The company's liquidity buffer has faced rapid depletion, with cash balances falling from $210.2 million in 2023Q4 to $39.8 million by 2026Q1, alongside a negative retained earnings balance of $97.6 million.
| Total Current Assets | 335.9M | 307.51M | 289.42M | 318.69M | 178.73M | 84.27M | 58.64M |
| Cash & Short-Term Investments | 39.78M | 40.63M | 71.7M | 210.17M | 82.01M | 40.4M | 36.07M |
| Cash Only | 39.78M | 40.63M | 71.7M | 210.17M | 82.01M | 40.4M | 36.07M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 208.38M | 180.78M | 165.97M | 71.17M | 74.39M | 29.42M | 11.6M |
| Days Sales Outstanding | 65.2 | 60.24 | 57.37 | 42.31 | 56.25 | 62.28 | 37.89 |
| Inventory | 87.74M | 86.1M | 40.55M | 21.86M | 16.41M | 10.41M | 9.42M |
| Days Inventory Outstanding | 28.08 | 33.27 | 17.96 | 26.58 | 26.46 | 35.06 | 36.59 |
| Other Current Assets | 0 | 0 | 397K | 85K | 718K | 1.4M | 1.54M |
| Total Non-Current Assets | 1.96B | 1.92B | 1.68B | 943M | 572.27M | 459.58M | 463.1M |
| Property, Plant & Equipment | 1.63B | 1.58B | 1.5B | 938.81M | 564.75M | 458.32M | 461.09M |
| Fixed Asset Turnover | 0.67x | 0.69x | 0.70x | 0.65x | 0.85x | 0.38x | 0.24x |
| Goodwill | 152.9M | 152.9M | 69M | 0 | 0 | 0 | 0 |
| Intangible Assets | 176.28M | 182.24M | 105.87M | 1.77M | 0 | 200K | 100K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.1M | 1.18M | 3.46M | 2.42M | 7.52M | 1.06M | 1.91M |
| Total Assets | 2.3B | 2.23B | 1.97B | 1.26B | 751M | 543.85M | 521.74M |
| Asset Turnover | 0.47x | 0.49x | 0.54x | 0.49x | 0.64x | 0.32x | 0.21x |
| Asset Growth % | 39.7% | 12.97% | 56.35% | 68% | 38.09% | 4.24% | - |
| Total Current Liabilities | 286.12M | 211.06M | 243.06M | 92.59M | 88.67M | 40.64M | 46.07M |
| Accounts Payable | 101.04M | 69.2M | 119.02M | 60.88M | 31.64M | 12.18M | 5.48M |
| Days Payables Outstanding | 33.07 | 26.74 | 52.72 | 74.03 | 51.01 | 41.04 | 21.29 |
| Short-Term Debt | 65.63M | 40.68M | 43.74M | 0 | 20.59M | 15.56M | 35.17M |
| Deferred Revenue (Current) | 7.7M | 0 | 7.75M | 0 | 0 | 2M | 0 |
| Other Current Liabilities | 119.45M | 101.18M | 10.38M | 5.94M | 7.14M | 1.91M | 1.26M |
| Current Ratio | 1.17x | 1.46x | 1.19x | 3.44x | 2.02x | 2.07x | 1.27x |
| Quick Ratio | 0.87x | 1.05x | 1.02x | 3.21x | 1.83x | 1.82x | 1.07x |
| Cash Conversion Cycle | 60.21 | 66.77 | 22.61 | -5.14 | 31.69 | 56.3 | 53.19 |
| Total Non-Current Liabilities | 843.59M | 808.44M | 693.03M | 301.27M | 150.97M | 164.51M | 143.98M |
| Long-Term Debt | 557.04M | 538.24M | 466.99M | 172.82M | 126.59M | 159.71M | 139.26M |
| Capital Lease Obligations | 40.12M | 0 | 9.94M | 3.76M | 0 | 308K | 454K |
| Deferred Tax Liabilities | 907.37M | 221.62M | 206.87M | 121.53M | 1.91M | 1.91M | 1.55M |
| Other Non-Current Liabilities | 70.05M | 48.58M | 9.23M | 3.16M | 22.47M | 2.28M | 2.27M |
| Total Liabilities | 1.13B | 1.02B | 936.1M | 393.86M | 239.64M | 205.15M | 190.04M |
| Total Debt | 65.63M | 578.92M | 530.1M | 177.99M | 147.17M | 175.58M | 174.88M |
| Net Debt | 25.85M | 538.29M | 458.39M | -32.19M | 65.16M | 135.18M | 138.81M |
| Debt / Equity | 0.06x | 0.48x | 0.51x | 0.21x | 0.29x | 0.52x | 0.53x |
| Debt / EBITDA | 0.49x | 3.36x | 2.32x | 0.58x | 0.56x | 2.45x | 8.59x |
| Net Debt / EBITDA | 0.19x | 3.12x | 2.01x | -0.10x | 0.25x | 1.89x | 6.82x |
| Interest Coverage | -1.00x | -0.18x | 2.96x | 34.54x | 14.89x | 1.12x | -0.04x |
| Total Equity | 1.17B | 1.21B | 1.04B | 867.82M | 511.36M | 338.7M | 331.7M |
| Equity Growth % | 43.12% | 16.63% | 19.44% | 69.71% | 50.98% | 2.11% | - |
| Book Value per Share | 9.38 | 9.87 | 9.49 | 8.68 | 5.11 | 3.39 | 0.75 |
| Total Shareholders' Equity | 1.17B | 1.21B | 1.04B | 867.82M | 511.36M | 338.7M | 331.7M |
| Common Stock | 1.25M | 1.24M | 1.1M | 1M | 407.14M | 407.14M | 394.52M |
| Retained Earnings | -97.57M | -50.3M | 0 | -41.26M | 84.72M | -87.26M | -81.52M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 19.5M | 18.82M | 18.69M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Permian Basin volume concentration
According to the latest quarterly filings, Atlas Energy Solutions has seen its total assets decline from a peak of $2.3 billion in 2026Q1 to $2.2 billion, signaling that the company's aggressive infrastructure expansion phase is now facing significant headwinds in maintaining its asset base value.
The contraction in total assets suggests that the company is struggling to sustain the growth trajectory established in previous periods. Investors should monitor whether this decline reflects a strategic pivot toward asset optimization or an inability to replace the value of aging mining and logistics infrastructure.
As reported in recent financial statements, the company's cash position has plummeted from $210.2 million in 2023Q4 to just $39.8 million by 2026Q1, representing a significant reduction in the liquidity buffer available to navigate the current period of negative operating margins and high capital intensity.
The current ratio of 1.17 indicates a tightening liquidity profile that leaves little room for operational errors or unexpected market volatility in the Permian Basin. This rapid cash burn warrants further investigation into the company's ability to fund ongoing maintenance requirements without resorting to dilutive financing.
Based on the provided balance sheet data, net property, plant, and equipment accounts for approximately 70% of total assets at $1.6 billion, highlighting a business model that is heavily reliant on fixed-cost logistics infrastructure rather than liquid or diversified asset holdings.
This high concentration in PPE suggests that the company's valuation is intrinsically tied to the utilization rates of its Permian-based conveyor systems. If throughput volumes fail to meet expectations, the lack of asset flexibility may lead to significant impairment risks that could further erode the equity base.
Analysis of the equity section reveals that retained earnings have deteriorated to a negative $97.6 million as of 2026Q1, a stark reversal from the positive territory observed in earlier periods, which indicates that cumulative losses are now actively eroding the company's shareholder equity foundation.
The shift into negative retained earnings suggests that the company's capital allocation strategy has not yet generated sufficient returns to offset its operational costs. This trend appears to be a primary driver of the company's strained balance sheet signal and warrants close scrutiny by long-term investors.
Quick answers to the most common questions about buying AESI stock.
As of 2025, Atlas Energy Solutions Inc. (AESI) had total assets of $2.23B including $307.5M in current assets.
Atlas Energy Solutions Inc. (AESI) carries total debt of $578.9M, offset by $40.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Atlas Energy Solutions Inc. (AESI) has total shareholders' equity (book value) of $1.21B ($9.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Atlas Energy Solutions Inc. (AESI) reported a current ratio of 1.46x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.