Latest Ratios: P/E Ratio 3.1x · EV/EBITDA N/A · ROE 982.5%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $206M | $216M | $78M | $112M | $88M | $99M | $57M | $15M | $35M | $39620 | — |
| Enterprise Value | $183M | $193M | $298M | $158M | $100M | $104M | $77M | $49M | $55M | $15M | — |
| P/E Ratio → | 3.06 | 3.94 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | 203.52 | 8.49 | 2.22 | 12.82 | 54.03 | 0.62 | 1.11 | 0.00 | — |
| P/B Ratio | 1.81 | 2.32 | — | — | 307.48 | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | 34.34 | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | 777.35 | 11.95 | 2.54 | 13.36 | 72.98 | 1.99 | 1.75 | 0.70 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | -568.7% | 9.5% | 35.5% | -8.2% | -382.0% | -23.8% | 10.6% | -2.4% | 45.1% |
| Operating Margin | — | — | -8634.2% | -274.9% | -49.4% | -363.9% | -1552.1% | -244.9% | -39.0% | -67.3% | -512.6% |
| Net Profit Margin | — | — | -10465.9% | -291.1% | -3.7% | -419.1% | -967.8% | -289.7% | -40.9% | -69.0% | -487.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 982.5% | 982.5% | — | — | -507.8% | — | — | — | — | — | -144.9% |
| ROA | 29.6% | 29.6% | -29.7% | -63.9% | -2.9% | -80.0% | -27.9% | -185.2% | -43.3% | -156.5% | -117.0% |
| ROIC | -8.2% | -8.2% | -35.8% | -398.8% | -197.6% | -2152.6% | -2956.4% | -782.6% | -85.9% | — | -200.2% |
| ROCE | -9.9% | -9.9% | -61.3% | -449.0% | -71.1% | -128.8% | -426.9% | -2326.5% | -82.4% | — | -152.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | — | — | 82.52 | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.25 | — | — | 44.33 | — | — | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -9.11 | -9.11 | -4.01 | -18.48 | -0.01 | -6.80 | -2.02 | -5.67 | -5.51 | -12.54 | — |
Net cash position: cash ($32M) exceeds total debt ($8M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.19 | 2.19 | 0.13 | 0.49 | 0.47 | 0.93 | 0.54 | 0.07 | 0.16 | 0.08 | 0.54 |
| Quick Ratio | 2.19 | 2.19 | 0.12 | 0.49 | 0.45 | 0.93 | 0.53 | 0.06 | 0.16 | 0.06 | 0.51 |
| Cash Ratio | 1.18 | 1.18 | 0.01 | 0.03 | 0.40 | 0.70 | 0.51 | 0.00 | 0.09 | 0.01 | 0.50 |
| Asset Turnover | — | — | 0.00 | 0.20 | 0.71 | 0.18 | 0.03 | 0.69 | 0.76 | 1.14 | 1.52 |
| Inventory Turnover | — | — | 2.67 | 92.18 | 57.03 | — | 33.93 | 58.78 | 171.96 | 34.66 | 16.32 |
| Days Sales Outstanding | — | — | 1118.06 | 20.44 | 6.11 | 149.46 | 93.99 | 39.65 | 19.20 | 33.32 | 5.48 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 1.7% | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 32.6% | 25.4% | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 5.7% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 1.7% | 0.0% | 0.1% | 5.7% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $87M | $77M | $75M | $66M | $55M | $29M | $24M | $4M | $792391 | $836628 |
Commercialization of REE technology
According to recent market data, AREC trades at a P/B of 1.95, a valuation that appears disconnected from the company's negative revenue growth and the absence of forward-looking earnings, suggesting that investors are pricing in speculative future technology potential rather than current fundamental performance.
The lack of meaningful P/E or EV/EBITDA multiples reflects the company's transition into a pre-revenue entity, rendering traditional valuation metrics largely inapplicable. Investors should monitor whether the current premium over book value is supported by the tangible value of its infrastructure or if it represents an over-optimistic assessment of its rare earth element separation patents.
As reported in financial statements, the company's ROIC has remained consistently negative or negligible, with the most recent 2025Q4 figure of 3.8% appearing as an outlier likely driven by non-operating accounting adjustments rather than a genuine improvement in the underlying efficiency of invested capital.
The persistent inability to generate positive returns on invested capital highlights the structural difficulty of maintaining idled Appalachian mining assets while simultaneously funding a nascent technology pivot. This trend suggests that capital is currently being consumed rather than compounded, warranting caution regarding the long-term viability of the current business model.
Based on reported figures, the company's cash conversion cycle has exhibited extreme volatility, with recent periods showing erratic DSO and DPO metrics that reflect the total cessation of core mining operations and the resulting breakdown in standard working capital management processes.
The extreme fluctuations in working capital efficiency suggest that the company is struggling to manage its short-term operational assets and liabilities in the absence of steady production revenue. Investors should interpret these metrics as a sign of operational instability rather than a reflection of standard supply chain or customer leverage.
According to the latest quarterly data, the current ratio improved to 2.19 in 2025Q4, yet this liquidity position appears precarious given the company's ongoing cash burn and its reliance on external capital to fund the development of its critical minerals processing infrastructure.
While the current ratio suggests a temporary improvement in liquidity, the lack of recurring revenue means that the company remains highly sensitive to capital market conditions. Any delay in the commercialization of its REE technology could rapidly deplete these reserves, potentially forcing further dilutive financing to maintain operations.
The most commonly misapplied metric for AREC is the EV/EBITDA multiple, which obscures the company's current status as a pre-revenue technology developer by attempting to force a traditional mining valuation framework onto a business that has effectively suspended its primary revenue-generating operations.
Using EBITDA to evaluate this firm is misleading because the company's cost structure is dominated by non-recurring idling costs and speculative R&D rather than operational mining output. Analysts should instead focus on cash burn rates and the progress of technological milestones, as these are the true drivers of value in the current pivot.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying AREC stock.
American Resources Corporation's current P/E ratio is 3.1x. The historical average is 3.9x.
American Resources Corporation's return on equity (ROE) is 982.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -100.1%.
Based on historical data, American Resources Corporation is trading at a P/E of 3.1x. Compare with industry peers and growth rates for a complete picture.