American Power Group (APGI) AI Stock Analysis

• Market Cap: $9.86M
• Dividend Yield: N/A
• Average Volume (3M): 9.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.75
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 8
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): N/A
• Shares Outstanding: 1,120,451,400
• 10 Day Avg. Volume: 6,157
• 30 Day Avg. Volume: 9,989
• PEG Ratio: 0.08
• Price to Book (P/B): 2.26
• Price to Sales (P/S): 6.30
• P/FCF Ratio: -17.93
• Enterprise Value/Market Cap: 1.06
• Enterprise Value/Revenue: 4.84
• Enterprise Value/Gross Profit: -11.81
• Enterprise Value/Ebitda: -1.43
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $0.01 ▲(0.00% Upside)
• Action: Reiterated Date: 01/13/26
• Date: Action: Reiterated 01/13/26

The score is primarily held down by weak financial performance: declining revenue, worsening profitability, and accelerating cash burn, partially offset by low leverage and a still-supportive equity base. Technical and valuation inputs were not available in the provided data, limiting support from those components.

Positive Factors

Strong Equity Position

A strong equity position indicates financial stability, providing a buffer against potential financial downturns and enabling strategic investments.

Low Leverage

Minimal leverage reduces financial risk, allowing the company to manage its obligations without significant pressure from debt servicing.

Alternative Fuel Focus

Focusing on alternative fuels positions APGI well in the growing market for sustainable energy solutions, aligning with global trends towards reducing emissions.

Negative Factors

Consistent Net Losses

Ongoing net losses highlight operational challenges, potentially limiting the company's ability to invest in growth and innovation over the long term.

Negative Cash Flows

Negative cash flows suggest difficulties in generating cash from operations, which can hinder the company's ability to sustain operations without external financing.

Profitability Challenges

Negative return on equity indicates that the company is not generating sufficient profit from its equity base, which can affect long-term shareholder value.

American Power Group Business Overview & Revenue Model

Company Description

American Power Group Corporation provides patented dual fuel conversion system for primary and back-up diesel generators, and mid-to heavy-duty vehicular diesel engines in North America and internationally. It operates through two segments, Dual Fuel Conversion Operations and Natural Gas Liquids Operations. The company's dual fuel conversion system is a fuel delivery enhancement system that converts existing diesel engines into engines, which run on diesel fuel and compressed natural gas or liquefied natural gas; diesel fuel and pipeline gas, well-head gas, or approved bio-methane; and diesel. It also provides flare capture and recovery services to oil and gas production companies. The company was formerly known as GreenMan Technologies, Inc. and changed its name to American Power Group Corporation in August 2012. American Power Group Corporation was founded in 1992 and is headquartered in Algona, Iowa.

How the Company Makes Money

APGI generates revenue through multiple key streams, primarily from the sale of its engine conversion systems and related technologies. The company earns money by charging customers for the installation of these systems, which allow diesel engines to operate on alternative fuels. Additionally, APGI offers ongoing maintenance and technical support services, which provide a continuous revenue stream. Partnerships with fuel suppliers and industry stakeholders enhance its market reach and customer base, while government incentives for cleaner fuel usage further support its earnings. Moreover, APGI may benefit from potential licensing agreements and collaborations that leverage its proprietary technologies in broader markets.

American Power Group Financial Statement Overview

Summary

Overall financials are weak: revenue declined (2024 to 2025), losses deepened with sharply worse margins, and cash burn increased with negative operating and free cash flow. The balance sheet is a relative positive due to low leverage and meaningful equity, but ongoing losses and negative returns are the key risk.

Income Statement

Recent performance has deteriorated: revenue fell from $3.36M (2024) to $2.13M (2025), and profitability weakened sharply with net margin dropping to about -80% (2025) from about -30% (2024). Gross margin also compressed (~21% in 2025 vs ~37% in 2024), and operating losses remain sizable (negative EBIT/EBITDA). A positive offset is that the business has shown it can be profitable in a prior year (2022 net income was positive), but the last two years show a clear reversal and elevated earnings volatility.

Balance Sheet

Leverage appears conservative, with low debt relative to equity in both 2024 and 2025 (debt-to-equity roughly 0.01x–0.07x). Equity remains sizable and positive in the most recent period, providing balance-sheet cushioning. The key weakness is ongoing losses, reflected in negative returns on equity (worsening to roughly -29% in 2025 from about -14% in 2024), which can erode the capital base if not reversed.

Cash Flow

Cash generation is a major pressure point: operating cash flow and free cash flow are negative in 2024 and 2025 (about -$0.26M and -$0.75M, respectively), with burn accelerating in the latest year. While free cash flow is roughly in line with net losses (i.e., losses are not being masked by unusually strong cash conversion), the company is still not funding itself through operations, increasing reliance on external capital or balance-sheet resources.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	2.16M	2.13M	3.36M	869.60K	3.53M	2.68M
Gross Profit	-886.77K	440.33K	1.25M	869.60K	1.68M	1.06M
EBITDA	-7.32M	-1.27M	-517.81K	-1.80M	608.56K	245.55K
Net Income	-9.63M	-1.71M	-999.73K	-2.04M	289.31K	-302.36K
Balance Sheet
Total Assets	5.82M	7.13M	8.24M	8.61M	8.85M	4.96M
Cash, Cash Equivalents and Short-Term Investments	212.17K	21.10K	410.82K	21.42K	140.67K	190.76K
Total Debt	9.18M	411.32K	51.31K	681.99K	330.29K	3.39M
Total Liabilities	12.09M	1.18M	877.83K	1.51M	3.68M	5.53M
Stockholders Equity	-6.26M	5.94M	7.37M	7.10M	5.17M	-566.73K
Cash Flow
Free Cash Flow	-4.44M	-749.73K	-264.92K	-1.69M	-154.54K	58.59K
Operating Cash Flow	-4.23M	-749.73K	-259.72K	-1.62M	18.34K	58.59K
Investing Cash Flow	95.09K	0.00	-5.20K	-2.30M	-1.24M	-686.37K
Financing Cash Flow	4.22M	360.01K	654.32K	3.80M	1.17M	808.51K

American Power Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APGI, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.01, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.19 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for APGI.

American Power Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BWEN	65 Neutral	$56.15M	11.11	8.20%	―	-1.47%	52.65%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
JCSE	59 Neutral	$4.26M	-3.86	―	8.18%	-23.37%	-264.09%
CVV	55 Neutral	$27.40M	-143.54	-0.73%	―	19.84%	95.71%
APGI	45 Neutral	$9.86M	―	―	―	―	―
CETY	41 Neutral	$3.09M	-0.49	-82.18%	―	-57.40%	52.85%
BURU	35 Underperform	$48.30M	-0.08	―	―	-98.20%	93.77%