Forensic Analysis · Materials / Mining & Chemicals · as of Aug 9, 2026

Rex American Resources Corp (REX)

A forensic read on Rex American Resources Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Safe

Financial health

16.2

Distress distance

Clean

Earnings quality

Forensic signals

15.6

P / E (ttm)

15.6%

ROE

$1.4B

Market cap

1.2%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Rex American Resources Corp earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 16.2, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+14.7%

FY2025→FY2026

Accruals ratio (% of NOA). Net operating assets grew +14.7% relative to their own average in FY2026 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by PP&E up +29% against revenue +1%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 6% of net operating assets, diverging from the balance-sheet accrual read.

n/m (stock split)

FY2022–FY2026

Share count (stock split). Diluted share count changed +88% over the last 4 years to FY2026, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +17.1%/yr figure isn't a real buyback/dilution read here.

Key fundamentals

Latest Revenue$650.5M

Revenue Growth YoY+1.2%

Net Margin14.6%

Free Cash Flow$49.4M

Return on Equity15.6%

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Data from SEC EDGAR public filings · metrics as of Aug 9, 2026. Forensic signals flag probability, not certainty.