AMR vs HCC: Alpha Metallurgical Resources and Warrior Met Coal compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Warrior Met Coal is the larger company, worth $4.9B, about 2.1 times Alpha Metallurgical Resources.
- Warrior Met Coal grew revenue faster over the last year (+71.3% vs -10.4%).
- Warrior Met Coal keeps more of each dollar of revenue as operating profit (13.6% vs -2.2%).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AMR | HCC |
|---|---|---|
| Market cap | $2.3B | $4.9B |
| Share price | $181.57 | $93.07 |
| Revenue (last fiscal year) | $2.1B | $1.3B |
| Free cash flow (last fiscal year) | $18M | — |
| Revenue growth, last year | -10.4% | +71.3% |
| Revenue growth per year, last 5 fiscal years | -1.5% | +5.5% |
| Operating margin | -2.2% | 13.6% |
| Net margin | -2.2% | 13.1% |
| Return on equity | -3.1% | 9.6% |
| P/E (trailing) | — | 35.6x |
| Price / free cash flow | 130.1x | — |
| EV / EBITDA | 21.5x | 10.9x |
| FCF growth the price implies | 30.0% | — |
| Dividend yield | — | 0.34% |
| Debt / equity | 0.51x | 0.27x |
| Fundamental grade | D | B |
| Superinvestors holding it | 3 | 6 |
| Insider purchases, last 12 months | 10 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Alpha Metallurgical Resources
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.3B | $92M | 15.9% |
| 2022 | $4.1B | $1.3B | 38.6% |
| 2023 | $3.5B | $606M | 25.0% |
| 2024 | $2.9B | $381M | 7.7% |
| 2025 | $2.1B | $18M | -2.9% |
Warrior Met Coal
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.1B | $294M | 23.0% |
| 2022 | $1.7B | $637M | 46.1% |
| 2023 | $1.7B | — | 32.3% |
| 2024 | $1.5B | — | 16.7% |
| 2025 | $1.3B | — | 3.5% |
Where the revenue comes from
Alpha Metallurgical Resources · by segments, 2020
Met$1.3B89%
CAPP - Thermal$149M11%
Warrior Met Coal · by segments, 2025
Mining$1.3B97%
All other$33M3%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AMR in InvestinglyQuestions
Which is bigger, Alpha Metallurgical Resources or Warrior Met Coal?
Warrior Met Coal (HCC), at $4.9B against $2.3B.
Which grows faster, AMR or HCC?
Warrior Met Coal: revenue grew +71.3% over the last year, against -10.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.