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Side-by-side financial comparison of CMB.TECH NV (CMBT) and WARRIOR MET COAL, INC. (HCC). Click either name above to swap in a different company.
CMB.TECH NV is the larger business by last-quarter revenue ($592.8M vs $384.0M, roughly 1.5× WARRIOR MET COAL, INC.). CMB.TECH NV runs the higher net margin — 32.3% vs 6.0%, a 26.3% gap on every dollar of revenue. On growth, WARRIOR MET COAL, INC. posted the faster year-over-year revenue change (29.1% vs -34.6%).
CMB.TECH, before October 2024 known as Euronav, is a crude oil tanker transport company, which consists of VLCCs, Suezmaxes and FSOs.
Warrior Met Coal, Inc. (ticker HCC) is a U.S.-headquartered mining enterprise that produces and distributes high-grade metallurgical coal, a key raw material for steel production. It serves steel manufacturers and industrial clients across core markets including North America, Europe, and Asia.
CMBT vs HCC — Head-to-Head
Income Statement — Q4 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $592.8M | $384.0M |
| Net Profit | $191.2M | $23.0M |
| Gross Margin | — | 29.5% |
| Operating Margin | 46.4% | 9.0% |
| Net Margin | 32.3% | 6.0% |
| Revenue YoY | -34.6% | 29.1% |
| Net Profit YoY | -63.3% | 1919.5% |
| EPS (diluted) | $1.01 | $0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $384.0M | ||
| Q3 25 | — | $328.6M | ||
| Q2 25 | — | $297.5M | ||
| Q1 25 | — | $299.9M | ||
| Q4 24 | $592.8M | $297.5M | ||
| Q3 24 | — | $327.7M | ||
| Q2 24 | — | $396.5M | ||
| Q1 24 | — | $503.5M |
| Q4 25 | — | $23.0M | ||
| Q3 25 | — | $36.6M | ||
| Q2 25 | — | $5.6M | ||
| Q1 25 | — | $-8.2M | ||
| Q4 24 | $191.2M | $1.1M | ||
| Q3 24 | — | $41.8M | ||
| Q2 24 | — | $70.7M | ||
| Q1 24 | — | $137.0M |
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 27.1% | ||
| Q2 25 | — | 23.9% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 23.1% | ||
| Q3 24 | — | 29.3% | ||
| Q2 24 | — | 34.1% | ||
| Q1 24 | — | 43.3% |
| Q4 25 | — | 9.0% | ||
| Q3 25 | — | 6.3% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | 46.4% | -1.4% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 17.9% | ||
| Q1 24 | — | 29.6% |
| Q4 25 | — | 6.0% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | -2.7% | ||
| Q4 24 | 32.3% | 0.4% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 17.8% | ||
| Q1 24 | — | 27.2% |
| Q4 25 | — | $0.43 | ||
| Q3 25 | — | $0.70 | ||
| Q2 25 | — | $0.11 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | $1.01 | $0.02 | ||
| Q3 24 | — | $0.80 | ||
| Q2 24 | — | $1.35 | ||
| Q1 24 | — | $2.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $38.9M | $300.0M |
| Total DebtLower is stronger | $2.6B | $154.3M |
| Stockholders' EquityBook value | $1.2B | $2.1B |
| Total Assets | $3.9B | $2.8B |
| Debt / EquityLower = less leverage | 2.20× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $300.0M | ||
| Q3 25 | — | $336.3M | ||
| Q2 25 | — | $383.3M | ||
| Q1 25 | — | $454.9M | ||
| Q4 24 | $38.9M | $491.5M | ||
| Q3 24 | — | $583.2M | ||
| Q2 24 | — | $709.0M | ||
| Q1 24 | — | $693.9M |
| Q4 25 | — | $154.3M | ||
| Q3 25 | — | $154.1M | ||
| Q2 25 | — | $153.9M | ||
| Q1 25 | — | $153.8M | ||
| Q4 24 | $2.6B | $153.6M | ||
| Q3 24 | — | $153.5M | ||
| Q2 24 | — | $153.3M | ||
| Q1 24 | — | $153.2M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.0B |
| Q4 25 | — | $2.8B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $3.9B | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.5B |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | 2.20× | 0.07× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.08× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $204.4M | $76.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.07× | 3.31× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $76.1M | ||
| Q3 25 | — | $104.7M | ||
| Q2 25 | — | $37.5M | ||
| Q1 25 | — | $10.9M | ||
| Q4 24 | $204.4M | $54.2M | ||
| Q3 24 | — | $62.2M | ||
| Q2 24 | — | $147.0M | ||
| Q1 24 | — | $104.1M |
| Q4 25 | — | 3.31× | ||
| Q3 25 | — | 2.86× | ||
| Q2 25 | — | 6.70× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.07× | 47.68× | ||
| Q3 24 | — | 1.49× | ||
| Q2 24 | — | 2.08× | ||
| Q1 24 | — | 0.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMBT
Segment breakdown not available.
HCC
| Mining Segment | $373.6M | 97% |
| Other | $10.4M | 3% |
