AMR NYSE Steel Financials FY2017βFY2025
Alpha Metallurgical Resources had $2.1B of revenue in fiscal 2025, down 28.0% on the year before. Over five years, revenue changed +8.5% a year on average.
Hi! I read Alpha Metallurgical Resourcesβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β28.0%
No. Sales fell 28.0% last year.
Does it make a profit?
β2.9%
No. It lost money last year.
Does profit turn into cash?
0.8%
Partly. 0.8% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Alpha Metallurgical Resources did it, and the next one. Share prices often move a lot on those days.
Next results
November 5, 2026
Thursday Β· in 10 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Oct 23, 2026 | Period ended Sep 30, 2026 | Before the market opens | 8-K β |
| Jul 27, 2026 | Q2 '26 | Before the market opens | 8-K β |
| Apr 24, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Jan 30, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 6, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Aug 8, 2025 | Q2 '25 | Before the market opens | 8-K β |
| May 7, 2025 | Q1 '25 | Time not announced | 8-K β |
| Feb 28, 2025 | Q4 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Alpha Metallurgical Resources had $2.1B of revenue in fiscal 2025, down 28.0% on the year before. Over five years, revenue changed +8.5% a year on average. Its operating margin was β2.9%, down 10.6Β pts: of every 100 in sales, about β3 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Alpha Metallurgical Resources lost $61.7M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $17.8M in fiscal 2025, 0.8% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Alpha Metallurgical Resources returned $0.4M to shareholders in fiscal 2025, 2% of free cash flow. The diluted share count fell 1.1%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $19.0M and sold $0.9M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$19.0M
3 insiders
Sold, 12 months
$0.9M
2 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| 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 |
Can it carry its debts, and how well does it use its money?
KIRA Β· Alpha Metallurgical Resources has $402M more cash than debt.
Cash, debt and the ratios that show how comfortably Alpha Metallurgical Resources can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| 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 | β0.2x | β0.3x | β1.2x | β3.6x |
| Debt / equity | 0.8x | 0.0x | 0.0x | 0.0x | 0.0x |
| Interest coverage | 5.2x | 72.5x | 124.7x | 59.8x | β20.3x |
| Current ratio | 2.5x | 2.8x | 3.4x | 4.1x | 4.5x |
| Quick ratio | 2.1x | 2.3x | 2.6x | 3.5x | 3.5x |
| 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 (β = net cash) | $376M | β$337M | β$258M | β$476M | β$402M |
KIRA Β· Its return on capital was β4.2%: every 100 invested in the business earned about β4 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Alpha Metallurgical Resources passes 4 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | 6 / 8 | 6 / 8 | 4 / 8 |
| Accruals ratio | β5.5% | β16.2% | β8.8% |
| Altman Z'' | 9.08 | 7.82 | 7.07 |
What does the share cost, and how does it compare?
KIRA Β· At $163.60 a share, the company is worth $2.1B.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Value per share
β
Adds net cash of $402M and divides by 13.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
KIRA Β· Alpha Metallurgical Resources grew sales faster than 0 of its 4 similar companies.
Each companyβs latest fiscal year. Fiscal years end in different months, so periods donβt line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Alpha Metallurgical Resources AMR | $2.1B | β28.0% | β2.9% | 0.8% | β4.2% | β | 4 | |
| Worthington Steel WS | $2.0B | 11.3% | β0.0% | 2.3% | β0.1% | β | 5 | Compare β |
| Warrior Met Coal HCC | $4.5B | β14.1% | 3.5% | β7.0% | 2.4% | 20.7x | 4 | Compare β |
| Metallus MTUS | $880M | 6.9% | β | β8.0% | 0.3% | 102.1x | 5 | Compare β |
| Commercial Metals CMC | $7.0B | 20.5% | β | 5.1% | 12.9% | β | 7 | Compare β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| 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 | β$169M | β$171M | $359M | $1.6B | $863M | $228M | β$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 | β$273M | β$244M | $292M | $1.6B | $846M | $211M | β$87.5M |
| Income tax | β$68.0M | β$165M | β$53.3M | β$2.2M | $3.4M | $106M | $124M | $23.2M | β$25.8M |
| Net income | $155M | $299M | β$316M | β$447M | $289M | $1.4B | $722M | $188M | β$61.7M |
| Diluted EPS | $14.35 | $25.54 | β$16.82 | β$24.42 | $15.30 | $79.49 | $49.30 | $14.28 | β$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 | β$28.6M | $9.7M | $91.6M | $1.3B | $606M | $381M | $17.8M |
| Depreciation and amortization | β | β | β | β | $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% | β8.5% | β12.1% | 15.9% | 38.5% | 24.9% | 7.7% | β2.9% |
| EBITDA margin | β | β | β | β | 20.8% | 41.2% | 28.8% | 13.4% | 5.3% |
| Net margin | 9.4% | 14.7% | β15.8% | β31.6% | 12.8% | 35.3% | 20.8% | 6.3% | β2.9% |
| FCF margin | 14.6% | 3.8% | β1.4% | 0.7% | 4.1% | 32.2% | 17.5% | 12.9% | 0.8% |
| Returns | |||||||||
| Return on capital | β | 21.6% | β10.3% | β15.2% | 44.7% | 146.1% | 61.2% | 16.3% | β4.2% |
| Return on capital employed | β | 13.0% | β7.7% | β10.0% | 24.1% | 91.1% | 43.1% | 10.6% | β2.9% |
| Return on equity | β | 51.4% | β35.8% | β99.7% | 77.3% | 146.6% | 48.1% | 11.6% | β3.9% |
| Return on assets | β | 16.7% | β12.5% | β22.4% | 16.3% | 69.5% | 30.6% | 7.7% | β2.6% |
| Growth | |||||||||
| Revenue growth | β | 23.1% | β1.5% | β29.2% | 59.5% | 81.6% | β15.4% | β14.8% | β28.0% |
| Net income growth | β | 93.6% | β205.7% | β | β | 401.6% | β50.2% | β74.0% | β132.9% |
| EPS growth | β | 78.0% | β165.9% | β | β | 419.5% | β38.0% | β71.0% | β133.3% |
| FCF growth | β | β68.3% | β137.3% | β | 849.0% | 1,340.0% | β54.1% | β37.1% | β95.3% |
| Share count change | β | 8.8% | 60.6% | β2.7% | 3.1% | β3.4% | β19.6% | β10.3% | β1.1% |
| Financial health | |||||||||
| Net debt / EBITDA | β | β | β | β | 0.8x | β0.2x | β0.3x | β1.2x | β3.6x |
| 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 | β2.5x | β2.3x | 5.2x | 72.5x | 124.7x | 59.8x | β20.3x |
| 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% | β | 2.2% | 0.9% | 40.6% | 4.4% | 0.8% | 2.3% |
| Quality scores | |||||||||
| Piotroski F-score | β | β | 3.0 | 3.0 | 6.0 | 8.0 | 6.0 | 6.0 | 4.0 |
| Altman Z'' | 3.7 | 2.8 | 1.2 | β0.3 | 3.2 | 10.1 | 9.1 | 7.8 | 7.1 |
| Accruals ratio | β | 7.9% | β17.8% | β28.9% | 6.4% | β1.7% | β5.5% | β16.2% | β8.8% |
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 β not investment advice. Check the original filings before relying on any figure.
