Alpha Metallurgical Resources (AMR) financial statements
Alpha Metallurgical Resources reported revenue of $2.1B in fiscal 2025, up 3.3% a year over 8 years.
Net income was -$62M and the operating margin -2.9%, against 11.1% in 2017.
Free cash flow was $18M, and the company returned $415,000 in dividends.
The diluted share count rose 21% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Alpha Metallurgical Resources's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B | $2.0B | $2.0B | $1.4B | $2.3B | $4.1B | $3.5B | $2.9B | $2.1B |
| Cost of revenue | $1.3B | $1.7B | $1.7B | $1.3B | $1.7B | $2.3B | $2.4B | $2.5B | $1.9B |
| Gross profit | $313M | $360M | $328M | $132M | $575M | $1.8B | $1.1B | $495M | $198M |
| Selling, general and admin | $67M | $59M | $79M | $57M | $64M | $72M | $82M | $74M | $60M |
| Operating income | $182M | $194M | -$169M | -$171M | $359M | $1.6B | $863M | $228M | -$61M |
| Interest expense | $36M | $39M | $68M | $75M | $70M | $22M | $7M | $4M | $3M |
| Pre-tax income | $106M | $137M | -$273M | -$244M | $292M | $1.6B | $845M | $211M | -$87M |
| Income tax | -$68M | -$165M | -$53M | -$2M | $3M | $106M | $124M | $23M | -$26M |
| Net income | $155M | $299M | -$316M | -$447M | $289M | $1.4B | $722M | $188M | -$62M |
| EPS (diluted) | $14.35 | $25.54 | -$16.82 | -$24.42 | $15.30 | $79.49 | $49.30 | $14.28 | -$4.75 |
| Diluted shares | 11M | 12M | 19M | 18M | 19M | 18M | 15M | 13M | 13M |
| Gross margin | 19.1% | 17.8% | 16.4% | 9.3% | 25.5% | 44.1% | 31.8% | 16.8% | 9.3% |
| Operating margin | 11.1% | 9.6% | -8.5% | -12.1% | 15.9% | 38.6% | 25.0% | 7.7% | -2.9% |
| Net margin | 9.4% | 14.8% | -15.8% | -31.6% | 12.8% | 35.4% | 20.9% | 6.4% | -2.9% |
Balance sheet
Fiscal years, from Alpha Metallurgical Resources's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $142M | $234M | $213M | $139M | $81M | $348M | $268M | $482M | $416M |
| Receivables | $127M | $293M | $224M | $146M | $489M | $407M | $510M | $362M | $279M |
| Inventory | $70M | $122M | $151M | $108M | $129M | $201M | $231M | $169M | $193M |
| Total current assets | $463M | $830M | $711M | $510M | $748M | $1.1B | $1.0B | $1.0B | $918M |
| Property, plant and equipment | $180M | $700M | $583M | $364M | $362M | $443M | $589M | $635M | $622M |
| Goodwill | $0 | $96M | $0 | — | $0 | $11M | $11M | $11M | $11M |
| Total assets | $837M | $2.7B | $2.3B | $1.7B | $1.9B | $2.3B | $2.4B | $2.4B | $2.3B |
| Total current liabilities | $242M | $355M | $315M | $259M | $296M | $403M | $310M | $251M | $206M |
| Long-term debt | $362M | $545M | $564M | $554M | $446M | $8M | $7M | $3M | $10M |
| Total liabilities | $744M | $1.7B | $1.6B | $1.5B | $1.3B | $883M | $832M | $789M | $735M |
| Shareholders' equity | $93M | $1.1B | $696M | $200M | $547M | $1.4B | $1.6B | $1.6B | $1.5B |
| Net debt | $220M | $312M | $352M | $414M | $364M | -$294M | -$261M | -$479M | -$356M |
Cash flow
Fiscal years, from Alpha Metallurgical Resources's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $314M | $158M | $132M | $129M | $175M | $1.5B | $851M | $580M | $145M |
| Capital spending | $83M | $82M | $192M | $154M | $83M | $164M | $245M | $199M | $127M |
| Free cash flow | $231M | $76M | -$61M | -$25M | $92M | $1.3B | $606M | $381M | $18M |
| Stock-based compensation | $20M | $13M | $12M | $5M | $5M | $7M | $19M | $12M | $14M |
| Dividends paid | $101M | $0 | $0 | $0 | $0 | $13M | $113M | $3M | $415,000 |
| Share buybacks (net) | -$50M | -$20M | -$38M | -$209,000 | -$786,000 | -$522M | — | — | — |
| Net borrowing | $26M | $66M | -$8M | -$19M | -$119M | -$451M | -$2M | -$2M | -$2M |
| Free cash flow margin | 14.1% | 3.8% | -3.0% | -1.8% | 4.1% | 32.2% | 17.5% | 12.9% | 0.8% |
| Dividends per share | $9.35 | — | — | — | — | $0.73 | $7.72 | $0.23 | $0.03 |
Questions
What was Alpha Metallurgical Resources's revenue in 2025?
$2.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does Alpha Metallurgical Resources generate?
$18M in fiscal 2025 (operating cash flow minus capital spending).
From Alpha Metallurgical Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.