Warrior Met Coal Inc
NYSE: HCC · BASIC MATERIALS · COKING COAL
Updated 2026-06-05
Warrior Met Coal Inc (HCC) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $-131.82M | $-49.88M | $434.51M | $559.40M | $532.81M | $112.63M | $351.54M | $841.90M | $701.11M | $367.45M | $229.25M |
| Capital expenditures | $64.97M | $16.95M | $92.63M | $98.69M | $107.28M | $87.49M | $57.89M | $208.74M | $491.67M | $457.22M | $320.26M |
| Depreciation | $123.63M | $80.36M | $75.41M | $97.21M | $97.33M | $118.09M | $-58.47M | $3.17M | $2.09M | $159.42M | $1.56M |
| Stock-based comp | $4.03M | $899000.00 | $4.18M | $6.41M | $5.82M | $7.60M | $9.37M | $17.62M | $18.21M | $22.07M | $19.95M |
| Free cash flow | $-196.79M | $-66.84M | $341.89M | $460.70M | $425.54M | $25.14M | $293.65M | $633.16M | $209.43M | $-89.77M | $-91.02M |
| Investing cash flow | $-64.25M | $-36.31M | $-92.63M | $-107.63M | $-134.21M | $-108.19M | $-71.15M | $-255.14M | $-527.21M | $-538.00M | $-405.15M |
| Financing cash flow | $-147.15M | $186.49M | $-458.28M | $-281.63M | $-411.62M | $14.10M | $-96.47M | $-153.12M | $-265.18M | $-68.51M | $-15.38M |
| Dividends paid | $6.90M | $6.90M | $796.90M | $360.63M | $240.39M | $10.39M | $10.46M | $79.67M | $61.08M | $43.82M | $17.82M |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | $-116.39M | $170.14M | $-13.02M | $18.53M | $183.92M | — | — | — | — |
Frequently asked questions
What is Warrior Met Coal Inc's revenue?
Warrior Met Coal Inc's trailing twelve-month revenue is $1.47B, and consensus projects about $2.58B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is HCC?
In its most recent fiscal year, HCC ran a gross margin of 8.49%, an operating margin of 3.48%, and a net margin of 4.35%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does HCC generate?
HCC produced $-91.02M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is HCC's balance sheet healthy?
HCC holds $299.96M in cash and equivalents against $154.25M in long-term debt, on $2.14B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.