METCZ

MKT CAP:$1B

Ramaco Resources, Inc.

Market Cap

$1B

Basic Materials·Industrial Materials·🇺🇸 United States·NASDAQ

Materials·Industrial·🇺🇸·NASDAQ

Stock Price

$25.11-$0.31 (-1.22%)

Apr 24, 2026

Company Details

Ramaco Resources, Inc. engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the ...

CEO

Randall W. Atkins

IPO Date

Dec 3, 2024

Website

ramacoresources.com

Key Metrics TTM

Revenue

$537M

-19.5% YoY

Net Income

-$51M

EPS (Diluted)

-$0.90

Free Cash Flow

-$61M

Revenue / Share

$8.78

Gross Margin

12.4%

Operating Margin

-10.4%

Net Margin

-9.6%

FCF Margin

-11.3%

P/S

2.7x

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Feb 26, 2026

$537M-19.5%EPS -$0.84

Q4 2025

Feb 26, 2026

$128M-25.1%EPS -$0.24

Q3 2025

Oct 28, 2025

$121M-27.7%EPS -$0.22

Q2 2025

Jun 30, 2025

$153M-1.5%EPS -$0.26

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 23	$203M	$63M	$37M
Q1 24	$173M	$33M	$3M
Q2 24	$155M	$33M	$5M
Q3 24	$167M	$33M	$2M
Q4 24	$171M	$35M	$6M
Q1 25	$135M	$21M	-$12M
Q2 25	$153M	$19M	-$14M
Q3 25	$121M	$19M	-$14M
Q4 25	$128M	$8M	-$16M

Valuation

Quarter	P/S	P/E
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	2.0x	37.4x
Q4 24	2.1x	125.0x
Q1 25	2.2x	—
Q2 25	2.2x	—
Q3 25	2.4x	—
Q4 25	2.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 23	$42M	$22M
Q1 24	$25M	$6M
Q2 24	$34M	$13M
Q3 24	$37M	$20M
Q4 24	$16M	$3M
Q1 25	$26M	$5M
Q2 25	-$4M	-$20M
Q3 25	-$1M	-$18M
Q4 25	-$18M	-$28M

Capital Expenditures

Quarter	CapEx
Q4 23	$19M
Q1 24	$19M
Q2 24	$22M
Q3 24	$17M
Q4 24	$12M
Q1 25	$21M
Q2 25	$15M
Q3 25	$17M
Q4 25	$10M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 24	-15.7%	-0.6%
Q1 25	-22.0%	-13.4%
Q2 25	-1.5%	+11.3%
Q3 25	-27.7%	-18.3%
Q4 25	-25.1%	-12.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 23	$3M	1.6%
Q1 24	$5M	2.7%
Q2 24	$5M	3.0%
Q3 24	$4M	2.4%
Q4 24	$4M	2.5%
Q1 25	$3M	2.5%
Q2 25	$5M	3.1%
Q3 25	$5M	3.9%
Q4 25	$5M	3.7%

OpEx Breakdown

Quarter	SG&A
Q4 23	$11M
Q1 24	$14M
Q2 24	$11M
Q3 24	$13M
Q4 24	$12M
Q1 25	$15M
Q2 25	$15M
Q3 25	$16M
Q4 25	$21M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$42M	$0	$42M
Q1 24	$31M	$0	$31M
Q2 24	$28M	$0	$28M
Q3 24	$23M	$0	$23M
Q4 24	$33M	$0	$33M
Q1 25	$43M	$0	$43M
Q2 25	$28M	$0	$28M
Q3 25	$194M	$0	$194M
Q4 25	$440M	$0	$440M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 23	36M	—	—
Q1 24	51M	+43.8%	—
Q2 24	59M	+15.4%	—
Q3 24	52M	-11.6%	—
Q4 24	58M	+10.8%	+62.5%
Q1 25	63M	+8.2%	+22.3%
Q2 25	54M	-14.6%	-9.5%
Q3 25	61M	+14.1%	+16.7%
Q4 25	61M	0.0%	+5.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 23	$250.0K	811
Q1 24	$212.9K	811
Q2 24	$191.5K	811
Q3 24	$206.4K	811
Q4 24	$173.7K	984
Q1 25	$136.8K	984
Q2 25	$155.4K	984
Q3 25	$123.0K	984
Q4 25	$142.2K	900

Revenue / Employee