Ramaco Resources (METCB) Financials

$16.33 -0.21 (-1.27%)

Closing price 04:00 PM Eastern

Extended Trading

$16.01 -0.32 (-1.97%)

As of 04:51 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

Ramaco Resources (NASDAQ: METC) has shown notable fluctuations in its financial performance and position over the past four years up to Q2 2025. Here are the key points, considering the latest four years of quarterly data:

Operating revenue has generally increased from about $136.9 million in Q3 2022 to around $153 million in Q2 2025, demonstrating top-line growth.
Gross profit remains positive each quarter, with a peak of over $63 million in Q4 2023, indicating ongoing profitability at the operational level despite rising costs.
Depreciation expenses have remained steady around $11 million to $17 million per quarter, reflecting consistent capital asset use and investment.
Ramaco has maintained significant investment in property, plant, and equipment, with net PPE values over $440 million consistently and purchases of PP&E averaging $15 million to $32 million quarterly.
Cash and equivalents levels remain substantial, hovering mostly between $22 million to $44 million, providing liquidity, although recent Q2 2025 showed a decline to $28.1 million.
The company consistently reports negative net income in the latest quarters (e.g., a loss of $13.97 million in Q2 2025), contrasting with earlier positive periods especially in 2022 and 2023.
Interest and investment income expenses have increased to around -$2.8 million in Q2 2025 indicating higher financing costs, which weigh on profitability.
Total liabilities have increased to over $327 million as of Q2 2025, reflecting perhaps increased debt levels, but equity remains strong at about $347 million.
Net cash from operating activities turned negative in recent quarters, with Q2 2025 showing an outflow of $4.26 million compared to positive cash inflows in prior periods, signaling challenges in core operations.
The company continues to have significant repayments of debt (e.g., $23.1 million in Q2 2025), along with large dividend payments, which may affect its cash flow flexibility.

Summary: Ramaco Resources has demonstrated solid revenue growth and maintains strong asset levels, especially in property and plant investments. However, profitability has declined recently with consecutive net losses and negative operating cash flow in early 2025. Increased interest expenses and debt repayments pose challenges to cash flow management. Investors should monitor the company's ability to return to consistent profitability and positive operating cash flow while sustaining its capital investments and liquidity position.

08/28/25 11:41 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Ramaco Resources' Financials

When does Ramaco Resources' fiscal year end?

According to the most recent income statement we have on file, Ramaco Resources' financial year ends in December. Their financial 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%.

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This page (NASDAQ:METCB) was last updated on 8/28/2025 by MarketBeat.com Staff

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Ramaco Resources (METCB) Financials

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Ramaco Resources (METCB) Financials

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