Does RAMACO RESOURCES, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores RAMACO RESOURCES, INC. (METC) 33.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 10, returns on capital 58, balance-sheet safety 24, capital discipline 44.

How has METC's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 33.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

RAMACO RESOURCES, INC.

METC · Materials · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power10

Median gross margin 21.2% over 10y, variable.

Returns on capital58

Median ROIC 13.8%, above the 9% hurdle in 56% of years.

Balance-sheet safety24

Net debt/EBITDA 2.2x, interest coverage 0x.

Capital discipline44

Owner earnings trend unclear, share count n/a.

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): $39.8M
Est. intrinsic value / share: —
Recent price: $11.66
Discount to value: No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Fundamentals

There's no normalized fundamentals series for METC yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale33.8 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — METC has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Materials context

#133 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

#131VAL Valaris Limited34.0 out of 100, No moatNo moat
#132AUMN Golden Minerals Company34.0 out of 100, No moatNo moat
#134PRPL PURPLE INNOVATION, INC.33.7 out of 100, No moatNo moat
#135FF FUTUREFUEL CORP.33.0 out of 100, No moatNo moat

Compare METC with its nearest peers →All Materials companies on the Index →

Common questions about METC

Does RAMACO RESOURCES, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores RAMACO RESOURCES, INC. (METC) 33.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 10, returns on capital 58, balance-sheet safety 24, capital discipline 44.
How has METC's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 33.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell METC. See the disclaimer.