Thermal Coal stocks worldwide, ranked

As of 13 Nov 2026, PT Indo Tambangraya Megah (ITMG.JK) ranks first in Thermal Coal on MoatMap, with a MoatMap Score of 96/100, among 57 companies in 9 countries worth $200M or more that trade $1M or more a day. A research ranking, not investment advice.

The score reads each company's latest yearly results, so when a whole industry is near the top of its cycle, its companies can rank high together.

Live list, follows each night's scores · scores as of ·How we score stocks

The top 25 Thermal Coal companies by MoatMap Score

#StockYieldP/EScoreQVMStyle · Activity
1
ITMG.JK
PT Indo Tambangraya Megah Tbk
Indonesia · $1.6B

Value 73: a high yield and below book value. Quality 68: interest well covered and a liquid balance sheet. Momentum 65: outperforming the market over 6 months.

Yield 7.1%P/E 7.6
96
Score
68
Q
73
V
65
M
Full House
2
PTBA.JK
PT Bukit Asam (Persero) Tbk
Indonesia · $2.1B

Momentum 72: outperforming the market over 6 months and near its 52-week high. Value 64: cheap on P/E and cheap on sales. Quality 63: high return on equity and interest well covered.

Yield 3.9%P/E 5.8
93
Score
63
Q
64
V
72
M
Full HouseDir. sell $0K
3
ARLP
Alliance Resource Partners, L.P.
United States · $3.4B

Quality 69: strong free cash flow and high gross profitability. Momentum 66: near its 52-week high and estimates revised up. Value 60: a high yield.

Yield 9.8%P/E 10.2
92
Score
69
Q
60
V
66
M
Full HouseDir. buy $80K
4
ADRO.JK
PT Alamtri Resources Indonesia Tbk
Indonesia · $3.9B

Value 68: a high yield and cheap on P/E. Momentum 66: outperforming the market over 6 months and near its 52-week high. Quality 59: a liquid balance sheet but a weak F-Score 4/9.

Yield 11.4%P/E 5.8
90
Score
59
Q
68
V
66
M
Full House
5
COALINDIA.NS
Coal India Limited
India · $25.8B

Quality 78: high gross profitability and interest well covered. Value 66: a high yield and cheap on P/E. Momentum 45: near its 52-week high but estimates cut.

Yield 6.6%P/E 7.4
88
Score
78
Q
66
V
45
M
Unloved Quality
6
601225.SS
Shaanxi Coal Industry Company Limited
China · $38.2B

Quality 71: interest well covered and high return on equity. Momentum 65: outperforming the market over 6 months and near its 52-week high. Value 49: far above book value.

Yield 3.8%P/E 11.9
86
Score
71
Q
49
V
65
M
Premium Grower
7
EXX.JO
Exxaro Resources Limited
South Africa · $2.6B

Value 68: a high yield and cheap on P/E. Quality 66: a liquid balance sheet and interest well covered. Momentum 46: quarterly earnings shrinking.

Yield 9.5%P/E 6.3
81
Score
66
Q
68
V
46
M
Unloved Quality
8
NRP
Natural Resource Partners L.P.
United States · $1.3B

Quality 74: strong free cash flow and wide operating margins. Momentum 72: near its 52-week high and outperforming the market over 6 months. Value 27: little or no yield; P/FCF excluded.

Yield 0.6%P/E 15.7
76
Score
74
Q
27
V
72
M
Premium GrowerDir. buy $34KDir. sell $244KDeep dive →
9
TGA.JO
Thungela Resources Limited
South Africa · $1.2B

Momentum 66: estimates revised up and quarterly earnings growing. Value 58: a high yield. Quality 43: high gross profitability but low returns on capital.

Yield 6.3%P/E —
71
Score
43
Q
58
V
66
M
Second WindDir. buy $9KDir. sell $537K
10
002128.SZ
Inner Mongolia Dian Tou Energy Corporation Limited
China · $13.1B

Quality 71: interest well covered and high gross profitability. Momentum 48: outperforming the market over 6 months but EPS deteriorating. Value 46: cheap on P/E but expensive on free cash flow.

Yield 3.6%P/E 8.7
70
Score
71
Q
46
V
48
M
Fallen Favourite
11
601001.SS
Jinneng Holding Shanxi Coal Industry Co.,ltd.
China · $4B

Quality 66: interest well covered and a liquid balance sheet. Value 58: cheap on EV/EBITDA. Momentum 41: EPS deteriorating.

Yield 3.6%P/E 13.8
69
Score
66
Q
58
V
41
M
Unloved QualityDir. sell $20K
12
603071.SS
ZJMI Environmental Energy Co., Ltd.
China · $989.6M

Value 62: cheap on sales; P/FCF excluded. Quality 54: interest well covered. Momentum 48: estimates cut.

Yield 3.1%P/E 9.4
67
Score
54
Q
62
V
48
M
Unloved Quality
13
1518.T
Mitsui Matsushima Holdings Co., Ltd.
Japan · $523.5M

Momentum 73: outperforming the market over 6 months and near its 52-week high. Quality 52: interest well covered but a weak F-Score 3/9. Value 39: expensive on free cash flow.

Yield 2.9%P/E 13.4
67
Score
52
Q
39
V
73
M
Premium Grower
14
NHC.AX
New Hope Corporation Limited
Australia · $3.6B

Momentum 64: estimates revised up and above its moving averages. Quality 59: low debt. Value 37: expensive on P/E.

Yield 7.6%P/E 27.7
64
Score
59
Q
37
V
64
M
Premium Grower
15
1277.HK
Kinetic Development Group Limited
China · $1.9B

Quality 59: wide operating margins but a tight balance sheet. Value 51: a high yield. Momentum 48: EPS improving.

Yield 7.2%P/E 12.0
63
Score
59
Q
51
V
48
M
Unloved QualityDir. buy $484K
16
WHC.AX
Whitehaven Coal Limited
Australia · $4.6B

Value 68: cheap on free cash flow and cheap on EV/EBITDA. Quality 50: strong free cash flow. Momentum 40: quarterly earnings shrinking.

Yield 1.4%P/E 14.7
62
Score
50
Q
68
V
40
M
Unloved QualityDir. buy $97K
17
600546.SS
Shanxi Coal International Energy Group Co.,Ltd
China · $3.6B

Quality 60: interest well covered. Value 46: mixed. Momentum 46: estimates cut.

Yield 3.2%P/E 13.3
57
Score
60
Q
46
V
46
M
Fallen Favourite
18
601088.SS
China Shenhua Energy Company Limited
China · $163.2B

Quality 63: interest well covered and F-Score 7/9. Momentum 60: near its 52-week high and outperforming the market over 6 months. Value 27: expensive on free cash flow.

Yield 4.2%P/E 17.6
55
Score
63
Q
27
V
60
M
Premium Grower
19
601699.SS
Shanxi Lu'an Environmental Energy Development Co., Ltd.
China · $6.4B

Momentum 53: quarterly earnings growing but estimates cut. Value 50: below book value but little or no yield. Quality 45: low debt but a tight balance sheet.

Yield 1.4%P/E 17.9
53
Score
45
Q
50
V
53
M
Second Wind
20
601898.SS
China Coal Energy Company Limited
China · $28.9B

Value 54: expensive on free cash flow. Quality 52: interest well covered. Momentum 42: quarterly earnings shrinking.

Yield 3.1%P/E 11.1
52
Score
52
Q
54
V
42
M
Unloved Quality
21
BYAN.JK
PT Bayan Resources Tbk.
Indonesia · $19.9B

Quality 88: ROIC in the top 5% of its sector and interest well covered. Momentum 38: well off its 52-week high. Value 20: far above book value.

Yield 3.1%P/E 23.8
51
Score
88
Q
20
V
38
M
Fallen FavouriteDir. buy $63.9MDir. sell $1.6B
22
YAL.AX
Yancoal Australia Ltd
Australia · $5.6B

Quality 55: low debt. Value 53: below book value but expensive on P/E. Momentum 37: quarterly earnings shrinking.

Yield 3.4%P/E 25.2
49
Score
55
Q
53
V
37
M
Unloved Quality
23
600971.SS
Anhui Hengyuan Coal Industry and Electricity Power Co.,Ltd
China · $1.4B

Momentum 66: EPS improving and quarterly earnings growing. Value 47: below book value but expensive on P/E. Quality 31: a weak F-Score 3/9.

Yield 3.4%P/E 42.5
49
Score
31
Q
47
V
66
M
Hot Air
24
1171.HK
Yankuang Energy Group Company Limited
China · $13.2B

Value 57: cheap on P/E but expensive on free cash flow. Quality 46: a tight balance sheet. Momentum 38: estimates cut.

Yield 5.6%P/E 7.7
47
Score
46
Q
57
V
38
M
Bargain Bin
25
000983.SZ
Shanxi Coking Coal Energy Group Co., Ltd.
China · $5.3B

Momentum 58: EPS improving but estimates cut. Value 45: below book value but little or no yield. Quality 39: a tight balance sheet.

Yield 1.4%P/E 20.4
47
Score
39
Q
45
V
58
M
Hot Air

Ranked by MoatMap Score, the 0 to 100 score of Quality, Value and Momentum, among companies worth $200M or more that trade $1M or more a day, one line per company. Director dealings are director purchases and sales filed in the last 180 days, where MoatMap carries the market's filings.