Ramaco Resources 8.250% Senior Notes due 2030 (METCI) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the METCI SEC filings page.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) reported $544.5M in revenue over the twelve months to Sep 30, 2026, down 6.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The business shifted from lightly financed, cash-generative operations to debt-funded losses as margins and cash conversion deteriorated.
The margin squeeze was broader than weaker sales: FY2025 revenue fell19.5% while gross margin fell 4.5 percentage points. SG&A still rose40.7% , leaving overhead heavier as the business contracted rather than flexing down with volume.
Accounting profitability no longer translated into cash: operating cash flow was only
The balance sheet changed character: total assets reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ramaco Resources, Inc. 8.250% Senior Notes due 2030's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 has an operating margin of -10.4%, meaning the company loses $10 on every $100 of revenue. This results in a profitability score of 28/100. This is down from 2.5% the prior year.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030's revenue declined 19.5% year-over-year, from $666.3M to $536.6M. This contraction results in a growth score of 8/100.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 has elevated debt relative to equity (D/E of 0.97), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 28/100, reflecting increased financial risk.
With a current ratio of 5.46, Ramaco Resources, Inc. 8.250% Senior Notes due 2030 holds $5.46 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 93/100.
While Ramaco Resources, Inc. 8.250% Senior Notes due 2030 generated $2.0M in operating cash flow, capex of $62.8M consumed most of it, leaving -$60.8M in free cash flow. This results in a low score of 25/100, reflecting heavy capital investment rather than weak cash generation.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 posts a -10.6% return on equity (ROE), meaning it loses $11 for every $100 of shareholders' equity. This results in a returns score of 36/100. This is down from 3.1% the prior year.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 reported a net loss of $51.4M while generating $2.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 reported an operating loss of $56.0M against $7.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 generated $150.1M in revenue in Q3 2026. This represents an increase of 24.0% from the same quarter a year earlier. Against the prior quarter it is up 3.7%.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030's EBITDA was -$3.5M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 233.3% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 reported a net loss of $18.2M in Q3 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
Cash & Balance Sheet
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 recorded an outflow of $47.5M in free cash flow in Q3 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 held $233.0M in cash as of Q3 2026; no long-term debt figure is on record for that period.
Not reported for Q3 2026.
Margins & Returns
Ramaco Resources, Inc. 8.250% Senior Notes due 2030's gross margin was 10.8% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 5.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030's operating margin was -14.1% in Q3 2026, reflecting core business profitability. This is down 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.5 percentage points.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030's net profit margin was -12.2% in Q3 2026, showing the share of revenue converted to profit. This is down 1.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.5 percentage points.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030's quarterly ROE was -5.0% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.
Capital Allocation
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 repurchased no shares in Q3 2026. Against the prior quarter it is down 100.0%.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 invested $35.5M in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 113.8% from the same quarter a year earlier. Against the prior quarter it is up 31.0%.
Not reported for Q3 2026.
METCI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A |
|---|---|---|---|---|---|---|---|---|
| Revenue | $150.1M+24.0% | $144.8M-5.3% | $121.6M-9.7% | $128.0M-25.1% | $121.0M-27.7% | $153.0M-1.5% | $134.7M-22.0% | $170.9M-15.7% |
| Cost of Revenue | $133.8M+31.4% | $128.2M-4.5% | $108.5M-4.9% | $103.2M-24.1% | $101.8M-24.4% | $134.2M+9.3% | $114.1M-18.3% | $136.1M-2.4% |
| Gross Profit | $16.3M-15.0% | $16.6M-11.5% | $13.1M-36.2% | $24.8M-28.8% | $19.2M-41.4% | $18.8M-42.3% | $20.5M-37.7% | $34.8M-45.0% |
| SG&A Expenses | $19.3M+19.4% | $17.6M+15.8% | $20.3M+38.9% | $23.4M+106.4% | $16.1M+24.9% | $15.2M+39.3% | $14.6M+3.5% | $11.4M+0.4% |
| Operating Income | -$21.1Mn/m | -$18.2Mn/m | -$24.3Mn/m | -$15.6M-345.7% | -$14.5M-1008.5% | -$13.8M-355.7% | -$12.0M-467.1% | $6.4M-82.9% |
| EBITDA | -$3.5M-233.3% | -$1.4M-145.0% | -$7.7M-239.3% | $876K-96.2% | $2.6M-86.6% | $3.2M-85.0% | $5.5M-70.2% | $23.1M-55.4% |
| Interest Expense | $1.4M-38.2% | -$1.5Mn/m | -$334Kn/m | -$5.0Mn/m | $2.3M+32.7% | -$2.8M-290.3% | -$2.2M-267.4% | -$10.6Mn/m |
| Income Tax | -$5.2Mn/m | -$4.2Mn/m | -$5.8Mn/m | -$1.1M-148.6% | -$3.3M-5508.2% | -$2.0M-321.9% | -$4.3M-894.4% | $2.2M-74.9% |
| Net Income | -$18.2Mn/m | -$15.4Mn/m | -$18.3Mn/m | -$14.7M-481.2% | -$13.3Mn/m | -$14.0M-352.2% | -$9.5M-565.4% | $3.9M-87.2% |
| EPS (Basic) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0.06-90.3% |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0.06-89.8% |
Not reported in any period shown, so not listed: R&D Expenses, Diluted Shares (Avg).
METCI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.0B+18.4% | $1.0B+51.9% | $1.1B+59.2% | $1.1B+69.1% | $849.7M+31.6% | $674.6M+2.3% | $685.7M+1.7% | $674.7M+1.3% |
| Current Assets | $424.2M+29.0% | $460.6M+197.4% | $542.7M+231.0% | $597.6M+256.5% | $328.7M+124.1% | $154.9M-3.6% | $164.0M-10.2% | $167.6M-11.7% |
| Cash & Equivalents | $233.0M+20.2% | $282.5M+904.4% | $355.2M+717.2% | $440.3M+1234.0% | $193.8M+747.8% | $28.1M+2.0% | $43.5M+42.5% | $33.0M-21.3% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $94.3M+15.7% | $100.4M+69.2% | $105.5M+88.1% | $87.2M+101.0% | $81.6M+53.8% | $59.3M+13.2% | $56.1M+36.0% | $43.4M+16.7% |
| Accounts Receivable | $77.0M+76.6% | $60.7M+8.6% | $66.3M+27.3% | $54.4M-26.1% | $43.6M-30.7% | $55.9M-19.6% | $52.1M-49.7% | $73.6M-24.0% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $643.1M+99.2% | $648.6M+98.2% | $654.6M+98.1% | $657.0M+110.7% | $322.7M+13.8% | $327.2M+11.6% | $330.5M+9.5% | $311.9M+5.3% |
| Current Liabilities | $107.4M-2.9% | $108.8M-4.3% | $111.2M-10.6% | $109.5M-10.6% | $110.6M+1.6% | $113.8M-5.8% | $124.4M-16.2% | $122.4M-28.0% |
| Non-Current Liabilities | $535.7M+152.5% | $539.8M+152.9% | $543.3M+163.6% | $547.5M+189.0% | $212.2M+21.4% | $213.4M+23.8% | $206.1M+34.5% | $189.5M+50.1% |
| Long-Term Debt | N/A | N/A | N/A | $467.6M+820173.7% | $116.3M+169.6% | N/A | N/A | $57K-83.7% |
| Total Equity | $363.0M-31.1% | $376.1M+8.2% | $437.0M+23.0% | $483.6M+33.3% | $526.9M+45.6% | $347.4M-5.1% | $355.2M-4.6% | $362.8M-1.8% |
| Retained Earnings | -$52.3M-405.9% | -$34.0M-204.6% | -$18.6M-138.5% | -$311K-100.4% | $17.1M-78.7% | $32.6M-63.4% | $48.4M-47.3% | $69.5M-24.4% |
Not reported in any period shown, so not listed: Goodwill.
METCI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$12.0Mn/m | $12.2Mn/m | -$34.6M-232.9% | -$18.4M-217.1% | -$1.4M-103.9% | -$4.3M-112.4% | $26.0M+3.4% | $15.7M-62.3% |
| Depreciation & Amortization | $17.6M+3.2% | $16.8M-1.3% | $16.6M-5.3% | $16.5M-1.3% | $17.1M-4.0% | $17.0M+7.3% | $17.5M+15.3% | $16.7M+16.0% |
| Stock-Based Compensation | $5.1M+8.5% | $5.9M+22.9% | $4.9M+46.0% | N/A | $4.7M+17.5% | $4.8M+4.3% | $3.4M-28.5% | N/A |
| Capital Expenditures | $35.5M+113.8% | $27.1M+79.1% | $17.5M-13.9% | $10.7M+0.9% | $16.6M+40.9% | $15.1M+7.4% | $20.3M+8.5% | $10.6M-41.0% |
| Free Cash Flow | -$47.5Mn/m | -$15.0Mn/m | -$52.1M-1009.9% | -$31.0M-710.5% | -$18.1M-170.6% | -$19.4M-195.6% | $5.7M-11.3% | $5.1M-78.5% |
| Investing Cash Flow | -$35.7Mn/m | -$27.4Mn/m | -$17.0Mn/m | -$27.5Mn/m | -$19.8Mn/m | -$14.1Mn/m | -$22.3Mn/m | -$12.7Mn/m |
| Financing Cash Flow | -$1.9M-101.0% | -$57.5M-2001.5% | -$33.5M-602.3% | $292.4M+3966.2% | $186.9Mn/m | $3.0Mn/m | $6.7Mn/m | $7.2Mn/m |
| Dividends Paid | N/A | N/A | N/A | $0-100.0% | $0-100.0% | $1.9M-77.2% | $2.5M-70.2% | $128K-98.4% |
| Share Buybacks | $0 | $54.0M | $11.9M | N/A | N/A | N/A | N/A | N/A |
METCI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.8%-5.0pp | 11.5%-0.8pp | 10.8%-4.5pp | 19.4%-1.0pp | 15.8%-3.7pp | 12.3%-8.7pp | 15.2%-3.8pp | 20.4%-10.9pp |
| Operating Margin | -14.1%-2.1pp | -12.6%-3.6pp | -20.0%-11.1pp | -12.2%-15.9pp | -12.0%-12.9pp | -9.0%-12.5pp | -8.9%-10.8pp | 3.7%-14.7pp |
| Net Margin | -12.2%-1.1pp | -10.7%-1.5pp | -15.1%-8.0pp | -11.5%-13.8pp | -11.0%-10.9pp | -9.1%-12.7pp | -7.0%-8.2pp | 2.3%-12.6pp |
| Return on Equity | -5.0%-2.5pp | -4.1%-0.1pp | -4.2%-1.5pp | -3.0%-4.1pp | -2.5%-2.5pp | -4.0%-5.5pp | -2.7%-3.2pp | 1.1%-7.1pp |
| Return on Assets | -1.8%-0.2pp | -1.5%+0.6pp | -1.7%-0.3pp | -1.3%-1.9pp | -1.6%-1.5pp | -2.1%-2.9pp | -1.4%-1.7pp | 0.6%-3.9pp |
| Current Ratio | 3.95+1.0x | 4.23+2.9x | 4.88+3.6x | 5.46+4.1x | 2.97+1.6x | 1.360.0x | 1.32+0.1x | 1.37+0.3x |
| Debt-to-Equity | N/A | N/A | N/A | 0.97+1.0x | 0.22+0.1x | N/A | N/A | 0.000.0x |
| Liabilities-to-Equity | 1.77+1.2x | 1.72+0.8x | 1.50+0.6x | 1.36+0.5x | 0.61-0.2x | 0.94+0.1x | 0.93+0.1x | 0.86+0.1x |
| Asset Turnover | 0.150.0x | 0.14-0.1x | 0.11-0.1x | 0.11-0.1x | 0.14-0.1x | 0.230.0x | 0.20-0.1x | 0.25-0.1x |
| FCF Margin | -31.7%-16.7pp | -10.3%+2.4pp | -42.8%-47.1pp | -24.2%-27.2pp | -14.9%-30.2pp | -12.7%-25.8pp | 4.3%+0.5pp | 3.0%-8.7pp |
Where Ramaco Resources, Inc. 8.250% Senior Notes due 2030 Ranks
Frequently Asked Questions
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) reported $536.6M in total revenue for fiscal year 2025. This represents a -19.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) revenue declined by 19.5% year-over-year, from $666.3M to $536.6M in fiscal year 2025.
No, Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) reported a net loss of $66.7M over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net loss of $51.4M, with a net profit margin of -9.6%.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had EBITDA of $12.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had $440.3M in cash and equivalents against $467.6M in long-term debt.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had a gross margin of 15.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had an operating margin of -10.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had a net profit margin of -9.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) has a return on equity of -10.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) recorded an outflow of $60.8M in free cash flow during fiscal year 2025. This represents a -205.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) generated $2.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) invested $62.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had a current ratio of 5.46 as of fiscal year 2025, which is generally considered healthy.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had a debt-to-equity ratio of 0.97 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had a liabilities-to-equity ratio of 1.36 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) had a return on assets of -4.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) reported a net loss of $51.4M while generating $2.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) reported an operating loss of $56.0M against $7.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
Ramaco Resources, Inc. 8.250% Senior Notes due 2030 (METCI) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.