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Ramaco Resources, Inc. engages in the development, operation, and sale of metallurgical coal. The company's development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 88,850 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres located in southern West Virginia; and the Brook Mine property that covers an area of approximately 15,800 acres located in northeastern Wyoming. It serves blast furnace steel mills and coke plants in North America, as well as metallurgical coal consumers internationally. Ramaco Resources, Inc. was founded in 2015 and is based in Lexington, Kentucky.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $537M | $14M | $-51M | $-82M | -10.6% | -19.5% | -559.7% |
| 2024 | $666M | $87M | $11M | $44M | 3.1% | -3.9% | -86.4% |
| 2023 | $694M | $168M | $82M | $78M | 22.3% | 22.6% | -29.1% |
| 2022 | $566M | $194M | $116M | $64M | 37.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 565.69 | 693.52 | 666.29 | 536.62 |
| Cost Of Revenue | 332.96 | 493.79 | 533.29 | 453.39 |
| Gross Profit | 232.73 | 199.73 | 133 | 83.23 |
| Operating Expense | 82.34 | 104.49 | 116.37 | 139.19 |
| Operating Income | 150.39 | 95.25 | 16.64 | -55.96 |
| EBITDA | 194.22 | 167.82 | 86.66 | 13.82 |
| EBIT | 153.02 | 113.57 | 21.04 | -54.34 |
| Pretax Income | 146.19 | 104.66 | 14.92 | -62.14 |
| Tax Provision | 30.15 | 22.35 | 3.73 | -10.69 |
| Net Income | 116.04 | 82.31 | 11.19 | -51.45 |
| Net Income Common Stockholders | 116.04 | 82.31 | 11.19 | -51.45 |
| Total Expenses | 415.30 | 598.28 | 649.66 | 592.57 |
| Interest Expense | 6.83 | 8.90 | 6.12 | 7.80 |
| Selling General And Administration | 40.03 | 48.83 | 49.29 | 69.36 |
| Normalized EBITDA | 194.22 | 167.82 | 86.66 | 13.82 |
| Normalized Income | 116.04 | 82.31 | 11.19 | -51.45 |
| Basic EPS | 2.63 | 1.77 | 0.11 | -0.99 |
| Diluted EPS | 2.60 | 1.73 | 0.11 | -0.99 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.25 | 0.17 |
| Net Income From Continuing Operation Net Minority Interest | 116.04 | 82.31 | 11.19 | -51.45 |
| Reconciled Depreciation | 41.19 | 54.25 | 65.61 | 68.16 |
| Reconciled Cost Of Revenue | 332.96 | 493.79 | 533.29 | 453.39 |
| Net Interest Income | -6.83 | -8.90 | -6.12 | -7.80 |
| Net Income From Continuing And Discontinued Operation | 116.04 | 82.31 | 11.19 | -51.45 |
| Total Operating Income As Reported | 150.39 | 95.25 | 16.64 | -55.96 |
| Diluted Average Shares | 44.70 | 47.58 | 53.77 | 58.65 |
| Basic Average Shares | 44.16 | 46.50 | 53.77 | 58.65 |
| Diluted NI Availto Com Stockholders | 116.04 | 82.31 | 11.19 | -51.45 |
| Net Income Including Noncontrolling Interests | 116.04 | 82.31 | 11.19 | -51.45 |
| Net Income Continuous Operations | 116.04 | 82.31 | 11.19 | -51.45 |
| Other Income Expense | 2.64 | 18.32 | 4.41 | 1.62 |
| Other Non Operating Income Expenses | 2.64 | 18.32 | 4.41 | 1.62 |
| Net Non Operating Interest Income Expense | -6.83 | -8.90 | -6.12 | -7.80 |
| Interest Expense Non Operating | 6.83 | 8.90 | 6.12 | 7.80 |
| Other Operating Expenses | 1.11 | 1.40 | 1.47 | 1.67 |
| Depreciation Amortization Depletion Income Statement | 41.19 | 54.25 | 65.61 | 68.16 |
| Depreciation And Amortization In Income Statement | 41.19 | 54.25 | 65.61 | 68.16 |
| Depreciation Income Statement | 41.19 | 54.25 | 65.61 | 68.16 |
| Operating Revenue | 565.69 | 693.52 | 666.29 | 536.62 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ramaco Resources, Inc.this co. | METC | $956M | - | 2.00 | -10.6% | 72.74 |
| Stepan Company | SCL | $1.2B | 25.19 | 0.95 | 3.8% | 8.13 |
| LSB Industries, Inc. | LXU | $1.1B | 44.71 | 2.10 | 4.7% | 9.89 |
| Compass Minerals International, Inc. | CMP | $1.1B | - | 4.07 | -34.1% | 8.96 |
| Oil-Dri Corporation of America | ODC | $1.0B |
| 20.01 |
| 3.85 |
| - |
| 12.42 |
| Ferroglobe PLC | GSM | $839M | - | 1.41 | -24.7% | -28.41 |
| NWPX Infrastructure, Inc. | NWPX | $829M | 24.16 | 2.09 | 9.0% | 13.51 |
| Kronos Worldwide, Inc. | KRO | $826M | - | 1.10 | -14.8% | 81.56 |
| Koppers Holdings Inc. | KOP | $798M | 13.91 | 1.36 | 9.8% | 7.98 |
| Peer Median | - | 24.16 | 1.75 | 3.8% | 9.43 | |