Tearsheet

American Battery Technology (ABAT)

Market Price (12/23/2025): $4.18 | Market Cap: $469.2 Mil
Sector: Industrials | Industry: Environmental & Facilities Services

American Battery Technology (ABAT)

Market Price (12/23/2025): $4.18
Market Cap: $469.2 Mil
Sector: Industrials
Industry: Environmental & Facilities Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 821%	Weak multi-year price returns 2Y Excs Rtn is -73%, 3Y Excs Rtn is -123%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -42 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -843%
1	Megatrend and thematic drivers Megatrends include Circular Economy & Recycling, Battery Technology & Metals, and Renewable Energy Transition. Themes include Advanced Recycling Technologies, Show more.	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%	Expensive valuation multiples P/SPrice/Sales ratio is 93x
2			Stock price has recently run up significantly 6M Rtn6 month market price return is 238%, 12M Rtn12 month market price return is 275%
3			Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 274%
4			Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -607%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -655%
5			Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 169%
6			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14%
7			High stock price volatility Vol 12M is 159%
8			Key risks ABAT key risks include [1] substantial doubt from its auditors about the company's ability to continue as a going concern, Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 821%
1	Megatrend and thematic drivers Megatrends include Circular Economy & Recycling, Battery Technology & Metals, and Renewable Energy Transition. Themes include Advanced Recycling Technologies, Show more.
2	Weak multi-year price returns 2Y Excs Rtn is -73%, 3Y Excs Rtn is -123%
3	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
4	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -42 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -843%
5	Expensive valuation multiples P/SPrice/Sales ratio is 93x
6	Stock price has recently run up significantly 6M Rtn6 month market price return is 238%, 12M Rtn12 month market price return is 275%
7	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 274%
8	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -607%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -655%
9	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 169%
10	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14%
11	High stock price volatility Vol 12M is 159%
12	Key risks ABAT key risks include [1] substantial doubt from its auditors about the company's ability to continue as a going concern, Show more.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022
Share Price CYE	$4.18	$2.46	$4.69	$6.10
Market Cap CYE ($ Mil)	469.2	185.3	224.0	263.7
Total Debt ($ Mil)	0.3	8.0	6.5	6.2
Total Cash ($ Mil)	30.1	7.5	7.0	2.3
Enterprise Value ($ Mil)	439.3	193.3	230.5	269.9
Valuation Ratios
P/S TTM	93.4	46.1	699.7	-
P/EBIT TTM	-9.9	-4.2	-4.6	-12.1
P/E TTM	-10.3	-4.2	-4.6	-12.0
P/FCF TTM	-14.3	-6.3	-8.2	-9.5
Sector Ratios
P/S TTM (Sector)	1.6	1.5	1.4	1.1
P/EBIT TTM (Sector)	12.7	11.8	11.2	9.1
P/E TTM (Sector)	17.1	16.5	15.4	12.1
P/FCF TTM (Sector)	13.3	13.3	12.1	8.5

	12/23/25	2024	2023
Share Price CYE	$4.18	$2.46	$4.69
Market Cap CYE ($ Mil)	469.2	185.3	224.0
Total Debt ($ Mil)	0.3	8.0	6.5
Total Cash ($ Mil)	30.1	7.5	7.0
Enterprise Value ($ Mil)	439.3	193.3	230.5
Valuation Ratios
P/S TTM	93.4	46.1	699.7
P/EBIT TTM	-9.9	-4.2	-4.6
P/E TTM	-10.3	-4.2	-4.6
P/FCF TTM	-14.3	-6.3	-8.2
Sector Ratios
P/S TTM (Sector)	1.6	1.5	1.4
P/EBIT TTM (Sector)	12.7	11.8	11.2
P/E TTM (Sector)	17.1	16.5	15.4
P/FCF TTM (Sector)	13.3	13.3	12.1

	ABAT	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.0
Rev Chg Q	364.2%	7.3%
Rev Chg LTM	821.4%	6.0%
Rev Chg 3Y Avg	821.4%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	-0.0
Net Inc LTM ($ Bil)	-0.0
Op Mgn LTM	-842.7%	18.8%
CFO/Rev LTM	-607.0%	20.4%
Net Inc Mgn	-902.7%	13.1%
VALUATION	VERY HIGH
P/S	93.4	3.2
P/CFO	-15.4	15.5
P/FCF	-14.3	20.7
P/E	-10.3	23.5
STABILITY	VERY GOOD
Debt/Equity	0.00	0.21
Cash/Assets	0.30	0.07

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Metric	Value	Date	Source
Recycling Facility Throughput Increase (Quarter-over-Quarter)	70%	9222025	Link
Recycling Throughput Increase (vs. Previous Quarter)	120%	5162025	Link
Planned Second Recycling Facility Annual Capacity	100,000 tonnes	12182024	Link
Government Grant for Second Recycling Facility	$144,000,000	12182024	Link
Government Grant for Next-Generation Recycling Technologies	$20,000,000	9272023	Link
Projected Annual Lithium Hydroxide Production (Tonopah Flats)	30,000 tonnes	6182024	Link
Strategic Partnership for Offtake	BASF	12182024	Link
Number of Patent Applications (Recent)	2	3302023	Link

Upcoming
2/13/2026	Earnings Release	Rev: - EPS: -

ABAT Stock

Return (1M):

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Why The Stock Moved

Qualitative Assessment

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Between August 31, 2025, and December 23, 2025, American Battery Technology (ABAT) experienced significant stock movement driven by several key positive developments. These included strong financial results, major project advancements, strategic partnerships, and government support for its battery recycling and critical mineral initiatives.

1. Significant Revenue Growth and Operational Efficiencies: ABAT reported substantial revenue increases in its fiscal Q4 2025 and Q1 FY2026. For Q4 FY 2025, revenue nearly tripled to $2.8 million, a 183% increase from the previous quarter, with full-year fiscal 2025 revenue reaching $4.3 million, an increase of 1,149% from FY 2024. The company also demonstrated strong cost control, with cash cost of goods sold rising by only 70% in Q4 FY2025 compared to a 183% revenue increase, indicating improved operational efficiencies and a trajectory towards profitability. Furthermore, total operating expenses for FY 2025 decreased by 30% to $31.4 million, even as operations scaled.

2. Major Milestones for Tonopah Flats Lithium Project: The company made significant progress on its Tonopah Flats Lithium Project. In October 2025, ABTC published the S-K 1300 Technical Report and Pre-Feasibility Study (PFS) for the project, indicating a projected after-tax net present value (NPV) of $2.57 billion at an 8% discount rate, with a 21.8% IRR and a 7.5-year payback from initial investment. Additionally, in October 2025, ABAT announced the completion and submission of all 21 required baseline studies for the Tonopah Flats Lithium Project to the U.S. Bureau of Land Management (BLM), a crucial step in the National Environmental Policy Act (NEPA) review process. In August 2025, the project was approved as a FAST-41 Covered Project, prioritizing and streamlining its permitting and commercialization.

Show more Between August 31, 2025, and December 23, 2025, American Battery Technology (ABAT) experienced significant stock movement driven by several key positive developments. These included strong financial results, major project advancements, strategic partnerships, and government support for its battery recycling and critical mineral initiatives.

1. Significant Revenue Growth and Operational Efficiencies: ABAT reported substantial revenue increases in its fiscal Q4 2025 and Q1 FY2026. For Q4 FY 2025, revenue nearly tripled to $2.8 million, a 183% increase from the previous quarter, with full-year fiscal 2025 revenue reaching $4.3 million, an increase of 1,149% from FY 2024. The company also demonstrated strong cost control, with cash cost of goods sold rising by only 70% in Q4 FY2025 compared to a 183% revenue increase, indicating improved operational efficiencies and a trajectory towards profitability. Furthermore, total operating expenses for FY 2025 decreased by 30% to $31.4 million, even as operations scaled.

2. Major Milestones for Tonopah Flats Lithium Project: The company made significant progress on its Tonopah Flats Lithium Project. In October 2025, ABTC published the S-K 1300 Technical Report and Pre-Feasibility Study (PFS) for the project, indicating a projected after-tax net present value (NPV) of $2.57 billion at an 8% discount rate, with a 21.8% IRR and a 7.5-year payback from initial investment. Additionally, in October 2025, ABAT announced the completion and submission of all 21 required baseline studies for the Tonopah Flats Lithium Project to the U.S. Bureau of Land Management (BLM), a crucial step in the National Environmental Policy Act (NEPA) review process. In August 2025, the project was approved as a FAST-41 Covered Project, prioritizing and streamlining its permitting and commercialization.

3. Substantial Government Funding and Support: ABAT secured significant government backing, including a $144 million competitive grant from the U.S. Department of Energy (DOE) for the construction of a second battery recycling facility. This facility is designed to have five times the throughput of the first plant, expanding ABAT's processing capacity to approximately 100,000 tonnes per year of battery materials. The company also received a $900 million Letter of Interest from the U.S. Export-Import Bank for a low-interest loan to support the construction of its commercial lithium mine and refinery for the Tonopah Flats project.

4. Strategic Partnerships and Contract Wins: In September 2025, ABTC announced a strategic partnership with Call2Recycle, the nation's largest consumer battery stewardship and collection program, to expand consumer lithium-ion battery recycling across the U.S., adding a direct-to-consumer recycling channel. In November 2025, ABTC was awarded a contract and began receiving material from a grid-scale battery energy storage system (BESS) as part of the largest lithium-ion battery cleanup operation in U.S. Environmental Protection Agency (EPA) history. The estimated value of recycled products from this site could reach approximately $30 million.

5. Inclusion in Russell 2000 Index: American Battery Technology Company was added to the Russell 2000 index in June 2025. This inclusion typically results in a significant increase in trading volume and institutional ownership, broadening the company's investor base and potentially contributing to stock appreciation. Show less

Stock Movement Drivers

Fundamental Drivers

The 10.3% change in ABAT stock from 9/22/2025 to 12/22/2025 was primarily driven by a 17.1% change in the company's Total Revenues ($ Mil).

	9222025	12222025	Change
Stock Price ($)	3.77	4.16	10.34%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4.29	5.03	17.15%
P/S Multiple	80.50	92.90	15.41%
Shares Outstanding (Mil)	91.61	112.24	-22.52%
Cumulative Contribution			4.75%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
ABAT	10.3%
Market (SPY)	2.7%	28.5%
Sector (XLI)	2.6%	37.5%

Fundamental Drivers

The 238.2% change in ABAT stock from 6/23/2025 to 12/22/2025 was primarily driven by a 170.5% change in the company's Total Revenues ($ Mil).

	6232025	12222025	Change
Stock Price ($)	1.23	4.16	238.21%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1.86	5.03	170.52%
P/S Multiple	56.33	92.90	64.91%
Shares Outstanding (Mil)	85.09	112.24	-31.91%
Cumulative Contribution			203.78%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
ABAT	238.2%
Market (SPY)	14.4%	29.4%
Sector (XLI)	9.6%	34.0%

Fundamental Drivers

The 274.8% change in ABAT stock from 12/22/2024 to 12/22/2025 was primarily driven by a 821.4% change in the company's Total Revenues ($ Mil).

	12222024	12222025	Change
Stock Price ($)	1.11	4.16	274.77%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	0.55	5.03	821.40%
P/S Multiple	141.47	92.90	-34.33%
Shares Outstanding (Mil)	69.52	112.24	-61.45%
Cumulative Contribution			133.25%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
ABAT	274.8%
Market (SPY)	16.9%	23.8%
Sector (XLI)	19.2%	23.2%

Fundamental Drivers

The -42.2% change in ABAT stock from 12/23/2022 to 12/22/2025 was primarily driven by a -161.4% change in the company's Shares Outstanding (Mil).

	12232022	12222025	Change
Stock Price ($)	7.19	4.16	-42.16%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	0.00	5.03	∞%
P/S Multiple	∞	92.90	-100.00%
Shares Outstanding (Mil)	42.94	112.24	-161.37%
Cumulative Contribution			�

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
ABAT	-25.2%
Market (SPY)	47.7%	21.9%
Sector (XLI)	42.3%	20.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
ABAT Return	4275%	-24%	-62%	-23%	-48%	61%	727%
Peers Return	�	187%	17%	-29%	-52%	62%	�
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
ABAT Win Rate	75%	25%	33%	42%	25%	67%
Peers Win Rate	63%	43%	52%	42%	38%	50%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
ABAT Max Drawdown	-22%	-31%	-62%	-36%	-84%	-63%
Peers Max Drawdown	�	-18%	-37%	-43%	-65%	-44%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: AQMS, ALB, SGML, MP, LAC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	ABAT	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-93.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	1467.3%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-72.0%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	256.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	82 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-92.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	1182.1%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	361 days	120 days

Compare to CWST, GEO, CECO, FTEK, YDDL

In The Past

American Battery Technology's stock fell -93.6% during the 2022 Inflation Shock from a high on 1/25/2021. A -93.6% loss requires a 1467.3% gain to breakeven.

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About American Battery Technology (ABAT)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

American Battery Technology Company engages in the exploration, mining, extraction, and recycling of battery metals. The company owns 644 placer mining claims on approximately 12,880 acres in the Western Nevada Basin, located in Railroad Valley in Nye County, Nevada. It also owns a 120-acre parcel of private property with water rights, in the town of Currant, Nevada near Railroad Valley. The company was formerly known as American Battery Metals Corporation and changed its name to American Battery Technology Company in October 2021. American Battery Technology Company was founded in 2011 and is headquartered in Reno, Nevada.

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Battery Recycling: ABAT develops and commercializes processes for the efficient and sustainable recycling of lithium-ion batteries from electric vehicles and other applications.
Primary Battery Mineral Extraction: The company is developing innovative methods to extract and refine primary battery minerals like lithium from domestic resources.
Battery Material Manufacturing: ABAT focuses on producing critical battery materials, such as lithium hydroxide, nickel, cobalt, and manganese, suitable for reintroduction into the battery manufacturing supply chain.

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American Battery Technology (symbol: ABAT) primarily sells its products and services to other companies (B2B) in the battery and electric vehicle supply chain, rather than directly to individuals. Its business model focuses on lithium-ion battery recycling, primary lithium manufacturing, and battery metal purification.

The company is currently scaling its operations, and its major customers and strategic partners include:

Ford Motor Company (Symbol: NYSE: F): Ford is a key strategic partner for ABAT. In late 2023, ABAT and Ford announced a joint venture to build a commercial-scale facility in Nevada to recycle lithium-ion batteries for electric vehicles. Through this partnership, Ford will be a significant off-taker and user of the recycled battery materials produced.
BASF SE (Symbol: OTCQX: BASFY): ABAT has a multi-year agreement with BASF, a global chemical company and major battery materials producer, to recycle BASF's manufacturing scrap from its North American battery cathode production facility. This represents a direct B2B customer relationship for recycling services.

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Ryan Melsert, Chief Executive Officer, Chief Technology Officer, and Director

Ryan Melsert was appointed CEO of American Battery Technology Company (ABTC) in October 2019. He brings over 20 years of multidisciplinary expertise in technology development and business. Melsert co-founded M2 Thermal Solutions LLC, an engineering design firm. Previously, he served as R&D Manager for Tesla's Gigafactory Battery Materials Processing group, where he was one of the founding design engineers for the battery manufacturing Gigafactory and later led an R&D team. His experience also includes roles as R&D Manager at Southern Research, leading the design and development of energy systems and receiving Department of Energy grants. He also held positions at Lockheed Martin, GE, and Bechtel. Melsert holds a Ph.D. and M.S. in Mechanical Engineering from Georgia Institute of Technology, an MBA from Georgia Tech Scheller College of Business, and a B.S. in Mechanical Engineering from Penn State University.

Paul McGarry, Interim Chief Financial Officer

Paul McGarry is set to become the Interim Chief Financial Officer of American Battery Technology Company, effective February 1, 2025, following the retirement of Jesse Deutsch. Currently, he serves as the company's Controller. Prior to joining ABTC, McGarry was the Senior Vice President, Finance and Chief Accounting Officer at Rockwell Medical Inc., where he was involved in multiple financings and commercial product launches. He also worked as Corporate Financial Controller at Alyvant, Inc., and oversaw financial operations at Champions Oncology Inc. His early career includes an Audit Manager position at Deloitte & Touche LLP. McGarry is a Certified Public Accountant in New York and holds a B.S. in Accounting from Pennsylvania State University.

Steven Wu, Chief Operating Officer

Steven Wu was appointed Chief Operating Officer of American Battery Technology Company on August 26, 2024. He brings an extensive background in successfully scaling first-of-kind technologies into high-volume manufacturing operations from his previous companies. Wu's prior experience includes serving as the Director of Product and Programs at Rivian, where he led efforts to ramp products and manage partnerships with key customers and suppliers. He also worked at the autonomous vehicle startup Nuro.

Scott Jolcover, Chief Resource Officer

Scott Jolcover serves as the Chief Resource Officer for American Battery Technology Company. He possesses over 40 years of extensive experience across various sectors, including mining, drilling, water resources, real estate, permitting, mergers, acquisitions, business development, and commercial transactions. Jolcover's previous roles include Director of Business Development, General Manager, and Director at Comstock Mining Inc. He also served as President of Hard Rock Nevada, Inc. and Virginia City Ventures, Inc. He holds an Associate's degree in Automotive Technology from Southern Illinois University, Carbondale.

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The key risks for American Battery Technology (symbol: ABAT) are primarily centered around its financial viability, regulatory challenges, and operational execution in a capital-intensive industry.

Ability to Continue as a Going Concern and Achieve Sustained Profitability: American Battery Technology faces significant challenges related to its financial health. The company has a history of unprofitability, reporting substantial net losses, negative gross and net margins, and an accumulated deficit of $260.1 million. Auditors have expressed "substantial doubt about our ability to continue as a going concern". ABAT is in a development stage and relies heavily on external financing and equity issuances, which can lead to shareholder dilution. The company's ability to maintain sufficient funding until its recycling and lithium extraction businesses become profitable is a critical risk.
Regulatory and Funding Risks, including Grant Termination: The termination of a significant Department of Energy (DOE) grant has created considerable uncertainty and financial pressure for ABAT, causing a notable drop in its stock price. This event raised concerns about the company's compliance frameworks and overall business ethics. While the company is appealing the decision, such regulatory setbacks directly impact funding for critical projects and highlight the ongoing challenge of securing and maintaining essential capital.
Operational and Execution Challenges: ABAT operates in a capital-intensive industry and faces several operational risks. These include the risk that products from its projects may not consistently meet battery-grade quality or customer specifications, which could lead to reduced pricing and loss of customers. Furthermore, the company faces inherent challenges related to innovation, new product development, its reliance on technology, and securing necessary permits for exploration, development, and production. Managing the capital intensity of its projects and mitigating the impact of fluctuating mineral and commodity prices are also significant operational hurdles.

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The rapid emergence and market consolidation by well-capitalized and vertically integrated competitors, notably companies like Redwood Materials, poses a clear emerging threat to American Battery Technology (ABAT). These competitors are quickly establishing dominant positions by securing significant funding, forging exclusive, long-term partnerships with major automotive OEMs and battery manufacturers (e.g., Ford, Volkswagen, Toyota, Panasonic), and rapidly scaling their battery recycling and critical mineral production facilities. This trend could severely limit ABAT's access to sufficient feedstock (end-of-life batteries) for its recycling operations and restrict its ability to secure off-take agreements for the battery materials it aims to produce, effectively cornering key market segments before ABAT can fully commercialize and scale its own technologies.

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American Battery Technology Company (ABAT) operates in three primary market segments: lithium-ion battery recycling, primary battery metal extraction, and battery manufacturing (specifically battery-grade materials).

Lithium-ion Battery Recycling: The global lithium-ion battery recycling market was valued at approximately $7.2 billion in 2024 and is projected to reach $46.4 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of over 20.6%. For the U.S. alone, this market was valued at $900 million in 2024.
Primary Battery Metal Extraction (Lithium): The global lithium market size was estimated at $5.17 billion in 2024 and is projected to grow from $5.589 billion in 2025 to $12.18 billion by 2035, exhibiting a CAGR of 8.1%. North America currently holds the largest share of the lithium market.
Battery Manufacturing (Battery-Grade Critical Materials): The global critical minerals market, which includes battery-grade materials such as lithium, cobalt, and nickel, reached approximately $328.19 billion in 2024 and is expected to grow to $586.63 billion by 2032, at a CAGR of 7.53%. The Asia-Pacific region held a significant share of this market, valued at around $97.73 billion in 2022.

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American Battery Technology Company (ABAT) is anticipated to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

Expansion of Battery Recycling Operations: ABAT has demonstrated substantial revenue growth from its existing battery recycling facility. The company received a $144 million grant from the U.S. Department of Energy (DOE) for the construction of a second battery recycling facility in the Southeast U.S., indicating a significant planned expansion of its processing capacity and market reach.
Commercialization of the Tonopah Flats Lithium Project: The company is advancing its Tonopah Flats Lithium Project in Nevada, which focuses on the commercial production of primary battery-grade lithium. ABAT has completed baseline studies and a pre-feasibility study (PFS) for this project, which outlines significant production capacity and economic viability. Furthermore, the project has garnered support, including a $900 million loan interest letter from the US Export-Import Bank for its commercial construction.
Increasing Demand for Battery Materials and Recycling Services: The rapidly growing electric vehicle (EV), stationary energy storage, and consumer electronics markets are fueling a strong demand for both recycled battery materials and new critical minerals. ABAT's focus on innovative battery recycling and primary mineral extraction technologies positions it to capitalize on this expanding market.
Strategic Partnerships and Offtake Agreements: ABAT is establishing strategic partnerships, such as with Call2Recycle to broaden consumer lithium-ion battery recycling across the U.S.. The company is also securing customer offtake agreements for the lithium produced from its Tonopah Flats project, which are crucial for guaranteeing future sales and revenue streams.

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Share Issuance

American Battery Technology (ABAT) raised $21.9 million through its at-the-market (ATM) offering during the first quarter of fiscal year 2026, with aggregate gross proceeds increasing to $23.6 million after the quarter ended on September 30, 2025.
During fiscal year 2025, ABAT issued equity and converted debt into common shares, which led to approximately 97.4 million shares outstanding as of June 30, 2025. The company also had $36.94 million in financing activities for the year, including proceeds from equity offerings and warrant exercises.
In April 2024, the company filed for an at-the-market (ATM) equity offering to sell up to $50 million in common stock.

Inbound Investments

ABAT secured a $144 million federal grant from the U.S. Department of Energy to support the development of a second battery recycling facility.
The company received approximately $40 million and $20 million in tax credit awards under the 48C Qualifying Energy Project Credit program for capital expenditures toward its second and first lithium-ion battery recycling facilities, respectively.
ABAT also received a letter of interest for up to $900 million in potential financing from the Export-Import Bank of the United States.

Capital Expenditures

American Battery Technology utilized $2.55 million in cash for investing activities during fiscal year 2025.
The primary focus of capital expenditures includes the construction and development of battery recycling facilities and a commercial-scale lithium hydroxide refinery.
Capital expenditures were significantly reduced in the second quarter of fiscal year 2025 as the company's initial recycling plant near Reno, Nevada, was constructed, and the focus shifted towards operations.

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What You Pay
P/E	-10.3	20.0	33.4	25.9	10.4	39.0	38.0	36.5	30.6	70.3	36.5
P/EBIT	-9.9	9.6	22.8	17.8	5.2	39.0	27.3	18.0	14.9	20.8	28.1
What You Get
Rev Chg Q	364.2%	8.4%	5.9%	18.3%	4.4%	-2.3%	12.5%	11.5%	2.3%	16.1%	21.5%
Rev Chg LTM	821.4%	10.7%	7.3%	12.4%	6.3%	13.5%	13.3%	11.2%	27.9%	8.5%	14.9%
Rev Chg 3Y Avg	�	10.3%	13.4%	7.9%	3.4%	26.9%	21.4%	17.7%	9.4%	9.1%	11.3%
FCF/Rev 3Y Avg	�	39.2%	33.2%	32.6%	24.7%	24.5%	21.5%	21.0%	20.1%	19.0%	18.9%

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	American Battery Technology Earnings Notes
2	American Battery Technology Stock Jump Looks Great, But How Secure Is That Gain?	Return
3	Day 7 of Gains Streak for American Battery Technology Stock with 132% Return (vs. 361% YTD) [10/14/2025]	Notification
4	Day 6 of Gains Streak for American Battery Technology Stock with 89% Return (vs. 275% YTD) [10/13/2025]	Notification
5	Day 5 of Gains Streak for American Battery Technology Stock with 93% Return (vs. 91% YTD) [9/24/2025]	Notification
6	ARTICLES
7	ABAT Stock Up 93% after 5-Day Win Streak		September 25th, 2025
8	Up 2x Over The Last Month, What’s Driving American Battery Tech Stock?		July 28th, 2025

	Title
0	DASHBOARDS
1	American Battery Technology Earnings Notes
2	American Battery Technology Stock Jump Looks Great, But How Secure Is That Gain?
3	Day 7 of Gains Streak for American Battery Technology Stock with 132% Return (vs. 361% YTD) [10/14/2025]
4	Day 6 of Gains Streak for American Battery Technology Stock with 89% Return (vs. 275% YTD) [10/13/2025]
5	Day 5 of Gains Streak for American Battery Technology Stock with 93% Return (vs. 91% YTD) [9/24/2025]
6	ARTICLES
7	ABAT Stock Up 93% after 5-Day Win Streak
8	Up 2x Over The Last Month, What’s Driving American Battery Tech Stock?

Trade Ideas

Select ideas related to ABAT. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	18.0%	18.0%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.8%	6.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.6%	2.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	3.6%	3.6%	-0.4%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for American Battery Technology

Peers to compare with:

Financials

	ABAT	AQMS	ALB	SGML	MP	LAC	Median
Name	American.	Aqua Met.	Albemarle	Sigma Li.	MP Mater.	Lithium .
Mkt Price	4.16	5.74	145.38	13.50	54.39	4.88	9.62
Mkt Cap	0.5	0.0	17.1	1.5	9.5	1.2	1.3
Rev LTM	5	0	4,946	135	233	0	70
Op Inc LTM	-42	-14	19	-12	-185	-34	-24
FCF LTM	-33	-11	121	-38	-230	-647	-36
FCF 3Y Avg	-30	-17	-281	-50	-225	-335	-137
CFO LTM	-31	-10	904	-20	-78	-55	-25
CFO 3Y Avg	-21	-9	1,291	-14	-1	-38	-11

Growth & Margins

	ABAT	AQMS	ALB	SGML	MP	LAC	Median
Name	American.	Aqua Met.	Albemarle	Sigma Li.	MP Mater.	Lithium .
Rev Chg LTM	821.4%	-	-23.9%	-7.2%	26.4%	-	9.6%
Rev Chg 3Y Avg	-	-	6.2%	-	-18.7%	-	-6.2%
Rev Chg Q	364.2%	-	-3.5%	36.6%	-14.9%	-	16.6%
QoQ Delta Rev Chg LTM	17.1%	-	-0.9%	6.0%	-3.9%	-	2.5%
Op Mgn LTM	-842.7%	-	0.4%	-8.9%	-79.5%	-	-44.2%
Op Mgn 3Y Avg	-	-	-1.3%	-32.3%	-45.2%	-	-32.3%
QoQ Delta Op Mgn LTM	136.8%	-	5.0%	5.7%	-14.5%	-	5.3%
CFO/Rev LTM	-607.0%	-	18.3%	-15.0%	-33.7%	-	-24.4%
CFO/Rev 3Y Avg	-	-	17.1%	-15.6%	-5.3%	-	-5.3%
FCF/Rev LTM	-654.6%	-	2.4%	-28.6%	-98.8%	-	-63.7%
FCF/Rev 3Y Avg	-	-	-4.9%	-50.5%	-99.3%	-	-50.5%

Valuation

	ABAT	AQMS	ALB	SGML	MP	LAC	Median
Name	American.	Aqua Met.	Albemarle	Sigma Li.	MP Mater.	Lithium .
Mkt Cap	0.5	0.0	17.1	1.5	9.5	1.2	1.3
P/S	92.9	-	3.5	11.2	40.9	-	26.0
P/EBIT	-9.9	-0.3	4,052.4	-86.7	-71.1	-4.8	-7.3
P/E	-10.3	-0.3	-808.7	-47.5	-80.9	-4.8	-28.9
P/CFO	-15.3	-0.8	18.9	-74.4	-121.4	-21.0	-18.2
Total Yield	-9.7%	-313.3%	1.0%	-2.1%	-1.2%	-20.8%	-5.9%
Dividend Yield	0.0%	0.0%	1.1%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	-15.6%	-481.2%	-3.1%	-2.6%	-5.4%	-28.9%	-10.5%
D/E	0.0	0.1	0.2	0.1	0.1	0.3	0.1
Net D/E	-0.1	-0.4	0.1	0.1	-0.1	0.0	-0.0

Returns

	ABAT	AQMS	ALB	SGML	MP	LAC	Median
Name	American.	Aqua Met.	Albemarle	Sigma Li.	MP Mater.	Lithium .
1M Rtn	23.4%	-17.5%	24.8%	37.1%	-1.6%	3.0%	13.2%
3M Rtn	10.3%	41.7%	81.4%	115.3%	-25.7%	47.9%	44.8%
6M Rtn	238.2%	-3.1%	153.6%	192.8%	48.8%	90.6%	122.1%
12M Rtn	274.8%	-70.1%	67.4%	22.6%	243.4%	64.3%	65.9%
3Y Rtn	-42.2%	-96.1%	-33.0%	-56.2%	117.4%	-75.8%	-49.2%
1M Excs Rtn	13.3%	-17.6%	20.1%	38.5%	-9.2%	-3.3%	5.0%
3M Excs Rtn	-2.6%	38.4%	78.7%	118.0%	-30.5%	55.6%	47.0%
6M Excs Rtn	219.9%	-14.0%	130.7%	183.8%	42.9%	75.5%	103.1%
12M Excs Rtn	355.6%	-87.4%	46.8%	6.9%	208.0%	49.4%	48.1%
3Y Excs Rtn	-122.6%	-171.8%	-113.4%	-132.3%	9.3%	-155.2%	-127.5%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 6/30	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	6/30/2025	6/30/2024	6/30/2023	6/30/2022	6/30/2021	6/30/2020
Filing Date	11/6/2025	9/18/2025	9/23/2024	9/28/2023	9/12/2022	10/13/2021	9/28/2020
Key Financials
Total Revenue	5	4	0	0	0	0	0
EBITDA	-42	-42	-51	-22	-33	-39	-9
Operating Income	-42	-42	-38	-22	-34	-38	-4
Net Income	-45	-47	-53	-22	-34	-42	-13
EPS	-0.51	-0.58	-1.02	-0.51	-0.80	-1.20	-0.75
Growth Rates
Total Revenue Growth	821.4%	1149.0%	∞%	-	-	-	-
EBITDA Growth	18.3%	17.8%	-131.3%	34.6%	13.9%	-335.0%	11.9%
Operating Income Growth	-7.8%	-12.0%	-67.3%	33.1%	11.0%	-759.1%	58.2%
Net Income Growth	18.0%	10.9%	-136.6%	33.8%	19.7%	-213.6%	-5.5%
Margins
EBITDA Margin	-838.4%	-969.3%	-14720.2%	-	-	-	-
Operating Income Margin	-842.7%	-979.5%	-10921.6%	-	-	-	-
Net Income Margin	-902.7%	-1090.0%	-15284.4%	-	-	-	-
Cash & Debt
Total Cash	30	7	7	2	29	13	1
Total Debt	0	8	7	6	0	0	0
Net Debt / (Cash)	-30	1	-1	4	-29	-13	-0
Cash Flows
Net Cash from Operations	-31	-29	-17	-13	-10	-8	-3
Free Cash from Operations	-33	-31	-29	-28	-25	-15	-3
Returns to Shareholders
Dividends	0	-0	-0	-0	0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 6/30	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	9/18/2025	5/15/2025	2/14/2025	11/14/2024	9/23/2024	5/15/2024	2/14/2024	11/14/2023	9/28/2023	5/15/2023	2/14/2023
Key Financials Quarterly
Total Revenue	1	3	1	0	0	0	0	0	0	0	0	0
Ebitda	-9	-12	-9	-13	-9	-25	-9	-9	-8	-8	-6	-6
Operating Income	-10	-8	-11	-14	-10	-12	-9	-9	-8	-8	-6	-6
Net Income	-10	-10	-11	-13	-12	-23	-10	-10	-9	-8	-6	-6
EPS	-0.09	-0.10	-0.14	-0.18	-0.17	-0.43	-0.19	-0.21	-0.19	-0.18	-0.13	-0.14
Key Financials TTM
Total Revenue TTM	5	4	2	1	1	0	0	0	0	0	0	0
Ebitda TTM	-42	-43	-56	-55	-52	-50	-33	-30	-27	-22	-21	-18
Operating Income TTM	-42	-42	-46	-44	-39	-38	-33	-30	-28	-22	-21	-18
Net Income TTM	-45	-47	-60	-59	-55	-53	-37	-33	-29	-22	-21	-18
Growth Rates Quarterly
Total Revenue Growth	364.2%	708.1%	-	-	-	-	-	-	-	-	-	-
EBITDA Growth	6.3%	53.2%	-6.4%	-43.3%	-15.9%	-220.0%	-58.1%	-42.1%	-232.3%	-14.5%	-112.6%	-51.2%
Operating Income Growth	-3.4%	35.7%	-23.7%	-56.7%	-22.3%	-50.3%	-52.8%	-42.5%	-211.1%	-18.1%	-98.8%	-50.5%
Net Income Growth	11.9%	56.6%	-15.0%	-31.7%	-31.5%	-194.7%	-78.2%	-64.2%	-265.3%	-16.1%	-113.2%	-51.7%
Margins Quarterly
EBITDA Margin	-922.6%	-419.0%	-952.9%	-3766.0%	-4569.3%	-7236.2%	-	-	-	-	-	-
Operating Income Margin	-1080.8%	-280.1%	-1086.3%	-4151.4%	-4854.0%	-3517.3%	-	-	-	-	-	-
Net Income Margin	-1098.5%	-366.4%	-1173.1%	-4031.0%	-5790.5%	-6823.0%	-	-	-	-	-	-
Cash & Debt
Total Cash	30	7	3	16	6	7	6	8	5	2	13	11
Total Debt	0	8	7	11	3	7	11	16	19	6	0	0
Net Debt / (Cash)	-30	1	4	-5	-3	-1	5	9	14	4	-13	-11
Cash Flows Quarterly
FCF from Operations	-7	-6	-10	-7	-6	-4	-5	-3	-5	-3	-3	-3
Cash Flows TTM
FCF from Operations TTM	-31	-29	-27	-22	-18	-17	-15	-13	-14	-13	-14	-13
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-12.0%	-9.4%	-13.3%	-18.2%	-13.9%	-17.6%	-13.0%	-14.0%	-13.4%	-14.3%	-11.6%	-13.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-12.6%	-12.7%	-14.5%	-14.6%	-14.0%	-13.7%	-12.6%	-12.1%	-11.6%	-9.9%	-10.9%	-10.1%

Segment Financials

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Single Segment	78	75	53	21	1
Total	78	75	53	21	1

Price Behavior

Price Behavior

Market Price	$4.16
Market Cap ($ Bil)	0.5
First Trading Date	02/24/2016
Distance from 52W High	-63.3%
	50 Days	200 Days
DMA Price	$4.65	$2.70
DMA Trend	up	indeterminate
Distance from DMA	-10.6%	53.8%
	3M	1YR
Volatility	187.4%	146.3%
Downside Capture	460.10	303.44
Upside Capture	457.83	393.37
Correlation (SPY)	29.0%	23.0%

ABAT Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	3.63	4.29	4.31	3.72	1.71	1.47
Up Beta	-2.59	7.47	5.62	2.39	0.65	0.90
Down Beta	9.69	2.01	2.82	1.98	1.29	1.28
Up Capture	130%	331%	796%	1513%	1853%	434%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	20	31	64	112	311
Down Capture	516%	425%	338%	296%	151%	111%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	21	31	57	124	410

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of ABAT With Other Asset Classes (Last 1Y)
	ABAT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	383.7%	17.0%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	158.9%	19.0%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	1.70	0.69	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		20.4%	22.2%	8.6%	2.4%	9.0%	17.6%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of ABAT With Other Asset Classes (Last 5Y)
	ABAT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	5.2%	14.1%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	127.3%	17.2%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.59	0.66	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		17.0%	20.2%	5.2%	4.2%	12.6%	12.0%

Based On 10-Year Data

		Comparison of ABAT With Other Asset Classes (Last 10Y)
	ABAT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-2.3%	13.5%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	168.7%	19.9%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.63	0.60	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		11.3%	13.3%	1.9%	4.3%	9.8%	6.3%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	14,985,309
Short Interest: % Change Since 11152025	22.0%
Average Daily Volume	6,659,652
Days-to-Cover Short Interest	2.25
Basic Shares Quantity	112,240,128
Short % of Basic Shares	13.4%

Returns Analyses

	Title
0	American Battery Technology Stock Jump Looks Great, But How Secure Is That Gain?

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
9/18/2025	10.0%	44.7%	61.7%
5/19/2025	0.0%	-0.7%	-3.6%
2/19/2025	-9.2%	-15.1%	-12.6%
9/25/2024	16.0%	27.2%	24.7%
SUMMARY STATS
# Positive	3	2	2
# Negative	1	2	2
Median Positive	10.0%	35.9%	43.2%
Median Negative	-9.2%	-7.9%	-8.1%
Max Positive	16.0%	44.7%	61.7%
Max Negative	-9.2%	-15.1%	-12.6%

	Forward Returns
9/18/2025	10.0%	44.7%	61.7%
5/19/2025	0.0%	-0.7%	-3.6%
2/19/2025	-9.2%	-15.1%	-12.6%
9/25/2024	16.0%	27.2%	24.7%
SUMMARY STATS
# Positive	3	2	2
# Negative	1	2	2
Median Positive	10.0%	35.9%	43.2%
Median Negative	-9.2%	-7.9%	-8.1%
Max Positive	16.0%	44.7%	61.7%
Max Negative	-9.2%	-15.1%	-12.6%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	9182025	10-K 6/30/2025
3312025	5152025	10-Q 3/31/2025
12312024	2142025	10-Q 12/31/2024
9302024	11142024	10-Q 9/30/2024
6302024	9232024	10-K 6/30/2024
3312024	5152024	10-Q 3/31/2024
12312023	2142024	10-Q 12/31/2023
9302023	11142023	10-Q 9/30/2023
6302023	9282023	10-K 6/30/2023
3312023	5152023	10-Q 3/31/2023
12312022	2142023	10-Q 12/31/2022
9302022	11142022	10-Q 9/30/2022
6302022	9122022	10-K 6/30/2022
3312022	5162022	10-Q 3/31/2022
12312021	2142022	10-Q 12/31/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Fezell Donald Richard JR		11122025	Sell	4.34	90,000	390,600	1,369,665	Form

External Quote Links

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2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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American Battery Technology (ABAT)

Market Price (12/23/2025): $4.18 | Market Cap: $469.2 MilSector: Industrials | Industry: Environmental & Facilities Services

American Battery Technology (ABAT)

Market Price (12/23/2025): $4.18Market Cap: $469.2 MilSector: IndustrialsIndustry: Environmental & Facilities Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Market Price (12/23/2025): $4.18 | Market Cap: $469.2 Mil
Sector: Industrials | Industry: Environmental & Facilities Services

Market Price (12/23/2025): $4.18
Market Cap: $469.2 Mil
Sector: Industrials
Industry: Environmental & Facilities Services