Skip to content
stoqly

Warrior Met Coal

HCC NYSE Steel Financials FY2017–FY2025

Warrior Met Coal's revenue fell 14.1% to $1.3 billion in fiscal 2025. Its operating margin was 3.5%, down from 16.7% a year earlier. Free cash flow was −$91 million. It paid out $18 million in dividends and buybacks. The diluted share count rose 0.5%.

Last close · Oct 23, 2026

$85.80

3.4%
Value it Compare
Revenue Total sales reported in the income statement.
$1.3B
14.1% vs prior year
Operating margin Operating income as a share of revenue.
3.5%
13.2 pts
Net income Profit after all expenses, interest and tax.
$57.0M
77.3%
Free cash flow Cash from operations minus capital spending.
−$91.0M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
2.4%
12.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$4.5B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
20.7x
On $4.15 EPS (TTM)

What Warrior Met Coal does

No business description yet.

Legal name
WARRIOR MET COAL, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-048914
0001691303

Revenue and margins

Warrior Met Coal had $1.3B of revenue in fiscal 2025, down 14.1% 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

From fiscal 2017 to 2025, diluted EPS grew −22.9% a year. 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 −$91.0M in fiscal 2025, −7.0% 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

Warrior Met Coal returned $17.8M to shareholders in fiscal 2025. The diluted share count rose 0.5%.

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

Value Warrior Met Coal 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

—

Adds net cash of $61.6M and divides by 52.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 20.7x · peers 56.4x · sector 20.1x.

Balance sheet

Cash, debt and the ratios that show how comfortably Warrior Met Coal can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $396M$830M$738M$492M$300M
Debt incl. finance leases $392M$336M$173M$173M$238M
Net debt / EBITDA −0.0x−0.5x−0.8x−0.8x−0.3x
Debt / equity 0.5x0.2x0.1x0.1x0.1x
Interest coverage 6.7x25.5x30.2x59.7x4.7x
Current ratio 5.1x7.7x7.2x5.2x3.2x
Quick ratio 4.7x6.7x6.0x4.0x2.3x
Total assets $1.5B$2.0B$2.4B$2.6B$2.8B
Total liabilities $592M$581M$483M$501M$642M
Shareholders' equity $872M$1.4B$1.9B$2.1B$2.1B
Net debt (− = net cash) −$3.9M−$494M−$565M−$319M−$61.6M

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

$0.0M

0 insiders

Sold, 12 months

$26.4M

4 insiders

Of sales under plans

96%

$25.4M

DateInsiderTradeSharesPriceValueFiling
Aug 24, 2026 Walter J SchellerChief Executive Officer, Director Sold plan 50,000 $110.00 $5.5M Form 4
Aug 19, 2026 Brian M ChopinChief Accounting Officer Sold 3,232 $104.02 $0.3M Form 4
Aug 19, 2026 Stephen D. WilliamsDirector Sold 4,800 $104.23 $0.5M Form 4
Aug 19, 2026 Walter J SchellerChief Executive Officer, Director Sold plan 50,000 $105.00 $5.3M Form 4
Jun 2, 2026 Kelli K. GantSee remarks Sold plan 20,000 $110.00 $2.2M Form 4
Jan 12, 2026 Kelli K. GantSee remarks Sold plan 10,000 $100.00 $1.0M Form 4
Jan 12, 2026 Walter J SchellerChief Executive Officer, Director Sold plan 100,000 $100.31 $10.0M Form 4
Nov 13, 2025 Brian M ChopinChief Accounting Officer Sold 1,498 $80.54 $0.1M Form 4
Nov 12, 2025 Brian M ChopinChief Accounting Officer Sold 585 $84.75 $0.0M Form 4
Nov 6, 2025 Walter J SchellerChief Executive Officer, Director Sold plan 18,966 $75.00 $1.4M 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 4 / 94 / 94 / 9
Accruals ratio −10.2%−4.7%−6.4%
Altman Z'' 10.469.197.15

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
Warrior Met Coal HCC $4.5B −14.1% 3.5% −7.0% 2.4% 20.7x 4
Metallus MTUS $880M 6.9% — −8.0% 0.3% 102.1x 5 Compare →
Alpha Metallurgical Resources AMR $2.1B −28.0% −2.9% 0.8% −4.2% — 4 Compare →
Worthington Steel WS $2.0B 11.3% −0.0% 2.3% −0.1% — 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 $1.2B $1.4B $1.3B $783M $1.1B $1.7B $1.7B $1.5B $1.3B
Gross profit $577M $661M $548M $158M $505M $1.0B $766M $518M $328M
Operating income $423M $508M $383M −$27.1M $244M $801M $541M $255M $45.7M
Interest expense $0.2M $30.2M $33.5M $30.5M $36.4M $31.4M $18.0M $4.3M $9.7M
Pretax income $417M $471M $367M −$55.9M $200M $783M $551M $284M $54.4M
Income tax −$38.6M −$226M $65.4M −$20.1M $49.1M $142M $72.8M $33.1M −$2.6M
Net income $455M $697M $302M −$35.8M $151M $641M $479M $251M $57.0M
Diluted EPS $8.62 $13.17 $5.86 −$0.70 $2.93 $12.40 $9.20 $4.79 $1.08
Diluted shares 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B
Cash flow
Cash from operations $435M $559M $533M $113M $352M $842M $701M $367M $229M
Capital expenditure $92.6M $102M $107M $87.5M $57.9M $205M $492M $457M $320M
Free cash flow $342M $458M $426M $25.1M $294M $637M $209M −$89.8M −$91.0M
Depreciation and amortization $75.4M $97.2M $97.3M $118M $141M $115M $127M $154M $189M
Stock-based compensation $4.2M $6.4M $5.8M $7.6M $9.4M $17.6M $18.2M $22.1M $20.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $2.5M $2.4M $0.0M $0.0M
Share buybacks $0.0M $38.0M $12.5M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $797M $361M $240M $10.4M $10.5M $79.7M $61.1M $43.8M $17.8M
Dividends and buybacks $797M $399M $253M $10.4M $10.5M $79.7M $61.1M $43.8M $17.8M
Balance sheet
Cash and short-term investments $35.5M $206M $193M $212M $396M $830M $738M $492M $300M
Total debt $346M $469M $339M $380M $340M $303M $153M $154M $154M
Finance lease liabilities $0.0M $0.0M $35.7M $38.5M $52.1M $33.1M $20.2M $19.4M $84.2M
Current assets $269M $469M $444M $468M $627M $1.2B $1.1B $887M $820M
Current liabilities $108M $124M $129M $170M $122M $153M $148M $170M $257M
Inventory $54.3M $56.7M $97.9M $119M $59.6M $154M $184M $208M $236M
Property and equipment, net $537M $540M $606M $637M $603M $739M $1.2B $1.5B $1.8B
Total assets $993M $1.4B $1.3B $1.4B $1.5B $2.0B $2.4B $2.6B $2.8B
Total liabilities $580M $682M $579M $669M $592M $581M $483M $501M $642M
Shareholders' equity $413M $713M $766M $725M $872M $1.4B $1.9B $2.1B $2.1B
Margins
Gross margin 49.3% 48.0% 43.2% 20.1% 47.7% 59.1% 45.7% 34.0% 25.0%
Operating margin 36.2% 36.9% 30.2% −3.5% 23.0% 46.1% 32.3% 16.7% 3.5%
EBITDA margin 42.7% 43.9% 37.9% 11.6% 36.4% 52.7% 39.9% 26.8% 17.9%
Net margin 38.9% 50.6% 23.8% −4.6% 14.2% 36.9% 28.6% 16.4% 4.4%
FCF margin 29.2% 33.2% 33.6% 3.2% 27.7% 36.6% 12.5% −5.9% −7.0%
Returns
Return on capital — 59.8% 32.8% −2.3% 20.4% 72.1% 41.5% 14.6% 2.4%
Return on capital employed — 47.2% 30.9% −2.2% 19.0% 49.8% 26.5% 11.0% 1.9%
Return on equity — 123.8% 40.8% −4.8% 18.9% 55.3% 28.8% 12.6% 2.7%
Return on assets — 58.4% 22.0% −2.6% 10.6% 36.7% 21.8% 10.1% 2.1%
Growth
Revenue growth — 17.9% −8.0% −38.3% 35.3% 64.2% −3.6% −9.0% −14.1%
Net income growth — 53.1% −56.7% −111.9% — 325.0% −25.4% −47.6% −77.3%
EPS growth — 52.8% −55.5% −112.0% — 323.2% −25.8% −47.9% −77.5%
FCF growth — 33.9% −7.0% −94.1% 1,068.2% 116.8% −67.1% −142.9% —
Share count change — 0.2% −2.7% −0.6% 0.5% 0.5% 0.6% 0.6% 0.5%
Financial health
Net debt / EBITDA 0.6x 0.4x 0.4x 2.3x −0.0x −0.5x −0.8x −0.8x −0.3x
Debt / equity 0.8x 0.7x 0.5x 0.6x 0.5x 0.2x 0.1x 0.1x 0.1x
Interest coverage 2,006.6x 16.8x 11.4x −0.9x 6.7x 25.5x 30.2x 59.7x 4.7x
Current ratio 2.5x 3.8x 3.4x 2.7x 5.1x 7.7x 7.2x 5.2x 3.2x
Quick ratio 2.0x 3.3x 2.7x 2.1x 4.7x 6.7x 6.0x 4.0x 2.3x
Capital allocation
Capex / revenue 7.9% 7.4% 8.5% 11.2% 5.5% 11.8% 29.3% 30.0% 24.5%
Stock comp / revenue 0.4% 0.5% 0.5% 1.0% 0.9% 1.0% 1.1% 1.5% 1.5%
Payouts / FCF 233.1% 87.1% 59.4% 41.4% 3.6% 12.5% 29.2% — —
Quality scores
Piotroski F-score — — 5.0 3.0 8.0 8.0 4.0 4.0 4.0
Altman Z'' 4.9 6.4 6.2 3.6 6.4 10.6 10.5 9.2 7.2
Accruals ratio — 11.5% −16.9% −10.8% −14.0% −11.5% −10.2% −4.7% −6.4%

Source: SEC EDGAR XBRL filings (CIK 0001691303). 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.

↑ ↓ to move · ↵ to open