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NACCO Industries, Inc.

NC Energy Thermal Coal

NACCO Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $277.2 million, up 16.6% from fiscal 2024.

Revenue
+5.06%
EPS
−19.1%
Free cash flow
−58.0%
Total debt
−89.7%

Quarter to September 2026, against a year earlier

33.10 0.78 −2.30%
Market cap
$251.2M
P/E
16.8×
Fwd P/E
3.8×
Dividend yield
3.11%
F-score
6/9
Altman Z
2.54
Beneish M
−2.64
Dividend safety
52/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.38
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 3 — — — — — — — —
Insider Ownership 49.53%

Capital & Financial Ratios $m

Size
Market Cap 251.15
Revenue ttm 282.36
Net income ttm 17.57
Free cash flow ttm 40.58
Net debt Q (48.29)
Valuation
P/E 16.80
Forward P/E 3.78
Price / sales 0.89
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.56
Financial health
Current ratio Q 3.16 (at or above 1.5: strong)
Debt / equity Q 0.02 (at or below 0.5: strong)
Interest coverage Q 4.21
Growth
Revenue growth Q +5.06% (above 0%: growing)
Operating income growth Q +36.59% (above 0%: growing)
EPS, this year —
EPS, next year A —
Revenue, next year A +26.14% (at or above 10%: strong)
EPS, past 5 yrs +2.28%
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, against a ten-year median of 1.1×; over the ten years it ranged from 0.2× in 2016 to 2.6× in 2017.
P/E against its own 10 years 92.29%
10-year low 10-year high
P/S against its own 10 years 14.19%
10-year low 10-year high
P/B against its own 10 years 18.59%
10-year low 10-year high
EV/Sales against its own 10 years 54.49%
10-year low 10-year high

Dividends

Yield
3.11%
Annual rate
1.03
Payout ratio
52.6%
Growth, 2018–26
+2.07%/yr
  1. 0.66 ’18
  2. 0.74 ’19 +11
  3. 0.77 ’20 +4
  4. 0.79 ’21 +2
  5. 0.82 ’22 +4
  6. 0.86 ’23 +5
  7. 0.90 ’24 +5
  8. 0.99 ’25 +9
  9. 0.78 ’26 −21
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 85 73 50 57
Receivables 45 55 50 —
Inventory 77 95 64 63
Other 25 40 35 —
232 265 215 259
2023 2024 2025 Q'26
Payables 18 20 17 —
ST’ Debt 4 4 9 8
Other 21 18 24 —
70 65 70 82

Compound Annual Growth %

10y 5y 3y
Sales 6.48% 16.63% 4.67%
Cash Flow (7.25%) 0.00% (9.08%)
Earnings (2.21%) 3.51% (38.12%)
Book Value 7.88% 7.38% 0.18%

EPS $

Mar Jun Sep Dec Year
’26 1.17 (0.13) 1.44 — —
’25 0.66 0.44 1.78 (0.52) 2.35
’24 0.61 0.81 2.14 1.02 4.55
’23 0.76 0.34 (0.51) (5.88) (5.29)
’22 1.72 5.07 1.45 1.84 10.06
’21 1.25 0.91 3.47 1.07 6.69
’20 0.88 0.86 1.14 (0.77) 2.10
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 63 72 80 — —
’25 66 68 77 67 277
’24 53 52 62 70 238
’23 50 61 47 57 215
’22 55 61 62 64 242
’21 45 46 52 49 192
’20 38 35 32 23 128
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 12 8 9 — —
’25 5 (8) 42 11 51
’24 (10) 4 3 25 22
’23 6 17 40 (9) 54
’22 (1) 42 14 13 68
’21 (1) 30 38 7 75
’20 (31) 19 15 (5) (2)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (21) 0 9 — —
’25 (4) (11) 20 0 5
’24 (24) (4) (5) 2 (32)
’23 (1) 11 16 (16) 10
’22 (6) 24 (3) 12 28
’21 (6) 19 20 3 36
’20 (36) 12 8 (16) (32)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 111 105 135 141 128 192 242 215 238 277 282 +10.7% — — — —
Gross margin, % 10.88 16.15 22.14 22.08 13.21 22.65 28.07 6.79 12.52 13.88 18.88 +3.0 pt
EBT (7) 29 42 43 14 57 88 (64) 34 13 19 n/m
EBT margin, % (6.03) 27.77 31.15 30.78 11.10 29.63 36.29 (29.87) 14.15 4.74 6.82 +10.8 pt
Net income 30 30 35 40 15 48 74 (40) 34 18 18 (5.6%)
Per share, $
Per share, $ Revenue 16.29 15.34 19.55 20.22 18.28 26.85 33.06 28.72 32.28 37.34 37.40 +9.7%
Earnings 4.34 4.44 5.02 5.68 2.11 6.73 10.14 (5.29) 4.58 2.37 1.97 (6.5%)
Cash flow 13.78 6.05 7.89 7.57 (0.35) 10.48 9.26 7.29 3.03 6.86 5.38 (7.5%)
Capex (0.32) (1.72) (2.81) (2.88) (4.22) (5.49) (5.43) (6.00) (7.32) (6.17) 0.00 +38.9%
Free cash flow 13.46 4.33 5.08 4.69 (4.57) 4.99 3.84 1.29 (4.29) 0.68 5.38 (28.2%)
Book value 32.31 32.13 36.21 41.50 42.79 49.27 58.39 51.13 55.00 57.83 59.00 +6.7%
Shares, m 7 7 7 7 7 7 7 7 7 7 7 +0.9%
Valuation, ×
Valuation, × P/E 6.17 8.80 6.74 8.24 12.46 5.39 3.57 0.00 6.48 20.69 16.80 7.9
P/S 0.44 2.55 1.73 2.32 1.44 1.35 1.09 1.28 0.92 1.31 0.89 1.4
P/B 0.83 1.22 0.94 1.13 0.61 0.74 0.62 0.72 0.54 0.85 0.56 0.8
EV/Sales 0.51 1.99 1.16 1.57 0.96 1.01 0.72 1.00 1.04 1.50 1.11 1.1
EV/FCF 2.27 7.06 4.45 6.78 (3.83) 5.44 6.17 22.30 (7.79) 81.69 (8.89) 12.5
Cash, $m
Cash, $m Operating cash flow 94 41 55 53 (2) 75 68 54 22 51 41 (6.6%)
Capex (2) (12) (19) (20) (30) (39) (40) (45) (54) (46) (76) +40.3%
Free cash flow 92 30 35 33 (32) 36 28 10 (32) 5 41 (27.5%)
Balance, $m
Balance, $m Working capital 160 123 122 139 136 157 216 162 200 145 177 (1.1%)
Net debt 27 (58) (78) (105) (62) (65) (91) (59) 27 51 (48) +7.5%
Shareholders’ equity 220 219 251 289 301 352 427 382 405 429 445 +7.7%
Returns, %
Returns, % ROA 4.47 5.74 9.08 9.65 3.21 9.79 13.79 (7.15) 5.76 2.72 2.22 (1.7) pt
ROIC (0.42) 12.74 15.81 13.15 3.52 12.07 13.02 (13.56) 5.17 2.86 4.03 +3.3 pt
ROE 14.05 13.80 14.80 14.68 5.01 14.75 19.04 (9.78) 8.57 4.21 3.43 (9.8) pt
People
People Employees 2,000 2,300 2,400 2,400 2,000 1,600 1,600 1,700 1,700 1,700 — (1.8%)
Revenue/emp, $m 0.06 0.05 0.06 0.06 0.06 0.12 0.15 0.13 0.14 0.16 — +12.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

NACCO Industries, Inc. vs peers in Thermal Coal (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CNR Core Natural Resources, Inc. $3.7B 47.6× 18.2× +14.22% (above 0%: growing) −70.49% (below 0%: shrinking) +106.40% (above 0%: growing) 17.28% 0.58% Compare
ARLP Alliance Resource Partners, L.P. $3.2B 12.1× 10.5× +0.75% (above 0%: growing) +32.61% (above 0%: growing) +21.12% (above 0%: growing) 36.75% 17.33% Compare
BTU Peabody Energy Corporation $2.0B — (loss-making) — (loss-making) +8.32% (above 0%: growing) n/m −494.22% (below 0%: shrinking) 10.59% (3.87%) Compare
NRP Natural Resource Partners LP $1.6B 15.3× — −10.24% (below 0%: shrinking) −15.15% (below 0%: shrinking) +4.75% (above 0%: growing) 100.00% 60.45% Compare
NC NACCO Industries, Inc. $251.2M 16.8× 3.8× +5.06% (above 0%: growing) −19.10% (below 0%: shrinking) −58.04% (below 0%: shrinking) 14.64% 11.50%
Median of peers $2.6B 15.3× — +4.54% −15.15% +12.94% 27.02% 8.96%

All 5 Thermal Coal stocks →

Pay and ownership Proxy statement filed 31 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 5.11m 4.79m 39.76
2024 4.96m 4.83m (17.18)
2023 4.30m 4.40m (1.51)
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

NACCO Industries, Inc. (NC) Latest News

5 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · Associated Press FinanceAssociated Press FinanceAssociated Press FinanceAssociated Press Finance
Impact 3 · · PR Newswire

4 Nov

Impact 4 · · PR Newswire
Impact 3 · · PR Newswire

12 Aug

Impact 3 · · The Motley Fool transcript
Impact 3 ·

8 Aug

Impact 3 · · MarketBeat transcript

6 Aug

Impact 3 · transcript
Impact 3 · · Moby

5 Aug

Impact 3 ·

12 May

Impact 3 · · MarketBeat

7 May

Impact 4 · · The Motley Fool transcript

6 May

Impact 3 · · Moby

5 May

Impact 4 · · PR Newswire

6 Mar

Impact 3 · · MarketBeat

5 Mar

Impact 4 · · Moby
Impact 3 · · GuruFocus.com

4 Mar

Impact 4 · · Associated Press Finance
Impact 3 · · PR Newswire

5 Feb

Impact 4 · · Barchart

9 Jan

Impact 4 · · Simply Wall St.

10 Dec

Impact 3 · · PR Newswire

5 Dec

Impact 3 · · Insider Monkey

18 Nov

Impact 3 · · PR NewswireMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT Newswires
Impact 3 · · Insider Monkey

13 Nov

Impact 3 · · Simply Wall St.

8 Oct

Impact 3 · · PR Newswire

25 Sep

Impact 4 · · PR Newswire
stockrow.com/NC · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com