Tearsheet

Alpha Metallurgical Resources (AMR)

Market Price (12/4/2025): $182.99 | Market Cap: $2.4 Bil
Sector: Materials | Industry: Steel

Alpha Metallurgical Resources (AMR)

Market Price (12/4/2025): $182.99
Market Cap: $2.4 Bil
Sector: Materials
Industry: Steel

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -21%	Weak multi-year price returns 2Y Excs Rtn is -85%, 3Y Excs Rtn is -61%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -30 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.3%
1	Megatrend and thematic drivers Megatrends include Industrial & Infrastructure Development. Themes include Steel Industry Raw Materials, Heavy Industrial Materials, and Global Infrastructure Build-out.	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -33%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -17%, Rev Chg QQuarterly Revenue Change % is -22%
2			Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 54%
3			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.3%

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -21%
1	Megatrend and thematic drivers Megatrends include Industrial & Infrastructure Development. Themes include Steel Industry Raw Materials, Heavy Industrial Materials, and Global Infrastructure Build-out.
2	Weak multi-year price returns 2Y Excs Rtn is -85%, 3Y Excs Rtn is -61%
3	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
4	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -30 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.3%
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -33%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -17%, Rev Chg QQuarterly Revenue Change % is -22%
6	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 54%
7	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.3%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$182.99	$200.12	$338.92	$144.92	$57.96
Market Cap CYE ($ Bil)	2.4	2.6	4.5	2.3	1.1
Total Debt ($ Bil)	0.0	0.0	0.0	0.0	0.4
Total Cash ($ Bil)	0.5	0.5	0.3	0.3	0.1
Enterprise Value ($ Bil)	1.9	2.6	4.5	2.3	1.5
Valuation Ratios
P/S TTM	1.0	0.9	1.4	0.6	0.5
P/EBIT TTM	-41.7	12.1	5.6	1.6	3.1
P/E TTM	-46.4	13.9	6.6	1.8	3.9
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0	0.0	0.0

	12/4/25	2024	2023
Share Price CYE	$182.99	$200.12	$338.92
Market Cap CYE ($ Bil)	2.4	2.6	4.5
Total Debt ($ Bil)	0.0	0.0	0.0
Total Cash ($ Bil)	0.5	0.5	0.3
Enterprise Value ($ Bil)	1.9	2.6	4.5
Valuation Ratios
P/S TTM	1.0	0.9	1.4
P/EBIT TTM	-41.7	12.1	5.6
P/E TTM	-46.4	13.9	6.6
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0

	AMR	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	2.2
Rev Chg Q	-21.6%	7.1%
Rev Chg LTM	-32.5%	6.1%
Rev Chg 3Y Avg	-17.5%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	-0.0
Op Mgn LTM	-1.3%	18.8%
CFO/Rev LTM	8.2%	20.5%
Net Inc Mgn	-2.1%	13.1%
VALUATION	HIGH
P/S	1.0	3.2
P/CFO	11.9	15.8
P/FCF	52.3	20.5
P/E	-46.4	23.5
STABILITY	VERY GOOD
Debt/Equity	0.00	0.20
Cash/Assets	0.20	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Metallurgical Coal Tons Sold	3.9 million	6302025	Link
Net Realized Pricing per Ton - Met Segment	$119.43	6302025	Link
Percentage of 2025 Metallurgical Coal Committed and Priced	69%	7302025	Link
Average Price for 2025 Committed and Priced Metallurgical Coal	$127.37 per ton	7302025	Link
Percentage of 2025 Thermal Coal Committed and Priced	100%	7302025	Link
Average Price for 2025 Committed and Priced Thermal Coal	$80.52 per ton	7302025	Link
Cost of Coal Sales Guidance (2025)	$101.00 - $107.00 per ton	8082025	Link

Recent
11/06/2025	Earnings Release	Rev: $526 Mil (A) vs. $538 Mil (E) EPS: -0.42 (A) vs. $-0.35 (E)
Upcoming
2/27/2026	Earnings Release	Rev: - EPS: -

AMR Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

1. Significant insider buying demonstrated strong confidence in the company's future prospects. In September 2025, Director Kenneth S. Courtis purchased 53,000 shares for over $8.19 million on September 15 and 55,000 shares for over $7.84 million on September 12, indicating a substantial vote of confidence from a corporate insider.

2. Alpha Metallurgical Resources achieved back-to-back record quarterly cost performance. The company reported a non-GAAP cost per ton of $97.27 in the third quarter of 2025, representing an achievement of strong operational efficiency that was highlighted by the CEO.

Stock Movement Drivers

Fundamental Drivers

The 30.6% change in AMR stock from 9/3/2025 to 12/3/2025 was primarily driven by a 38.7% change in the company's P/S Multiple.

	9032025	12032025	Change
Stock Price ($)	138.40	180.79	30.63%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2371.47	2226.36	-6.12%
P/S Multiple	0.76	1.06	38.69%
Shares Outstanding (Mil)	13.06	13.02	0.32%
Cumulative Contribution			30.63%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
AMR	30.6%
Market (SPY)	6.2%	37.4%
Sector (XLB)	-2.2%	18.8%

Fundamental Drivers

The 62.7% change in AMR stock from 6/4/2025 to 12/3/2025 was primarily driven by a 91.4% change in the company's P/S Multiple.

	6042025	12032025	Change
Stock Price ($)	111.13	180.79	62.68%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2625.17	2226.36	-15.19%
P/S Multiple	0.55	1.06	91.35%
Shares Outstanding (Mil)	13.05	13.02	0.25%
Cumulative Contribution			62.68%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
AMR	62.7%
Market (SPY)	15.1%	30.4%
Sector (XLB)	1.6%	28.3%

Fundamental Drivers

The -25.4% change in AMR stock from 12/3/2024 to 12/3/2025 was primarily driven by a -32.5% change in the company's Total Revenues ($ Mil).

	12032024	12032025	Change
Stock Price ($)	242.47	180.79	-25.44%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3299.93	2226.36	-32.53%
P/S Multiple	0.96	1.06	10.50%
Shares Outstanding (Mil)	13.02	13.02	0.02%
Cumulative Contribution			-25.44%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
AMR	-25.4%
Market (SPY)	14.3%	27.3%
Sector (XLB)	-4.3%	33.4%

Fundamental Drivers

The 12.3% change in AMR stock from 12/4/2022 to 12/3/2025 was primarily driven by a 57.5% change in the company's P/S Multiple.

	12042022	12032025	Change
Stock Price ($)	160.93	180.79	12.34%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4106.46	2226.36	-45.78%
P/S Multiple	0.67	1.06	57.53%
Shares Outstanding (Mil)	17.12	13.02	23.97%
Cumulative Contribution			5.88%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
AMR	-38.6%
Market (SPY)	53.2%	25.8%
Sector (XLB)	11.8%	29.1%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
AMR Return	26%	437%	150%	134%	-41%	-19%	1785%
Peers Return	3%	52%	26%	37%	3%	35%	278%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
AMR Win Rate	58%	67%	75%	67%	25%	50%
Peers Win Rate	50%	58%	58%	52%	60%	60%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
AMR Max Drawdown	-77%	-5%	-2%	-8%	-44%	-50%
Peers Max Drawdown	-47%	-12%	-17%	-8%	-15%	-15%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HCC, NWPX, FRD, NUE, STLD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	AMR	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-40.2%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	67.1%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	240 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-76.8%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	331.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	183 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-95.7%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	2226.4%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	11 days	120 days

Compare to HCC, NWPX, FRD, NUE, STLD

In The Past

Alpha Metallurgical Resources's stock fell -40.2% during the 2022 Inflation Shock from a high on 6/7/2022. A -40.2% loss requires a 67.1% gain to breakeven.

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About Alpha Metallurgical Resources (AMR)

Alpha Metallurgical Resources, Inc., a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. As of December 31, 2021, it operated twenty active mines and eight coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc. and changed its name to Alpha Metallurgical Resources, Inc. in February 2021. Alpha Metallurgical Resources, Inc. was incorporated in 2016 and is headquartered in Bristol, Tennessee.

AI Generated Analysis | Feedback

Freeport-McMoRan for metallurgical coal.

Peabody Energy for metallurgical coal.

Albemarle for the steel industry's key ingredient.

AI Generated Analysis | Feedback

Metallurgical Coal: A specialized type of coal critical for producing coke, which is an essential raw material in the blast furnace steelmaking process.
Thermal Coal: A type of coal primarily used as a fuel source in power generation plants to produce electricity.

AI Generated Analysis | Feedback

Alpha Metallurgical Resources (AMR) primarily sells its metallurgical coal to other companies, specifically large industrial enterprises.

Its major customers are global steel producers. While Alpha Metallurgical Resources does not publicly name its specific major customers in its SEC filings, it does disclose customer concentration. According to its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed on February 22, 2024, regarding its customer base:

In 2023, two customers, which are subsidiaries of the same parent company, each accounted for greater than 10% of Alpha Metallurgical Resources’ total revenues.
Collectively, sales to its top ten customers accounted for approximately 49% of its total revenues in 2023.

Therefore, while specific company names and their symbols are not publicly disclosed by AMR for these major customers, they are identified as significant global steel manufacturers.

AI Generated Analysis | Feedback

CSX Corporation (CSX)
Norfolk Southern Corporation (NSC)

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Andy Eidson, Chief Executive Officer and Director
Mr. Eidson was appointed Chief Executive Officer in January 2023. His previous roles include President, and President and Chief Financial Officer. He also served as Executive Vice President and Chief Financial Officer from July 2016 and as interim co-chief executive officer for Contura Energy from May 2019 to July 2019. Before joining Alpha in July 2010, he held financial positions at PricewaterhouseCoopers LLP, Eastman Chemical Company, and Penn Virginia Resource Partners, where he led mergers and acquisitions projects for the coal segment and managed the budgeting and planning process. He was Executive Vice President and Chief Financial Officer of Alpha Natural Resources, Inc. from March 2016. Alpha Natural Resources, Inc., the predecessor to Alpha Metallurgical Resources, was established with involvement from First Reserve Stockholders.

Todd Munsey, Executive Vice President and Chief Financial Officer
Mr. Munsey has served as Executive Vice President and Chief Financial Officer since August 2022. Prior to this, he was Senior Vice President and Controller from July 2016, and Senior Vice President for Tax and Financial Reporting at Alpha Natural Resources from April 2015. Before joining Alpha in July 2007, Mr. Munsey worked as a Senior Tax Analyst at PricewaterhouseCoopers LLP. Alpha Natural Resources, Inc., the predecessor to Alpha Metallurgical Resources, was established with involvement from First Reserve Stockholders.

Jason E. Whitehead, President and Chief Operating Officer
Mr. Whitehead has been the Chief Operating Officer and President of Alpha Metallurgical Resources since 2023, having previously served as an Executive Vice President of the company from 2019 to 2023.

Daniel E. Horn, Executive Vice President and Chief Commercial Officer
Mr. Horn has served as Chief Commercial Officer since January 2022 and Executive Vice President of Sales since December 2020. Prior to these roles, he was Senior Vice President of metallurgical coal sales for the company and president of Contura Coal Sales, LLC from November 2019.

Mark M. Manno, Executive Vice President, General Counsel and Secretary
Mr. Manno was appointed Executive Vice President, General Counsel and Secretary, effective June 1, 2024. In this role, he oversees the company's legal, land, and safety departments. He previously served as an Executive VP/Chief Procurement Officer/Secretary at Contura Energy, Inc. and as Senior VP/CIO at Alpha Natural Resources, Inc.

AI Generated Analysis | Feedback

The accelerating global shift towards "green steel" production methodologies, particularly those leveraging hydrogen-based direct reduced iron (H2-DRI) and electric arc furnaces (EAFs). These technologies significantly reduce or aim to eliminate the reliance on metallurgical coal for primary steelmaking, directly impacting the long-term demand for Alpha Metallurgical Resources' core product.

AI Generated Analysis | Feedback

Alpha Metallurgical Resources (AMR) primarily focuses on the extraction and supply of metallurgical coal, which is essential for the steel industry. The company also produces thermal coal and provides industry services related to equipment repairs, road construction, and logistics.

Addressable Markets:

Metallurgical Coal (Global Market):
The global metallurgical coal market exhibits varying size estimations across different reports. In 2024, some estimates placed the market size at approximately USD 15.13 billion, while others indicated it was valued at USD 94.1 billion or USD 72.63 billion. The market is projected to grow significantly, with forecasts suggesting an increase of USD 99.6 billion between 2024 and 2029 at a compound annual growth rate (CAGR) of 4.8%. Other projections anticipate the market to reach USD 18.29 billion by 2032 with a CAGR of 2.4% from 2025 to 2032, or USD 100.02 billion by 2035 with a CAGR of 2.95% from 2025 to 2035.
Metallurgical Coal (North American Market):
The North American metallurgical coal market was valued at USD 23.72 billion in 2024 and is expected to reach USD 27.27 billion by 2030, growing at a CAGR of 2.35% during this period.
Thermal Coal and Other Services:
While Alpha Metallurgical Resources produces thermal coal and offers services such as equipment repairs, road construction, and logistics, specific addressable market sizes for these products and services were not quantifiable from the available information.

AI Generated Analysis | Feedback

Alpha Metallurgical Resources (AMR) is expected to drive future revenue growth over the next two to three years through a combination of increased production, favorable market dynamics, and strategic contracting.

Increased Production Volume from New and Existing Mines: Alpha Metallurgical Resources anticipates an increase in coal production, particularly with the Kingston Wildcat mine projected to reach a full annual run rate of approximately 1 million tons in 2026. This expansion of output from both new and existing operations is expected to directly contribute to higher sales volumes.
Improved Metallurgical Coal Market Conditions and Pricing: Although the metallurgical coal market has faced recent challenges, a rebound in global steel demand and a subsequent increase in metallurgical coal prices would significantly boost AMR's revenue. The company's revenue is closely tied to global steel demand. Analysts have forecast an annual revenue growth rate of 8.7% for Alpha Metallurgical Resources.
Successful Domestic Contract Negotiations: Alpha Metallurgical Resources is actively engaged in negotiations for domestic tons for 2025 and is looking ahead to 2026 domestic contract negotiations. Securing favorable terms and volumes in these contracts will be crucial for revenue stability and growth.
Enhanced Operational Efficiency and Productivity: The company has demonstrated a strong focus on cost reductions and operational efficiencies, including achieving record low costs of coal sales and increasing tons per man-hour. While primarily impacting profitability, higher productivity and "getting more tons out" directly contribute to an increased volume of coal available for sale, indirectly driving revenue growth.

AI Generated Analysis | Feedback

Share Repurchases

Alpha Metallurgical Resources' board approved a $1.5 billion share buyback program.
As of October 31, 2025, approximately $1.1 billion had been used to repurchase 6.8 million shares.
The company had approximately $400 million remaining under its share repurchase authorization as of July 30, 2025, and plans to restart the program opportunistically after a pause due to market softness.

Capital Expenditures

Alpha Metallurgical Resources' capital expenditures were $245.373 million in 2023.
Capital expenditures for the full year 2024 were $198.848 million.
For the nine months ending September 30, 2025, capital expenditures were $98.196 million.

Better Bets than Alpha Metallurgical Resources (AMR)

	AMR	Better Performance than AMR
Metric	Value	INDUSTRY: Steel
Rev Chg LTM	-32.5%	CRS (2.4%), RS (-0.9%), STLD (-1.5%), CMC (-1.6%), NUE (-5.8%)
Rev Chg 3Y Avg	-17.5%	CRS (14.6%), CMC (-4.3%), RS (-7.0%), STLD (-8.0%), NUE (-10.4%)
Op Mgn LTM	-1.3%	CRS (19.4%), STLD (8.6%), RS (7.1%), NUE (7.0%), CMC (6.7%)
CFO/Rev LTM	8.2%	HCC (16.9%), CRS (15.2%), NUE (10.2%), CMC (9.2%), STLD (8.6%)
FCF/Rev LTM	1.9%	CRS (9.3%), NWPX (9.3%), RS (4.8%), CMC (4.0%), SXC (2.5%)
Total Yield	-2.2%	STLD (6.9%), RS (6.7%), NUE (6.1%), CRS (3.7%), CMC (2.6%)
P/S	1.0	CLF (0.3), SXC (0.4), WS (0.5), MTUS (0.6), CMC (0.8)
P/Op Inc	-71.1

	AMR	Better Performance than AMR
Metric	Value	SECTOR: Materials
Rev Chg LTM	-32.5%	AEM (35.2%), NEM (26.6%), SCCO (12.7%), LIN (1.3%), SHW (1.0%)
Rev Chg 3Y Avg	-17.5%	AEM (26.0%), NEM (23.9%), SCCO (7.1%), SHW (2.4%), LIN (0.6%)
Op Mgn LTM	-1.3%	SCCO (50.3%), AEM (49.4%), NEM (43.5%), LIN (26.9%), SHW (15.8%)
CFO/Rev LTM	8.2%	AEM (55.2%), NEM (42.9%), SCCO (37.4%), LIN (29.8%), SHW (14.2%)
FCF/Rev LTM	1.9%	AEM (34.5%), NEM (28.5%), SCCO (28.2%), LIN (15.2%), SHW (10.4%)
Total Yield	-2.2%	NEM (9.0%), SCCO (6.1%), AEM (4.9%), LIN (4.2%), SHW (3.9%)
P/S	1.0	DOW (0.4), LYB (0.4), SW (0.7), CCK (0.9), IP (1.0)
P/Op Inc	-71.1

	AMR	Better Performance than AMR
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-32.5%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	-17.5%	NVDA (92.0%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	-1.3%	NVDA (58.1%), MSFT (46.3%), GOOGL (32.2%), AAPL (31.9%), AMZN (11.4%)
CFO/Rev LTM	8.2%	MSFT (50.0%), NVDA (46.6%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	1.9%	NVDA (43.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%), AMZN (2.0%)
Total Yield	-2.2%	GOOGL (4.6%), MSFT (3.4%), AMZN (3.0%), AAPL (3.0%), NVDA (2.3%)
P/S	1.0	CVS (0.2), MCK (0.2), UNH (0.7), DELL (0.8), CMCSA (0.9)
P/Op Inc	-71.1

		Best Bets In Materials Sector
	AMR
What You Pay
P/E	-45.9
P/EBIT	-41.2
What You Get
Rev Chg Q	-21.6%
Rev Chg LTM	-32.5%
Rev Chg 3Y Avg	-17.5%
FCF/Rev 3Y Avg	11.6%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.8%, and sharpe of 0.46

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Alpha Metallurgical Resources Earnings Notes
2	Is Alpha Metallurgical Resources Stock Built to Withstand More Downside?	Return
3	Better Bet Than AMR Stock: Pay Less Than Alpha Metallurgical Resources To Get More From CRS	Actionable
4	Why Alpha Metallurgical Resources Stock Moved: AMR Stock Has Gained 179% Since 2021 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
5	AMR Dip Buy Analysis
6	Alpha Metallurgical Resources (AMR) Valuation Ratios Comparison	Financials
7	Alpha Metallurgical Resources Total Shareholder Return (TSR): -40.8% in 2024 and 52.2% 3-yr compounded annual returns (above peer average)
8	Now Is Not The Time To Buy Alpha Metallurgical Resources Stock	Buy or Fear
9	Alpha Metallurgical Resources (AMR) Operating Cash Flow Comparison	Financials
10	Alpha Metallurgical Resources (AMR) Net Income Comparison	Financials
11	ARTICLES
12	Better Bet Than Alpha Metallurgical Resources Stock: Pay Less To Get More From CRS		August 13th, 2025

	Title
0	DASHBOARDS
1	Alpha Metallurgical Resources Earnings Notes
2	Is Alpha Metallurgical Resources Stock Built to Withstand More Downside?
3	Better Bet Than AMR Stock: Pay Less Than Alpha Metallurgical Resources To Get More From CRS
4	Why Alpha Metallurgical Resources Stock Moved: AMR Stock Has Gained 179% Since 2021 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
5	AMR Dip Buy Analysis
6	Alpha Metallurgical Resources (AMR) Valuation Ratios Comparison
7	Alpha Metallurgical Resources Total Shareholder Return (TSR): -40.8% in 2024 and 52.2% 3-yr compounded annual returns (above peer average)
8	Now Is Not The Time To Buy Alpha Metallurgical Resources Stock
9	Alpha Metallurgical Resources (AMR) Operating Cash Flow Comparison
10	Alpha Metallurgical Resources (AMR) Net Income Comparison
11	ARTICLES
12	Better Bet Than Alpha Metallurgical Resources Stock: Pay Less To Get More From CRS

Trade Ideas

Select past ideas related to AMR. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
DD_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	DD	DuPont de Nemours	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.1%	3.1%	-0.2%
CF_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	CF	CF Industries	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.5%	0.5%	-1.1%
HL_11212025_Quality_Momentum_RoomToRun_10%	11212025	HL	Hecla Mining	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	30.9%	30.9%	0.0%
CDE_11072025_Dip_Buyer_ValueBuy	11072025	CDE	Coeur Mining	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	12.7%	12.7%	-5.7%
ATR_10312025_Dip_Buyer_ValueBuy	10312025	ATR	AptarGroup	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.8%	4.8%	-2.5%
AMR_2282025_Dip_Buyer_High_CFO_Margins_ExInd_DE	02282025	AMR	Alpha Metallurgical Resources	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	8.5%	17.8%	-27.7%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
DD_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	DD	DuPont de Nemours	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.1%	3.1%	-0.2%
CF_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	CF	CF Industries	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.5%	0.5%	-1.1%
HL_11212025_Quality_Momentum_RoomToRun_10%	11212025	HL	Hecla Mining	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	30.9%	30.9%	0.0%
CDE_11072025_Dip_Buyer_ValueBuy	11072025	CDE	Coeur Mining	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	12.7%	12.7%	-5.7%
ATR_10312025_Dip_Buyer_ValueBuy	10312025	ATR	AptarGroup	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.8%	4.8%	-2.5%
AMR_2282025_Dip_Buyer_High_CFO_Margins_ExInd_DE	02282025	AMR	Alpha Metallurgical Resources	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	8.5%	17.8%	-27.7%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Alpha Metallurgical Resources

Peers to compare with:

Financials

	AMR	HCC	NWPX	FRD	NUE	STLD	Median
Name	Alpha Me.	Warrior .	NWPX Inf.	Friedman.	Nucor	Steel Dy.
Mkt Price	180.79	82.92	59.43	19.59	164.71	171.50	123.81
Mkt Cap	2.4	4.4	0.6	0.1	38.0	25.2	3.4
Rev LTM	2,226	1,224	520	465	30,806	17,635	1,725
Op Inc LTM	-30	7	48	11	2,143	1,519	30
FCF LTM	41	-159	48	11	-385	311	26
FCF 3Y Avg	380	49	22	25	3,115	1,018	214
CFO LTM	182	207	67	17	3,130	1,524	195
CFO 3Y Avg	581	472	44	34	5,842	2,562	526

Growth & Margins

	AMR	HCC	NWPX	FRD	NUE	STLD	Median
Name	Alpha Me.	Warrior .	NWPX Inf.	Friedman.	Nucor	Steel Dy.
Rev Chg LTM	-32.5%	-23.1%	7.6%	-5.8%	-5.8%	-1.5%	-5.8%
Rev Chg 3Y Avg	-17.5%	-11.8%	4.8%	8.6%	-10.4%	-8.0%	-9.2%
Rev Chg Q	-21.6%	0.3%	16.0%	17.7%	4.7%	11.2%	8.0%
QoQ Delta Rev Chg LTM	-6.1%	0.1%	4.2%	4.5%	1.2%	2.8%	2.0%
Op Mgn LTM	-1.3%	0.6%	9.3%	2.4%	7.0%	8.6%	4.7%
Op Mgn 3Y Avg	12.5%	19.3%	9.0%	2.9%	13.9%	13.7%	13.1%
QoQ Delta Op Mgn LTM	-0.4%	-1.5%	0.3%	1.8%	-0.0%	0.5%	0.2%
CFO/Rev LTM	8.2%	16.9%	13.0%	3.7%	10.2%	8.6%	9.4%
CFO/Rev 3Y Avg	18.4%	30.4%	9.0%	6.6%	17.0%	13.8%	15.4%
FCF/Rev LTM	1.9%	-13.0%	9.3%	2.5%	-1.2%	1.8%	1.8%
FCF/Rev 3Y Avg	11.6%	1.9%	4.4%	4.9%	8.7%	5.4%	5.1%

Valuation

	AMR	HCC	NWPX	FRD	NUE	STLD	Median
Name	Alpha Me.	Warrior .	NWPX Inf.	Friedman.	Nucor	Steel Dy.
Mkt Cap	2.4	4.4	0.6	0.1	38.0	25.2	3.4
P/S	1.0	2.7	1.0	0.2	1.0	1.2	1.0
P/EBIT	-41.2	116.9	10.6	8.2	13.7	13.8	12.1
P/E	-45.9	95.2	14.0	13.5	23.1	18.2	16.1
P/CFO	11.7	16.1	7.6	6.7	9.5	13.4	10.6
Total Yield	-2.2%	1.6%	7.2%	7.7%	6.1%	6.9%	6.5%
Dividend Yield	0.0%	0.5%	0.0%	0.2%	1.7%	1.4%	0.4%
FCF Yield 3Y Avg	11.7%	2.1%	4.9%	26.5%	7.7%	5.6%	6.6%
D/E	0.0	0.1	0.3	0.3	0.2	0.2	0.2
Net D/E	-0.2	-0.0	0.3	0.3	0.1	0.1	0.1

Returns

	AMR	HCC	NWPX	FRD	NUE	STLD	Median
Name	Alpha Me.	Warrior .	NWPX Inf.	Friedman.	Nucor	Steel Dy.
1M Rtn	-0.5%	19.3%	-7.0%	-12.4%	11.2%	10.0%	4.7%
3M Rtn	30.6%	49.0%	15.6%	-7.2%	13.9%	32.8%	23.1%
6M Rtn	62.7%	75.5%	49.2%	17.0%	36.3%	28.0%	42.8%
12M Rtn	-25.4%	19.5%	5.8%	24.5%	8.2%	21.6%	13.8%
3Y Rtn	12.3%	123.3%	60.7%	124.4%	11.6%	63.7%	62.2%
1M Excs Rtn	-0.5%	19.4%	-6.9%	-12.4%	11.2%	10.0%	4.7%
3M Excs Rtn	27.7%	45.2%	8.5%	-12.5%	8.8%	26.2%	17.5%
6M Excs Rtn	48.0%	60.8%	34.5%	2.3%	21.6%	13.3%	28.0%
12M Excs Rtn	-39.9%	5.0%	-7.5%	16.3%	-5.2%	6.4%	-0.1%
3Y Excs Rtn	-61.1%	80.6%	-10.6%	47.3%	-56.1%	1.5%	-4.6%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/28/2025	2/26/2024	2/23/2023	3/7/2022	3/15/2021	3/18/2020
Key Financials
Total Revenue	2,226	2,957	3,471	4,102	2,259	1,416	2,001
EBITDA	127	389	998	1,704	485	-8	110
Operating Income	-30	228	863	1,581	378	-96	19
Net Income	-47	188	722	1,449	289	-447	-316
EPS	-3.56	14.41	51.18	82.82	15.66	-24.42	-16.82
Growth Rates
Total Revenue Growth	-32.5%	-14.8%	-15.4%	81.6%	59.5%	-29.2%	-1.5%
EBITDA Growth	-78.4%	-61.1%	-41.4%	251.2%	6503.7%	-106.9%	-55.9%
Operating Income Growth	-107.0%	-73.6%	-45.4%	318.0%	495.7%	-600.3%	-92.2%
Net Income Growth	-112.7%	-74.0%	-50.2%	401.6%	164.6%	-41.3%	-205.7%
Margins
EBITDA Margin	5.7%	13.1%	28.7%	41.5%	21.5%	-0.5%	5.5%
Operating Income Margin	-1.3%	7.7%	24.9%	38.5%	16.7%	-6.7%	1.0%
Net Income Margin	-2.1%	6.3%	20.8%	35.3%	12.8%	-31.6%	-15.8%
Cash & Debt
Total Cash	458	482	268	348	81	139	213
Total Debt	5	6	10	11	449	583	593
Net Debt / (Cash)	-453	-476	-258	-337	367	443	380
Cash Flows
Net Cash from Operations	182	580	851	1,484	175	129	132
Free Cash from Operations	41	381	606	1,320	92	-25	-61
Returns to Shareholders
Dividends	0	3	113	13	-0	-0	-0
Share Repurchases	30	122	540	522	1	0	38

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/8/2025	5/9/2025	2/28/2025	11/1/2024	8/5/2024	5/6/2024	2/26/2024	11/2/2023	8/4/2023	5/8/2023	2/23/2023
Key Financials Quarterly
Total Revenue	527	550	532	617	672	804	864	960	742	858	911	823
Ebitda	37	41	1	49	45	110	185	251	149	251	347	242
Operating Income	-3	3	-40	10	5	71	142	213	117	218	315	206
Net Income	-6	-5	-34	-2	4	59	127	176	94	181	271	221
EPS	-0.42	-0.38	-2.60	-0.16	0.29	4.53	9.77	13.31	6.88	12.63	17.74	13.86
Key Financials TTM
Total Revenue TTM	2,226	2,371	2,625	2,957	3,300	3,370	3,424	3,471	3,335	3,463	3,941	4,102
Ebitda TTM	127	135	205	389	591	695	836	998	989	1,133	1,563	1,704
Operating Income TTM	-30	-22	46	228	431	543	690	863	856	998	1,433	1,581
Net Income TTM	-47	-37	27	188	366	456	578	722	767	926	1,318	1,449
Growth Rates Quarterly
Total Revenue Growth	-21.6%	-31.6%	-38.4%	-35.7%	-9.4%	-6.3%	-5.2%	16.6%	-14.7%	-35.8%	-15.0%	-0.6%
EBITDA Growth	-17.1%	-63.1%	-99.7%	-80.6%	-69.9%	-56.1%	-46.7%	3.6%	-49.0%	-63.1%	-28.9%	-21.8%
Operating Income Growth	-147.5%	-96.2%	-128.3%	-95.3%	-95.5%	-67.6%	-54.9%	3.5%	-54.9%	-66.6%	-32.0%	-26.3%
Net Income Growth	-245.0%	-108.4%	-126.7%	-101.2%	-95.9%	-67.5%	-53.1%	-20.2%	-62.9%	-68.4%	-32.5%	-14.3%
Margins Quarterly
EBITDA Margin	7.1%	7.4%	0.1%	7.9%	6.7%	13.7%	21.4%	26.1%	20.1%	29.3%	38.0%	29.4%
Operating Income Margin	-0.5%	0.5%	-7.6%	1.6%	0.8%	8.8%	16.4%	22.2%	15.8%	25.4%	34.5%	25.0%
Net Income Margin	-1.0%	-0.9%	-6.4%	-0.3%	0.6%	7.3%	14.7%	18.3%	12.6%	21.1%	29.7%	26.8%
Cash & Debt
Total Cash	458	449	448	482	485	336	269	268	296	312	223	348
Total Debt	5	6	5	6	7	9	9	10	11	11	12	11
Net Debt / (Cash)	-453	-443	-443	-476	-478	-328	-260	-258	-286	-301	-211	-337
Cash Flows Quarterly
FCF from Operations	51	53	22	56	189	138	196	199	157	317	177	185
Cash Flows TTM
FCF from Operations TTM	182	321	406	580	723	691	870	851	837	1,177	1,325	1,484
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	3	13	7	7	86	7
Share Repurchases	20	-0	5	5	-0	2	116	137	102	156	145	131
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-	-	-	-	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Met	3,421	4,024	2,176	1,264	1,711
All other	50	78	83	152	4
Central Appalachia - thermal					286
Total	3,471	4,102	2,259	1,416	2,001

Net Income by Segment

$ Mil	2024	2023
Met	740	1,647
All other	-19	-199
Total	722	1,449

Price Behavior

Price Behavior

Market Price	$180.79
Market Cap ($ Bil)	2.4
First Trading Date	04/28/2017
Distance from 52W High	-25.4%
	50 Days	200 Days
DMA Price	$163.77	$137.50
DMA Trend	down	up
Distance from DMA	10.4%	31.5%
	3M	1YR
Volatility	56.7%	59.4%
Downside Capture	163.08	132.92
Upside Capture	242.51	86.39
Correlation (SPY)	38.5%	27.5%

AMR Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.52	1.86	1.72	1.73	0.80	0.91
Up Beta	-2.61	0.12	0.32	0.52	0.50	0.56
Down Beta	3.63	1.76	2.55	1.61	0.82	1.03
Up Capture	233%	226%	181%	295%	66%	89%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	10	21	33	65	116	371
Down Capture	217%	232%	167%	183%	119%	104%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	20	29	59	130	376

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of AMR With Other Asset Classes (Last 1Y)
	AMR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-27.9%	-4.2%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	59.1%	20.1%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.33	-0.32	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		33.3%	27.1%	9.9%	21.3%	21.7%	20.7%

ETFs used for asset classes: Sector ETF = XLB, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of AMR With Other Asset Classes (Last 5Y)
	AMR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	90.0%	6.3%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	64.0%	18.9%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	1.27	0.24	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		34.7%	24.5%	11.1%	31.1%	17.5%	13.6%

Based On 10-Year Data

		Comparison of AMR With Other Asset Classes (Last 10Y)
	AMR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	41.3%	9.0%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	779.9%	20.8%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.45	0.39	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		1.2%	1.1%	-2.9%	0.8%	3.1%	0.4%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	1,334,512
Short Interest: % Change Since 10312025	-6.3%
Average Daily Volume	343,156
Days-to-Cover Short Interest	3.89
Basic Shares Quantity	13,015,413
Short % of Basic Shares	10.3%

Returns Analyses

	Title
0	Is Alpha Metallurgical Resources Stock Built to Withstand More Downside?

SEC Filings

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Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8082025	10-Q 6/30/2025
3312025	5092025	10-Q 3/31/2025
12312024	2282025	10-K 12/31/2024
9302024	11012024	10-Q 9/30/2024
6302024	8052024	10-Q 6/30/2024
3312024	5062024	10-Q 3/31/2024
12312023	2262024	10-K 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8042023	10-Q 6/30/2023
3312023	5082023	10-Q 3/31/2023
12312022	2232023	10-K 12/31/2022
9302022	11072022	10-Q 9/30/2022
6302022	8082022	10-Q 6/30/2022
3312022	5052022	10-Q 3/31/2022
12312021	3072022	10-K 12/31/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Whitehead Jason E.	President & COO	8142025	Sell	161.76	10,651	1,722,906	1,783,566	Form
1	Munsey Joshua Todd	Chief Financial Officer	8142025	Sell	157.00	2,135	335,195	701,162	Form
2	Courtis Kenneth S.		12172024	Sell	227.66	3,743	852,131	138,922,685	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Alpha Metallurgical Resources (AMR)

Market Price (12/4/2025): $182.99 | Market Cap: $2.4 BilSector: Materials | Industry: Steel

Alpha Metallurgical Resources (AMR)

Market Price (12/4/2025): $182.99Market Cap: $2.4 BilSector: MaterialsIndustry: Steel

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Market Price (12/4/2025): $182.99 | Market Cap: $2.4 Bil
Sector: Materials | Industry: Steel

Market Price (12/4/2025): $182.99
Market Cap: $2.4 Bil
Sector: Materials
Industry: Steel