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 1,122 763.7 - -
Change - -35.35% 124.62% -38.28% 108.7% -31.94% - -
Enterprise Value (EV) 1 621.4 387.8 929.7 537.7 1,133 951.5 1,002 1,132
Change - -37.58% 139.73% -42.17% 110.75% -16.04% 5.29% 12.97%
P/E 15.1x 3.38x 9.93x 93.3x -18.2x -13.8x -385x 55.9x
PBR 2.84x - 2.45x - 2.46x 2.37x 2.37x 1.99x
PEG - 0x -0.3x -1x 0x 4.16x 4x -0x
Capitalization / Revenue 2.12x 0.69x 1.26x 0.81x 2.09x 1.34x 1.1x 0.86x
EV / Revenue 2.19x 0.69x 1.34x 0.81x 2.11x 1.67x 1.44x 1.28x
EV / EBITDA 7.86x 1.9x 5.1x 5.08x 31.4x 35.1x 8.82x 7.2x
EV / EBIT 15.7x 2.58x 9.76x 32.3x -20.3x -13.3x -139x 16.2x
EV / FCF 13.2x - 13.7x 12.3x -18.6x -12.7x 429x 9.92x
FCF Yield 7.57% - 7.31% 8.15% -5.37% -7.84% 0.23% 10.1%
Dividend per Share 2 - - 0.5 0.55 - 0.02 0.0467 0.0533
Rate of return - - 2.91% 5.36% - 0.15% 0.35% 0.4%
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 13.20 13.20 13.20
Nbr of stocks (in thousands) 44,109 44,122 53,377 53,216 66,449 63,388 - -
Announcement Date 24/02/22 08/03/23 07/03/24 10/03/25 25/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.57x2.58x8.33x0.31% 551.52Cr
7.45x1.86x4.69x5.25% 384.48Cr
-63.54x1.28x17.8x-.--% 285.8Cr
14.57x - - 6% 193.48Cr
29.94x - - - 88Cr
Average 1.20x 1.91x 10.27x 2.89% 300.59Cr
Weighted average by Cap. -0.11x 2.05x 9.40x 2.36%

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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