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Side-by-side financial comparison of WARRIOR MET COAL, INC. (HCC) and Metallus Inc. (MTUS). Click either name above to swap in a different company.
WARRIOR MET COAL, INC. is the larger business by last-quarter revenue ($384.0M vs $267.3M, roughly 1.4× Metallus Inc.). WARRIOR MET COAL, INC. runs the higher net margin — 6.0% vs -5.3%, a 11.3% gap on every dollar of revenue. On growth, WARRIOR MET COAL, INC. posted the faster year-over-year revenue change (29.1% vs 11.1%). Over the past eight quarters, Metallus Inc.'s revenue compounded faster (-8.8% CAGR vs -12.7%).
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.
HCC vs MTUS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $384.0M | $267.3M |
| Net Profit | $23.0M | $-14.3M |
| Gross Margin | 29.5% | 2.2% |
| Operating Margin | 9.0% | -7.7% |
| Net Margin | 6.0% | -5.3% |
| Revenue YoY | 29.1% | 11.1% |
| Net Profit YoY | 1919.5% | 33.2% |
| EPS (diluted) | $0.43 | $-0.34 |
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 | $267.3M | ||
| Q3 25 | $328.6M | $305.9M | ||
| Q2 25 | $297.5M | $304.6M | ||
| Q1 25 | $299.9M | $280.5M | ||
| Q4 24 | $297.5M | $240.5M | ||
| Q3 24 | $327.7M | $227.2M | ||
| Q2 24 | $396.5M | $294.7M | ||
| Q1 24 | $503.5M | $321.6M |
| Q4 25 | $23.0M | $-14.3M | ||
| Q3 25 | $36.6M | $8.1M | ||
| Q2 25 | $5.6M | $3.7M | ||
| Q1 25 | $-8.2M | $1.3M | ||
| Q4 24 | $1.1M | $-21.4M | ||
| Q3 24 | $41.8M | $-5.9M | ||
| Q2 24 | $70.7M | $4.6M | ||
| Q1 24 | $137.0M | $24.0M |
| Q4 25 | 29.5% | 2.2% | ||
| Q3 25 | 27.1% | 11.4% | ||
| Q2 25 | 23.9% | 10.6% | ||
| Q1 25 | 18.1% | 7.8% | ||
| Q4 24 | 23.1% | 4.5% | ||
| Q3 24 | 29.3% | 5.3% | ||
| Q2 24 | 34.1% | 8.2% | ||
| Q1 24 | 43.3% | 15.7% |
| Q4 25 | 9.0% | -7.7% | ||
| Q3 25 | 6.3% | 3.6% | ||
| Q2 25 | 2.6% | 2.8% | ||
| Q1 25 | -5.8% | 1.0% | ||
| Q4 24 | -1.4% | -10.1% | ||
| Q3 24 | 11.9% | -3.1% | ||
| Q2 24 | 17.9% | 2.1% | ||
| Q1 24 | 29.6% | 9.3% |
| Q4 25 | 6.0% | -5.3% | ||
| Q3 25 | 11.1% | 2.6% | ||
| Q2 25 | 1.9% | 1.2% | ||
| Q1 25 | -2.7% | 0.5% | ||
| Q4 24 | 0.4% | -8.9% | ||
| Q3 24 | 12.7% | -2.6% | ||
| Q2 24 | 17.8% | 1.6% | ||
| Q1 24 | 27.2% | 7.5% |
| Q4 25 | $0.43 | $-0.34 | ||
| Q3 25 | $0.70 | $0.19 | ||
| Q2 25 | $0.11 | $0.09 | ||
| Q1 25 | $-0.16 | $0.03 | ||
| Q4 24 | $0.02 | $-0.46 | ||
| Q3 24 | $0.80 | $-0.13 | ||
| Q2 24 | $1.35 | $0.10 | ||
| Q1 24 | $2.62 | $0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $300.0M | $156.7M |
| Total DebtLower is stronger | $154.3M | — |
| Stockholders' EquityBook value | $2.1B | $686.0M |
| Total Assets | $2.8B | $1.1B |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $300.0M | $156.7M | ||
| Q3 25 | $336.3M | $191.5M | ||
| Q2 25 | $383.3M | $190.8M | ||
| Q1 25 | $454.9M | $180.3M | ||
| Q4 24 | $491.5M | $240.7M | ||
| Q3 24 | $583.2M | $254.6M | ||
| Q2 24 | $709.0M | $272.8M | ||
| Q1 24 | $693.9M | $278.1M |
| Q4 25 | $154.3M | — | ||
| Q3 25 | $154.1M | $0 | ||
| Q2 25 | $153.9M | $0 | ||
| Q1 25 | $153.8M | $5.4M | ||
| Q4 24 | $153.6M | $5.4M | ||
| Q3 24 | $153.5M | $13.2M | ||
| Q2 24 | $153.3M | $13.2M | ||
| Q1 24 | $153.2M | $13.2M |
| Q4 25 | $2.1B | $686.0M | ||
| Q3 25 | $2.1B | $697.7M | ||
| Q2 25 | $2.1B | $690.0M | ||
| Q1 25 | $2.1B | $686.1M | ||
| Q4 24 | $2.1B | $690.5M | ||
| Q3 24 | $2.1B | $712.7M | ||
| Q2 24 | $2.0B | $736.3M | ||
| Q1 24 | $2.0B | $739.3M |
| Q4 25 | $2.8B | $1.1B | ||
| Q3 25 | $2.7B | $1.2B | ||
| Q2 25 | $2.6B | $1.1B | ||
| Q1 25 | $2.6B | $1.1B | ||
| Q4 24 | $2.6B | $1.1B | ||
| Q3 24 | $2.6B | $1.1B | ||
| Q2 24 | $2.6B | $1.1B | ||
| Q1 24 | $2.5B | $1.2B |
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.07× | 0.00× | ||
| Q2 25 | 0.07× | 0.00× | ||
| Q1 25 | 0.07× | 0.01× | ||
| Q4 24 | 0.07× | 0.01× | ||
| Q3 24 | 0.07× | 0.02× | ||
| Q2 24 | 0.07× | 0.02× | ||
| Q1 24 | 0.08× | 0.02× |
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 | $76.1M | $-1.9M |
| Free Cash FlowOCF − Capex | — | $-37.2M |
| FCF MarginFCF / Revenue | — | -13.9% |
| Capex IntensityCapex / Revenue | — | 13.2% |
| Cash ConversionOCF / Net Profit | 3.31× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.1M | $-1.9M | ||
| Q3 25 | $104.7M | $22.0M | ||
| Q2 25 | $37.5M | $34.8M | ||
| Q1 25 | $10.9M | $-38.9M | ||
| Q4 24 | $54.2M | $13.9M | ||
| Q3 24 | $62.2M | $-15.3M | ||
| Q2 24 | $147.0M | $8.3M | ||
| Q1 24 | $104.1M | $33.4M |
| Q4 25 | — | $-37.2M | ||
| Q3 25 | — | $-6.4M | ||
| Q2 25 | — | $17.0M | ||
| Q1 25 | — | $-66.4M | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | — | $-32.9M | ||
| Q2 24 | — | $-5.8M | ||
| Q1 24 | — | $16.0M |
| Q4 25 | — | -13.9% | ||
| Q3 25 | — | -2.1% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | -23.7% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | — | -14.5% | ||
| Q2 24 | — | -2.0% | ||
| Q1 24 | — | 5.0% |
| Q4 25 | — | 13.2% | ||
| Q3 25 | — | 9.3% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 9.8% | ||
| Q4 24 | — | 6.3% | ||
| Q3 24 | — | 7.7% | ||
| Q2 24 | — | 4.8% | ||
| Q1 24 | — | 5.4% |
| Q4 25 | 3.31× | — | ||
| Q3 25 | 2.86× | 2.72× | ||
| Q2 25 | 6.70× | 9.41× | ||
| Q1 25 | — | -29.92× | ||
| Q4 24 | 47.68× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 2.08× | 1.80× | ||
| Q1 24 | 0.76× | 1.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCC
| Mining Segment | $373.6M | 97% |
| Other | $10.4M | 3% |
MTUS
| Industrial Market Sector | $95.3M | 36% |
| Manufactured Components | $67.8M | 25% |
| Aerospace And Defense | $39.6M | 15% |
| Seamless Mechanical Tubing | $31.3M | 12% |
| Energy Market Sector | $18.3M | 7% |
| Other | $11.3M | 4% |
| Other Market Sector | $3.7M | 1% |
