WARRIOR MET COAL, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WARRIOR MET COAL, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	298	1,169	1,378	1,268	783	1,059	1,739	1,677	1,525	1,310
Cost of revenue		593	717	721	625	554	711	910	1,007	982
Gross profit		577	661	548	158	505	1,028	766	518	328
Selling, general and administrative		36.5	36.6	37	32.9	35.6	48.8	51.8	63.1	65.7
Operating income		423	508	383	-27.1	244	801	541	255	45.7
Interest expense							31.4	18	4.27	9.74
Interest income							12.4	40.7	33	18.5
Other non-operating income				22.8	3.54	1.29	0.68	-1.03	0	0
Pre-tax income		416	471	367	-55.9	200	783	551	284	54.4
Income tax		-38.6	-226	65.4	-20.1	49.1	142	72.8	33.1	-2.55
Net income	-49.7	455	697	302	-35.8	151	641	479	251	57
EBITDA		499	605	481	91	385	917	669	409	234
EPS, basic		8.62	13.19	5.87	-0.70	2.94	12.42	9.21	4.79	1.08
EPS, diluted		8.62	13.17	5.86	-0.70	2.93	12.40	9.20	4.79	1.08
Shares, basic (weighted)		52.8	52.8	51.4	51.2	51.4	51.6	52	52.3	52.6
Shares, diluted (weighted)		52.8	52.9	51.5	51.2	51.4	51.7	52	52.3	52.6
Dividend per share		14.92	6.73	4.61	0.20	0.20	1.54	1.16	0.82	0.32

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	150	35.5	206	193	212	396	829	738	492	300
Receivables	65.9	118	138	99.5	83.3	122	152	98.2	141	182
Inventory	39.4	54.3	56.7	97.9	119	59.6	154	184	208	236
Other current assets	12	29.4	27.9	23.8	39.9	33.1	25.5	27.6	31.7	49.5
Total current assets	291	269	469	444	467	627	1,173	1,069	887	820
Property, plant and equipment	497	537	540	606	637	603	739	1,180	1,549	1,817
Long-term investments								0	44.6
Other non-current assets	16.7	18.4	21	18.2	14.1	15.1	19.8	22	27.3	28.1
Total assets	948	993	1,395	1,344	1,394	1,464	2,028	2,357	2,592	2,784
Accounts payable	6.04	28.1	33.6	46.4	59.1	33.8	39	36.2	40.2	66.1
Accrued liabilities	47.3	66.7	82.3	65.8	86.1	54.8	77.4	81.6	85.4	132
Short-term debt	2.85	2.97	0.76	0	0	0	0	0	0	0
Total current liabilities	64.6	108	124	129	170	122	153	148	170	257
Long-term debt	3.73	343	468	339	380	340	303	153	154	154
Other non-current liabilities	1.15	2.56	5.51	1.2	2.26	1.84	0.5	0	0
Total liabilities	195	580	682	579	669	592	581	483	501	642
Total debt	6.57	346	469	339	380	340	303	153	154	154
Paid-in capital	802	330	240	244	250	256	270	279	290	301
Retained earnings	-49.7	82.5	510	572	526	666	1,228	1,645	1,851	1,891
Treasury stock		0	-38	-50.6	-50.6	-50.6	-50.6	-50.6	-50.6	-50.6
Shareholders' equity	753	413	713	766	725	872	1,448	1,874	2,091	2,141
Total equity	753	413	713	766	725	872	1,448	1,874	2,091	2,141
Total liabilities and equity	948	993	1,395	1,344	1,394	1,464	2,028	2,357	2,592	2,784
Shares outstanding	53.4	53.3	51.6	51.1	51.2	51.4	51.7	52	52.3	52.6

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-49.7	455	697	302	-35.8	151	641	479	251	57
Depreciation and amortization		75.4	97.2	97.3	118	141	115	127	154	189
Stock-based compensation		4.18	6.41	5.82	7.6	9.37	17.6	18.2	22.1	20
Deferred income tax		-1.69	-223	68.5	-20.1	49.1	142	52.9	-8.05	-9.39
Change in receivables		-51.9	-20.7	38.9	16.2	-38.9	-29.7	53.6	-42.6	-40.7
Change in inventory		-13.7	-1.81	-30.5	-13.5	45.7	-79.8	-30.8	-18.5	-28.3
Change in payables		14.4	5.06	13.4	15.4	-20.3	-5.44	0.22	-2.55	30.9
Cash from operations		435	559	533	113	352	842	701	367	229
Capital expenditures		-92.6	-102	-107	-87.5	-57.9	-205
Acquisitions		0	0		0	0	2.53	-2.42	0	0
Purchases of investments		0	0	-24.2	-8.5	0	0	0	-49.7
Cash from investing		-92.6	-108	-134	-108	-71.1	-255	-527	-538	-405
Debt issued		345	129	0	0	348	0	0
Debt repaid		-3.06	-3.06	-140	0	-350	-39.4	-162	0	0
Share buybacks		0	-38	-12.5	0	0
Dividends paid		-797	-361	-240	-10.4	-10.5	-79.7	-61.1	-43.8	-17.8
Cash from financing		-458	-282	-412	14.1	-96.5	-153	-265	-68.5	-15.4
Net change in cash		-116	170	-13	18.5	184	434	-91.3	-239	-191
Free cash flow		342	458	426	25.1	294	637
Interest paid		0.21	30.2	33.5	30.5	36.4	27.8	24	13.6	19.9
Income taxes paid		2.35	0	0.09	0.07	0	0	27	26.5	8.6

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $89.51 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	32.1%	Gross profit / revenue.
Operating margin	13.6%	Operating income / revenue.
EBITDA margin	26.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.6%	Pre-tax income / revenue.
Net margin	13.0%	Net income / revenue.
Operating cash flow margin	17.9%	Cash from operations / revenue.
Effective tax rate	4.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.6%	Net income / average total assets.
Return on invested capital (ROIC)	10.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	4.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.3%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	12.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-14.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-9.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-36.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-31.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-82.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-61.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-42.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-36.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	20.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-77.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-55.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-77.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-55.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-37.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-35.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	15.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-61.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-40.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	9.9%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	2.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	13.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	24.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	11.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	14.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.93x	Current assets / current liabilities.
Quick ratio	2.42x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.29x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.07x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	5.3%	Total debt / total assets.
Liabilities / assets	21.0%	Total liabilities / total assets.
Net debt	-$147.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.34x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	17.1x	Operating income / interest expense.
Working capital	$684.0M	Current assets - current liabilities.
Tangible book value	$2.29B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.58x	Revenue / average total assets.
Fixed asset turnover	0.91x	Revenue / average property, plant and equipment.
Inventory turnover	4.31x	Cost of revenue / average inventory.
Days inventory	85 days	365 x average inventory / cost of revenue.
Receivables turnover	6.38x	Revenue / average receivables.
Days sales outstanding	57 days	365 x average receivables / revenue.
Days payables	25 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	117 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.15	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$31.79	Revenue / diluted weighted shares.
Operating cash flow per share	$5.70	Cash from operations / diluted weighted shares.
Book value per share	$43.37	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$43.37	Tangible book value / shares outstanding.
Cash per share	$5.73	(Cash + short-term investments) / shares outstanding.
Payout ratio	7.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.73B	Share price x shares outstanding.
Enterprise value	$4.58B	Market cap + total debt - cash - short-term investments.
P/E	21.5x	Market cap / net income. Only when net income is positive.
P/S	2.81x	Market cap / revenue.
P/B	2.06x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.06x	Market cap / tangible book value, when positive.
P/OCF	15.7x	Market cap / cash from operations, when positive.
EV/Sales	2.72x	Enterprise value / revenue.
EV/EBIT	20.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.4x	Enterprise value / EBITDA, when both are positive.
Earnings yield	4.6%	Net income / market cap (the inverse of P/E).
Dividend yield	0.4%	Dividends paid over the period / market cap.
Shareholder yield	0.4%	(Dividends paid + share buybacks) / market cap.

What was WARRIOR MET COAL, INC.'s revenue in fiscal 2025?

WARRIOR MET COAL, INC. reported revenue of $1.31B for fiscal 2025, 14.1% lower than the year before.

Was WARRIOR MET COAL, INC. profitable in fiscal 2025?

Yes. Net income was $57.0M, a net margin of 4.4%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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