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. In the quarter to June 2026, revenue grew 5.97%, EPS fell 129.6%, free cash flow grew 98.2% and total debt rose 25.8%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

34.28 0.66 +1.96%
Market cap
$253.7M
P/E
14.8×
Fwd P/E
3.8×
Dividend yield
3.00%
F-score
6/9
Altman Z
2.54
Beneish M
−2.64
Dividend safety
52/100
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
P/E ratio
20.69 6.48 0.00 3.57 5.39 12.46 8.24 6.74 8.80 4.65
Piotroski F-Score
6 7 2 7 8 2 4 8 8 7
P/S ratio
1.31 0.92 1.28 1.09 1.35 1.44 2.32 1.73 2.55 0.33
Altman Z-Score
2.54 2.35 2.29 3.47 3.04 2.20 3.14 3.17 2.61 1.14
Altman Z″-Score (non-manufacturers)
5.49 6.26 5.80 8.82 7.31 5.87 6.68 7.15 5.80 3.24
P/FCF ratio
71.62 0.00 28.44 9.42 7.28 0.00 9.99 6.68 9.04 1.49
Beneish M-Score
(2.64) (2.52) (2.12) (2.31) (2.67) (1.01) (2.95) (2.76) (2.03) (4.97)
P/Operating CF
31.91 8.72 (32.15) 20.62 36.62 (35.22) 59.17 14.88 18.83 2.87
Dividend Safety Score
52 — — — — — — — — —
P/B ratio
0.85 0.54 0.72 0.62 0.74 0.61 1.13 0.94 1.22 0.62
Price to Tangible BV
0.86 0.55 0.73 0.66 0.81 0.70 1.30 1.12 1.52 0.78
EV/Sales
1.50 1.04 1.00 0.72 1.01 0.96 1.57 1.16 1.99 0.40
EV/EBITDA
18.89 6.90 0.00 2.47 3.50 9.13 5.71 3.59 4.53 15.51
EV/Operating CF
8.16 11.05 3.95 2.55 2.59 (49.40) 4.20 2.86 5.05 1.74
EV/FCF
81.69 (7.79) 22.30 6.17 5.44 (3.83) 6.78 4.45 7.06 1.78
Quick Ratio
1.43 1.98 1.86 3.86 2.88 2.48 2.34 2.70 2.52 0.41
Current Ratio
3.09 4.08 3.31 5.88 4.41 3.60 3.24 3.89 3.28 1.72
Net Debt/EBITDA
1.07 0.44 1.47 (0.94) (0.83) (1.94) (1.89) (1.33) (1.27) 2.27
Debt/Assets
15.26% 15.75% 4.81% 3.46% 4.08% 5.56% 4.03% 1.86% 11.08% 14.38%
Debt/Equity
0.24 0.25 0.07 0.05 0.06 0.09 0.06 0.03 0.20 0.44
Asset Turnover
0.43 0.41 0.39 0.45 0.39 0.28 0.34 0.35 0.20 0.17
Operating CF/Net income
2.90 0.66 (1.38) 0.91 1.56 (0.17) 1.33 1.57 1.36 3.17
Capex/Depreciation
(1.76) (2.13) (1.50) (1.46) (1.68) (1.61) (1.21) (1.30) (0.89) (0.16)
Interest Coverage
3.82 6.41 (28.51) 34.41 32.23 9.93 44.52 21.83 9.54 (0.38)
ROE
4.21% 8.57% (9.78%) 19.04% 14.75% 5.01% 14.68% 14.80% 13.80% 14.05%
ROA
2.72% 5.76% (7.15%) 13.79% 9.79% 3.21% 9.65% 9.08% 5.74% 4.47%
ROIC
2.86% 5.17% (13.56%) 13.02% 12.07% 3.52% 13.15% 15.81% 12.74% (0.42%)
Return on Tangible Assets
4.06% 7.35% (10.26%) 17.08% 13.74% 4.80% 14.32% 14.11% 12.48% 10.77%
Average Days of Receivables
65.61 85.22 76.96 91.00 88.14 117.30 56.58 77.69 120.29 68.32
Research and Development Expense of Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Selling, General and Administrative Expense of Revenue
28.08% 29.34% 30.55% 26.44% 29.05% 41.32% 38.15% 36.34% 45.33% 43.99%
Intangible Assets out of Total Assets
0.01 0.01 0.01 0.05 0.06 0.07 0.09 0.11 0.11 0.07
Share Based Compensation of Revenue
2.99% 2.45% 2.40% 3.12% 2.90% 2.40% 3.49% 2.92% 4.31% 0.00%
Graham Net Nets
(0.05) 0.17 0.27 0.45 0.18 0.07 0.14 0.16 0.03 (0.48)
Graham Number
55.53 75.45 0.00 115.37 86.38 45.07 72.82 64.01 56.52 56.41
Earnings Yield
4.83% 15.43% (14.40%) 28.05% 18.55% 8.02% 12.13% 14.84% 11.36% 21.51%
Free Cash Flow Yield
1.40% (14.39%) 3.52% 10.62% 13.75% (17.37%) 10.01% 14.97% 11.07% 66.96%
Revenue per Share
37.34 32.28 28.72 33.06 26.85 18.28 20.22 19.55 15.34 16.29
Operating CF per Share
6.86 3.03 7.29 9.26 10.48 (0.35) 7.57 7.89 6.05 13.78
Capex per Share
(6.17) (7.32) (6.00) (5.43) (5.49) (4.22) (2.88) (2.81) (1.72) (0.32)
Free Cash Flow per Share
0.68 (4.29) 1.29 3.84 4.99 (4.57) 4.69 5.08 4.33 13.46
Cash per Share
6.70 9.89 11.38 15.15 12.04 12.59 17.62 12.31 14.88 10.17
Shareholders Equity per Share
57.83 55.00 51.13 58.39 49.27 42.79 41.50 36.21 32.13 32.31
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
57.83 55.00 51.13 58.39 49.27 42.79 41.50 36.21 32.13 32.31
Free Cash Flow
5.08 (31.59) 9.64 28.05 35.65 (32.10) 32.69 35.15 29.56 91.75
Working Capital
145.28 199.85 162.01 216.14 157.04 135.89 138.70 121.93 123.01 159.90
Capital Expenditures
(45.83) (53.88) (44.85) (39.69) (39.23) (29.62) (20.09) (19.48) (11.75) (2.18)
Net Current Asset Value
(17.09) 38.00 74.63 119.30 47.95 12.59 45.29 37.89 6.88 (66.00)
EV/EBIT
18.89 6.90 0.00 2.47 3.50 9.13 5.71 3.59 6.36 0.00
Capex to Sales
0.17 0.23 0.21 0.16 0.20 0.23 0.14 0.14 0.11 0.02
Price to Operating Income
16.56 6.15 0.00 3.77 4.68 13.74 8.41 5.38 8.14 0.00
Other line items
Depreciation/Fixed assets
0.09 0.10 0.13 0.13 0.12 0.11 0.12 0.12 0.11 0.12
Cash ROIC
0.88% (5.47%) 1.95% 5.03% 7.77% (7.73%) 7.60% 10.25% 8.12% 23.79%
Accounts Receivable Turnover
5.26 4.72 4.07 4.54 4.38 4.07 5.56 4.27 3.79 1.65
Accounts Payable Turnover
13.16 11.19 12.95 13.24 15.96 14.29 11.36 11.15 8.76 1.79
Inventory Turnover
3.02 2.42 2.70 2.77 2.92 2.53 3.07 3.44 2.98 1.02
Average Days of Payables
25.59 34.31 32.10 27.95 31.85 18.49 33.06 32.55 39.47 38.93
Days of Inventory on Hand
97.32 166.06 140.38 150.07 133.03 155.71 134.44 108.07 124.69 106.65
Average Receivables
52.66 50.39 52.78 53.30 43.80 31.56 25.34 31.67 27.66 67.45
Average Payables
18.14 18.58 15.46 13.13 9.30 7.80 9.68 9.45 10.03 55.43
Average Inventory
79.13 85.80 74.24 62.79 50.82 44.01 35.84 30.61 29.47 96.97
Average Assets
646.46 585.70 553.89 537.65 491.70 460.48 410.88 383.27 528.79 661.71
Average Common Equity
417.10 393.64 404.65 389.54 326.37 295.01 270.05 235.08 219.87 210.72

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