Coal export contributed 4.16 percent to Indonesia GDP in 2023. However, the contribution is fluctuated from 2014 to 2023. However, the contribution is fluctuated from 2014-2023 according to the central bureau of statistics in Indonesia (BPS). The global shift away from coal, spurred by COP26 and COP28 agreements, where declining demand and potential trade restrictions are likely to significantly impact coal-dependent economies by reducing revenue and necessitating economic diversification. This study obtained financial and macroeconomic analyses before and during COVID-19 at seven coal mining companies. This methodology is quantitative, and the data was collected from the annual financial reports of seven coal mining companies listed on the stock exchange from 2014 to 2023. This research used microsoft excel, eviews, and IBM SPSS, to process descriptive analytical test, classical assumption, panel data regression of model estimation, model selection, and hypothesis test.