is HIGHWATER ETHANOL LLC profitable?

Yes, HIGHWATER ETHANOL LLC (HEOL) reported a net income of $16.3M in fiscal year 2025, with a net profit margin of 11.6%.

What is HIGHWATER ETHANOL LLC's EBITDA?

HIGHWATER ETHANOL LLC (HEOL) had EBITDA of $10.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does HIGHWATER ETHANOL LLC have?

As of fiscal year 2025, HIGHWATER ETHANOL LLC (HEOL) had $23.5M in cash and equivalents against $0 in long-term debt.

What is HIGHWATER ETHANOL LLC's gross margin?

HIGHWATER ETHANOL LLC (HEOL) had a gross margin of 6.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is HIGHWATER ETHANOL LLC's operating margin?

HIGHWATER ETHANOL LLC (HEOL) had an operating margin of 3.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is HIGHWATER ETHANOL LLC's net profit margin?

HIGHWATER ETHANOL LLC (HEOL) had a net profit margin of 11.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is HIGHWATER ETHANOL LLC's free cash flow?

HIGHWATER ETHANOL LLC (HEOL) recorded an outflow of $2.3M in free cash flow during fiscal year 2025. This represents a -126.3% 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 HIGHWATER ETHANOL LLC's operating cash flow?

HIGHWATER ETHANOL LLC (HEOL) generated $3.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are HIGHWATER ETHANOL LLC's total assets?

HIGHWATER ETHANOL LLC (HEOL) had $89.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are HIGHWATER ETHANOL LLC's capital expenditures?

HIGHWATER ETHANOL LLC (HEOL) invested $5.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does HIGHWATER ETHANOL LLC have outstanding?

HIGHWATER ETHANOL LLC (HEOL) had 4,752 shares outstanding as of fiscal year 2025.

What is HIGHWATER ETHANOL LLC's current ratio?

HIGHWATER ETHANOL LLC (HEOL) had a current ratio of 3.75 as of fiscal year 2025, which is generally considered healthy.

What is HIGHWATER ETHANOL LLC's return on assets (ROA)?

HIGHWATER ETHANOL LLC (HEOL) had a return on assets of 18.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is HIGHWATER ETHANOL LLC's Piotroski F-Score?

HIGHWATER ETHANOL LLC (HEOL) has a Piotroski F-Score of 6 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 HIGHWATER ETHANOL LLC's earnings high quality?

HIGHWATER ETHANOL LLC (HEOL) has an earnings quality ratio of 0.21x, considered low quality (accrual-driven). 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 HIGHWATER ETHANOL LLC cover its interest payments?

HIGHWATER ETHANOL LLC (HEOL) has an interest coverage ratio of 23.55x, meaning it can comfortably 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.