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Mines tungsten ore in South Korea and Portugal, positioning as a non-Chinese Western tungsten supply source.
Mines tungsten ore in South Korea and Portugal, positioning as a non-Chinese Western tungsten supply source.
Sells tungsten concentrate, mostly priced off the APT benchmark, from Panasqueira in Portugal, a long-running mine, while Sangdong in Korea is the large build-out. Its selling point is that few tungsten producers outside China exist.
Moat: narrow (scale, regulatory licence). One of few non-Chinese tungsten producers, valuable given Western supply-chain security concerns.
Headquarters: Toronto, Ontario, Canada · Founded: 2005
Size Almonty Industries (ALM) is a United States Materials company (Other Metals/Minerals) with a market value of $2.34B, the 1699th largest of 3,117 United States companies the cockpit tracks. Shares closed at $8.12 on 6 Nov 2026.
Performance Over six months the shares fell 58.7%, against -22.1% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 208.0% over the last twelve months (peer median +31.6%); the operating margin is 5.3% (peer median 16.5%).
Valuation It trades at 12.3× forward earnings against a peer median of 19.9× (5th cheapest of 18).
Capital Return on invested capital runs 8.4 points below its cost of capital (11.1% WACC).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $62.1M | $23.3M | $21.0M | $16.7M | $19.0M |
| Revenue growth | — | +11% | +26% | -12% | — |
| Gross profit | $30.2M | $1.70M | $1.44M | $802,408 | $1.96M |
| EBITDA | $4.04M | -$20.2M | -$4.23M | -$3.55M | -$4.69M |
| Net income | $78.2M | -$116M | -$11.9M | -$6.55M | -$11.1M |
| Free cash flow | $4.95M | -$15.6M | -$7.14M | -$10.5M | -$8.11M |
| Capital expenditure | $60.6M | $43.5M | $26.4M | $13.0M | $17.5M |
| Total debt | $574M | $119M | $111M | $99.6M | $67.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Almonty Industries ALM | $2.34B | -59% | +208% | 5% | 12.3× | n/a |
| China Tungsten & Hightech Materials 000657.SZ | $13.2B | -34% | +66% | 16% | 21.0× | n/a |
| Xiamen Tungsten 600549.SS | $8.55B | -37% | +67% | 10% | 13.2× | n/a |
| Tungsten West TUN.L | $694M | -18% | n/a | -1,558% | 106.7× | n/a |
| Guardian Metal Resources PLC Sponsored ADR GMTL | n/a | -66% | n/a | n/a | n/a | n/a |
| EQ Resources EQR.AX | $1.01B | +6% | +150% | 11% | 4.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ALM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.8% | -18.8% | 3rd lowest of 21 |
| 6-month return | -58.7% | -22.1% | lowest of 20 |
| Distance from 52-week high | -66.7% | -50.6% | 3rd lowest of 21 |
| Revenue growth (TTM) | +208.0% | +31.6% | 3rd highest of 21 |
| Operating margin | 5.3% | 16.5% | 10th lowest of 21 |
| Forward P/E | 12.3× | 19.9× | 5th cheapest of 18 |
| ROIC minus cost of capital | -8.4 pp | -1.5 pp | 4th lowest of 20 |
| Net debt / EBITDA | -72.2× | -0.4× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Almonty Industries ALM | United States | $2.34B | -59% | +208% | 5% | 12.3× | n/a | n/a |
| Ningbo Jintian Copper (Group) 601609.SS | China | $2.36B | -11% | +25% | 1% | 15.3× | n/a | n/a |
| Paladin Energy PDN.AX | Australia | $2.32B | -33% | +64% | 4% | 50.9× | n/a | n/a |
| Ningbo Boway Alloy Material 601137.SS | China | $2.26B | -6% | +31% | 0% | 19.8× | n/a | n/a |
| Co-tech Development 8358.TWO | Taiwan | $2.24B | -30% | +31% | 23% | 19.9× | n/a | n/a |
| Jinhui Mining 603132.SS | China | $2.53B | -11% | +38% | 51% | n/a | n/a | n/a |
| Altius Minerals ALS.TO | Canada | $2.16B | -2% | +68% | 17% | 47.6× | 57.7% | -4.5% |
| 5N Plus VNP.TO | Canada | $2.15B | -10% | +32% | 18% | 28.8× | n/a | n/a |
| Centrus Energy LEU | United States | $2.14B | -50% | +8% | 2% | 34.5× | n/a | n/a |
| Trekor Metals TKO.TO | Canada | $2.57B | -1% | +68% | 28% | 9.8× | n/a | n/a |
| Guangdong Jia Yuan Technology Shares 688388.SS | China | $2.12B | -38% | +81% | 4% | 17.9× | n/a | n/a |
| Changyu 603407.SS | China | $2.59B | n/a | +9% | 16% | n/a | 51.8% | +2.2% |
| IGO IGO.AX | Australia | $2.60B | -45% | -12% | -31% | 8.9× | 17.2% | -6.5% |
| Jiaxin International Resources Investment 3858.HK | Hong Kong | $2.08B | -56% | +2,782% | 65% | 6.1× | -6.4% | n/a |
| Sanxiang Advanced Materials 603663.SS | China | $2.65B | -10% | +5% | 18% | 44.4× | 48.1% | +9.7% |
| Anhui Jingcheng Copper Share 002171.SZ | China | $2.07B | -22% | +35% | 1% | 22.0× | n/a | n/a |
| Henan Liliang Diamond 301071.SZ | China | $2.03B | -2% | +73% | 21% | 45.0× | 28.0% | +20.9% |
| Lianyou Metals 7610.TW | Taiwan | $2.03B | +89% | +238% | 56% | 11.4× | n/a | n/a |
| CGN Mining 1164.HK | Hong Kong | $2.03B | -47% | +15% | 2% | 20.8× | 33.0% | +19.1% |
| Shengda Resources 000603.SZ | China | $2.75B | -27% | +25% | 47% | 15.8× | 12.8% | +8.5% |
| Denison Mines DML.TO | Canada | $2.00B | -39% | -9% | -2,101% | n/a | n/a | n/a |