Aemetis, Inc. (AMTX) Stock

Aemetis, Inc. (AMTX) is a Materials stock trading at $2.07 (as of 2026-08-21), with a market capitalization of $137.93M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Aemetis, Inc. operates as a renewable natural gas and renewable fuels company in North America and India. It operates through three segments: California Ethanol, Dairy Renewable Natural Gas, and India Biodiesel. The company focuses on the acquisition, development, and commercialization of negative carbon intensity products and technologies that replace traditional petroleum-based products. It sells biodiesel primarily to government oil marketing companies, transport companies, resellers, distributors, and private refiners through its own sales force and independent sales agents, as well as to brokers who resell the product to end-users. The company also produces and sells ethanol; and wet distillers grains, distillers corn oil, and condensed distillers solubles to dairies and feedlots as animal feed. In addition, it produces dairy biogas; produces and sells high-grade alcohol and various feed products, as well as hand sanitizers; and researches and develops conversion technologies using waste feedstocks to produce biofuels and biochemicals. The company was formerly known as AE Biofuels, Inc. and changed its name to Aemetis, Inc. in November 2011. Aemetis, Inc. was founded in 2005 and is headquartered in Cupertino, California.

Understand Aemetis, Inc.: how it makes money

Aemetis produces renewable natural gas and renewable fuels (California ethanol, dairy renewable natural gas, and India biodiesel) and makes money by commercializing negative carbon intensity products sold through its sales force and independent sales agents, including biodiesel sales to oil marketing and transport customers plus resellers and distributors.

Profit generation is driven by how effectively Aemetis converts production of negative carbon intensity fuels across its three segments into sellable revenue streams, with the dairy renewable natural gas segment explicitly tied to revenue and production tax credits.

Revenue by segment (latest quarter)
Cal Ethanol$0.1B
Dairy RNG$0.0B
India Biodiesel$0.0B

Business quality (Weak): In the latest reported quarter, Aemetis shows low gross margin (5.0%) and an operating loss (operating margin of -11.6%), so investors should focus on whether segment revenue and policy-linked economics can improve.

Bull case

  • Segmented operations give multiple revenue streams, with California ethanol, dairy renewable natural gas, and India biodiesel each contributing to total revenues: The company reports through three segments (California Ethanol, Dairy Renewable Natural Gas, and India Biodiesel).
  • The business is built around negative carbon intensity products that replace traditional petroleum-based products, which can support demand in markets that value lower carbon fuels: The company focuses on the acquisition, development, and commercialization of negative carbon intensity products and technologies.

Bear case

  • The company is currently not generating operating profit in the latest quarter: Operating margin is -11.6% for the period ended 2026-03-31.
  • Revenue in at least one segment is explicitly linked to production tax credits, which can create earnings volatility if those credits change: The operating KPI candidate is labeled 'Biogas Segment Revenue and Production Tax Credits.'
  • Biodiesel sales rely on a specific set of buyer types and channels, which can make sales sensitive to those counterparties: Biodiesel is sold primarily to government oil marketing companies, transport companies, resellers, distributors, and private refiners, using its own sales force and independent sales agents.
Valuation — source: SEC EDGAR (first-party)
Price$2.07
Market Cap$137.93M
Price / Sales0.60
FCF Yield-53.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$197.63M
Net Margin-39.0%
Revenue Growth (YoY)-26.2%
EPS Growth (YoY)-33.0%
FCF Growth (YoY)-57.2%
Financial Health — source: SEC EDGAR
Altman Z-Score-4.60 (distress)
Piotroski F-Score3/9 (weak)
Valuation vs Sector & Industry
Sector P/E (Materials)25.9
Industry P/E (Chemicals)31.1
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD CAPITAL MANAGEMENT LLC ($8.40M)
Institutional Holders Tracked10
Congressional Trades (recent)3
Company
SectorMaterials
IndustryChemicals
CEOEric A. McAfee
Employees223
CountryUS
IPO Date2006-06-27

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AMTX earnings history · AMTX institutional & insider holders · AMTX KPIs & operating metrics · AMTX financials · AMTX investor presentations & press releases · AMTX SEC filings · AMTX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.