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 1,122 714.3 - -
Change - -35.35% 124.62% -38.28% 108.7% -36.34% - -
Enterprise Value (EV) 1 621.4 387.8 929.7 537.7 1,133 902.1 952.4 1,082
Change - -37.58% 139.73% -42.17% 110.75% -20.4% 5.58% 13.64%
P/E 15.1x 3.38x 9.93x 93.3x -18.2x -12.9x -360x 52.3x
PBR 2.84x - 2.45x - 2.46x 2.21x 2.22x 1.87x
PEG - 0x -0.3x -1x 0x 3.89x 3.7x -0x
Capitalization / Revenue 2.12x 0.69x 1.26x 0.81x 2.09x 1.25x 1.03x 0.81x
EV / Revenue 2.19x 0.69x 1.34x 0.81x 2.11x 1.58x 1.37x 1.22x
EV / EBITDA 7.86x 1.9x 5.1x 5.08x 31.4x 33.3x 8.39x 6.89x
EV / EBIT 15.7x 2.58x 9.76x 32.3x -20.3x -12.6x -132x 15.5x
EV / FCF 13.2x - 13.7x 12.3x -18.6x -12.1x 408x 9.49x
FCF Yield 7.57% - 7.31% 8.15% -5.37% -8.27% 0.25% 10.5%
Dividend per Share 2 - - 0.5 0.55 - 0.02 0.0467 0.0533
Rate of return - - 2.91% 5.36% - 0.16% 0.38% 0.43%
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 13.60 8.79 17.18 10.26 18.00 12.35 12.35 12.35
Nbr of stocks (in thousands) 44,109 44,122 53,377 53,216 66,449 63,388 - -
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.($)
-15.06x1.79x37.66x0.14% 833M
18.25x2.69x8.68x0.29% 5.73B
7.18x1.78x4.5x5.44% 3.68B
-65.76x1.33x18.45x-.--% 2.96B
14.5x - - 6.03% 1.92B
30.64x - - - 897M
Average -1.71x 1.90x 17.32x 2.38% 2.67B
Weighted average by Cap. -1.29x 2.07x 11.53x 2.21%

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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