FutureFuel
FF on NYSE. FutureFuel sells chemicals and biofuels to manufacturers and fuel buyers. Market value $224m.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Materials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-22.50 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 40 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$5.16 a share, 67% above its 1-year low
Over the past year the price has ranged from $3.09 to $6.99.
Dividend: 3.7% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $321m | $396m | $368m | $243m | $96m |
| Operating margin | |||||
| Operating margin | 4.0% | 4.4% | 7.4% | 2.6% | -55.3% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.04bn | 0.04bn | 0.04bn | 0.04bn | 0.04bn |
Health checks
- Free cash flow positive3 of 4 years
- Accounting checksSkipped: company is not yet profitable
- DebtUnknown
- Revenue growth, five yearsShrinking, 14.1% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $79 million last quarter, up 121% on a year ago.
- Profit: $11 million, after a loss of $14 million a year ago.
- Over the past 12 months it spent $51 million more cash than it brought in, compared with $10 million a year earlier.
- 1% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $51m |
| December 2024 | $62m |
| March 2025 | $18m |
| June 2025 | $36m |
| September 2025 | $23m |
| December 2025 | $20m |
| March 2026 | $32m |
| June 2026 | $79m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$1m |
| December 2024 | $3m |
| March 2025 | -$18m |
| June 2025 | -$14m |
| September 2025 | -$9m |
| December 2025 | -$12m |
| March 2026 | -$21m |
| June 2026 | $11m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 16 March 2026
- Next quarterly (estimated, 10-Q)
- 9 November 2026
Who owns it
None of the long-term investors we follow own it. 104 funds in all.
Largest holders overall
- BlackRock$9mAdded
- Renaissance Technologies$6mCut
- Dimensional Fund Advisors LP$6mCut
- Ameriprise Financial$6mAdded
- Vanguard Capital Management$5mCut
- TWO Sigma Investments, LP$4mCut
- Geode Capital Management$3m
- State Street$3m
- Citadel Advisors$2mAdded
- Bridgeway Capital Management$2m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
No one has reported a stake above 5% since December 2024.
- Dimensional Fund Advisors LPPassive investorSold down below 5%Since 30 September 2025
| Holder | Stake | Since | |
|---|---|---|---|
Dimensional Fund Advisors LP Passive investor | Sold down below 5% | 30 September 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $90,800 of shares on the open market.
- Polet RoelandChief Executive Officer, DirectorBought
- Date
- 4 June 2026
- Shares
- 10,000
- Price
- $4.28
- Value
- $42,800
- Polet RoelandChief Executive OfficerBought
- Date
- 20 November 2025
- Shares
- 15,000
- Price
- $3.20
- Value
- $48,000
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 4 June 2026 | Polet Roeland Chief Executive Officer, Director | Bought | 10,000 | $4.28 | $42,800 |
| 20 November 2025 | Polet Roeland Chief Executive Officer | Bought | 15,000 | $3.20 | $48,000 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 16 Mar 2026, plus the 10-Q filed 10 Aug 2026 and 9 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 14.1% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.