Ramaco Resources, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-51.4M | $11.2M | $82.3M | $116.0M | $39.8M | $-4.9M | $24.9M | $25.1M |
| Depreciation & Amortization | $68.2M | $65.6M | $54.3M | $41.2M | $26.2M | $20.9M | $19.5M | $12.4M |
| Depreciation | $43.3M | $37.3M | $30.9M | $24.1M | $17.9M | $17.1M | $14.2M | $9.8M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $17.6M | $17.5M | $12.9M | $8.2M | $5.3M | $4.1M | $4.1M | $2.6M |
| Net Cash from Operating Activities | $2.0M | $112.7M | $161.0M | $187.9M | $53.3M | $13.3M | $42.4M | $36.2M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | $82.9M | $123.0M | $29.5M | $24.8M | $45.7M | $48.1M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-83.7M | $-70.8M | $-72.2M | $-145.7M | $-59.6M | $-24.8M | $-45.7M | $-42.9M |
| Financing Activities | ||||||||
| Dividends Paid | $4.3M | $24.6M | $25.8M | $20.0M | $20.0M | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $489.0M | $-50.8M | $-82.5M | $-28.5M | $22.4M | $11.3M | $2.8M | $7.9M |
| Net Change in Cash | — | — | — | — | — | — | — | $1.0M |
| Free Cash Flow | — | — | $78.1M | $64.9M | $23.9M | $-11.4M | $-3.3M | $-12.0M |