ADAMS NATURAL RESOURCES FUND, INC. (PEO)
Adams Natural Resources Fund, Inc. is a publicly owned investment manager. The firm invests in the public equity markets across the globe. The firm manages closed-end equity fund focused on the energy and material sectors. It invests in stocks of companies of all market capitalizations operating in the energy and natural resources sector including oil companies, exploration and production, utilities, services, and basic materials sectors. The firm employs a fundamental analysis with a bottom-up stock picking approach while focusing on earnings growth prospects, defendable market position, market competition, macroeconomic backdrop, cash flow generation, valuation, capital allocation, return on capital, mileposts and catalysts, and point in cycle identification to make its investments. It benchmarks the performance of its portfolios against a composite index of 80% Dow Jones Oil and Gas Index and 20% Dow Jones Basic Materials Index. The firm was formerly known as Petroleum & Resources Corporation. Adams Natural Resources Fund, Inc. was founded in 1929 and is based in Baltimore, Maryland with an additional office in Boston, Massachusetts.
Industry: Asset Management
Adams Natural Resources Fund, Inc.
NYSE:PEOFinancial Services · Asset Management
+3.92%$30.77
AH Close$30.77+0.00%vs close
AH Close$30.77+0.00%vs close
Mkt Cap$846.04M
Float23.46M
O/S27.5M
Inst Own39.9%
Div Yield6.63%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$62.15M
Net Income$54.76M
Total Assets$674M
Free Cash Flow$0
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$662.42M
Shares Outstanding
Short Interest
Split History1 split
- 1.0:1Forward splitNov 22, 20241 share → 1.0
Balance Sheet Details
Assets$674M
Liabilities$11.58M
Accounts Receivable$0
Accounts Payable$8.21M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 | 1996-12-31 |
| Revenue | $62.15M | $34.82M | $21.21M | $208.61M | $157.92M | -$136.6M | $70.93M | $17.43M | $18.56M | $16.65M | $18.97M | $19.03M | $17.86M | $17.2M | $14.6M | $12.61M | $12.17M | $14.09M | $14.98M | $14.68M | $15.61M | $12.08M | $11.59M | $11.36M | $12.2M | $11.29M | $12.08M | $12.65M | $12.51M | $12.79M |
| YoY Growth | 78.5% | 64.2% | -89.8% | 32.1% | -215.6% | -292.6% | 307.0% | -6.1% | 11.5% | -12.2% | -0.3% | 6.6% | 3.9% | 17.8% | 15.8% | 3.6% | -13.6% | -5.9% | 2.0% | -6.0% | 29.2% | 4.2% | 2.0% | -6.9% | 8.1% | -6.5% | -4.5% | 1.1% | -2.2% | - |
| Cost of Revenue | $497K | $0 | $0 | $453K | $392K | $573K | $463K | $0 | $695K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $61.65M | $34.82M | $21.21M | $208.16M | $157.53M | -$137.17M | $70.47M | $17.43M | $17.86M | $16.65M | $18.97M | $19.03M | $17.86M | $17.2M | $14.6M | $12.61M | $12.17M | $14.09M | $14.98M | $14.68M | $15.61M | $12.08M | $11.59M | $11.36M | $12.2M | $11.29M | $12.08M | $12.65M | $12.51M | $12.79M |
| Gross Margin | 99.2% | 100.0% | 100.0% | 99.8% | 99.8% | 100.4% | 99.3% | 100.0% | 96.3% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $5 | $5 | -$7 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $3.43M | $1.77M | $4.12M | $1.39M | $1.38M | $2.04M | $1.85M | $5.13M | $2.14M | $5.11M | $5.8M | $5.56M | $6.27M | $4.84M | $3.77M | $3.61M | $4.94M | $3.84M | $4.36M | $4.31M | $3.8M | $2.73M | $3.13M | $2.07M | $1.78M | $3.35M | $1.99M | $1.28M | $2.16M | $2.39M |
| Other | $3.46M | $2.2M | $0 | $1.73M | $2.19M | $3.37M | $3.42M | $0 | $2.72M | $443K | $464K | $506K | -$480K | $480K | $1.48M | $350K | -$1.8M | $600K | $550K | $520K | $420K | $430K | $330K | $300K | $320K | $270K | $280K | $310K | $320K | $350K |
| Total Operating Expenses | $6.89M | $3.97M | $4.12M | $3.12M | $3.56M | $5.4M | $5.27M | $5.13M | $4.85M | $108.8M | $167.43M | $91.57M | $149.45M | $7.57M | $5.25M | $3.96M | $3.14M | $4.44M | $4.91M | $4.83M | $4.22M | $3.16M | $3.46M | $2.37M | $2.1M | $3.62M | $2.27M | $1.59M | $2.48M | $2.74M |
| Operating Income (EBIT) | $54.76M | $30.85M | $17.09M | $205.49M | $154.35M | -$142M | $65.66M | $12.29M | $13.7M | $11.54M | $13.16M | $13.47M | $11.59M | $12.36M | $9.36M | $8.66M | $9.03M | $9.65M | $10.07M | $9.84M | $11.39M | $8.93M | $8.14M | $8.98M | $10.1M | $7.67M | $9.81M | $11.06M | $10.03M | $10.05M |
| Operating Margin | 88.1% | 88.6% | 80.6% | 98.5% | 97.7% | 104.0% | 92.6% | 70.5% | 73.8% | 69.3% | 69.4% | 70.8% | 64.9% | 71.9% | 64.1% | 68.7% | 74.2% | 68.5% | 67.2% | 67.0% | 73.0% | 73.9% | 70.2% | 79.0% | 82.8% | 67.9% | 81.2% | 87.4% | 80.2% | 78.6% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $113.91M | $0 | $0 | $155.72M | $12.4M | -$10.52M | $121.25M | $126.92M | -$397.58M | $227.2M | $103.29M | $179.63M | $109.33M | $83.51M | -$67.68M | -$142.04M | $162.01M | $98.23M | -$74.63M | $78.82M | $89.32M |
| Interest Income | $20.29M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $216K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $0 | $0 | -$7.4M | $0 | $0 | -$142M | $0 | -$138.34M | $0 | $113.91M | -$161.63M | -$86.01M | $155.72M | $12.4M | -$10.52M | $121.25M | $126.92M | -$399.2M | $227.11M | $103.29M | $179.63M | $109.32M | $83.51M | -$67.68M | -$142.04M | $162.01M | $98.23M | -$74.63M | $78.81M | $89.32M |
| Income Before Tax (EBT) | $54.76M | $30.85M | $9.69M | $205.49M | $154.35M | -$142M | $65.66M | -$126.04M | $13.7M | $125.44M | -$148.47M | -$72.54M | $167.31M | $24.76M | -$1.16M | $129.91M | $135.95M | -$389.55M | $237.18M | $113.13M | $191.02M | $118.25M | $91.65M | -$58.7M | -$131.94M | $169.68M | $108.04M | -$63.57M | $88.84M | $99.37M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21.04M | -$242.5M | -$253.84M | $796.78M | -$454.31M | -$206.58M | -$359.26M | -$218.65M | -$167.02M | $135.36M | $284.08M | -$324.02M | -$196.46M | $149.26M | -$157.63M | -$178.64M |
| Net Income | $54.76M | $30.85M | $9.69M | $205.49M | $154.35M | -$142M | $65.66M | -$126.04M | $13.7M | $125.44M | -$148.47M | -$72.54M | $167.31M | $24.76M | -$22.2M | $372.41M | $389.79M | -$1.19B | $691.49M | $319.71M | $550.28M | $336.9M | $258.67M | -$194.06M | -$416.02M | $493.7M | $304.5M | -$212.83M | $246.47M | $278.01M |
| Net Income Margin | 88.1% | 88.6% | 45.7% | 98.5% | 97.7% | 104.0% | 92.6% | -723.3% | 73.8% | 753.6% | -782.8% | -381.2% | 936.8% | 144.0% | -152.1% | 2953.3% | 3202.9% | -8419.7% | 4616.1% | 2177.9% | 3525.2% | 2788.9% | 2231.8% | -1708.3% | -3410.0% | 4372.9% | 2520.7% | -1682.5% | 1970.2% | 2173.7% |
| Supplementary Data | ||||||||||||||||||||||||||||||
| EPS | 2.03 | 1.17 | 0.40 | 8.37 | 6.30 | -5.89 | 2.21 | -4.27 | 0.48 | 4.39 | -5.28 | -2.65 | 6.25 | 0.94 | -0.87 | 15.02 | 16.02 | -49.51 | 30.37 | 14.41 | 25.45 | 15.33 | 11.90 | -9.02 | -19.67 | 23.45 | 14.18 | -10.25 | 12.24 | 14.18 |
| Diluted EPS | 2.03 | 1.17 | 0.38 | 8.37 | 6.30 | -5.89 | 2.21 | -4.27 | 0.48 | 4.39 | -5.28 | -2.65 | 6.25 | 0.94 | -0.87 | 15.02 | 16.02 | -49.51 | 30.37 | 14.41 | 25.45 | 15.33 | 11.90 | -9.02 | -19.67 | 23.45 | 14.18 | -10.25 | 12.24 | 14.18 |
| Weighted Average OS | 26.98M | 26.28M | 24.23M | 24.55M | 24.48M | 24.12M | 29.71M | 29.53M | 28.55M | 28.56M | 28.10M | 27.38M | 26.78M | 26.33M | 25.64M | 24.79M | 24.33M | 23.96M | 22.77M | 22.18M | 21.62M | 21.98M | 21.74M | 21.51M | 21.15M | 21.05M | 21.47M | 20.76M | 20.13M | 19.60M |
| EBITDA | $54.76M | $30.85M | $9.69M | $205.49M | $154.35M | -$142M | $65.66M | $12.29M | $13.7M | $239.35M | -$307.19M | -$158.54M | $323.03M | $37.16M | -$11.68M | $251.16M | $262.87M | -$787.13M | $464.38M | $216.42M | $370.65M | $227.58M | $175.16M | -$126.38M | -$273.98M | $331.69M | $206.27M | -$138.2M | $167.66M | $188.69M |
| EBITDA Margin | 88.1% | 88.6% | 45.7% | 98.5% | 97.7% | 104.0% | 92.6% | 70.5% | 73.8% | 1437.9% | -1619.8% | -833.1% | 1808.8% | 216.1% | -80.0% | 1991.8% | 2160.0% | -5586.4% | 3100.0% | 1474.3% | 2374.4% | 1883.9% | 1511.3% | -1112.5% | -2245.7% | 2937.9% | 1707.5% | -1092.5% | 1340.2% | 1475.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 | 1996-12-31 |
| Assets | ||||||||||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $150K | $102K | $146K | $151K | $150K | $339K | $540K | $934K | $134K | $271K | $563K | $351K | $241K | $151K | $200K | $200K | $500K | $300K | $300K | $400K | $300K | $200K | $400K | $100K | $0 | $0 | $0 | $100K | $100K | $100K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $150K | $102K | $146K | $151K | $150K | $339K | $540K | $934K | $134K | $271K | $563K | $351K | $241K | $151K | $200K | $200K | $500K | $300K | $300K | $400K | $300K | $200K | $400K | $100K | $0 | $0 | $0 | $100K | $100K | $100K |
| Accounts Receivable | $0 | $5.72M | $16.4M | $5.08M | $338K | $3.39M | $12.93M | $9.13M | $668K | $905K | $12.49M | $894K | $739K | $283K | $13.6M | $3.4M | $700K | $500K | $600K | $700K | $800K | $700K | $600K | $2M | $1.5M | $600K | $3.8M | $800K | $1.1M | $1M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8.49M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $1.41M | $0 | $0 | -$5.08M | -$1.09M | $2.52M | $661K | $445K | $284K | $3.67M | $9.81M | $5.32M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $150K | $5.82M | $17.96M | $6.82M | $2.21M | $0 | $13.47M | $10.06M | $801K | $1.62M | $13.34M | $4.91M | $10.79M | $5.75M | $13.8M | $3.6M | $1.2M | $800K | $900K | $1.1M | $1.1M | $900K | $1M | $2.1M | $1.5M | $600K | $3.8M | $900K | $1.2M | $1.1M |
| Long-Term Assets | ||||||||||||||||||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $369K | $637.77M | $635.79M | $652.36M | $474.36M | $334.67M | $561.63M | $524.95M | $675.42M | $686.5M | $582.88M | $735.46M | $820.65M | $734.46M | $736M | $761M | $687.1M | $619.1M | $1.02B | $857.6M | $768M | $647.8M | $545.9M | $496.1M | $543.7M | $771.1M | $607.8M | $495M | $556.1M | $484.4M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $673.48M | $0 | $0 | $0 | $0 | $0 | $0 | -$524.95M | -$675.42M | $0 | $0 | $19.48M | $44.37M | -$734.46M | -$736M | -$761M | -$687.1M | -$619.1M | -$1.02B | -$857.6M | -$768M | -$647.8M | -$545.9M | -$496.1M | -$543.7M | -$771.1M | -$607.8M | -$495M | -$556.1M | -$484.4M |
| Total Long-Term Assets | $673.85M | $637.77M | $635.79M | $652.36M | $474.36M | $334.67M | $561.63M | $524.95M | $675.42M | $686.5M | $582.88M | $754.94M | $865.02M | $734.46M | $736M | $761M | $687.1M | $619.1M | $1.02B | $857.6M | $768M | $647.8M | $545.9M | $496.1M | $543.7M | $771.1M | $607.8M | $495M | $556.1M | $484.4M |
| Other Assets | $0 | $1.65M | $1.41M | $1.59M | $1.72M | $339.75M | $1.09M | $885K | $661K | $0 | $0 | $0 | $0 | $0 | $700K | $300K | $500K | $400K | $600K | $500K | $1.5M | $1.5M | $1.1M | $1.9M | $2.2M | $2M | $1.8M | $1.5M | $1.2M | $1.1M |
| Total Assets | $674M | $645.24M | $653.75M | $659.17M | $476.57M | $339.75M | $576.19M | $535.9M | $676.88M | $688.12M | $596.22M | $759.85M | $875.81M | $740.21M | $750.5M | $764.9M | $688.8M | $620.3M | $1.02B | $859.2M | $770.6M | $650.2M | $548M | $500.1M | $547.4M | $773.7M | $613.4M | $497.4M | $558.5M | $486.6M |
| Liabilities | ||||||||||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||||||||||
| Accounts Payable | $8.21M | $5.84M | $17.57M | $4.86M | $2.83M | $4.02M | $11.16M | $9.4M | $0 | $0 | $11.47M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | -$1.77M | -$11M | $0 | $2.12M | $2.07M | $3.86M | $10.73M | $5.57M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Liabilities | $9.47M | $5.84M | $17.57M | $4.86M | $2.83M | $4.02M | $11.16M | $9.4M | $2.37M | $2.12M | $13.54M | $3.86M | $10.73M | $5.57M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Liabilities | ||||||||||||||||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $2.12M | $1.17M | $1.1M | $1.06M | $1.19M | $1.88M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17.7M | $3.2M | $38.1M | $81.4M | $41.7M | $47.2M | $8.7M | $31.3M | $25.1M | $48.8M | $20.9M | $85.5M | $48.3M | $22.6M | $0 | $2M |
| Total Long-Term Liabilities | $2.12M | $1.17M | $1.1M | $1.06M | $1.19M | $1.88M | $11.16M | $9.4M | $2.49M | $0 | $13.54M | $0 | $12.1M | $7.2M | $17.7M | $3.2M | $38.1M | $81.4M | $41.7M | $47.2M | $8.7M | $31.3M | $25.1M | $48.8M | $20.9M | $85.5M | $48.3M | $22.6M | $0 | $2M |
| Other Liabilities | $0 | $1.9M | $0 | -$1.88M | $331K | -$7.81M | -$7.61M | -$5.9M | -$2.37M | $0 | -$13.54M | $0 | -$12.1M | -$5.55M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2M | $0 |
| Total Liabilities | $11.58M | $8.9M | $20.3M | $7.84M | $5.98M | $7.81M | $14.72M | $12.9M | $2.49M | $2.12M | $13.54M | $3.86M | $10.73M | $7.22M | $17.7M | $3.2M | $38.1M | $81.4M | $41.7M | $47.2M | $8.7M | $31.3M | $25.1M | $48.8M | $20.9M | $85.5M | $48.3M | $22.6M | $2M | $2M |
| Stockholders' Equity | ||||||||||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $28K | $26K | $26K | $25K | $24K | $24K | $30K | $30K | $29K | $29K | $28K | $27K | $27K | $26K | $0 | $0 | $0 | $0 | $0 | $0 | $21.6M | $22M | $21.7M | $21.5M | $21.1M | $21.1M | $14.3M | $13.8M | $13.4M | $13.1M |
| Retained Earnings | $150.71M | $150.73M | $165.2M | $189.27M | $23.67M | -$108.78M | $52.11M | $18.89M | $361K | $189.3M | $95.75M | $281.95M | $404.9M | $286.86M | $900K | $200K | -$200K | $1.7M | $1.3M | $2.1M | $2.2M | $2.5M | $3.3M | $3.3M | $3.1M | $1.6M | $2.3M | $156.9M | $251.2M | $192.8M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18.89M | $169.06M | $188.27M | $0 | -$1.43M | -$1.04M | $282.3M | $300.3M | $350.9M | $252.3M | $147.8M | $604.8M | $460.4M | $428.6M | $0 | $185.1M | $118.8M | $200.8M | $365.1M | $230.5M | $0 | $0 | $0 |
| Other Stockholders' Equity | $511.68M | $485.58M | $468.23M | $462.04M | $446.9M | $440.7M | $509.33M | $504.08M | $674M | $496.56M | $486.9M | $472.53M | $458.77M | $446.1M | $731.9M | $761.5M | $650.9M | $537.2M | $977.6M | $809.9M | $738.1M | $594.4M | $497.9M | $426.5M | $502.3M | $665.5M | $548.5M | $304.1M | $291.9M | $278.7M |
| Total Equity | $662.42M | $636.33M | $633.45M | $651.34M | $470.59M | $331.94M | $561.47M | $523M | $674.39M | $685.88M | $582.68M | $754.51M | $863.69M | $732.99M | $732.8M | $761.7M | $650.7M | $538.9M | $978.9M | $812M | $761.9M | $618.9M | $522.9M | $451.3M | $526.5M | $688.2M | $565.1M | $474.8M | $556.5M | $484.6M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $674M | $645.24M | $653.75M | $659.17M | $476.57M | $339.75M | $576.19M | $535.9M | $676.88M | $688M | $596.22M | $758.37M | $874.42M | $740.21M | $750.5M | $764.9M | $688.8M | $620.3M | $1.02B | $859.2M | $770.6M | $650.2M | $548M | $500.1M | $547.4M | $773.7M | $613.4M | $497.4M | $558.5M | $486.6M |
| Supplementary Data | ||||||||||||||||||||||||||||||
| Total Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | -$150K | -$102K | -$146K | -$151K | -$150K | -$339K | -$540K | -$934K | -$134K | -$271K | -$563K | -$351K | -$241K | -$151K | -$200K | -$200K | -$500K | -$300K | -$300K | -$400K | -$300K | -$200K | -$400K | -$100K | $0 | $0 | $0 | -$100K | -$100K | -$100K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 | 1996-12-31 |
| Operating Activities | ||||||||||||||||||||||||||||||
| Net Income | $54.76M | $30.85M | $9.69M | $205.49M | $154.35M | -$142M | -$2.47M | -$126.04M | $13.7M | $125.44M | -$148.47M | -$72.54M | $167.31M | $24.76M | -$1.16M | $129.91M | $135.95M | -$389.55M | $237.18M | $113.13M | $191.02M | $118.25M | $91.65M | -$58.7M | -$131.94M | $169.68M | $108.04M | -$63.57M | $88.84M | $99.37M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9K | $165K | $291K | $458K | $456K | $394K | $398K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $147K | -$94K | $237K | $29K | -$39K | -$194K | -$400K | $500K | -$200K | $100K | -$200K | $100K | $100K | $100K | -$100K | -$100K | -$100K | $0 | $100K | $100K | $100K | $300K | -$100K | $2.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $0 | $0 | $0 | $0 | $0 | $0 | $42.01M | -$138.24M | $237K | $113.88M | -$157.25M | -$86.2M | $157M | -$500K | $200K | -$100K | $200K | -$100K | -$100K | -$100K | $100K | $100K | $100K | $0 | -$142.1M | $161.9M | $98.1M | -$74.9M | $78.9M | $87.1M |
| Total Working Capital Change | $0 | $0 | $0 | $0 | $0 | $0 | $42.15M | -$138.34M | $474K | $113.91M | -$157.29M | -$86.39M | $156.6M | $500K | -$200K | $100K | -$200K | $100K | $100K | $100K | -$100K | -$100K | -$100K | -$67.7M | -$142M | $162M | $98.2M | -$74.6M | $78.8M | $89.3M |
| Other Non-Cash Items | -$54.76M | -$30.85M | -$9.69M | -$205.49M | -$154.35M | $142M | $25.98M | $126.03M | -$13.87M | -$125.73M | $148.01M | $72.08M | -$167.7M | -$24.76M | $160K | -$110K | $150K | -$50K | -$80K | -$2.03M | $80K | $150K | $50K | $67.7M | $142.04M | -$161.98M | -$98.24M | $74.57M | -$78.84M | -$89.27M |
| Net Cash from Operating | $0 | $0 | $0 | $0 | $0 | $0 | $65.66M | -$126.04M | $13.7M | $125.44M | -$147.03M | -$72.93M | $168.2M | $24.9M | -$1.2M | $129.9M | $135.9M | -$389.5M | $237.2M | $111.2M | $191M | $118.3M | $91.6M | -$58.7M | -$131.9M | $169.7M | $108M | -$63.6M | $88.8M | $99.4M |
| Investing Activities | ||||||||||||||||||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $20.8M | $11.8M | $9.1M | $16.3M | $22.8M | $18.2M | -$10.1M | $6.3M | $5.4M | $6.9M | $1.2M | -$10.9M | $14.5M | $12.7M | $13.5M | $11.1M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$27.8M | -$18.9M | -$24.2M | -$50.4M | -$70.3M | -$61M | -$48M | -$22.3M | -$20M | -$16.5M | -$29.7M | -$46.6M | -$17.8M | -$18.1M | -$17M | -$16.2M |
| Net Cash from Financing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$27.8M | -$18.9M | -$24.2M | -$50.4M | -$70.3M | -$61M | -$48M | -$22.3M | -$20M | -$16.5M | -$29.7M | -$46.6M | -$17.8M | -$18.1M | -$17M | -$16.2M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $0 | $0 | $0 | $448 | -$189K | -$201K | -$394K | -$151.39M | -$11.49M | $103.21M | -$171.83M | -$109.18M | $130.7M | $200K | -$28.9M | $111M | $111.8M | -$440M | $166.9M | $50.1M | $143M | $95.9M | $71.7M | -$75.2M | -$161.6M | $123.1M | $90.3M | -$81.6M | $71.9M | $83.2M |
| Supplementary Data | ||||||||||||||||||||||||||||||
| Operating Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $65.66M | -$126.04M | $13.7M | $125.44M | -$147.03M | -$72.93M | $168.2M | $24.9M | -$1.2M | $129.9M | $135.9M | -$389.5M | $237.2M | $111.2M | $191M | $118.3M | $91.6M | -$58.7M | -$131.9M | $169.7M | $108M | -$63.6M | $88.8M | $99.4M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $65.66M | -$126.04M | $13.7M | $125.44M | -$147.03M | -$72.93M | $168.2M | $24.9M | -$1.2M | $129.9M | $135.9M | -$389.5M | $237.2M | $111.2M | $191M | $118.3M | $91.6M | -$58.7M | -$131.9M | $169.7M | $108M | -$63.6M | $88.8M | $99.4M |
| Cash at Beginning | $0 | $0 | $0 | $150K | $339K | $540K | $934K | $134K | $271K | $563K | $351K | $200K | $200K | $200K | $200K | $500K | $300K | $300K | $400K | $300K | $200K | $400K | $100K | $0 | -$100K | $0 | $100K | $100K | $100K | $0 |
| Cash at End | $0 | $0 | $0 | $151K | $150K | $339K | $540K | -$151.26M | -$11.22M | $103.77M | -$171.48M | -$108.98M | $130.9M | $400K | -$28.7M | $111.5M | $112.1M | -$439.7M | $167.3M | $50.4M | $143.2M | $96.3M | $71.8M | -$75.2M | -$161.7M | $123.1M | $90.4M | -$81.5M | $72M | $83.2M |