American Resources Corporation

AREC

Coal · Energy

Price

$1.57

-0.02 (-1.26%)

Market Cap

$167.9M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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)

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.

Winston Score History

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

-78.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+56.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$107,507/ year

Research and development spending

Insider Activity

19.9%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~6 months

$2M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

American Resources Corporation 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

Gross Margin

7.1%

Thin — 7.1% gross margin

Operating Margin

-8590.8%

Losing money on operations — -8590.8%

ROCE

-3.9%

Weak — -3.9% return on capital

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

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Growth

Sales YoY

-63.7%

Shrinking sales (-63.7% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-17791.1%

Burning cash (-17791.1%)

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

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Stability

Debt / Equity

N/A

—

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

2.9x

Attractive valuation — P/E 2.9

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

P/E vs Forward

+1.8

GROWING

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

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Dividends

Not applicable for this business.

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