Atlas Energy Solutions Inc. (AESI) 10-Year Financial Performance & Capital Metrics

AESI • • Industrial / General

EnergyOilfield ServicesPressure Pumping & Hydraulic FracturingProppant & Logistics

AboutAtlas Energy Solutions Inc. provides proppant and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. The company was founded in 2017 and is based in Austin, Texas.Show more

Revenue $1.06B +72.0%
EBITDA $228M -25.5%
Net Income $60M -62.5%
EPS (Diluted) 0.55 -47.6%
Gross Margin 21.97% -57.0%
EBITDA Margin 21.63% -56.7%
Operating Margin 10.78% -75.0%
Net Margin 5.68% -78.2%
ROE 6.3% -72.9%
ROIC 7.33% -74.0%
Debt/Equity 0.51 +149.3%
Interest Coverage 2.95 -91.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 26.9%
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 1.2x book value

✗Weaknesses

✗Negative free cash flow
✗Dividend payout exceeds 100% of earnings
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y82.96%

TTM20.68%

Profit (Net Income) CAGR

10Y-

5Y-

3Y141.46%

TTM-116.8%

EPS CAGR

10Y-

5Y-

3Y134.59%

TTM-112.6%

ROCE

10Y Avg17.19%

5Y Avg17.19%

3Y Avg25.54%

Latest7.86%

Peer Comparison

Proppant & Logistics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SEISolaris Energy Infrastructure, Inc.	2.7B	55.40	110.80	6.88%	5.05%	2.89%		0.49
SNDSmart Sand, Inc.	150.11M	3.78	49.35	5.2%	1.16%	1.63%	7.23%	0.15
AESIAtlas Energy Solutions Inc.	1.36B	10.93	19.87	71.99%	-1.22%	-1.12%		0.51

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	111.77M	172.4M	482.72M	613.96M	1.06B
Revenue Growth %	-	0.54%	1.8%	0.27%	0.72%
Cost of Goods Sold+	94M	108.34M	226.42M	300.19M	823.94M
COGS % of Revenue	0.84%	0.63%	0.47%	0.49%	0.78%
Gross Profit+	17.77M	64.07M	256.31M	313.77M	232.01M
Gross Margin %	0.16%	0.37%	0.53%	0.51%	0.22%
Gross Profit Growth %	-	2.61%	3%	0.22%	-0.26%
Operating Expenses+	18.99M	17.07M	24.32M	48.64M	118.14M
OpEx % of Revenue	0.17%	0.1%	0.05%	0.08%	0.11%
Selling, General & Admin	17.74M	17.07M	24.32M	48.64M	106.25M
SG&A % of Revenue	0.16%	0.1%	0.05%	0.08%	0.1%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	1.25M	0	0	0	11.89M
Operating Income+	-1.23M	47M	231.99M	265.13M	113.88M
Operating Margin %	-0.01%	0.27%	0.48%	0.43%	0.11%
Operating Income Growth %	-	39.33%	3.94%	0.14%	-0.57%
EBITDA+	20.35M	71.6M	260.61M	306.76M	228.4M
EBITDA Margin %	0.18%	0.42%	0.54%	0.5%	0.22%
EBITDA Growth %	-	2.52%	2.64%	0.18%	-0.26%
D&A (Non-Cash Add-back)	21.58M	24.6M	28.62M	41.63M	114.52M
EBIT	-1.25M	47.29M	234.62M	265.56M	114.43M
Net Interest Income+	-32.82M	-42.2M	-15.76M	-7.69M	-38.65M
Interest Income	0	0	0	0	0
Interest Expense	32.82M	42.2M	15.76M	7.69M	38.65M
Other Income/Expense	-32.84M	-41.91M	-13.13M	-7.26M	-38.1M
Pretax Income+	-34.07M	5.09M	218.86M	257.87M	75.78M
Pretax Margin %	-0.3%	0.03%	0.45%	0.42%	0.07%
Income Tax+	372K	831K	1.86M	31.38M	15.84M
Effective Tax Rate %	1.01%	0.84%	0.99%	0.62%	0.79%
Net Income+	-34.44M	4.26M	217.01M	159.99M	59.94M
Net Margin %	-0.31%	0.02%	0.45%	0.26%	0.06%
Net Income Growth %	-	1.12%	49.96%	-0.26%	-0.63%
Net Income (Continuing)	-34.44M	4.26M	217.01M	226.49M	59.94M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	-0.08	0.04	2.17	1.05	0.55
EPS Growth %	-	1.55%	49.94%	-0.52%	-0.48%
EPS (Basic)	-0.08	0.04	2.17	1.05	0.55
Diluted Shares Outstanding	443.87M	100M	100M	100.03M	109.18M
Basic Shares Outstanding	443.88M	100M	100M	100.03M	108.23M
Dividend Payout Ratio	-	2.35%	0.21%	0.48%	1.62%

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	58.64M	84.27M	178.73M	318.69M	289.42M
Cash & Short-Term Investments	36.07M	40.4M	82.01M	210.17M	71.7M
Cash Only	36.07M	40.4M	82.01M	210.17M	71.7M
Short-Term Investments	0	0	0	0	0
Accounts Receivable	11.6M	29.42M	74.39M	71.17M	165.97M
Days Sales Outstanding	37.89	62.28	56.25	42.31	57.37
Inventory	9.42M	10.41M	16.41M	21.86M	40.55M
Days Inventory Outstanding	36.59	35.06	26.46	26.58	17.96
Other Current Assets	1.54M	1.4M	718K	85K	397K
Total Non-Current Assets+	463.1M	459.58M	572.27M	943M	1.68B
Property, Plant & Equipment	461.09M	458.32M	564.75M	938.81M	1.5B
Fixed Asset Turnover	0.24x	0.38x	0.85x	0.65x	0.70x
Goodwill	0	0	0	0	69M
Intangible Assets	100K	200K	0	1.77M	105.87M
Long-Term Investments	0	0	0	0	0
Other Non-Current Assets	1.91M	1.06M	7.52M	2.42M	3.46M
Total Assets+	521.74M	543.85M	751M	1.26B	1.97B
Asset Turnover	0.21x	0.32x	0.64x	0.49x	0.54x
Asset Growth %	-	0.04%	0.38%	0.68%	0.56%
Total Current Liabilities+	46.07M	40.64M	88.67M	92.59M	243.06M
Accounts Payable	5.48M	12.18M	31.64M	60.88M	119.02M
Days Payables Outstanding	21.29	41.04	51.01	74.03	52.72
Short-Term Debt	35.17M	15.56M	20.59M	0	43.74M
Deferred Revenue (Current)	0	1000K	0	0	1000K
Other Current Liabilities	1.26M	1.91M	7.14M	5.94M	10.38M
Current Ratio	1.27x	2.07x	2.02x	3.44x	1.19x
Quick Ratio	1.07x	1.82x	1.83x	3.21x	1.02x
Cash Conversion Cycle	53.19	56.3	31.69	-5.14	22.61
Total Non-Current Liabilities+	143.98M	164.51M	150.97M	301.27M	693.03M
Long-Term Debt	139.26M	159.71M	126.59M	172.82M	466.99M
Capital Lease Obligations	454K	308K	0	3.76M	9.94M
Deferred Tax Liabilities	1.55M	1.91M	1.91M	121.53M	206.87M
Other Non-Current Liabilities	2.27M	2.28M	22.47M	3.16M	9.23M
Total Liabilities	190.04M	205.15M	239.64M	393.86M	936.1M
Total Debt+	174.88M	175.58M	147.17M	177.99M	530.1M
Net Debt	138.81M	135.18M	65.16M	-32.19M	458.39M
Debt / Equity	0.53x	0.52x	0.29x	0.21x	0.51x
Debt / EBITDA	8.59x	2.45x	0.56x	0.58x	2.32x
Net Debt / EBITDA	6.82x	1.89x	0.25x	-0.10x	2.01x
Interest Coverage	-0.04x	1.11x	14.72x	34.48x	2.95x
Total Equity+	331.7M	338.7M	511.36M	867.82M	1.04B
Equity Growth %	-	0.02%	0.51%	0.7%	0.19%
Book Value per Share	0.75	3.39	5.11	8.68	9.49
Total Shareholders' Equity	331.7M	338.7M	511.36M	867.82M	1.04B
Common Stock	394.52M	407.14M	407.14M	1M	1.1M
Retained Earnings	-81.52M	-87.26M	84.72M	-41.26M	0
Treasury Stock	0	0	0	0	0
Accumulated OCI	18.69M	18.82M	19.5M	0	0
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	12.49M	21.36M	206.01M	299.03M	256.46M
Operating CF Margin %	0.11%	0.12%	0.43%	0.49%	0.24%
Operating CF Growth %	-	0.71%	8.65%	0.45%	-0.14%
Net Income	-34.44M	4.26M	217.01M	105.43M	59.94M
Depreciation & Amortization	21.69M	24.6M	28.62M	41.6M	114.52M
Stock-Based Compensation	2.54M	129K	678K	7.41M	22.38M
Deferred Taxes	372K	360K	-2K	29.2M	15M
Other Non-Cash Items	21.95M	627K	1.49M	122.34M	22.09M
Working Capital Changes	369K	-8.62M	-41.77M	-6.95M	22.52M
Change in Receivables	13.52M	-17.81M	-44.98M	3.04M	-13.11M
Change in Inventory	2.66M	-981K	-6.65M	-5.47M	-11.36M
Change in Payables	-11.59M	6.22M	7.42M	5.32M	22.8M
Cash from Investing+	-9.53M	-19.37M	-89.59M	-365.49M	-512.71M
Capital Expenditures	-9.53M	-19.37M	-89.59M	-365.49M	-373.98M
CapEx % of Revenue	0.09%	0.11%	0.19%	0.6%	0.35%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	0	14.7M
Cash from Financing+	11.83M	2.34M	-74.81M	194.62M	117.78M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	-3K	-10M	-45.02M	-77.16M	-96.89M
Share Repurchases	-	-	-	-	-
Other Financing	0	-5.17M	0	-2.65M	-1.19M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	2.95M	1.99M	116.42M	-66.46M	-117.52M
FCF Margin %	0.03%	0.01%	0.24%	-0.11%	-0.11%
FCF Growth %	-	-0.33%	57.65%	-1.57%	-0.77%
FCF per Share	0.01	0.02	1.16	-0.66	-1.08
FCF Conversion (FCF/Net Income)	-0.36x	5.02x	0.95x	1.87x	4.28x
Interest Paid	0	19.16M	14.9M	15.21M	38.47M
Taxes Paid	0	14K	468K	11.4M	2.27M

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-10.38%	1.27%	51.06%	23.2%	6.3%
Return on Invested Capital (ROIC)	-0.2%	7.46%	33.13%	28.16%	7.33%
Gross Margin	15.9%	37.16%	53.1%	51.11%	21.97%
Net Margin	-30.81%	2.47%	44.95%	26.06%	5.68%
Debt / Equity	0.53x	0.52x	0.29x	0.21x	0.51x
Interest Coverage	-0.04x	1.11x	14.72x	34.48x	2.95x
FCF Conversion	-0.36x	5.02x	0.95x	1.87x	4.28x
Revenue Growth	-	54.25%	180%	27.19%	71.99%

Revenue by Segment

	2023	2024
Service	145.84M	540.52M
Service Growth	-	270.62%
Product	468.12M	515.43M
Product Growth	-	10.11%
Shortfall Revenues	-	13.1M
Shortfall Revenues Growth	-	-

Frequently Asked Questions

Valuation & Price

Atlas Energy Solutions Inc. (AESI) has a price-to-earnings (P/E) ratio of 19.9x. This is roughly in line with market averages.

Growth & Financials

Atlas Energy Solutions Inc. (AESI) reported $1.12B in revenue for fiscal year 2024. This represents a 900% increase from $111.8M in 2020.

Atlas Energy Solutions Inc. (AESI) grew revenue by 72.0% over the past year. This is strong growth.

Atlas Energy Solutions Inc. (AESI) reported a net loss of $13.7M for fiscal year 2024.

Dividend & Returns

Yes, Atlas Energy Solutions Inc. (AESI) pays a dividend with a yield of 8.12%. This makes it attractive for income-focused investors.

Atlas Energy Solutions Inc. (AESI) has a return on equity (ROE) of 6.3%. This is below average, suggesting room for improvement.

Atlas Energy Solutions Inc. (AESI) had negative free cash flow of $18.4M in fiscal year 2024, likely due to heavy capital investments.

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