Ramaco Resources, Inc. income statement
In fiscal 2025, Ramaco Resources, Inc. reported revenue of $537m, down 19.5% on the year before, operating income of −$56.0m (a -10.4% margin) and net income of −$51.4m, or −$0.99 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 61 | 228 | 169 | 169 | 283 | 566 | 694 | 666 | 537 | 515 |
| Cost of revenue | — | 61 | 177 | 162 | 146 | 195 | 333 | 494 | 533 | 453 | 446 |
| Gross profit | — | 1 | 51 | 6 | 23 | 88 | 233 | 200 | 133 | 83 | 70 |
| Selling, general and administrative | 7 | 13 | 14 | 18 | 21 | 22 | 40 | 49 | 49 | 69 | 74 |
| Operating income | −8 | −16 | 24 | 30 | −19 | 40 | 150 | 95 | 17 | −56 | −73 |
| Interest expense | 0 | 0 | 1 | 1 | 1 | 3 | — | −9 | −6 | −8 | −15 |
| Income before tax | −8 | −15 | 25 | 30 | −8 | 44 | 146 | 105 | 15 | −62 | −76 |
| Income tax | 0 | 0 | 0 | 5 | −3 | 5 | 30 | 22 | 4 | −11 | −14 |
| 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 | — |
| Diluted shares (average) | — | 38m | 41m | 42m | 43m | 45m | 45m | — | — | — | — |
| EBITDA | −7 | −13 | 37 | 49 | 2 | 66 | 192 | 149 | 82 | 12 | −6 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 167 | 171 | 135 | 153 | 121 | 128 | 122 | 145 |
| Cost of revenue | 135 | 136 | 114 | 134 | 102 | 107 | 109 | 128 |
| Gross profit | 33 | 35 | 21 | 19 | 19 | 21 | 13 | 17 |
| Selling, general and administrative | 13 | 11 | 15 | 15 | 16 | 20 | 20 | 18 |
| Operating income | 2 | 6 | −12 | −14 | −14 | −16 | −24 | −18 |
| Interest expense | 2 | −11 | −2 | −3 | 2 | −15 | −0 | −2 |
| Income before tax | −0 | 6 | −14 | −16 | −17 | −16 | −24 | −20 |
| Income tax | 0 | 2 | −4 | −2 | −3 | −1 | −6 | −4 |
| Net income | −0 | 4 | −9 | −14 | −13 | −15 | −18 | −15 |
| Diluted EPS | −$0.03 | $0.06 | — | — | — | — | — | — |
| EBITDA | 19 | 23 | 6 | 3 | 3 | 1 | −8 | −1 |
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