COMP <GO>

NC vs METCB // EV/EBITDA & P/E VALUATION

NACCO Industries Inc. (NYSE) VS. Ramaco Resources Inc. (Class B) (NASDAQ) • 15-METRIC TALLY: NC 5 — METCB 1

■ METRIC PARITY

LAST: $35.73 (+2.06%) • MKT CAP: $269.6M

valuation

3.5x

LAST: $4.25 (-4.06%) • MKT CAP: $270.7M

valuation

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

INSTITUTIONAL METRIC	NC	METCB	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	13.90%	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	4.60%	-35.00%	+39.60	NC	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	3.5x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	0.85%	0.73%	+0.12	NC	/fcf-yield <GO>
Operating Margin	7.90%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	6.30%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	16.60%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	2.72%	1.60%	+1.12	NC	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	2.30	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	6/9	4/9	+2.00	NC	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	46.8	42.7	+4.06	NC	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	12.9x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$269.6M	$270.7M	-$1.0M	METCB	/market-cap <GO>

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

FISCAL YEAR	NC REV	METCB REV	NC GROSS %	METCB GROSS %	NC FCF	METCB FCF
FY 2025	$277.2M	$0	13.9%	—	$2.3M	$2.0M
FY 2024	$237.7M	$0	—	—	-$32.4M	$112.7M
FY 2023	$214.8M	$0	—	—	$54.5M	$161.0M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

NC // BETA —

METCB // BETA —