I finally got around to developing thermal forecasts in order to rank all of the US coal producers on the same valuation metrics. In this article, I’ll start by providing an updated price deck for met and thermal, along with some price commentary. Then I’ll provide the producer profitability metrics on a per ton basis for met and thermal, along with EV/EBITDA and FCF Yield information. I’ll finish by providing a theoretical framework on how I think about valuing coal companies.
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