METC Ramaco Resources, Inc.

Overview and Growth

Fiscal 2025 results for Ramaco Resources, Inc. combined $536.62M of revenue with net loss of $51.45M and an operating cash inflow of $1.97M. The $536.62M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 19.5% below fiscal 2024 revenue of $666.29M, marking a top-line contraction. Diluted earnings per share were -$0.99, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $0.11 in fiscal 2024, the current result was 1000.0% lower. At period end, total assets were $1.14B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.47x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $83.23M as gross profit before recognizing operating expenses and other items. Gross profit represented 15.5% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $55.96M, reflecting costs that exceeded gross profit. An operating margin of -10.4% reflected costs exceeding revenue-level gross profit by 10.4% of sales. The bottom-line result was a net loss of $51.45M after operating, financing, tax, and other recognized items. The net loss equaled 9.6% of revenue, showing the bottom-line deficit relative to the company’s sales base. EBITDA was $12.20M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. The company reported a pretax loss of $62.14M, before the effect of income taxes. Pretax margin was -11.6%, reflecting a pre-tax loss equal to 11.6% of revenue. The reported tax benefit was $10.69M, favorably bridging the pretax and after-tax results. Relative to period-end equity, the net loss represented 10.6%. Relative to total assets, the net loss represented 4.5%. The company moved from fiscal 2024 net income of $11.19M to a current net loss of $51.45M.

Liquidity and Capital Structure

At period end, the $1.14B asset base was financed through $657.00M of liabilities and $483.57M of equity. At period end, current assets of $597.61M compared with current liabilities of $109.50M, defining the company’s short-term resource position. The current ratio was 5.46x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $440.35M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 402.1%, excluding receivables and other current assets. Borrowings totaled $467.61M, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.97x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 41.0%, comparing borrowing with the total asset balance. The equity-to-assets relationship was 42.4%, placing book capital against the total resource base. Relative to total assets, liabilities measured 57.6%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 38.6%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $674.69M in fiscal 2024, the current asset base moved 69.1% and finished higher. Reported equity changed 33.3% from $362.81M in fiscal 2024, placing the current capital base higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $1.97M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Compared with $112.67M in fiscal 2024, current operating cash flow of $1.97M was below the prior result.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.