Alpha Metallurgical Resources vs Commercial Metals
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KIRA’s take AI analyst
I put Alpha Metallurgical Resources and Commercial Metals side by side, using each one’s latest annual report. Here is what stands out:
- Commercial Metals is the larger business, with $9.4B of revenue in fiscal 2026 against $2.1B for Alpha Metallurgical Resources, about 4.4 times as much.
- Commercial Metals grew revenue faster (20.5%, against −28.0%).
- Commercial Metals turned more of its sales into free cash flow (5.1% FCF margin, against 0.8%).
- Commercial Metals earned a higher return on the capital invested in it (12.9%, against −4.2%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Alpha Metallurgical Resources
AMR
2/9
5-year growthNet debt / EBITDA
Commercial Metals
CMC
7/9
Revenue growthNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | AMR FY25 | CMC FY26 |
|---|---|---|
| Size | ||
| Market cap | $2.0B | $7.0B |
| Revenue | $2.1B | $9.4B |
| Free cash flow | $17.8M | $479M |
| Net income | −$61.7M | $656M |
| Growth | ||
| Revenue growth | −28.0% | 20.5% |
| 5-year growth | 8.5% | 6.9% |
| Share count change | −1.1% | −2.0% |
| Profitability | ||
| Gross margin | — | 18.7% |
| Operating margin | −2.9% | — |
| Net margin | −2.9% | 7.0% |
| FCF margin | 0.8% | 5.1% |
| Return on capital | −4.2% | 12.9% |
| Return on equity | −3.9% | 14.8% |
| Balance sheet | ||
| Net debt | −$402M | $2.6B |
| Net debt / EBITDA | −3.6x | 2.2x |
| Dividends and buybacks | $0.4M | $187M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 4 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

