# REX American Resources Corporation (REX)

> Source: Nexqual · https://nexqual.com/REX · data as of 2026-10-23 18:12 UTC · cite as "Nexqual, REX American Resources Corporation (REX), nexqual.com/REX" · informational, not investment advice.

**Price:** USD 39.65 (-0.43% today) · US market open, as of October 23, 2026 at 18:12 UTC; quotes may be delayed. Prev close 39.82 · day 39.43–40.09 · 52w 31–53.36 · market cap $1.32B · NYQ

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $659M, net income $137M (20.9% margin), free cash flow $68.6M (SEC filings).
- Valuation: P/E 9.6x (avg 11.3x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 7 Form 4 filings, $6.8M; 7 not under a Rule 10b5-1 plan ($6.8M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: None.
- Total return with dividends: 1Y +24.5% vs S&P 500 +14.5%; 5Y +170.5% vs S&P 500 +77.1%.
- Next earnings: 2026-12-03, EPS estimate USD —, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $775M | $855M | $833M | $642M | $650M | $659M |
| Gross profit | $90.6M | $48.6M | $98.2M | $91.5M | $93.7M | — |
| Net income | $52.4M | $27.7M | $60.9M | $71.5M | $95.1M | $137M |
| EPS (diluted) | $1.46 | $0.79 | $1.73 | $1.65 | $2.50 | — |
| Free cash flow | $86.6M | $39.2M | $90.3M | -$7.1M | $49.4M | $68.6M |
| Gross margin | 11.7% | 5.7% | 11.8% | 14.2% | 14.4% | — |
| Net margin | 6.8% | 3.2% | 7.3% | 11.1% | 14.6% | 20.9% |
| Revenue growth | +107.9% | +10.4% | -2.5% | -22.9% | +1.2% | — |
| Cash + short-term investments | $256M | $281M | $379M | $359M | $376M | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/E 9.6x · P/S 2.0x · P/FCF 19.2x · P/B 1.9x · FCF yield 5.21% · Earnings yield 10.45% · Buyback yield (TTM) 0.12%
P/E at fiscal year-ends: Jan 2026 11.8x, Jan 2025 10.3x, Jan 2024 11.9x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-30 | Rose Stuart A | Executive COB | 50,000 | $2.1M | 1.7% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-18 | Rose Stuart A | Executive COB | 15,186 | $663K | 0.5% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-17 | Rose Stuart A | Executive COB | 69,335 | $3.0M | 2.3% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-11 | Rose Stuart A | Executive COB | 766 | $34K | 0% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-10 | Rose Stuart A | Executive COB | 1,129 | $50K | 0% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-08 | Rose Stuart A | Executive COB | 13,584 | $614K | 0.5% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-02 | Bruggeman Douglas | CFO, VP-Finance, Treasurer | 5,086 | $248K | 2% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +24.5% | +170.5% |
| S&P 500 (SPY) | +14.5% | +77.1% |
| Per year | +24.5% | +22.0% |
| Volatility (annualized) | 32.3% | 38.1% |
| Max drawdown | -22.5% (May 2026→Oct 2026) | -39.0% (May 2024→Mar 2025) |

## Peers (Chemicals)
HUN (Huntsman Corporation) USD 8.86 +1.61% · GPRE (Green Plains, Inc.) USD 14.04 +0.93% · OLN (Olin Corporation) USD 15.71 +1.06% · WLKP (Westlake Chemical Partners LP) USD 21.19 +1.10% · LXU (LSB Industries, Inc.) USD 10 +2.46% · BAK (Braskem SA) USD 1.66 +3.62%

## More
Full page: https://nexqual.com/REX · 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

## Revenue by business segment (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Ethanol & By Products | $501.8M | 297.8% | +29.2% |
| Total revenue | $168.5M | 100% | — |
The lines above cover 297.8% of total revenue.

## Revenue by product line (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Ethanol | $125.8M | 74.6% | +2.0% |
| Dried Distillers Grains | $24.2M | 14.3% | +13.7% |
| Distillers Corn Oil | $17.6M | 10.4% | +40.6% |
| Modified Distillers Grains | $811,000 | 0.5% | -35.2% |
| Other | $91,000 | 0.1% | +203.3% |
| Derivative Financial Instrument Gains Losses | $62,000 | 0.0% | -69.2% |
| Total revenue | $168.5M | 100% | — |

## Customer concentration

Period ended 2026-01-31: 93% of revenue from unnamed direct customers (10-K, filed 2026-03-30).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter (ends 2025-10-31) | — | — | — | $0 | — |
| Current fiscal year (ends 2026-01-31) | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-02-19 (includes earnings 2026-12-03): ±19.0%; last 8 reports averaged ±5.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 47.5% | ±10.7% |
| 2027-02-19 | 119 | 41.1% | ±19.0% |
| 2027-05-21 | 210 | 39.5% | ±24.2% |