Alpha Metallurgical Resources, Inc.

AMR

Alpha Metallurgical Resources, Inc., a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company provides metallurgical coal products. It operates nineteen active mines and eight active coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc. and changed its name to Alpha Metallurgical Resources, Inc.

Country: United StatesPrice: $166.05Market Cap: $2.1B

Company Profile

Industry: Coal
SIC Sector: Coal Mining
Size: Mid Cap($2.1B)
Revenue: $2.1B-28.0% YoY
Net Income: $61.7M-132.9% YoY

Financial Snapshot

Operating Margin-2.9%
Return on Equity-4.0%
Debt / Equity0.00
Current Ratio4.47
EPS (Diluted)$-4.75−71.0%
Shares Retired1.6% / 1.0% 2y

Similar Companies

HCCWARRIOR MET COAL, INC.
$5.2B
CNRCore Natural Resources, Inc.
$4.8B
ARLPALLIANCE RESOURCE PARTNERS LP
$3.3B
BTUPEABODY ENERGY CORP
$3.1B

Shareholder Return

Fiscal 2025

Retired 1.6% of shares last year, 1.0% over two.

Buybacks
—
Dividends
$415.0K

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY22
419.5% = 401.6% + 3.6%
FY23
−38.0% = −50.2% + 24.4%
FY24
−71.0% = −74.0% + 11.5%
Earnings Fewer shares More shares

The two parts do not sum exactly to the total — the difference is the cross-term, plus preferred capital where the company has any. It is left visible rather than distributed into the other two.

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Annual data (10-K) · Last 5 years

MetricFY 2025FY 2024FY 2023FY 2022FY 2021
Market Cap$2.1B$2.4Best.$5.2Best.$2.5Best.$1.1Best.
Revenue$2.1B↓28%$3.0B↓15%$3.5B↓15%$4.1B↑82%$2.3B
Operating Income-$61.4M↓127%$227.9M↓74%$863.1M↓45%$1.6B↑340%$359.2M
Net Income-$61.7M↓133%$187.6M↓74%$722.0M↓50%$1.4B↑402%$288.8M
EPS (Diluted)$-4.75↓133%$14.28↓71%$49.30↓38%$79.49↑420%$15.30
Gross Margin9.6%↓44%17.1%↓47%32.1%↓27%44.3%↑72%25.7%
Operating Margin-2.9%↓137%7.7%↓69%24.9%↓35%38.5%↑142%15.9%
ROE-4.0%↓135%11.4%↓75%45.9%↓55%101.3%↑92%52.8%
Total Debt$3.9M↑116%$1.8M↓65%$5.1M↓18%$6.2M↓99%$454.7M
Shareholders' Equity$1.5B↓6%$1.6B↑5%$1.6B↑10%$1.4B↑161%$546.9M
Current Ratio4.47↑8%4.13↑22%3.38↑22%2.77↑10%2.53
Debt / Equity0.00↑130%0.00↓67%0.00↓25%0.00↓99%0.83
Operating Cash Flow$144.9M↓75%$579.9M↓32%$851.2M↓43%$1.5B↑748%$174.9M
Free Cash Flow$17.8M↓95%$381.1M↓37%$605.8M↓54%$1.3B↑1340%$91.6M
Scored from 10-K1d ago
MetricMarks

Risk-Aware Value

Akre

Three-Legged Stool

Druckenmiller

Macro-Enhanced Growth

Spier

Value Checklist

Pabrai

Dhandho Framework

Munger

Quality Focus

Ackman

Activist Value

Piotroski

F-Score

Greenblatt

Magic Formula

Lynch

GARP

Buffett

Quality Compounder

Graham

Defensive Value

VerdictBUYPASSPASSBUYBUYHOLDFAILPASSNot rankedFAILPASSHOLD
Score
Analysis
Intrinsic ValueN/AN/AN/A
Margin of Safety+34.6%+87.2%-174.3%+1.2%-19.0%-1035.8%-1347.7%-37.6%+21.6%N/AN/AN/A
Data As Of10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)10-K (2026-08-15)

Where They Agree

  • Growth

    All 5 investors flag AMR's growth

    Positive Net Income Frequency6/9 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    EPS Growth AccelerationLatest: -133.3%, Prior: -71.0%
    ✗DruckenmillerAccelerating EPS growth
    Revenue Growth RateLatest: -28.0%, Prior: -14.8%
    ✗DruckenmillerRevenue growth accelerating
    3yr Median Revenue Growth-15.4%
    ✗Ackman>= 5%
    Show 5 more metrics ▾
    Positive EPS Growth Frequency2/5 years with positive EPS growth
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    P/E / EPS Growth Rate
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthInv: 14.0% vs Rev: -28.0%
    ✗LynchInventory growth < Revenue growth
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth

Where They Disagree

  • Profitability

    1 of 11 pass — Marks, Akre, Druckenmiller +7 more object

    Margin of SafetyP/B=1.3x
    ✗SpierP/E < 15 AND P/B < 2.0✓PabraiP/B < 1.5 or P/E < 15
    Discount to Intrinsic Value44.7% (IV=$294.15 vs Price=$162.65)
    ✓Marks>= 20% below intrinsic value
    Positive Net Income Frequency6/9 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Return on Equity17.8% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Show 19 more metrics ▾
    EPS Growth AccelerationLatest: -133.3%, Prior: -71.0%
    ✗DruckenmillerAccelerating EPS growth
    Operating Income / Revenue-2.9%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-4.0%
    ✗Ackman>= 15%
    Net Income / Total Assets-2.70%
    ✗PiotroskiROA > 0
    ROA Change YoY7.69% -> -2.70% (delta: -10.40%)
    ✗PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=6.35%, ROA=-2.70%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY17.1% -> 9.6%
    ✗PiotroskiImproved YoY
    EBIT / Enterprise Value-3.6%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-3.6%, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE-4.0%
    ✗Lynch> 15%
    Net Income Positive (10+ years)6/10 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (5-yr avg)41.5%
    ✓Buffett> 15% (5-yr avg)
    Operating Margin (10-yr trend)-2.9% (latest)
    ✓BuffettStable or rising over 10 years
    Free Cash Flow Proxy$-14.3M
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness0.41x
    ✗Buffett$1 retained -> > $1 market value created
    Positive EPS (10 years)6/10 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
  • Debt & Leverage

    5 of 8 pass — Marks, Piotroski and Buffett object

    Interest Coverage & Debt/EBITDAIC=-32.9x, D/EBITDA=0.0x
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Debt Levels0
    ✓AkreDebt/Equity < 0.3✓MungerDebt/Equity < 0.5
    Total Debt / Shareholders Equity0
    ✓Ackman<= 1.0
    LT Debt / Total Assets Change0.07% -> 0.17%
    ✗PiotroskiDecreased YoY
    Show 4 more metrics ▾
    Total Debt / Equity0
    ✓Lynch< 0.33
    Cash - Long-term Debt$362.1M
    ✓LynchPositive preferred
    Debt/Equity & Interest CoverageD/E: 0.00, IC: -32.9x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    LT Debt vs Net Current AssetsLT Debt $3.9M vs NCA $712.8M
    ✓GrahamLT Debt <= Net Current Assets
  • Valuation

    3 of 9 pass — Spier, Pabrai, Munger +3 more object

    P/B or P/E vs. Historical AverageP/B=1.3x
    ✓MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic Value44.7% (IV=$294.15 vs Price=$162.65)
    ✓Marks>= 20% below intrinsic value
    Price vs. 200-day MAQualitative
    ✓DruckenmillerPrice above 200-day moving average
    Margin of SafetyP/B=1.3x
    ✗SpierP/E < 15 AND P/B < 2.0
    Show 9 more metrics ▾
    P/E or FCF YieldFCF Yield=0.9%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    Valuation ReasonablenessOE Yield=-0.7%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    Price / FCF per Share117.2x
    ✗Ackman<= 25
    EBIT / Enterprise Value-3.6%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-3.6%, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    P/E / EPS Growth Rate
    ✗Lynch< 1.0 (ideally < 0.5)
    Price / 3-yr avg EPS8.3x
    ✓Graham<= 15x
    Price-to-Book Ratio1.3x
    ✓Graham<= 1.5x
    P/E x P/B11.20
    ✓Graham<= 22.5
  • Cash Flow

    2 of 6 pass — Pabrai, Ackman, Lynch +1 more object

    FCF Positive8/9 years FCF positive
    ✓MarksPositive FCF in majority of recent years
    P/E or FCF YieldFCF Yield=0.9%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    (OCF - CapEx) / Market Cap0.9%
    ✗Ackman>= 4%
    Price / FCF per Share117.2x
    ✗Ackman<= 25
    Show 4 more metrics ▾
    Operating Cash Flow$144.9M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=6.35%, ROA=-2.70%
    ✓PiotroskiCFO/Assets > ROA
    FCF Positive and Growing$17.8M
    ✗LynchPositive and growing
    Free Cash Flow Proxy$-14.3M
    ✗BuffettPositive and growing
  • Efficiency

    2 of 6 pass — Akre, Munger, Piotroski +1 more object

    ROIC (high and growing)3/8 years ROIC > 15% (latest: -3.1%)
    ✓AkreROIC > 15% for 3+ years
    Reinvestment Rate x ROICN/A (non-positive net income)
    ✗AkreReinvestment Rate * ROIC > 10%
    Return on Invested Capital-3.1%
    ✗Munger> 15%
    Current Ratio Change YoY4.13 -> 4.47
    ✓PiotroskiIncreased YoY
    Show 5 more metrics ▾
    Revenue / Total Assets Change YoY1.21x -> 0.93x
    ✗PiotroskiImproved YoY
    EBIT / (NWC + Net Fixed Assets)
    ✗Greenblatt> 25%
    ROIC (3-5 yr avg)40.9%
    ✓Buffett> 10%
    ROIC - WACC+30.9%
    ✓BuffettPositive (WACC = 10%)
    Current Ratio4.47
    ✓Graham>= 2.0
  • Verdicts

    Split decision: 4 PASS · 3 BUY · 2 HOLD · 2 FAIL

    Overall verdict
    ✓MarksBUY (6/8)✓AkrePASS (4/7)✓DruckenmillerPASS (4/7)✓SpierBUY (7/8)✓PabraiBUY (7/8)•MungerHOLD (5/7)✗AckmanFAIL (3/9)✓PiotroskiPASS (F-Score 4)•GreenblattNot ranked✗LynchFAIL (2/7)✓BuffettPASS (4/9)•GrahamHOLD (6/9)
  • Valuation models

    Models split on AMR at $166.05 — fair values range $11.47–$1300.03

    Marks fair value$253.78
    ✓Marks+34.6% margin vs $166.05
    Akre fair value$1300.03
    ✓Akre+87.2% margin vs $166.05
    Druckenmiller fair value$60.53
    ✗Druckenmiller-174.3% margin vs $166.05
    Spier fair value$168.03
    ✓Spier+1.2% margin vs $166.05
    Show 5 more metrics ▾
    Pabrai fair value$139.48
    ✗Pabrai-19.0% margin vs $166.05
    Munger fair value$14.62
    ✗Munger-1035.8% margin vs $166.05
    Ackman fair value$11.47
    ✗Ackman-1347.7% margin vs $166.05
    Piotroski fair value$120.69
    ✗Piotroski-37.6% margin vs $166.05
    Greenblatt fair value$211.72
    ✓Greenblatt+21.6% margin vs $166.05

Historical Score Timeline

Industry Peers

Similar companies in Coal

AMR vs Peers — Financial Grading

Revenue$2.1BMedian
Net Income$61.7MBottom 25%
ROE-4.0%Median
D/E0.00Top 25%
Op. Margin-2.9%Median
Curr. Ratio4.47Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroski
WARRIOR MET COAL, INC.HCC$5.2B$98.20$1.3B$57.0M2.7%0.073.5%3.193/95/93/70/3F-Score 4
Core Natural Resources, Inc.CNR$4.8B$95.94$4.2B$153.2M-4.2%0.13-4.4%1.603/94/92/70/3F-Score 3
ALLIANCE RESOURCE PARTNERS LPARLP$3.3B$25.42$2.2B$311.2M16.9%0.2417.6%2.104/97/95/71/3F-Score 4
PEABODY ENERGY CORPBTU$3.1B$25.48$3.9B$42.5M-1.2%—-2.1%1.853/94/90/70/3F-Score 4
NATURAL RESOURCE PARTNERS LPNRP$1.4B$104.56$207.3M$136.4M21.6%0.0769.6%1.853/95/96/70/3F-Score 5
Ramaco Resources, Inc.METCZ$1.1B$25.35$536.6M$51.4M-10.6%0.97-10.4%5.463/94/91/70/3F-Score 3
NACCO INDUSTRIES INCNC$321.8M$42.64$277.2M$17.6M4.1%0.237.9%3.095/92/94/70/3F-Score 6
Coronado Global Resources Inc.CODQL$310.2M$0.18$1.9B$432.1M-66.5%1.06-17.0%1.552/92/90/70/3F-Score 2