(METC) Ramaco Resources - NASDAQ
Sector: Basic Materials | Industry: Coking Coal | Exchange: NASDAQ (USA) | Market Cap: 991m USD | Total Return: 39% in 12m
Avg Turnover: 22.4M
Qual. Beats: 0
Rev. Trend: -32.5%
Qual. Beats: 0
Warnings
High Debt/EBITDA (37.2) with thin interest coverage (-11.1)
High Debt while negative Cash Flow
Interest Coverage Ratio -11.1 is critical
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Tailwinds
No distinct edge detected
Ramaco Resources, Inc. (METC) is an American materials company focused on the development and operation of metallurgical coal properties. Its primary assets include the Elk Creek, Berwind, Knox Creek, and Maben projects in the Central Appalachian region, alongside the Brook Mine in Wyoming. The company supplies essential raw materials to blast furnace steel mills and coke plants across North American and international markets.
Unlike thermal coal used for power generation, metallurgical coal is a critical input in the integrated steelmaking process, where it is converted into coke to smelt iron ore. Ramaco operates under a low-cost infrastructure model, utilizing existing preparation plants and logistics networks to manage capital expenditures. Investors can evaluate the company’s long-term asset valuation and cost structures on ValueRay.
Founded in 2015 and headquartered in Lexington, Kentucky, Ramaco Resources has expanded its footprint to encompass over 200,000 acres of mineral property. The company’s strategic focus remains on high-quality carbon products required for global infrastructure development and industrial steel production.
- Global metallurgical coal prices drive revenue and operating margins
- Production volume growth from Elk Creek and Berwind mine expansions
- Rare earth element discovery at Brook Mine creates valuation upside
- Steel demand cycles in North American and international export markets
| Net Income: -60.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.13 > 0.02 and ΔFCF/TA -19.15 > 1.0 |
| NWC/Revenue: 82.41% < 20% (prev 6.30%; Δ 76.10% < -1%) |
| CFO/TA -0.05 > 3% & CFO -59.9m > Net Income -60.3m |
| Net Debt (121.3m) to EBITDA (3.26m): 37.20 < 3 |
| Current Ratio: 4.88 > 1.5 & < 3 |
| Outstanding Shares: last quarter (49.8m) vs 12m ago 0.0% < -2% |
| Gross Margin: 1.30% > 18% (prev 8.14%; Δ -6.84% > 0.5%) |
| Asset Turnover: 58.92% > 50% (prev 91.62%; Δ -32.70% > 0%) |
| Interest Coverage Ratio: -11.13 > 6 (EBIT TTM -65.7m / Interest Expense TTM 5.91m) |
| A: 0.40 (Total Current Assets 542.7m - Total Current Liabilities 111.2m) / Total Assets 1.09b |
| B: -0.02 (Retained Earnings -18.6m / Total Assets 1.09b) |
| C: -0.07 (EBIT TTM -65.7m / Avg Total Assets 888.7m) |
| D: 0.67 (Book Value of Equity 437.0m / Total Liabilities 654.6m) |
| Altman-Z'' = 2.74 = A |
| DSRI: 1.53 (Receivables 66.3m/52.1m, Revenue 523.6m/628.3m) |
| GMI: 6.26 (GM 8.14% / 1.30%) |
| AQI: 0.74 (AQ_t 0.02 / AQ_t-1 0.02) |
| SGI: 0.83 (Revenue 523.6m / 628.3m) |
| TATA: -0.00 (NI -60.3m - CFO -59.9m) / TA 1.09b) |
| Beneish M = 1.90 (Cap -4..+1) = D |
As of June 14, 2026, the stock is trading at USD 15.26 with a total of 932,720 shares traded.
Over the past week, the price has changed by -2.49%,
over one month by -0.33%,
over three months by +4.52% and
over the past year by +38.98%.
Ramaco Resources has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy METC.
- StrongBuy: 3
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 27.3 | 78.6% |
P/E Forward = 5.4915
P/S = 1.8933
P/B = 2.2177
Revenue TTM = 523.6m USD
EBIT TTM = -65.7m USD
EBITDA TTM = 3.26m USD
Long Term Debt = 452.1m USD (from longTermDebt, last quarter)
Short Term Debt = 7.63m USD (from shortTermDebt, last quarter)
Debt = 476.5m USD (corrected: LT Debt 452.1m + ST Debt 7.63m) + Leases 16.8m
Net Debt = 121.3m USD (calculated: Debt 476.5m - CCE 355.2m)
Enterprise Value = 1.11b USD (991.3m + Debt 476.5m - CCE 355.2m)
Interest Coverage Ratio = -11.13 (Ebit TTM -65.7m / Interest Expense TTM 5.91m)
EV/FCF = -7.92x (Enterprise Value 1.11b / FCF TTM -140.4m)
FCF Yield = -12.62% (FCF TTM -140.4m / Enterprise Value 1.11b)
FCF Margin = -26.82% (FCF TTM -140.4m / Revenue TTM 523.6m)
Net Margin = -11.52% (Net Income TTM -60.3m / Revenue TTM 523.6m)
Gross Margin = 1.30% ((Revenue TTM 523.6m - Cost of Revenue TTM 516.8m) / Revenue TTM)
Gross Margin QoQ = -3.31% (prev 6.12%)
Tobins Q-Ratio = 1.02 (Enterprise Value 1.11b / Total Assets 1.09b)
Interest Expense / Debt = 1.24% (Interest Expense 5.91m / Debt 476.5m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -51.9m (EBIT -65.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.88 (Total Current Assets 542.7m / Total Current Liabilities 111.2m)
Debt / Equity = 1.09 (Debt 476.5m / totalStockholderEquity, last quarter 437.0m)
Debt / EBITDA = 37.20 (Net Debt 121.3m / EBITDA 3.26m)
Debt / FCF = -0.86 (negative FCF - burning cash) (Net Debt 121.3m / FCF TTM -140.4m)
Total Stockholder Equity = 448.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -6.79% (Net Income -60.3m / Total Assets 1.09b)
RoE = -13.44% (Net Income TTM -60.3m / Total Stockholder Equity 448.7m)
RoCE = -7.30% (EBIT -65.7m / Capital Employed (Equity 448.7m + L.T.Debt 452.1m))
RoIC = -5.40% (negative operating profit) (NOPAT -51.9m / Invested Capital 961.8m)
WACC = 8.28% (E(991.3m)/V(1.47b) * Re(11.79%) + D(476.5m)/V(1.47b) * Rd(1.24%) * (1-Tc(0.21)))
Discount Rate = 11.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -52.92 | Cagr: -2.60%
[DCF] Fair Price = unknown (Cash Flow -140.4m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.44 | # QB: 0
Revenue Correlation: -32.45 | Revenue CAGR: -4.15% | SUE: -0.77 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.24 | Chg30d=-126.42% | Revisions=-50% | Analysts=6
EPS next Quarter (2026-09-30): EPS=-0.12 | Chg30d=-32.98% | Revisions=-25% | Analysts=6
EPS current Year (2026-12-31): EPS=-0.74 | Chg30d=-62.25% | Revisions=-56% | GrowthEPS=+25.5% | GrowthRev=+11.7%
EPS next Year (2027-12-31): EPS=0.18 | Chg30d=-54.82% | Revisions=-11% | GrowthEPS=+124.1% | GrowthRev=+20.4%
[Analyst] Revisions Ratio: -56%