# HIGHWATER ETHANOL, LLC · Edgar & Edgarette company card

> Highwater Ethanol saw revenue fall 0.5% in FY2025 to $141 million, operating margin 3.5% against a -3.2% median for industrial organic chemicals. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1371451 · fiscal year ended 2025-10-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/1371451) · [JSON](https://www.pops4.com/boards/company/1371451.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $141M |
| Revenue growth, 1 year | -0.5% |
| Revenue growth per year | -2.9% |
| Operating margin | 3.5% (prior year 3.3%) |
| Net margin | 11.6% |
| Operating cash flow | $3M |
| Capital spending | $6M |
| Free cash flow | −$2M |
| Cash | $23M |
| Long-term debt | $0 |
| Total assets | $90M |
| Total equity | — |
| Equity ÷ assets | — |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 6 of 9 (solid)
- Health Harbor boat: Old boat · three warning signs · slow and jumpy: growing slower than its size class, with revenue that swings more; free cash flow was negative: capital spending outran operating cash (-$2.3M in FY2025); revenue is hard to predict: its 80% range is ±33%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $141.2M (FY2025), total debt $0K. Experience: revenue down 0.5% on the year, down 2.9% a year over 4 years; operating margin 3.5%, up from 3.3%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $91.4M and $181.9M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $76.8M to $218.0M. A statistical range, not company guidance. Against peers (13 filers, $50M+ revenue, industrial organic chemicals): operating margin 3.5% against a -3.2% median; growth -0.5% against -3.5%.

Range logged 2026-09-29, receipt c1715208f767a734, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 4, latest 2026-09-28 ([filing](https://www.sec.gov/Archives/edgar/data/1371451/000162828026063690/0001628280-26-063690-index.htm))

## Recent filings

- 8-K · filed 2026-09-28 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1371451/000162828026063690/0001628280-26-063690-index.htm)
- 8-K · filed 2026-09-23 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1371451/000162828026063170/0001628280-26-063170-index.htm)
- 10-Q · filed 2026-09-11 · [filing](https://www.sec.gov/Archives/edgar/data/1371451/000162828026061490/0001628280-26-061490-index.htm)
- 8-K · filed 2026-08-20 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1371451/000162828026058180/0001628280-26-058180-index.htm)
- 8-K · filed 2026-07-29 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1371451/000162828026050513/0001628280-26-050513-index.htm)
- 10-Q · filed 2026-06-12 · [filing](https://www.sec.gov/Archives/edgar/data/1371451/000162828026042736/0001628280-26-042736-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001371451.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1371451

## Cite

POPS4, Edgar & Edgarette: HIGHWATER ETHANOL, LLC company card, from the company's own SEC filings, accessed 2026-11-14, https://www.pops4.com/boards/company/1371451. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.