HIGHBuilt-inGeographic
63%
export markets
“10-K Item 1: '37% of our revenue was from sales into North American markets and 63% of our revenue was from sales into export markets'”
METCB · Concentration risk · 10-K extracted
Ramaco Resources (METCB) concentration risks
Updated
The most significant concentration Ramaco Resources discloses is export markets at 63%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Ramaco Resources’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH3
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inCommodity
metallurgical coal
“10-K Item 1A: 'Substantially all of our coal production is comprised of metallurgical coal, which commands a significant price premium'”
HIGHOutside partyCustomer
steel producers
“10-K Item 1A: 'Substantially all of the metallurgical coal that we produce is sold to steel producers.'”
MEDIUMOutside partyCustomer
34%
top three customers
“10-K Item 1: 'sales to three customers accounted for approximately 34% of total revenue. No other customer accounted for 10% or more'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Ramaco's revenue mix is heavily weighted toward export markets, which account for approximately 63% of revenue — a structural exposure tied to global metallurgical coal pricing rather than any single counterparty. The company's production is itself concentrated: substantially all of its output is metallurgical coal, a product that commands a price premium but ties results to that single commodity's cycle. On the demand side, substantially all of the coal produced is sold to steel producers, and the top three customers represent approximately 34% of total revenue. These two customer-facing exposures are dependency-type risks, though the size band on the customer count is moderate rather than extreme. Taken together, the structural exposures — export mix and single-commodity focus — are the larger and more macro-cyclical drivers; they move with metallurgical coal prices and global steel demand rather than the fortunes of any one buyer. The customer-concentration exposures are more idiosyncratic but smaller in disclosed size, so a loss of one top customer would matter but not by itself redefine the thesis. The verdict is most sensitive to the metallurgical coal cycle and export demand, with customer turnover a secondary but real risk.
For the engine’s reasoning on METCB’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Coking Coal
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AMR | Alpha Metallurgical Resources, | 3 | 1 | 1 | 5 |
| METC | Ramaco Resources, Inc. | 3 | 1 | 0 | 4 |
| METCB● | Ramaco Resources, Inc. | 3 | 1 | 0 | 4 |
| HCC | Warrior Met Coal, Inc. | 2 | 1 | 0 | 3 |
| SXC | SunCoke Energy, Inc. | 2 | 0 | 0 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.