Alpha Metallurgical Resources, Inc.

Alpha is a met-coal miner in a cyclical down-year with a loss but a fortress balance sheet.

Strengths

• Exceptional liquidity: current ratio 4.47 (78th pct), near-zero leverage (D/E 0.002, 17th pct), $416M cash (74th pct)
• High-quality met-coal reserves and significant export/port capacity

Risks

• Net loss with negative ROE (-4%, 39th pct) and ROA (-2.7%) as coal prices fell
• Revenue down 28% (8th pct); commodity-price and steel-demand exposure is highly cyclical

Notable findings

• Net lossNet loss (net margin -2.9%)
• Strong balance sheetStrong balance sheet — $416M cash & investments
• Buying back stockNet buyback — share count -5%/yr over 4y