REX American Resources Corporation (REX) 10-Year Financial Performance & Capital Metrics

REX • • Industrial / General

Basic MaterialsSpecialty ChemicalsRenewable & Bio-based ChemicalsBiofuels & Renewable Energy Chemicals

AboutREX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States. The company also offers corn, distillers grains, non-food grade corn oil, gasoline, and natural gas. In addition, the company provides dry distillers grains with solubles, which is used as a protein in animal feed. The company was formerly known as REX Stores Corporation and changed its name to REX American Resources Corporation in 2010. REX American Resources Corporation was founded in 1980 and is headquartered in Dayton, Ohio.Show more

Revenue $642M -22.9%
EBITDA $86M -6.3%
Net Income $58M -4.5%
EPS (Diluted) 1.65 -4.9%
Gross Margin 14.24% +20.8%
EBITDA Margin 13.39% +21.5%
Operating Margin 10.01% +21.2%
Net Margin 9.05% +23.8%
ROE 9.45% -14.8%
ROIC 11.41% -8.2%
Debt/Equity 0.03 +50.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 50.9%

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.16%

5Y8.98%

3Y-6.05%

TTM-3.14%

Profit (Net Income) CAGR

10Y-3.98%

5Y50.93%

3Y3.57%

TTM-25.63%

EPS CAGR

10Y-0.84%

5Y53.28%

3Y4.16%

TTM-21.47%

ROCE

10Y Avg6.89%

5Y Avg8.48%

3Y Avg9.14%

Latest10.15%

Peer Comparison

Biofuels & Renewable Energy Chemicals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
REXREX American Resources Corporation	1.11B	33.74	20.45	-22.91%	7.73%	7.67%	0.03
ALTOAlto Ingredients, Inc.	203.41M	2.63	-3.21	-21.07%	-5.44%	-22.56%	0.51
LOOPLoop Industries, Inc.	54.62M	1.13	-3.57	70.17%	-24.34%	-207.55%	8.41
GEVOGevo, Inc.	489.46M	2.02	-5.94	-1.66%	-37.33%	-9.51%	0.14
GPREGreen Plains Inc.	810.78M	11.61	-9	-25.39%	-8.37%	-24.28%	0.74
ADURAduro Clean Technologies Inc.	465.57M	13.99	-31.09	-31.5%	-39.38%	-80.73%	0.02

Profit & Loss

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	436.49M	453.8M	452.59M	486.67M	418.03M	372.66M	774.8M	855M	833.38M	642.49M
Revenue Growth %	-0.24%	0.04%	-0%	0.08%	-0.14%	-0.11%	1.08%	0.1%	-0.03%	-0.23%
Cost of Goods Sold+	385.65M	382.76M	408.43M	456.46M	405.55M	358.99M	677.24M	806.4M	735.17M	551.01M
COGS % of Revenue	0.88%	0.84%	0.9%	0.94%	0.97%	0.96%	0.87%	0.94%	0.88%	0.86%
Gross Profit+	50.83M	71.04M	44.16M	30.21M	12.48M	13.68M	97.56M	48.6M	98.22M	91.48M
Gross Margin %	0.12%	0.16%	0.1%	0.06%	0.03%	0.04%	0.13%	0.06%	0.12%	0.14%
Gross Profit Growth %	-0.64%	0.4%	-0.38%	-0.32%	-0.59%	0.1%	6.13%	-0.5%	1.02%	-0.07%
Operating Expenses+	19.81M	21.39M	24.06M	20.55M	19.26M	17.66M	28.48M	22.83M	29.38M	27.15M
OpEx % of Revenue	0.05%	0.05%	0.05%	0.04%	0.05%	0.05%	0.04%	0.03%	0.04%	0.04%
Selling, General & Admin	19.81M	21.39M	24.06M	20.55M	19.53M	17.64M	28.48M	22.83M	29.38M	27.15M
SG&A % of Revenue	0.05%	0.05%	0.05%	0.04%	0.05%	0.05%	0.04%	0.03%	0.04%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	31.02M	49.65M	20.79M	9.66M	870K	1.89M	69.08M	25.77M	68.84M	64.33M
Operating Margin %	0.07%	0.11%	0.05%	0.02%	0%	0.01%	0.09%	0.03%	0.08%	0.1%
Operating Income Growth %	-0.75%	0.6%	-0.58%	-0.54%	-0.91%	1.18%	35.48%	-0.63%	1.67%	-0.07%
EBITDA+	49.66M	69.17M	42.25M	34.49M	27.39M	25.37M	92.67M	49.08M	91.88M	86.04M
EBITDA Margin %	0.11%	0.15%	0.09%	0.07%	0.07%	0.07%	0.12%	0.06%	0.11%	0.13%
EBITDA Growth %	-0.64%	0.39%	-0.39%	-0.18%	-0.21%	-0.07%	2.65%	-0.47%	0.87%	-0.06%
D&A (Non-Cash Add-back)	18.64M	19.52M	21.46M	24.83M	26.52M	23.47M	23.59M	23.3M	23.04M	21.71M
EBIT	31.15M	49.65M	20.79M	9.66M	870K	1.89M	69.08M	25.77M	68.84M	64.33M
Net Interest Income+	625K	434K	1.56M	3.39M	4.21M	1.82M	130K	12.96M	15.72M	19.16M
Interest Income	625K	434K	1.56M	3.39M	4.21M	1.82M	130K	12.96M	15.72M	19.16M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	20.5M	7.26M	4.6M	4.92M	-2.04M	2.32M	6.75M	21.7M	29.64M	28.54M
Pretax Income+	51.52M	56.91M	25.39M	14.59M	-1.17M	4.21M	75.84M	47.48M	98.48M	92.87M
Pretax Margin %	0.12%	0.13%	0.06%	0.03%	-0%	0.01%	0.1%	0.06%	0.12%	0.14%
Income Tax+	14.11M	17.39M	-19.52M	-22.92M	-8.6M	-546K	19.03M	9.54M	22.56M	21.39M
Effective Tax Rate %	0.61%	0.57%	1.56%	2.17%	-6.35%	0.71%	0.69%	0.58%	0.62%	0.63%
Net Income+	31.44M	32.33M	39.71M	31.64M	7.43M	3M	52.36M	27.7M	60.94M	58.17M
Net Margin %	0.07%	0.07%	0.09%	0.07%	0.02%	0.01%	0.07%	0.03%	0.07%	0.09%
Net Income Growth %	-0.64%	0.03%	0.23%	-0.2%	-0.77%	-0.6%	16.45%	-0.47%	1.2%	-0.05%
Net Income (Continuing)	37.41M	39.52M	44.91M	37.51M	8.46M	4.76M	56.81M	37.94M	75.92M	71.49M
Discontinued Operations	0	0	0	0	3.52M	1.12M	4.79M	0	0	0
Minority Interest	44.5M	47.84M	50.43M	52.33M	52.6M	52.4M	56.77M	63.01M	73.68M	83.27M
EPS (Diluted)+	0.72	0.82	1.01	0.82	0.20	0.15	1.46	0.79	1.74	1.65
EPS Growth %	-0.6%	0.15%	0.23%	-0.18%	-0.76%	-0.23%	8.73%	-0.46%	1.21%	-0.05%
EPS (Basic)	0.72	0.82	1.01	0.82	0.20	0.08	1.46	0.79	1.75	1.65
Diluted Shares Outstanding	43.84M	39.52M	39.58M	38.64M	37.91M	37M	35.89M	35.28M	35.15M	35.27M
Basic Shares Outstanding	43.78M	39.52M	39.58M	38.64M	37.91M	37M	35.89M	35.28M	34.96M	35.27M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	179.36M	226.52M	239.03M	250.62M	271.13M	258.75M	345.17M	372.64M	452.1M	435.82M
Cash & Short-Term Investments	135.76M	188.58M	190.99M	203.51M	205.73M	182.35M	255.72M	282.68M	378.66M	359.07M
Cash Only	135.76M	188.58M	190.99M	188.53M	179.66M	146.16M	229.85M	71.35M	223.4M	196.25M
Short-Term Investments	0	0	0	14.97M	26.07M	36.19M	25.88M	211.33M	155.26M	162.82M
Accounts Receivable	18.92M	12.97M	19.52M	19.07M	19M	25.73M	32.5M	28.12M	28.91M	27.96M
Days Sales Outstanding	15.82	10.43	15.75	14.3	16.59	25.2	15.31	12.01	12.66	15.88
Inventory	17.18M	17.06M	20.75M	18.48M	35.63M	37.43M	42.23M	48.74M	26.98M	31.68M
Days Inventory Outstanding	16.26	16.27	18.55	14.77	32.07	38.05	22.76	22.06	13.4	20.98
Other Current Assets	1.09M	954K	354K	281K	1.11M	13.24M	2.22M	14.83M	17.55M	17.11M
Total Non-Current Assets+	235.32M	227.51M	239.83M	220.77M	229.37M	220.59M	205.19M	206.94M	212.7M	284.19M
Property, Plant & Equipment	189.98M	182.76M	197.83M	182.52M	179.5M	163.54M	148.78M	150.71M	168.63M	231.67M
Fixed Asset Turnover	2.30x	2.48x	2.29x	2.67x	2.33x	2.28x	5.21x	5.67x	4.94x	2.77x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	38.71M	37.83M	34.55M	32.08M	32.46M	29.46M	30.57M	33.05M	34.94M	35.8M
Other Non-Current Assets	6.64M	6.91M	7.45M	333K	342K	3.21M	25.85M	23.18M	1.3M	16.72M
Total Assets+	414.69M	454.02M	478.86M	471.39M	500.5M	479.35M	550.36M	579.58M	664.8M	720.01M
Asset Turnover	1.05x	1.00x	0.95x	1.03x	0.84x	0.78x	1.41x	1.48x	1.25x	0.89x
Asset Growth %	-0.09%	0.09%	0.05%	-0.02%	0.06%	-0.04%	0.15%	0.05%	0.15%	0.08%
Total Current Liabilities+	19.64M	22.52M	21.86M	17.01M	31.6M	30.74M	50.48M	54.6M	66.26M	50.44M
Accounts Payable	10.21M	9.17M	8.15M	7.46M	18.9M	16.57M	32.27M	34.09M	42.07M	28.34M
Days Payables Outstanding	9.67	8.75	7.28	5.97	17.01	16.85	17.39	15.43	20.89	18.77
Short-Term Debt	0	0	0	0	4.93M	4.88M	4.6M	5.18M	4.47M	5.75M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	3.1M	4.23M	8.55M	7.43M	6.54M	8.54M	8.12M	8.85M	10.26M	5.65M
Current Ratio	9.13x	10.06x	10.93x	14.73x	8.58x	8.42x	6.84x	6.83x	6.82x	8.64x
Quick Ratio	8.26x	9.30x	9.98x	13.65x	7.45x	7.20x	6.00x	5.93x	6.42x	8.01x
Cash Conversion Cycle	22.41	17.95	27.01	23.11	31.65	46.41	20.68	18.64	5.17	18.09
Total Non-Current Liabilities+	39.29M	43.23M	25.07M	9.11M	15.3M	11.43M	12.32M	13.99M	10.95M	25.96M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	10.69M	6.39M	6.39M	8.38M	8.38M	15.37M
Deferred Tax Liabilities	38.3M	41.13M	21.71M	4.18M	4.33M	3.71M	3.13M	1.1M	1.6M	3.56M
Other Non-Current Liabilities	987K	2.1M	3.37M	4.93M	275K	1.32M	2.79M	4.51M	970K	7.03M
Total Liabilities	58.93M	65.75M	46.94M	26.12M	46.9M	42.16M	62.8M	68.58M	77.2M	76.41M
Total Debt+	0	0	0	0	15.62M	11.27M	10.99M	13.56M	12.85M	21.11M
Net Debt	-135.76M	-188.58M	-190.99M	-188.53M	-164.03M	-134.89M	-218.86M	-57.79M	-210.55M	-175.14M
Debt / Equity	-	-	-	-	0.03x	0.03x	0.02x	0.03x	0.02x	0.03x
Debt / EBITDA	-	-	-	-	0.57x	0.44x	0.12x	0.28x	0.14x	0.25x
Net Debt / EBITDA	-2.73x	-2.73x	-4.52x	-5.47x	-5.99x	-5.32x	-2.36x	-1.18x	-2.29x	-2.04x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	355.76M	388.27M	431.93M	445.27M	453.61M	437.18M	487.56M	510.99M	587.6M	643.6M
Equity Growth %	-0.09%	0.09%	0.11%	0.03%	0.02%	-0.04%	0.12%	0.05%	0.15%	0.1%
Book Value per Share	8.11	9.82	10.91	11.52	11.97	11.82	13.58	14.49	16.72	18.25
Total Shareholders' Equity	311.26M	340.44M	381.49M	392.94M	401.01M	384.78M	430.79M	447.98M	513.92M	560.34M
Common Stock	299K	299K	299K	299K	299K	299K	299K	299K	299K	299K
Retained Earnings	475.87M	508.21M	547.91M	579.56M	586.99M	589.99M	642.35M	640.83M	701.76M	759.93M
Treasury Stock	-309.75M	-313.84M	-313.64M	-335.19M	-335.07M	-354.61M	-361.19M	-193.72M	-191.91M	-206.36M
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	44.5M	47.84M	50.43M	52.33M	52.6M	52.4M	56.77M	63.01M	73.68M	83.27M

Cash Flow

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	40.19M	69.11M	40.97M	47.93M	10.34M	8.62M	91.71M	54.8M	127.97M	64.19M
Operating CF Margin %	0.09%	0.15%	0.09%	0.1%	0.02%	0.02%	0.12%	0.06%	0.15%	0.1%
Operating CF Growth %	-0.71%	0.72%	-0.41%	0.17%	-0.78%	-0.17%	9.64%	-0.4%	1.34%	-0.5%
Net Income	37.41M	39.52M	44.91M	37.51M	11.64M	1.88M	56.81M	37.94M	60.94M	71.49M
Depreciation & Amortization	18.64M	19.52M	21.46M	24.83M	29.31M	23.47M	23.59M	23.3M	23.04M	21.71M
Stock-Based Compensation	64K	1.31M	1.64M	669K	397K	264K	1.75M	1.93M	6.21M	3.64M
Deferred Taxes	-4.2M	3.04M	-18.61M	-23.36M	-11.07M	-1.11M	12.73M	915K	14.63M	9.8M
Other Non-Cash Items	-8.6M	354K	3.49M	1.5M	-462K	-68K	-7.84M	-5.42M	3.33M	-6.39M
Working Capital Changes	-3.13M	5.36M	-11.93M	6.79M	-19.48M	-15.82M	4.67M	-3.87M	19.83M	-36.06M
Change in Receivables	-496K	1.65M	-1.09M	1.53M	-1.59M	-6.74M	-6.11M	659K	1.98M	1.67M
Change in Inventory	884K	121K	-3.65M	2.28M	-17.16M	-2.25M	-4.8M	-6.52M	21.76M	-4.69M
Change in Payables	387K	36K	-1.71M	339K	11.4M	-2.35M	16M	1.48M	7.87M	-14.72M
Cash from Investing+	32.2M	-7.75M	-35.72M	-24.64M	-14.43M	-20.79M	5.29M	-198.51M	28.4M	-72.86M
Capital Expenditures	-15.49M	-14.21M	-24.02M	-10.78M	-3.78M	-10.41M	-5.13M	-15.58M	-37.66M	-71.32M
CapEx % of Revenue	0.04%	0.03%	0.05%	0.02%	0.01%	0.03%	0.01%	0.02%	0.05%	0.11%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.97M	1.97M	267K	32K	369K	-474K	60K	-314K	-14K	442K
Cash from Financing+	-74.32M	-8.55M	-2.61M	-25.82M	-3.95M	-22.45M	-11.1M	-17.01M	-4.32M	-18.47M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-4.47M	-3.84M	-2.61M	-3.96M	-3.95M	-2.82M	-4.47M	-4M	-4.32M	-3.73M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	24.7M	54.9M	16.95M	37.16M	6.57M	-1.79M	86.58M	39.22M	90.31M	-7.13M
FCF Margin %	0.06%	0.12%	0.04%	0.08%	0.02%	-0%	0.11%	0.05%	0.11%	-0.01%
FCF Growth %	-0.81%	1.22%	-0.69%	1.19%	-0.82%	-1.27%	49.4%	-0.55%	1.3%	-1.08%
FCF per Share	0.56	1.39	0.43	0.96	0.17	-0.05	2.41	1.11	2.57	-0.20
FCF Conversion (FCF/Net Income)	1.28x	2.14x	1.03x	1.51x	1.39x	2.87x	1.75x	1.98x	2.10x	1.10x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.4%	8.69%	9.68%	7.22%	1.65%	0.67%	11.33%	5.55%	11.09%	9.45%
Return on Invested Capital (ROIC)	9.79%	17.75%	7.08%	2.91%	0.24%	0.48%	18.15%	5.36%	12.44%	11.41%
Gross Margin	11.65%	15.65%	9.76%	6.21%	2.99%	3.67%	12.59%	5.68%	11.79%	14.24%
Net Margin	7.2%	7.12%	8.77%	6.5%	1.78%	0.81%	6.76%	3.24%	7.31%	9.05%
Debt / Equity	-	-	-	-	0.03x	0.03x	0.02x	0.03x	0.02x	0.03x
FCF Conversion	1.28x	2.14x	1.03x	1.51x	1.39x	2.87x	1.75x	1.98x	2.10x	1.10x
Revenue Growth	-23.72%	3.97%	-0.27%	7.53%	-14.1%	-10.85%	107.91%	10.35%	-2.53%	-22.91%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Other Member	-	-	-	-	-	231K	309K	329K
Other Member Growth	-	-	-	-	-	-	33.77%	6.47%
EthanolMember	-	-	-	372.66M	613.6M	-	-	-
EthanolMember Growth	-	-	-	-	64.65%	-	-	-
DriedDistillersGrainsMember	-	-	-	71.77M	125.01M	-	-	-
DriedDistillersGrainsMember Growth	-	-	-	-	74.17%	-	-	-
NonFoodGradeCornOilMember	-	-	-	15.07M	38.85M	-	-	-
NonFoodGradeCornOilMember Growth	-	-	-	-	157.88%	-	-	-
ModifiedDistillersGrainsMember	-	-	-	2.63M	9.1M	-	-	-
ModifiedDistillersGrainsMember Growth	-	-	-	-	246.69%	-	-	-
RefinedCoalMember	-	-	-	182K	400K	-	-	-
RefinedCoalMember Growth	-	-	-	-	119.78%	-	-	-
OtherMember	-	-	-	-	349K	-	-	-
OtherMember Growth	-	-	-	-	-	-	-	-
DerivativeFinancialInstrumentLossesMember	-	-	-	-1.17M	-12.11M	-	-	-
DerivativeFinancialInstrumentLossesMember Growth	-	-	-	-	-937.62%	-	-	-
Others	-	102K	136K	174K	-	-	-	-
Others Growth	-	-	33.33%	27.94%	-	-	-	-
Ethanol	452.15M	368.32M	417.7M	-	-	-	-	-
Ethanol Growth	-	-18.54%	13.41%	-	-	-	-	-
Dried Distillers Grains	-	85.42M	71.75M	-	-	-	-	-
Dried Distillers Grains Growth	-	-	-15.99%	-	-	-	-	-
Non Food Grade Corn Oil	-	20.1M	17.14M	-	-	-	-	-
Non Food Grade Corn Oil Growth	-	-	-14.74%	-	-	-	-	-
Modified Distillers Grains	-	11.95M	7.24M	-	-	-	-	-
Modified Distillers Grains Growth	-	-	-39.41%	-	-	-	-	-
Refined Coal	433K	1.2M	334K	-	-	-	-	-
Refined Coal Growth	-	177.14%	-72.17%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

REX American Resources Corporation (REX) has a price-to-earnings (P/E) ratio of 20.4x. This is roughly in line with market averages.

Growth & Financials

REX American Resources Corporation (REX) reported $650.8M in revenue for fiscal year 2024. This represents a 59% increase from $410.0M in 2011.

REX American Resources Corporation (REX) saw revenue decline by 22.9% over the past year.

Yes, REX American Resources Corporation (REX) is profitable, generating $50.3M in net income for fiscal year 2024 (9.1% net margin).

Dividend & Returns

REX American Resources Corporation (REX) has a return on equity (ROE) of 9.4%. This is below average, suggesting room for improvement.

REX American Resources Corporation (REX) generated $17.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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