A Business at a Glance
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Unless the context requires otherwise, references to “Montauk,” the “Company,” “we,” “us” or “our” refer to Montauk Renewables, Inc. and its consolidated subsidiaries. Additionally, amounts are in thousands unless indicated otherwise. We are a renewable energy company specializing in the recovery and processing of biogas from landfills and other non-fossil fuel sources to beneficial use as a replacement to fossil fuels. We develop, own, and operate RNG projects, using proven technologies that supply renewable fuel into the transportation and electrical power sectors. We are one of the largest U.S. producers of RNG, having participated in the industry for over 30 years. We established our currently operating portfolio of eleven RNG and two Renewable Electricity projects and development projects through self-development, partnerships, and acquisitions that span seven states.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 176M | 176M | 176M | 175M | 206M | 148M |
| Net Income | 1.7M | 1.7M | 9.7M | 15M | 35M | -4.5M |
| EPS | $0.01 | $0.01 | $0.07 | $0.11 | $0.25 | $-0.03 |
| Free Cash Flow | -86M | -86M | -19M | -22M | 59M | 33M |
| ROIC | -0.5% | 0.5% | 5.6% | 11.3% | 39.0% | 2.0% |
| Gross Margin | 36.3% | 36.3% | 44.0% | 25.9% | 32.0% | 17.2% |
| Debt/Equity | 0.52 | 0.52 | 0.24 | 0.27 | 0.34 | 0.48 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -2.5M | -2.5M | 16M | 24M | 45M | 3.3M |
| Operating Margin | -1.4% | -1.4% | 9.2% | 13.5% | 21.7% | 2.3% |
| ROE | 0.7% | 0.7% | 3.8% | 6.0% | 15.5% | -2.5% |
| Shares Outstanding | 175M | 175M | 139M | 136M | 141M | 151M |
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 106M | 100M | 148M | 206M | 175M | 176M | 176M | 176M |
| Gross Margin | 29.1% | N/A | 17.2% | 32.0% | 25.9% | 44.0% | 36.3% | 36.3% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 14M | 17M | 43M | 34M | 34M | 36M | 32M | 32M |
| EBIT | 11M | 3.6M | 3.3M | 45M | 24M | 16M | -2.5M | -2.5M |
| Op. Margin | 10.4% | 3.6% | 2.3% | 21.7% | 13.5% | 9.2% | -1.4% | -1.4% |
| Net Income | 5.8M | 4.6M | -4.5M | 35M | 15M | 9.7M | 1.7M | 1.7M |
| Net Margin | 5.5% | 4.6% | -3.1% | 17.1% | 8.5% | 5.5% | 1.0% | 1.0% |
| Non-Recurring | 2.4M | -42K | 1.2M | 4.9M | 902K | 1.6M | 3.2M | 3.2M |
| Returns on Capital | ||||||||
| ROIC | 8.3% | 1.9% | 2.0% | 39.0% | 11.3% | 5.6% | 0.5% | -0.5% |
| ROE | 3.9% | 2.9% | -2.5% | 15.5% | 6.0% | 3.8% | 0.7% | 0.7% |
| ROA | 2.4% | 1.8% | -1.6% | 10.6% | 4.3% | 2.8% | 0.4% | 0.4% |
| Cash Flow | ||||||||
| Op. Cash Flow | 28M | 29M | 43M | 81M | 41M | 44M | 30M | 30M |
| Free Cash Flow | -18M | 11M | 33M | 59M | -22M | -19M | -86M | -86M |
| Owner Earnings | 7.5M | 5.8M | -2.4M | 51M | 12M | 10M | -4.1M | -4.1M |
| CapEx | 46M | 18M | 10.0M | 22M | 63M | 62M | 117M | 117M |
| Maint. CapEx | 20M | 22M | 23M | 21M | 21M | 24M | 30M | 30M |
| Growth CapEx | 26M | 0 | 0 | 1.6M | 42M | 39M | 87M | 87M |
| D&A | 20M | 22M | 23M | 21M | 21M | 24M | 30M | 30M |
| CapEx/OCF | N/A | N/A | 23.3% | 27.5% | 153.7% | 142.3% | N/A | 384.2% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 74K | 0 | 11M | 238K | 122K | 1.8M | 419K | 419K |
| Buyback Yield | 0.0% | N/A | 0.7% | 0.0% | 0.0% | 0.3% | 0.0% | 0.2% |
| Stock-Based Comp | 570K | 762K | 22M | 9.8M | 8.3M | 10.0M | 4.4M | 4.4M |
| Debt Repayment | 55M | 10M | 67M | 8.0M | 8.0M | 8.0M | 12M | 12M |
| Balance Sheet | ||||||||
| Net Debt | 18M | 34M | -19M | -134M | -80M | -28M | 91M | 114M |
| Cash & Equiv. | 9.8M | 21M | 53M | 105M | 74M | 46M | 24M | 24M |
| Long-Term Debt | 28M | 56M | 71M | 64M | 56M | 44M | 126M | 126M |
| Debt/Equity | 0.18 | 0.48 | 0.48 | 0.34 | 0.27 | 0.24 | 0.52 | 0.52 |
| Interest Coverage | 2.0 | 0.8 | 1.1 | 24.9 | 4.1 | 3.1 | -0.5 | -0.5 |
| Equity | 154M | 160M | 182M | 227M | 250M | 257M | 263M | 263M |
| Total Assets | 244M | 253M | 286M | 332M | 350M | 349M | 435M | 435M |
| Total Liabilities | 89M | 94M | 104M | 105M | 100M | 92M | 172M | 172M |
| Intangibles | N/A | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | N/A | N/A | -4.5M | 31M | 46M | 55M | 57M | 57M |
| Working Capital | N/A | 4.0M | 51M | 96M | 61M | 24M | 3.7M | 3.7M |
| Current Assets | N/A | 32M | 75M | 125M | 90M | 57M | 37M | 37M |
| Current Liabilities | N/A | 28M | 25M | 28M | 29M | 34M | 33M | 33M |
| Per Share Data | ||||||||
| EPS | N/A | 0.03 | -0.03 | 0.25 | 0.11 | 0.07 | 0.01 | 0.01 |
| Owner EPS | N/A | 0.04 | -0.02 | 0.36 | 0.09 | 0.07 | -0.02 | -0.02 |
| Book Value | N/A | 1.11 | 1.21 | 1.61 | 1.84 | 1.85 | 1.51 | 1.51 |
| Cash Flow/Share | N/A | 0.20 | 0.28 | 0.58 | 0.30 | 0.31 | 0.17 | 0.18 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | N/A | 143.6M | 150.9M | 140.8M | 135.9M | 139.1M | 174.8M | 174.8M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | 43.2 | 82.2 | 56.1 | N/A | 119.0 |
| P/FCF | N/A | N/A | 50.5 | 25.9 | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | 505.6 | 33.4 | 51.5 | 34.5 | N/A | N/A |
| Price/Book | N/A | N/A | 9.1 | 6.7 | 4.9 | 2.1 | N/A | 0.8 |
| Price/Sales | N/A | N/A | 10.3 | 8.7 | 6.9 | 4.1 | N/A | 1.2 |
| FCF Yield | N/A | N/A | 2.0% | 3.9% | -1.8% | -3.4% | N/A | -41.4% |
| Market Cap | 0 | N/A | 1.7B | 1.5B | 1.2B | 546M | 0 | 208M |
| Avg. Price | 0.00 | N/A | 10.08 | 12.67 | 8.87 | 5.18 | 0.00 | 1.19 |
| Year-End Price | 0.00 | N/A | 11.00 | 10.80 | 9.04 | 3.93 | 0.00 | 1.19 |
Montauk Renewables, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 11.7% with a gross margin of 31.1%. Total shareholder yield (buybacks) is 0.2%. At current prices, the estimated annualized return to fair value is +2.9%.
Montauk Renewables, Inc. (MNTK) has a 5-year average return on invested capital (ROIC) of 11.7%. This indicates solid capital allocation.
Montauk Renewables, Inc. (MNTK) has a market capitalization of $208M. It is classified as a small-cap stock.
Montauk Renewables, Inc. (MNTK) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.20%.
Montauk Renewables, Inc. (MNTK) operates in the Gas & Other Services Combined industry, within the Utilities sector.
Montauk Renewables, Inc. (MNTK) reported annual revenue of $176 million in its most recent fiscal year, based on SEC EDGAR filings.
Montauk Renewables, Inc. (MNTK) has a net profit margin of 1.0%. This is a modest margin.
Montauk Renewables, Inc. (MNTK) generated $-86 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Montauk Renewables, Inc. (MNTK) has a debt-to-equity ratio of 0.52. This indicates moderate leverage.
Montauk Renewables, Inc. (MNTK) reported earnings per share (EPS) of $0.01 in its most recent fiscal year.
Montauk Renewables, Inc. (MNTK) has a return on equity (ROE) of 0.7%. This indicates moderate shareholder returns.
Montauk Renewables, Inc. (MNTK) has a 5-year average gross margin of 31.1%. This indicates decent pricing power.
The Ledger Terminal provides 7 years of financial data for Montauk Renewables, Inc. (MNTK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Montauk Renewables, Inc. (MNTK) has a book value per share of $1.51, based on its most recent annual SEC filing.