NACCO INDUSTRIES INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NACCO INDUSTRIES 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	111	105	135	141	128	192	242	215	238	277
Cost of revenue	99	87.9	105	110	111	148	174	200	208	239
Gross profit	12.1	16.9	30	31.1	17	43.5	67.8	14.6	29.8	38.5
Research and development	9.7
Selling, general and administrative	48.9	47.5	49.2	53.8	53.1	55.7	63.9	65.6	69.8	77.9
Operating expenses	69	45.5	51.3	56.2	63.7	59.2	69.1	135
Operating income	-1.66	32.8	43.6	38.8	13.4	55.4	70	-70.1	35.7	22
Interest expense	4.32	3.44	2	0.87	1.35	1.72	2.03	2.46	5.57	5.75
Interest income	0.2
Other non-operating income	-5.03	-3.71	-1.46	4.58	0.81	1.44	17.7	5.98	-2.06	-8.84
Pre-tax income	34.5	29.1	42.2	43.4	14.3	56.9	87.7	-64.2	33.6	13.1
Income tax	-9.65	0.64	7.38	3.77	-0.54	8.73	13.6	-24.6	-0.1	-4.43
Income from continuing operations	2.96	28.5	34.8
Net income	29.6	30.3	34.8	39.6	14.8	48.1	74.2	-39.6	33.7	17.6
EBITDA	11.4	45.6	58.3	55.1	31.6	78.5	96.8	-40.8	60.4	47.3
EPS, basic	4.34	4.44	5.02	5.68	2.11	6.73	10.14	-5.29	4.58	2.37
EPS, diluted	4.32	4.41	5.00	5.66	2.10	6.69	10.06	-5.29	4.55	2.35
Shares, basic (weighted)	6.82	6.83	6.92	6.97	7.03	7.15	7.31	7.48	7.36	7.42
Shares, diluted (weighted)	6.85	6.87	6.96	7.01	7.06	7.19	7.37	7.48	7.41	7.48
Dividend per share	1.07	0.98	0.66	0.74	0.77	0.79	0.82	0.86	0.90	0.99

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	69.3	102	85.3	123	88.5	86	111	85.1	72.8	49.7
Receivables					18.9	25.7	37.9
Inventory	28.9	30	31.2	40.5	47.6	54.1	71.5	77	94.6	63.6
Other current assets				6.53	8.31	14.6	15.6	18.1	25.9	13.9
Total current assets	382	177	164	201	188	203	260	232	265	215
Property, plant and equipment	115	120	125	138	172	193	218	224	259	288
Lease right-of-use assets				11.4	10.3	8.91	6.42	8.67	9.66	9.6
Goodwill	6.25
Intangible assets	45.7	43.6	40.5	37.9	35.3	31.8	28.1	6.01	5.48	4.73
Other non-current assets	23.1	23.1	24.4	32.1	41	51.2	40.3	21.7	25.8	29.5
Total assets	668	390	377	445	476	507	568	540	632	661
Accounts payable	7	7.58	7.75	9.37	5.52	12.2	12
Deferred revenue		0.86	0.75	0.94	0.94	4.08	0.83	0.88	0.48	1.36
Short-term debt	1.74	1.13	0.65	0.8	2.11	2.53	3.65	3.95	4.18	9.08
Total current liabilities	222	54	42.2	62	52.3	46	44.3	70	64.9	69.6
Long-term debt	94.3	42	6.37	17.1	24.4	18.2	16	22
Lease liabilities				12.4	11.2	9.73	7.53	8.78	9.04	7.95
Other non-current liabilities	9.74	12.3	15.6	6.19	12.1	7.53	8.5	6.12	12.9	7.94
Total liabilities	448	170	126	155	176	155	141	157	227	232
Total debt	126	56.7	10.6	24.3	45	20.4	18.9	35.8	99.4	101
Paid-in capital	0	4.45	7.04	8.91	10.9	16.3	23.7	28.7	34.3	42.4
Retained earnings	239	216	250	285	294	337	405	356	373	381
Other comprehensive income	-25.9	-8.34	-13.6	-11.3	-11.6	-8.18	-9.01	-9.65	-10.1	-1.74
Shareholders' equity	220	219	251	289	301	352	427	382	405	429
Total equity	220	219	251	289	301	352	427	382	405	429
Total liabilities and equity	668	390	377	445	476	507	568	540	632	661

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	29.6	30.3	34.8	39.6	14.8	48.1	74.2	-39.6	33.7	17.6
Depreciation and amortization	13.1	12.8	14.7	16.2	18.1	23.1	26.8	29.4	24.7	25.3
Stock-based compensation		4.52	3.96	4.92	3.08	5.56	7.54	5.16	5.83	8.28
Deferred income tax	10.9	4.09	9.28	8.7	7.52	-3.55	-8.47	-21.1	1.52	0.06
Change in receivables	-8.67	-9.31	-3.01	8.22	0.04	-13.7	-13.2	2.52	-11.7	2.92
Change in inventory	6.71	-1.13	-1.19	-9.26	-9.36	-6.53	-6.83	-13	-27.3	-11.4
Change in payables	0.21	1.05	0.06	-0.39	-10.6	7.45	0.25	3.15	1.96	2.67
Cash from operations	93.9	41.3	54.6	52.8	-2.49	74.9	67.7	54.5	22.3	50.9
Capital expenditures	-10.2	-15.7	-20.9	-24.7	-30.2	-39.2	-42.5	-45.4	-54.7	-48.6
Purchases of investments				0	-2	0	0	-3.46	-16.6	-16.7
Cash from investing	-9.82	-15	-18.4	-20.3	-46	-44.1	-33.2	-81.6	-71.3	-64.2
Debt issued			0.4	2	7.43	3.63	3.09	5.23	0.62
Debt repaid	-2.56	-6.05	-1.13	-0.74	-1.35	-3.44	-2.92	-4.21	-4.91	-4.64
Share buybacks	-6.04	0	-1.29	-3.01	-1	0	0	-3.1	-9.94	-2.53
Dividends paid	-7.26	-6.68	-4.58	-5.13	-5.38	-5.62	-6.01	-6.45	-6.62	-7.34
Cash from financing	-55.7	-2.31	-52.6	5.11	14	-33.2	-9.84	1.47	36.7	-9.86
Net change in cash	28.1	24.1	-16.3	37.6	-34.4	-2.45	24.7	-25.6	-12.3	-23.1
Free cash flow	83.8	25.6	33.7	28.1	-32.7	35.6	25.2	9.08	-32.4	2.28
Interest paid	4.7	3.9	2	0.9	1.4	1.6	2	2.4	5.3	7
Income taxes paid	0.4	5.2	0.5	1	0.4	11.5	23.4	1.4	5.2	0.62

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 $37.67 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	18.5%	Gross profit / revenue.
Operating margin	8.3%	Operating income / revenue.
EBITDA margin	16.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	4.6%	Pre-tax income / revenue.
Net margin	6.2%	Net income / revenue.
Operating cash flow margin	26.7%	Cash from operations / revenue.
Effective tax rate	-36.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.6%	Net income / average total assets.
Return on invested capital (ROIC)	4.6%	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	28.4%	Selling, general and administrative expense / revenue.
D&A / revenue	8.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	16.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	29.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-17.2%	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	17.8%	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	-38.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-32.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	10.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-21.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-21.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	8.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-47.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-38.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	3.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-48.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-38.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	2.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	128.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-9.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	-55.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	9.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	6.3%	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	5.1%	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	6.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.2%	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	7.4%	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	4.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.2%	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	6.8%	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	0.9%	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	0.5%	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	1.2%	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	3.30x	Current assets / current liabilities.
Quick ratio	0.72x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.72x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.02x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	1.3%	Total debt / total assets.
Liabilities / assets	35.6%	Total liabilities / total assets.
Net debt	-$36.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.78x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	4.35x	Operating income / interest expense.
Working capital	$145.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	$431.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.41x	Revenue / average total assets.
Fixed asset turnover	0.93x	Revenue / average property, plant and equipment.
Inventory turnover	3.72x	Cost of revenue / average inventory.
Days inventory	98 days	365 x average inventory / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.29	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	$36.92	Revenue / diluted weighted shares.
Operating cash flow per share	$9.86	Cash from operations / diluted weighted shares.
Book value per share	$57.83	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$57.25	Tangible book value / shares outstanding.
Cash per share	$6.04	(Cash + short-term investments) / shares outstanding.
Payout ratio	44.2%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$284.3M	Share price x shares outstanding.
Enterprise value	$247.4M	Market cap + total debt - cash - short-term investments.
P/E	16.4x	Market cap / net income. Only when net income is positive.
P/S	1.02x	Market cap / revenue.
P/B	0.65x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.66x	Market cap / tangible book value, when positive.
P/OCF	3.82x	Market cap / cash from operations, when positive.
EV/Sales	0.89x	Enterprise value / revenue.
EV/EBIT	10.7x	Enterprise value / operating income, when both are positive.
EV/EBITDA	5.25x	Enterprise value / EBITDA, when both are positive.
Earnings yield	6.1%	Net income / market cap (the inverse of P/E).
Dividend yield	2.7%	Dividends paid over the period / market cap.
Shareholder yield	3.3%	(Dividends paid + share buybacks) / market cap.

What was NACCO INDUSTRIES INC's revenue in fiscal 2025?

NACCO INDUSTRIES INC reported revenue of $277.2M for fiscal 2025, 16.6% higher than the year before.

Was NACCO INDUSTRIES INC profitable in fiscal 2025?

Yes. Net income was $17.6M, a net margin of 6.3%.

How much free cash flow did NACCO INDUSTRIES INC generate in fiscal 2025?

Cash from operations of $50.9M minus capital expenditures of $48.6M left free cash flow of $2.3M.

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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