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Aemetis (AMTX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Aemetis (AMTX) Q3 2026 earnings results →
Q3 2026 Revenue up 49% year over year to $88.2M · 6¢ of every $1 of revenue kept as net profit · operating margin 23.7%
Aemetis made $88.2M in Q3 2026 (+49% Y/Y): California Ethanol $53.8M, California Dairy Renewable Natural Gas $25.9M, India Biodiesel Segment $8.4M. Operating margin 23.7%, net earnings $5.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $88.2M in Q3 2026, up 49% year over year and up 41% from the previous quarter. California Ethanol was the largest line at 61% of revenue. California Dairy Renewable Natural Gas added $21.9M year over year (up 549%), 76% of the total change. India Biodiesel Segment declined 42%.
Gross margin was 33.4%. Operating profit was $20.9M, a 23.7% margin (up 38.0 points year over year). Net earnings were $5.2M. The effective tax rate was 0.0%.
Operating cash flow was $22.0M (up 616% year over year), 421% of net earnings. Non-cash charges added back $2.6M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $13.0M. Capital expenditures of $20.2M left free cash flow of $1.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $88.2M | +49% | 23.7% | $5.2M | $22.0M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $62.7M | +20% | 9.2% | −$9.4M | −$1.9M |
| Q1 2026 | 10-Q | May 7, 2026 | $54.6M | +27% | -11.6% | −$21.7M | −$10.6M |
| Q4 2025 | 10-K | Mar 16, 2026 | $43.3M | -8% | -5.7% | −$5.3M | $5.8M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $59.2M | -27% | -14.4% | −$23.7M | $3.1M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $52.2M | -22% | -20.4% | −$23.4M | −$5.7M |
| Q1 2025 | 10-Q | May 8, 2025 | $42.9M | -41% | -36.3% | −$24.5M | $160K |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Aemetis
Founded in 2006 and headquartered in Cupertino, California, Aemetis, Inc. (collectively with its subsidiaries on a consolidated basis referred to herein as “Aemetis,” the “Company,” “we,” “our” or “us”) is an international renewable natural gas and renewable fuels company focused on the operation, acquisition, development, and commercialization of innovative technologies to produce low and negative carbon intensity renewable fuels that lower fuel costs and reduce emissions. We do this by building a local circular bioeconomy using agricultural products and wastes to produce low carbon, advanced renewable fuels that reduce greenhouse gas ("GHG") emissions and improve air quality. Our current operations include:
In its own words, from its 10-K, filed Mar 16, 2026.
Aemetis against its Industrial Organic Chemicals peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +49% against the peers' median +5%. Operating margin: 23.7% against the peers' median 18.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AMTX Aemetis | Q3 2026 | $88.2M | +49% | 23.7% |
| LYB LyondellBasell Industries N.V. | Q3 2026 | $8.5B | +10% | 12.6% |
| WLK Westlake | Q3 2026 | $3.0B | +5% | 1.4% |
| IFF International Flavors & Fragrances | Q3 2026 | $1.9B | +4% | 8.2% |
| Union Carbide | Q3 2026 | $1.5B | +38% | 29.6% |
| NEU Newmarket | Q3 2026 | $717M | +4% | 20.0% |
| GPRE Green Plains | Q3 2026 | $496M | -2% | 18.7% |
| SXT Sensient Technologies | Q3 2026 | $456M | +11% | 15.9% |
| WLKP Westlake Chemical Partners LP | Q3 2026 | $314M | +2% | 30.4% |
Source: Aemetis 10-Q on SEC EDGAR · CIK 738214 · Industrial Organic Chemicals
Guidance and outlook
13F: who owns AMTX and who is buying
More on AMTX
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results