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Side-by-side financial comparison of AEMETIS, INC (AMTX) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
Lifeway Foods, Inc. is the larger business by last-quarter revenue ($55.4M vs $43.3M, roughly 1.3× AEMETIS, INC). On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs -7.9%). AEMETIS, INC produced more free cash flow last quarter ($-10.8M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% 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.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
AMTX vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.3M | $55.4M |
| Net Profit | — | $2.5M |
| Gross Margin | 17.8% | 27.8% |
| Operating Margin | -5.7% | 6.8% |
| Net Margin | — | 4.6% |
| Revenue YoY | -7.9% | 18.0% |
| Net Profit YoY | — | 1688.1% |
| EPS (diluted) | $-0.03 | $0.15 |
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 | $55.4M | ||
| Q3 25 | $59.2M | $57.1M | ||
| Q2 25 | $52.2M | $53.9M | ||
| Q1 25 | $42.9M | $46.1M | ||
| Q4 24 | $47.0M | $46.9M | ||
| Q3 24 | $81.4M | $46.1M | ||
| Q2 24 | $66.6M | $49.2M | ||
| Q1 24 | $72.6M | $44.6M |
| Q4 25 | — | $2.5M | ||
| Q3 25 | $-23.7M | $3.5M | ||
| Q2 25 | $-23.4M | $4.2M | ||
| Q1 25 | $-24.5M | $3.5M | ||
| Q4 24 | — | $-160.0K | ||
| Q3 24 | $-17.9M | $3.0M | ||
| Q2 24 | $-29.2M | $3.8M | ||
| Q1 24 | $-24.2M | $2.4M |
| Q4 25 | 17.8% | 27.8% | ||
| Q3 25 | -0.1% | 28.7% | ||
| Q2 25 | -6.4% | 28.6% | ||
| Q1 25 | -11.8% | 23.9% | ||
| Q4 24 | -4.3% | 25.3% | ||
| Q3 24 | 4.8% | 25.7% | ||
| Q2 24 | -2.7% | 27.0% | ||
| Q1 24 | -0.8% | 25.8% |
| Q4 25 | -5.7% | 6.8% | ||
| Q3 25 | -14.4% | 8.8% | ||
| Q2 25 | -20.4% | 10.8% | ||
| Q1 25 | -36.3% | 3.4% | ||
| Q4 24 | -28.7% | 1.5% | ||
| Q3 24 | -4.8% | 9.1% | ||
| Q2 24 | -20.4% | 11.0% | ||
| Q1 24 | -13.0% | 8.0% |
| Q4 25 | — | 4.6% | ||
| Q3 25 | -40.1% | 6.2% | ||
| Q2 25 | -44.8% | 7.9% | ||
| Q1 25 | -57.2% | 7.7% | ||
| Q4 24 | — | -0.3% | ||
| Q3 24 | -22.0% | 6.5% | ||
| Q2 24 | -43.8% | 7.7% | ||
| Q1 24 | -33.4% | 5.4% |
| Q4 25 | $-0.03 | $0.15 | ||
| Q3 25 | $-0.37 | $0.23 | ||
| Q2 25 | $-0.41 | $0.28 | ||
| Q1 25 | $-0.47 | $0.23 | ||
| Q4 24 | $-0.29 | $0.00 | ||
| Q3 24 | $-0.38 | $0.19 | ||
| Q2 24 | $-0.66 | $0.25 | ||
| Q1 24 | $-0.58 | $0.16 |
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 | $5.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-306.8M | $85.8M |
| Total Assets | $259.8M | $105.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $5.6M | ||
| Q3 25 | $5.6M | $23.0M | ||
| Q2 25 | $1.6M | $21.2M | ||
| Q1 25 | $499.0K | $19.4M | ||
| Q4 24 | $898.0K | $16.7M | ||
| Q3 24 | $296.0K | $20.6M | ||
| Q2 24 | $234.0K | $14.6M | ||
| Q1 24 | $1.6M | $12.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $338.1M | — | ||
| Q3 24 | $322.2M | — | ||
| Q2 24 | $309.0M | — | ||
| Q1 24 | $307.2M | $2.5M |
| Q4 25 | $-306.8M | $85.8M | ||
| Q3 25 | $-304.9M | $82.8M | ||
| Q2 25 | $-289.3M | $78.7M | ||
| Q1 25 | $-280.7M | $74.2M | ||
| Q4 24 | $-263.9M | $71.9M | ||
| Q3 24 | $-258.9M | $71.5M | ||
| Q2 24 | $-249.0M | $68.0M | ||
| Q1 24 | $-232.1M | $63.5M |
| Q4 25 | $259.8M | $105.6M | ||
| Q3 25 | $241.1M | $109.5M | ||
| Q2 25 | $240.0M | $98.3M | ||
| Q1 25 | $242.5M | $93.7M | ||
| Q4 24 | $259.3M | $90.5M | ||
| Q3 24 | $259.3M | $91.3M | ||
| Q2 24 | $259.3M | $84.9M | ||
| Q1 24 | $259.3M | $82.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.04× |
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 | $267.0K |
| Free Cash FlowOCF − Capex | $-10.8M | $-17.4M |
| FCF MarginFCF / Revenue | -24.9% | -31.5% |
| Capex IntensityCapex / Revenue | 38.2% | 31.9% |
| Cash ConversionOCF / Net Profit | — | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-22.7M | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $267.0K | ||
| Q3 25 | $3.1M | $6.9M | ||
| Q2 25 | $-5.7M | $3.9M | ||
| Q1 25 | $160.0K | $-150.0K | ||
| Q4 24 | $-12.6M | $-2.6M | ||
| Q3 24 | $-5.0M | $7.5M | ||
| Q2 24 | $-5.1M | $6.5M | ||
| Q1 24 | $-10.3M | $1.5M |
| Q4 25 | $-10.8M | $-17.4M | ||
| Q3 25 | $-1.0M | $1.8M | ||
| Q2 25 | $-9.3M | $1.6M | ||
| Q1 25 | $-1.7M | $-2.4M | ||
| Q4 24 | $-19.4M | $-3.8M | ||
| Q3 24 | $-9.5M | $5.9M | ||
| Q2 24 | $-10.5M | $5.1M | ||
| Q1 24 | $-13.9M | $-923.0K |
| Q4 25 | -24.9% | -31.5% | ||
| Q3 25 | -1.7% | 3.1% | ||
| Q2 25 | -17.7% | 3.0% | ||
| Q1 25 | -3.9% | -5.1% | ||
| Q4 24 | -41.2% | -8.2% | ||
| Q3 24 | -11.6% | 12.8% | ||
| Q2 24 | -15.8% | 10.4% | ||
| Q1 24 | -19.1% | -2.1% |
| Q4 25 | 38.2% | 31.9% | ||
| Q3 25 | 6.9% | 9.0% | ||
| Q2 25 | 6.7% | 4.3% | ||
| Q1 25 | 4.3% | 4.8% | ||
| Q4 24 | 14.4% | 2.7% | ||
| Q3 24 | 5.5% | 3.3% | ||
| Q2 24 | 8.1% | 2.9% | ||
| Q1 24 | 4.9% | 5.5% |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 1.96× | ||
| Q2 25 | — | 0.92× | ||
| Q1 25 | — | -0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.50× | ||
| Q2 24 | — | 1.73× | ||
| Q1 24 | — | 0.64× |
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% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
