REX on NYSE

REX American Resources

American ethanol and natural gas company

REX American Resources Corp. (REX; NYSE: REX) is an American producer and retailer of ethanol, distillers grains and natural gas as well as a holding company in energy entities.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

$650.5MRevenue, fiscal 20264
$95.1MNet income, fiscal 20264
1980Founded1

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  • TickerREX on NYSE1
  • IndustryIndustrial Organic Chemicals1
  • HeadquartersDayton1
  • Incorporated inDE5
  • Business address7720 Paragon Road, Dayton, Oh 454595
  • Filer categoryLarge accelerated filer5

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Former Rex Locations (10381779723)
Photo: Random Retail, CC BY 2.0, via Wikimedia Commons7

REX American Resources Corp. (REX; NYSE: REX) is an American producer and retailer of ethanol, distillers grains and natural gas as well as a holding company in energy entities. It was founded in 1980 and is headquartered in Dayton, Ohio. The company has the entire ownership of three affiliated corporations including Rex Radio and Television, Inc., Stereo Town, Inc. and Kelly & Cohen Appliances, Inc. As of 2012, the company has the ownership of 22 national retail stores and invested in five ethanol production entities nationwide. One of the plants the company invested in, One Earth Energy LLC, has an annual capacity of 100 million gallons of ethanol and 320,000 tons of dried distillers grains. The company exited the retail industry and transferred to energy investment in 2009 with changing the name from Rex Stores Corporation to its current name in the following year.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

19.3%Gross margin8
14.6%Net margin4
1.2%Revenue growth, 20264
15.6%Return on equity4
$49.4MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Ethanol brought in 78% of the revenue REX American Resources broke down this way in fiscal 2026.

  1. Ethanol$504.4M478%up 2% from 2025
  2. Dried Distillers Grains$88.2M414%down 13% from 2025
  3. Distillers Corn Oil$52.4M48%up 34% from 2025
  4. Modified Distillers Grains$5.4M41%up 10% from 2025
  5. Other$399.0K40%up 21% from 2025
Products and services by year
Products and services202420252026
Ethanol$635.4M$496.4M$504.4M
Dried Distillers Grains$139.2M$101.4M$88.2M
Distillers Corn Oil$52.9M$39.0M$52.4M
Modified Distillers Grains$5.6M$4.9M$5.4M
Other$309.0K$329.0K$399.0K

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue79¢$556.8M
  • Selling, general and admin5¢$32.6M
  • Income tax3¢$21.6M
  • Profit13¢$95.1M

Out of $650.5M in revenue.48

Where each dollar of operating cash went, fiscal 2026

  • Capital spending58¢$68.4M
  • Share buybacks28¢$33.4M
  • Kept or used elsewhere14¢$16.0M

Out of $117.8M of cash from operations.4

Financial statements

Revenue91011124$650.5M in 2026+34% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $485.9M$485.9M20192020: $417.7M$417.7M2020−14%2021: $372.7M$372.7M2021−11%2022: $774.8M$774.8M2022+108%2023: $855.0M$855.0M2023+10%2024: $833.4M$833.4M2024−3%2025: $642.5M$642.5M2025−23%2026: $650.5M$650.5M2026+1%
Gross profit131410111248$125.4M in 2026+315% since 2019
0$50.0M$100.0M$150.0M2019: $30.2M$30.2M20192020: $20.4M$20.4M2020−32%2021: $19.5M$19.5M2021−4%2022: $90.6M$90.6M2022+364%2023: $48.6M$48.6M2023−46%2024: $98.2M$98.2M2024+102%2025: $91.5M$91.5M2025−7%2026: $125.4M$125.4M2026+37%
Net income131410114$95.1M in 2026+200% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $31.6M$31.6M20192020: $7.4M$7.4M2020−77%2021: $3.0M$3.0M2021−60%2022: $52.4M$52.4M2022+1645%2023: $27.7M$27.7M2023−47%2024: $60.9M$60.9M2024+120%2025: $71.5M$71.5M2025+17%2026: $95.1M$95.1M2026+33%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2026-01-312025-01-312024-01-31
Net sales and revenue$650.5M$642.5M$833.4M
Cost of sales (includes $86.4 million, $99.2 million and $117.0 million with related parties for the years ended January 31, 2026, 2025 and 2024, respectively)$556.8M$551.0M$735.2M
Gross profit$93.7M$91.5M$98.2M
Selling, general and administrative expenses-$32.6M-$27.1M-$29.4M
Equity in income of unconsolidated affiliates$12.5M$9.4M$13.9M
Interest and other income, net$15.0M$19.2M$15.7M
Income before income taxes$88.6M$92.9M$98.5M
Benefit (provision) for income taxes$6.5M-$21.4M-$22.6M
Net income$95.1M$71.5M$75.9M
Net income attributable to noncontrolling interests-$12.1M-$13.3M-$15.0M
Net income attributable to REX common shareholders$83.0M$58.2M$60.9M
Weighted average shares outstanding basic (in Shares)33.2M shares35.3M shares35.0M shares
Basic net income per share attributable to REX common shareholders (in Dollars per share)$2.50$1.65$1.74
Weighted average shares outstanding diluted (in Shares)33.2M shares35.3M shares35.2M shares
Diluted net income per share attributable to REX common shareholders (in Dollars per share)$2.50$1.65$1.73
Cost of sales, related parties$86.4M$99.2M$117.0M

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The story

The company used to be engaged in the retail industry, but it transferred its business focus to energy in 2009 and changed its name to REX American Resources Corporation one year later. The company operates its business in two segments including Alternative Energy and Real Estate. In Alternative Energy segment, the company's properties include One Earth Energy, NuGen Energy, Patriot Renewable Fuels, Levelland Hockley County Ethanol and a portfolio group. Among the properties, only Levelland Hockley County Ethanol stopped operation now. As for Real Estate segment, the company is engaged in leasing its retail stores (281,000 square feet) to customers. As of March 2014, the company has a market capitalization of $418.23 million with an enterprise value of $412.31 million.

From Wikipedia’s article on REX American Resources, shared under CC BY-SA 4.0.6

Leadership

Who has led REX American Resources, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Zafar A. Rizvi2016–now

President

  1. Zafar A. Rizvi2011–now

Chief financial officer

  1. Douglas Bruggeman2006–now

Chief operating officer

  1. Zafar A. Rizvi2011–2014
1990200020102020
Board members and other officers (13)

Former names

  • REX STORES CORPJun 9, 1994 to Jun 4, 20105

Timeline

  1. Jun 16, 2016New chief executive Zafar A. Rizvi becomes CEO16
  2. 1980Founded Founded1

Filings

217 filings to the SEC since October 2021: 5 annual reports, 18 quarterly reports, 31 major events, 106 insider forms, 30 large holders, 27 other. The latest 20:

  1. Oct 13, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 30, 2026144 EDGAR
  4. Sep 3, 202610-Q EDGAR
  5. Sep 2, 20268-K EDGAR
  6. Jul 1, 20268-K EDGAR
  7. Jun 22, 20264 PRIMARY DOCUMENT EDGAR
  8. Jun 18, 20264 PRIMARY DOCUMENT EDGAR
  9. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  10. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  11. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  12. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  13. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  14. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  15. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  16. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  17. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  18. Jun 17, 20264 PRIMARY DOCUMENT EDGAR
  19. Jun 15, 20264 PRIMARY DOCUMENT EDGAR
  20. Jun 12, 20268-K EDGAR

The 217 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 30 such filings since October 2021, the latest 10:

  1. Mar 27, 2026SCHEDULE 13G/A
  2. Feb 12, 2026SCHEDULE 13G/A
  3. Oct 17, 2025SCHEDULE 13G/A
  4. Oct 9, 2025SCHEDULE 13G/A
  5. Aug 11, 2025SCHEDULE 13G
  6. May 14, 2025SCHEDULE 13G
  7. May 13, 2025SCHEDULE 13G
  8. Apr 30, 2025SCHEDULE 13G/A
  9. Apr 15, 2025SCHEDULE 13G/A
  10. Feb 4, 2025SCHEDULE 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.5,662,010$255.6M0.0%+168,584
Dimensional Fund Advisors LP1,825,770$82.4M0.0%−70,298
State Street Corp1,573,545$71.0M0.0%+120,432
Renaissance Technologies LLC1,458,366$65.8M0.1%−65,228
Vanguard Portfolio Management LLC1,284,806$58.0M0.0%+30,860
Vanguard Capital Management LLC1,243,606$56.1M0.0%+19,291
Systematic Financial Management LP1,036,887$46.8M0.9%−71,943
Mangrove Partners Im, LLC1,015,234$45.8M3.0%No change
Geode Capital Management, LLC869,102$39.2M0.0%+33,554
D. E. Shaw & Co., Inc.646,597$29.2M0.0%+2,702
American Century Companies Inc592,291$26.7M0.0%−4,298
Morgan Stanley572,684$25.9M0.0%+22,095
Invesco Ltd.563,188$25.4M0.0%+34,318
Brown Advisory Inc506,500$22.9M0.0%−5,649
Goldman Sachs Group Inc478,514$21.6M0.0%+238,312
Northern Trust Corp461,865$20.9M0.0%+14,682
Arrowstreet Capital, Limited Partnership448,828$20.3M0.0%+1,186
Charles Schwab Investment Management Inc412,110$18.6M0.0%−34,049
AWH Capital, L.P.295,000$13.3M4.6%+147,500
Hotchkis & Wiley Capital Management LLC290,062$13.1M0.0%−11,020
Qube Research & Technologies Ltd277,749$12.5M0.0%+98,604
Bridgeway Capital Management, LLC270,887$12.2M0.2%−45,929
Aqr Capital Management LLC266,522$12.0M0.0%+93,142
Nuveen, LLC254,624$11.5M0.0%+303
Jpmorgan Chase & Co245,749$11.0M0.0%+85,036

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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