Almonty Industries Inc.
ALM · Metal Mining · EDGAR filings ↗
Grade
D45Ramping tungsten miner with good liquidity but deeply negative margins and returns.
Strengths
- Strong liquidity: current ratio 3.89 (71.2nd pct), cash ~$196M (80th pct)
- Revenue up 18% (66.7th pct) as production builds
Risks
- Operating margin -111%, net margin -498%, negative interest coverage (-9) — heavy losses
- Negative ROE (-45%) and ROA (-27%); not yet a working economic model
- Single-commodity (tungsten) and execution/ramp risk
Notable findings
- No interest coverageInterest coverage -8.99 (cannot cover interest)
- Net lossNet loss (net margin -498.0%)
- Strong balance sheetStrong balance sheet — $196M cash & investments
Key metrics
Gross margin
7.3%
Operating margin
-111.5%
Net margin
-498.0%
Return on equity
-45.3%
Return on assets
-27.5%
ROIC
-5.4%
Revenue growth (QoQ)
18.4%
Debt / equity
0.5×
Interest coverage
-9.0×
Current ratio
3.9×
Tangible book value
$261M
Cash & investments
$196M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-03-19 | 2025-12-31 | 0001493152-26-011503 ↗ |