Latest Ratios: P/E Ratio 74.8x · EV/EBITDA 18.0x · ROE 2.7%. (2015–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.3B | $4.6B | $2.8B | $3.2B | $1.8B | $1.3B | $1.1B | $1.1B | $1.3B | $1.0B | — |
| Enterprise Value | $4.2B | $4.6B | $2.5B | $2.6B | $1.3B | $1.3B | $1.3B | $1.3B | $1.5B | $1.4B | — |
| P/E Ratio → | 74.84 | 81.64 | 11.32 | 6.63 | 2.79 | 8.77 | — | 3.61 | 1.83 | 2.29 | — |
| P/S Ratio | 3.26 | 3.54 | 1.86 | 1.89 | 1.03 | 1.25 | 1.39 | 0.86 | 0.93 | 0.89 | — |
| P/B Ratio | 1.99 | 2.17 | 1.36 | 1.69 | 1.24 | 1.52 | 1.50 | 1.42 | 1.79 | 2.52 | — |
| P/FCF | — | — | — | 15.15 | 2.83 | 4.50 | 43.40 | 2.56 | 2.77 | 3.05 | — |
| P/OCF | 18.62 | 20.23 | 7.73 | 4.53 | 2.13 | 3.76 | 9.69 | 2.04 | 2.28 | 2.40 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.52 | 1.65 | 1.56 | 0.75 | 1.24 | 1.66 | 1.00 | 1.12 | 1.16 | — |
| EV / EBITDA | 17.97 | 19.54 | 6.08 | 3.90 | 1.42 | 3.42 | 14.26 | 2.64 | 2.52 | 2.70 | — |
| EV / EBIT | 93.05 | 101.18 | 8.75 | 4.58 | 1.59 | 5.58 | — | 3.20 | 2.99 | 3.19 | — |
| EV / FCF | — | — | — | 12.45 | 2.05 | 4.49 | 51.61 | 2.98 | 3.34 | 3.95 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.5% | 8.5% | 97.0% | 35.9% | 50.9% | 31.6% | 0.7% | 33.1% | 47.3% | 46.9% | -14.8% |
| Operating Margin | 3.5% | 3.5% | 16.7% | 32.3% | 46.1% | 23.0% | -3.5% | 30.2% | 36.9% | 36.2% | -22.8% |
| Net Profit Margin | 4.4% | 4.4% | 16.4% | 28.5% | 36.9% | 14.2% | -4.6% | 23.8% | 50.6% | 38.9% | -30.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.7% | 2.7% | 12.6% | 28.8% | 55.3% | 18.9% | -4.8% | 40.8% | 123.8% | 78.1% | -14.8% |
| ROA | 2.1% | 2.1% | 10.1% | 21.8% | 36.7% | 10.6% | -2.6% | 22.0% | 58.3% | 46.9% | -12.7% |
| ROIC | 1.8% | 1.8% | 12.4% | 35.9% | 66.0% | 20.3% | -2.2% | 29.9% | 44.9% | 47.6% | -11.2% |
| ROCE | 1.8% | 1.8% | 11.0% | 26.5% | 49.8% | 19.0% | -2.2% | 30.8% | 47.2% | 47.9% | -10.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.08 | 0.09 | 0.23 | 0.45 | 0.58 | 0.49 | 0.66 | 0.84 | 0.01 |
| Debt / EBITDA | 1.15 | 1.15 | 0.42 | 0.26 | 0.37 | 1.02 | 4.60 | 0.78 | 0.77 | 0.69 | — |
| Net Debt / Equity | — | -0.01 | -0.15 | -0.30 | -0.34 | -0.00 | 0.28 | 0.24 | 0.37 | 0.75 | -0.19 |
| Net Debt / EBITDA | -0.12 | -0.12 | -0.77 | -0.84 | -0.54 | -0.01 | 2.27 | 0.38 | 0.43 | 0.62 | — |
| Debt / FCF | — | — | — | -2.70 | -0.78 | -0.01 | 8.21 | 0.43 | 0.57 | 0.91 | — |
| Interest Coverage | 4.68 | 4.68 | 67.42 | 31.70 | 25.91 | 6.48 | -0.73 | 13.51 | 13.79 | 60.95 | — |
Net cash position: cash ($300M) exceeds total debt ($271M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.19 | 3.19 | 5.20 | 7.24 | 7.66 | 5.14 | 2.74 | 3.44 | 3.77 | 2.48 | 4.50 |
| Quick Ratio | 2.27 | 2.27 | 3.99 | 5.99 | 6.66 | 4.65 | 2.05 | 2.68 | 3.31 | 1.98 | 3.89 |
| Cash Ratio | 1.37 | 1.37 | 2.97 | 5.06 | 5.47 | 3.31 | 1.29 | 1.61 | 1.79 | 0.49 | 2.59 |
| Asset Turnover | — | 0.47 | 0.59 | 0.71 | 0.86 | 0.72 | 0.56 | 0.94 | 0.99 | 1.18 | 0.39 |
| Inventory Turnover | 5.08 | 5.08 | 0.22 | 5.84 | 5.54 | 12.15 | 6.55 | 8.66 | 12.81 | 11.44 | 10.75 |
| Days Sales Outstanding | — | 50.79 | 33.89 | 24.04 | 32.64 | 44.85 | 41.24 | 32.88 | 37.04 | 41.28 | 71.02 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.4% | 0.4% | 1.5% | 1.9% | 4.4% | 0.8% | 1.0% | 22.1% | 28.3% | 76.5% | — |
| Payout Ratio | 31.3% | 31.3% | 17.5% | 12.8% | 12.4% | 6.9% | — | 79.7% | 51.8% | 175.1% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.3% | 1.2% | 8.8% | 15.1% | 35.8% | 11.4% | — | 27.7% | 54.6% | 43.7% | — |
| FCF Yield | — | — | — | 6.6% | 35.3% | 22.2% | 2.3% | 39.1% | 36.1% | 32.8% | — |
| Buyback Yield | 0.2% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.2% | 3.0% | 0.0% | — |
| Total Shareholder Yield | 0.6% | 0.6% | 1.5% | 1.9% | 4.4% | 0.8% | 1.0% | 23.2% | 31.2% | 76.5% | — |
| Shares Outstanding | — | $53M | $52M | $52M | $52M | $51M | $51M | $51M | $53M | $53M | $53M |
Capital Intensive Project Execution
Based on recent financial data, HCC trades at a trailing P/E of 75.26, which appears to reflect a market expectation that current earnings are depressed by the heavy capital investment cycle rather than a permanent decline in the company's long-term competitive earning power.
The significant divergence between the trailing P/E and the forward P/E of 12.40 suggests that investors are looking past current margin compression toward the expected completion of the Blue Creek expansion. This valuation regime implies that the market is pricing the stock as a growth-oriented industrial play rather than a mature, cash-cow commodity producer.
As reported in quarterly filings, ROIC has fluctuated significantly, dropping from 8.1% in 2024Q1 to 2.8% in 2026Q1, a trend that highlights the temporary drag on capital efficiency caused by the massive, non-productive capital expenditures currently tied up in the Blue Creek project.
The decay in ROIC is not necessarily indicative of poor operational performance but rather the inevitable consequence of a large-scale asset development phase where capital is deployed but not yet generating incremental revenue. Investors should monitor whether this metric recovers once the new capacity reaches full utilization, as the current levels are well below the company's historical performance.
According to the latest financial statements, the cash conversion cycle has expanded dramatically to 1933 days in 2026Q1, a figure that suggests significant bottlenecks in inventory management or logistical delays that are currently hindering the company's ability to convert production into realized cash flow.
The extreme spike in the CCC, driven largely by the days inventory outstanding, warrants further investigation into whether this reflects a strategic build-up of coal stockpiles or an operational failure to move product through the Port of Mobile. This inefficiency is a primary driver of the current cash flow pressure and contrasts sharply with the more stable turnover ratios observed in previous periods.
Based on reported figures, HCC maintains a robust financial position with a debt-to-equity ratio of 0.09 as of 2026Q1, which provides the company with significant flexibility to navigate the current period of negative free cash flow without the immediate threat of insolvency or covenant breaches.
The company's decision to maintain minimal debt while funding major growth projects internally is a defensive strategy that protects the firm from interest rate volatility. This low leverage profile is a structural advantage compared to peers who may be forced to curtail capital spending during cyclical downturns due to debt service obligations.
The trailing P/E ratio is the most commonly misapplied metric for HCC, as it fails to account for the lumpy nature of capital-intensive mining projects and the significant non-cash expenses that currently distort the company's reported net income during this specific phase of the business cycle.
Investors relying on P/E ratios may incorrectly conclude that the company is overvalued, ignoring the fact that current earnings are artificially suppressed by the accounting treatment of growth-related expenditures. A more appropriate metric for this business model would be EV/EBITDA or a normalized P/FCF, which better captures the underlying cash-generating potential of the mining assets once the expansion phase concludes.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying HCC stock.
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Warrior Met Coal, Inc.'s current EV/EBITDA is 18.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.3x.
Warrior Met Coal, Inc.'s return on equity (ROE) is 2.7%. The historical average is 34.1%.
Based on historical data, Warrior Met Coal, Inc. is trading at a P/E of 74.8x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Warrior Met Coal, Inc.'s current dividend yield is 0.42% with a payout ratio of 31.3%.
Warrior Met Coal, Inc. has 8.5% gross margin and 3.5% operating margin.
Warrior Met Coal, Inc.'s Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.