# Atlas Energy Solutions (AESI.US)

Canonical: https://gigainvestors.com/s/AESI

Analysis as of: 2026-10-16T07:26:16.894Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $10.31 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

## Price story

Down 57% since May 2024 · "Average Revenue per Ton: $23.29, with an expected decline to approximately $20.50 in Q3." (finance.yahoo.com, Aug 2025)

Story as of 2026-10-16T09:58:15.187Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in oil & gas equipment & services; annual sales are USD 1.1 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1984060/000119312526067145/aesi-20251231.htm (filed 2026-02-24); FY2025: revenue 1095310000; grossProfit 150667000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); AESI.US: Atlas Energy Solutions Inc. produces proppants and provides logistics and distributed power solutions in the Permian Basin of West Texas and New Mexico. It operates through two segments: Sand and Logistics, and Power. The Sand and Logistics segment operates fourteen proppant production facilities, including large-scale in-basin plants and a distributed mining network. This segment sells products and services primarily to oil and natural gas exploration and production companies, hydraulic fracturing services, and oilfield services companies; and produces locally sourced proppants, such as 40/70-mesh and 100-mesh sand, as well as both dry and damp sand options. It also offers a differentiated logistics platform featuring a fleet of fit-for-purpose trucks, trailers, wellsite equipment, and a 42-mile Dune Express conveyor system for proppant delivery. The Power segment provides distributed power solutions through a fleet of natural gas-powered reciprocating generators designed for heavy-duty, mission-critical applications, primarily supporting oil and gas production and artificial lift operations. The company also offers transportation, storage, contract labor, and distributes power rentals to the oil and gas industry. Atlas Energy Solutions Inc. formerly known as New Atlas HoldCo. Inc. Atlas Energy Solutions Inc. was founded in 2017 and is headquartered in Austin, Texas.

### Why customers stay

Margins ranged from 13.8% to 51.1% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2023: grossProfit / revenue = 51.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2024: grossProfit / revenue = 22%.

- Source: https://www.sec.gov/Archives/edgar/data/1984060/000119312526067145/aesi-20251231.htm (filed 2026-02-24); FY2025: grossProfit / revenue = 13.8%.

### Where the cash goes

Paid dividends in 6 of 6 years; bought back USD 200000 of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2021: growth capex 0; upkeep 19371000; owner earnings 9491000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2022: growth capex 60975000; upkeep 28617000; owner earnings 217006000. Growth capex / owner earnings = 0.28098301429453565.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2023: growth capex 311117416.51323074; upkeep 54368583.48676926; owner earnings 147255416.51323074. Growth capex / owner earnings = 2.112774007774968.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2024: growth capex 259460000; upkeep 114523000; owner earnings 59944000. Growth capex / owner earnings = 4.32837314827172.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); Dividend observations: [[2020,3000],[2021,10000000],[2022,45024000],[2023,77163000],[2024,96895000],[2025,92281000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1984060/000119312526067145/aesi-20251231.htm (filed 2026-02-24); FY2025: cash repurchases 200000 USD.

### Are managers owners

Insiders own 34.3% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); AESI.US SharesStats.PercentInsiders = 34.31 percentage points; cache date 2026-10-15.

### What the price says

The price is 1.2 times annual sales; cash earnings are negative.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); Closing price 10.31 USD; reporting-to-trading FX 1; FY2025 annual sales per share 8.946053007718382; price multiple 1.152463549132209. FY2025 cash earnings/share -0.07815575611548985. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2023-03: $17.03 per share

- 2023-04: $18.04 per share

- 2023-05: $15.62 per share

- 2023-06: $17.36 per share

- 2023-07: $19.75 per share

- 2023-08: $21.29 per share

- 2023-09: $22.23 per share

- 2023-10: $18.21 per share

- 2023-11: $17.06 per share

- 2023-12: $17.22 per share

- 2024-01: $17.37 per share

- 2024-02: $18.86 per share

- 2024-03: $22.62 per share

- 2024-04: $22.21 per share

- 2024-05: $24.22 per share

- 2024-06: $19.93 per share

- 2024-07: $21.24 per share

- 2024-08: $21.09 per share

- 2024-09: $21.80 per share

- 2024-10: $19.57 per share

- 2024-11: $23.57 per share

- 2024-12: $22.18 per share

- 2025-01: $22.96 per share

- 2025-02: $19.38 per share

- 2025-03: $17.84 per share

- 2025-04: $13.53 per share

- 2025-05: $12.15 per share

- 2025-06: $13.37 per share

- 2025-07: $13.00 per share

- 2025-08: $11.71 per share

- 2025-09: $11.37 per share

- 2025-10: $12.38 per share

- 2025-11: $8.62 per share

- 2025-12: $9.42 per share

- 2026-01: $11.67 per share

- 2026-02: $9.63 per share

- 2026-03: $13.12 per share

- 2026-04: $17.38 per share

- 2026-05: $16.69 per share

- 2026-06: $16.61 per share

- 2026-07: $10.79 per share

- 2026-08: $13.10 per share

- 2026-09: $12.01 per share

- 2026-10: $10.31 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1984060/000119312526067145/aesi-20251231.htm); period 2025-12-31, filed 2026-02-24.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.