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Alpha Metallurgical Resources

AMR NYSE Steel Financials FY2017–FY2025

Alpha Metallurgical Resources' revenue fell 28.0% to $2.1 billion in fiscal 2025. Its operating margin was −2.9%, down from 7.7% a year earlier. Free cash flow was $18 million, down 95.3%. It paid out $0 million in dividends and buybacks, 2% of free cash flow. The diluted share count fell 1.1%.

Last close · Oct 23, 2026

$163.60

2.6%
Value it Compare
Revenue Total sales reported in the income statement.
$2.1B
28.0% vs prior year
Operating margin Operating income as a share of revenue.
−2.9%
10.6 pts
Net income Profit after all expenses, interest and tax.
−$61.7M
132.9%
Free cash flow Cash from operations minus capital spending.
$17.8M
95.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−4.2%
20.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Alpha Metallurgical Resources does

No business description yet.

Legal name
ALPHA METALLURGICAL RESOURCES, INC.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001704715-26-000010
0001704715

Revenue and margins

Alpha Metallurgical Resources had $2.1B of revenue in fiscal 2025, down 28.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $17.8M in fiscal 2025, 0.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Alpha Metallurgical Resources returned $0.4M to shareholders in fiscal 2025, 2% of free cash flow. The diluted share count fell 1.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Alpha Metallurgical Resources yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of $402M and divides by 13.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Alpha Metallurgical Resources can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $81.2M$348M$268M$482M$416M
Debt incl. finance leases $457M$11.0M$10.4M$5.8M$13.4M
Net debt / EBITDA 0.8x−0.2x−0.3x−1.2x−3.6x
Debt / equity 0.8x0.0x0.0x0.0x0.0x
Interest coverage 5.2x72.5x124.7x59.8x−20.3x
Current ratio 2.5x2.8x3.4x4.1x4.5x
Quick ratio 2.1x2.3x2.6x3.5x3.5x
Total assets $1.9B$2.3B$2.4B$2.4B$2.3B
Total liabilities $1.3B$883M$832M$789M$735M
Shareholders' equity $547M$1.4B$1.6B$1.6B$1.5B
Net debt (− = net cash) $376M−$337M−$258M−$476M−$402M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$19.0M

3 insiders

Sold, 12 months

$0.9M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 8, 2026 Kenneth S. CourtisDirector Bought 10,000 $225.83 $2.3M Form 4
Aug 28, 2026 Kenneth S. CourtisDirector Bought 5,000 $228.99 $1.1M Form 4
Aug 25, 2026 Kenneth S. CourtisDirector Bought 5,000 $216.53 $1.1M Form 4
Aug 21, 2026 Continental General Insurance CoDirector, 10% owner Bought 10,000 $208.92 $2.1M Form 4
Aug 21, 2026 Kenneth S. CourtisDirector Bought 15,000 $210.51 $3.2M Form 4
Aug 20, 2026 Kenneth S. CourtisDirector Bought 15,000 $193.50 $2.9M Form 4
Jun 12, 2026 Kenneth S. CourtisDirector Bought 10,000 $200.73 $2.0M Form 4
Jun 3, 2026 Jason E. WhiteheadPresident & COO Bought 99 $214.94 $0.0M Form 4
Jun 3, 2026 Jason E. WhiteheadPresident & COO Sold 3,901 $212.28 $0.8M Form 4
Jun 1, 2026 Mark Matthew MannoEVP, GC & Secretary Sold 460 $214.64 $0.1M Form 4
May 12, 2026 Kenneth S. CourtisDirector Bought 15,000 $189.22 $2.8M Form 4
Mar 12, 2026 Kenneth S. CourtisDirector Bought 8,000 $191.07 $1.5M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✕
F-score 6 / 86 / 84 / 8
Accruals ratio −5.5%−16.2%−8.8%
Altman Z'' 9.087.827.07

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Alpha Metallurgical Resources AMR $2.1B −28.0% −2.9% 0.8% −4.2% — 4
Worthington Steel WS $2.0B 11.3% −0.0% 2.3% −0.1% — 5 Compare →
Warrior Met Coal HCC $4.5B −14.1% 3.5% −7.0% 2.4% 20.7x 4 Compare →
Metallus MTUS $880M 6.9% — −8.0% 0.3% 102.1x 5 Compare →
Commercial Metals CMC $7.0B 20.5% — 5.1% 12.9% 10.7x 7 Compare →

9 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.7B $2.0B $2.0B $1.4B $2.3B $4.1B $3.5B $3.0B $2.1B
Operating income $182M $194M −$169M −$171M $359M $1.6B $863M $228M −$61.4M
Interest expense $36.0M $38.8M $67.5M $74.5M $69.7M $21.8M $6.9M $3.8M $3.0M
Pretax income $106M $138M −$273M −$244M $292M $1.6B $846M $211M −$87.5M
Income tax −$68.0M −$165M −$53.3M −$2.2M $3.4M $106M $124M $23.2M −$25.8M
Net income $155M $299M −$316M −$447M $289M $1.4B $722M $188M −$61.7M
Diluted EPS $14.35 $25.54 −$16.82 −$24.42 $15.30 $79.49 $49.30 $14.28 −$4.75
Diluted shares 0.01B 0.01B 0.02B 0.02B 0.02B 0.02B 0.01B 0.01B 0.01B
Cash flow
Cash from operations $314M $158M $132M $129M $175M $1.5B $851M $580M $145M
Capital expenditure $72.7M $81.9M $160M $120M $83.3M $164M $245M $199M $127M
Free cash flow $242M $76.5M −$28.6M $9.7M $91.6M $1.3B $606M $381M $17.8M
Depreciation and amortization — — — — $110M $108M $137M $167M $175M
Stock-based compensation $20.4M $13.4M $12.4M $4.9M $5.3M $7.5M $19.0M $12.3M $13.6M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $24.9M $11.9M $0.0M $0.0M
Share buybacks $49.9M $20.3M $37.6M $0.2M $0.8M $522M $0.0M $0.0M $0.0M
Dividends paid $101M $0.0M $0.0M $0.0M $0.0M $13.4M $26.8M $3.1M $0.4M
Dividends and buybacks $151M $20.3M $37.6M $0.2M $0.8M $535M $26.9M $3.1M $0.4M
Balance sheet
Cash and short-term investments $142M $234M $213M $139M $81.2M $348M $268M $482M $416M
Total debt $373M $633M $623M $600M $455M $6.2M $5.1M $1.8M $3.9M
Finance lease liabilities $0.0M $0.0M $7.9M $4.0M $2.7M $4.8M $5.3M $4.0M $9.6M
Current assets $463M $830M $712M $510M $748M $1.1B $1.0B $1.0B $918M
Current liabilities $242M $355M $315M $259M $296M $403M $310M $251M $206M
Inventory $69.6M $122M $151M $108M $129M $201M $231M $169M $193M
Property and equipment, net $180M $700M $436M $364M $362M $443M $589M $635M $622M
Total assets $837M $2.7B $2.3B $1.7B $1.9B $2.3B $2.4B $2.4B $2.3B
Total liabilities $744M $1.7B $1.6B $1.5B $1.3B $883M $832M $789M $735M
Shareholders' equity $92.6M $1.1B $696M $200M $547M $1.4B $1.6B $1.6B $1.5B
Margins
Operating margin 11.1% 9.5% −8.5% −12.1% 15.9% 38.5% 24.9% 7.7% −2.9%
EBITDA margin — — — — 20.8% 41.2% 28.8% 13.4% 5.3%
Net margin 9.4% 14.7% −15.8% −31.6% 12.8% 35.3% 20.8% 6.3% −2.9%
FCF margin 14.6% 3.8% −1.4% 0.7% 4.1% 32.2% 17.5% 12.9% 0.8%
Returns
Return on capital — 21.6% −10.3% −15.2% 44.7% 146.1% 61.2% 16.3% −4.2%
Return on capital employed — 13.0% −7.7% −10.0% 24.1% 91.1% 43.1% 10.6% −2.9%
Return on equity — 51.4% −35.8% −99.7% 77.3% 146.6% 48.1% 11.6% −3.9%
Return on assets — 16.7% −12.5% −22.4% 16.3% 69.5% 30.6% 7.7% −2.6%
Growth
Revenue growth — 23.1% −1.5% −29.2% 59.5% 81.6% −15.4% −14.8% −28.0%
Net income growth — 93.6% −205.7% — — 401.6% −50.2% −74.0% −132.9%
EPS growth — 78.0% −165.9% — — 419.5% −38.0% −71.0% −133.3%
FCF growth — −68.3% −137.3% — 849.0% 1,340.0% −54.1% −37.1% −95.3%
Share count change — 8.8% 60.6% −2.7% 3.1% −3.4% −19.6% −10.3% −1.1%
Financial health
Net debt / EBITDA — — — — 0.8x −0.2x −0.3x −1.2x −3.6x
Debt / equity 4.0x 0.6x 0.9x 3.0x 0.8x 0.0x 0.0x 0.0x 0.0x
Interest coverage 5.1x 5.0x −2.5x −2.3x 5.2x 72.5x 124.7x 59.8x −20.3x
Current ratio 1.9x 2.3x 2.3x 2.0x 2.5x 2.8x 3.4x 4.1x 4.5x
Quick ratio 1.6x 2.0x 1.8x 1.6x 2.1x 2.3x 2.6x 3.5x 3.5x
Capital allocation
Capex / revenue 4.4% 4.0% 8.0% 8.4% 3.7% 4.0% 7.1% 6.7% 6.0%
Stock comp / revenue 1.2% 0.7% 0.6% 0.4% 0.2% 0.2% 0.6% 0.4% 0.6%
Payouts / FCF 62.4% 26.5% — 2.2% 0.9% 40.6% 4.4% 0.8% 2.3%
Quality scores
Piotroski F-score — — 3.0 3.0 6.0 8.0 6.0 6.0 4.0
Altman Z'' 3.7 2.8 1.2 −0.3 3.2 10.1 9.1 7.8 7.1
Accruals ratio — 7.9% −17.8% −28.9% 6.4% −1.7% −5.5% −16.2% −8.8%

Source: SEC EDGAR XBRL filings (CIK 0001704715). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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