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Side-by-side financial comparison of HighPeak Energy, Inc. (HPK) and Ramaco Resources, Inc. (METC). Click either name above to swap in a different company.
HighPeak Energy, Inc. is the larger business by last-quarter revenue ($216.6M vs $121.0M, roughly 1.8× Ramaco Resources, Inc.). Ramaco Resources, Inc. runs the higher net margin — -11.0% vs -11.6%, a 0.6% gap on every dollar of revenue. On growth, HighPeak Energy, Inc. posted the faster year-over-year revenue change (-23.3% vs -27.7%). Over the past eight quarters, HighPeak Energy, Inc.'s revenue compounded faster (-13.2% CAGR vs -22.7%).
Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. The company serves over 7 million customers in the eastern United States. In 2024 it ranked as the 141st largest company in the United States – its highest-ever placement on the Fortune 500 list.
Ramaco Resources, Inc. is a U.S.-based mining company focused on high-grade metallurgical coal production. It operates mining assets across the Appalachian region, supplying products to global steel manufacturing and industrial clients, with core operations centered on sustainable low-cost metallurgical coal extraction and distribution.
HPK vs METC — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $216.6M | $121.0M |
| Net Profit | $-25.2M | $-13.3M |
| Gross Margin | — | 15.8% |
| Operating Margin | -7.6% | -12.0% |
| Net Margin | -11.6% | -11.0% |
| Revenue YoY | -23.3% | -27.7% |
| Net Profit YoY | -380.7% | -5468.2% |
| EPS (diluted) | $-0.16 | — |
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 | $216.6M | — | ||
| Q3 25 | $188.9M | $121.0M | ||
| Q2 25 | $200.4M | $153.0M | ||
| Q1 25 | $257.4M | $134.7M | ||
| Q4 24 | $282.6M | $170.9M | ||
| Q3 24 | $271.6M | $167.4M | ||
| Q2 24 | $275.3M | $155.3M | ||
| Q1 24 | $287.8M | $172.7M |
| Q4 25 | $-25.2M | — | ||
| Q3 25 | $-18.3M | $-13.3M | ||
| Q2 25 | $26.2M | $-14.0M | ||
| Q1 25 | $36.3M | $-9.5M | ||
| Q4 24 | $9.0M | $3.9M | ||
| Q3 24 | $49.9M | $-239.0K | ||
| Q2 24 | $29.7M | $5.5M | ||
| Q1 24 | $6.4M | $2.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 15.8% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 15.2% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | — | 19.5% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 19.1% |
| Q4 25 | -7.6% | — | ||
| Q3 25 | 17.3% | -12.0% | ||
| Q2 25 | 21.7% | -9.1% | ||
| Q1 25 | 35.1% | -8.9% | ||
| Q4 24 | 26.1% | 3.7% | ||
| Q3 24 | 27.0% | 1.0% | ||
| Q2 24 | 31.7% | 3.5% | ||
| Q1 24 | 35.8% | 1.9% |
| Q4 25 | -11.6% | — | ||
| Q3 25 | -9.7% | -11.0% | ||
| Q2 25 | 13.1% | -9.1% | ||
| Q1 25 | 14.1% | -7.0% | ||
| Q4 24 | 3.2% | 2.3% | ||
| Q3 24 | 18.4% | -0.1% | ||
| Q2 24 | 10.8% | 3.6% | ||
| Q1 24 | 2.2% | 1.2% |
| Q4 25 | $-0.16 | — | ||
| Q3 25 | $-0.15 | — | ||
| Q2 25 | $0.19 | — | ||
| Q1 25 | $0.26 | — | ||
| Q4 24 | $0.06 | $0.06 | ||
| Q3 24 | $0.35 | $-0.03 | ||
| Q2 24 | $0.21 | $0.08 | ||
| Q1 24 | $0.05 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $162.1M | $193.8M |
| Total DebtLower is stronger | $1.2B | $116.3M |
| Stockholders' EquityBook value | $1.6B | $526.9M |
| Total Assets | $3.2B | $849.7M |
| Debt / EquityLower = less leverage | 0.75× | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $162.1M | — | ||
| Q3 25 | $164.9M | $193.8M | ||
| Q2 25 | $21.9M | $28.1M | ||
| Q1 25 | $51.6M | $43.5M | ||
| Q4 24 | $86.6M | $33.0M | ||
| Q3 24 | $135.6M | $22.9M | ||
| Q2 24 | $157.9M | $27.6M | ||
| Q1 24 | $173.4M | $30.5M |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $116.3M | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | $88.2M | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | $526.9M | ||
| Q2 25 | $1.7B | $347.4M | ||
| Q1 25 | $1.6B | $355.2M | ||
| Q4 24 | $1.6B | $362.8M | ||
| Q3 24 | $1.6B | $361.8M | ||
| Q2 24 | $1.6B | $366.1M | ||
| Q1 24 | $1.5B | $372.3M |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | $849.7M | ||
| Q2 25 | $3.1B | $674.6M | ||
| Q1 25 | $3.1B | $685.7M | ||
| Q4 24 | $3.1B | $674.7M | ||
| Q3 24 | $3.1B | $645.4M | ||
| Q2 24 | $3.1B | $659.2M | ||
| Q1 24 | $3.1B | $674.0M |
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.73× | 0.22× | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.63× | — | ||
| Q4 24 | 0.65× | 0.24× | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.70× | — | ||
| Q1 24 | 0.73× | — |
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 | $93.1M | $-1.4M |
| Free Cash FlowOCF − Capex | — | $-17.5M |
| FCF MarginFCF / Revenue | — | -14.5% |
| Capex IntensityCapex / Revenue | — | 13.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $93.1M | — | ||
| Q3 25 | $120.2M | $-1.4M | ||
| Q2 25 | $141.2M | $-4.3M | ||
| Q1 25 | $157.1M | $26.0M | ||
| Q4 24 | $139.5M | $15.7M | ||
| Q3 24 | $177.1M | $37.4M | ||
| Q2 24 | $202.3M | $34.4M | ||
| Q1 24 | $171.4M | $25.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-17.5M | ||
| Q2 25 | — | $-19.8M | ||
| Q1 25 | — | $7.6M | ||
| Q4 24 | — | $5.1M | ||
| Q3 24 | — | $25.6M | ||
| Q2 24 | — | $20.3M | ||
| Q1 24 | — | $6.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | -14.5% | ||
| Q2 25 | — | -13.0% | ||
| Q1 25 | — | 5.6% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 15.3% | ||
| Q2 24 | — | 13.1% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | — | 10.2% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 6.2% | ||
| Q3 24 | — | 7.0% | ||
| Q2 24 | — | 9.1% | ||
| Q1 24 | — | 10.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.39× | — | ||
| Q1 25 | 4.32× | — | ||
| Q4 24 | 15.53× | 4.06× | ||
| Q3 24 | 3.55× | — | ||
| Q2 24 | 6.81× | 6.21× | ||
| Q1 24 | 26.63× | 12.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HPK
| Crude Oil Sales | $152.1M | 70% |
| Natural Gas And NGL Sales | $60.8M | 28% |
METC
| Export Coal Revenues | $73.0M | 60% |
| Domestic Coal Revenues | $48.0M | 40% |
