NACCO Industries, Inc.

NYSE:NC Stock Report

Market Cap: US$315.3m

NACCO Industries Management

Management criteria checks 3/4

NACCO Industries' CEO is John Butler, appointed in Sep 2017, has a tenure of 8.92 years. total yearly compensation is $5.11M, comprised of 18.5% salary and 81.5% bonuses, including company stock and options. directly owns 5.43% of the company’s shares, worth $17.12M. The average tenure of the management team and the board of directors is 10.5 years and 8.9 years respectively.

Key information

John Butler

Chief executive officer

US$5.1m

Total compensation

CEO salary percentage18.51%
CEO tenure8.9yrs
CEO ownership5.4%
Management average tenure10.5yrs
Board average tenure8.9yrs

Recent management updates

Recent updates

Seeking Alpha • Jan 06

NACCO Industries: More Foundation For Long-Term Growth In Trump's 'Mine Baby Mine' Era

Summary NACCO Industries remains a compelling portfolio hold, benefiting from U.S. policy shifts favoring domestic resource utilization and resilient segment performance. Q3 2025 results show improved underlying profitability, with Contract Mining revenue up 41% and Utility Coal Mining rebounding post-MLMC disruption. NC maintains strong liquidity, robust cash flow, and consistent dividend growth, supporting ongoing capital investment and shareholder returns. Despite low trading liquidity, NC’s long-term contracts, strategic positioning, and dividend history underpin confidence in its durable value proposition. Read the full article on Seeking Alpha
Analysis Article • Nov 12

We Think NACCO Industries (NYSE:NC) Has A Fair Chunk Of Debt

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Aug 04

Market Participants Recognise NACCO Industries, Inc.'s (NYSE:NC) Revenues

There wouldn't be many who think NACCO Industries, Inc.'s ( NYSE:NC ) price-to-sales (or "P/S") ratio of 1.1x is worth...
Analysis Article • May 13

There May Be Underlying Issues With The Quality Of NACCO Industries' (NYSE:NC) Earnings

Investors were disappointed with NACCO Industries, Inc.'s ( NYSE:NC ) earnings, despite the strong profit numbers. We...
Analysis Article • Apr 11

Is NACCO Industries (NYSE:NC) A Risky Investment?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Analysis Article • Nov 01

NACCO Industries, Inc.'s (NYSE:NC) Prospects Need A Boost To Lift Shares

You may think that with a price-to-sales (or "P/S") ratio of 1x NACCO Industries, Inc. ( NYSE:NC ) is a stock worth...
Seeking Alpha • Sep 12

NACCO Industries Remains Risky Despite Its 30% Decline This Year

Summary NACCO Industries has underperformed the S&P 500 since my previous article, declining 25% while the S&P 500 has rallied 30%. The global shift to renewable energy and the fading tailwind from the Ukrainian war have negatively impacted coal prices, hurting NACCO's earnings. Despite efforts to diversify, NACCO remains highly sensitive to coal price cycles and lacks tangible growth prospects in its core business. Investors should avoid NACCO Industries due to its long-term headwinds and consistent underperformance compared to the broader market. Read the full article on Seeking Alpha
Analysis Article • Jul 17

Health Check: How Prudently Does NACCO Industries (NYSE:NC) Use Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Analysis Article • Dec 21

Pinning Down NACCO Industries, Inc.'s (NYSE:NC) P/E Is Difficult Right Now

There wouldn't be many who think NACCO Industries, Inc.'s ( NYSE:NC ) price-to-earnings (or "P/E") ratio of 15.3x is...
Seeking Alpha • Nov 11

NACCO Industries: Coal Outlook Is Bleak As Green Energy Ramps Up

Summary Coal industry outlook is challenging with increasing investments in renewables. NACCO Industries Inc. offers little value for investors and is not recommended for long-term investment. NC's operations are diversified across coal mining, North American mining, and minerals management, but face declining demand and poor financial performance. Read the full article on Seeking Alpha
Seeking Alpha • Oct 24

NACCO Industries: Cheap Valuation But Beware Of The Risks

Summary NACCO Industries is currently trading at a cheap valuation level but it has some risks. The company has benefited from the war in Ukraine, but the global energy market has absorbed the effect of the war and the price of coal has plunged. NACCO Industries is investing in a major lithium project to diversify its business and hedge against the decline in coal. Read the full article on Seeking Alpha
Seeking Alpha • Jul 18

NACCO Industries: Significant Upside, But Shares Could Become Cheaper

Summary NACCO Industries, Inc. has been given a "Hold" rating due to a benign outlook for energy mineral prices and a growth-oriented business strategy, despite a year-over-year decline in earnings and sales in Q1 2023. The company's coal mining, North American mining and mineral management segments are expected to continue providing solid financial foundations, despite some temporary adverse factors. Despite expected lower profitability in 2023, NACCO's solid financial position should support the payment of dividends and the company's growth and diversification plans. Read the full article on Seeking Alpha
Seeking Alpha • Jun 29

NACCO Industries: A Low Valuation That Seems Justified

Summary NACCO Industries faces severe difficulties in maintaining margins due to increased costs and operational inefficiencies at its mines. The outlook for coal is disappointing, with prices expected to fall by 3% YoY, affecting NC's earnings potential. Investors should consider other coal companies like Alpha Metallurgical Resources for better exposure to the industry. Read the full article on Seeking Alpha
Analysis Article • May 22

NACCO Industries (NYSE:NC) Will Pay A Larger Dividend Than Last Year At $0.2175

NACCO Industries, Inc. ( NYSE:NC ) has announced that it will be increasing its dividend from last year's comparable...
Analysis Article • May 05

Is NACCO Industries (NYSE:NC) Using Debt Sensibly?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

CEO Compensation Analysis

How has John Butler's remuneration changed compared to NACCO Industries's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2026n/an/a

US$17m

Mar 31 2026n/an/a

US$22m

Dec 31 2025US$5mUS$945k

US$18m

Sep 30 2025n/an/a

US$29m

Jun 30 2025n/an/a

US$31m

Mar 31 2025n/an/a

US$34m

Dec 31 2024US$5mUS$908k

US$34m

Sep 30 2024n/an/a

-US$18m

Jun 30 2024n/an/a

-US$37m

Mar 31 2024n/an/a

-US$41m

Dec 31 2023US$4mUS$872k

-US$40m

Sep 30 2023n/an/a

US$18m

Jun 30 2023n/an/a

US$33m

Mar 31 2023n/an/a

US$67m

Dec 31 2022US$5mUS$826k

US$74m

Sep 30 2022n/an/a

US$68m

Jun 30 2022n/an/a

US$82m

Mar 31 2022n/an/a

US$52m

Dec 31 2021US$4mUS$782k

US$48m

Sep 30 2021n/an/a

US$35m

Jun 30 2021n/an/a

US$18m

Mar 31 2021n/an/a

US$18m

Dec 31 2020US$3mUS$753k

US$15m

Sep 30 2020n/an/a

US$27m

Jun 30 2020n/an/a

US$29m

Mar 31 2020n/an/a

US$31m

Dec 31 2019US$4mUS$709k

US$40m

Compensation vs Market: John's total compensation ($USD5.11M) is above average for companies of similar size in the US market ($USD2.41M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.

CEO

John Butler (65 yo)

8.9yrs
Tenure
US$5,106,719
Compensation

Mr. John C. Butler, Jr. is President, CEO & Director of NACCO Natural Resources Corporation. Mr. Butler has been the Chief Executive Officer and President of The North American Coal Corporation since July...

Leadership Team

NamePositionTenureCompensationOwnership
John Butler
President8.9yrsUS$5.11m5.43%
$ 17.1m
Carroll Dewing
Senior VP & COOno dataUS$1.26m0.66%
$ 2.1m
John Neumann
Senior VP13.9yrsUS$1.15m0.58%
$ 1.8m
Thomas Maxwell
Senior VP of Finance & Treasurer8.9yrsno data0.079%
$ 248.3k
Berry Nathan
President of North American Mining14.6yrsno datano data
Eric Anderson
President of Mitigation Resources of North America9.4yrsno datano data
J. Sullivan
Senior VP & CFO of NACCO Natural Resources Corporationno datano datano data
Elizabeth Loveman
Senior VP & Controller12.4yrsUS$544.77k0.20%
$ 626.7k
Robert Strenski
President of KC11.6yrsno datano data
Brian Larson
President of Catapult Mineral Partners7.3yrsno datano data
Christina Kmetko
Investor Relations Consultantno datano datano data
10.5yrs
Average Tenure
57yo
Average Age

Experienced Management: NC's management team is seasoned and experienced (10.5 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
John Butler
President8.9yrsUS$5.11m5.43%
$ 17.1m
Alfred Rankin
Non-Independent Non-Executive Director54.6yrsUS$440.45k3.07%
$ 9.7m
Robert Shapard
Independent Director5.9yrsUS$231.81k0.25%
$ 783.4k
Dennis LaBarre
Independent Director44.6yrsUS$228.93k0.60%
$ 1.9m
Britton Taplin
Independent Director34.6yrsUS$195.93k0.97%
$ 3.0m
Valerie Sachs
Independent Director3.3yrsUS$223.91k0.15%
$ 460.5k
Michael Miller
Independent Director10yrsUS$236.91k0.38%
$ 1.2m
John Jumper
Independent Non-Executive Chairman14.6yrsUS$216.91k0.46%
$ 1.4m
Patrick Burns
Independent Directorno datano datano data
Matthew Rankin
Independent Vice Chair8.9yrsUS$228.91k0.52%
$ 1.7m
William McDonald
Independent Director2.5yrsUS$208.91k0.10%
$ 321.7k
John Dalrymple
Independent Director8.9yrsUS$221.91k0.35%
$ 1.1m
8.9yrs
Average Tenure
70yo
Average Age

Experienced Board: NC's board of directors are considered experienced (8.9 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/20 15:12
End of Day Share Price 2026/08/20 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NACCO Industries, Inc. is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Brian RosenhouseSidoti & Company, LLC