American Resources Corporation Financial Ratios — ARECW

Profitability (USD)

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-68.44	-116.96	-156.52	-43.3	-185.18	-27.85	-79.97	-2.93	-15.52
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	3.54	45.06	-2.39	10.65	-23.82	-381.96	-8.25	35.47	14.84
EBITDA Margin (%)	- -	-595.59	-184.7	-53.85	-29.7	-107.91	-1,288.34	-323.74	-51.86	-107.4
Operating Margin (%)	- -	-643.91	-210.84	-66.13	-39.03	-133.43	-1,552.09	-365.34	-60.79	-118.83
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	-677.56	-488.29	-67.36	-40.47	-289.73	-967.81	-419.12	-3.66	-68.41
Profit Margin (%)	- -	-680.07	-487.28	-69.01	-40.95	-289.73	-967.81	-419.12	-3.66	-68.41
Net Income to Common Margin (%)	- -	-680.07	-487.28	-69.27	-41.31	-289.73	-967.81	-419.12	-3.66	-68.41
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	0.39	0.9	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	- -	- -	- -	15	22	33	31	16	23	58
ST Debt	- -	- -	- -	10	14	28	11	6	16	6
LT Debt	- -	- -	- -	5	8	5	20	10	8	52
Total Debt/EBITDA	- -	-0.05	-0.18	-1.31	-2.37	-1.27	-2.25	-0.63	-1.15	-3.22
Net Debt/EBITDA	0.97	0.19	- -	-1.3	-2.13	-1.27	-1.47	-0.14	-0.04	-2.35
Total Debt/EBIT	- -	-0.05	-0.16	-1.07	-1.81	-1.02	-1.87	-0.55	-0.98	-2.91
Net Debt/EBIT	0.97	0.17	- -	-1.06	-1.62	-1.02	-1.22	-0.12	-0.03	-2.13
EBITDA to Interest Expense	- -	- -	- -	-10.82	-4.78	-2.48	-4.02	-6.02	-14.35	-13.45
EBITDA-CapEx/Interest Expense	- -	- -	- -	-10.99	-4.85	-2.51	-4.02	-6.02	-14.35	-13.45
EBIT to Interest Expense	- -	- -	- -	-13.29	-6.28	-3.07	-4.84	-6.8	-16.83	-14.88
Interest Expense	- -	- -	- -	1	2	11	3	4	1	1
Common Equity/Total Assets	-78.79	-45.21	-1,267.02	-230.08	-125.99	-349.22	-346.96	-386.7	-299.08	-194.76
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	2,775.82	23,303.26
Long-Term Debt/Capital (%)	- -	- -	- -	-18.9	-26.5	-6.05	-19.14	-6.48	-5.5	-43.16
Long-Term Debt/Total Assets (%)	- -	- -	- -	27.82	19.14	15.37	51.1	22.67	14.13	56.86
Total Debt/Equity (%)	- -	1.75	-69.9	-36.73	-241.64	-102.32	-153.47	-670.44	8,252.11	25,835.89
Total Debt/Capital (%)	- -	38.62	-4.52	-54.76	-74.39	-37.36	-29.93	-10.48	-16.34	-47.85
Total Debt/Total Assets (%)	- -	1.64	51.56	80.64	53.74	94.98	79.92	36.68	42.02	63.03
Net Debt to Equity	-77.13	-6.54	-1.7	-36.27	-216.72	-102.31	-100.4	-150.57	292.06	18,892.85
Net Debt/Capital (%)	48.78	173.81	-0.1	-53.69	-61.96	-37.35	-17.74	-2.19	-0.54	-34.24
EBITDA	- -	- -	- -	-11	-9	-26	-14	-25	-20	-18
EBITDA-CapEx	- -	- -	- -	-11	-9	-27	-14	-25	-20	-18
Operating Income (Loss)	- -	- -	- -	-14	-12	-33	-16	-28	-24	-20

Liquidity (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	36.79	2.04	0.5	0.01	0.09	- -	0.51	0.7	0.4	0.15
Current Ratio	36.79	9.46	0.54	0.08	0.16	0.07	0.54	0.93	0.47	1.93
Quick Ratio	36.79	2.04	0.51	0.06	0.15	0.06	0.52	0.89	0.42	0.15
CFO/Avg Current Liab	- -	-2.47	-0.85	-0.32	-0.11	-0.54	-0.42	-1.55	0.12	-0.64
Common Equity/Total Assets	-78.79	-45.21	-1,267.02	-230.08	-125.99	-349.22	-346.96	-386.7	-299.08	-194.76
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	2,775.82	23,303.26
Long-Term Debt/Capital (%)	- -	- -	- -	-18.9	-26.5	-6.05	-19.14	-6.48	-5.5	-43.16
Long-Term Debt/Total Assets (%)	- -	- -	- -	27.82	19.14	15.37	51.1	22.67	14.13	56.86
Total Debt/Equity (%)	- -	1.75	-69.9	-36.73	-241.64	-102.32	-153.47	-670.44	8,252.11	25,835.89
Total Debt/Capital (%)	- -	38.62	-4.52	-54.76	-74.39	-37.36	-29.93	-10.48	-16.34	-47.85
Total Debt/Total Assets (%)	- -	1.64	51.56	80.64	53.74	94.98	79.92	36.68	42.02	63.03
CFO/Total Liabilities	-2,731.73	-128.7	-59.61	-9.67	-6.66	-28.27	-23.7	-64.34	4.58	-15.86
CFO/CapEx	- -	-17.54	-33.48	-32.55	-25.24	-58.69	- -	- -	- -	- -
Altman's Z-Score	-2.5	-1.99	-27.78	-6.72	-2.63	-8.68	-6.55	-7.45	-5.21	-3.04

Working Capital (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	- -	- -	133.29	22.24	19.65	13.01	0.86	4.83	20.58	50.68
Days Sales Outstanding	- -	- -	2.74	16.42	18.58	28.06	424.27	75.64	17.74	7.2
Inventory Turnover	- -	28.98	17.76	68.76	72.33	89.22	15.33	111.56	114.05	56.96
Days Inventory Outstanding	- -	12.59	20.56	5.31	5.05	4.09	23.8	3.27	3.2	6.41
Accounts Payable Turnover	- -	8.95	6.66	8.17	3.97	3.01	0.57	1.36	3.16	1.52
Accounts Payable Turnover Days	- -	40.78	54.84	44.7	91.9	121.18	643.87	268.87	115.4	240.74
Cash Conversion Cycle	- -	-28.19	-31.55	-22.97	-68.27	-89.03	-195.79	-189.95	-94.46	-227.13
Inventory to Cash Days	- -	-12.59	-17.82	11.11	13.53	23.97	400.47	72.37	14.54	0.79
Inventories	- -	- -	- -	1	- -	1	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	1	- -	1	- -	- -	- -	- -

Enterprise Value (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	- -	- -	- -	- -	2	- -	11	11	11	3
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	15	22	33	31	16	23	58
Enterprise Value	- -	- -	- -	15	20	33	20	4	13	55
Total Capital	- -	- -	-1	-27	-30	-90	-103	-150	-144	-121
Total Debt/Capital (%)	- -	38.62	-4.52	-54.76	-74.39	-37.36	-29.93	-10.48	-16.34	-47.85
Total Debt / EV	- -	0.04	1.33	0.99	1.12	1	1.53	3.72	1.86	1.05
EV/Sales	- -	6.73	0.25	0.72	0.63	1.37	18.95	0.55	0.32	3.29
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	3.17	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	3.17	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	- -	- -	- -	15	20	33	20	4	13	55
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	- -	- -	- -	21	32	24	1	8	39	17
TTM EBITDA	- -	- -	- -	-11	-9	-26	-14	-25	-20	-18
TTM Operating Income	- -	- -	- -	-14	-12	-33	-16	-28	-24	-20
TTM Cash Flow to Firm	- -	- -	- -	-5	-1	-9	-10	-25	4	-13
TTM Free Cash Flow to Firm	- -	- -	- -	-4	-1	-8	-10	-25	4	-13

Multiples (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	- -	- -	15	20	33	20	4	13	55
Low Price	- -	- -	- -	- -	- -	0.12	- -	0.3	0.03	0.1
EV/Sales	- -	6.73	0.25	0.72	0.63	1.37	18.95	0.55	0.32	3.29
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	- -	7.55	0.49	0.72	0.63	1.37	18.95	0.55	0.32	3.29
EV/Sales High	- -	7.55	0.49	0.72	0.63	1.37	18.95	0.55	0.32	3.29
EV/Sales Low	- -	7.55	0.49	0.72	0.63	1.37	18.95	0.55	0.32	3.29
EV/EBITDA Average	0.97	-1.27	-0.27	-1.33	-2.13	-1.27	-1.47	-0.17	-0.62	-3.07
EV/EBITDA High	0.97	-1.27	-0.27	-1.33	-2.13	-1.27	-1.47	-0.17	-0.62	-3.07
EV/EBITDA Low	0.97	-1.27	-0.27	-1.33	-2.13	-1.27	-1.47	-0.17	-0.62	-3.07
EV/EBIT Average	0.97	-1.17	-0.23	-1.09	-1.62	-1.02	-1.22	-0.15	-0.53	-2.77
EV/EBIT High	0.97	-1.17	-0.23	-1.09	-1.62	-1.02	-1.22	-0.15	-0.53	-2.77
EV/EBIT Low	0.97	-1.17	-0.23	-1.09	-1.62	-1.02	-1.22	-0.15	-0.53	-2.77
Last Price	- -	- -	- -	- -	- -	0.12	0.75	1.3	0.11	0.55
High Price	- -	- -	- -	- -	- -	0.21	3	6.69	2.25	1.02
Enterprise Value Average	- -	- -	- -	15	20	33	20	4	13	55
Enterprise Value High	- -	- -	- -	15	20	33	20	4	13	55
Enterprise Value Low	- -	- -	- -	15	20	33	20	4	13	55

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Shares Outstanding	- -	1	1	1	18	27	41	65	67	76
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

American Resources Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)