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Side-by-side financial comparison of AEMETIS, INC (AMTX) and Bank First Corp (BFC). Click either name above to swap in a different company.
Bank First Corp is the larger business by last-quarter revenue ($44.9M vs $43.3M, roughly 1.0× AEMETIS, INC). On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs -7.9%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $-10.8M). Over the past eight quarters, Bank First Corp's revenue compounded faster (9.1% 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.
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
AMTX vs BFC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.3M | $44.9M |
| Net Profit | — | $18.4M |
| Gross Margin | 17.8% | — |
| Operating Margin | -5.7% | 51.0% |
| Net Margin | — | 45.8% |
| Revenue YoY | -7.9% | 12.1% |
| Net Profit YoY | — | 4.8% |
| EPS (diluted) | $-0.03 | $1.87 |
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 | $44.9M | ||
| Q3 25 | $59.2M | $44.2M | ||
| Q2 25 | $52.2M | $41.6M | ||
| Q1 25 | $42.9M | $43.1M | ||
| Q4 24 | $47.0M | $40.1M | ||
| Q3 24 | $81.4M | $40.8M | ||
| Q2 24 | $66.6M | $38.9M | ||
| Q1 24 | $72.6M | $37.7M |
| Q4 25 | — | $18.4M | ||
| Q3 25 | $-23.7M | $18.0M | ||
| Q2 25 | $-23.4M | $16.9M | ||
| Q1 25 | $-24.5M | $18.2M | ||
| Q4 24 | — | $17.5M | ||
| Q3 24 | $-17.9M | $16.6M | ||
| Q2 24 | $-29.2M | $16.1M | ||
| Q1 24 | $-24.2M | $15.4M |
| 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% | 51.0% | ||
| Q3 25 | -14.4% | 50.8% | ||
| Q2 25 | -20.4% | 49.7% | ||
| Q1 25 | -36.3% | 51.3% | ||
| Q4 24 | -28.7% | 54.4% | ||
| Q3 24 | -4.8% | 50.7% | ||
| Q2 24 | -20.4% | 51.0% | ||
| Q1 24 | -13.0% | 45.6% |
| Q4 25 | — | 45.8% | ||
| Q3 25 | -40.1% | 40.7% | ||
| Q2 25 | -44.8% | 40.5% | ||
| Q1 25 | -57.2% | 42.3% | ||
| Q4 24 | — | 49.3% | ||
| Q3 24 | -22.0% | 40.6% | ||
| Q2 24 | -43.8% | 41.3% | ||
| Q1 24 | -33.4% | 40.8% |
| Q4 25 | $-0.03 | $1.87 | ||
| Q3 25 | $-0.37 | $1.83 | ||
| Q2 25 | $-0.41 | $1.71 | ||
| Q1 25 | $-0.47 | $1.82 | ||
| Q4 24 | $-0.29 | $1.75 | ||
| Q3 24 | $-0.38 | $1.65 | ||
| Q2 24 | $-0.66 | $1.59 | ||
| Q1 24 | $-0.58 | $1.51 |
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 | $243.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-306.8M | $643.8M |
| Total Assets | $259.8M | $4.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $243.2M | ||
| Q3 25 | $5.6M | $126.2M | ||
| Q2 25 | $1.6M | $120.3M | ||
| Q1 25 | $499.0K | $300.9M | ||
| Q4 24 | $898.0K | $261.3M | ||
| Q3 24 | $296.0K | $204.4M | ||
| Q2 24 | $234.0K | $99.0M | ||
| Q1 24 | $1.6M | $83.4M |
| 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 | $643.8M | ||
| Q3 25 | $-304.9M | $628.1M | ||
| Q2 25 | $-289.3M | $612.3M | ||
| Q1 25 | $-280.7M | $648.4M | ||
| Q4 24 | $-263.9M | $639.7M | ||
| Q3 24 | $-258.9M | $628.9M | ||
| Q2 24 | $-249.0M | $614.6M | ||
| Q1 24 | $-232.1M | $609.3M |
| Q4 25 | $259.8M | $4.5B | ||
| Q3 25 | $241.1M | $4.4B | ||
| Q2 25 | $240.0M | $4.4B | ||
| Q1 25 | $242.5M | $4.5B | ||
| Q4 24 | $259.3M | $4.5B | ||
| Q3 24 | $259.3M | $4.3B | ||
| Q2 24 | $259.3M | $4.1B | ||
| Q1 24 | $259.3M | $4.1B |
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 | $62.5M |
| Free Cash FlowOCF − Capex | $-10.8M | $51.0M |
| FCF MarginFCF / Revenue | -24.9% | 113.6% |
| Capex IntensityCapex / Revenue | 38.2% | 25.5% |
| Cash ConversionOCF / Net Profit | — | 3.40× |
| TTM Free Cash FlowTrailing 4 quarters | $-22.7M | $75.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $62.5M | ||
| Q3 25 | $3.1M | $15.5M | ||
| Q2 25 | $-5.7M | $11.9M | ||
| Q1 25 | $160.0K | $6.2M | ||
| Q4 24 | $-12.6M | $65.8M | ||
| Q3 24 | $-5.0M | $18.8M | ||
| Q2 24 | $-5.1M | $14.9M | ||
| Q1 24 | $-10.3M | $1.3M |
| Q4 25 | $-10.8M | $51.0M | ||
| Q3 25 | $-1.0M | $12.5M | ||
| Q2 25 | $-9.3M | $8.2M | ||
| Q1 25 | $-1.7M | $4.0M | ||
| Q4 24 | $-19.4M | $58.6M | ||
| Q3 24 | $-9.5M | $16.9M | ||
| Q2 24 | $-10.5M | $13.7M | ||
| Q1 24 | $-13.9M | $551.0K |
| Q4 25 | -24.9% | 113.6% | ||
| Q3 25 | -1.7% | 28.2% | ||
| Q2 25 | -17.7% | 19.8% | ||
| Q1 25 | -3.9% | 9.3% | ||
| Q4 24 | -41.2% | 146.3% | ||
| Q3 24 | -11.6% | 41.5% | ||
| Q2 24 | -15.8% | 35.3% | ||
| Q1 24 | -19.1% | 1.5% |
| Q4 25 | 38.2% | 25.5% | ||
| Q3 25 | 6.9% | 6.7% | ||
| Q2 25 | 6.7% | 8.7% | ||
| Q1 25 | 4.3% | 5.0% | ||
| Q4 24 | 14.4% | 18.0% | ||
| Q3 24 | 5.5% | 4.5% | ||
| Q2 24 | 8.1% | 3.1% | ||
| Q1 24 | 4.9% | 2.1% |
| Q4 25 | — | 3.40× | ||
| Q3 25 | — | 0.86× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 3.75× | ||
| Q3 24 | — | 1.13× | ||
| Q2 24 | — | 0.93× | ||
| Q1 24 | — | 0.09× |
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% |
BFC
Segment breakdown not available.
