Aemetis

AMTX

Chemicals - Specialty · Basic Materials

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

Aemetis is a renewable fuels and biochemicals company based in California. It makes ethanol and biodiesel, which are cleaner-burning alternatives to regular gasoline and diesel. Its main customers are fuel blenders and distributors, and it sells into the transportation fuel market under government programs that reward low-carbon fuels.

The company earns revenue by selling ethanol from its California plant and biodiesel from a facility in India, making it a small, two-country operation. Its financial margins are very thin, and it currently loses money at the operating level, which reflects the high cost of producing renewable fuels. Aemetis is betting on growth from California's Low Carbon Fuel Standard credits and planned expansions into renewable natural gas and sustainable aviation fuel — but its heavy debt load and dependence on government incentive programs remain the biggest risks to its survival.

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

+20.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+68.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

7.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~0 months

$973,000 cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Aemetis has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

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Quality

Profit per sale

Gross Margin

21.6%

Thin — 21.6% gross margin

Profit after running costs

Operating Margin

9.2%

Modest — 9.2% operating margin

Return on the money invested

ROCE

6.2%

Weak — 6.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+3.0%

Nearly flat sales (+3.0% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-24.5%

Burning cash (-24.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

—

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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