Origin Materials, Inc. (ORGN) 10-Year Financial Performance & Capital Metrics

ORGN • • Industrial / General

Basic MaterialsChemicalsBio-based & Renewable ChemicalsBiofuels & Renewable Chemicals

AboutMicromidas, Inc., doing business as Origin Materials, produces and commercializes plant-based PET plastic. It develops a platform for turning the carbon found in biomass into useful materials, while capturing carbon in the process. The company serves tire filler, carbon black, agriculture, and activated carbon markets. Micromidas, Inc. has a strategic alliance with Palantir Technologies Inc. The company was incorporated in 2008 and is based in West Sacramento, California with a facility in Sarnia, Canada.Show more

Revenue $31M +8.6%
EBITDA -$74M -43.9%
Net Income -$84M -451.7%
EPS (Diluted) -0.58 -441.2%
Gross Margin 1.34% -92.6%
EBITDA Margin -237.03% -32.5%
Operating Margin -271.28% -42.4%
Net Margin -267.56% -423.8%
ROE -22% -469.5%
ROIC -19.63% -51.3%
Debt/Equity 0.03 +23.8%
Interest Coverage -228.74 +45.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak 3Y average ROE of 2.3%
✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Weak momentum: RS Rating 2 (bottom 2%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-28.47%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM14.29%

EPS CAGR

10Y-

5Y-

3Y-

TTM17.91%

ROCE

10Y Avg0.04%

5Y Avg-4.84%

3Y Avg-13.56%

Latest-20.84%

Peer Comparison

Biofuels & Renewable Chemicals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFFutureFuel Corp.	148.05M	3.38	9.66	-33.92%	-25.17%	-20.45%	6.84%
ORGNOrigin Materials, Inc.	31.35M	0.20	-0.35	8.6%	-275.03%	-23.42%		0.03

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	0	28.8M	31.28M
Revenue Growth %	-	-	-	-	-	0.09%
Cost of Goods Sold+	0	0	0	0	23.59M	30.86M
COGS % of Revenue	-	-	-	-	0.82%	0.99%
Gross Profit+	0	0	0	0	5.21M	418K
Gross Margin %	-	-	-	-	0.18%	0.01%
Gross Profit Growth %	-	-	-	-	-	-0.92%
Operating Expenses+	-11.06M	-11.18M	26.93M	38.95M	60.1M	85.28M
OpEx % of Revenue	-	-	-	-	2.09%	2.73%
Selling, General & Admin	3.71M	6.56M	17.27M	24.09M	35.38M	40.77M
SG&A % of Revenue	-	-	-	-	1.23%	1.3%
Research & Development	6.7M	4.14M	9.12M	14.14M	21.35M	18.55M
R&D % of Revenue	-	-	-	-	0.74%	0.59%
Other Operating Expenses	-21.47M	-21.88M	544K	711K	3.36M	25.96M
Operating Income+	11.06M	11.18M	-26.93M	-38.95M	-54.88M	-84.86M
Operating Margin %	-	-	-	-	-1.91%	-2.71%
Operating Income Growth %	-	0.01%	-3.41%	-0.45%	-0.41%	-0.55%
EBITDA+	11.7M	11.66M	-26.11M	-37.65M	-51.52M	-74.15M
EBITDA Margin %	-	-	-	-	-1.79%	-2.37%
EBITDA Growth %	-	-0%	-3.24%	-0.44%	-0.37%	-0.44%
D&A (Non-Cash Add-back)	645.76K	479K	824K	1.29M	3.36M	10.71M
EBIT	-11.06M	-11.18M	44.93M	78.57M	22.84M	-82.66M
Net Interest Income+	51.59K	0	-1.43M	8.82M	6.17M	-371K
Interest Income	51.59K	341K	1.41M	8.82M	6.3M	0
Interest Expense	0	341K	2.84M	0	131K	371K
Other Income/Expense	-11.54M	-41.48M	69.02M	117.52M	77.59M	1.83M
Pretax Income+	-479.41K	-30.3M	42.09M	78.57M	22.71M	-83.03M
Pretax Margin %	-	-	-	-	0.79%	-2.65%
Income Tax+	0	0	0	0	-1.09M	669K
Effective Tax Rate %	1%	1%	1%	1%	1.05%	1.01%
Net Income+	-479.41K	-30.3M	42.09M	78.57M	23.8M	-83.7M
Net Margin %	-	-	-	-	0.83%	-2.68%
Net Income Growth %	-	-62.21%	2.39%	0.87%	-0.7%	-4.52%
Net Income (Continuing)	-479.41K	-30.3M	42.09M	78.57M	23.8M	-83.7M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0
EPS (Diluted)+	-0.37	-0.21	0.40	0.55	0.17	-0.58
EPS Growth %	-	0.43%	2.9%	0.38%	-0.69%	-4.41%
EPS (Basic)	-0.37	-0.21	0.42	0.57	0.17	-0.58
Diluted Shares Outstanding	1.28M	141.25M	106.24M	142.15M	142.66M	143.19M
Basic Shares Outstanding	1.28M	141.25M	101.22M	137.56M	139.72M	143.19M
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4.95M	2M	451.17M	331.5M	187.11M	139.17M
Cash & Short-Term Investments	3.05M	1.31M	444.1M	323.32M	158.26M	102.92M
Cash Only	3.05M	1.31M	46.64M	107.86M	75.5M	56.31M
Short-Term Investments	0	0	397.46M	215.46M	82.76M	46.61M
Accounts Receivable	0	48K	2.61M	4.35M	19.58M	21.7M
Days Sales Outstanding	-	-	-	-	248.07	253.26
Inventory	0	0	0	0	912K	866K
Days Inventory Outstanding	-	-	-	-	14.11	10.24
Other Current Assets	1.78M	565K	692K	3.83M	8.36M	13.68M
Total Non-Current Assets+	42.85M	45.42M	59.24M	162.2M	274.72M	238.85M
Property, Plant & Equipment	42.55M	45.1M	58.97M	156.96M	247.59M	207.65M
Fixed Asset Turnover	-	-	-	-	0.12x	0.15x
Goodwill	0	0	0	0	0	0
Intangible Assets	295.11K	258K	215K	160K	121K	73K
Long-Term Investments	0	0	0	0	0	0
Other Non-Current Assets	0	62K	62K	5.08M	25.75M	30.5M
Total Assets+	47.8M	47.43M	510.42M	493.7M	461.83M	378.03M
Asset Turnover	-	-	-	-	0.06x	0.08x
Asset Growth %	-	-0.01%	9.76%	-0.03%	-0.06%	-0.18%
Total Current Liabilities+	2.58M	7.76M	4.19M	19.81M	12.86M	12.55M
Accounts Payable	1.5M	2.7M	2.45M	10.38M	1.86M	2.92M
Days Payables Outstanding	-	-	-	-	28.75	34.54
Short-Term Debt	780.86K	3.23M	0	0	1.73M	3.77M
Deferred Revenue (Current)	0	0	0	0	800K	0
Other Current Liabilities	150.38K	1.24M	483K	395K	418K	2.65M
Current Ratio	1.92x	0.26x	107.76x	16.73x	14.55x	11.09x
Quick Ratio	1.92x	0.26x	107.76x	16.73x	14.48x	11.02x
Cash Conversion Cycle	-	-	-	-	233.43	228.95
Total Non-Current Liabilities+	16.48M	39.54M	202.72M	96.98M	26.46M	27.11M
Long-Term Debt	10.19M	6.09M	5.19M	5.85M	3.46M	1.73M
Capital Lease Obligations	0	0	1.49M	2.25M	4.21M	3.86M
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	6.3M	33.45M	196.04M	88.89M	18.8M	21.52M
Total Liabilities	19.06M	47.31M	206.91M	116.8M	39.33M	39.66M
Total Debt+	10.97M	9.33M	6.96M	8.71M	9.76M	9.68M
Net Debt	7.92M	8.02M	-39.68M	-99.14M	-65.74M	-46.62M
Debt / Equity	0.38x	75.83x	0.02x	0.02x	0.02x	0.03x
Debt / EBITDA	0.94x	0.80x	-	-	-	-
Net Debt / EBITDA	0.68x	0.69x	-	-	-	-
Interest Coverage	-	32.79x	-9.49x	-	-418.95x	-228.74x
Total Equity+	28.73M	123K	303.51M	376.9M	422.51M	338.37M
Equity Growth %	-	-1%	2466.56%	0.24%	0.12%	-0.2%
Book Value per Share	22.38	0.00	2.86	2.65	2.96	2.36
Total Shareholders' Equity	28.73M	123K	303.51M	376.9M	422.51M	338.37M
Common Stock	128	6K	16K	14K	15K	15K
Retained Earnings	-68.59M	-98.89M	-56.8M	21.77M	45.57M	-38.13M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	-409.51K	384K	-1.25M	-15.95M	-5.93M	-16.71M
Minority Interest	0	0	0	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-7.33M	-5.46M	-22.04M	-26.09M	-60.35M	-50.83M
Operating CF Margin %	-	-	-	-	-2.1%	-1.62%
Operating CF Growth %	-	0.25%	-3.04%	-0.18%	-1.31%	0.16%
Net Income	-479.41K	-30.3M	42.09M	78.57M	23.8M	-83.7M
Depreciation & Amortization	645.76K	479K	824K	1.29M	3.36M	10.71M
Stock-Based Compensation	43.77K	1.63M	5.77M	0	9.4M	10.08M
Deferred Taxes	383.88K	0	0	0	-1.25M	640K
Other Non-Cash Items	-10.04M	19.78M	-67.71M	-99.75M	-67.24M	22.03M
Working Capital Changes	2.51M	2.96M	-3.02M	-6.21M	-28.43M	-10.6M
Change in Receivables	-427.65K	1.09M	-2.56M	-1.73M	-15.23M	-3.36M
Change in Inventory	0	0	0	0	-912K	46K
Change in Payables	0	1.2M	-395K	0	909K	373K
Cash from Investing+	-7.15M	-2.05M	-411.64M	88.85M	26.23M	28.56M
Capital Expenditures	-7.15M	-1.79M	-12.27M	-83.69M	-102.19M	-8.95M
CapEx % of Revenue	-	-	-	-	3.55%	0.29%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	-268K	-201K	-245K	-7.91M	0
Cash from Financing+	4.42M	5.83M	478.95M	1.25M	146K	3.56M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	3.54M	2.66M	468.07M	849K	146K	8.35M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	-14.48M	-7.51M	-34.51M	-109.78M	-170.46M	-59.78M
FCF Margin %	-	-	-	-	-5.92%	-1.91%
FCF Growth %	-	0.48%	-3.59%	-2.18%	-0.55%	0.65%
FCF per Share	-11.28	-0.05	-0.32	-0.77	-1.19	-0.42
FCF Conversion (FCF/Net Income)	15.29x	0.18x	-0.52x	-0.33x	-2.54x	0.61x
Interest Paid	0	0	0	0	0	1.71M
Taxes Paid	0	0	0	0	129K	23K

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.67%	-210.01%	27.72%	23.09%	5.95%	-22%
Return on Invested Capital (ROIC)	-	37.43%	-14.85%	-10.79%	-12.97%	-19.63%
Gross Margin	-	-	-	-	18.1%	1.34%
Net Margin	-	-	-	-	82.62%	-267.56%
Debt / Equity	0.38x	75.83x	0.02x	0.02x	0.02x	0.03x
Interest Coverage	-	32.79x	-9.49x	-	-418.95x	-228.74x
FCF Conversion	15.29x	0.18x	-0.52x	-0.33x	-2.54x	0.61x
Revenue Growth	-	-	-	-	-	8.6%

Revenue by Segment

	2023	2024
Product	23.9M	31.28M
Product Growth	-	30.90%
Service	4.91M	3K
Service Growth	-	-99.94%

Frequently Asked Questions

Growth & Financials

Origin Materials, Inc. (ORGN) reported $25.1M in revenue for fiscal year 2024.

Origin Materials, Inc. (ORGN) grew revenue by 8.6% over the past year. This is steady growth.

Origin Materials, Inc. (ORGN) reported a net loss of $69.1M for fiscal year 2024.

Dividend & Returns

Origin Materials, Inc. (ORGN) has a return on equity (ROE) of -22.0%. Negative ROE indicates the company is unprofitable.

Origin Materials, Inc. (ORGN) had negative free cash flow of $54.5M in fiscal year 2024, likely due to heavy capital investments.

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