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Core Natural Resources vs Warrior Met Coal: revenue, profit, margins and growth compared

Core Natural Resources brought in $4.2B of revenue in fiscal 2025, Warrior Met Coal $1.3B in fiscal 2025. Revenue changed by +86.2% at Core Natural Resources and -14.1% at Warrior Met Coal on the year before, so Core Natural Resources grew faster. Core Natural Resources kept -3.7% of its revenue as net profit, Warrior Met Coal 4.4%.

Side by side, latest fiscal year

CNRHCC
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.2B$1.3B
Revenue growth+86.2%-14.1%
Net income-$153.2M$57M
Net margin-3.7%4.4%
Free cash flow$21.2Mn/a
Free cash flow margin0.5%n/a
Earnings per share (diluted)-$2.98$1.08
Cash$432.2M$300M
Debt$394.8M$154.3M
Price to earningsn/a82.9
Market value$4.4B$4.7B
Dividend yield0.45%0.36%
Rank by revenue in sector#33 of 129 · Energy#73 of 129 · Energy

Over the years

Revenue
CNR FY2018: $1.5BCNR FY2019: $1.4BCNR FY2020: $1BCNR FY2021: $1.3BCNR FY2022: $2.3BCNR FY2023: $2.6BCNR FY2024: $2.2BCNR FY2025: $4.2BHCC FY2018: $1.4BHCC FY2019: $1.3BHCC FY2020: $782.7MHCC FY2021: $1.1BHCC FY2022: $1.7BHCC FY2023: $1.7BHCC FY2024: $1.5BHCC FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
CNR $4.2BHCC $1.3B
Net income
CNR FY2018: $153MCNR FY2019: $76MCNR FY2020: -$9.8MCNR FY2021: $34.1MCNR FY2022: $467MCNR FY2023: $655.9MCNR FY2024: $286.4MCNR FY2025: -$153.2MHCC FY2018: $696.8MHCC FY2019: $301.7MHCC FY2020: -$35.8MHCC FY2021: $150.9MHCC FY2022: $641.3MHCC FY2023: $478.6MHCC FY2024: $250.6MHCC FY2025: $57MFY18FY19FY20FY21FY22FY23FY24FY25
CNR -$153.2MHCC $57M
Net margin
CNR FY2018: 10.0%CNR FY2019: 5.3%CNR FY2020: -1.0%CNR FY2021: 2.7%CNR FY2022: 20.5%CNR FY2023: 25.5%CNR FY2024: 12.8%CNR FY2025: -3.7%HCC FY2018: 50.6%HCC FY2019: 23.8%HCC FY2020: -4.6%HCC FY2021: 14.2%HCC FY2022: 36.9%HCC FY2023: 28.5%HCC FY2024: 16.4%HCC FY2025: 4.4%FY18FY19FY20FY21FY22FY23FY24FY25
CNR -3.7%HCC 4.4%
Revenue growth
CNR FY2019: -6.6%CNR FY2020: -28.6%CNR FY2021: +23.4%CNR FY2022: +80.8%CNR FY2023: +12.7%CNR FY2024: -12.9%CNR FY2025: +86.2%HCC FY2019: -8.0%HCC FY2020: -38.3%HCC FY2021: +35.3%HCC FY2022: +64.2%HCC FY2023: -3.6%HCC FY2024: -9.0%HCC FY2025: -14.1%FY19FY20FY21FY22FY23FY24FY25
CNR +86.2%HCC -14.1%
Free cash flow
CNR FY2018: $267.8MCNR FY2019: $74.8MCNR FY2020: $43.3MCNR FY2021: $172.8MCNR FY2022: $479.5MCNR FY2023: $690.2MCNR FY2024: $298.4MCNR FY2025: $21.2MHCC FY2018: $457.8MHCC FY2019: $425.5MHCC FY2020: $25.1MHCC FY2021: $293.7MHCC FY2022: $636.7MFY18FY19FY20FY21FY22FY23FY24FY25
CNR $21.2MHCC $636.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Core Natural Resources and Warrior Met Coal

Which is bigger by revenue, Core Natural Resources or Warrior Met Coal?

Core Natural Resources is bigger by revenue: $4.2B in fiscal 2025, against $1.3B for Warrior Met Coal in fiscal 2025.

Which keeps more of its revenue as profit, Core Natural Resources or Warrior Met Coal?

Core Natural Resources had a net margin of -3.7% in fiscal 2025; Warrior Met Coal had 4.4% in fiscal 2025.

Which grew revenue faster, Core Natural Resources or Warrior Met Coal?

In their latest fiscal years revenue changed by +86.2% at Core Natural Resources and -14.1% at Warrior Met Coal.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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