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Nacco Industries Inc (NC) stock

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NYSE: NC NYSE Coal & Consumable Fuels Next results ~November 4, 2026

C+ Fundamentals grade

Nacco Industries 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

Fair value per share

~$50

Cash-flow model

Base case. Range ~$35–$69 across our lower- and higher-growth cases (0.1%–10.1% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 44% above it.

Price used: $34.46, November 2, 2026

Nacco Industries 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, 2 selling0 purchases and 5 sales by directors and officers, last 12 monthsInsider trades
  • Funds42 adding, 26 cuttingOf 12 active managers that changed their stake, 6 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Nacco Industries files

Where Nacco Industries stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $278m, up 4.7% on a year earlier, slower than the 9.8% growth a quarter earlier. Free-cash-flow margin rose to 18.1% from 0.1% a year earlier. Operating margin narrowed to 8.3% from 11.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 3 financial-health checks. Our cash-flow model value is $49.71 a share, against a share price of $35.45.

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 4, 2026 (estimated)

Nacco Industries Inc's trailing-twelve-month revenue grew 4.7% year on year, with a free-cash-flow margin of 18.1%. Where it stands out: free-cash-flow margin of 18.1% ranks 2 of 8 coal & consumable fuels companies we cover. Where it lags: change in share count of 1.7% ranks 5 of 6 coal & consumable fuels companies we cover.

Our discounted-cash-flow model values the business at ~$50 per share in the base case (~$35–$69 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 12576.3% while net income fell 44.9%: a 12621pp divergence.

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

  • Priced below our value. The share price of $34.46 is 44% below our value per share of $50.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Growth slowing. The growth rate is 5.0 points lower than a quarter earlier.
  • Margins narrowing. Operating margin is down 3.4 points on a year ago.
  • Below peers: change in share count. Change in share count of 1.7% ranks 5 of 6 coal & consumable fuels companies we cover (median 0.5%).

Latest results: FY2026 Q2

Filed August 5, 2026
Revenue
$72m, up 6.0% on a year earlier
Share reaction
-1.9% in the first session after the results on August 31, 2026, against -1.0% for the S&P 500
Guidance given
annual EBITDA $11m (starting in 2026)
Next report
November 4, 2026

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

Price chart

  • 1 day-1.7%
  • 1 week+1.0%
  • 1 month-4.9%
  • This year-28.6%
  • 1 year-16.8%
  • 5 years+21.4%
  • S&P 500 this year+11.2%

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

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$278M
Operating margin
8.3%
Net margin
6.2%
EPS (TTM, diluted)
$2.30

Growth

Revenue growth
+4.7%
Change in growth rate
−5.0 pts
Share count change
+1.7%

Cash

Free cash flow (TTM)
$50.3M
FCF margin
18.1%

Earnings

Last results
August 31, 2026

News & updates

Updated October 31, 2026

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

  1. Results
  2. Guidance
  3. Leadership
  4. Results

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

Nacco Industries Inc valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 0.2% a year for five years.That is slower than the 7.7% a year revenue growth Nacco Industries has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in-0.2%
  • Last 12 months4.7%
  • 3 years a year5.5%
  • 5 years a year7.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($34.46, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$50
Price used
$34.46close November 3, 2026
Implied change
▲ +44%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Nacco Industries Inc's free cash flow after stock-based pay with after-tax interest added back ($22M, FY2026 Q2 TTM), growing 5.1% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$35–~$69 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Nacco Industries Inc's free cash flow after stock-based pay ( $22M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Nacco Industries Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.76 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$50 ~$35–$69 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$46 ~$31–$70 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$40 ~$34–$49 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) 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. ~$46 ~$40–$50 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Nacco Industries 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.

What moves the value

  • Revenue growth 5 points lower ▼ −27%
  • Revenue growth 5 points higher ▲ +35%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $34$49$69$95$129$173
8.5% $24$35$49$68$92$124
10% $18$26$38$52$70$94

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$7.59$16.57$30.65$28.09$39.43$22.76$32.36$34.54$34.02$28.61$48.27$34.46
Market value$53m$114m$211m$196m$276m$161m$233m$255m$254m$212m$361m$260m
+ Net debt (− = net cash)$143m$65m−$30m−$71m−$92m−$23m−$65m−$91m−$39m$27m$51m$58m
Enterprise value$196m$179m$181m$125m$185m$137m$167m$164m$215m$239m$412m$318m
Multiples
Price / sales 0.4x1.0x2.0x1.4x2.0x1.3x1.2x1.1x1.2x0.9x1.3x0.9x
Price / earnings 2.4x3.8x6.9x5.6x7.0x10.9x4.8x3.4x—6.3x20.5x15.0x
Price / free cash flow 0.5x1.4x8.2x5.8x9.8x—6.5x10.1x28.0x—158.1x3.5x
EV / EBITDA 14.4x15.7x4.0x2.1x3.4x4.3x2.1x1.7x—4.0x8.7x6.7x

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

38 /100

Weak moat

How hard Nacco Industries'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 7 / 20

    Net income has been a median 5.7% of total assets over 10 years.

  • Pricing power 3 / 20

    Gross margin has been a median 16.4%, moving by 7.1 percentage points (standard deviation) across 10 years.

  • Durability 3 / 20

    Operating margin has been a median 12.4%; its worst year was -29.5%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 8 of 10 years, at a median 14.3% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 5.9% over five years; stock-based pay has been a median 0.4% 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 (43 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 4, 2026, after the close.

Analysts' consensus

No analyst estimates are published for Nacco Industries Inc: too few analysts cover it.

Management guidance

Earnings release, August 31, 2026
  • annual EBITDA starting in 2026 about $11m Non-GAAP
    “Projects signed in 2025 expected to add $11M of annual EBITDA, starting in 2026” 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.

Positioning

Short interest
1.8%
of tradable shares
Days to cover
2.75
at average volume
Short interest, 1 month
−1%
to October 15, 2026
Held by institutions
37%
of shares
Held by insiders
33.0%
of shares
Employees
600
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 −16.8%

$41.40 on October 31, 2025 to $34.46

ThenNowEffect
Revenue (last 12 months) $266m $278m +4.7%
Net margin 11.8% 6.2% −47.4%
P/E multiple 9.8x 15.0x +53.5%
Share count 7m 8m −1.7%

Biggest factor: net margin.

Last 3 years +7.5%

$32.06 on November 3, 2023 to $34.46

ThenNowEffect
Revenue (last 12 months) $237m $278m +17.6%
Net margin 13.8% 6.2% −54.9%
P/E multiple 7.3x 15.0x +104.5%
Share count 7m 8m −0.9%

Biggest factor: net margin.

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
NC+42%+7%−2%−16%+69%−29%
Industry peers (median)+196%+73%+71%−11%+22%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NC67%67%58%42%92%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NC−28%−41%−25%−30%−19%−44%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 72% from October 17, 2019 to September 25, 2020. Getting back needed a 256% gain, reached on February 17, 2026, 1971 days after the low.

Price behaviour

52-week range
$32.47 – $58.18
From 52-week high
−40.8%
vs 50-day average
−7.8%
vs 200-day average
−25.7%
Volatility (1 year)
39%
Beta vs S&P 500
0.37

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
6 up, 6 down
typical move ±5.9%
After a week
7 up, 5 down
typical move ±8.2%
After a month
5 up, 7 down
typical move ±7.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 31, 2026 −1.9% −1.0% −5.6% −14.6%
August 5, 2026 −10.2% −0.4% −12.0% −13.9%
May 5, 2026 +5.7% +2.2% +2.7% +8.9%
March 19, 2026 −1.8% −1.7% +2.4% −2.0%
March 4, 2026 −10.8% +0.1% −9.7% −10.2%
November 5, 2025 +3.9% −0.7% +19.3% +15.3%
August 25, 2025 +0.6% 0.0% +3.7% +15.6%
August 6, 2025 −4.3% +0.7% −2.2% −0.6%
April 30, 2025 −8.1% +0.7% −8.1% −0.8%
April 9, 2025 +14.9% +5.7% +17.8% +4.8%
March 5, 2025 +3.7% −0.7% +1.2% −0.4%
October 30, 2024 +5.0% −2.3% +13.7% +8.1%

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.

Nacco Industries Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

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) Nacco Industries Inc
$200M $220M $240M $260M $280M $300M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $221.6M Revenue (TTM), FY23 Q4: $214.8M Revenue (TTM), FY24 Q1: $217.9M Revenue (TTM), FY24 Q2: $208.9M Revenue (TTM), FY24 Q3: $224M Revenue (TTM), FY24 Q4: $237.7M Revenue (TTM), FY25 Q1: $250M Revenue (TTM), FY25 Q2: $265.9M Revenue (TTM), FY25 Q3: $280.8M Revenue (TTM), FY25 Q4: $277.2M Revenue (TTM), FY26 Q1: $274.4M Revenue (TTM), FY26 Q2: $278.5M $278.5M

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

View chart data
Period Revenue (TTM)
FY23 Q3 $221.6M
FY23 Q4 $214.8M
FY24 Q1 $217.9M
FY24 Q2 $208.9M
FY24 Q3 $224M
FY24 Q4 $237.7M
FY25 Q1 $250M
FY25 Q2 $265.9M
FY25 Q3 $280.8M
FY25 Q4 $277.2M
FY26 Q1 $274.4M
FY26 Q2 $278.5M
Revenue growth, TTM YoY Nacco Industries Inc
-20% -10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -2.5% Revenue growth, TTM YoY, FY23 Q4: -11.1% Revenue growth, TTM YoY, FY24 Q1: -8.0% Revenue growth, TTM YoY, FY24 Q2: -11.8% Revenue growth, TTM YoY, FY24 Q3: 1.1% Revenue growth, TTM YoY, FY24 Q4: 10.7% Revenue growth, TTM YoY, FY25 Q1: 14.7% Revenue growth, TTM YoY, FY25 Q2: 27.3% Revenue growth, TTM YoY, FY25 Q3: 25.3% Revenue growth, TTM YoY, FY25 Q4: 16.6% Revenue growth, TTM YoY, FY26 Q1: 9.8% Revenue growth, TTM YoY, FY26 Q2: 4.7% 4.7%

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

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -2.5%
FY23 Q4 -11.1%
FY24 Q1 -8.0%
FY24 Q2 -11.8%
FY24 Q3 1.1%
FY24 Q4 10.7%
FY25 Q1 14.7%
FY25 Q2 27.3%
FY25 Q3 25.3%
FY25 Q4 16.6%
FY26 Q1 9.8%
FY26 Q2 4.7%
Operating margin (TTM) Nacco Industries Inc
-40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 5.8% Operating margin (TTM), FY23 Q4: -32.7% Operating margin (TTM), FY24 Q1: -30.8% Operating margin (TTM), FY24 Q2: -29.5% Operating margin (TTM), FY24 Q3: -15.9% Operating margin (TTM), FY24 Q4: 15.0% Operating margin (TTM), FY25 Q1: 15.5% Operating margin (TTM), FY25 Q2: 11.7% Operating margin (TTM), FY25 Q3: 6.5% Operating margin (TTM), FY25 Q4: 7.9% Operating margin (TTM), FY26 Q1: 9.2% Operating margin (TTM), FY26 Q2: 8.3% 8.3%

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

View chart data
Period Operating margin (TTM)
FY23 Q3 5.8%
FY23 Q4 -32.7%
FY24 Q1 -30.8%
FY24 Q2 -29.5%
FY24 Q3 -15.9%
FY24 Q4 15.0%
FY25 Q1 15.5%
FY25 Q2 11.7%
FY25 Q3 6.5%
FY25 Q4 7.9%
FY26 Q1 9.2%
FY26 Q2 8.3%
FCF margin (TTM) Nacco Industries Inc
-20% -10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 21.1% FCF margin (TTM), FY23 Q4: 11.7% FCF margin (TTM), FY24 Q1: 4.8% FCF margin (TTM), FY24 Q2: -1.2% FCF margin (TTM), FY24 Q3: -17.1% FCF margin (TTM), FY24 Q4: -1.0% FCF margin (TTM), FY25 Q1: 4.5% FCF margin (TTM), FY25 Q2: 0.1% FCF margin (TTM), FY25 Q3: 14.2% FCF margin (TTM), FY25 Q4: 9.2% FCF margin (TTM), FY26 Q1: 12.5% FCF margin (TTM), FY26 Q2: 18.1% 18.1%

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

View chart data
Period FCF margin (TTM)
FY23 Q3 21.1%
FY23 Q4 11.7%
FY24 Q1 4.8%
FY24 Q2 -1.2%
FY24 Q3 -17.1%
FY24 Q4 -1.0%
FY25 Q1 4.5%
FY25 Q2 0.1%
FY25 Q3 14.2%
FY25 Q4 9.2%
FY26 Q1 12.5%
FY26 Q2 18.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 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 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 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 2,311 886 790 873 933 897 148 111 105 135 141 128 192 242 215 238 277 278
Gross profit 408 246 210 226 221 185 −11 12 17 30 31 17 43 68 15 30 38 51
EBITDA 113 113 80 86 86 −38 14 11 46 58 55 32 78 97 −41 60 47 47
Operating income 59 94 64 68 61 −66 −4 −2 33 44 39 13 55 70 −70 36 22 23
Net income 31 80 162 109 44 −38 22 30 30 35 40 15 48 74 −40 34 18 17
Diluted EPS $3.75 $9.53 $19.28 $12.92 $5.47 −$5.02 $3.13 $4.32 $4.41 $5.00 $5.66 $2.10 $6.69 $10.06 −$5.29 $4.55 $2.35 $2.30
Growth (year on year)
Revenue — −61.7% −10.7% +10.5% +6.8% −3.8% −83.5% −24.9% −5.7% +29.2% +4.1% −8.9% +49.4% +26.0% −11.1% +10.7% +16.6% +4.7%
EBITDA — −0.2% −28.6% +6.5% +0.3% −144.5% — −16.5% +300.1% +27.9% −5.6% −42.7% +148.7% +23.3% −142.1% — −21.7% −16.0%
Operating income — +59.4% −32.0% +5.6% −9.3% −208.1% — — — +32.9% −11.0% −65.4% +312.0% +26.3% −200.2% — −38.4% −26.0%
Net income — — +103.9% −32.9% −59.1% −185.8% — +34.7% +2.5% +14.7% +13.9% −62.7% +225.3% +54.1% −153.4% — −47.9% −44.9%
Diluted EPS — — +102.3% −33.0% −57.7% −191.8% — +38.0% +2.1% +13.4% +13.2% −62.9% +218.6% +50.4% −152.6% — −48.4% −45.8%
Margins
Gross margin 17.7% 27.8% 26.5% 25.9% 23.7% 20.6% −7.6% 10.9% 16.1% 22.1% 22.1% 13.2% 22.6% 28.1% 6.8% 12.5% 13.9% 18.5%
EBITDA margin 4.9% 12.7% 10.2% 9.8% 9.2% −4.3% 9.2% 10.3% 43.5% 43.1% 39.1% 24.6% 40.9% 40.0% −19.0% 25.4% 17.0% 16.9%
Operating margin 2.6% 10.6% 8.1% 7.7% 6.6% −7.4% −2.5% −1.5% 31.3% 32.2% 27.5% 10.5% 28.9% 29.0% −32.7% 15.0% 7.9% 8.3%
Net margin 1.3% 9.0% 20.5% 12.4% 4.8% −4.3% 14.9% 26.7% 29.0% 25.7% 28.1% 11.5% 25.1% 30.7% −18.4% 14.2% 6.3% 6.2%
Free-cash-flow margin 5.3% 5.3% 17.1% 3.4% −0.5% −4.2% 70.0% 75.4% 24.4% 24.9% 19.9% −25.4% 18.6% 10.4% 4.2% −13.6% 0.8% 26.7%
Cash flow
Cash from operations 157 63 155 74 53 20 108 94 41 55 53 −2 75 68 54 22 51 74
Capital spending 34 16 20 45 57 58 4 10 16 21 25 30 39 43 45 55 49 0
Free cash flow 124 47 135 30 −4 −38 104 84 26 34 28 −33 36 25 9 −32 2 74
Stock-based pay — 7 2 5 2 3 — — 5 4 5 3 6 8 5 6 8 —
Free cash flow after stock pay — 41 133 25 −6 −40 — — 21 30 23 −36 30 18 4 −38 −6 —
Balance sheet
Cash 93 92 154 140 95 54 36 69 102 85 123 88 86 111 85 73 50 46
Total debt 0 392 215 213 207 303 178 135 72 15 31 65 21 20 46 99 101 104
Net debt (negative = net cash) −93 299 61 73 112 249 143 65 −30 −71 −92 −23 −65 −91 −39 27 51 58
Diluted shares — 8m 8m 8m 8m 8m 7m 7m 7m 7m 7m 7m 7m 7m 7m 7m 7m 8m
Returned to shareholders
Dividends 17 17 18 45 8 8 7 7 7 5 5 5 6 6 6 7 7 8
Buybacks 0 0 2 3 31 35 24 6 0 1 3 1 0 0 3 10 3 2
Total returned 17 17 20 48 39 43 31 13 7 6 8 6 6 6 10 17 10 9

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

2 of 3 checks passed · June 30, 2026
What it owns · $677m
Short-term assets $209mLonger-term assets $468m
What it owes, and who funded it · $677m
Short-term liabilities $63mLonger-term liabilities $178mShareholders' equity $436m
  • Short-term assets cover short-term liabilities $209m of assets due within a year against $63m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $209m short-term assets against $178m 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 $23m against $5m of interest.

From Nacco Industries 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

FY2026 Q2 TTM
Buybacks (TTM)
$1.8M
Dividends (TTM)
$7.6M
Returned to shareholders
19%
of free cash flow
Buybacks, last 3 fiscal years
$15.6M
Diluted share count
+1.7%
year over year
Total shareholder yield
3.6%
dividends 2.9% + buybacks 0.7% of market value
Dividend payout ratio
44%
of net income paid out
Sales & admin spending
28.4%
of revenue

Competitors: side by side with peers

Closest by revenue in coal & consumable fuels
Last 12 months unless stated NC METC HCC AMR ARLP CCJ Median
Revenue, last 12 months $278m $515m $1.7bn $2.1bn $2.2bn $2.5bn $2.1bn
Revenue growth, last 12 months 4.7% −17.7% 37.5% −12.9% −5.1% 8.9% 2.0%
Revenue growth, 3-year average 5.5% −3.6% 1.1% −15.8% −6.3% — −3.6%
Revenue growth, latest quarter 6.0% −5.3% 71.3% −10.4% 0.7% — 3.5%
Gross margin 18.5% 13.5% 32.1% — — 27.9% 23.2%
Operating margin 8.3% −14.1% 13.6% −2.2% 14.7% 17.8% 5.1%
Operating margin, 3-year average −3.1% −2.8% 14.3% 4.3% 16.7% 0.9% 4.3%
Net margin 6.2% −12.0% 13.0% −2.2% 12.3% 16.9% 4.3%
Cash from operations / revenue 26.7% −8.2% 17.9% 6.7% 28.2% 40.4% 15.6%
Free-cash-flow margin 18.1% −22.2% 0.9% −0.1% 16.4% 30.9% 3.5%
Free-cash-flow margin, 3-year average 5.7% −1.7% −3.1% 6.9% 14.5% 25.9% 6.3%
Stock pay / revenue 0.2% 3.9% 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 4.7% 4.7% 4 of 8
Change in growth rate Growth -5.0pp +2.0pp 6 of 8
Operating margin Profitability 8.3% 8.3% 4 of 8
Net margin Profitability 6.2% 6.2% 4 of 8
Free-cash-flow margin Cash generation 18.1% 6.1% 2 of 8
Long-term debt as % of assets Balance sheet 15.3% 9.7% 6 of 8
Change in share count Balance sheet 1.7% 0.5% 5 of 6

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
Segments
Line of business Revenue YoY
Contract Mining $140M ▲ 17.1%
Utility Coal Mining $88.2M ▲ 28.5%
Minerals and Royalties $37.6M ▲ 8.8%

These categories overlap or exclude eliminations, so shares aren't shown.

From Nacco Industries Inc's 10-K filed March 4, 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
$106M
Institutions reporting
92
Shares held vs prior quarter
▼ 1.2%
Positions opened / closed
6 / 6

Top buyers and sellers, Q2 2026: 42 institutions bought and 26 sold ; the biggest buyer was Russell Investments Group, Ltd (+13K shares) and the biggest seller Curbstone Financial Management Corp (−58K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Dimensional Fund Advisors LP $20.1M 401K 18.9% ▲ 0.3%
Blackrock, Inc. $16M 320K 15.1% ▲ 3.3%
Vanguard Capital Management LLC $8.3M 167K 7.8% ▼ 2.0%
Renaissance Technologies LLC $7.4M 148K 7.0% ▼ 4.3%
Geode Capital Management, LLC $5.2M 105K 4.9% ▲ 7.0%
Mudita Advisors LLP $4.6M 93K 4.4% 0.0%
State Street Corp $4.2M 84K 3.9% ▲ 0.5%
Bridgeway Capital Management, LLC $3.9M 77K 3.6% 0.0%
Ancora Advisors LLC $2.8M 56K 2.6% ▲ 17.5%
PNC Financial Services Group, Inc. $2.5M 49K 2.3% ▲ 1.2%
Bank Of New York Mellon Corp $2.3M 46K 2.2% ▲ 0.3%
Empowered Funds, LLC $2.1M 43K 2.0% 0.0%

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 Nacco Industries Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $613,334 5 trades by 2 insiders · 0% under pre-set plans
Net ▼ $613,334 net selling
Insider Date Trade Shares Price Value
Loveman Elizabeth SVP and Controller March 13, 2026 Sell 1,662 $51.44 $85,493
Loveman Elizabeth SVP and Controller March 12, 2026 Sell 4,053 $52.04 $210,918
Maxwell Thomas A SVP Finance and Treasurer March 9, 2026 Sell 1,785 $48.55 $86,662
Loveman Elizabeth SVP and Controller November 12, 2025 Sell 1,897 $49.94 $94,736
Loveman Elizabeth SVP and Controller November 10, 2025 Sell 2,997 $45.22 $135,524

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

  • August 31, 2026
  • August 5, 2026
  • May 5, 2026
  • March 19, 2026
  • March 4, 2026
  • November 5, 2025

Recent SEC filings

Data status

When each part of this page on Nacco Industries 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.

Nacco Industries Inc in brief

What does Nacco Industries Inc do?
Nacco Industries Inc is a US-listed company in the coal & consumable fuels industry. Its financial year ends in December.
What is Nacco Industries Inc's stock ticker?
Nacco Industries Inc trades under the ticker NC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Nacco Industries Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Nacco Industries Inc reported revenue of $278M, 4.7% higher than a year earlier, according to its SEC filings.
What is Nacco Industries Inc's free cash flow?
Nacco Industries Inc's free-cash-flow margin is 18.1% of revenue over the trailing twelve months, ranking 2 of the 8 coal & consumable fuels companies we cover.
What is Nacco Industries Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Nacco Industries Inc's free cash flow after stock-based pay gives ~$50 per share in the base case, and ~$35–$69 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Nacco Industries Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Dimensional Fund Advisors LP, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Nacco Industries Inc buying back stock, and does it pay a dividend?
Nacco Industries Inc spent $1.8M on share repurchases over the trailing twelve months, and its diluted share count still rose 1.7% over the year.
What is Nacco Industries Inc's market cap?
On November 2, 2026, Nacco Industries Inc's market capitalisation was about $260M, with a price-to-earnings ratio of 15.0 and net debt of $58.1M. Market figures come from third-party market data and may be delayed.
Does Nacco Industries Inc pay a dividend?
Yes: Nacco Industries Inc paid $7.6M in dividends over the trailing twelve months, a dividend yield of 2.94% and a payout ratio of 44.2%.
Who are Nacco Industries Inc's competitors?
In our Coal & Consumable Fuels peer group, the companies closest to Nacco Industries Inc are Ramaco Resources, 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 Nacco Industries Inc's.
Are insiders buying or selling Nacco Industries Inc stock?
Over the last 12 months, Nacco Industries Inc's directors and officers reported 0 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Nacco Industries Inc's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Nacco Industries Inc announces its own schedule.