COMP <GO>

METC vs AREC // EV/EBITDA & P/E VALUATION

Ramaco Resources Inc. (Class A) (NASDAQ) VS. American Resources Corporation (Class A) (NASDAQ) • 15-METRIC TALLY: METC 3 — AREC 1

■ METRIC PARITY

LAST: $7.35 (-2.00%) • MKT CAP: $468.1M

valuation

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LAST: $1.27 (+4.51%) • MKT CAP: $136.4M

valuation

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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (METC VS. AREC) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	METC	AREC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	-35.00%	-14.00%	-21.00	AREC	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	0.42%	—	—	TIE	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.93%	0.00%	+0.93	METC	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	0.20	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	4/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	34.4	34.0	+0.38	METC	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$468.1M	$136.4M	$331.7M	METC	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	METC REV	AREC REV	METC GROSS %	AREC GROSS %	METC FCF	AREC FCF
FY 2025	$0	$0	—	—	$2.0M	—
FY 2024	$0	$34.1K	—	—	$112.7M	-$22.3M
FY 2023	$0	$11.8M	—	—	$161.0M	-$19.5M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

METC // BETA —

AREC // BETA —