Almonty Industries Inc.
Almonty Industries Inc. is a global tungsten mining company focused on the extraction, processing, and shipment of tungsten concentrate for industrial customers. Its operations center on producing tungsten-bearing ore and developing projects in Spain, Portugal, and South Korea, with assets that include operating mines and advanced development-stage projects. The company supplies tungsten used in a range of critical applications, including defense, aerospace, electronics, and advanced manufacturing, where the metal’s hardness and heat resistance are highly valued. Almonty Industries Inc. also explores complementary tin and tungsten deposits, supporting a portfolio built around specialty mineral production. Headquartered in Toronto, Canada, and active across key mining regions, Almonty Industries Inc. plays a role in the global supply of strategic tungsten materials.
$9.34
+$0.44 (+4.94%)
EOD Oct 21, 2026
The business is unprofitable at the operating level (-89.90% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 12.8%, still solid. Margins contracted 65.9pp, which offsets some of the top-line progress.
At 39x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from -2.77% to -6.44%, capital efficiency is deteriorating.
39.2x earnings. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
C$86M
▲ +12.8% YoY
Net Income (TTM)
C$107M
▼ -893.5% YoY
Op. Margin
5.18%
▼ -65.9pp YoY
ROIC
-6.44%
▼ -3.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-C$55M
▼ -82.9% YoY
Op. Cash Flow (TTM)
C$27M
▼ -170.4% YoY
Net Debt
-C$104M
Net Cash Position
Cash & Equiv.
C$266M
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Is Almonty Industries (ALM) overvalued?
At a P/E of 39.2, Almonty Industries (ALM)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Almonty Industries scores 44/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
Is Almonty Industries a high-quality business?+
Almonty Industries scores 44 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 5.2% operating margin and a -6.4% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Is Almonty Industries a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh ALM's valuation and scores 44/100 on quality (mixed). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Other Industrial Metals & Mining
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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