American Resources Corporation

AREC

Coal · Energy

Price

$2.68

+0.11 (+4.28%)

Market Cap

$286.7M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Strong

Dividends

Good

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Share count rising — dilution

+58.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 55.2M (2021) → 87.3M (2025)

Winston Score History

The full picture

American Resources Corporation engages in the extraction, processing, transportation, distribution, and sale of metallurgical coal to the steel industries. The company supplies raw materials; and sells coal used in pulverized coal injections. It has a portfolio of operations located in the Pike, Knott, and Letcher Counties in Kentucky; and Wyoming County, West Virginia. American Resources Corporation was founded in 2006 and is headquartered in Fishers, Indiana.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-291.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+473.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$107,507/ year

Research and development spending

Insider Activity

19.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 years

$105M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$105M cash & investments at current burn rate

Revenue declining

American Resources Corporation's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-75.3%

Thin — -75.3% gross margin

Profit after running costs

Operating Margin

-5546.9%

Losing money on operations — -5546.9%

Return on the money invested

ROCE

-10.7%

Weak — -10.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-100.0%

Shrinking sales (-100.0% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

-35%

Weak — only -35% of profit becomes cash

Spare cash per sale

FCF Margin

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

0.06

Conservative — low debt load (0.06)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

4.3x

Attractive valuation — P/E 4.3

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

+3.0

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

6.42%

Healthy income — 6.42% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

N/A

no trend

Data not available

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