MNTK · Montauk Renewables, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue | $176.38M | $175.74M | $174.90M | $213.39M | $100.38M |
| Cost of Revenue | - | - | - | - | - |
| Gross Profit | - | - | $45.28M | $65.73M | $25.06M |
| R&D | - | - | - | - | - |
| SG&A | $31.74M | $36.29M | $34.40M | $34.14M | $16.59M |
| Total Operating Expenses | $175.53M | $159.61M | $151.26M | $160.99M | $96.80M |
| D&A | $29.97M | $23.52M | $21.16M | $20.70M | $22.12M |
| Operating Income | $852.0K | $16.12M | $23.64M | $44.57M | $3.58M |
| Interest Expense | $4.82M | $5.28M | $5.75M | $1.79M | $4.34M |
| Income Tax | ($4.24M) | $2.44M | $3.42M | $8.05M | ($6.00M) |
| Net Income | $1.75M | $9.73M | $14.95M | $35.19M | $4.60M |
| EPS - Basic | $0.01 | $0.07 | $0.11 | $0.25 | ($0.03) |
| EPS - Diluted | $0.01 | $0.07 | $0.11 | $0.25 | ($0.03) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash & Equivalents | $23.75M | $45.62M | $73.81M | $105.18M | $9.79M |
| Accounts Receivable | $6.58M | $7.87M | $12.56M | $7.15M | $9.28M |
| Inventory | - | - | - | - | - |
| Accounts Payable | $15.64M | $8.86M | $7.92M | $4.56M | $4.97M |
| Current Assets | $37.16M | $57.22M | $90.17M | $124.87M | $75.17M |
| Total Assets | $435.46M | $349.01M | $350.24M | $332.32M | $243.61M |
| Current Liabilities | $33.42M | $33.53M | $29.35M | $28.40M | $24.56M |
| Long-term Debt | $126.00M | $43.76M | $55.61M | $63.51M | $71.39M |
| Total Liabilities | $172.31M | $91.60M | $100.00M | $105.22M | $104.19M |
| Stockholders' Equity | $263.15M | $257.42M | $250.24M | $227.09M | $154.26M |
| Retained Earnings | $57.10M | $55.35M | $45.61M | $30.67M | ($4.53M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | $30.33M | $43.80M | $41.05M | $81.07M | $28.68M |
| Investing Cash Flow | ($120.49M) | ($62.19M) | ($63.09M) | ($20.79M) | ($15.99M) |
| Financing Cash Flow | $68.34M | ($9.84M) | ($9.33M) | ($8.28M) | ($1.50M) |
| CapEx | $116.54M | $62.32M | $9.99M | $22.28M | $5.53M |
| Free Cash Flow | ($86.21M) | ($18.53M) | $31.07M | $58.79M | $23.15M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | - | - | 25.9% | 30.8% | 25.0% |
| Operating margin | 0.5% | 9.2% | 13.5% | 20.9% | 3.6% |
| EBITDA margin | 17.5% | 22.6% | 25.6% | 30.6% | 25.6% |
| Net margin | 1.0% | 5.5% | 8.5% | 16.5% | 4.6% |
| Free cash flow margin | -48.9% | -10.5% | 17.8% | 27.6% | 23.1% |
| FCF / Net income | -49.32 | -1.90 | 2.08 | 1.67 | 5.03 |
| R&D / Revenue | - | - | - | - | - |
| SG&A / Revenue | 18.0% | 20.6% | 19.7% | 16.0% | 16.5% |
| Effective tax rate | - | 20.1% | 18.6% | 18.6% | - |
| Return on assets | 0.4% | 2.8% | 4.3% | 10.6% | 1.9% |
| Return on equity | 0.7% | 3.8% | 6.0% | 15.5% | 3.0% |
| Return on invested capital | 0.2% | 4.3% | 6.3% | 12.5% | 1.3% |
| Liquidity | |||||
| Current ratio | 1.11 | 1.71 | 3.07 | 4.40 | 3.06 |
| Quick ratio | 1.11 | 1.71 | 3.07 | 4.40 | 3.06 |
| Cash ratio | 0.71 | 1.36 | 2.51 | 3.70 | 0.40 |
| Leverage | |||||
| Debt / Equity | 0.48 | 0.17 | 0.22 | 0.28 | 0.46 |
| Debt / Assets | 0.29 | 0.13 | 0.16 | 0.19 | 0.29 |
| Debt / EBITDA | 4.09 | 1.10 | 1.24 | 0.97 | 2.78 |
| Interest coverage | 0.2x | 3.1x | 4.1x | 24.9x | 0.8x |
| Equity multiplier | 1.65 | 1.36 | 1.40 | 1.46 | 1.58 |
| Liabilities / Assets | 0.40 | 0.26 | 0.29 | 0.32 | 0.43 |
| Efficiency | |||||
| Asset turnover | 0.41 | 0.50 | 0.50 | 0.64 | 0.41 |
| Inventory turnover | - | - | - | - | - |
| Days sales outstanding | 14d | 16d | 26d | 12d | 34d |
| Days inventory outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - |
| Valuation | |||||
| P / E | 167.0x | 56.9x | 81.0x | 44.1x | - |
| P / B | 0.9x | 2.2x | 5.1x | 6.9x | 9.4x |
| P / S | 1.4x | 3.2x | 7.2x | 7.4x | 14.4x |
| EV / EBITDA | 11.1x | 14.3x | 27.9x | 23.5x | 58.6x |
| Growth | |||||
| Revenue growth (YoY) | 0.4% | 0.5% | -18.0% | 112.6% | - |
| Revenue CAGR (3y) | -6.2% | 20.5% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | -31.1% | 162.3% | - |
| Operating income growth (YoY) | -94.7% | -31.8% | -47.0% | 1144.5% | - |
| Net income growth (YoY) | -82.0% | -34.9% | -57.5% | 664.6% | - |
| EPS growth (YoY) | -85.7% | -36.4% | -56.0% | - | - |
| EPS CAGR (3y) | -65.8% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - |
| FCF growth (YoY) | -365.3% | - | -47.2% | 153.9% | - |
| FCF CAGR (5y) | - | - | - | - | - |
| Book value growth (YoY) | 2.2% | 2.9% | 10.2% | 47.2% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$172.97M totalRenewable Natural Gas$155.74M · 90.0%
Renewable Electricity Generation$17.23M · 10.0%
Product / service
$176.38M totalNatural Gas Environmental Attributes$110.06M · 62.4%
Natural Gas Commodity$48.53M · 27.5%
Electric Commodity$10.33M · 5.9%
Electric Environmental Attributes$7.47M · 4.2%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.17
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Gas & Other Services Combined
Comparing Montauk Renewables against the 5 most active filers in the same SIC group.