HCC

MKT CAP:$5B

Warrior Met Coal, Inc.

Market Cap

$5B

Energy·Coal·🇺🇸 United States·NYSE

Energy·Coal·🇺🇸·NYSE

Stock Price

$86.37-$3.18 (-3.55%)

Apr 17, 2026

Company Details

Warrior Met Coal, Inc. produces and exports non-thermal metallurgical coal for the steel industry. It operates two underground mines located in Alabama. The company sells its metallurgical coal to a customer base of blast furnace steel prod...

CEO

Walter J. Scheller

IPO Date

Apr 13, 2017

Website

warriormetcoal.com

Key Metrics TTM

Revenue

$1.3B

-14.2% YoY

Net Income

$57M

EPS (Diluted)

$1.09

Free Cash Flow

-$111M

Revenue / Share

$24.86

Gross Margin

55.7%

Operating Margin

3.4%

Net Margin

4.4%

FCF Margin

-8.5%

P/S

3.5x

P/E

79.8x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Feb 12, 2026

$1.3B-14.1%EPS $1.08

Q4 2025

Feb 12, 2026

$384M+29.1%EPS $0.44

Q3 2025

Nov 5, 2025

$328M+0.0%EPS $0.70

Q2 2025

Aug 6, 2025

$298M-25.0%EPS $0.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$379M	$210M	$187M
Q2 22	$625M	$393M	$373M
Q3 22	$390M	$148M	$124M
Q4 22	$345M	$135M	$118M
Q1 23	$510M	$228M	$210M
Q2 23	$380M	$107M	$90M
Q3 23	$423M	$119M	$108M
Q4 23	$364M	$147M	$134M
Q1 24	$504M	$168M	$149M
Q2 24	$397M	$86M	$71M
Q3 24	$328M	$51M	$39M
Q4 24	$297M	$14M	-$4M
Q1 25	$300M	$292M	-$17M
Q2 25	$298M	$20M	$8M
Q3 25	$328M	$37M	$20M
Q4 25	$384M	$380M	$35M

Valuation

Quarter	P/S	P/E
Q1 22	1.6x	6.1x
Q2 22	1.1x	2.7x
Q3 22	0.9x	2.3x
Q4 22	1.0x	2.7x
Q1 23	1.0x	2.9x
Q2 23	1.3x	4.5x
Q3 23	1.6x	5.8x
Q4 23	2.0x	6.9x
Q1 24	1.9x	7.3x
Q2 24	2.3x	9.1x
Q3 24	2.1x	8.8x
Q4 24	1.9x	11.4x
Q1 25	1.9x	23.7x
Q2 25	2.0x	59.6x
Q3 25	2.7x	94.7x
Q4 25	3.6x	82.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$70M	$60M
Q2 22	$330M	$258M
Q3 22	$247M	$206M
Q4 22	$195M	$110M
Q1 23	$193M	$125M
Q2 23	$125M	-$12M
Q3 23	$139M	$32M
Q4 23	$245M	$64M
Q1 24	$104M	$4M
Q2 24	$147M	$36M
Q3 24	$62M	-$54M
Q4 24	$54M	-$76M
Q1 25	$11M	-$68M
Q2 25	$38M	-$37M
Q3 25	$105M	$13M
Q4 25	$76M	-$18M

Capital Expenditures

Quarter	CapEx
Q1 22	$11M
Q2 22	$72M
Q3 22	$41M
Q4 22	$85M
Q1 23	$68M
Q2 23	$136M
Q3 23	$107M
Q4 23	$181M
Q1 24	$100M
Q2 24	$111M
Q3 24	$116M
Q4 24	$131M
Q1 25	$79M
Q2 25	$75M
Q3 25	$92M
Q4 25	$94M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+77.1%	-5.4%
Q2 22	+174.9%	+9.7%
Q3 22	+92.7%	+75.7%
Q4 22	-17.0%	-1.8%
Q1 23	+34.6%	+56.4%
Q2 23	-39.3%	+14.5%
Q3 23	+8.5%	+18.8%
Q4 23	+5.5%	+1.4%
Q1 24	-1.2%	+18.1%
Q2 24	+4.4%	+12.6%
Q3 24	-22.6%	-8.6%
Q4 24	-18.2%	+31.0%
Q1 25	-40.4%	-10.5%
Q2 25	-25.0%	-11.0%
Q3 25	+0.0%	+6.7%
Q4 25	+29.1%	+15.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$7M	1.9%
Q2 22	$4M	0.7%
Q3 22	$3M	0.7%
Q4 22	$3M	1.0%
Q1 23	$8M	1.5%
Q2 23	$5M	1.2%
Q3 23	$2M	0.5%
Q4 23	$4M	1.0%
Q1 24	$9M	1.8%
Q2 24	$5M	1.3%
Q3 24	$874.0K	0.3%
Q4 24	$7M	2.4%
Q1 25	$0	0.0%
Q2 25	$10M	3.4%
Q3 25	$5M	1.6%
Q4 25	$5M	1.2%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 22	$14M	—	—
Q2 22	$12M	—	—
Q3 22	$11M	—	—
Q4 22	—	—	$12M
Q1 23	$15M	—	—
Q2 23	—	—	$13M
Q3 23	—	—	$11M
Q4 23	—	—	$13M
Q1 24	$19M	$201.0K	—
Q2 24	—	—	$15M
Q3 24	—	—	$11M
Q4 24	—	—	$18M
Q1 25	—	—	$18M
Q2 25	—	—	$12M
Q3 25	—	—	$17M
Q4 25	—	—	$18M

Revenue Segments

Quarter	Product	Product and Service, Other
Q1 22	$382M	-$4M
Q2 22	$623M	$2M
Q3 22	$372M	$18M
Q4 22	$330M	$15M
Q1 23	$500M	$9M
Q2 23	$371M	$9M
Q3 23	$417M	$7M
Q4 23	$360M	$4M
Q1 24	$498M	$6M
Q2 24	$390M	$6M
Q3 24	$320M	$8M
Q4 24	$292M	$6M
Q1 25	$295M	$5M
Q2 25	$288M	$9M
Q3 25	$320M	$9M
Q4 25	$374M	$10M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$434M	$9M	$443M
Q2 22	$645M	$9M	$653M
Q3 22	$746M	$9M	$754M
Q4 22	$829M	$9M	$838M
Q1 23	$863M	$9M	$871M
Q2 23	$827M	$9M	$836M
Q3 23	$687M	$9M	$696M
Q4 23	$738M	$9M	$747M
Q1 24	$694M	$9M	$703M
Q2 24	$709M	$9M	$718M
Q3 24	$583M	$9M	$593M
Q4 24	$492M	$15M	$506M
Q1 25	$455M	$33M	$488M
Q2 25	$383M	$48M	$431M
Q3 25	$336M	$56M	$393M
Q4 25	$300M	$53M	$353M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	52M	+0.1%	+0.7%
Q2 22	52M	+0.2%	+0.6%
Q3 22	52M	+0.0%	+0.3%
Q4 22	52M	+0.0%	+0.3%
Q1 23	52M	+0.4%	+0.6%
Q2 23	52M	+0.2%	+0.7%
Q3 23	52M	+0.1%	+0.7%
Q4 23	52M	+0.0%	+0.7%
Q1 24	52M	+0.2%	+0.5%
Q2 24	52M	+0.3%	+0.6%
Q3 24	52M	+0.0%	+0.5%
Q4 24	52M	+0.0%	+0.5%
Q1 25	52M	+0.1%	+0.5%
Q2 25	53M	+0.3%	+0.5%
Q3 25	53M	+0.1%	+0.5%
Q4 25	53M	+0.0%	+0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$537.9K	704
Q2 22	$888.0K	704
Q3 22	$554.2K	704
Q4 22	$403.7K	854
Q1 23	$596.8K	854
Q2 23	$444.6K	854
Q3 23	$495.9K	854
Q4 23	$318.3K	1K
Q1 24	$440.5K	1K
Q2 24	$346.9K	1K
Q3 24	$286.7K	1K
Q4 24	$222.7K	1K
Q1 25	$224.5K	1K
Q2 25	$222.7K	1K
Q3 25	$245.4K	1K
Q4 25	$258.6K	1K

Revenue / Employee