Warrior Met Coal, Inc. (HCC) Balance Sheet
HCC balance sheet, 2025
December 31, 2025 · U.S. dollars$2.78B assets = $642.4M liabilities + $2.14B equity
Both columns are drawn to the same scale: what HCC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HCC financial health
Current ratio3.19
Comfortable · current assets cover current liabilities 3.19×
Debt / equity0.13
Low leverage · $0.13 of debt for each $1 of equity
Equity / assets76.9%
Equity-funded · of assets funded by shareholders
Cash / debt130.4%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
HCC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $947.6M2016 | $2.78B2025 | +12.7%/yr | |
| Total liabilities | $194.7M2016 | $642.4M2025 | +14.2%/yr | |
| Shareholders’ equity | $753.0M2016 | $2.14B2025 | +12.3%/yr | |
| Cash & short-term investments | $167.5M2016 | $353.2M2025 | +8.6%/yr | |
| Total debt | $6.6M2016 | $270.9M2025 | +51.2%/yr | |
| Net cash (debt) | $161.0M2016 | $82.3M2025 | −$78.7M | |
| Working capital | $226.1M2016 | $563.2M2025 | +$337.1M | |
| Book value per share | $14.292016 | $40.712025 | +12.3%/yr | |
| Current ratio | 4.502016 | 3.192025 | −1.31 | |
| Debt / equity | 0.012016 | 0.132025 | +0.12 | |
| Shares outstanding | 52.7M2016 | 52.6M2025 | −0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HCC assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HCC liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HCC debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HCC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $353.2M | $506.2M | $747.2M | $838.1M | $404.3M | $220.4M | $208.1M | $223.1M | $53.0M | $167.5M |
| Cash & equivalents | $300.0M | $491.5M | $738.2M | $829.5M | $395.8M | $211.9M | $193.4M | $205.6M | $35.5M | $150.0M |
| Short-term investments | $53.3M | $14.6M | $9.0M | $8.6M | $8.5M | $8.5M | $14.7M | $17.5M | $17.5M | $17.5M |
| Receivables | $182.3M | $141.6M | $110.4M | $155.5M | $130.1M | $88.4M | $114.2M | $139.8M | $132.2M | $71.8M |
| Inventory | $235.9M | $207.6M | $183.9M | $154.0M | $59.6M | $118.7M | $97.9M | $56.7M | $54.3M | $39.4M |
| Other current assets | $48.8M | $31.7M | $27.6M | $25.5M | $33.1M | $39.9M | $23.8M | $49.5M | $29.4M | $12.0M |
| Total current assets | $820.3M | $887.1M | $1.07B | $1.17B | $627.2M | $467.5M | $444.0M | $469.2M | $268.9M | $290.8M |
| Property, plant & equipment (net) | $1.82B | $1.55B | $1.26B | $827.6M | $696.6M | $738.0M | $716.3M | $660.7M | $666.7M | $640.2M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $44.6M | $0 | $0 | $0 | $0 | $11.3M | $21.3M | $39.3M | $0 |
| Other non-current assets | $146.2M | $110.4M | $27.8M | $27.4M | $140.4M | $188.5M | $172.5M | $243.8M | $18.4M | $16.7M |
| Total assets | $2.78B | $2.59B | $2.36B | $2.03B | $1.46B | $1.39B | $1.34B | $1.40B | $993.3M | $947.6M |
| Liabilities | ||||||||||
| Accounts payable | $66.1M | $40.2M | $36.2M | $39.0M | $33.8M | $59.1M | $46.4M | $33.6M | $28.1M | $6.0M |
| Short-term debt | $38.5M | $13.2M | $11.5M | $24.1M | $23.6M | $14.4M | $10.1M | $760,000 | $3.0M | $2.8M |
| Deferred revenue | — | — | −$9.6M | $7.6M | $54.8M | $86.1M | $65.8M | $82.3M | $66.7M | $50.4M |
| Total current liabilities | $257.0M | $170.4M | $147.7M | $153.1M | $122.1M | $170.3M | $129.0M | $124.4M | $108.2M | $64.6M |
| Long-term debt | $232.4M | $159.8M | $161.8M | $311.6M | $339.8M | $379.9M | $364.7M | $468.2M | $342.9M | $3.7M |
| Lease obligations | $116.7M | $19.4M | $20.2M | $33.1M | $52.1M | $38.5M | $35.7M | — | — | — |
| Other long-term liabilities | $153.0M | $170.4M | $173.2M | $115.9M | $130.3M | $118.5M | $85.0M | $89.8M | $129.1M | $126.3M |
| Total liabilities | $642.4M | $500.7M | $482.6M | $580.6M | $592.2M | $668.7M | $578.7M | $682.4M | $580.3M | $194.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $548,000 | $545,000 | $542,000 | $539,000 | $537,000 | $534,000 | $533,000 | $533,000 | $534,000 | $802.6M |
| Retained earnings (deficit) | $1.89B | $1.85B | $1.65B | $1.23B | $666.0M | $525.5M | $571.7M | $510.3M | $82.5M | −$49.7M |
| Treasury stock | — | — | — | — | −$50.6M | −$50.6M | −$50.6M | −$38.0M | $0 | — |
| Accumulated other comprehensive income | — | — | $0 | $0 | $0 | $0 | $0 | −$208.2M | −$125.9M | −$45.4M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | — |
| Total shareholders' equity | $2.14B | $2.09B | $1.87B | $1.45B | $872.0M | $725.2M | $765.6M | $712.6M | $413.0M | $753.0M |
| Key figures | ||||||||||
| Total debt | $270.9M | $173.0M | $173.2M | $335.7M | $391.9M | $418.4M | $374.9M | $469.0M | $345.9M | $6.6M |
| Net cash (debt) | $82.3M | $333.1M | $574.0M | $502.4M | $12.5M | −$198.0M | −$166.8M | −$245.9M | −$292.9M | $161.0M |
| Working capital | $563.2M | $716.6M | $921.5M | $1.02B | $505.1M | $297.2M | $315.1M | $344.7M | $160.6M | $226.1M |
| Tangible book value | $2.14B | $2.09B | $1.87B | $1.45B | $872.0M | $725.2M | $765.6M | $712.6M | $413.0M | $753.0M |
| Book value per share | $40.71 | $39.94 | $36.02 | $27.99 | $16.95 | $14.17 | $14.87 | $13.47 | $7.82 | $14.29 |
| Shares outstanding | 52.6M | 52.3M | 52.0M | 51.7M | 51.4M | 51.2M | 51.5M | 52.9M | 52.8M | 52.7M |
| Current ratio | 3.19 | 5.20 | 7.24 | 7.66 | 5.14 | 2.74 | 3.44 | 3.77 | 2.48 | 4.50 |
| Quick ratio | 2.08 | 3.80 | 5.81 | 6.49 | 4.38 | 1.81 | 2.50 | 2.92 | 1.71 | 3.70 |
| Debt / equity | 0.13 | 0.08 | 0.09 | 0.23 | 0.45 | 0.58 | 0.49 | 0.66 | 0.84 | 0.01 |
| Equity / assets | 76.9% | 80.7% | 79.5% | 71.4% | 59.6% | 52.0% | 57.0% | 51.1% | 41.6% | 79.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $322.5M | $233.2M | $353.2M | $392.5M | $431.1M | $488.0M | $506.2M | $592.5M | $718.3M | $703.0M | $747.2M | $695.7M |
| Cash & equivalents | $302.3M | $202.6M | $300.0M | $336.3M | $383.3M | $454.9M | $491.5M | $583.2M | $709.0M | $693.9M | $738.2M | $686.8M |
| Short-term investments | $20.2M | $30.6M | $53.3M | $56.2M | $47.8M | $33.1M | $14.6M | $9.4M | $9.3M | $9.1M | $9.0M | $8.9M |
| Receivables | $330.3M | $296.1M | $182.3M | $145.1M | $206.7M | $209.9M | $141.6M | $188.3M | $217.6M | $250.6M | $110.4M | $299.7M |
| Inventory | $264.9M | $251.5M | $235.9M | $219.1M | $214.9M | $197.6M | $207.6M | $191.3M | $173.9M | $165.7M | $183.9M | $108.8M |
| Other current assets | $0 | $46.8M | $48.8M | $45.4M | $0 | $0 | $31.7M | $0 | $0 | $0 | $27.6M | $0 |
| Total current assets | $917.6M | $827.7M | $820.3M | $802.0M | $852.7M | $895.5M | $887.1M | $972.1M | $1.11B | $1.12B | $1.07B | $1.10B |
| Property, plant & equipment (net) | $1.84B | $1.85B | $1.82B | $1.84B | $1.74B | $1.67B | $1.62B | $1.51B | $1.42B | $1.33B | $1.26B | $1.09B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $2.0M | $10.1M | $24.6M | $44.6M | $49.7M | $0 | $0 | $0 | $0 |
| Other non-current assets | $141.4M | $144.4M | $146.2M | $39.4M | $38.4M | $37.9M | $38.1M | $45.1M | $26.5M | $27.5M | $27.8M | $25.5M |
| Total assets | $2.90B | $2.82B | $2.78B | $2.68B | $2.65B | $2.62B | $2.59B | $2.58B | $2.56B | $2.48B | $2.36B | $2.22B |
| Liabilities | ||||||||||||
| Accounts payable | $78.8M | $72.2M | $66.1M | $46.2M | $62.1M | $57.2M | $40.2M | $45.1M | $65.5M | $43.2M | $36.2M | $44.0M |
| Short-term debt | $32.0M | $37.9M | $38.5M | $25.2M | $24.9M | $12.9M | $13.2M | $13.5M | $12.6M | $11.4M | $11.5M | $13.7M |
| Deferred revenue | — | — | — | — | — | — | — | −$13.5M | — | −$11.4M | $94.1M | $72.2M |
| Total current liabilities | $233.7M | $237.9M | $257.0M | $194.3M | $185.6M | $174.4M | $170.4M | $167.3M | $174.3M | $163.0M | $147.7M | $144.0M |
| Long-term debt | $154.6M | $154.4M | $232.4M | $211.4M | $210.8M | $159.4M | $159.8M | $156.9M | $153.3M | $153.2M | $153.0M | $162.7M |
| Lease obligations | $114.7M | $112.1M | $116.7M | $82.5M | $81.8M | $18.5M | $19.4M | $16.9M | $17.6M | $19.1M | $20.2M | $23.5M |
| Other long-term liabilities | $222.0M | $226.6M | $153.0M | $159.1M | $168.7M | $213.4M | $170.4M | $169.4M | $184.8M | $184.2M | $181.9M | $167.4M |
| Total liabilities | $610.2M | $619.0M | $642.4M | $564.8M | $565.1M | $547.1M | $500.7M | $493.6M | $512.5M | $500.4M | $482.6M | $474.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $550,000 | $550,000 | $548,000 | $548,000 | $548,000 | $548,000 | $545,000 | $545,000 | $545,000 | $545,000 | $542,000 | $542,000 |
| Retained earnings (deficit) | $2.04B | $1.96B | $1.89B | $1.87B | $1.84B | $1.84B | $1.85B | $1.85B | $1.82B | $1.75B | $1.65B | $1.52B |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $2.29B | $2.20B | $2.14B | $2.12B | $2.08B | $2.08B | $2.09B | $2.09B | $2.05B | $1.98B | $1.87B | $1.75B |
| Key figures | ||||||||||||
| Total debt | $235.8M | $266.5M | $270.9M | $236.6M | $235.7M | $172.3M | $173.0M | $170.4M | $170.9M | $172.2M | $173.2M | $176.4M |
| Net cash (debt) | $86.7M | −$33.3M | $82.3M | $156.0M | $195.4M | $315.7M | $333.1M | $422.2M | $547.4M | $530.8M | $574.0M | $519.3M |
| Working capital | $684.0M | $589.8M | $563.2M | $607.7M | $667.1M | $721.2M | $716.6M | $804.8M | $935.5M | $956.2M | $921.5M | $960.2M |
| Tangible book value | $2.29B | $2.20B | $2.14B | $2.12B | $2.08B | $2.08B | $2.09B | $2.09B | $2.05B | $1.98B | $1.87B | $1.75B |
| Book value per share | $43.32 | $41.78 | $40.86 | $40.23 | $39.54 | $39.58 | $39.90 | $39.83 | $39.11 | $37.88 | $35.96 | $33.49 |
| Shares outstanding | 52.9M | 52.8M | 52.4M | 52.6M | 52.6M | 52.5M | 52.4M | 52.4M | 52.4M | 52.2M | 52.1M | 52.1M |
| Current ratio | 3.93 | 3.48 | 3.19 | 4.13 | 4.59 | 5.14 | 5.20 | 5.81 | 6.37 | 6.86 | 7.24 | 7.67 |
| Quick ratio | 2.79 | 2.22 | 2.08 | 2.77 | 3.44 | 4.00 | 3.80 | 4.67 | 5.37 | 5.85 | 5.81 | 6.91 |
| Debt / equity | 0.10 | 0.12 | 0.13 | 0.11 | 0.11 | 0.08 | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.10 |
| Equity / assets | 79.0% | 78.1% | 76.9% | 78.9% | 78.6% | 79.1% | 80.7% | 80.9% | 80.0% | 79.8% | 79.5% | 78.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.
HCC financial position
At the end of fiscal 2025 (December 31, 2025), Warrior Met Coal had total assets of $2.8 billion (up 7.4% from a year earlier), total liabilities of $642.4 million and shareholders' equity of $2.1 billion. It held $353.2 million in cash and short-term investments against $270.9 million of debt, a net cash position of $82.3 million. Its current ratio was 3.19. In the latest quarter (ended June 30, 2026) total assets were $2.9 billion and equity $2.3 billion.
Related: HCC income statement, HCC cash flow statement, HCC key metrics. See the HCC stock overview for the latest quote and news.
HCC balance sheet FAQ
What are Warrior Met Coal's total assets?
Warrior Met Coal reported total assets of $2.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.6 billion a year earlier.
How much debt does Warrior Met Coal have?
Warrior Met Coal had $270.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.13.
How much cash does Warrior Met Coal have?
Warrior Met Coal held $353.2 million in cash and short-term investments at the end of fiscal 2025; with $270.9 million of debt that is net cash of $82.3 million.
What is Warrior Met Coal's book value?
Warrior Met Coal's shareholders' equity (book value) was $2.1 billion at the end of fiscal 2025, or $40.71 per share.
What is Warrior Met Coal's current ratio?
Warrior Met Coal had current assets of $820.3 million and current liabilities of $257.0 million, a current ratio of 3.19 (it can cover its short-term obligations).