Quality Investor

REX American Resources Corporation

Rank #442Capital Return

REX · NYSE · Basic Materials

REX American Resources Corporation (REX) — Rank #442 by gross profitability (GP/assets 0.11) · ROE 12.3% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0000744187 · all metrics point-in-time as of the filing date.

About

REX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States.

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The company provides corn, distillers grains, ethanol, distillers corn oil, gasoline, and natural gas. It also offers dry distillers grains with soluble, which is used as a protein in animal feed. REX American Resources Corporation was formerly known as REX Stores Corporation and changed its name to REX American Resources Corporation in June 2010.

The company was founded in 1980 and is headquartered in Dayton, Ohio.

Industry
Chemicals
Sector
Basic Materials
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
January 31

Price History

REX+209.2% · +25.3% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$1.38B

P/E (annual)

16.6

P/S (annual)

2.1

P/B

2.0

P/OCF (annual)

11.7

Shareholder Yield

5.9%

Employees

132

Industry

Chemicals

Exchange

NYSE

Signal Flags

2 green
Revenue growth acceleratingGrowth rate increasing year over year
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak

Quality Profile

Profitability

1/1 pass
GP / assets
0.11
Return on equity
12.3%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.11
Current ratio
6.88×
Net cash
$379.51M

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue
0.6%

Growth

2/2 pass
Revenue growth
1.2%
Piotroski F-Score
N/A
Share dilution
-5.9%

Terry Smith quality gate

Passes 0/5 Terry Smith thresholds

3 of 5 thresholds not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

12.3%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -5.9% — per-share value needs a total required return of 6.4% once share-count change is priced in.

vs. own 6-year median revenue growth: -0.6%

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

7.7%

r = 10% (base)

12.3%

r = 12%

16.2%

Net debt / market cap: -27.5%

Base FCF: $49.4M3Y mean FCF: $44.2M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

19.1xExpensive
1.8xmed 4.2x19.1x

P / S

Price / revenue per share

2.4xExpensive
0.1xmed 0.2x2.4x

P / B

Price / book value per share

2.6xExpensive
0.1xmed 0.2x2.6x

P / GP

Price / gross profit per share

16.9xExpensive
1.0xmed 3.7x16.9x

P / FCF

Price / free cash flow per share

32.0xExpensive
1.1xmed 5.5x32.0x

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.11

Primary signal (Novy-Marx).

15th pctl of 34 SIC 28 peers

Return on equity

12.3%

Gross margin

14.4%

9th pctl of 34 SIC 28 peers

Revenue growth (YoY)

1.2%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-8.7%

Revenue CAGR (5Y)

11.8%

Earnings CAGR (3Y)

FCF CAGR (3Y)

8.0%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.11

97th pctl of 31 SIC 28 peers (best = lowest)

Current ratio

6.88×

97th pctl of 34 SIC 28 peers

Quick ratio

6.06×

Net cash

$379.51M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$49.39M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.40

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.6%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20212026
Capital Return
Hypergrowth
Op. Leverage
Value