Company Valuation: Ramaco Resources, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 599.9 387.8 871.2 537.7 1,122 537.4 - -
Change - -35.35% 124.62% -38.28% 108.7% -52.1% - -
Enterprise Value (EV) 1 621.4 387.8 929.7 537.7 1,133 725.2 775.5 905.4
Change - -37.58% 139.73% -42.17% 110.75% -36.01% 6.94% 16.75%
P/E 15.1x 3.38x 9.93x 93.3x -18.2x -9.63x -269x 39.1x
PBR 2.84x - 2.45x - 2.46x 1.65x 1.66x 1.39x
PEG - 0x -0.3x -1x 0x 2.9x 2.8x -0x
Capitalization / Revenue 2.12x 0.69x 1.26x 0.81x 2.09x 0.94x 0.77x 0.61x
EV / Revenue 2.19x 0.69x 1.34x 0.81x 2.11x 1.27x 1.12x 1.02x
EV / EBITDA 7.86x 1.9x 5.1x 5.08x 31.4x 26.8x 6.83x 5.76x
EV / EBIT 15.7x 2.58x 9.76x 32.3x -20.3x -10.2x -108x 13x
EV / FCF 13.2x - 13.7x 12.3x -18.6x -9.72x 332x 7.93x
FCF Yield 7.57% - 7.31% 8.15% -5.37% -10.3% 0.3% 12.6%
Dividend per Share 2 - - 0.5 0.55 - 0.02 0.0467 0.0533
Rate of return - - 2.91% 5.36% - 0.22% 0.51% 0.58%
EPS 2 0.9 2.6 1.73 0.11 -0.99 -0.9571 -0.0343 0.236
Distribution rate - - 28.9% 500% - -2.09% -136% 22.6%
Net sales 1 283.4 565.7 693.5 666.3 536.6 571.4 694.5 887.3
EBITDA 1 79.04 204.6 182.1 105.8 36.06 27.1 113.5 157.2
EBIT 1 39.53 150.4 95.24 16.64 -55.96 -71.37 -7.211 69.74
Net income 1 39.76 116 82.31 11.19 -51.45 -57.3 2.55 48.54
Net Debt 1 21.48 - 58.59 - 11.07 187.7 238 367.9
Reference price 2 13.600 8.790 17.180 10.260 18.000 9.220 9.220 9.220
Nbr of stocks (in thousands) 44,109 44,122 53,620 53,458 66,739 63,683 - -
Announcement Date 2/24/22 3/8/23 3/7/24 3/10/25 2/25/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-9.63x1.27x26.74x0.22% 537M
14.21x2.12x6.78x0.36% 4.64B
7.16x1.77x4.48x5.46% 3.66B
-49.11x0.98x13.55x-.--% 2.21B
13.62x - - 6.42% 1.81B
27.51x - - - 805M
Average 0.62x 1.54x 12.89x 2.49% 2.28B
Weighted average by Cap. 1.85x 1.74x 8.34x 2.6%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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