LGONasdaqMining & Quarrying of Nonmetallic Minerals (No Fuels)
Largo Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Apr 1, 2026
$0.42−0.03 (-6.99%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
52.2%−49.2 pts over 5 years
Net margin
-62.3%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -12.0% | -21.7% | -1.7% | – | |
| Gross profit | +1.6% | -24.8% | -14.0% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -46.4% | |
| Return on assets | – | – | -21.5% | |
| Current ratio | – | 3.10 | 0.51 | |
| Debt to equity | – | – | 0.82 | |
| Inventory turnover | – | – | 1.1× | |
| Capex to revenue | – | 15.1% | 25.0% | |
| Diluted shares | – | 61M | 68M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Largo generated $85.82M from operations and spent $192.80M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$85.82M
Used
$192.80M
Capital expenditure$192.80M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-62.3%
×Asset turnover0.34×
×Equity multiplier2.16×
=Return on equity, FY2025-46.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -62.3% | 0.34× | 2.16× | -46.4% |
| FY2024 | -39.9% | 0.36× | 1.69× | -24.1% |
| FY2023 | -15.3% | 0.54× | 1.43× | -11.8% |
| FY2022 | -0.6% | 0.68× | 1.26× | -0.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$68.51M
- Cash generatingOperating cash flow above zero-$10.22M
- Return on assets improvedROA up on the prior year-13.1% → -21.5%
- Earnings backed by cashOperating cash flow above net income-$10.22M vs -$68.51M
- Less leverageLong-term debt to assets fell5.5% → 0.0%
- Better liquidityCurrent ratio rose0.82 → 0.51
- No dilutionShare count did not rise64M → 68M
- Gross margin improvedGross margin up on the prior year45.18% → 52.17%
- More efficientAsset turnover rose0.33 → 0.34