Ramaco Resources (METCB) Financials

$13.84 -0.15 (-1.07%)

Closing price 04:00 PM Eastern

Extended Trading

$14.10 +0.26 (+1.88%)

As of 05:06 PM Eastern

Annual Income Statements for Ramaco Resources

This table shows Ramaco Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	0.00	-7.52	-15	25	25	-4.91	40	116	82	11
Consolidated Net Income / (Loss)	0.00	-7.52	-15	25	25	-4.91	40	116	82	11
Net Income / (Loss) Continuing Operations	0.00	-7.52	-15	25	25	-4.91	40	116	82	11
Total Pre-Tax Income	0.00	-7.52	-15	25	30	-8.39	44	146	105	15
Total Operating Income	0.00	-7.53	-16	24	30	-19	40	150	95	17
Total Gross Profit	0.00	0.82	0.52	51	68	23	88	233	200	133
Total Revenue	0.00	5.22	61	228	230	169	283	566	694	666
Operating Revenue	0.00	5.22	61	228	230	169	283	566	694	666
Total Cost of Revenue	0.00	4.40	61	177	162	146	195	333	494	533
Operating Cost of Revenue	-	4.40	61	177	162	146	195	333	494	533
Total Operating Expenses	0.00	8.35	16	27	38	43	48	82	104	116
Selling, General & Admin Expense	-	7.87	13	14	18	21	22	40	49	49
Depreciation Expense	-	0.25	3.15	12	20	21	26	41	54	66
Other Operating Expenses / (Income)	-	0.23	0.41	0.49	0.51	0.57	0.62	1.12	1.40	1.47
Total Other Income / (Expense), net	0.00	0.02	0.48	1.09	0.57	11	4.87	-4.19	9.42	-1.72
Interest & Investment Income	-	0.14	0.27	-	-	-1.22	-2.56	-6.83	-8.90	-6.12
Other Income / (Expense), net	-	0.00	0.20	2.52	1.76	12	7.43	2.64	18	4.41
Income Tax Expense	-	0.00	-	0.11	5.16	-3.48	4.65	30	22	3.73
Basic Earnings per Share	$0.00	$0.00	($0.41)	$0.63	$0.61	($0.12)	$0.90	$2.63	$1.77	$0.11
Weighted Average Basic Shares Outstanding	-	0.00	37.58M	40.04M	40.84M	42.46M	44.27M	44.45M	53.09M	54.00M
Diluted Earnings per Share	$0.00	$0.00	($0.41)	$0.62	$0.61	($0.12)	$0.90	$2.60	$1.73	$0.11
Weighted Average Diluted Shares Outstanding	-	0.00	37.58M	40.26M	40.84M	42.46M	44.27M	44.45M	53.09M	54.00M
Weighted Average Basic & Diluted Shares Outstanding	-	-	40.08M	40.84M	40.95M	42.64M	44.27M	44.45M	53.09M	54.00M

This table shows Ramaco Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	14	25	7.56	19	30	2.03	5.54	-0.24	3.86	-9.46	-14
Consolidated Net Income / (Loss)	14	25	7.56	19	30	2.03	5.54	-0.24	3.86	-9.46	-14
Net Income / (Loss) Continuing Operations	14	25	7.56	19	30	2.03	5.54	-0.24	3.86	-9.46	-14
Total Pre-Tax Income	17	31	10	25	39	2.57	6.46	-0.18	6.07	-14	-16
Total Operating Income	18	32	10	16	37	3.28	5.42	1.59	6.35	-12	-14
Total Gross Profit	40	56	38	42	63	33	33	33	35	21	19
Total Revenue	135	166	137	187	203	173	155	167	171	135	153
Operating Revenue	135	166	137	187	203	173	155	167	171	135	153
Total Cost of Revenue	95	111	99	145	139	140	123	135	136	114	134
Operating Cost of Revenue	95	111	99	145	139	140	123	135	136	114	134
Total Operating Expenses	22	24	28	26	26	30	27	31	28	33	33
Selling, General & Admin Expense	11	12	14	11	11	14	11	13	11	15	15
Depreciation Expense	11	12	14	14	14	15	16	18	17	18	17
Other Operating Expenses / (Income)	-0.37	0.35	0.35	0.35	0.36	0.35	0.35	0.35	0.40	0.40	0.40
Total Other Income / (Expense), net	-0.65	-1.06	-0.02	8.89	1.62	-0.70	1.04	-1.77	-0.28	-1.73	-2.16
Interest & Investment Income	-1.51	-2.31	-2.52	-2.45	-1.63	-1.33	-1.48	-1.70	-1.61	-2.23	-2.82
Other Income / (Expense), net	0.86	1.25	2.50	11	3.25	0.63	2.52	-0.08	1.33	0.51	0.66
Income Tax Expense	3.08	5.55	2.47	5.51	8.83	0.54	0.92	0.06	2.21	-4.29	-2.03
Basic Earnings per Share	$0.33	$0.57	$0.17	$0.41	$0.62	$0.24	$0.26	($0.03)	($0.18)	($0.39)	($0.41)
Weighted Average Basic Shares Outstanding	44.45M	44.41M	52.69M	52.69M	53.09M	53.09M	52.45M	52.53M	54.00M	54.70M	55.23M
Diluted Earnings per Share	$0.34	$0.57	$0.17	$0.40	$0.59	$0.23	$0.26	($0.03)	($0.17)	($0.39)	($0.41)
Weighted Average Diluted Shares Outstanding	44.45M	44.41M	52.69M	52.69M	53.09M	53.09M	52.45M	52.53M	54.00M	54.70M	55.23M
Weighted Average Basic & Diluted Shares Outstanding	44.45M	44.41M	52.69M	52.69M	53.09M	53.09M	52.45M	52.53M	54.00M	54.70M	55.23M

This table details how cash moves in and out of Ramaco Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	0.99	4.20	1.02	1.16	-0.52	-0.16	16	14	6.31	-8.96
Net Cash From Operating Activities	-1.92	-3.86	-8.47	36	42	13	53	188	161	113
Net Cash From Continuing Operating Activities	-1.92	-3.86	-8.47	36	42	13	53	188	161	113
Net Income / (Loss) Continuing Operations	-2.34	-7.52	-15	25	25	-4.91	40	116	82	11
Consolidated Net Income / (Loss)	-2.34	-7.52	-15	25	25	-4.91	40	116	82	11
Depreciation Expense	0.00	0.25	3.15	12	20	21	26	41	54	66
Amortization Expense	-	0.00	-	0.57	0.06	0.06	0.21	0.49	0.78	0.93
Non-Cash Adjustments To Reconcile Net Income	0.07	3.62	3.23	3.13	4.57	-3.73	0.47	7.98	4.12	19
Changes in Operating Assets and Liabilities, net	0.34	-0.22	0.57	-5.02	-6.70	0.98	-13	22	20	16
Net Cash From Investing Activities	-3.46	-77	-20	-43	-46	-25	-60	-146	-72	-71
Net Cash From Continuing Investing Activities	-3.46	-77	-20	-43	-46	-25	-60	-145	-72	-71
Purchase of Property, Plant & Equipment	-4.85	-17	-75	-48	-46	-25	-29	-123	-83	-69
Acquisitions	0.00	-0.30	-	-	0.00	0.00	-30	-12	0.00	0.00
Sale of Property, Plant & Equipment	-	-	-	-	-	-	0.00	0.00	11	0.00
Other Investing Activities, net	1.39	-	-	-	-	0.00	0.00	-9.90	-0.56	-1.99
Net Cash From Financing Activities	6.37	86	29	7.92	2.83	11	22	-28	-83	-51
Net Cash From Continuing Financing Activities	6.37	86	29	7.92	2.83	11	22	-28	-83	-51
Repayment of Debt	-1.39	-0.92	-11	-23	-70	-46	-29	-47	-168	-199
Payment of Dividends	0.00	0.00	-5.41	-	-	0.00	0.00	-20	-26	-25
Issuance of Debt	1.02	0.86	-	31	74	50	54	42	130	197
Other Financing Activities, net	6.74	1.88	-0.13	-0.99	-0.59	6.84	-3.34	-3.08	-19	-24
Cash Interest Paid	0.00	0.11	0.09	0.83	1.00	1.10	1.60	7.06	8.11	4.76
Cash Income Taxes Paid	0.00	0.00	0.00	0.00	0.00	0.02	0.01	16	0.77	1.23

This table details how cash moves in and out of Ramaco Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-11	1.00	-2.73	9.04	-1.00	-11	-2.93	-4.71	10	10	-15
Net Cash From Operating Activities	29	21	28	70	42	25	34	37	16	26	-4.26
Net Cash From Continuing Operating Activities	29	21	28	70	42	25	34	37	16	26	-4.26
Net Income / (Loss) Continuing Operations	14	25	7.56	19	30	2.03	5.54	-0.24	3.86	-9.46	-14
Consolidated Net Income / (Loss)	14	25	7.56	19	30	2.03	5.54	-0.24	3.86	-9.46	-14
Depreciation Expense	11	12	14	14	14	15	16	18	17	18	17
Amortization Expense	0.12	0.15	0.21	0.21	0.21	0.21	0.23	0.22	0.27	0.35	0.36
Non-Cash Adjustments To Reconcile Net Income	2.42	3.29	1.98	0.57	-1.73	5.03	4.94	4.32	4.61	3.76	5.15
Changes in Operating Assets and Liabilities, net	0.85	-19	4.92	35	-1.36	2.70	7.82	15	-9.77	14	-13
Net Cash From Investing Activities	-34	-22	-21	-14	-14	-19	-21	-18	-13	-22	-14
Net Cash From Continuing Investing Activities	-33	-22	-21	-14	-14	-19	-21	-18	-13	-22	-14
Purchase of Property, Plant & Equipment	-32	-24	-24	-17	-18	-19	-21	-18	-11	-20	-15
Other Investing Activities, net	-1.18	1.18	3.00	2.98	-7.72	0.07	0.09	-0.33	-1.81	-1.94	1.05
Net Cash From Financing Activities	-6.63	2.01	-9.48	-47	-28	-18	-16	-24	7.19	6.67	3.02
Net Cash From Continuing Financing Activities	-6.63	2.01	-9.48	-47	-28	-18	-16	-24	7.19	6.67	3.02
Repayment of Debt	-30	-37	-25	-63	-41	-55	-53	-49	-38	-7.17	-23
Payment of Dividends	-5.05	-5.56	-5.55	-6.94	-7.77	-8.32	-8.18	-7.97	-0.13	-2.48	-1.86
Issuance of Debt	25	45	33	18	35	52	45	40	60	19	28

This table presents Ramaco Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	119	148	188	227	229	329	596	666	675
Total Current Assets	63	29	35	44	42	87	147	190	168
Cash & Equivalents	5.20	5.93	6.95	5.53	5.30	22	36	42	33
Accounts Receivable	0.91	7.17	11	19	20	44	41	97	74
Inventories, net	1.52	10	14	15	12	16	45	37	43
Prepaid Expenses	0.39	1.10	3.15	4.27	4.95	4.63	26	14	18
Plant, Property, & Equipment, net	46	115	149	178	181	227	430	459	482
Total Noncurrent Assets	9.52	3.19	4.02	4.29	5.59	15	19	17	25
Noncurrent Note & Lease Receivables	-	-	-	-	0.00	9.13	13	10	12
Other Noncurrent Operating Assets	4.32	3.19	4.02	4.29	5.59	6.07	6.10	6.72	13
Total Liabilities & Shareholders' Equity	119	148	188	227	229	329	596	666	675
Total Liabilities	35	35	47	57	60	118	287	296	312
Total Current Liabilities	15	22	30	26	29	47	163	170	122
Short-Term Debt	0.50	0.00	5.00	3.33	4.87	7.67	36	57	0.36
Accounts Payable	8.96	20	16	11	12	15	35	52	49
Accrued Expenses	1.17	2.82	8.09	12	12	19	42	52	62
Other Current Liabilities	4.73	0.07	0.36	0.68	0.91	4.23	51	9.60	12
Total Noncurrent Liabilities	109	12	17	30	30	71	124	126	189
Long-Term Debt	11	0.00	4.47	9.61	13	36	52	34	88
Capital Lease Obligations	-	-	-	-	0.00	4.60	4.92	4.92	7.52
Asset Retirement Reserve & Litigation Obligation	9.43	12	13	15	15	22	29	29	30
Noncurrent Deferred & Payable Income Tax Liabilities	-	0.00	0.11	5.27	1.76	6.41	36	54	56
Other Noncurrent Operating Liabilities	89	-	-	0.85	0.97	2.53	3.30	4.48	7.66
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-4.99	113	141	170	169	211	309	370	363
Total Preferred & Common Equity	-4.99	113	141	170	169	211	309	370	363
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-4.99	113	141	170	169	211	309	370	363
Common Stock	0.00	149	151	155	159	164	169	278	293
Retained Earnings	-18	-35	-10	15	9.81	47	140	92	70

This table presents Ramaco Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	562	641	660	647	674	659	645	686	675
Total Current Assets	142	178	178	169	183	161	147	164	155
Cash & Equivalents	47	37	34	43	31	28	23	43	28
Accounts Receivable	50	71	59	64	104	70	63	52	56
Inventories, net	40	51	67	50	41	52	53	56	59
Prepaid Expenses	4.96	19	18	12	7.29	11	7.85	12	12
Plant, Property, & Equipment, net	403	444	458	457	466	475	477	488	487
Total Noncurrent Assets	17	20	25	21	25	24	22	34	32
Noncurrent Note & Lease Receivables	9.84	12	17	13	17	14	12	20	20
Other Noncurrent Operating Assets	7.21	7.11	7.66	7.57	8.00	9.81	9.96	14	13
Total Liabilities & Shareholders' Equity	562	641	660	647	674	659	645	686	675
Total Liabilities	263	304	323	294	302	293	284	330	327
Total Current Liabilities	150	151	142	143	148	121	109	124	114
Short-Term Debt	31	30	25	28	28	7.20	0.38	0.31	0.22
Accounts Payable	65	80	50	52	60	48	54	59	56
Accrued Expenses	49	33	39	46	50	58	48	54	48
Other Current Liabilities	5.26	8.56	28	16	11	7.69	6.24	11	9.70
Total Noncurrent Liabilities	113	153	181	152	153	172	175	206	213
Long-Term Debt	50	79	97	67	58	76	77	104	114
Capital Lease Obligations	3.78	3.98	8.30	5.77	8.54	7.51	6.68	13	12
Asset Retirement Reserve & Litigation Obligation	28	29	30	28	29	29	31	30	31
Noncurrent Deferred & Payable Income Tax Liabilities	18	38	42	46	52	55	55	51	50
Other Noncurrent Operating Liabilities	3.37	3.74	4.08	4.32	4.96	4.94	5.41	6.75	7.06
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	299	337	337	353	372	366	362	355	347
Total Preferred & Common Equity	299	337	337	353	372	366	362	355	347
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	299	337	337	353	372	366	362	355	347
Common Stock	167	172	273	276	280	277	282	307	315
Retained Earnings	131	165	64	76	92	89	80	48	33

This table displays calculated financial ratios and metrics derived from Ramaco Resources' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	1,070.17%	272.85%	1.16%	-26.63%	67.77%	99.61%	22.60%	-3.93%
EBITDA Growth	0.00%	0.00%	-72.23%	415.96%	28.44%	-72.87%	431.63%	165.34%	-13.41%	-48.05%
EBIT Growth	0.00%	0.00%	-108.35%	269.63%	17.57%	-122.91%	755.25%	225.85%	-25.79%	-81.47%
NOPAT Growth	0.00%	0.00%	-111.06%	315.62%	1.99%	-154.63%	364.84%	237.24%	-37.25%	-83.34%
Net Income Growth	0.00%	0.00%	-105.15%	262.64%	-0.56%	-119.68%	910.25%	191.86%	-29.07%	-86.40%
EPS Growth	0.00%	0.00%	0.00%	251.22%	-1.61%	-119.67%	850.00%	188.89%	-33.46%	-93.64%
Operating Cash Flow Growth	0.00%	-101.48%	-119.35%	527.24%	17.13%	-68.59%	300.69%	252.21%	-14.28%	-30.04%
Free Cash Flow Firm Growth	0.00%	0.00%	-418.85%	89.95%	45.92%	-82.04%	-19.90%	55.16%	294.52%	-47.75%
Invested Capital Growth	0.00%	0.00%	271.90%	40.45%	23.58%	2.11%	30.85%	54.21%	15.59%	0.74%
Revenue Q/Q Growth	0.00%	0.00%	49.72%	9.72%	0.62%	39.09%	-1.93%	9.21%	10.78%	-4.56%
EBITDA Q/Q Growth	0.00%	0.00%	5.89%	23.52%	3.10%	26.07%	115.17%	0.08%	17.18%	-25.80%
EBIT Q/Q Growth	0.00%	0.00%	-5.68%	23.75%	0.41%	27.90%	378.23%	-2.42%	23.38%	-60.93%
NOPAT Q/Q Growth	0.00%	0.00%	-7.05%	23.56%	-7.00%	-34.46%	260.45%	-3.59%	22.92%	-66.48%
Net Income Q/Q Growth	0.00%	0.00%	-7.42%	31.41%	-5.69%	-1,979.24%	116.82%	-3.54%	23.48%	-70.05%
EPS Q/Q Growth	0.00%	0.00%	0.00%	31.91%	-7.58%	-400.00%	143.24%	-2.62%	16.89%	-87.36%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	39.89%	47.53%	0.59%	-21.26%	6.42%	7.73%	8.41%	-18.68%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	57.02%	-62.08%	28.35%	-317.66%	68.91%	594.50%	-62.90%
Invested Capital Q/Q Growth	0.00%	0.00%	18.20%	-1.87%	-0.55%	-5.81%	23.00%	5.63%	2.91%	0.72%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	15.70%	0.84%	22.42%	29.43%	13.86%	31.05%	41.14%	28.80%	19.96%
EBITDA Margin	0.00%	-139.53%	-20.54%	17.40%	22.10%	8.17%	25.89%	34.42%	24.31%	13.15%
Operating Margin	0.00%	-144.36%	-26.04%	10.59%	12.83%	-11.30%	13.95%	26.58%	13.73%	2.50%
EBIT Margin	0.00%	-144.36%	-25.70%	11.69%	13.59%	-4.24%	16.57%	27.05%	16.38%	3.16%
Profit (Net Income) Margin	0.00%	-144.08%	-25.26%	11.02%	10.83%	-2.91%	14.03%	20.51%	11.87%	1.68%
Tax Burden Percent	0.00%	100.00%	100.00%	99.55%	82.85%	58.48%	89.54%	79.37%	78.65%	75.01%
Interest Burden Percent	0.00%	99.80%	98.27%	94.64%	96.19%	117.08%	94.56%	95.54%	92.16%	70.90%
Effective Tax Rate	0.00%	0.00%	0.00%	0.45%	17.15%	0.00%	10.46%	20.63%	21.35%	24.99%
Return on Invested Capital (ROIC)	0.00%	0.00%	-52.02%	19.51%	15.24%	-7.45%	16.92%	39.60%	19.00%	2.94%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-38.94%	-5.72%	24.66%	79.01%	39.74%	31.54%	32.51%	0.73%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	23.58%	0.19%	0.79%	4.56%	4.00%	5.01%	5.25%	0.12%
Return on Equity (ROE)	0.00%	150.73%	-28.44%	19.70%	16.02%	-2.89%	20.92%	44.61%	24.25%	3.06%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-169.05%	-14.14%	-5.85%	-9.54%	-9.81%	-3.05%	4.54%	2.20%
Operating Return on Assets (OROA)	0.00%	-6.32%	-11.74%	15.83%	15.08%	-3.15%	16.84%	33.07%	18.00%	3.14%
Return on Assets (ROA)	0.00%	-6.30%	-11.54%	14.91%	12.01%	-2.15%	14.26%	25.08%	13.04%	1.67%
Return on Common Equity (ROCE)	0.00%	150.73%	-28.44%	19.70%	16.02%	-2.89%	20.92%	44.61%	24.25%	3.06%
Return on Equity Simple (ROE_SIMPLE)	0.00%	150.73%	-13.60%	17.77%	14.66%	-2.90%	18.84%	37.53%	22.27%	3.08%
Net Operating Profit after Tax (NOPAT)	0.00	-5.27	-11	24	24	-13	35	119	75	12
NOPAT Margin	0.00%	-101.05%	-18.23%	10.54%	10.63%	-7.91%	12.49%	21.10%	10.80%	1.87%
Net Nonoperating Expense Percent (NNEP)	0.00%	-8.23%	-13.08%	25.23%	-9.42%	-86.46%	-22.82%	8.06%	-13.51%	2.22%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	29.74%	16.12%	2.72%
Cost of Revenue to Revenue	0.00%	84.30%	99.16%	77.58%	70.57%	86.14%	68.95%	58.86%	71.20%	80.04%
SG&A Expenses to Revenue	0.00%	150.84%	21.05%	6.15%	7.90%	12.45%	7.63%	7.08%	7.04%	7.40%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	160.07%	26.88%	11.83%	16.60%	25.16%	17.10%	14.56%	15.07%	17.46%
Earnings before Interest and Taxes (EBIT)	0.00	-7.53	-16	27	31	-7.17	47	153	114	21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	0.00	-7.28	-13	40	51	14	73	195	169	88
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.30	1.35	0.83	0.70	3.73	2.45	2.32	1.46
Price to Tangible Book Value (P/TBV)	0.00	0.00	2.30	1.35	0.83	0.70	3.73	2.45	2.32	1.46
Price to Revenue (P/Rev)	0.00	0.00	4.28	0.84	0.61	0.70	2.78	1.34	1.24	0.80
Price to Earnings (P/E)	0.00	0.00	0.00	7.59	5.64	0.00	19.79	6.54	10.41	47.46
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.54%	5.48%
Earnings Yield	0.00%	0.00%	0.00%	13.17%	17.73%	0.00%	5.05%	15.30%	9.60%	2.11%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.45	1.34	0.83	0.72	3.43	2.23	2.15	1.40
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	4.10	0.85	0.64	0.77	2.87	1.44	1.31	0.89
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	4.87	2.91	9.43	11.08	4.19	5.40	6.78
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	7.25	4.73	0.00	17.31	5.33	8.01	28.24
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	8.04	6.05	0.00	22.97	6.83	12.15	47.61
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	5.33	3.49	9.78	15.24	4.34	5.65	5.27
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	50.85	63.54
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	-2.23	0.00	0.07	0.08	0.10	0.23	0.30	0.26	0.26
Long-Term Debt to Equity	0.00	-2.13	0.00	0.03	0.06	0.07	0.19	0.18	0.10	0.26
Financial Leverage	0.00	10.93	-0.61	-0.03	0.03	0.06	0.10	0.16	0.16	0.16
Leverage Ratio	0.00	-23.91	2.47	1.32	1.33	1.34	1.47	1.78	1.86	1.83
Compound Leverage Factor	0.00	-23.86	2.42	1.25	1.28	1.57	1.39	1.70	1.71	1.30
Debt to Total Capital	0.00%	181.16%	0.00%	6.29%	7.07%	9.35%	18.52%	22.96%	20.46%	20.94%
Short-Term Debt to Total Capital	0.00%	8.14%	0.00%	3.32%	1.82%	2.61%	2.96%	8.88%	12.17%	0.08%
Long-Term Debt to Total Capital	0.00%	173.02%	0.00%	2.97%	5.25%	6.74%	15.56%	14.08%	8.30%	20.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-81.16%	100.00%	93.71%	92.93%	90.65%	81.48%	77.04%	79.54%	79.06%
Debt to EBITDA	0.00	-1.53	0.00	0.24	0.25	1.26	0.65	0.47	0.56	1.10
Net Debt to EBITDA	0.00	7.49	0.00	0.06	0.15	0.88	0.36	0.29	0.32	0.72
Long-Term Debt to EBITDA	0.00	-1.46	0.00	0.11	0.19	0.91	0.55	0.29	0.23	1.09
Debt to NOPAT	0.00	-2.11	0.00	0.39	0.53	-1.31	1.36	0.77	1.27	7.70
Net Debt to NOPAT	0.00	10.34	0.00	0.11	0.30	-0.91	0.74	0.47	0.71	5.05
Long-Term Debt to NOPAT	0.00	-2.02	0.00	0.19	0.39	-0.94	1.14	0.47	0.51	7.67
Altman Z-Score	0.00	0.00	4.30	4.06	3.14	1.96	5.68	3.68	3.57	2.34
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	4.12	1.31	1.17	1.68	1.46	1.86	0.91	1.12	1.37
Quick Ratio	0.00	3.99	0.82	0.59	0.94	0.88	1.42	0.47	0.82	0.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	54	-173	-17	-9.40	-17	-21	-9.20	18	9.35
Operating Cash Flow to CapEx	-39.52%	-23.09%	-11.29%	75.17%	92.70%	53.78%	181.02%	152.72%	224.76%	163.66%
Free Cash Flow to Firm to Interest Expense	0.00	437.25	0.00	-12.18	-7.88	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	-31.14	0.00	25.36	35.53	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-166.00	0.00	-8.38	-2.80	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.04	0.46	1.35	1.11	0.74	1.02	1.22	1.10	0.99
Accounts Receivable Turnover	0.00	5.70	15.11	25.43	15.36	8.54	8.75	13.21	10.05	7.82
Inventory Turnover	0.00	2.90	10.46	14.57	11.04	10.70	14.09	10.96	12.02	13.25
Fixed Asset Turnover	0.00	0.11	0.75	1.72	1.41	0.94	1.39	1.72	1.56	1.42
Accounts Payable Turnover	0.00	0.49	4.25	9.83	12.01	12.99	14.43	13.27	11.42	10.62
Days Sales Outstanding (DSO)	0.00	64.01	24.16	14.35	23.77	42.74	41.70	27.62	36.33	46.69
Days Inventory Outstanding (DIO)	0.00	126.06	34.91	25.06	33.08	34.13	25.91	33.31	30.36	27.56
Days Payable Outstanding (DPO)	0.00	743.44	85.91	37.14	30.39	28.10	25.30	27.50	31.95	34.39
Cash Conversion Cycle (CCC)	0.00	-553.36	-26.84	2.27	26.46	48.76	42.31	33.43	34.73	39.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-59	102	144	177	181	237	366	423	426
Invested Capital Turnover	0.00	-0.18	2.85	1.85	1.43	0.94	1.35	1.88	1.76	1.57
Increase / (Decrease) in Invested Capital	0.00	-59	162	41	34	3.75	56	129	57	3.13
Enterprise Value (EV)	0.00	0.00	250	193	148	130	813	815	910	594
Market Capitalization	0.00	0.00	261	190	141	118	787	759	857	531
Book Value per Share	$0.00	$0.00	$2.87	$3.52	$4.16	$3.96	$4.79	$7.01	$7.02	$6.91
Tangible Book Value per Share	$0.00	$0.00	$2.87	$3.52	$4.16	$3.96	$4.79	$7.01	$7.02	$6.91
Total Capital	0.00	6.14	113	151	183	187	259	401	465	459
Total Debt	0.00	11	0.00	9.47	13	17	48	92	95	96
Total Long-Term Debt	0.00	11	0.00	4.47	9.61	13	40	57	39	96
Net Debt	0.00	-55	-11	2.52	7.42	12	26	57	53	63
Capital Expenditures (CapEx)	4.85	17	75	48	46	25	29	123	72	69
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-12	-4.10	3.22	16	13	26	-15	34	13
Debt-free Net Working Capital (DFNWC)	0.00	48	7.04	10	21	18	48	20	76	46
Net Working Capital (NWC)	0.00	48	7.04	5.17	18	13	40	-15	20	45
Net Nonoperating Expense (NNE)	0.00	2.24	4.29	-1.09	-0.47	-8.46	-4.36	3.33	-7.41	1.29
Net Nonoperating Obligations (NNO)	0.00	-55	-11	2.52	7.42	12	26	57	53	63
Total Depreciation and Amortization (D&A)	0.00	0.25	3.15	13	20	21	26	42	55	67
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-230.72%	-6.71%	1.42%	6.83%	7.67%	9.13%	-2.71%	4.95%	1.88%
Debt-free Net Working Capital to Revenue	0.00%	927.92%	11.53%	4.47%	9.23%	10.81%	16.86%	3.59%	11.00%	6.84%
Net Working Capital to Revenue	0.00%	918.33%	11.53%	2.27%	7.78%	7.92%	14.15%	-2.71%	2.85%	6.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.63	$0.61	($0.12)	$0.00	$2.63	$1.77	$0.11
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	40.08M	40.04M	40.84M	42.46M	0.00	44.16M	53.09M	54.00M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.62	$0.61	($0.12)	$0.00	$2.60	$1.73	$0.11
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	40.08M	40.26M	40.84M	42.46M	0.00	44.70M	53.09M	54.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	40.08M	40.84M	40.95M	42.64M	0.00	44.45M	53.09M	54.00M
Normalized Net Operating Profit after Tax (NOPAT)	0.00	-5.27	-11	24	24	-13	35	119	75	12
Normalized NOPAT Margin	0.00%	-101.05%	-18.23%	10.54%	10.63%	-7.91%	12.49%	21.10%	10.80%	1.87%
Pre Tax Income Margin	0.00%	-144.08%	-25.26%	11.07%	13.07%	-4.97%	15.67%	25.84%	15.09%	2.24%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-60.73	0.00	18.65	26.23	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	-42.51	0.00	16.81	20.51	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	-195.59	0.00	-15.08	-12.10	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	-177.37	0.00	-16.92	-17.82	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	-35.06%	0.00%	0.00%	0.00%	0.00%	17.27%	31.37%	219.82%
Augmented Payout Ratio	0.00%	0.00%	-46.45%	0.00%	0.00%	0.00%	0.00%	17.27%	31.37%	219.82%

This table displays calculated financial ratios and metrics derived from Ramaco Resources' official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	54.54%	7.41%	-0.86%	36.55%	49.92%	3.80%	12.98%	-10.46%	-15.70%	-22.02%	-1.52%
EBITDA Growth	0.53%	-27.30%	-52.12%	-11.09%	81.30%	-57.15%	-8.57%	-53.52%	-55.25%	-67.01%	-82.49%
EBIT Growth	-16.67%	-37.82%	-72.15%	-23.33%	113.40%	-88.21%	-36.71%	-94.46%	-81.03%	-395.01%	-266.13%
NOPAT Growth	-23.02%	-37.91%	-77.02%	-57.46%	92.92%	-90.10%	-38.63%	-91.10%	-85.98%	-425.25%	-308.51%
Net Income Growth	-22.82%	-39.10%	-77.30%	-27.66%	108.80%	-91.95%	-26.67%	-101.23%	-87.16%	-565.40%	-352.19%
EPS Growth	-17.07%	-38.04%	-77.03%	-33.33%	73.53%	-59.65%	-52.94%	-107.50%	-128.81%	-269.57%	-257.69%
Operating Cash Flow Growth	86.56%	-72.39%	-11.64%	41.21%	42.96%	17.91%	21.97%	-46.52%	-62.27%	3.38%	-112.38%
Free Cash Flow Firm Growth	-211.12%	-5,454.09%	-38.00%	58.03%	75.17%	86.29%	107.67%	79.03%	103.22%	93.63%	-372.57%
Invested Capital Growth	54.21%	80.33%	44.02%	18.65%	15.59%	5.87%	-1.14%	2.93%	0.74%	-1.61%	3.84%
Revenue Q/Q Growth	-1.24%	23.02%	-17.37%	36.01%	8.43%	-14.82%	-10.05%	7.79%	2.08%	-21.20%	13.59%
EBITDA Q/Q Growth	-35.76%	48.42%	-41.70%	59.92%	31.01%	-64.92%	24.41%	-18.70%	26.13%	-74.14%	-33.99%
EBIT Q/Q Growth	-46.93%	74.50%	-62.13%	118.60%	47.72%	-90.36%	103.30%	-80.87%	406.19%	-249.88%	-14.49%
NOPAT Q/Q Growth	-49.36%	75.09%	-71.01%	65.52%	129.66%	-91.01%	79.62%	-75.99%	261.82%	-308.44%	-15.16%
Net Income Q/Q Growth	-46.53%	75.57%	-70.08%	157.57%	54.34%	-93.24%	172.69%	-104.31%	1,714.23%	-345.13%	-47.76%
EPS Q/Q Growth	-43.33%	67.65%	-70.18%	135.29%	47.50%	-61.02%	-65.22%	-137.50%	-466.67%	-129.41%	-5.13%
Operating Cash Flow Q/Q Growth	-41.27%	-26.52%	32.09%	147.72%	-40.54%	-39.39%	36.63%	8.62%	-58.05%	66.04%	-116.36%
Free Cash Flow Firm Q/Q Growth	8.31%	-38.69%	20.66%	58.40%	45.75%	23.41%	144.37%	-213.74%	108.33%	-251.49%	-1,798.05%
Invested Capital Q/Q Growth	5.63%	12.78%	5.19%	-5.32%	2.91%	3.30%	-1.77%	-1.43%	0.72%	0.89%	3.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	29.43%	33.55%	27.84%	22.64%	31.23%	19.09%	20.95%	19.52%	20.37%	15.24%	12.28%
EBITDA Margin	22.48%	27.12%	19.13%	22.50%	27.18%	11.20%	15.48%	11.68%	14.43%	4.74%	2.75%
Operating Margin	13.40%	19.16%	7.31%	8.60%	18.37%	1.90%	3.49%	0.95%	3.72%	-8.93%	-9.05%
EBIT Margin	14.03%	19.91%	9.12%	14.66%	19.98%	2.26%	5.11%	0.91%	4.50%	-8.55%	-8.62%
Profit (Net Income) Margin	10.64%	15.18%	5.50%	10.41%	14.82%	1.18%	3.57%	-0.14%	2.26%	-7.02%	-9.14%
Tax Burden Percent	82.35%	81.99%	75.39%	77.95%	77.28%	79.00%	85.83%	134.27%	63.56%	68.79%	87.32%
Interest Burden Percent	92.06%	93.03%	79.92%	91.07%	95.98%	65.88%	81.34%	-11.73%	79.00%	119.36%	121.37%
Effective Tax Rate	17.65%	18.01%	24.61%	22.05%	22.72%	21.00%	14.17%	0.00%	36.44%	0.00%	0.00%
Return on Invested Capital (ROIC)	20.71%	28.27%	8.63%	11.09%	24.98%	2.47%	4.98%	1.12%	3.71%	-9.06%	-9.07%
ROIC Less NNEP Spread (ROIC-NNEP)	19.41%	24.95%	8.60%	24.19%	27.26%	1.68%	6.10%	-1.16%	3.40%	-10.57%	-14.40%
Return on Net Nonoperating Assets (RNNOA)	3.08%	2.22%	1.65%	3.93%	4.40%	0.33%	1.38%	-0.19%	0.54%	-2.02%	-3.24%
Return on Equity (ROE)	23.79%	30.49%	10.28%	15.02%	29.38%	2.80%	6.36%	0.92%	4.25%	-11.08%	-12.32%
Cash Return on Invested Capital (CROIC)	-3.05%	-25.05%	-14.84%	-0.96%	4.54%	6.44%	12.41%	6.05%	2.20%	1.84%	-6.63%
Operating Return on Assets (OROA)	17.16%	21.93%	9.14%	15.19%	21.95%	2.41%	5.56%	0.98%	4.47%	-7.90%	-8.09%
Return on Assets (ROA)	13.01%	16.73%	5.51%	10.78%	16.28%	1.25%	3.88%	-0.15%	2.24%	-6.49%	-8.57%
Return on Common Equity (ROCE)	23.79%	30.49%	10.28%	15.02%	29.38%	2.80%	6.36%	0.92%	4.25%	-11.08%	-12.32%
Return on Equity Simple (ROE_SIMPLE)	0.00%	29.63%	21.98%	18.91%	0.00%	15.87%	15.59%	10.33%	0.00%	-0.08%	0.00%
Net Operating Profit after Tax (NOPAT)	15	26	7.57	13	29	2.59	4.65	1.12	4.04	-8.42	-9.69
NOPAT Margin	11.03%	15.71%	5.51%	6.70%	14.20%	1.50%	2.99%	0.67%	2.36%	-6.25%	-6.34%
Net Nonoperating Expense Percent (NNEP)	1.30%	3.33%	0.03%	-13.10%	-2.28%	0.79%	-1.12%	2.27%	0.31%	1.50%	5.33%
Return On Investment Capital (ROIC_SIMPLE)	3.72%	-	-	-	6.20%	-	-	-	0.88%	-1.78%	-2.05%
Cost of Revenue to Revenue	70.57%	66.45%	72.16%	77.36%	68.77%	80.91%	79.05%	80.48%	79.63%	84.76%	87.72%
SG&A Expenses to Revenue	7.95%	7.06%	10.42%	6.13%	5.58%	8.17%	7.02%	7.72%	6.64%	10.84%	9.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.03%	14.39%	20.53%	14.04%	12.86%	17.19%	17.47%	18.57%	16.65%	24.17%	21.33%
Earnings before Interest and Taxes (EBIT)	19	33	13	27	40	3.90	7.94	1.52	7.68	-12	-13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	30	45	26	42	55	19	24	20	25	6.38	4.21
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.45	2.35	1.07	1.58	2.32	2.38	1.81	1.70	1.46	1.25	2.07
Price to Tangible Book Value (P/TBV)	2.45	2.35	1.07	1.58	2.32	2.38	1.81	1.70	1.46	1.25	2.07
Price to Revenue (P/Rev)	1.34	1.37	0.62	0.89	1.24	1.26	0.92	0.88	0.80	0.71	1.15
Price to Earnings (P/E)	6.54	7.94	4.85	8.38	10.41	14.98	11.58	16.42	47.46	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	1.18%	1.54%	2.32%	4.22%	4.59%	5.48%	6.71%	3.68%
Earnings Yield	15.30%	12.59%	20.60%	11.94%	9.60%	6.68%	8.63%	6.09%	2.11%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.23	2.11	1.05	1.50	2.15	2.17	1.69	1.60	1.40	1.21	1.83
Enterprise Value to Revenue (EV/Rev)	1.44	1.50	0.79	0.98	1.31	1.36	1.01	0.97	0.89	0.83	1.30
Enterprise Value to EBITDA (EV/EBITDA)	4.19	4.89	3.06	4.28	5.40	6.65	5.15	5.72	6.78	6.95	14.90
Enterprise Value to EBIT (EV/EBIT)	5.33	6.54	4.55	6.70	8.01	11.26	9.08	12.53	28.24	92.28	0.00
Enterprise Value to NOPAT (EV/NOPAT)	6.83	8.40	5.85	10.12	12.15	18.43	14.90	18.12	47.61	553.52	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	4.34	6.59	3.56	4.15	5.65	5.76	4.23	4.87	5.27	4.57	10.91
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	50.85	34.75	13.52	26.77	63.54	65.05	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.30	0.33	0.39	0.29	0.26	0.26	0.25	0.23	0.26	0.33	0.36
Long-Term Debt to Equity	0.18	0.24	0.31	0.21	0.10	0.18	0.23	0.23	0.26	0.33	0.36
Financial Leverage	0.16	0.09	0.19	0.16	0.16	0.20	0.23	0.17	0.16	0.19	0.23
Leverage Ratio	1.78	1.78	1.86	1.86	1.86	1.85	1.88	1.81	1.83	1.87	1.87
Compound Leverage Factor	1.64	1.66	1.49	1.69	1.78	1.22	1.53	-0.21	1.45	2.23	2.27
Debt to Total Capital	22.96%	24.98%	27.93%	22.29%	20.46%	20.32%	19.80%	18.81%	20.94%	24.91%	26.63%
Short-Term Debt to Total Capital	8.88%	6.61%	5.42%	6.17%	12.17%	6.04%	1.58%	0.09%	0.08%	0.06%	0.05%
Long-Term Debt to Total Capital	14.08%	18.37%	22.52%	16.11%	8.30%	14.28%	18.22%	18.73%	20.86%	24.85%	26.58%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	77.04%	75.02%	72.07%	77.71%	79.54%	79.68%	80.20%	81.19%	79.06%	75.09%	73.37%
Debt to EBITDA	0.47	0.63	0.88	0.70	0.56	0.66	0.64	0.71	1.10	1.58	2.30
Net Debt to EBITDA	0.29	0.43	0.65	0.40	0.32	0.45	0.45	0.52	0.72	1.00	1.79
Long-Term Debt to EBITDA	0.29	0.46	0.71	0.51	0.23	0.47	0.59	0.71	1.09	1.58	2.30
Debt to NOPAT	0.77	1.08	1.67	1.66	1.27	1.84	1.86	2.25	7.70	125.75	-10.05
Net Debt to NOPAT	0.47	0.73	1.24	0.95	0.71	1.25	1.29	1.64	5.05	79.38	-7.81
Long-Term Debt to NOPAT	0.47	0.80	1.35	1.20	0.51	1.29	1.71	2.24	7.67	125.42	-10.03
Altman Z-Score	2.94	3.04	1.80	2.46	3.21	3.07	2.74	2.63	2.27	1.84	2.32
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.91	1.18	1.25	1.19	1.12	1.23	1.33	1.35	1.37	1.32	1.36
Quick Ratio	0.47	0.71	0.65	0.75	0.82	0.90	0.80	0.79	0.87	0.77	0.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-114	-158	-125	-52	-28	-22	9.59	-11	0.91	-1.38	-26
Operating Cash Flow to CapEx	91.92%	90.72%	115.31%	413.40%	231.15%	134.48%	160.78%	210.18%	143.58%	128.19%	-28.12%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.22	1.10	1.00	1.04	1.10	1.06	1.09	1.08	0.99	0.92	0.94
Accounts Receivable Turnover	13.21	9.72	10.31	10.98	10.05	8.01	11.16	11.03	7.82	8.07	9.97
Inventory Turnover	10.96	10.27	7.71	9.97	12.02	11.34	9.12	10.39	13.25	10.43	9.29
Fixed Asset Turnover	1.72	1.67	1.44	1.46	1.56	1.54	1.54	1.50	1.42	1.32	1.30
Accounts Payable Turnover	13.27	6.02	6.74	7.71	11.42	7.50	11.19	10.19	10.62	8.52	9.97
Days Sales Outstanding (DSO)	27.62	37.55	35.40	33.23	36.33	45.54	32.70	33.08	46.69	45.22	36.61
Days Inventory Outstanding (DIO)	33.31	35.52	47.34	36.62	30.36	32.19	40.01	35.13	27.56	35.01	39.27
Days Payable Outstanding (DPO)	27.50	60.58	54.13	47.35	31.95	48.70	32.61	35.83	34.39	42.84	36.61
Cash Conversion Cycle (CCC)	33.43	12.49	28.60	22.50	34.73	29.04	40.10	32.37	39.86	37.38	39.27
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	366	412	434	411	423	437	429	423	426	430	445
Invested Capital Turnover	1.88	1.80	1.57	1.65	1.76	1.65	1.66	1.68	1.57	1.45	1.43
Increase / (Decrease) in Invested Capital	129	184	133	65	57	24	-4.94	12	3.13	-7.04	16
Enterprise Value (EV)	815	869	456	616	910	950	724	675	594	519	817
Market Capitalization	759	793	360	558	857	885	661	614	531	444	719
Book Value per Share	$7.01	$7.58	$7.59	$6.69	$7.02	$7.01	$6.90	$6.90	$6.91	$6.58	$6.35
Tangible Book Value per Share	$7.01	$7.58	$7.59	$6.69	$7.02	$7.01	$6.90	$6.90	$6.91	$6.58	$6.35
Total Capital	401	449	468	454	465	467	457	446	459	473	474
Total Debt	92	112	131	101	95	95	90	84	96	118	126
Total Long-Term Debt	57	82	105	73	39	67	83	83	96	118	126
Net Debt	57	76	97	58	53	64	63	61	63	74	98
Capital Expenditures (CapEx)	32	24	24	17	18	19	21	18	11	20	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-15	20	27	12	34	32	19	15	13	-3.55	13
Debt-free Net Working Capital (DFNWC)	20	56	61	55	76	62	47	38	46	40	41
Net Working Capital (NWC)	-15	27	36	27	20	34	40	38	45	40	41
Net Nonoperating Expense (NNE)	0.54	0.87	0.02	-6.93	-1.25	0.56	-0.89	1.35	0.18	1.04	4.28
Net Nonoperating Obligations (NNO)	57	76	97	58	53	64	63	61	63	74	98
Total Depreciation and Amortization (D&A)	11	12	14	15	15	15	16	18	17	18	17
Debt-free, Cash-free Net Working Capital to Revenue	-2.71%	3.40%	4.72%	1.89%	4.95%	4.55%	2.71%	2.21%	1.88%	-0.57%	2.11%
Debt-free Net Working Capital to Revenue	3.59%	9.74%	10.60%	8.74%	11.00%	8.91%	6.56%	5.48%	6.84%	6.35%	6.61%
Net Working Capital to Revenue	-2.71%	4.60%	6.21%	4.27%	2.85%	4.88%	5.55%	5.43%	6.78%	6.30%	6.57%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.33	$0.57	$0.17	$0.41	$0.62	$0.24	$0.08	($0.03)	($0.18)	($0.39)	($0.41)
Adjusted Weighted Average Basic Shares Outstanding	44.45M	44.28M	52.69M	52.69M	53.09M	53.09M	52.45M	52.53M	54.00M	54.70M	55.23M
Adjusted Diluted Earnings per Share	$0.34	$0.57	$0.17	$0.40	$0.59	$0.23	$0.08	($0.03)	($0.17)	($0.39)	($0.41)
Adjusted Weighted Average Diluted Shares Outstanding	44.45M	44.69M	52.69M	52.69M	53.09M	53.09M	52.45M	52.53M	54.00M	54.70M	55.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	44.45M	44.41M	52.69M	52.69M	53.09M	53.09M	52.45M	52.53M	54.00M	54.70M	55.23M
Normalized Net Operating Profit after Tax (NOPAT)	15	26	7.57	13	29	2.59	4.65	1.12	4.04	-8.42	-9.69
Normalized NOPAT Margin	11.03%	15.71%	5.51%	6.70%	14.20%	1.50%	2.99%	0.67%	2.36%	-6.25%	-6.34%
Pre Tax Income Margin	12.92%	18.52%	7.29%	13.35%	19.17%	1.49%	4.16%	-0.11%	3.55%	-10.21%	-10.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.27%	20.63%	28.55%	34.64%	31.37%	48.37%	54.69%	86.28%	219.82%	-6,316.16%	-62.79%
Augmented Payout Ratio	17.27%	20.63%	28.55%	34.64%	31.37%	48.37%	54.69%	86.28%	219.82%	-6,316.16%	-62.79%

Key Financial Trends

Summary of Ramaco Resources (NASDAQ:METC) Financial Performance (Q2 2022 - Q2 2025)

Ramaco Resources has experienced notable fluctuations in financial results over the last few years, with revenue, net income, cash flows, and balance sheet strength showing mixed trends through the analyzed periods.

Operating revenue showed a general upward trend from $137.5 million in Q2 2022 to $153 million in Q2 2025, indicating moderate top-line growth.
Gross profit margins have been positive, with gross profit values ranging from ~$18.8M (Q2 2025) to highs of over $63M in Q4 2023, showing some variation but overall ability to generate profit from core operations.
Depreciation and amortization expenses have increased over time, reflecting substantial investment in property, plant, and equipment, suggesting ongoing capital expenditures and asset base growth.
Total assets increased to $674.6 million by Q2 2025 from $562.1 million at Q3 2022, driven by rising net plant, property & equipment net value, highlighting asset growth and investment.
Common equity grew over time, reaching $347.4 million at Q2 2025 from $298.7 million in Q4 2022, indicating an improvement in shareholder equity base.

Operating expenses including selling, general & admin expenses remain fairly consistent relative to revenues, though relatively high, pressuring operating income.
The weighted average shares outstanding increased from ~44 million in 2023 Q1 to over 55 million by Q2 2025, diluting earnings per share metrics.
Interest and other income/expense have fluctuated, sometimes negatively impacting pre-tax income. Interest expense trends suggest significant debt servicing costs.
Capital lease obligations and asset retirement obligations have steadily increased, reflecting obligations associated with operations and asset management.

Net income has declined substantially, turning negative in recent quarters with a consolidated net loss of approximately $13.97 million in Q2 2025 compared to positive net income in 2022 and 2023.
Net cash from operating activities fell sharply, going negative in Q2 2025 at -$4.26 million, signaling operational cash flow pressures.
Large capital expenditures continue, with purchases of property, plant & equipment exceeding $15 million in Q2 2025, weighing on free cash flow.
Heavy debt repayments coupled with new issuance depict a sizable debt structure and refinancing activity that might impact financial flexibility.
Net change in cash was negative $15.3 million in Q2 2025, continuing a trend of cash outflows in recent quarters.
Current liabilities and long-term debt remain substantial, totaling $327.2 million in liabilities against $347.4 million in equity at Q2 2025, reflecting leverage risks.
Earnings per share (basic and diluted) have swung from positive $0.33-$0.57 in early 2023 down to negative -$0.41 in Q2 2025, indicating earnings challenges.

Overall analysis: Ramaco Resources shows growth in revenue and asset base, driven by capital investments, but this has not translated into positive net income or cash flows in recent quarters. Rising expenses, debt servicing costs, and operational cash outflows represent challenges. The company's leverage and cash burn require monitoring, while continued investment could position it for future growth if operational efficiencies improve.

08/08/25 04:29 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Ramaco Resources' Financials

When does Ramaco Resources' financial year end?

According to the most recent income statement we have on file, Ramaco Resources' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Ramaco Resources' net income changed over the last 9 years?

Ramaco Resources' net income appears to be on an upward trend, with a most recent value of $11.19 million in 2024, rising from $0.00 in 2015. The previous period was $82.31 million in 2023.

What is Ramaco Resources' operating income?

Ramaco Resources' total operating income in 2024 was $16.64 million, based on the following breakdown:

Total Gross Profit: $133.00 million
Total Operating Expenses: $116.37 million

How has Ramaco Resources' revenue changed over the last 9 years?

Over the last 9 years, Ramaco Resources' total revenue changed from $0.00 in 2015 to $666.30 million in 2024, a change of 66,629,500,000.0%.

How much debt does Ramaco Resources have?

Ramaco Resources' total liabilities were at $311.88 million at the end of 2024, a 5.3% increase from 2023, and a 780.5% increase since 2016.

How much cash does Ramaco Resources have?

In the past 8 years, Ramaco Resources' cash and equivalents has ranged from $5.20 million in 2016 to $41.96 million in 2023, and is currently $33.01 million as of their latest financial filing in 2024.

How has Ramaco Resources' book value per share changed over the last 9 years?

Over the last 9 years, Ramaco Resources' book value per share changed from 0.00 in 2015 to 6.91 in 2024, a change of 690.7%.

Related Companies

This page (NASDAQ:METCB) was last updated on 8/8/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Ramaco Resources (METCB) Financials

Key Financial Trends

Frequently Asked Questions About Ramaco Resources' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Ramaco Resources (METCB) Financials

Annual Income Statements for Ramaco Resources

Quarterly Income Statements for Ramaco Resources

Annual Cash Flow Statements for Ramaco Resources

Quarterly Cash Flow Statements for Ramaco Resources

Annual Balance Sheets for Ramaco Resources

Quarterly Balance Sheets for Ramaco Resources

Annual Metrics And Ratios for Ramaco Resources

Quarterly Metrics And Ratios for Ramaco Resources

Key Financial Trends

Frequently Asked Questions About Ramaco Resources' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools