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ZYBERNO

Stock Report

Updated Aug 26, 2026

Ramaco Resources, Inc. (METCZ)

Materials • NASDAQ

$25.43

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

15.0/100

POOR BUSINESS

Ramaco Resources, Inc. (METCZ) scores 15/100 — concerning metrics indicating significant structural or financial risks.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full METCZ quality analysis & detailed breakdown

VALUATION SIGNAL

N/A (Requires more data)

Requires fair value calculation and current price data

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full METCZ valuation analysis · → View full METCZ Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (-13.5%)

Debt-to-Equity (Solvency Risk):POOR (1.22x)

Operating Margin (Operational Efficiency):CRITICAL (-14.1%)

Return on Capital (Capital Efficiency):CRITICAL (-52.8%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

Ramaco Resources, Inc. (METCZ) stock report — Zyberno Score 15/100 (POOR BUSINESS). Full financial analysis on Zyberno.

Over the trailing twelve months, METCZ generated -$119.60M in Owner Earnings. Capital was deployed as follows: $11.93M returned via share buybacks, $6.19M paid as dividends, $61.80M invested in capital expenditures. Reinvestment rate: 9.9%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:25.43

Market Cap:$1.12B

Valuation Multiples (4)

P/E Ratio:

231.18x

📊 Click to view full METCZ P/E analysis →

P/B Ratio:2.99x

P/S Ratio:2.18x

Peg Ratio:-999.00x

Enterprise Metrics (1)

Enterprise Value:$850.09M

Price Action & Momentum (3)

12-1 Momentum:

+0.2% (41th pctile)

📈 Click to view full METCZ Momentum analysis →

Momentum Percentile:41 / 100

% of 52-Week High:97.8%

B. Profitability Assessment

Return Metrics (5)

ROE:

-13.5%

📊 Click to view full METCZ ROE analysis →

ROA:-6.0%

Roic:

-52.8%

📊 Click to view full METCZ ROIC analysis →

Reinvestment Rate:9.9%

Fundamental Growth Rate (g):-5.2%

Margin Analysis (3)

Operating Margin Ttm:-14.1%

Net Margin Ttm:-12.0%

Ebitda Margin:-1.1%

TTM Performance (3)

Gross Margin Ttm:14.3%

Operating Margin Ttm:-14.1%

Net Margin Ttm:-12.0%

Yield Metrics (2)

Earnings Yield:$0.43

Dividend Yield:0.6%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

-1.41

📊 Click to view full METCZ Earnings Surprise analysis →

EPS Surprise vs Expected:-90.4%

Latest Earnings Filed:2025-03-17

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):-4.6%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):-50.0%

Cash Flow Growth (Linear) (1)

Operating Cash Flow Growth Rate (Linear):-12.2%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):-50.0%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:4.23x

Quick Ratio:3.31x

Cash Ratio:2.60x

Leverage Analysis (3)

Debt To Equity Ttm:1.22x

Debt-to-Equity Ratio:1.22x

Debt To Ebitda:-999.00x

Coverage Ratios (1)

Times Interest Earned:-999.00

Capital Structure (4)

Working Capital:351,802,000.00

Cash And Cash Equivalents:282,535,000.00

Long Term Debt:$9.74M

Net Debt:-$272.79M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $515.42M

Linear Growth: -4.6%

📊 Click to view full METCZ Revenue analysis & methodology →

Cost Of Revenue Ttm:$441.77M

Profitability Breakdown (2)

Gross profit TTM: $73.65M

Linear Growth: -29.5%

📊 Click to view full METCZ Gross Profit analysis & methodology →

Operating income TTM: -$72.64M

Linear Growth: -50.0%

📊 Click to view full METCZ Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: -$61.75M

Linear Growth: -50.0%

📊 Click to view full METCZ Net Income analysis & methodology →

Income Before Tax:-$76.12M

Ebitda Ttm:-5,644,000.00

Operating Expenses (5)

Operating Expenses:588,058,000.00

R And D Expense:0.00

Sga Expense:77,442,000.00

Income Tax Expense:-$14.37M

Interest Expense:-1,519,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:53.5%

Ebitda Margin:-1.1%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$1.02B

Current Assets:$460.64M

Ppe Net:533,200,000.00

Goodwill:0.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:648,611,000.00

Current Liabilities:108,839,000.00

Long Term Debt:$9.74M

Short Term Debt:$6.00K

Equity & Capital (3)

Equity:$376.07M

Retained Earnings:-$34.05M

Common Stock:260,000,000.00

Working Capital Items (3)

Accounts Receivable:60,747,000.00

Inventory:100,367,000.00

Accounts Payable:49,964,000.00

Special Items (2)

Contract Liabilities:0.00

Stock Based Compensation:5,900,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: -$58.67M

Linear Growth: -12.2%

-$120.48M

Investment Activities (2)

Investing Cash Flow:-$17.02M

Capital Expenditures Ttm:61,803,000.00

Financing Activities (3)

Financing Cash Flow:-$33.52M

Dividends Paid Ttm:6,194,000.00

Stock Repurchase:11,929,000.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$52.00M

Long Term Debt Repayments:$50.00K

Non-Cash Items (1)

Depreciation Amortization Ttm:66,999,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):0.11

Eps diluted TTM: $0.11

Linear Growth: -17.1%

📊 Click to view full METCZ EPS analysis & methodology →

Earnings Per Share Ttm:-$1.40

Revenue & Cash Per Share (2)

Sales Per Share Ttm:11.67

Operating Cash Flow Per Share:$0.04

Book Value & Capital (2)

Book Value Per Share:$8.52

Cash Per Share:6.40

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.50x

Working Capital Turnover Ttm:1.47x

Receivables Management (2)

Receivables Turnover Ttm:8.48x

Days Sales Outstanding Ttm:43.02

Inventory Management (2)

Inventory Turnover Ttm:4.40x

Days Inventory Outstanding Ttm:82.93

Payables & Cash Cycle (2)

Days Payable Outstanding:41.28

Cash Conversion Cycle:84.66

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:100.00

Quality Score:50.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (1)

-$119.60M

Damodaran Growth Analysis (2)

Reinvestment Rate:9.9%

Fundamental Growth Rate (g):-5.2%

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):-4.6%

Net Income Growth Rate (Linear):-50.0%

Operating Income Growth Rate (Linear):-50.0%

Cash Flow Growth Rates (1)

Operating Cash Flow Growth Rate (Linear):-12.2%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):-29.5%

Book Value Growth Rate (Linear):11.7%

C. Company Profile & Context

Corporate Information (6)

Symbol:METCZ

Company Name:Ramaco Resources, Inc.

Sector:Materials

Industry:Mining

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:medium

Volume Category:N/A

Share Structure (3)

Shares Outstanding:44.16M

Shares Outstanding Basic:44.16M

Shares Outstanding Diluted:44.82K

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-26 05:37:50 UTC

Data Timestamp:2026-08-26T05:37:50.354797