AXR · AMREP CORP.
AMREP Corporation, through its subsidiaries, engages in the real estate business in the United States. It operates through two segments, Land Development and Homebuilding. The company offers land development services, including land and site planning, obtaining of governmental and environmental approvals, installing of utilities and storm drains, ensuring availability of water services, building or improving of roads for land development services, and constructing community amenities; and landscaping services to homebuilders, as well as acquiring lands, and selling of developed and undeveloped lots to homebuilders, and commercial and industrial property developers through brokers. It also builds and sells single-family detached homes and attached homes; offers various home floor plans and elevations; and provides built-to-order homes. In addition, the company owns certain minerals and mineral rights in and under approximately 55,000 surface acres of land in Sandoval County, New Mexico. AMREP Corporation was incorporated in 1955 and is based in Havertown, Pennsylvania.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $25.65 |
| SO | 5.3M |
| Options | — |
| Warrants | 0.0M |
| FD SO | 5.3M |
| MC | $135.2M |
| Cash | $50.0M |
| Total debt | $0.0M |
| EV | $85.2M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 1.6x |
| EV / EBITDA | — |
| MC / Net Income | 10.5x |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 44.4% |
| Insiders | 46.3% |
| # Institutions | 50 |
| Analysts | 1 |
| Consensus | — |
| Avg target | $30.00 |
| Short % float | 1.1% |
| Days to cover | 4.48 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2033-09-12. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.
This filer tags no option count, so FD SO counts it as zero and understates dilution — treat FD SO, MC and EV as a floor. (XBRL reports nothing both for a filer that has none and for one that simply doesn't tag them.)
Financial statements
| 1/31/26 | 10/31/25 | 7/31/25 | 4/30/25 | |
|---|---|---|---|---|
| Total Revenue | 14.57 | 9.40 | 17.85 | 11.18 |
| Revenue YoY % | 93.8% | (21.1%) | (6.5%) | (42.8%) |
| Gross Profit | 5.94 | 3.08 | 7.99 | 5.49 |
| Gross Profit YoY % | 157.3% | (38.1%) | 20.7% | (15.9%) |
| Gross Margin % | 40.7% | 32.7% | 44.8% | 49.1% |
| SG&A | 2.93 | 1.96 | 1.85 | 1.95 |
| Operating Income | 3.01 | 1.12 | 6.15 | 3.54 |
| Operating Income YoY % | 596.1% | (64.4%) | 23.1% | (24.3%) |
| Operating Margin % | 20.6% | 11.9% | 34.4% | 31.7% |
| EBITDA | — | 1.20 | 6.22 | 3.59 |
| EBITDA Margin % | — | 12.8% | 34.9% | 32.1% |
| Interest Expense | 0.39 | 0.46 | 0.46 | 0.35 |
| Other Income / (Expense) | 0.79 | 0.92 | 0.91 | 0.71 |
| Pretax Income | 3.40 | 1.58 | 6.60 | 3.89 |
| Tax Provision | 0.25 | 0.38 | 1.91 | (0.00) |
| Net Income | 3.15 | 1.20 | 4.69 | 3.89 |
| Net Margin % | 21.6% | 12.8% | 26.3% | 34.8% |
| Diluted EPS | $0.58 | $0.22 | $0.87 | $0.73 |
| Basic EPS | $0.59 | $0.22 | $0.88 | $0.73 |
| Diluted Avg Shares | 5.4 | 5.4 | 5.4 | — |
| Basic Avg Shares | 5.3 | 5.3 | 5.3 | — |
| LTM | 4/30/25 | 4/30/24 | 4/30/23 | 4/30/22 | |
|---|---|---|---|---|---|
| Total Revenue | 53.00 | 49.69 | 51.37 | 48.68 | 58.93 |
| Revenue YoY % | 6.7% | (3.3%) | 5.5% | (17.4%) | — |
| Gross Profit | 22.49 | 19.39 | 14.47 | 11.30 | 26.66 |
| Gross Profit YoY % | 16.0% | 33.9% | 28.1% | (57.6%) | — |
| Gross Margin % | 42.4% | 39.0% | 28.2% | 23.2% | 45.2% |
| SG&A | 8.68 | 7.28 | 6.87 | 5.47 | 5.35 |
| Operating Income | 13.81 | 12.11 | 7.60 | 5.83 | 21.30 |
| Operating Income YoY % | 14.1% | 59.3% | 30.4% | (72.6%) | — |
| Operating Margin % | 26.1% | 24.4% | 14.8% | 12.0% | 36.2% |
| EBITDA | — | 12.29 | 7.75 | 5.89 | 21.53 |
| EBITDA Margin % | — | 24.7% | 15.1% | 12.1% | 36.5% |
| Interest Expense | 1.66 | 1.62 | 0.82 | 0.01 | 0.00 |
| Other Income / (Expense) | 3.32 | 3.24 | 1.65 | 1.82 | — |
| Pretax Income | 15.47 | 13.72 | 8.43 | 7.64 | 21.57 |
| Tax Provision | 2.54 | 1.01 | 1.74 | (14.15) | 5.70 |
| Net Income | 12.93 | 12.72 | 6.69 | 21.79 | 15.86 |
| Net Margin % | 24.4% | 25.6% | 13.0% | 44.8% | 26.9% |
| Diluted EPS | $2.40 | $2.37 | $1.25 | $4.11 | $2.21 |
| Basic EPS | $2.42 | $2.39 | $1.26 | $4.13 | $2.21 |
| Diluted Avg Shares | 5.4 | 5.4 | 5.3 | 5.3 | 7.2 |
| Basic Avg Shares | 5.3 | 5.3 | 5.3 | 5.3 | 7.2 |
| 1/31/26 | 10/31/25 | 7/31/25 | 4/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 50.00 | 44.62 | 48.94 | 39.47 |
| Receivables | 0.00 | — | — | — |
| Net PPE | 2.18 | 2.19 | 2.17 | 2.19 |
| Operating Lease ROU | — | — | — | 0.04 |
| Other Assets | 91.77 | 93.32 | 89.55 | 92.08 |
| Total Assets | 143.94 | 140.13 | 140.66 | 133.78 |
| Long-term Debt | 0.02 | 0.02 | 0.03 | 0.03 |
| Other Liabilities | 4.54 | 4.08 | 5.91 | 3.79 |
| Total Liabilities | 4.57 | 4.11 | 5.93 | 3.81 |
| Retained Earnings | 105.06 | 101.92 | 100.72 | 96.02 |
| Total Equity | 139.38 | 136.03 | 134.73 | 129.96 |
| LTM | 4/30/25 | 4/30/24 | 4/30/23 | 4/30/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 50.00 | 39.47 | 29.69 | 19.99 | 15.72 |
| Short-term Investments | — | — | — | 0.00 | — |
| Receivables | 0.00 | — | — | — | — |
| Net PPE | 2.18 | 2.19 | 1.74 | 1.35 | 1.27 |
| Operating Lease ROU | — | 0.04 | 0.07 | 0.09 | 0.12 |
| Other Assets | 91.77 | 92.08 | 91.33 | 94.46 | 77.81 |
| Total Assets | 143.94 | 133.78 | 122.83 | 115.89 | 94.92 |
| Long-term Debt | 0.02 | 0.03 | 0.04 | 0.04 | 2.03 |
| Other Liabilities | 4.54 | 3.79 | 4.75 | 4.85 | 9.72 |
| Total Liabilities | 4.57 | 3.81 | 4.78 | 4.89 | 11.76 |
| Retained Earnings | 105.06 | 96.02 | 83.31 | 76.62 | 54.83 |
| Total Equity | 139.38 | 129.96 | 118.05 | 111.00 | 83.16 |
| 1/31/26 | 10/31/25 | 7/31/25 | 4/30/25 | |
|---|---|---|---|---|
| Net Income | 3.15 | 1.20 | 4.69 | 3.89 |
| D&A | — | 0.08 | 0.08 | 0.05 |
| Stock-Based Comp | — | 0.12 | 0.10 | 0.09 |
| Δ Working Cap & Other | — | (5.65) | 4.66 | (1.06) |
| Operating Cash Flow | — | (4.25) | 9.53 | 2.97 |
| CapEx | — | (0.06) | (0.02) | (0.44) |
| Investing Cash Flow | — | (0.06) | (0.02) | (0.44) |
| Financing Cash Flow | — | (0.00) | (0.00) | (0.00) |
| Free Cash Flow | — | (4.31) | 9.51 | 2.53 |
| LTM | 4/30/25 | 4/30/24 | 4/30/23 | 4/30/22 | |
|---|---|---|---|---|---|
| Net Income | 12.93 | 12.72 | 6.69 | 21.79 | 15.86 |
| D&A | — | 0.18 | 0.15 | 0.06 | 0.23 |
| Stock-Based Comp | — | 0.42 | 0.32 | 0.24 | 0.22 |
| Δ Working Cap & Other | — | (3.08) | 3.56 | (15.70) | (0.83) |
| Operating Cash Flow | — | 10.24 | 10.71 | 6.39 | 15.48 |
| CapEx | — | (0.58) | (0.46) | (0.13) | (1.29) |
| Investing Cash Flow | — | (0.55) | (0.46) | (0.13) | (1.20) |
| Stock Issuance | — | — | — | — | (0.03) |
| Stock Buyback | — | — | — | 0.00 | (21.90) |
| Other Financing | — | — | — | (1.99) | (1.43) |
| Financing Cash Flow | — | (0.01) | (0.01) | (1.99) | (23.36) |
| Free Cash Flow | — | 9.66 | 10.26 | 6.26 | 14.19 |
| 1/31/26 | 10/31/25 | 7/31/25 | 4/30/25 | |
|---|---|---|---|---|
| Current Ratio | — | — | — | — |
| Quick Ratio | — | — | — | — |
| Debt / Equity | 0.03 | 0.03 | 0.04 | 0.03 |
| EBITDA Margin % | — | 12.8% | 34.9% | 32.1% |
| Working Capital | — | — | — | — |
| Net Debt | (49.98) | (44.60) | (48.91) | (39.44) |
| ROE % | 2.3% | 0.9% | 3.5% | 3.0% |
| ROA % | 2.2% | 0.9% | 3.3% | 2.9% |
| LTM | 4/30/25 | 4/30/24 | 4/30/23 | 4/30/22 | |
|---|---|---|---|---|---|
| Current Ratio | — | — | — | — | — |
| Quick Ratio | — | — | — | — | — |
| Debt / Equity | 0.03 | 0.03 | 0.04 | 0.04 | 0.14 |
| EBITDA Margin % | — | 24.7% | 15.1% | 12.1% | 36.5% |
| Working Capital | — | — | — | — | — |
| Net Debt | (49.98) | (39.44) | (29.66) | (19.95) | (13.69) |
| ROE % | 9.3% | 9.8% | 5.7% | 19.6% | 19.1% |
| ROA % | 9.0% | 9.5% | 5.4% | 18.8% | 16.7% |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-06-24 | DAHL JAMES H | 10% Owner | 2026-06-22 | P | 3,075 | $25.58 | $78,667 |
| 2026-06-04 | DAHL JAMES H | 10% Owner | 2026-06-02 | P | 1,500 | $26.62 | $39,934 |
| 2026-05-29 | DAHL JAMES H | 10% Owner | 2026-05-29 | P | 3,000 | $25.67 | $77,016 |
| 2026-05-29 | DAHL JAMES H | 10% Owner | 2026-05-29 | P | 1,000 | $27.63 | $27,630 |
| 2026-05-22 | DAHL JAMES H | 10% Owner | 2026-05-20 | P | 5,000 | $24.50 | $122,491 |
| 2026-05-15 | DAHL JAMES H | 10% Owner | 2026-05-13 | P | 1,156 | $24.72 | $28,581 |
| 2026-05-01 | DAHL JAMES H | 10% Owner | 2026-05-01 | P | 3,000 | $27.85 | $83,550 |
| 2026-05-01 | DAHL JAMES H | 10% Owner | 2026-04-29 | P | 5,000 | $27.74 | $138,706 |
| 2026-04-22 | McNaney Timothy S | Director | 2026-04-21 | P | 1,765 | $28.17 | $49,720 |
| 2026-04-20 | DAHL JAMES H | 10% Owner | 2026-04-20 | P | 1,519 | $27.25 | $41,393 |
| 2026-04-20 | DAHL JAMES H | 10% Owner | 2026-04-17 | P | 1,000 | $27.66 | $27,658 |
| 2026-04-02 | DAHL JAMES H | 10% Owner | 2026-03-31 | P | 2,060 | $27.92 | $57,521 |
| 2026-03-27 | DAHL JAMES H | 10% Owner | 2026-03-26 | P | 1,800 | $25.44 | $45,784 |
| 2026-03-27 | DAHL JAMES H | 10% Owner | 2026-03-26 | P | 300 | $26.05 | $7,815 |
| 2026-03-27 | DAHL JAMES H | 10% Owner | 2026-03-26 | P | 1,900 | $27.16 | $51,612 |
| 2026-03-27 | DAHL JAMES H | 10% Owner | 2026-03-02 | P | 3,200 | $25.69 | $82,220 |
| 2026-03-04 | DAHL JAMES H | 10% Owner | 2026-03-03 | P | 3,200 | $25.69 | $82,220 |
| 2026-02-27 | DAHL JAMES H | 10% Owner | 2026-02-27 | P | 876 | $25.65 | $22,472 |
| 2026-02-27 | DAHL JAMES H | 10% Owner | 2026-02-27 | P | 1,124 | $26.23 | $29,487 |
| 2026-02-27 | DAHL JAMES H | 10% Owner | 2026-02-26 | P | 5,000 | $25.67 | $128,356 |
| 2026-02-20 | DAHL JAMES H | 10% Owner | 2026-02-19 | P | 416 | $26.11 | $10,861 |
| 2026-02-20 | DAHL JAMES H | 10% Owner | 2026-02-19 | P | 884 | $26.49 | $23,414 |
| 2026-02-19 | DAHL JAMES H | 10% Owner | 2026-02-18 | P | 3,212 | $25.04 | $80,425 |
| 2026-02-19 | DAHL JAMES H | 10% Owner | 2026-02-18 | P | 788 | $25.75 | $20,289 |
| 2026-02-19 | DAHL JAMES H | 10% Owner | 2026-02-17 | P | 4,411 | $24.53 | $108,193 |
| 2026-02-19 | DAHL JAMES H | 10% Owner | 2026-02-17 | P | 2,431 | $25.50 | $61,990 |
| 2026-02-13 | DAHL JAMES H | 10% Owner | 2026-02-12 | P | 3,960 | $23.64 | $93,633 |
| 2026-02-13 | DAHL JAMES H | 10% Owner | 2026-02-12 | P | 398 | $24.32 | $9,681 |
| 2026-02-12 | DAHL JAMES H | 10% Owner | 2026-02-11 | P | 2,303 | $23.34 | $53,759 |
| 2026-02-12 | DAHL JAMES H | 10% Owner | 2026-02-11 | P | 697 | $23.95 | $16,692 |
| 2026-02-12 | DAHL JAMES H | 10% Owner | 2026-02-10 | P | 3,636 | $21.12 | $76,801 |
| 2026-02-12 | DAHL JAMES H | 10% Owner | 2026-02-10 | P | 2,488 | $22.29 | $55,462 |
| 2026-01-05 | RUSSO ALBERT | Director | 2025-12-31 | A | 1,595 | — | $0 |
| 2026-01-05 | CLOUES EDWARD B II | Director | 2025-12-31 | A | 1,595 | — | $0 |
| 2026-01-02 | ROBOTTI ROBERT | Director | 2025-12-31 | A | 1,595 | — | $0 |
| 2025-07-21 | Uleau Adrienne | Officer (CFO And VP) | 2025-07-17 | A | 2,100 | — | $0 |
| 2025-07-21 | Vitale Christopher V | Officer (President and CEO) | 2025-07-17 | A | 8,000 | — | $0 |
| 2025-01-03 | CLOUES EDWARD B II | Director | 2024-12-31 | A | 955 | — | $0 |
| 2025-01-03 | RUSSO ALBERT | Director | 2024-12-31 | A | 955 | — | $0 |
| 2025-01-02 | ROBOTTI ROBERT | Director | 2024-12-31 | A | 955 | — | $0 |
| 2024-12-23 | ROBOTTI ROBERT | Director | 2024-12-20 | S | (179) | $31.56 | -$5,649 |
| 2024-12-23 | ROBOTTI ROBERT | Director | 2024-12-20 | S | (12,821) | $31.56 | -$404,604 |
| 2024-12-20 | ROBOTTI ROBERT | Director | 2024-12-19 | S | (357) | $31.24 | -$11,153 |
| 2024-12-20 | ROBOTTI ROBERT | Director | 2024-12-19 | S | (17,496) | $31.24 | -$546,587 |
| 2024-12-20 | ROBOTTI ROBERT | Director | 2024-12-18 | S | (4) | $31.75 | -$127 |
| 2024-12-20 | ROBOTTI ROBERT | Director | 2024-12-18 | S | (197) | $31.75 | -$6,255 |
| 2024-10-04 | DAHL JAMES H | 10% Owner | 2024-10-04 | P | 1,800 | $29.95 | $53,906 |
| 2024-09-27 | DAHL JAMES H | 10% Owner | 2024-09-27 | P | 2,000 | $29.70 | $59,396 |
| 2024-09-24 | DAHL JAMES H | 10% Owner | 2024-09-24 | P | 3,000 | $30.75 | $92,250 |
| 2024-08-29 | DAHL JAMES H | 10% Owner | 2024-08-27 | P | 4,000 | $23.15 | $92,600 |
| 2024-08-16 | DAHL JAMES H | 10% Owner | 2024-08-15 | P | 3,132 | $22.75 | $71,253 |
| 2024-08-09 | DAHL JAMES H | 10% Owner | 2024-08-08 | P | 5,000 | $23.48 | $117,383 |
| 2024-08-02 | DAHL JAMES H | 10% Owner | 2024-08-01 | P | 10,000 | $25.60 | $256,000 |
| 2024-07-22 | Vitale Christopher V | Officer (President and CEO) | 2024-07-18 | A | 7,200 | — | $0 |
| 2024-07-22 | Uleau Adrienne | Officer (VP, Finance and Accounting) | 2024-07-18 | A | 1,890 | — | $0 |
| 2024-07-12 | DAHL JAMES H | 10% Owner | 2024-07-11 | P | 7,000 | $20.10 | $140,671 |
| 2024-07-10 | DAHL JAMES H | 10% Owner | 2024-07-10 | P | 100 | $19.79 | $1,979 |
| 2024-07-10 | DAHL JAMES H | 10% Owner | 2024-07-10 | P | 107 | $19.80 | $2,119 |
| 2024-07-10 | DAHL JAMES H | 10% Owner | 2024-07-08 | P | 7 | $18.60 | $130 |