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Ramaco Resources USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Coal

Geography: USA (Appalachia, Central Appalachia)

COMM_METC

Price chart

15.26 USDDay 2.62%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
15.26 USD · 2.62%
Market cap
793 mln USD

Growth

Δ revenue y/y
-9.7%
Δ EBITDA y/y
-239.3%

Multiples

P/E (LTM)
—
P/B (FY)
1.6x
P/E (ann.)
<0
EV/EBITDA (LTM)
—
EV/EBITDA (ann.)
<0

Cash return

Dividend yield
—
FCF yield (LTM)
-37.3%

Value creation

to fair market cap at the current EV/EBITDA
Upside (potential)
-67.7%
↓ details

Liquidity

Daily turnover
—

Shares: yahoo_fundamentals_timeseries/METC

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 2 / Warn: 7 / Err: 6 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1⚠Warn 1
2023-06-30 Q2⚠Warn 1
2023-09-30 Q3⚠Warn 1
2023-12-31 FY✗Errors 1Warn 1
2023-12-31 Q4✓OK
2024-03-31 Q1⚠Warn 1
2024-06-30 Q2⚠Warn 1
2024-09-30 Q3⚠Warn 2
2024-12-31 FY✗Errors 3Warn 1
2024-12-31 Q4✓OK
2025-03-31 Q1✗Errors 4Warn 1
2025-06-30 Q2✗Errors 1Warn 2
2025-09-30 Q3✗Errors 1Warn 3
2025-12-31 FY⚠Warn 4
2026-03-31 Q1✗Errors 4Warn 2
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK121.6
y/y -9.7%
-24.3
y/y —
16.6
y/y -5.3%
-7.7
y/y -239.3%
-18.3
y/y —
-34.6-17.01091.6
y/y 59.2%
437.0
y/y 23.0%
-15.9%104.5Link
2025-12-31Q4 2025 (3M)OK128.0
y/y -25.1%
-15.6
y/y -345.7%
16.5
y/y -1.3%
0.9
y/y -96.2%
-14.7
y/y -481.2%
-18.4-27.51140.6
y/y 69.1%
483.6
y/y 33.3%
-10.2%34.9Link
2025-09-30Q3 2025 (3M)OK121.0
y/y -27.7%
-14.5
y/y -1008.5%
17.1
y/y -4.0%
2.6
y/y -86.6%
-13.3
y/y —
-1.4-19.8849.7
y/y 31.6%
526.9
y/y 45.6%
-4.1%-68.4Link
2025-06-30Q2 2025 (3M)OK153.0
y/y -1.5%
-13.8
y/y -355.7%
17.0
y/y 7.3%
3.2
y/y -85.0%
-14.0
y/y -352.2%
-4.3-14.1674.6
y/y 2.3%
347.4
y/y -5.1%
-15.9%5.3Link
2025-03-31Q1 2025 (3M)OK134.7
y/y -22.0%
-12.0
y/y -467.1%
17.5
y/y 15.3%
5.5
y/y -70.2%
-9.5
y/y -565.4%
26.0-22.3685.7
y/y 1.7%
355.2
y/y -4.6%
-10.5%-19.9Link
2024-12-31Q4 2024 (3M)OK170.9
y/y -15.7%
6.4
y/y -82.9%
16.7
y/y 16.0%
23.1
y/y -55.4%
3.9
y/y -87.2%
15.7-12.7674.7
y/y 1.3%
362.8
y/y -1.8%
3.1%-26.1Link
2024-09-30Q3 2024 (3M)OK167.4
y/y -10.5%
1.6
y/y -90.1%
17.8
y/y 23.3%
19.4
y/y -36.4%
-0.2
y/y -101.2%
37.4-18.1645.4
y/y -0.2%
361.8
y/y 2.6%
-0.1%26.8Link
2024-06-30Q2 2024 (3M)OK155.3
y/y 13.0%
5.4
y/y -46.1%
15.9
y/y 17.1%
21.3
y/y -9.8%
5.5
y/y -26.7%
34.4-21.3659.2
y/y -0.2%
366.1
y/y 8.6%
6.0%28.9Link
2024-03-31Q1 2024 (3M)OK172.7
y/y 3.8%
3.3
y/y -89.7%
15.2
y/y 28.4%
18.5
y/y -57.7%
2.0
y/y -92.0%
25.2-18.7674.0
y/y 5.1%
372.3
y/y 10.5%
2.2%31.0Link
2023-12-31Q4 2023 (3M)OK202.7
y/y —
37.3
y/y —
14.4
y/y —
51.7
y/y —
30.0
y/y —
41.6-18.0665.8
y/y —
369.6
y/y —
22.8%20.5Link
2023-09-30Q3 2023 (3M)OK187.0
y/y —
16.1
y/y —
14.4
y/y —
30.5
y/y —
19.5
y/y —
69.9-16.9646.7
y/y —
352.6
y/y —
7.5%25.6Link
2023-06-30Q2 2023 (3M)OK137.5
y/y —
10.0
y/y —
13.6
y/y —
23.6
y/y —
7.6
y/y —
28.2-24.5660.4
y/y —
337.1
y/y —
9.0%62.8Link
2023-03-31Q1 2023 (3M)OK166.4
y/y —
31.9
y/y —
11.9
y/y —
43.7
y/y —
25.3
y/y —
21.4-23.5641.3
y/y —
336.9
y/y —
—44.7Link
Data quality — review suggested

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Coking Coal

Proved reserves
58.93 mln tons
2023
Reserve life (R/P)
17.1 yrs
reserves ÷ annual output
Annual production
3.46 mln tons
2023

Production, mln tons

2.2920212.4520223.462023

Proved reserves

YearReserves, mln tons
202358.93
202261.95
202139.16

Production

YearProduction, mln tonsper day
20233.46
+41.0%		9 466
20222.45
+7.2%		6 712
20212.296 263

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-500501001502002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-300%-200%-100%0%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-80-60-40-200202023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-100-500501002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — Coking coal (Australia)

Current 249spot vs LTM +23%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -67.7%

Main driver: Coking coal (Australia) +23% vs LTM; revenue ×1.23 vs costs ×1.04; EBITDA -1→87; at 4.2× EV/EBITDA → -68%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Coking coal (Australia) (rev)+100%249.00202.20239.59+23%+18%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue524
LTM EBITDA-1
LTM cash costs (revenue − EBITDA)525
2 · Revenue projection
Revenue multiplier — spot×1.231 (+23%)
= Spot revenue645
Revenue multiplier — 3y price×1.185 (+18%)
= 3-year-price revenue620
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs546
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs546
4 · EBITDA projection (revenue − costs)
= Spot EBITDA99
= 3-year-price EBITDA75
Conservative EBITDA = min(spot, avg)87
5 · Valuation → target market cap
Historical EV/projected-EBITDA (3-yr average)4.2x
Target EV = EV/EBITDA × conservative EBITDA361
Net debt104
Target market cap = EV − net debt257
Current market cap794

Upside = target market cap ÷ current − 1 = -67.7%

Life of mine: 17 yrs

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q2137108+27.0%245+387.5%
2023 Q3187132+41.1%3122+39.1%
2023 Q4203182+11.5%5254-4.1%
2024 Q1173180-4.1%1841-54.5%
2024 Q2155155+0.2%218+181.3%
2024 Q3167123+36.2%19-30—
2024 Q4171131+31.0%23-20—
2025 Q1135129+4.6%6-21—
2025 Q2153138+11.2%3-6—
2025 Q3121153-20.7%35-50.5%
2025 Q4128151-15.4%112-92.4%
2026 Q1122162-24.8%-827-128.1%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 6.7x · target 3-yr avg 4.2x · LTM avg 12.6x

EV/EBITDA (LTM)EV/EBITDA (projected)target avg (projected, 3y)

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)