WARRIOR MET COAL, INC. HCC
Warrior Met Coal, Inc. (together with its subsidiaries, the "Company" or "Warrior") is a U.S.-based, environmentally and socially minded supplier to the global steel industry headquartered in Brookwood, Alabama. We are dedicated entirely to mining non-thermal steelmaking coal used as a critical component of steel production by metal manufacturers in Europe, South America and Asia. We are a large-scale, low-cost producer and exporter of premium quality met or steelmaking coal, also known as hard coking coal ("HCC"), operating highly efficient longwall operations in our underground mines based in Alabama, Mine No. 4, Mine No. 7 and Blue Creek. Our steelmaking coal production totaled 9.3 million metric tons in 2025. Our natural gas operations remove and sell natural gas from our owned and leased coal seams by reducing natural gas levels in our mines.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.31B | $1.53B | $1.68B | $1.74B | $1.06B | $782.7M | $1.27B | $1.38B | $1.17B | $297.6M |
| Cost of revenue | $982.4M | $1.01B | $910.3M | $710.6M | $554.3M | $625.2M | $720.7M | $716.6M | $592.5M | — |
| Gross profit | $327.6M | $517.9M | $766.4M | $1.03B | $504.9M | $157.6M | $547.6M | $661.4M | $576.6M | — |
| SG&A | $65.7M | $63.1M | $51.8M | $48.8M | $35.6M | $32.9M | $37.0M | $36.6M | $36.5M | — |
| Total operating expenses | $1.26B | $1.27B | $1.14B | $937.3M | $815.5M | $809.9M | $884.9M | $869.7M | $745.7M | — |
| Operating income | $45.7M | $254.9M | $541.4M | $801.4M | $243.8M | -$27.1M | $383.4M | $508.3M | $423.4M | — |
| Interest expense | $9.7M | $4.3M | $18.0M | $31.4M | — | — | — | — | — | — |
| Pre-tax income | $54.4M | $283.7M | $551.4M | $783.1M | $200.0M | -$55.9M | $367.1M | $471.0M | $416.5M | — |
| Income tax | $2.6M | $33.1M | $72.8M | $141.8M | $49.1M | $20.1M | $65.4M | $225.8M | $38.6M | — |
| Net income | $57.0M | $250.6M | $478.6M | $641.3M | $150.9M | -$35.8M | $301.7M | $696.8M | $455.0M | -$49.7M |
| EPS, basic | 1.08 | 4.79 | 9.21 | 12.42 | 2.94 | -0.70 | 5.87 | 13.19 | 8.62 | — |
| EPS, diluted | 1.08 | 4.79 | 9.20 | 12.40 | 2.93 | -0.70 | 5.86 | 13.17 | 8.62 | — |
| Shares, diluted (wtd. avg.) | $52.6M | $52.3M | $52.0M | $51.7M | $51.4M | $51.2M | $51.5M | $52.9M | $52.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $300.0M | $491.5M | $738.2M | $829.5M | $395.8M | $211.9M | $193.4M | $206.4M | $36.3M | $152.7M |
| Receivables | $181.6M | $140.9M | $98.2M | $151.8M | $122.2M | $83.3M | $99.5M | $138.4M | $117.7M | $65.9M |
| Inventory | $235.9M | $207.6M | $183.9M | $154.0M | $59.6M | $118.7M | $97.9M | $56.7M | $54.3M | $39.4M |
| Total current assets | $820.3M | $887.1M | $1.07B | $1.17B | $627.2M | $467.5M | $444.0M | $469.2M | $268.9M | $290.8M |
| Property, plant and equipment | — | — | — | — | — | — | — | $540.3M | $536.7M | $497.0M |
| Total assets | $2.78B | $2.59B | $2.36B | $2.03B | $1.46B | $1.39B | $1.34B | $1.40B | $993.3M | $947.6M |
| Accounts payable | $66.1M | $40.2M | $36.2M | $39.0M | $33.8M | $59.1M | $46.4M | $33.6M | $28.1M | $6.0M |
| Short-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $760.0K | $3.0M | $2.8M |
| Total current liabilities | $257.0M | $170.4M | $147.7M | $153.1M | $122.1M | $170.3M | $129.0M | $124.4M | $108.2M | $64.6M |
| Long-term debt | $154.3M | $153.6M | $153.0M | $302.6M | $339.8M | $379.9M | $339.2M | $468.2M | $342.9M | $3.7M |
| Total liabilities | $642.4M | $500.7M | $482.6M | $580.6M | $592.2M | $668.7M | $578.7M | $682.4M | $580.3M | $194.7M |
| Retained earnings | $1.89B | $1.85B | $1.65B | $1.23B | $666.0M | $525.5M | $571.7M | $510.3M | $82.5M | -$49.7M |
| Total equity | $2.14B | $2.09B | $1.87B | $1.45B | $872.0M | $725.2M | $765.6M | $712.6M | $413.0M | $753.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $229.2M | $367.4M | $701.1M | $841.9M | $351.5M | $112.6M | $532.8M | $559.4M | $434.5M | — |
| Depreciation and amortisation | $188.6M | $154.0M | $127.4M | $115.3M | $141.4M | $118.1M | $97.3M | $97.2M | $75.4M | — |
| Stock-based compensation | $20.0M | $22.1M | $18.2M | $17.6M | $9.4M | $7.6M | $5.8M | $6.4M | $4.2M | — |
| Capital expenditure | — | — | — | $205.2M | $57.9M | $87.5M | $107.3M | $101.6M | $92.6M | — |
| Investing cash flow | -$405.1M | -$538.0M | -$527.2M | -$255.1M | -$71.1M | -$108.2M | -$134.2M | -$107.6M | -$92.6M | — |
| Financing cash flow | -$15.4M | -$68.5M | -$265.2M | -$153.1M | -$96.5M | $14.1M | -$411.6M | -$281.6M | -$458.3M | — |
| Dividends paid | $17.8M | $43.8M | $61.1M | $79.7M | $10.5M | $10.4M | $240.4M | $360.6M | $796.9M | $190.0M |
| Buybacks | — | — | — | — | $0 | $0 | $12.5M | $38.0M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-048914.
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