Company Quick10K Filing
Pacific Ethanol
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 0 $0
S-1 2020-01-21 Public Filing
10-Q 2019-11-12 Quarter: 2019-09-30
10-Q 2019-08-07 Quarter: 2019-06-30
10-Q 2019-05-03 Quarter: 2019-03-31
10-K 2019-03-18 Annual: 2018-12-31
10-Q 2018-11-02 Quarter: 2018-09-30
10-Q 2018-08-09 Quarter: 2018-06-30
10-Q 2018-05-10 Quarter: 2018-03-31
10-K 2018-03-15 Annual: 2017-12-31
10-Q 2017-11-09 Quarter: 2017-09-30
10-Q 2017-08-09 Quarter: 2017-06-30
10-Q 2017-05-10 Quarter: 2017-03-31
10-K 2017-03-15 Annual: 2016-12-31
10-Q 2016-11-08 Quarter: 2016-09-30
10-Q 2016-08-05 Quarter: 2016-06-30
10-Q 2016-05-09 Quarter: 2016-03-31
10-K 2016-03-15 Annual: 2015-12-31
10-Q 2015-11-06 Quarter: 2015-09-30
10-Q 2015-08-10 Quarter: 2015-06-30
10-Q 2015-05-11 Quarter: 2015-03-31
10-K 2015-03-16 Annual: 2014-12-31
10-Q 2014-11-12 Quarter: 2014-09-30
10-Q 2014-08-14 Quarter: 2014-06-30
10-Q 2014-05-09 Quarter: 2014-03-31
10-K 2014-03-31 Annual: 2013-12-31
10-Q 2013-11-12 Quarter: 2013-09-30
10-Q 2013-08-07 Quarter: 2013-06-30
10-Q 2013-05-15 Quarter: 2013-03-31
10-K 2013-04-01 Annual: 2012-12-31
10-Q 2012-11-14 Quarter: 2012-09-30
10-Q 2012-08-14 Quarter: 2012-06-30
10-Q 2012-05-11 Quarter: 2012-03-31
10-K 2012-03-08 Annual: 2011-12-31
10-Q 2011-11-04 Quarter: 2011-09-30
10-Q 2011-08-11 Quarter: 2011-06-30
10-Q 2011-05-13 Quarter: 2011-03-31
10-K 2011-03-31 Annual: 2010-12-31
10-Q 2010-11-15 Quarter: 2010-09-30
10-Q 2010-08-16 Quarter: 2010-06-30
10-Q 2010-05-14 Quarter: 2010-03-31
10-K 2010-03-31 Annual: 2009-12-31
8-K 2020-03-16 Enter Agreement, Earnings, Off-BS Arrangement, Officers, Exhibits
8-K 2020-03-10 Officers
8-K 2020-02-28 Enter Agreement, Exhibits
8-K 2020-01-15
8-K 2019-12-29 Enter Agreement, Off-BS Arrangement
8-K 2019-12-20 Enter Agreement, Off-BS Arrangement, Sale of Shares, Exhibits
8-K 2019-12-16 Enter Agreement, Exhibits
8-K 2019-11-15 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-11-07 Earnings, Shareholder Vote, Exhibits
8-K 2019-09-19 Enter Agreement, Exhibits
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-07-31 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-07-17
8-K 2019-07-15 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-06-20 Other Events
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-03-21 Enter Agreement, Off-BS Arrangement
8-K 2019-03-12 Earnings, Exhibits
8-K 2018-10-31 Earnings, Exhibits
8-K 2018-08-08 Earnings, Exhibits
8-K 2018-06-14 Shareholder Vote
8-K 2018-05-08 Earnings, Exhibits
8-K 2018-03-30 Enter Agreement, Leave Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2018-02-28 Earnings, Exhibits

Pacific Ethanol Financials

PEIX Metrics, Comps, Filings

Annual | Quarterly

Business

We and the ethanol industry as a whole experienced significant adverse conditions throughout most of 2018 as a result of industry-wide record low ethanol prices due to reduced demand and high industry inventory levels. These factors resulted in prolonged negative operating margins, significantly lower cash flow from operations and substantial net losses. In response to these adverse conditions, we have initiated and expect to complete over the next six months a strategic realignment of our business. Our primary focus is the potential sale of certain production assets, a reduction of our debt levels, a strengthening of our cash and liquidity, and opportunities for strategic partnerships and capital raising activities, positioning us to optimize our business performance. We believe we have excellent production assets with values well in excess of our near term liquidity needs. We are also confident in our strong relationships with our financial and commercial partners and believe we are taking the appropriate steps to increase our shareholder value to benefit all of our stakeholders long-term and to provide greater financial flexibility to execute future strategic initiatives.

We believe our strategic realignment, if implemented timely and on suitable terms, will provide sufficient liquidity to meet our anticipated working capital, debt service and other liquidity needs through at least the next twelve months. However, if we are unable to timely implement our strategic realignment on suitable terms, if margins do not improve, or if we are unable to further defer principal and/or interest payments or extend the maturity date on our debt, we will likely have insufficient liquidity through the next twelve months, or earlier depending on margins, operating cash flows and lender forbearance. In addition, if margins do not improve from current levels, we may be forced to curtail our production at one or more of our operating facilities. See “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources”.

We are a leading producer and marketer of low-carbon renewable fuels in the United States.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Advanced Emissions Solutions (ADES) 265 10% 4.6 19% 179 71 65 7 33 64 295
Flotek Industries (FTK) 124 -5% 0.4 16% 249 38 143 -7 40 48 18
NL Industries (NL) 199 31% 2.2 4% 555 232 122 38 24 28 61
LSB Industries (LXU) 103 8% 10.4 -4% 1,130 846 386 30 -49 47 493
Tantech Holdings (TANH) 51 0% 134 24 0 0 0 0 41
Gulf Resources (GURE) 47 49% 36.6 -6% 288 22 11 5 -19 -2 -59
Flexible Solutions International (FSI) 29 31% 7.5 5% 34 13 26 8 2 4 27
Gevo (GEVO) 47 -55% -1.5 -23% 95 19 18 -10 -22 -17 26
Delta Technology Holdings (DELT) 13 0% 67 90 0 0 0 0 12
Synthesis Energy Systems (SES) 6 87% -1.0 -125% 9 8 0 0 -11 -10 10
Pacific Ethanol (PEIX) 0 -3% -7.4 -12% 653 380 1,067 -34 -80 -30 225
Aemetis (AMTX) 0 5% -15.2 -33% 97 243 150 7 -32 -13 196
Urban Tea (MYT) 0% 11 2 0 0 0 0 -5
Element Solutions (ESI) 43% 8.3 0% 4,273 2,153 1,860 799 4 160 1,322
Braskem (BAK) 11,007 0% 58,808 0 0 0 0 8,778
Hydrogenics (HYGS)
Methanex Corporation (MEOH)
Westlake Chemical Partners (WLKP) 32% -0.0 23% 1,407 444 1,155 369 323 403 -19
Green Plains Partners (GPP) 0% 3.4 26% 120 195 85 0 31 40 139
Sinopec Shanghai Petrochemical (SHI) 0% 44,386 13,923 0 0 0 0 -8,720

Balance Sheet ($MM)2011-09-302011-12-312012-09-302012-12-312013-03-312013-12-312014-12-312016-12-312017-12-312018-12-31
Cash1791984562114927
Accounts Receivable28282826323535868068
Inventory22161416182319606258
PP&E1621601531501481971551508483
Assets245232228215221241300449720660
Accounts Payable9685101113374048
Long-Term Debt1194119121122993553244234
Liabilities1331131461421531468262337341
Stockholders' Equity274758535989214388356300
Income Statement ($MM)2011-09-302011-12-312012-09-302012-12-312013-03-312013-12-312014-12-312016-12-312017-12-312018-12-31
Revenue9018169081,1071,6251,6321,515
Cost of Revenue8828368769991,5731,6261,531
Gross Profit19-2033108526-15
R&D
SG&A15121417143236
Tax000185-0-1
Net Income-4-43-1262-38-68
Cash Flow ($MM)2011-09-302011-12-312012-09-302012-12-312013-03-312013-12-312014-12-312016-12-312017-12-312018-12-31
Cash Operating-4-2114886372
Cash Investing-11-12-6-19-68-50-15
Cash Financing1632-10-1253-1-9