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Side-by-side financial comparison of AEMETIS, INC (AMTX) and Apollo Commercial Real Estate Finance, Inc. (ARI). Click either name above to swap in a different company.
Apollo Commercial Real Estate Finance, Inc. is the larger business by last-quarter revenue ($73.3M vs $43.3M, roughly 1.7× AEMETIS, INC). On growth, Apollo Commercial Real Estate Finance, Inc. posted the faster year-over-year revenue change (4.0% vs -7.9%). Over the past eight quarters, Apollo Commercial Real Estate Finance, Inc.'s revenue compounded faster (-4.6% CAGR vs -22.8%).
Aemetis, Inc. is a renewable fuels and sustainable biochemicals producer operating across North America and India. Its core products include low-carbon ethanol, renewable natural gas and biodiesel, serving transportation, industrial and agricultural sectors with decarbonization solutions for commercial clients.
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.
AMTX vs ARI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.3M | $73.3M |
| Net Profit | — | $29.2M |
| Gross Margin | 17.8% | — |
| Operating Margin | -5.7% | 39.7% |
| Net Margin | — | 39.9% |
| Revenue YoY | -7.9% | 4.0% |
| Net Profit YoY | — | -28.2% |
| EPS (diluted) | $-0.03 | $0.19 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.3M | $73.3M | ||
| Q3 25 | $59.2M | $61.6M | ||
| Q2 25 | $52.2M | $70.9M | ||
| Q1 25 | $42.9M | $65.8M | ||
| Q4 24 | $47.0M | $70.5M | ||
| Q3 24 | $81.4M | $71.6M | ||
| Q2 24 | $66.6M | $81.1M | ||
| Q1 24 | $72.6M | $80.5M |
| Q4 25 | — | $29.2M | ||
| Q3 25 | $-23.7M | $50.8M | ||
| Q2 25 | $-23.4M | $20.7M | ||
| Q1 25 | $-24.5M | $26.0M | ||
| Q4 24 | — | $40.7M | ||
| Q3 24 | $-17.9M | $-91.5M | ||
| Q2 24 | $-29.2M | $35.8M | ||
| Q1 24 | $-24.2M | $-104.5M |
| Q4 25 | 17.8% | — | ||
| Q3 25 | -0.1% | — | ||
| Q2 25 | -6.4% | — | ||
| Q1 25 | -11.8% | — | ||
| Q4 24 | -4.3% | — | ||
| Q3 24 | 4.8% | — | ||
| Q2 24 | -2.7% | — | ||
| Q1 24 | -0.8% | — |
| Q4 25 | -5.7% | 39.7% | ||
| Q3 25 | -14.4% | 82.8% | ||
| Q2 25 | -20.4% | 29.4% | ||
| Q1 25 | -36.3% | 39.7% | ||
| Q4 24 | -28.7% | 57.9% | ||
| Q3 24 | -4.8% | -127.8% | ||
| Q2 24 | -20.4% | 44.2% | ||
| Q1 24 | -13.0% | -129.6% |
| Q4 25 | — | 39.9% | ||
| Q3 25 | -40.1% | 82.4% | ||
| Q2 25 | -44.8% | 29.3% | ||
| Q1 25 | -57.2% | 39.5% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -22.0% | -127.9% | ||
| Q2 24 | -43.8% | 44.1% | ||
| Q1 24 | -33.4% | -129.8% |
| Q4 25 | $-0.03 | $0.19 | ||
| Q3 25 | $-0.37 | $0.34 | ||
| Q2 25 | $-0.41 | $0.12 | ||
| Q1 25 | $-0.47 | $0.16 | ||
| Q4 24 | $-0.29 | $0.25 | ||
| Q3 24 | $-0.38 | $-0.69 | ||
| Q2 24 | $-0.66 | $0.23 | ||
| Q1 24 | $-0.58 | $-0.76 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9M | $139.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-306.8M | $1.9B |
| Total Assets | $259.8M | $9.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $139.8M | ||
| Q3 25 | $5.6M | $245.9M | ||
| Q2 25 | $1.6M | $177.6M | ||
| Q1 25 | $499.0K | $166.4M | ||
| Q4 24 | $898.0K | $317.4M | ||
| Q3 24 | $296.0K | $194.3M | ||
| Q2 24 | $234.0K | $174.7M | ||
| Q1 24 | $1.6M | $161.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $338.1M | — | ||
| Q3 24 | $322.2M | — | ||
| Q2 24 | $309.0M | — | ||
| Q1 24 | $307.2M | — |
| Q4 25 | $-306.8M | $1.9B | ||
| Q3 25 | $-304.9M | $1.9B | ||
| Q2 25 | $-289.3M | $1.8B | ||
| Q1 25 | $-280.7M | $1.9B | ||
| Q4 24 | $-263.9M | $1.9B | ||
| Q3 24 | $-258.9M | $1.9B | ||
| Q2 24 | $-249.0M | $2.0B | ||
| Q1 24 | $-232.1M | $2.0B |
| Q4 25 | $259.8M | $9.9B | ||
| Q3 25 | $241.1M | $9.5B | ||
| Q2 25 | $240.0M | $9.8B | ||
| Q1 25 | $242.5M | $8.8B | ||
| Q4 24 | $259.3M | $8.4B | ||
| Q3 24 | $259.3M | $9.1B | ||
| Q2 24 | $259.3M | $9.3B | ||
| Q1 24 | $259.3M | $9.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.8M | $142.5M |
| Free Cash FlowOCF − Capex | $-10.8M | — |
| FCF MarginFCF / Revenue | -24.9% | — |
| Capex IntensityCapex / Revenue | 38.2% | — |
| Cash ConversionOCF / Net Profit | — | 4.88× |
| TTM Free Cash FlowTrailing 4 quarters | $-22.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $142.5M | ||
| Q3 25 | $3.1M | $31.7M | ||
| Q2 25 | $-5.7M | $63.2M | ||
| Q1 25 | $160.0K | $39.3M | ||
| Q4 24 | $-12.6M | $200.3M | ||
| Q3 24 | $-5.0M | $47.2M | ||
| Q2 24 | $-5.1M | $50.2M | ||
| Q1 24 | $-10.3M | $52.8M |
| Q4 25 | $-10.8M | — | ||
| Q3 25 | $-1.0M | — | ||
| Q2 25 | $-9.3M | — | ||
| Q1 25 | $-1.7M | — | ||
| Q4 24 | $-19.4M | — | ||
| Q3 24 | $-9.5M | — | ||
| Q2 24 | $-10.5M | — | ||
| Q1 24 | $-13.9M | — |
| Q4 25 | -24.9% | — | ||
| Q3 25 | -1.7% | — | ||
| Q2 25 | -17.7% | — | ||
| Q1 25 | -3.9% | — | ||
| Q4 24 | -41.2% | — | ||
| Q3 24 | -11.6% | — | ||
| Q2 24 | -15.8% | — | ||
| Q1 24 | -19.1% | — |
| Q4 25 | 38.2% | — | ||
| Q3 25 | 6.9% | — | ||
| Q2 25 | 6.7% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 8.1% | — | ||
| Q1 24 | 4.9% | — |
| Q4 25 | — | 4.88× | ||
| Q3 25 | — | 0.62× | ||
| Q2 25 | — | 3.05× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | — | 4.93× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.40× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMTX
| Ethanol Sales | $28.8M | 66% |
| Wet Distillers Grains | $6.8M | 16% |
| California Dairy Renewable Natural Gas | $5.2M | 12% |
| Other | $1.8M | 4% |
ARI
Segment breakdown not available.
