# Gevo, Inc. (GEVO)

> Source: Nexqual · https://nexqual.com/GEVO · data as of 2026-10-23 17:47 UTC · cite as "Nexqual, Gevo, Inc. (GEVO), nexqual.com/GEVO" · informational, not investment advice.

**Price:** USD 1.15 (+0.88% today) · US market open, as of October 23, 2026 at 17:47 UTC; quotes may be delayed. Prev close 1.14 · day 1.12–1.16 · 52w 1.09–2.97 · market cap $284M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $178M, net income -$213M (-119.9% margin), free cash flow -$56.7M (SEC filings).
- Total return with dividends: 1Y -52.3% vs S&P 500 +14.4%; 5Y -84.1% vs S&P 500 +77.1%.
- Next earnings: 2026-11-09, EPS estimate USD 0.04, revenue estimate $54.5M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $711K | $1.2M | $17.2M | $16.9M | $161M | $178M |
| Gross profit | -$11.5M | — | — | — | — | — |
| Operating income | -$60.3M | -$103M | -$81.8M | -$90.8M | -$20.2M | -$182M |
| Net income | -$59.2M | -$98.0M | -$66.2M | -$78.6M | -$33.8M | -$213M |
| EPS (diluted) | -$0.30 | -$0.44 | -$0.28 | -$0.34 | -$0.14 | — |
| Free cash flow | -$105M | -$128M | -$108M | -$108M | -$43.5M | -$56.7M |
| Gross margin | -1611.0% | — | — | — | — | — |
| Operating margin | -8476.5% | -8739.2% | -475.8% | -536.9% | -12.6% | -102.8% |
| Net margin | -8326.7% | -8341.0% | -385.0% | -464.9% | -21.1% | -119.9% |
| Revenue growth | -87.2% | +65.3% | +1363.8% | -1.7% | +849.3% | — |
| Cash + short-term investments | $316M | $405M | — | — | $81.2M | — |
| Total debt | $67.0M | $67.5M | $68.1M | $67.1M | $165M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.6x · EV/Sales 2.2x · P/B 1.0x · FCF yield -19.92% · Earnings yield -74.88% · Net debt $109M · EV $393M

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -52.3% | -84.1% |
| S&P 500 (SPY) | +14.4% | +77.1% |
| Per year | -52.3% | -30.8% |
| Volatility (annualized) | 61.9% | 82.3% |
| Max drawdown | -60.1% (Mar 2026→Oct 2026) | -92.9% (Nov 2021→Jul 2024) |

## Peers (Specialty Chemicals)
BCPC (Balchem Corporation) USD 175.39 +1.25% · SXT (Sensient Technologies Corporati) USD 131.98 +0.79% · EMN (Eastman Chemical Company) USD 64.81 -0.77% · AXTA (Axalta Coating Systems Ltd.) USD 34.33 -2.05% · NEU (NewMarket Corp) USD 872.1 -0.48% · ESI (Element Solutions Inc.) USD 33.1 -0.03%

## More
Full page: https://nexqual.com/GEVO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in GEVO's own 10-K filed 2026-03-05 (https://www.sec.gov/Archives/edgar/data/1392380/000139238026000006/gevo-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | LG Chem | "In April 2023, we entered into a joint development agreement with LG Chem, Ltd. ("LG Chem"), a leading global chemical company, to develop bio-propylene for renewable chemicals using our Ethanol-to-Olefins ("ETO") techno…" |
| Partner | Axens North America | "We collaborate with a select group of technology, engineering, and equipment partners, most notably Fluid Quip Technologies ("FQT"), Axens North America, Inc. ("Axens"), and PRAJ Industries Limited ("Praj")." |
| Partner | PRAJ Industries | "We collaborate with a select group of technology, engineering, and equipment partners, most notably Fluid Quip Technologies ("FQT"), Axens North America, Inc. ("Axens"), and PRAJ Industries Limited ("Praj")." |
| Partner | BP Canada Energy Marketing | "We sell our RNG to the California market through an agreement with BP Canada Energy Marketing Corp. and BP Products North America Inc. (collectively, "BP")." |
| Partner | BP Products North America | "We sell our RNG to the California market through an agreement with BP Canada Energy Marketing Corp. and BP Products North America Inc. (collectively, "BP")." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Gevo North Dakota | $40.5M | 87.2% | +9.0% | $19.0M | 46.8% |
| Renewable Natural Gas | $4.4M | 9.6% | +3.9% | $1.2M | 26.6% |
| Gevo | $1.5M | 3.3% | -21.8% | -$17.2M | -1127.8% |
| Total revenue | $46.5M | 100% | — | -$171.7M | -369.3% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Ethanol | $29.5M | 63.4% | +3.5% |
| Ethanol related products | $9.7M | 20.9% | +11.9% |
| Environmental attributes | $5.6M | 12.0% | +37.0% |
| Other | $1.5M | 3.3% | -21.6% |
| RNG Revenue | $209,000 | 0.4% | -7.1% |
| Total revenue | $46.5M | 100% | — |

## Customer concentration

Period ended 2025-12-31: 80% of revenue from unnamed direct customers (10-K, filed 2026-03-05).

## Company outlook (8-K filed 2026-08-06)

- "EX-99.1 2 gevo_q2x2026-ex991.htm EX-99.1 Document Exhibit 99.1 Gevo Reports Second Quarter Results and Raises Financial Expectations for Full-Year 2026 ENGLEWOOD, Colo. – August 6, 2026 – Gevo, Inc."
- "The improved outlook is supported by: ◦ Canada Clean Fuel Regulation Pathway: Approval of the Company's new Canada CFR pathway in the second quarter of 2026 creates a large, additional compliance market opportunity for Gevo's low-carbon ethanol, including recognition of credits associated with qualifying volumes previously delivered into that market."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.04 | $-0.02 | -266.0% | $54.5M | 2 |
| Next quarter (ends 2026-12-31) | $0.01 | $-0.03 | -137.2% | $51.0M | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.44 | $-0.17 | +154.9% | $194.9M | 4 |
| Next fiscal year (ends 2027-12-31) | $-0.02 | $-0.11 | -83.6% | $206.0M | 4 |