NACCO Industries, Inc.
- Open
- 49.75
- Day high
- 49.98
- Day low
- 49.42
- Prev close
- 50.05
- Volume
- 3K
- Mkt cap
- $375M
- P/E (TTM)
- 17.3
- EPS (TTM)
- $2.88
- P/B
- 0.9
- P/S
- 1.4
- Yield
- 2.05%
- Per share
- $1.02
NACCO Industries, Inc. (NC) is a Energy company listed on NYSE. The stock is up 15% over the past year.
NACCO Industries, Inc. (NC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | — | $1.17 | — | $63M | — |
| Mar 5, 2026 | — | $-0.52 | — | $67M | — |
| Nov 5, 2025 | — | $1.78 | — | $77M | — |
| Apr 30, 2025 | — | $0.66 | — | $66M | — |
| Mar 5, 2025 | — | $1.02 | — | $70M | — |
| Oct 30, 2024 | — | $2.14 | — | $62M | — |
| Jul 31, 2024 | — | $0.81 | — | $52M | — |
| May 1, 2024 | — | $0.61 | — | $53M | — |
| Mar 6, 2024 | — | $1.08 | — | $57M | — |
| Nov 1, 2023 | — | $-0.51 | — | $47M | — |
| Aug 2, 2023 | — | $0.34 | — | $61M | — |
| May 3, 2023 | — | $0.76 | — | $50M | — |
NC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 2, 2026 | RANKIN ALFRED M ET ALdirector, officer, other: Chairman | Grant | 955 | — |
| Apr 2, 2026 | RANKIN VICTOIRE Gother: Member of a Group | Grant | 955 | — |
| Mar 16, 2026 | Loveman Elizabethofficer: SVP and Controller | Sell | 4,053 | $52.04 |
| Mar 16, 2026 | Loveman Elizabethofficer: SVP and Controller | Sell | 1,662 | $51.44 |
| Mar 9, 2026 | Maxwell Thomas Aofficer: SVP Finance and Treasurer | Sell | 1,785 | $48.55 |
| Feb 18, 2026 | BUTLER HELEN RANKINother: Member of a Group | Tax | 8,777 | — |
| Feb 18, 2026 | Maxwell Thomas Aofficer: SVP Finance and Treasurer | Tax | 296 | — |
| Feb 18, 2026 | BUTLER HELEN RANKINother: Member of a Group | Grant | 39,630 | — |
| Feb 18, 2026 | Loveman Elizabethofficer: SVP and Controller | Tax | 363 | — |
| Feb 18, 2026 | Loveman Elizabethofficer: SVP and Controller | Grant | 2,905 | — |
| Feb 18, 2026 | BUTLER JOHN C JRdirector, officer, other: President & CEO | Grant | 39,630 | — |
| Feb 18, 2026 | Dewing Carroll Lofficer: Subsidiary Officer | Tax | 388 | — |
| Feb 18, 2026 | Neumann John Dofficer: SVP, Gen. Counsel & Sec'y | Grant | 5,409 | — |
| Feb 18, 2026 | BUTLER JOHN C JRdirector, officer, other: President & CEO | Tax | 8,777 | — |
| Feb 18, 2026 | Sullivan John Patrick Jr.officer: Officer of a subsidiary | Grant | 5,180 | — |
Source: NC SEC Form 4 filings, latest Apr 2, 2026. For informational purposes only — not investment advice.
See the full NC insider & 13F page →NACCO Industries, Inc. company profile
Overview
NACCO Industries, Inc. (NYSE:NC) is a diversified natural resources company founded in 1913 and headquartered in Cleveland, Ohio. The company has evolved from its origins as a coal mining operation into a multi-segment enterprise focused on natural resources extraction, management, and environmental services. NACCO went public in 1977 and operates through three primary business segments: Coal Mining, North American Mining, and Minerals Management, serving customers across the energy, construction, and industrial sectors.
Revenue model
NACCO Industries generates revenue through multiple business models across its three operating segments, each with distinct revenue streams and customer relationships. The Coal Mining segment operates under long-term supply contracts with power generation companies, typically spanning 10-20 years. Revenue comes from coal sales at contractually determined prices that often include escalation clauses tied to inflation indices and operational cost factors. Key customers include major utilities like the Tennessee Valley Authority (TVA) and independent power producers. The segment also benefits from business interruption insurance recoveries when customer facilities experience operational issues. The North American Mining segment generates revenue through contract mining services, charging fees based on tonnage moved, hours worked, or project completion milestones. Customers include aggregates producers, lithium mining companies, phosphate miners, and quarry operators who prefer to outsource their extraction operations rather than maintain their own mining equipment and expertise. This segment's revenue model is primarily service-based, with contracts ranging from short-term projects to multi-year agreements. The Minerals Management segment operates as a mineral rights lessor, collecting royalty payments typically calculated as a percentage of the value of oil, gas, and coal extracted from NACCO's properties. Revenue fluctuates with commodity prices and production volumes from third-party operators. The company also generates income from bonus payments when new leases are signed and delay rental payments from lessees. Several factors significantly impact NACCO's profitability margins. Commodity price volatility directly affects both the Minerals Management segment's royalty income and can influence coal pricing through market dynamics. Operational efficiency is crucial, particularly in coal mining where equipment breakdowns, weather delays, or geological challenges can increase costs substantially. Customer plant reliability affects coal deliveries, as demonstrated by reduced volumes when power plant boilers require maintenance. Environmental regulations create both compliance costs and potential business interruption risks, while also generating opportunities in environmental restoration services. Energy transition trends present long-term headwinds for coal operations but create opportunities in lithium mining and renewable energy projects. Labor costs and availability impact all segments, particularly specialized mining operations requiring skilled equipment operators.
Competitive moat
NACCO Industries operates in a challenging competitive environment with limited sustainable moats, though the company possesses some defensive characteristics that provide modest protection. The company's strongest moat lies in its long-term contractual relationships in coal mining, where multi-decade supply agreements with major utilities create revenue visibility and high switching costs for customers. These contracts often include mine-mouth delivery arrangements where NACCO operates mines adjacent to power plants, creating logistical advantages that would be expensive for competitors to replicate. The specialized nature of lignite coal mining and the company's operational expertise in specific geological formations provide some technical barriers to entry. In the North American Mining segment, NACCO has developed specialized equipment capabilities and operational expertise in challenging environments such as underwater mining and complex quarry operations. The company's relationship with Lithium Americas for the Thacker Pass project demonstrates its ability to secure exclusive contracts for strategic mineral extraction projects. However, these advantages are primarily operational rather than structural, and competitors with sufficient capital could potentially replicate these capabilities. The Minerals Management segment benefits from NACCO's extensive mineral rights portfolio accumulated over decades, particularly in established oil and gas basins. These mineral interests represent irreplaceable assets that generate passive income, though their value fluctuates significantly with commodity prices and drilling activity. However, NACCO faces substantial competitive pressures and disruption risks. The coal mining business confronts existential challenges from the energy transition toward renewable sources, with coal plant retirements accelerating across the United States. Natural gas competition and environmental regulations continue to pressure coal demand. In contract mining, the company competes against larger, better-capitalized mining services companies and faces the risk that customers may choose to bring operations in-house. The minerals management business, while asset-backed, operates in highly cyclical commodity markets with limited pricing power. Overall, NACCO's moats are modest and primarily operational rather than structural, with the company's long-term viability dependent on successful diversification away from coal and into growing mineral sectors like lithium.
Risks & safety
NACCO Industries maintains a relatively strong financial position with adequate liquidity, though the company faces earnings volatility and capital-intensive operations. **Overall Assessment**: Moderate margin of safety supported by strong balance sheet but challenged by cyclical earnings and declining coal market. **Liquidity and Solvency**: - Cash and short-term investments: $61.9 million (Q1 2025) - Current ratio: 3.42x indicating strong short-term liquidity - Debt-to-equity ratio: 0.26x representing conservative leverage - Free cash flow: Negative $3.8 million (Q1 2025) but historically positive - No immediate solvency concerns given strong balance sheet **Valuation Metrics**: - Price-to-earnings ratio: 12.7x (Q1 2025) - reasonable for cyclical business - Price-to-book ratio: 0.61x - trading below book value - EV/EBITDA: 4.55x - attractive for asset-heavy business - Graham number suggests potential undervaluation **Other Considerations**: - Earnings volatility due to commodity exposure and operational challenges - Coal segment faces long-term secular decline - Capital expenditure requirements for mining equipment maintenance - Environmental liabilities and reclamation obligations - Pension obligations requiring future cash outlays
Recent development
Over the past few years, NACCO Industries has pursued a strategic diversification strategy to reduce dependence on coal mining while expanding into growth-oriented mineral sectors and environmental services. The company's most significant strategic pivot involves expanding its lithium mining exposure through Sawtooth Mining's exclusive contract with Lithium Americas for the Thacker Pass project in Nevada. This relationship has evolved from initial development support to comprehensive mining services, including clay tailings transportation, positioning NACCO to benefit from the electric vehicle battery supply chain growth. The project received a major boost when the Department of Energy provided loan support, and General Motors invested $650 million, with Phase 1 production targeted for the second half of 2026. In the Minerals Management segment, NACCO has aggressively expanded its mineral rights portfolio through strategic acquisitions. The company invested $15.7 million in Hugoton Basin oil and gas assets in Kansas and Oklahoma, diversifying away from legacy Appalachian natural gas properties toward more oil-focused holdings. Management has consistently targeted $20 million in annual mineral interest investments, building a more geographically and commodity-diverse royalty portfolio. The company launched environmental restoration initiatives through Mitigation Resources, establishing stream mitigation banks and securing restoration projects. This business achieved its second consecutive profitable quarter in Q1 2025, representing a new revenue stream that leverages NACCO's land management expertise while addressing environmental compliance needs. NACCO has also begun exploring renewable energy opportunities, particularly solar projects on reclaimed mine lands in Mississippi and Texas. These initiatives could provide behind-the-meter solutions for data centers and represent a natural evolution of the company's land assets. Recent operational improvements include resolving the Red Hills power plant boiler issues that had constrained coal deliveries, implementing efficiency improvements at Mississippi Lignite Mining Company, and securing new contracts in the North American Mining segment including phosphate mining operations.
NC company profile · for informational purposes only — not investment advice.
Track NC with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free