Alpha Metallurgical Resources vs Metallus
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The short version
- Alpha Metallurgical Resources is the larger business, with $2.1B of revenue in fiscal 2025 against $1.2B for Metallus, about 1.8 times as much.
- Metallus grew revenue faster (6.9%, against −28.0%).
- Alpha Metallurgical Resources turned more of its sales into free cash flow (0.8% FCF margin, against −8.0%).
- Metallus earned a higher return on the capital invested in it (0.3%, against −4.2%).
| Latest fiscal year | AMR · FY25 | MTUS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.1B | $880M |
| Revenue | $2.1B | $1.2B |
| Free cash flow | $17.8M | −$93.0M |
| Net income | −$61.7M | −$1.2M |
| Growth | ||
| Revenue growth | −28.0% | 6.9% |
| 5-year growth | 8.5% | 6.9% |
| Share count change | −1.1% | −5.4% |
| Profitability | ||
| Gross margin | — | 8.2% |
| Operating margin | −2.9% | — |
| Net margin | −2.9% | −0.1% |
| FCF margin | 0.8% | −8.0% |
| Return on capital | −4.2% | 0.3% |
| Return on equity | −3.9% | −0.2% |
| Balance sheet | ||
| Net debt | −$402M | −$153M |
| Net debt / EBITDA | −3.6x | −2.6x |
| Dividends and buybacks | $0.4M | $13.1M |
| Valuation & quality | ||
| P/E | — | 102.1x |
| Piotroski F-score | 4 | 5 |
Revenue
FY16
AMR —
MTUS $870M
FY17
AMR $1.7B
MTUS $1.3B
FY18
AMR $2.0B
MTUS $1.6B
FY19
AMR $2.0B
MTUS $1.2B
FY20
AMR $1.4B
MTUS $831M
FY21
AMR $2.3B
MTUS $1.3B
FY22
AMR $4.1B
MTUS $1.3B
FY23
AMR $3.5B
MTUS $1.4B
FY24
AMR $3.0B
MTUS $1.1B
FY25
AMR $2.1B
MTUS $1.2B
AMR
MTUS
Operating margin
FY16
AMR —
MTUS −7.2%
FY17
AMR 11.1%
MTUS −1.8%
FY18
AMR 9.5%
MTUS 0.4%
FY19
AMR −8.5%
MTUS —
FY20
AMR −12.1%
MTUS —
FY21
AMR 15.9%
MTUS —
FY22
AMR 38.5%
MTUS —
FY23
AMR 24.9%
MTUS —
FY24
AMR 7.7%
MTUS —
FY25
AMR −2.9%
MTUS —
AMR
MTUS
Free cash flow
FY16
AMR —
MTUS $31.7M
FY17
AMR $242M
MTUS −$24.9M
FY18
AMR $76.5M
MTUS −$21.5M
FY19
AMR −$28.6M
MTUS $32.3M
FY20
AMR $9.7M
MTUS $157M
FY21
AMR $91.6M
MTUS $185M
FY22
AMR $1.3B
MTUS $107M
FY23
AMR $606M
MTUS $73.7M
FY24
AMR $381M
MTUS −$24.0M
FY25
AMR $17.8M
MTUS −$93.0M
AMR
MTUS
Return on capital
FY16
AMR —
MTUS −6.7%
FY17
AMR —
MTUS −2.8%
FY18
AMR 21.6%
MTUS 0.7%
FY19
AMR −10.3%
MTUS −12.7%
FY20
AMR −15.2%
MTUS −6.4%
FY21
AMR 44.7%
MTUS 38.0%
FY22
AMR 146.1%
MTUS 15.1%
FY23
AMR 61.2%
MTUS 15.6%
FY24
AMR 16.3%
MTUS 0.7%
FY25
AMR −4.2%
MTUS 0.3%
AMR
MTUS
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.