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Ramaco Resources, Inc. (METC) stock

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NASDAQ: METC Nasdaq Coal & Consumable Fuels Next results ~November 3, 2026

E Fundamentals grade

Ramaco Resources, Inc. is a US-listed company in the coal & consumable fuels industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$7.8

Valuation models combined (4)

Base case. Range ~$5.8–$12. Weighted average of 4 models (growth cash-flow model, residual income, justified price-to-book, forward price-to-sales vs peers), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Ramaco Resources, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 112 sales by directors and officers, last 12 monthsInsider trades
  • Funds101 adding, 89 cuttingOf 37 active managers that changed their stake, 19 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Ramaco Resources files

Where Ramaco Resources stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $515m, down 17.7% on a year earlier, a steeper fall than the 16.7% decline a quarter earlier. Free-cash-flow margin fell to -22.2% from 2.7% a year earlier. Operating margin narrowed to -14.1% from -2.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 1 of our 3 financial-health checks. Our cash-flow model value is $11.28 a share, against a share price of $7.41.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Ramaco Resources, Inc.'s trailing-twelve-month revenue fell 17.7% year on year, with a free-cash-flow margin of -22.2%. Where it lags: revenue growth of -17.7% ranks 8 of 8 coal & consumable fuels companies we cover.

Current signal Balance sheet growing far ahead of sales: Total assets grew 52% year over year while revenue fell 18% — the balance sheet is expanding 70 points faster than the business it supports.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.3bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 351.3% over 90 days.

Things to watch

  • Revenue shrinking. Revenue fell 17.7% over the last 12 months.
  • Loss-making. Operating margin is -14.1%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 11.2 points on a year ago.
  • Burning cash. Free cash flow was -22.2% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 82% and a beta of 1.4 against the S&P 500.
  • Insiders selling. 8 insiders sold $66M of stock over the past 365 days and none bought (0% under pre-set trading plans).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
-$0.25 against an average estimate of -$0.26: beat by 3.4%
Revenue
$145m, down 5.3% on a year earlier
Share reaction
+3.8% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
full-year production guidance (tons) 3.6 to 3.9 (full-year 2026); full-year sales guidance (tons) 4 to 4.3 (full-year 2026)
Next report
November 3, 2026; average EPS estimate -$0.21

Ramaco Resources' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-6.5%
  • 1 week-4.6%
  • 1 month-18.7%
  • This year-63.4%
  • 1 year-78.3%
  • 5 years-52.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$515M
Operating margin
-14.1%
Net margin
-12.0%

Growth

Revenue growth
−17.7%
Change in growth rate
−1.0 pts

Cash

Free cash flow (TTM)
-$114M
FCF margin
-22.2%
Stock pay % of revenue
3.9%

Earnings

Last results
August 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Leadership
  4. Announcement
  5. Announcement
  6. Insider trade
  7. Results
  8. Guidance
  9. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Ramaco Resources, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Ramaco Resources, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.25 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$5.8 ~$1.9–$9.2 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.8 ~$2.6–$3.4 Left out: far from the other models (more than 3x away from their median)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$8.4 ~$6.4–$11 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$8.8 ~$7.7–$10 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$12 ~$10–$19 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$7.8 ~$5.8–$12 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ramaco Resources, Inc. with Coal & Consumable Fuels in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 201720182019202020212022
Share price$5.97$4.30$3.11$2.50$11.80$7.91
Market value$230m$177m$130m$109m$535m$354m
+ Net debt (− = net cash)−$6m$3m$7m$12m$24m$93m
Enterprise value$224m$180m$137m$121m$559m$447m
Multiples
Price / sales 3.8x0.8x0.8x0.6x1.9x0.6x
Price / earnings —7.1x5.2x—13.5x3.0x
Price / free cash flow ————22.4x5.5x
EV / EBITDA —4.9x2.8x66.4x8.5x2.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

26 /100

Weak moat

How hard Ramaco Resources's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Cash operating profit has been a median 12.3% of total assets over 9 years.

  • Pricing power 3 / 20

    Gross margin has been a median 23.8%, moving by 8.5 percentage points (standard deviation) across 9 years.

  • Durability 0 / 20

    Operating margin has been a median 3.7%; its worst year was -35.9%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 1.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (31 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $141m and EPS of −$0.21 (range −$0.25 to −$0.14) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.93 +6% $575m +7%
Next $0.29 +132% $695m +21%

Next year's EPS estimate has moved +351.3% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +25.6% on 90 days ago. In the last 30 days, 1 analyst raised Ramaco Resources, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Ramaco Resources, Inc., last 90 days
−$1.00 −$0.50 $0.00 $0.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.74 Current fiscal year, 60 days ago: −$0.93 Current fiscal year, 30 days ago: −$0.95 Current fiscal year, 7 days ago: −$0.95 Current fiscal year, Now: −$0.93 −$0.93 Next fiscal year, 90 days ago: $0.07 Next fiscal year, 60 days ago: $0.30 Next fiscal year, 30 days ago: $0.22 Next fiscal year, 7 days ago: $0.22 Next fiscal year, Now: $0.29 $0.29

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.74$0.07
60 days ago −$0.93$0.30
30 days ago −$0.95$0.22
7 days ago −$0.95$0.22
Now −$0.93$0.29

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.26 −$0.25 +3.4%
Mar 2026 −$0.20 −$0.30 −51.1%
Dec 2025 −$0.22 −$0.26 −19.7%
Sept 2025 −$0.30 −$0.25 +16.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Full-year production guidance (tons) · Metallurgical Coal full-year 2026 3.6m to 3.9m Lowered
    “Based on continued weakness in high-vol market conditions, full-year 2026 production guidance is now 3.6 - 3.9 million tons, down from 3.7 - 4.1 million tons.” source
  • Full-year sales guidance (tons) · Metallurgical Coal full-year 2026 4m to 4.3m Lowered
    “Full-year 2026 sales guidance is being reduced accordingly to 4.0 - 4.3 million tons, from 4.1 - 4.5 million tons.” source
  • Cash cost per ton sold · Metallurgical Coal full-year 2026 96 to 99 Non-GAAP Maintained
    “The Company is maintaining the midpoint of its full-year 2026 cash cost per ton sold guidance, at $96 - $99 per ton versus $95 - $100 per ton previously despite projected lower production.” source
  • Full-year capital expenditures full-year 2026 $92m to $97m Raised
    “The Company now expects full-year 2026 capital expenditures to be $92 - $97 million versus $85 - $90 million previously.” source
  • Effective tax rate Full-Year 2026 Guidance 20% to 25%
    “Effective tax rate (e) 20 - 25%” source
  • Coal shipments · Metallurgical Coal third quarter of 2026 950,000 to 1,100,000
    “We expect coal shipments of between 950,000 and 1,100,000 tons for the third quarter of 2026, with the ability to increase shipments depending on market conditions.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

8 analysts, Oct 2026
Buy563%
Hold338%
Sell00%

Monthly trend

  1. Oct 2026538
  2. Sep 2026538
  3. Aug 2026628

Counts of recommendations published by analysts covering Ramaco Resources, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
81.8%
of tradable shares
Days to cover
8.01
at average volume
Short interest, 1 month
+25%
to October 15, 2026
Held by institutions
92%
of shares
Held by insiders
9.8%
of shares
Employees
900
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −78.3%

$30.36 on October 31, 2025 to $6.59

ThenNowEffect
Revenue (last 12 months) $626m $515m −17.7%
P/S multiple 2.2x 0.6x −73.6%
Share count 45m 45m 0.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −42.3%

$11.42 on November 3, 2023 to $6.59

ThenNowEffect
Revenue (last 12 months) $576m $515m −10.5%
P/S multiple 0.9x 0.6x −35.5%
Share count 45m 45m 0.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
METC+372%−33%+106%−38%+78%−63%
Industry peers (median)+165%+73%+40%−11%+22%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
METC67%42%58%25%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
METC−41%−58%−32%−58%−74%−76%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since February 3, 2017: 88% from October 14, 2025 to November 2, 2026. Getting back needed a 728% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$6.59 – $27.87
From 52-week high
−76.4%
vs 50-day average
−31.7%
vs 200-day average
−50.8%
Volatility (1 year)
82%
Beta vs S&P 500
1.36

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±12.9%
After a week
6 up, 6 down
typical move ±11.5%
After a month
5 up, 7 down
typical move ±24.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +3.8% +1.6% +14.7% +61.9%
May 11, 2026 +11.5% +0.1% −6.6% −3.6%
February 25, 2026 −17.5% +0.3% −12.5% −22.8%
October 27, 2025 −19.1% +1.4% −20.1% −53.8%
July 31, 2025 −4.4% −2.0% +9.3% +30.8%
July 23, 2025 +7.0% +0.9% −7.0% +2.5%
May 12, 2025 +10.1% +4.0% +1.8% +12.1%
March 10, 2025 +37.2% −3.5% +9.2% −10.2%
November 4, 2024 +10.2% +1.0% +24.5% +39.4%
August 7, 2024 +10.9% +1.6% +2.1% −19.0%
May 8, 2024 −15.4% +0.6% −17.4% −15.9%
March 7, 2024 +7.7% +0.4% −12.8% −17.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Ramaco Resources, Inc. in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ramaco Resources, Inc.
$500M $600M $700M $800M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $626M Revenue (TTM), FY23 Q4: $693.5M Revenue (TTM), FY24 Q1: $699.8M Revenue (TTM), FY24 Q2: $717.7M Revenue (TTM), FY24 Q3: $698.1M Revenue (TTM), FY24 Q4: $666.3M Revenue (TTM), FY25 Q1: $628.3M Revenue (TTM), FY25 Q2: $625.9M Revenue (TTM), FY25 Q3: $579.5M Revenue (TTM), FY25 Q4: $536.6M Revenue (TTM), FY26 Q1: $523.6M Revenue (TTM), FY26 Q2: $515.4M $515.4M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $626M
FY23 Q4 $693.5M
FY24 Q1 $699.8M
FY24 Q2 $717.7M
FY24 Q3 $698.1M
FY24 Q4 $666.3M
FY25 Q1 $628.3M
FY25 Q2 $625.9M
FY25 Q3 $579.5M
FY25 Q4 $536.6M
FY26 Q1 $523.6M
FY26 Q2 $515.4M
Revenue growth, TTM YoY Ramaco Resources, Inc.
-20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 20.9% Revenue growth, TTM YoY, FY23 Q4: 22.6% Revenue growth, TTM YoY, FY24 Q1: 21.3% Revenue growth, TTM YoY, FY24 Q2: 24.6% Revenue growth, TTM YoY, FY24 Q3: 11.5% Revenue growth, TTM YoY, FY24 Q4: -3.9% Revenue growth, TTM YoY, FY25 Q1: -10.2% Revenue growth, TTM YoY, FY25 Q2: -12.8% Revenue growth, TTM YoY, FY25 Q3: -17.0% Revenue growth, TTM YoY, FY25 Q4: -19.5% Revenue growth, TTM YoY, FY26 Q1: -16.7% Revenue growth, TTM YoY, FY26 Q2: -17.7% -17.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 20.9%
FY23 Q4 22.6%
FY24 Q1 21.3%
FY24 Q2 24.6%
FY24 Q3 11.5%
FY24 Q4 -3.9%
FY25 Q1 -10.2%
FY25 Q2 -12.8%
FY25 Q3 -17.0%
FY25 Q4 -19.5%
FY26 Q1 -16.7%
FY26 Q2 -17.7%
Operating margin (TTM) Ramaco Resources, Inc.
-20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 12.2% Operating margin (TTM), FY23 Q4: 13.7% Operating margin (TTM), FY24 Q1: 9.5% Operating margin (TTM), FY24 Q2: 8.6% Operating margin (TTM), FY24 Q3: 6.8% Operating margin (TTM), FY24 Q4: 2.5% Operating margin (TTM), FY25 Q1: 0.2% Operating margin (TTM), FY25 Q2: -2.9% Operating margin (TTM), FY25 Q3: -5.9% Operating margin (TTM), FY25 Q4: -10.4% Operating margin (TTM), FY26 Q1: -13.0% Operating margin (TTM), FY26 Q2: -14.1% -14.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 12.2%
FY23 Q4 13.7%
FY24 Q1 9.5%
FY24 Q2 8.6%
FY24 Q3 6.8%
FY24 Q4 2.5%
FY25 Q1 0.2%
FY25 Q2 -2.9%
FY25 Q3 -5.9%
FY25 Q4 -10.4%
FY26 Q1 -13.0%
FY26 Q2 -14.1%
FCF margin (TTM) Ramaco Resources, Inc.
-30% -20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 8.3% FCF margin (TTM), FY23 Q4: 11.3% FCF margin (TTM), FY24 Q1: 12.4% FCF margin (TTM), FY24 Q2: 14.4% FCF margin (TTM), FY24 Q3: 10.9% FCF margin (TTM), FY24 Q4: 8.6% FCF margin (TTM), FY25 Q1: 9.0% FCF margin (TTM), FY25 Q2: 2.7% FCF margin (TTM), FY25 Q3: -4.3% FCF margin (TTM), FY25 Q4: -11.3% FCF margin (TTM), FY26 Q1: -22.7% FCF margin (TTM), FY26 Q2: -22.2% -22.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 8.3%
FY23 Q4 11.3%
FY24 Q1 12.4%
FY24 Q2 14.4%
FY24 Q3 10.9%
FY24 Q4 8.6%
FY25 Q1 9.0%
FY25 Q2 2.7%
FY25 Q3 -4.3%
FY25 Q4 -11.3%
FY26 Q1 -22.7%
FY26 Q2 -22.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 5 61 228 169 169 283 566 694 666 537 515
Gross profit — 1 51 6 23 88 233 200 133 83 70
EBITDA −7 −13 37 49 2 66 192 149 82 12 −6
Operating income −8 −16 24 30 −19 40 150 95 17 −56 −73
Net income −8 −15 25 25 −5 40 116 82 11 −51 −62
Diluted EPS — −$0.41 $0.61 $0.60 −$0.12 $0.88 $2.60 $1.73 $0.11 −$0.99 —
Growth (year on year)
Revenue — +>999% +272.9% −25.8% 0.0% +67.8% +99.6% +22.6% −3.9% −19.5% −17.7%
EBITDA — — — +34.3% −96.3% — +191.4% −22.0% −45.0% −85.2% −111.0%
Operating income — — — +22.6% −164.7% — +280.4% −36.7% −82.5% −436.4% —
Net income — — — −0.6% −119.7% — +191.9% −29.1% −86.4% — —
Diluted EPS — — — −1.6% −119.7% — +195.9% −33.5% −93.6% — —
Margins
Gross margin — 0.8% 22.4% 3.8% 13.9% 31.0% 41.1% 28.8% 20.0% 15.5% 13.5%
EBITDA margin −139.5% −20.9% 16.0% 29.0% 1.1% 23.2% 33.9% 21.6% 12.3% 2.3% −1.1%
Operating margin −144.4% −26.0% 10.6% 17.5% −11.3% 13.9% 26.6% 13.7% 2.5% −10.4% −14.1%
Net margin −144.1% −25.3% 11.0% 14.8% −2.9% 14.0% 20.5% 11.9% 1.7% −9.6% −12.0%
Free-cash-flow margin −394.6% −136.8% −5.3% −2.0% −6.8% 8.4% 11.5% 11.3% 8.6% −11.3% −22.2%
Cash flow
Cash from operations −4 −8 36 42 13 53 188 161 113 2 −42
Capital spending 17 75 48 46 25 29 123 83 55 63 72
Free cash flow −21 −84 −12 −3 −11 24 65 78 57 −61 −114
Stock-based pay 0 3 3 4 4 5 8 13 17 18 20
Free cash flow after stock pay −21 −86 −15 −7 −16 19 57 65 40 −78 −134
Balance sheet
Cash 5 6 7 6 5 22 36 42 33 440 283
Total debt 1 0 9 13 17 46 129 91 89 468 453
Net debt (negative = net cash) −5 −6 3 7 12 24 93 49 56 27 170
Diluted shares — 38m 41m 42m 43m 45m 45m — — — —
Returned to shareholders
Dividends — — — — — 20 20 26 25 4 —
Buybacks — 2 — — — — — — — — —
Total returned — 2 — — — 20 20 26 25 4 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 3 checks passed · June 30, 2026
What it owns · $1.0bn
Short-term assets $461mLonger-term assets $564m
What it owes, and who funded it · $1.0bn
Short-term liabilities $109mLonger-term liabilities $540mShareholders' equity $376m
  • Short-term assets cover short-term liabilities $461m of assets due within a year against $109m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $461m short-term assets against $540m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$73m against −$15m of interest.

From Ramaco Resources, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$4.3M
Returned to shareholders
-7%
of free cash flow
Total shareholder yield
1.3%
dividends 1.3% + buybacks 0.0% of market value
Sales & admin spending
14.3%
of revenue
Days sales outstanding
43 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in coal & consumable fuels
Last 12 months unless stated METC NC HCC AMR ARLP CCJ Median
Revenue, last 12 months $515m $278m $1.7bn $2.1bn $2.2bn $2.5bn $2.1bn
Revenue growth, last 12 months −17.7% 4.7% 37.5% −12.9% −5.1% 8.9% 2.0%
Revenue growth, 3-year average −3.6% 5.5% 1.1% −15.8% −6.3% — −3.6%
Revenue growth, latest quarter −5.3% 6.0% 71.3% −10.4% 0.7% — 3.5%
Gross margin 13.5% 18.5% 32.1% — — 27.9% 23.2%
Operating margin −14.1% 8.3% 13.6% −2.2% 14.7% 17.8% 5.1%
Operating margin, 3-year average −2.8% −3.1% 14.3% 4.3% 16.7% 0.9% 4.3%
Net margin −12.0% 6.2% 13.0% −2.2% 12.3% 16.9% 4.3%
Cash from operations / revenue −8.2% 26.7% 17.9% 6.7% 28.2% 40.4% 15.6%
Free-cash-flow margin −22.2% 18.1% 0.9% −0.1% 16.4% 30.9% 3.5%
Free-cash-flow margin, 3-year average −1.7% 5.7% −3.1% 6.9% 14.5% 25.9% 6.3%
Stock pay / revenue 3.9% 0.2% 1.3% 0.7% 0.3% 0.3% 0.4%
Change in share count — 1.7% 0.5% −1.7% — −0.1% 0.2%

Median of all 8 companies we cover in coal & consumable fuels. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

8 coal & consumable fuels companies
Measure Company Peer median Rank
Revenue growth Growth -17.7% 4.7% 8 of 8
Change in growth rate Growth -1.0pp +2.0pp 5 of 8
Operating margin Profitability -14.1% 8.3% 8 of 8
Net margin Profitability -12.0% 6.2% 8 of 8
Free-cash-flow margin Cash generation -22.2% 6.1% 8 of 8
Stock pay as % of revenue Cash generation 3.9% 0.7% 6 of 6
Long-term debt as % of assets Balance sheet 41.0% 9.7% 8 of 8
Days sales outstanding Balance sheet 43 days 38 days 6 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Export Coal Revenues $340M 63.3% ▼ 23.6%
Domestic Coal Revenues $197M 36.7% ▼ 11.1%

From Ramaco Resources, Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$600M
Institutions reporting
198
Shares held vs prior quarter
▼ 5.6%
Positions opened / closed
36 / 43

Top buyers and sellers, Q2 2026: 101 institutions bought and 89 sold ; the biggest buyer was Morgan Stanley (+531K shares) and the biggest seller Nuveen, LLC (−1.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Discovery Capital Management, LLC / Ct $70.3M 5.3M 11.7% ▼ 3.6%
Blackrock, Inc. $58.6M 4.4M 9.8% ▲ 7.6%
State Street Corp $40.5M 3.1M 6.7% ▲ 6.7%
Yorktown Energy Partners Xi, L.P. $39.4M 3.0M 6.6% 0.0%
Dayah Capital LLC $33.6M 2.5M 5.6% ▼ 16.6%
Yorktown Energy Partners X, L.P. $26.1M 2.0M 4.3% 0.0%
Vanguard Capital Management LLC $23M 1.7M 3.8% ▼ 7.7%
Goldman Sachs Group Inc $22.8M 1.7M 3.8% ▼ 5.8%
Jpmorgan Chase & Co $19.2M 1.5M 3.2% ▲ 46.4%
Yorktown Energy Partners Ix, L.P. $19M 1.4M 3.2% ▼ 41.0%
Dimensional Fund Advisors LP $18.4M 1.4M 3.1% ▼ 3.3%
Wells Fargo & Company $17.3M 1.3M 2.9% ▲ 28.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ramaco Resources, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $66.1M 112 trades by 8 insiders · 0% under pre-set plans
Net ▼ $66.1M net selling
Insider Date Trade Shares Price Value
Citrone Robert K. 10% owner August 6, 2026 Sell 500,000 $9.57 $4.8M
Discovery Global Opportunity Master Fund, Ltd 10% owner May 1, 2026 Sell 200,000 $14.79 $3M
Leidel Peter A Director March 30, 2026 Sell 1,518 $10.34 $15,696
Leidel Peter A Director March 30, 2026 Sell 2,266 $10.34 $23,430
Leidel Peter A Director March 30, 2026 Sell 2,297 $10.34 $23,751
Lawrence Bryan H. Director March 30, 2026 Sell 1,518 $10.34 $15,696
Lawrence Bryan H. Director March 30, 2026 Sell 2,266 $10.34 $23,430
Lawrence Bryan H. Director March 30, 2026 Sell 2,297 $10.34 $23,751
Yorktown Energy Partners Ix, L.P. 10% owner March 30, 2026 Sell 2,266 $10.34 $23,430
Yorktown Ix Associates Llc 10% owner March 30, 2026 Sell 2,266 $10.34 $23,430
Yorktown Energy Partners Xi, L.P. 10% owner March 30, 2026 Sell 2,297 $10.34 $23,751
Yorktown Xi Associates Llc 10% owner March 30, 2026 Sell 2,297 $10.34 $23,751

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 26, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 11, 2026
  • February 25, 2026
  • October 27, 2025
  • July 31, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on Ramaco Resources, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ramaco Resources, Inc. in brief

What does Ramaco Resources, Inc. do?
Ramaco Resources, Inc. is a US-listed company in the coal & consumable fuels industry. Its financial year ends in December.
What is Ramaco Resources, Inc.'s stock ticker?
Ramaco Resources, Inc. trades under the ticker METC on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ramaco Resources, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ramaco Resources, Inc. reported revenue of $515M, 17.7% lower than a year earlier, according to its SEC filings.
What is Ramaco Resources, Inc.'s free cash flow?
Ramaco Resources, Inc.'s free-cash-flow margin is -22.2% of revenue over the trailing twelve months, ranking 8 of the 8 coal & consumable fuels companies we cover.
Who are Ramaco Resources, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Discovery Capital Management, LLC / Ct, Blackrock, Inc. and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Ramaco Resources, Inc.'s market cap?
On December 30, 2022, Ramaco Resources, Inc.'s market capitalisation was about $354M, with a price-to-earnings ratio of 3.0 and net debt of $93.3M. Market figures come from third-party market data and may be delayed.
Does Ramaco Resources, Inc. pay a dividend?
Yes: Ramaco Resources, Inc. paid $4.3M in dividends over the trailing twelve months, a dividend yield of 1.27%.
Who are Ramaco Resources, Inc.'s competitors?
In our Coal & Consumable Fuels peer group, the companies closest to Ramaco Resources, Inc. are Nacco Industries Inc, Warrior MET Coal, Inc., Alpha Metallurgical Resources, Inc., Alliance Resource Partners LP and Cameco Corp. The side-by-side comparison below sets their revenue, margins and growth against Ramaco Resources, Inc.'s.
Are insiders buying or selling Ramaco Resources, Inc. stock?
Over the last 12 months, Ramaco Resources, Inc.'s directors and officers reported 0 open-market purchases and 112 sales on Form 4. The insider trading page charts every trade.
When is Ramaco Resources, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ramaco Resources, Inc. announces its own schedule.