For the twelve months ended Sep 30, 2026, Ramaco Resources Inc. reported $544.51M of revenue and -$66.67M of net income.
METCB revenue was $150.09M in fiscal Q3 2026 (ended Sep 30, 2026), up 24.0% from a year earlier and up 3.7% from the prior quarter. For the full fiscal 2025 it was $536.62M, down 19.5% from fiscal 2024. Compound annual growth was +26.0% over 5 years. It rose in 5 of the last 9 fiscal years.
METCB net income was -$18.23M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$13.31M a year earlier. For the full fiscal 2025 it was -$51.45M, compared with $11.19M in fiscal 2024.
METCB diluted EPS was -$0.99 for fiscal 2025 (ended Dec 31, 2025).
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $536.62M | $666.29M | $693.52M | $565.69M | $283.39M | $168.91M | $168.91M | $227.57M | $61.04M | $5.22M |
| Cost of revenue | $453.39M | $533.29M | $493.79M | $332.96M | $195.41M | $145.50M | $162.47M | $176.56M | $60.52M | $1.80M |
| Gross profit | $83.23M | $133.00M | $199.73M | $232.73M | $87.98M | $23.41M | $6.45M | $51.02M | $515.0K | $3.42M |
| Selling, general and admin | $69.36M | $49.29M | $48.83M | $40.03M | $21.63M | $21.02M | $18.18M | $14.01M | $12.59M | $7.45M |
| Operating income | -$55.96M | $16.64M | $95.25M | $150.39M | $39.53M | -$19.09M | $29.53M | $24.10M | -$15.89M | -$7.53M |
| Interest expense | -$7.80M | -$6.12M | -$8.90M | - | $2.56M | $1.22M | $1.19M | $1.43M | $23.0K | $124.0K |
| Pre-tax income | -$62.14M | $14.92M | $104.66M | $146.19M | $44.41M | -$8.39M | $30.10M | $25.19M | -$15.42M | -$7.51M |
| Income tax | -$10.69M | $3.73M | $22.35M | $30.15M | $4.65M | -$3.48M | $5.16M | $113.0K | $0 | $0 |
| Net income | -$51.45M | $11.19M | $82.31M | $116.04M | $39.76M | -$4.91M | $24.93M | $25.07M | -$15.42M | -$7.51M |
| EPS, basic | -$0.99 | $0.11 | $1.77 | $2.63 | $0.90 | -$0.12 | $0.61 | $0.63 | -$0.41 | - |
| EPS, diluted | -$0.99 | $0.11 | $1.73 | $2.60 | $0.90 | -$0.12 | $0.61 | $0.62 | -$0.41 | - |
| Diluted shares | - | - | - | 44.7M | 44.3M | 42.5M | 40.8M | 40.3M | 37.6M | - |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $440.35M | $33.82M | $42.78M | $36.47M | $22.81M | $6.71M | $6.87M | $7.38M | $6.22M | $5.20M |
| Short-term investments | - | - | - | - | - | - | - | - | $5.20M | $55.24M |
| Receivables | $54.35M | $73.58M | $96.87M | $41.17M | $44.45M | $20.30M | $19.26M | $10.73M | $7.17M | $914.7K |
| Inventory | $87.16M | $43.36M | $37.16M | $44.97M | $15.79M | $11.95M | $15.26M | $14.19M | $10.06M | $1.52M |
| Current assets | $597.61M | $167.63M | $189.74M | $147.49M | $86.76M | $42.50M | $44.32M | $35.02M | $29.46M | $63.26M |
| Total assets | $1.14B | $674.69M | $665.84M | $596.34M | $329.03M | $228.62M | $226.81M | $188.24M | $148.10M | $119.21M |
| Current liabilities | $109.50M | $122.43M | $169.99M | $162.84M | $46.66M | $29.11M | $26.41M | $29.84M | $22.43M | $15.36M |
| Short-term debt | $56.0K | $359.0K | $56.53M | $35.64M | $7.67M | $4.87M | $3.33M | $5.00M | - | - |
| Long-term debt | - | $57.0K | $349.0K | $18.76M | $3.34M | $12.58M | $9.61M | $4.47M | - | - |
| Total debt | $467.56M | $416.0K | $56.88M | $54.40M | $11.01M | $17.45M | $12.95M | $9.47M | - | - |
| Total liabilities | $657.00M | $311.88M | $296.23M | $287.14M | $117.96M | $59.53M | $56.73M | $47.13M | $34.70M | $35.42M |
| Shareholders' equity | $483.57M | $362.81M | $369.61M | $309.20M | $211.07M | $169.09M | $170.08M | $141.11M | $113.40M | -$4.99M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.97M | $112.67M | $161.04M | $187.87M | $53.34M | $13.31M | $42.38M | $36.18M | -$8.47M | -$3.86M |
| Capital expenditures | - | - | $82.90M | $123.01M | $29.47M | $24.75M | $45.72M | $48.14M | $75.04M | $16.72M |
| Free cash flow | - | - | $78.13M | $64.86M | $23.87M | -$11.44M | -$3.34M | -$11.95M | -$83.51M | -$20.58M |
| Investing cash flow | -$83.67M | -$70.83M | -$72.21M | -$145.71M | -$59.61M | -$24.75M | -$45.72M | -$42.94M | -$19.80M | -$77.46M |
| Financing cash flow | $489.04M | -$50.79M | -$82.52M | -$28.50M | $22.37M | $11.29M | $2.83M | $7.92M | $29.29M | $85.53M |
| Dividends paid | $4.34M | $24.60M | $25.82M | $20.04M | $20.00M | - | - | - | - | - |
| Stock-based compensation | $17.57M | $17.47M | $12.90M | $8.22M | $5.26M | $4.14M | $4.06M | $2.64M | $2.82M | $299.0K |
| Depreciation and amortization | $68.16M | $65.61M | $54.25M | $41.19M | $26.20M | $20.91M | $19.52M | $12.42M | $3.15M | $252.0K |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -19.5% | -3.9% | 22.6% | 99.6% | 67.8% | 0.0% | -25.8% | 272.9% | 1070.2% | - |
| Net income growth, YoY | - | -86.4% | -29.1% | 191.9% | - | - | -0.6% | - | - | - |
| EPS growth, YoY | - | - | -33.5% | 188.9% | - | - | -1.6% | - | - | - |
| Gross margin | 15.5% | 20.0% | 28.8% | 41.1% | 31.0% | 13.9% | 3.8% | 22.4% | 0.8% | 65.6% |
| Operating margin | -10.4% | 2.5% | 13.7% | 26.6% | 13.9% | -11.3% | 17.5% | 10.6% | -26.0% | -144.4% |
| Net margin | -9.6% | 1.7% | 11.9% | 20.5% | 14.0% | -2.9% | 14.8% | 11.0% | -25.3% | -144.1% |
| Free cash flow margin | - | - | 11.3% | 11.5% | 8.4% | -6.8% | -2.0% | -5.3% | -136.8% | -394.6% |
| Return on equity | -10.6% | 3.1% | 22.3% | 37.5% | 18.8% | -2.9% | 14.7% | 17.8% | -13.6% | - |
| Return on assets | -4.5% | 1.7% | 12.4% | 19.5% | 12.1% | -2.1% | 11.0% | 13.3% | -10.4% | -6.3% |
| Current ratio | 5.46 | 1.37 | 1.12 | 0.91 | 1.86 | 1.46 | 1.68 | 1.17 | 1.31 | 4.12 |
| Debt to equity | 0.97 | 0.00 | 0.15 | 0.18 | 0.05 | 0.10 | 0.08 | 0.07 | - | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $150.09M | $144.80M | $121.61M | $128.01M | $121.00M | $152.96M | $134.66M | $170.89M | $167.41M | $155.31M | $172.68M | $202.73M |
| Cost of revenue | $133.80M | $128.18M | $108.51M | $107.06M | $101.84M | $134.18M | $114.13M | $136.08M | $134.73M | $122.77M | $139.71M | $139.41M |
| Gross profit | $16.29M | $16.62M | $13.10M | $20.94M | $19.15M | $18.78M | $20.52M | $34.81M | $32.68M | $32.55M | $32.96M | $63.32M |
| Selling, general and admin | $19.28M | $17.58M | $20.29M | $19.61M | $16.14M | $15.18M | $14.60M | $11.35M | $12.92M | $10.90M | $14.11M | $11.31M |
| Operating income | -$21.11M | -$18.25M | -$24.30M | -$15.61M | -$14.48M | -$13.84M | -$12.02M | $6.35M | $1.59M | $5.42M | $3.27M | $37.25M |
| Interest expense | $1.39M | -$1.52M | -$334.0K | -$15.10M | $2.25M | -$2.82M | -$2.23M | -$10.63M | $1.70M | - | - | - |
| Pre-tax income | -$23.42M | -$19.58M | -$24.15M | -$15.78M | -$16.61M | -$16.00M | -$13.75M | $6.07M | -$178.0K | $6.46M | $2.57M | $38.87M |
| Income tax | -$5.18M | -$4.16M | -$5.83M | -$1.08M | -$3.30M | -$2.03M | -$4.29M | $2.21M | $61.0K | $915.0K | $540.0K | $8.83M |
| Net income | -$18.23M | -$15.41M | -$18.32M | -$14.71M | -$13.31M | -$13.97M | -$9.46M | $3.86M | -$239.0K | $5.54M | $2.03M | $30.04M |
| EPS, basic | - | - | - | - | - | - | - | - | -$0.03 | $0.08 | $0.00 | - |
| EPS, diluted | - | - | - | - | - | - | - | - | -$0.03 | $0.08 | $0.00 | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $232.95M | $282.54M | $355.20M | $440.35M | $194.66M | $28.94M | $44.28M | $33.82M | $23.68M | $28.39M | $31.32M | $42.78M |
| Receivables | $77.00M | $60.75M | $66.33M | $54.35M | $43.61M | $55.94M | $52.12M | $73.58M | $62.91M | $69.61M | $103.54M | $96.87M |
| Inventory | $94.34M | $100.37M | $105.55M | $87.16M | $81.57M | $59.31M | $56.12M | $43.36M | $53.05M | $52.40M | $41.28M | $37.16M |
| Current assets | $424.16M | $460.64M | $542.70M | $597.61M | $328.73M | $154.91M | $163.97M | $167.63M | $146.67M | $160.63M | $182.61M | $189.74M |
| Total assets | $1.01B | $1.02B | $1.09B | $1.14B | $849.65M | $674.65M | $685.74M | $674.69M | $645.39M | $659.23M | $674.01M | $665.84M |
| Current liabilities | $107.36M | $108.84M | $111.24M | $109.50M | $110.57M | $113.79M | $124.36M | $122.43M | $108.79M | $120.78M | $148.47M | $169.99M |
| Short-term debt | - | - | $6.0K | $56.0K | $140.0K | $223.0K | $307.0K | $359.0K | $383.0K | $7.20M | $28.23M | $56.53M |
| Long-term debt | - | - | - | - | - | - | - | $57.0K | $43.14M | $42.16M | $24.74M | $349.0K |
| Total debt | - | - | - | $467.56M | $116.32M | - | - | $416.0K | $43.52M | $49.35M | $52.97M | $56.88M |
| Total liabilities | $643.06M | $648.61M | $654.58M | $657.00M | $322.74M | $327.21M | $330.49M | $311.88M | $283.57M | $293.10M | $301.74M | $296.23M |
| Shareholders' equity | $362.98M | $376.07M | $437.00M | $483.57M | $526.91M | $347.44M | $355.25M | $362.81M | $361.82M | $366.13M | $372.27M | $369.61M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$11.97M | $12.17M | -$34.60M | -$18.37M | -$1.44M | -$4.26M | $26.04M | $15.68M | $37.38M | $34.41M | $25.19M | $41.56M |
| Capital expenditures | - | - | - | - | - | - | - | - | - | - | $18.73M | $17.98M |
| Free cash flow | - | - | - | - | - | - | - | - | - | - | $6.46M | $23.58M |
| Investing cash flow | -$35.73M | -$27.36M | -$17.02M | -$27.52M | -$19.79M | -$14.10M | -$22.26M | -$12.73M | -$18.12M | -$21.32M | -$18.66M | -$14.45M |
| Financing cash flow | -$1.88M | -$57.48M | -$33.52M | $292.40M | $186.94M | $3.02M | $6.67M | $7.19M | -$23.97M | -$16.03M | -$17.98M | -$28.12M |
| Dividends paid | - | - | - | $0 | $0 | $1.86M | $2.48M | $128.0K | $7.97M | $8.18M | $8.32M | $7.77M |
| Share repurchases | $0 | $54.01M | $11.93M | - | - | - | - | - | - | - | - | - |
| Stock-based compensation | $5.06M | $4.97M | $4.91M | $4.72M | $4.73M | $4.75M | $3.36M | $4.21M | $3.97M | $4.58M | $4.70M | $3.20M |
| Depreciation and amortization | $17.63M | $16.81M | $16.61M | $16.48M | $17.09M | $17.04M | $17.54M | $16.71M | $17.81M | $15.88M | $15.22M | $14.40M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 24.0% | -5.3% | -9.7% | -25.1% | -27.7% | -1.5% | -22.0% | -15.7% | -10.5% | 13.0% | 3.8% | 49.9% |
| Net income growth, YoY | - | - | - | - | - | - | - | -87.2% | - | -26.7% | -92.0% | 108.8% |
| Gross margin | 10.9% | 11.5% | 10.8% | 16.4% | 15.8% | 12.3% | 15.2% | 20.4% | 19.5% | 21.0% | 19.1% | 31.2% |
| Operating margin | -14.1% | -12.6% | -20.0% | -12.2% | -12.0% | -9.1% | -8.9% | 3.7% | 1.0% | 3.5% | 1.9% | 18.4% |
| Net margin | -12.1% | -10.6% | -15.1% | -11.5% | -11.0% | -9.1% | -7.0% | 2.3% | -0.1% | 3.6% | 1.2% | 14.8% |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - | 3.7% | 11.6% |
| Current ratio | 3.95 | 4.23 | 4.88 | 5.46 | 2.97 | 1.36 | 1.32 | 1.37 | 1.35 | 1.33 | 1.23 | 1.12 |
| Debt to equity | - | - | - | 0.97 | 0.22 | - | - | 0.00 | 0.12 | 0.13 | 0.14 | 0.15 |
Source: XBRL data Ramaco Resources Inc. files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| METCB | $544.51M | -6.0% | -$66.67M | -12.2% | $397.1M |
| BHP | $58.76B | +14.6% | $9.83B | 16.7% | $203.10B |
| HCC | $1.86B | +52.0% | $232.04M | 12.5% | $4.44B |
| CNR | $4.41B | +19.4% | $77.53M | 1.8% | $3.94B |
| ARLP | $2.21B | -1.9% | $314.56M | 14.3% | $3.14B |
| BTU | $4.10B | +3.4% | -$145.40M | -3.6% | $1.95B |
| AMR | $2.10B | -5.7% | -$49.85M | -2.4% | $1.88B |
| NRP | - | - | $102.33M | - | $1.56B |
| METC | $544.51M | -6.0% | -$66.67M | -12.2% | $397.1M |