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Size Tungsten West (TUN.L) is a United Kingdom Materials company (Precious Metals) with a market value of $694M, the 259th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £32.00 on 6 Nov 2026.
Performance Over six months the shares fell 18.2%, against -0.3% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth The operating margin is -1,557.5% (peer median 31.9%).
Valuation It trades at 8.26× book value against a peer median of 2.95× (3rd most expensive of 21).
Price implies The share price implies a return on equity of about 86.4%; Tungsten West delivers -607.6%, so the price asks more than the business earns today.
Next results Next results expected around 17 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £601,550 | £601,550 | £0 | £722,036 | £626,460 |
| Revenue growth | — | — | -100% | +15% | — |
| Gross profit | n/a | £74,554 | -£714,210 | -£1.45M | -£1.38M |
| EBITDA | -£8.99M | -£7.99M | -£8.96M | -£9.81M | -£10.8M |
| Net income | -£175M | -£175M | -£24.7M | -£9.70M | -£10.3M |
| Free cash flow | -£20.8M | -£20.8M | -£8.10M | -£11.0M | -£25.0M |
| Capital expenditure | £5.63M | £5.63M | £20,635 | £2.74M | £11.1M |
| Total debt | n/a | £1.85M | £26.6M | £13.5M | £2.02M |
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.
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 | TUN.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.9% | -8.7% | 2nd lowest of 21 |
| 6-month return | -18.2% | -0.3% | 5th lowest of 19 |
| Return on equity | -607.6% | 12.0% | lowest of 20 |
| Price / book | 8.26× | 2.95× | 3rd most expensive of 21 |
| ROE the price implies | 86.4% | 29.7% | 4th most demanding of 21 |
| ROE delivered | -607.6% | 12.0% | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Tungsten West TUN.L | United Kingdom | $694M | -18% | n/a | -608% | 8.26× | 86.4% | -607.6% |
| Santacruz Silver Mining SCZ.TO | Canada | $707M | n/a | +38% | 22% | 3.28× | 53.5% | 22.1% |
| Griffin Mining GFM.L | United Kingdom | $711M | -4% | +29% | 12% | 2.42× | 21.0% | 12.0% |
| Mako Mining MKO.V | Canada | $712M | +7% | +79% | 36% | 3.70× | 36.5% | 36.1% |
| First Mining Gold FF.TO | Canada | $670M | +33% | n/a | -33% | 4.14× | 30.4% | -32.5% |
| New Found Gold NFGC.TO | Canada | $662M | -16% | n/a | -19% | 1.82× | 19.2% | -19.4% |
| Amaroq AMRQ.L | United Kingdom | $657M | 0% | +2,134% | 2% | 3.10× | 22.7% | 1.8% |
| Founders Metals FDR.V | Canada | $734M | +42% | n/a | -9% | 5.52× | 30.0% | -9.2% |
| Galiano Gold GAU.TO | Canada | $653M | +2% | +91% | 26% | 2.03× | 21.2% | 26.0% |
| Catalyst Metals CYL.AX | Australia | $746M | -28% | +75% | 29% | 1.52× | 15.2% | 29.2% |
| St. Barbara SBM.AX | Australia | $629M | +5% | -76% | -4% | 0.96× | 14.2% | -4.3% |
| Kingsgate Consolidated KCN.AX | Australia | $779M | -39% | +77% | 63% | 2.01× | 21.9% | 63.3% |
| Metals Exploration MTL.L | United Kingdom | $617M | +17% | -17% | 14% | 2.12× | 17.8% | 13.5% |
| Troilus Mining TLG.TO | Canada | $611M | -8% | n/a | -122% | 7.28× | 110.2% | -121.9% |
| FireFly Metals FFM.AX | Australia | $798M | -31% | n/a | -8% | 2.39× | 29.4% | -8.3% |
| Dakota Gold DC | United States | $798M | -1% | n/a | -23% | 4.34× | 38.7% | -23.4% |
| Avino Silver & Gold Mines ASM.TO | Canada | $799M | -30% | +54% | 21% | 2.79× | 46.7% | 20.8% |
| Osisko Gold OGG.V | Canada | $814M | -18% | +805% | 8% | 0.99× | 13.4% | 7.8% |
| Cadillac Mines CADY.TO | Canada | $815M | n/a | n/a | n/a | 9.88× | 157.7% | n/a |
| Anglo Asian Mining AAZ.L | United Kingdom | $590M | +30% | +220% | 58% | 4.42× | 39.4% | 58.0% |
| Liberty Gold LGD.TO | Canada | $819M | +50% | n/a | 34% | 9.20× | 110.5% | 34.4% |