NASDAQ : METCB
Ramaco Resources, Inc. — Financial statements
Materials · Coking Coal · United States
Last price 4.25 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 431.73M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Ramaco Resources, Inc. (METCB) reported revenue of 515.41M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 515.41M | 536.62M | 666.29M | 693.52M | 565.69M | 283.39M |
| Cost of Revenue | 441.76M | 453.39M | 533.29M | 493.79M | 332.96M | 195.41M |
| Gross Profit | 73.65M | 83.23M | 133.00M | 199.73M | 232.73M | 87.98M |
| Selling, General & Admin | 77.44M | 69.36M | 49.29M | 48.83M | 40.03M | 21.63M |
| Other Operating Expenses | 1.85M | 1.67M | 1.47M | 1.40M | 1.11M | 615.00K |
| Operating Expenses | 146.29M | 139.19M | 116.37M | 104.49M | 82.34M | 48.45M |
| Operating Income | -72.64M | -55.96M | 16.64M | 95.25M | 150.39M | 39.53M |
| Interest Expense | -4.61M | -7.80M | -6.12M | -8.90M | -6.83M | -2.56M |
| Other Non Operating Income (Expenses) | 1.13M | 1.62M | 4.41M | 10.52M | 524.00K | 2.02M |
| EBT Excluding Unusual Items | -76.12M | -62.14M | 14.92M | 96.86M | 144.08M | 39.00M |
| Gain (Loss) on Sale of Assets | 2.11M | |||||
| Other Unusual Items | 5.41M | |||||
| Pretax Income | -76.12M | -62.14M | 14.92M | 104.66M | 146.19M | 44.41M |
| Income Tax Expense | -14.37M | -10.69M | 3.73M | 22.35M | 30.15M | 4.65M |
| Net Income | -61.75M | -51.45M | 11.19M | 82.31M | 116.04M | 39.76M |
| Preferred Dividends & Other Adjustments | 190.00K | 936.00K | 2.01M | 2.77M | ||
| Net Income to Common | -61.94M | -52.38M | 9.18M | 79.54M | 116.04M | 39.76M |
| Shares Outstanding (Basic) | 64.58M | 58.65M | 51.63M | 47.64M | 44.16M | 43.96M |
| Shares Outstanding (Diluted) | 64.58M | 58.65M | 53.65M | 48.54M | 44.70M | 44.26M |
| EPS (Basic) | -0.96 | -0.89 | 0.18 | 1.67 | 2.63 | 0.90 |
| EPS (Diluted) | -0.96 | -0.89 | 0.17 | 1.64 | 2.60 | 0.90 |
| Free Cash Flow | -117.19M | -63.74M | 42.33M | 77.00M | 52.06M | -6.27M |
| Free Cash Flow Per Share | -1.81 | -1.09 | 0.79 | 1.59 | 1.17 | -0.14 |
| Dividend Per Share | 0.21 | 0.55 | 0.50 | 0.45 | ||
| Gross Margin | 14.29% | 15.51% | 19.96% | 28.80% | 41.14% | 31.05% |
| Operating Margin | -14.09% | -10.43% | 2.50% | 13.73% | 26.58% | 13.95% |
| Profit Margin | -12.02% | -9.76% | 1.38% | 11.47% | 20.51% | 14.03% |
| Free Cash Flow Margin | -22.74% | -11.88% | 6.35% | 11.10% | 9.20% | -2.21% |
| EBITDA | -3.79M | 13.87M | 83.72M | 150.90M | 192.70M | 66.35M |
| EBITDA Margin | -0.74% | 2.58% | 12.56% | 21.76% | 34.06% | 23.41% |
| D&A For EBITDA | 68.85M | 69.82M | 67.08M | 55.66M | 42.31M | 26.82M |
| EBIT | -72.64M | -55.96M | 16.64M | 95.25M | 150.39M | 39.53M |
| EBIT Margin | -14.09% | -10.43% | 2.50% | 13.73% | 26.58% | 13.95% |
| Effective Tax Rate | 24.99% | 21.35% | 20.62% | 10.46% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 282.54M | 440.35M | 33.01M | 41.96M | 35.61M | 21.89M |
| Cash & Short-Term Investments | 282.54M | 440.35M | 33.01M | 41.96M | 35.61M | 21.89M |
| Accounts Receivable | 60.75M | 54.35M | 73.58M | 96.87M | 41.17M | 44.45M |
| Other Receivables | 14.60M | |||||
| Receivables | 60.75M | 54.35M | 73.58M | 96.87M | 55.77M | 44.45M |
| Inventory | 100.37M | 87.16M | 43.36M | 37.16M | 44.97M | 15.79M |
| Prepaid Expenses | 11.39M | 10.25M | 16.89M | 12.95M | 10.23M | 3.73M |
| Restricted Cash | 800.00K | 800.00K | 800.00K | 800.00K | 900.00K | 900.00K |
| Other Current Assets | 4.80M | 4.70M | ||||
| Total Current Assets | 460.64M | 597.61M | 167.63M | 189.74M | 147.49M | 86.76M |
| Property, Plant & Equipment | 546.90M | 528.82M | 495.78M | 469.91M | 443.44M | 236.23M |
| Other Long-Term Assets | 17.13M | 14.14M | 11.27M | 6.18M | 5.41M | 6.04M |
| Total Assets | 1.02B | 1.14B | 674.69M | 665.84M | 596.34M | 329.03M |
| Accounts Payable | 49.96M | 41.60M | 48.85M | 51.62M | 34.83M | 15.35M |
| Accrued Expenses | 49.92M | 52.90M | 54.71M | 52.09M | 41.68M | 19.66M |
| Current Portion of Long-Term Debt | 56.00K | 359.00K | 56.53M | 75.64M | 7.67M | |
| Current Portion of Leases | 7.45M | 7.64M | 6.51M | 5.59M | 6.09M | 3.49M |
| Other Current Liabilities | 1.51M | 7.31M | 12.00M | 4.15M | 4.61M | 489.00K |
| Total Current Liabilities | 108.84M | 109.50M | 122.43M | 169.99M | 162.84M | 46.66M |
| Long-Term Debt | 452.81M | 451.36M | 88.19M | 33.65M | 51.59M | 35.70M |
| Long-Term Leases | 8.16M | 10.97M | 8.61M | 5.37M | 5.50M | 4.60M |
| Long-Term Deferred Tax Liabilities | 34.31M | 44.31M | 56.03M | 54.35M | 35.64M | 6.41M |
| Other Long-Term Liabilities | 44.49M | 40.86M | 36.62M | 32.88M | 31.57M | 24.59M |
| Total Liabilities | 648.61M | 657.00M | 311.88M | 296.23M | 287.14M | 117.96M |
| Common Stock | 568.00K | 551.00K | 533.00K | 528.00K | 442.00K | 441.00K |
| Additional Paid-In Capital | 475.89M | 483.33M | 292.74M | 277.13M | 168.71M | 163.57M |
| Retained Earnings | -34.05M | -311.00K | 69.53M | 91.94M | 140.04M | 47.07M |
| Total Common Equity | 376.07M | 483.57M | 362.81M | 369.61M | 309.20M | 211.07M |
| Shareholders' Equity | 376.07M | 483.57M | 362.81M | 369.61M | 309.20M | 211.07M |
| Total Liabilities & Equity | 1.02B | 1.14B | 674.69M | 665.84M | 596.34M | 329.03M |
| Total Debt | 468.42M | 470.02M | 103.67M | 101.13M | 138.82M | 51.46M |
| Net Cash (Debt) | -185.88M | -29.68M | -70.66M | -59.17M | -103.21M | -29.57M |
| Net Cash Per Share | -2.88 | -0.51 | -1.32 | -1.22 | -2.31 | -0.67 |
| Filing Date Shares Outstanding | 63.68M | 67.71M | 54.77M | 54.03M | 44.45M | 44.27M |
| Total Common Shares Outstanding | 63.64M | 66.75M | 54.15M | 53.75M | 44.16M | 44.09M |
| Working Capital | 351.80M | 488.11M | 45.21M | 19.75M | -15.36M | 40.10M |
| Book Value Per Share | 5.91 | 7.24 | 6.70 | 6.88 | 7.00 | 4.79 |
| Tangible Book Value | 376.07M | 483.57M | 362.81M | 369.61M | 309.20M | 211.07M |
| Tangible Book Value Per Share | 5.91 | 7.24 | 6.70 | 6.88 | 7.00 | 4.79 |
| Machinery | 378.18M | 390.36M | 331.90M | 290.06M | 232.88M | 167.02M |
| Construction In Progress | 37.48M | 22.26M | 31.05M | 13.98M | 34.70M | 9.97M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -61.75M | -51.45M | 11.19M | 82.31M | 116.04M | 39.76M |
| Depreciation & Amortization | 68.85M | 69.82M | 67.08M | 55.66M | 42.31M | 26.82M |
| Other Amortization | 3.85M | 2.71M | 934.00K | 776.00K | 491.00K | 214.00K |
| Loss (Gain) From Sale of Assets | -410.00K | 38.00K | -18.00K | -1.36M | ||
| Stock-Based Compensation | 19.34M | 17.57M | 17.47M | 12.90M | 8.22M | 5.26M |
| Other Operating Activities | -15.38M | -11.72M | 1.68M | 8.52M | 29.23M | -763.00K |
| Change in Accounts Receivable | -4.80M | 19.23M | 23.28M | -55.69M | 3.28M | -24.15M |
| Change in Inventory | -41.06M | -43.80M | -6.20M | 7.81M | -29.18M | -3.84M |
| Change in Accounts Payable | -13.84M | -10.04M | -4.83M | 24.55M | 12.73M | -1.82M |
| Change in Other Net Operating Assets | 2.96M | 9.60M | 2.08M | 24.20M | 6.11M | 11.87M |
| Operating Cash Flow | -42.24M | 1.97M | 112.67M | 161.04M | 187.87M | 53.34M |
| Capital Expenditures | -74.95M | -65.71M | -70.34M | -84.04M | -135.81M | -59.61M |
| Cash Acquisitions | 1.18M | -11.90M | ||||
| Sale (Purchase) of Intangibles | 2.00M | |||||
| Sale (Purchase) of Real Estate | -18.54M | -18.54M | ||||
| Other Investing Activities | 1.81M | 586.00K | -495.00K | 10.65M | ||
| Investing Cash Flow | -91.69M | -83.67M | -70.83M | -72.21M | -145.71M | -59.61M |
| Long-Term Debt Issued | 450.48M | 196.66M | 130.00M | 42.00M | 54.37M | |
| Total Debt Issued | 403.48M | 450.48M | 196.66M | 130.00M | 42.00M | 54.37M |
| Long-Term Debt Repaid | -97.37M | -206.60M | -174.17M | -46.09M | -28.24M | |
| Total Debt Repaid | -74.52M | -97.37M | -206.60M | -174.17M | -46.09M | -28.24M |
| Net Debt Issued (Repaid) | 328.96M | 353.12M | -9.94M | -44.17M | -4.09M | 26.13M |
| Issuance of Common Stock | 189.80M | 189.80M | 534.00K | 107.00K | ||
| Repurchase of Common Stock | -84.36M | -3.49M | -10.58M | -7.32M | -3.18M | -539.00K |
| Common Dividends Paid | -4.34M | -24.60M | -25.82M | -20.04M | ||
| Dividends Paid | -4.34M | -24.60M | -25.82M | -20.04M | ||
| Other Financing Activities | -46.06M | -46.05M | -6.20M | -5.21M | -1.29M | -3.22M |
| Financing Cash Flow | 388.34M | 489.04M | -50.79M | -82.52M | -28.50M | 22.37M |
| Net Cash Flow | 254.41M | 407.35M | -8.96M | 6.31M | 13.67M | 16.10M |
| Free Cash Flow | -117.19M | -63.74M | 42.33M | 77.00M | 52.06M | -6.27M |
| Free Cash Flow Margin | -22.74% | -11.88% | 6.35% | 11.10% | 9.20% | -2.21% |
| Free Cash Flow Per Share | -1.81 | -1.09 | 0.79 | 1.59 | 1.17 | -0.14 |
| Levered Free Cash Flow | -85.52M | -51.84M | 42.56M | 30.10M | 5.54M | -20.54M |
| Unlevered Free Cash Flow | -86.49M | -49.68M | 45.45M | 34.89M | 9.32M | -19.16M |
| Cash Interest Paid | 10.54M | 8.06M | 4.76M | 8.11M | 6.00M | 1.60M |
| Cash Income Tax Paid | 1.89M | 1.89M | 1.23M | -10.99M | 15.50M | 9.00K |
| Change in Working Capital | -56.74M | -25.01M | 14.34M | 865.00K | -7.07M | -17.95M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 414.49M | 1.12B | 537.68M | 871.15M | 387.83M | 599.89M |
| Enterprise Value | 600.37M | 1.06B | 604.80M | 945.65M | 475.87M | 602.00M |
| Last Close Price | 4.13 | 11.16 | 8.73 | 10.56 | ||
| PE Ratio | 58.57 | 10.95 | 3.34 | 15.09 | ||
| PS Ratio | 0.80 | 2.09 | 0.81 | 1.26 | 0.69 | 2.12 |
| PB Ratio | 1.10 | 2.32 | 1.48 | 2.36 | 1.25 | 2.84 |
| P/TBV Ratio | 1.10 | 2.32 | 1.48 | 2.36 | 1.25 | 2.84 |
| P/FCF Ratio | 12.70 | 11.31 | 7.45 | |||
| P/OCF Ratio | 569.89 | 4.77 | 5.41 | 2.06 | 11.25 | |
| EV/Sales Ratio | 1.16 | 1.98 | 0.91 | 1.36 | 0.84 | 2.12 |
| EV/EBITDA Ratio | 76.78 | 7.22 | 6.27 | 2.47 | 9.07 | |
| EV/EBIT Ratio | 36.35 | 9.93 | 3.16 | 15.23 | ||
| EV/FCF Ratio | 14.29 | 12.28 | 9.14 | |||
| Debt / Equity Ratio | 1.25 | 0.97 | 0.29 | 0.27 | 0.45 | 0.24 |
| Debt / EBITDA Ratio | 32.95 | 1.23 | 0.67 | 0.72 | 0.77 | |
| Debt / FCF Ratio | 2.45 | 1.31 | 2.67 | |||
| Net Debt / Equity Ratio | 0.49 | 0.06 | 0.20 | 0.16 | 0.33 | 0.14 |
| Net Debt / EBITDA Ratio | -49.02 | 2.14 | 0.84 | 0.39 | 0.54 | 0.45 |
| Net Debt / FCF Ratio | -1.59 | -0.47 | 1.67 | 0.77 | 1.98 | -4.71 |
| Asset Turnover | 0.61 | 0.59 | 0.99 | 1.10 | 1.22 | 1.02 |
| Inventory Turnover | 5.53 | 6.95 | 13.25 | 12.02 | 10.96 | 14.09 |
| Quick Ratio | 3.15 | 4.52 | 0.87 | 0.82 | 0.56 | 1.42 |
| Current Ratio | 4.23 | 5.46 | 1.37 | 1.12 | 0.91 | 1.86 |
| Return on Equity (ROE) | -17.07% | -12.16% | 3.06% | 24.25% | 44.61% | 20.92% |
| Return on Assets (ROA) | -5.34% | -3.85% | 1.55% | 9.43% | 20.31% | 8.86% |
| Return on Invested Capital (ROIC) | -13.06% | -11.82% | 2.90% | 17.81% | 36.56% | 16.78% |
| Return on Capital Employed (ROCE) | -7.90% | -5.40% | 3.00% | 19.20% | 34.70% | 14.00% |
| Earnings Yield | -23.22% | -4.58% | 2.08% | 9.45% | 29.92% | 6.63% |
| FCF Yield | -28.27% | -5.68% | 7.87% | 8.84% | 13.42% | -1.05% |
| Dividend Yield | 1.23% | 5.54% | 3.08% | 5.16% | ||
| Payout Ratio | 219.82% | 31.37% | 17.27% | |||
| Buyback Yield / Dilution | -21.74% | -9.33% | -10.51% | -8.60% | -1.00% | -4.23% |
| Total Shareholder Return | -21.74% | -8.10% | -4.97% | -5.51% | 4.15% | -4.23% |