Gevo, Inc. (GEVO)

Nasdaq · Industrial Organic Chemicals

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

a renewable chemicals and advanced biofuels company

Corporate structure

17 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-05 — see the exhibit.

Which other public companies file entities in the same places:

Subsidiaries of Gevo, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Gevo Asset, LLC	Delaware
Gevo RNG Holdco, LLC	Delaware
Gevo NW Iowa RNG, LLC	Delaware
Gevo Net-Zero Holdco, LLC	Delaware
Gevo Net-Zero 1, LLC	Delaware
Gevo Net-Zero Operations, LLC	Delaware
Gevo Net-Zero Asset Management, LLC	Delaware
Verity Holdings, LLC	Delaware
Cultivate Agricultural Intelligence, LLC	Florida
Gevo North Dakota Asset Management, LLC	Delaware
Gevo Intermediate HoldCo, LLC	Delaware
Net-Zero North HoldCo, LLC	Delaware
Net-Zero Richardton, LLC	Delaware
Richardton CCS, LLC	Delaware
Gevo North Dakota Operations, LLC	Delaware
Gevo Operations, LLC	Delaware
Gevo Operating Holdings, LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

3 / 8

FAILReturn on assets positiveROA -4.7%
FAILOperating cash flow positiveOCF -13M
PASSReturn on assets improving-13.5% → -4.7%
PASSCash flow exceeds earningsOCF -13M vs NI -34M
FAILLong-term debt ratio falling11.5% → 22.9% of assets
FAILCurrent ratio improving8.36 → 1.82
FAILNo share dilution232M → 234M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.03× → 0.22×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$5.5M	−$40.2M	−$25.2M	-171.0%	—
FY2021	$711,000	−$59.2M	−$138.3M	-1611.0%	195,794,606
FY2022	$1.2M	−$98.0M	−$128.4M	—	221,537,262
FY2023	$17.2M	−$66.2M	−$108.2M	—	238,687,621
FY2024	$16.9M	−$78.6M	−$108.5M	—	231,674,716
FY2025	$160.6M	−$33.8M	−$43.5M	—	234,008,574

Ownership flow

11 institutions tracked — 8 added, 3 reduced, 2 sold out. Index money added 5,764,464 shares while active managers cut 1,307,450.

Institutional holders of Gevo, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
STATE STREET CORP	Index	13,430,525	+4,364,606	$20.1M
BlackRock, Inc.	Index	18,328,928	+1,007,913	$27.5M
CITADEL ADVISORS LLC	Hedge fund	1,347,262	−971,078	$2.0M
MORGAN STANLEY	Active fund	276,011	−418,532	$414,019
GEODE CAPITAL MANAGEMENT, LLC	Index	6,273,452	+391,945	$9.4M
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	372,788	+50,285	$560,000
FMR LLC	Active fund	63,962	+39,470	$95,943
AQR CAPITAL MANAGEMENT LLC	Hedge fund	27,254	−33,464	$40,882
BANK OF AMERICA CORP /DE/	Active fund	2,204,055	+17,351	$3.3M
JPMORGAN CHASE & CO	Active fund	122,609	+7,889	$180,236
WELLINGTON MANAGEMENT GROUP LLP	Active fund	72,156	+629	$108,235

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Identity

CIK: 0001392380
SIC: 2860 · Industrial Organic Chemicals
Incorporated: DE
Headquarters: ENGLEWOOD, CO
Founded: 2005-00-00

Ownership

Institutional: 38.7%
Institutions: 199
Insiders: 4.5%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other industrial organic chemicals companies

Gevo, Inc. files under SIC 2860 — all 10 industrial organic chemicals companies compared on assets and F-score.

INTERNATIONAL FLAVORS & FRAGRANCES INCIFF WESTLAKE CORPWLK NEWMARKET CORPNEU SENSIENT TECHNOLOGIES CORPSXT Green Plains Inc.GPRE REX AMERICAN RESOURCES CorpREX

Questions about Gevo, Inc.

How many subsidiaries does Gevo, Inc. file with the SEC?: 17, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Florida). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Gevo, Inc. financially healthy?: Gevo, Inc. scores 3 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Gevo, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), STATE STREET CORP (adding), GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

17 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-05 — see the exhibit.

Which other public companies file entities in the same places:

Delaware16 Florida1

Entity

Jurisdiction

Note

Gevo Asset, LLC

Delaware

Gevo RNG Holdco, LLC

Delaware

Gevo NW Iowa RNG, LLC

Delaware

Gevo Net-Zero Holdco, LLC

Delaware

Gevo Net-Zero 1, LLC

Delaware

Gevo Net-Zero Operations, LLC

Delaware

Gevo Net-Zero Asset Management, LLC

Delaware

Verity Holdings, LLC

Delaware

Cultivate Agricultural Intelligence, LLC

Florida

Gevo North Dakota Asset Management, LLC

Delaware

Gevo Intermediate HoldCo, LLC

Delaware

Net-Zero North HoldCo, LLC

Delaware

Net-Zero Richardton, LLC

Delaware

Richardton CCS, LLC

Delaware

Gevo North Dakota Operations, LLC

Delaware

Gevo Operations, LLC

Delaware

Gevo Operating Holdings, LLC

Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

3 / 8

FAILReturn on assets positiveROA -4.7%
FAILOperating cash flow positiveOCF -13M
PASSReturn on assets improving-13.5% → -4.7%
PASSCash flow exceeds earningsOCF -13M vs NI -34M
FAILLong-term debt ratio falling11.5% → 22.9% of assets
FAILCurrent ratio improving8.36 → 1.82
FAILNo share dilution232M → 234M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.03× → 0.22×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$5.5M	−$40.2M	−$25.2M	-171.0%	—
FY2021	$711,000	−$59.2M	−$138.3M	-1611.0%	195,794,606
FY2022	$1.2M	−$98.0M	−$128.4M	—	221,537,262
FY2023	$17.2M	−$66.2M	−$108.2M	—	238,687,621
FY2024	$16.9M	−$78.6M	−$108.5M	—	231,674,716
FY2025	$160.6M	−$33.8M	−$43.5M	—	234,008,574

Ownership flow

11 institutions tracked — 8 added, 3 reduced, 2 sold out. Index money added 5,764,464 shares while active managers cut 1,307,450.

Institutional holders of Gevo, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
STATE STREET CORP	Index	13,430,525	+4,364,606	$20.1M
BlackRock, Inc.	Index	18,328,928	+1,007,913	$27.5M
CITADEL ADVISORS LLC	Hedge fund	1,347,262	−971,078	$2.0M
MORGAN STANLEY	Active fund	276,011	−418,532	$414,019
GEODE CAPITAL MANAGEMENT, LLC	Index	6,273,452	+391,945	$9.4M
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	372,788	+50,285	$560,000
FMR LLC	Active fund	63,962	+39,470	$95,943
AQR CAPITAL MANAGEMENT LLC	Hedge fund	27,254	−33,464	$40,882
BANK OF AMERICA CORP /DE/	Active fund	2,204,055	+17,351	$3.3M
JPMORGAN CHASE & CO	Active fund	122,609	+7,889	$180,236
WELLINGTON MANAGEMENT GROUP LLP	Active fund	72,156	+629	$108,235

Questions about Gevo, Inc.

How many subsidiaries does Gevo, Inc. file with the SEC?

17, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Florida). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Gevo, Inc. financially healthy?

Gevo, Inc. scores 3 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Gevo, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), STATE STREET CORP (adding), GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.