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Side-by-side financial comparison of AEMETIS, INC (AMTX) and GRAHAM CORP (GHM). Click either name above to swap in a different company.
GRAHAM CORP is the larger business by last-quarter revenue ($56.7M vs $43.3M, roughly 1.3× AEMETIS, INC). On growth, GRAHAM CORP posted the faster year-over-year revenue change (20.5% vs -7.9%). GRAHAM CORP produced more free cash flow last quarter ($2.4M vs $-10.8M). Over the past eight quarters, GRAHAM CORP's revenue compounded faster (7.5% 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.
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
AMTX vs GHM — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.3M | $56.7M |
| Net Profit | — | $2.8M |
| Gross Margin | 17.8% | 23.8% |
| Operating Margin | -5.7% | 5.5% |
| Net Margin | — | 5.0% |
| Revenue YoY | -7.9% | 20.5% |
| Net Profit YoY | — | 79.2% |
| EPS (diluted) | $-0.03 | $0.25 |
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 | $56.7M | ||
| Q3 25 | $59.2M | $66.0M | ||
| Q2 25 | $52.2M | $55.5M | ||
| Q1 25 | $42.9M | $59.3M | ||
| Q4 24 | $47.0M | $47.0M | ||
| Q3 24 | $81.4M | $53.6M | ||
| Q2 24 | $66.6M | $50.0M | ||
| Q1 24 | $72.6M | $49.1M |
| Q4 25 | — | $2.8M | ||
| Q3 25 | $-23.7M | $3.1M | ||
| Q2 25 | $-23.4M | $4.6M | ||
| Q1 25 | $-24.5M | $4.4M | ||
| Q4 24 | — | $1.6M | ||
| Q3 24 | $-17.9M | $3.3M | ||
| Q2 24 | $-29.2M | $3.0M | ||
| Q1 24 | $-24.2M | $1.3M |
| Q4 25 | 17.8% | 23.8% | ||
| Q3 25 | -0.1% | 21.7% | ||
| Q2 25 | -6.4% | 26.5% | ||
| Q1 25 | -11.8% | 27.0% | ||
| Q4 24 | -4.3% | 24.8% | ||
| Q3 24 | 4.8% | 23.9% | ||
| Q2 24 | -2.7% | 24.8% | ||
| Q1 24 | -0.8% | 25.9% |
| Q4 25 | -5.7% | 5.5% | ||
| Q3 25 | -14.4% | 6.5% | ||
| Q2 25 | -20.4% | 8.9% | ||
| Q1 25 | -36.3% | 9.3% | ||
| Q4 24 | -28.7% | 4.7% | ||
| Q3 24 | -4.8% | 7.9% | ||
| Q2 24 | -20.4% | 6.5% | ||
| Q1 24 | -13.0% | 3.1% |
| Q4 25 | — | 5.0% | ||
| Q3 25 | -40.1% | 4.7% | ||
| Q2 25 | -44.8% | 8.3% | ||
| Q1 25 | -57.2% | 7.4% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | -22.0% | 6.1% | ||
| Q2 24 | -43.8% | 5.9% | ||
| Q1 24 | -33.4% | 2.7% |
| Q4 25 | $-0.03 | $0.25 | ||
| Q3 25 | $-0.37 | $0.28 | ||
| Q2 25 | $-0.41 | $0.42 | ||
| Q1 25 | $-0.47 | $0.40 | ||
| Q4 24 | $-0.29 | $0.14 | ||
| Q3 24 | $-0.38 | $0.30 | ||
| Q2 24 | $-0.66 | $0.27 | ||
| Q1 24 | $-0.58 | $0.11 |
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 | $22.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-306.8M | $131.3M |
| Total Assets | $259.8M | $292.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $22.3M | ||
| Q3 25 | $5.6M | $20.6M | ||
| Q2 25 | $1.6M | $10.8M | ||
| Q1 25 | $499.0K | $21.6M | ||
| Q4 24 | $898.0K | $30.0M | ||
| Q3 24 | $296.0K | $32.3M | ||
| Q2 24 | $234.0K | $21.6M | ||
| Q1 24 | $1.6M | $16.9M |
| 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 | $131.3M | ||
| Q3 25 | $-304.9M | $127.6M | ||
| Q2 25 | $-289.3M | $123.4M | ||
| Q1 25 | $-280.7M | $119.6M | ||
| Q4 24 | $-263.9M | $114.4M | ||
| Q3 24 | $-258.9M | $112.5M | ||
| Q2 24 | $-249.0M | $108.2M | ||
| Q1 24 | $-232.1M | $105.6M |
| Q4 25 | $259.8M | $292.9M | ||
| Q3 25 | $241.1M | $287.0M | ||
| Q2 25 | $240.0M | $252.3M | ||
| Q1 25 | $242.5M | $264.1M | ||
| Q4 24 | $259.3M | $264.3M | ||
| Q3 24 | $259.3M | $249.5M | ||
| Q2 24 | $259.3M | $244.2M | ||
| Q1 24 | $259.3M | $233.9M |
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 | $4.8M |
| Free Cash FlowOCF − Capex | $-10.8M | $2.4M |
| FCF MarginFCF / Revenue | -24.9% | 4.3% |
| Capex IntensityCapex / Revenue | 38.2% | 4.1% |
| Cash ConversionOCF / Net Profit | — | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | $-22.7M | $-6.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $4.8M | ||
| Q3 25 | $3.1M | $13.6M | ||
| Q2 25 | $-5.7M | $-2.3M | ||
| Q1 25 | $160.0K | $-3.6M | ||
| Q4 24 | $-12.6M | $5.2M | ||
| Q3 24 | $-5.0M | $13.9M | ||
| Q2 24 | $-5.1M | $8.7M | ||
| Q1 24 | $-10.3M | $8.6M |
| Q4 25 | $-10.8M | $2.4M | ||
| Q3 25 | $-1.0M | $9.4M | ||
| Q2 25 | $-9.3M | $-9.3M | ||
| Q1 25 | $-1.7M | $-8.7M | ||
| Q4 24 | $-19.4M | $-2.1M | ||
| Q3 24 | $-9.5M | $10.4M | ||
| Q2 24 | $-10.5M | $5.7M | ||
| Q1 24 | $-13.9M | $4.6M |
| Q4 25 | -24.9% | 4.3% | ||
| Q3 25 | -1.7% | 14.3% | ||
| Q2 25 | -17.7% | -16.7% | ||
| Q1 25 | -3.9% | -14.7% | ||
| Q4 24 | -41.2% | -4.5% | ||
| Q3 24 | -11.6% | 19.5% | ||
| Q2 24 | -15.8% | 11.5% | ||
| Q1 24 | -19.1% | 9.4% |
| Q4 25 | 38.2% | 4.1% | ||
| Q3 25 | 6.9% | 6.3% | ||
| Q2 25 | 6.7% | 12.6% | ||
| Q1 25 | 4.3% | 8.7% | ||
| Q4 24 | 14.4% | 15.6% | ||
| Q3 24 | 5.5% | 6.5% | ||
| Q2 24 | 8.1% | 6.0% | ||
| Q1 24 | 4.9% | 8.2% |
| Q4 25 | — | 1.67× | ||
| Q3 25 | — | 4.40× | ||
| Q2 25 | — | -0.49× | ||
| Q1 25 | — | -0.81× | ||
| Q4 24 | — | 3.29× | ||
| Q3 24 | — | 4.25× | ||
| Q2 24 | — | 2.94× | ||
| Q1 24 | — | 6.45× |
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% |
GHM
| Defense | $35.3M | 62% |
| Energy And Process | $18.3M | 32% |
| Space | $3.1M | 6% |
