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Strong institutional accumulation: ownership increased +11.26% quarter-over-quarter.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $34K 100.0% | $11.8M 100.0% | $39.5M 100.0% | $7.8M 100.0% | $1.1M 100.0% | $24.5M 100.0% | $31.5M 100.0% | $20.8M 100.0% | $7.6M 100.0% |
| Cost of Revenue | — | — | — | $21.7M 54.9% | $7.1M 91.4% | $3.7M 353.8% | $26.1M 106.6% | $25.0M 79.3% | $1.6M 7.6% | — |
| Selling, General & Admin | $9.6M | $11.4M 33511.0% | $10.7M 90.3% | $4.0M 10.2% | $3.9M 50.1% | $2.5M 234.7% | $5.1M 20.9% | $6.2M 19.6% | -$1.4M -6.6% | -$238K -3.1% |
| Total Operating Expenses | $11.3M | $14.3M 41834.7% | $48.2M 407.7% | $59.0M 149.4% | $36.1M 465.3% | $17.5M 1652.1% | -$84.4M -344.9% | -$43.0M -136.5% | -$33.4M -160.4% | -$29.5M -387.5% |
| Operating Income | -$11.3M | -$14.2M -41734.7% | -$36.4M -307.7% | -$19.5M -49.4% | -$28.3M -365.3% | -$16.4M -1552.1% | -$60.0M -244.9% | -$11.5M -36.5% | -$12.6M -60.4% | -$21.9M -287.5% |
| Interest Expense | — | $8.0M 23544.1% | $2.0M 16.8% | $1.4M 3.6% | $4.2M 53.6% | $3.4M 319.3% | $2.9M 11.9% | -$1.3M -4.1% | $559K 2.7% | $284K 3.7% |
| Interest & Investment Income | $578K | $79K 231.3% | $30K 0.3% | $31K 0.1% | — | — | — | — | — | — |
| Other Income (Expense), net | -$6.5M | -$1.7M -5113.4% | -$2.3M -19.9% | $312K 0.8% | -$233K -3.0% | $21K 1.9% | -$84.4M -344.9% | -$43.0M -136.5% | — | — |
| Pretax Income | -$17.8M | -$16.0M -46848.1% | -$563K -4.8% | — | — | — | — | — | — | — |
| Income Tax Expense | $0 | $0 0.0% | — | — | — | — | — | — | — | — |
| Net Income | $55.4M | -$39.2M -115068.9% | -$38.5M -325.9% | -$1.4M -3.7% | -$32.5M -419.1% | -$10.3M -967.8% | -$70.9M -289.7% | -$12.8M -40.5% | -$12.6M -60.5% | -$22.1M -290.6% |
| Per Share | ||||||||||
| EPS (Diluted) | $0.63 | $-0.51 | $-0.51 | — | — | — | — | — | — | — |
| Weighted Avg Shares (Basic) | — | — | 75.4M | 66.8M | — | — | — | — | — | — |
| Weighted Avg Shares (Diluted) | 87.3M | 77.2M | 75.1M | — | — | — | — | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/6 of the 9 checks — 3 couldn't be scored (see above), so the score is out of the 6 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 58%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~386.1% on $2M of debt. Interest last disclosed in FY2024 (no longer broken out).
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
Nothing notable to watch.
No material risks flagged.
Where each multiple sits in its own 9-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 9-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 79.3 | 106.6 | 353.8 | 91.4 | 54.9 | — | — | — |
| SG&A | 19.6 | 20.9 | 234.7 | 50.1 | 10.2 | 90.3 | 33511.0 | — |
| Operating Income | -36.5 | -244.9 | -1552.1 | -365.3 | -49.4 | -307.7 | -41734.7 | — |
| Income Tax | — | — | — | — | — | — | 0.0 | — |
| Net Income | -40.5 | -289.7 | -967.8 | -419.1 | -3.7 | -325.9 | -115068.9 | — |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AREC: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 238 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XOM | $682.3B | 24.4× | — | 2.0× | -5.0% | — | 8.7% | 11.1% | 10.7% | — | 4,568 |
| SHEL | $545.2B | — | — | — | — | — | — | — | — | — | 1,521 |
| CVX | $391.2B | 31.9× | — | 2.1× | -6.8% | 42.8% | 6.5% | 6.6% | 6.6% | — | 4,121 |
| TTE | $202.1B | — | — | — | — | — | — | — | — | — | 951 |
| COP | $166.8B | 21.0× | — | 2.8× | 7.7% | 62.1% | 13.6% | 12.4% | 12.2% | — | 2,450 |
| PBR | $155.8B | — | — | — | — | — | — | — | — | — | 524 |
| MPC | $128.7B | 31.9× | 11.0× | 1.0× | -4.4% | 10.0% | 3.0% | 23.4% | 20.6% | 0.2× | 1,802 |
| VLO | $127.5B | 54.5× | 24.1× | 1.0× | -5.5% | 4.4% | 1.9% | 9.9% | 7.1% | 1.7× | 1,781 |
| BP | $117.0B | — | — | — | — | — | — | — | — | — | 1,220 |
| PSX | $111.3B | 25.4× | — | 0.8× | -7.5% | 12.3% | 3.3% | 15.1% | 14.6% | — | 2,041 |
| EQNR | $110.8B | — | — | — | — | — | — | — | — | — | 398 |
| WMB | $87.7B | 33.6× | 17.8× | 7.3× | 13.8% | — | 21.9% | 20.4% | 6.3% | 4.4× | 1,736 |
| EPD | $84.1B | — | 12.6× | 1.6× | -6.4% | 26.7% | 11.0% | — | — | 3.7× | 1,573 |
| EOG | $79.0B | 15.9× | 7.7× | 3.5× | -4.5% | — | 22.0% | 16.7% | 13.2% | 0.7× | 1,525 |
| SLB | $77.9B | 22.2× | — | 2.2× | -1.6% | — | 9.4% | 12.9% | 9.4% | — | 1,624 |
| ET | $72.5B | — | 9.8× | 0.8× | 3.5% | 25.8% | 5.2% | 9.0% | 3.8% | 4.8× | 1,244 |
| KMI | $69.7B | 22.9× | 14.2× | 4.1× | 12.2% | — | 18.0% | 9.8% | 4.8% | 4.5× | 1,745 |
| TRGP | $61.2B | 33.6× | 16.2× | 3.6× | 3.9% | 38.3% | 11.3% | 62.7% | 9.4% | 3.6× | 979 |
| TS | $60.6B | — | — | — | — | — | — | — | — | — | 248 |
| MPLX | $59.4B | — | — | 4.6× | 8.9% | — | 38.1% | — | — | — | 622 |
| LNG | $59.3B | 11.2× | 7.8× | 3.0× | 27.2% | — | 26.7% | 67.3% | 17.3% | 2.2× | 1,303 |
| OKE | $58.7B | 17.2× | 12.4× | 1.8× | 55.0% | 30.5% | 10.1% | 15.1% | 6.3% | 4.4× | 1,622 |
| OXY | $58.5B | 36.8× | — | 2.7× | -1.9% | — | 11.0% | 6.6% | 4.2% | — | 1,250 |
| BKR | $56.2B | — | — | 2.0× | -0.3% | — | 9.3% | 13.7% | 13.3% | — | 1,095 |
| FANG | $56.0B | 34.4× | 11.2× | 3.7× | 35.8% | — | 11.1% | 4.5% | 3.2% | 2.3× | 1,141 |
| AREC | $214M | 3.2× | — | — | -100% | — | — | 58.4% | 57.8% | -0.1× | 89 |
Peers = companies sharing AREC's sector (Energy) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.