Largo Inc.
Largo Inc. is a Canada-based vanadium and ilmenite producer focused on supplying critical metals for industrial and energy applications. The company operates through mining, sales and trading, exploration, clean energy, and physical vanadium segments, giving it exposure across the full value chain from extraction to product delivery. Its portfolio includes vanadium pentoxide flakes and powder, vanadium trioxide powder, ferrovanadium, ilmenite concentrate, and vanadium flow battery electrolyte and technology. These materials are used in steelmaking, aerospace, defense, chemicals, catalysts, master alloys, and titanium dioxide production. Largo Inc. also maintains a clean energy presence through vanadium redox flow battery technology, supporting long-duration energy storage solutions for utility and industrial markets. Headquartered in Toronto, Canada, Largo Inc. plays a specialized role in the global market for high-purity vanadium products and related materials.
$0.42
-$0.01 (-2.33%)
EOD Oct 21, 2026
The business is unprofitable at the operating level (-41.92% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 12.0% YoY. Margins deteriorated 4.9pp alongside, both lines moving the wrong way.
ROIC dropped from -12.27% to -14.35%, capital efficiency is deteriorating. Negative free cash flow of -$38M. The business is consuming cash, not generating it.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$127M
▼ -12.0% YoY
Net Income (TTM)
-$81M
▼ -35.9% YoY
Op. Margin
-31.72%
▼ -4.9pp YoY
ROIC
-14.35%
▼ -2.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$53M
▼ -21.2% YoY
Op. Cash Flow (TTM)
-$28M
▲ +57.9% YoY
Net Debt
$97M
Cash & Equiv.
$10M
3Y CAGR: -21.7%
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Is Largo (LGO) overvalued?
Largo (LGO)'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, Largo scores 0/100 on Intrinsiqq's quality scorecard (a lower-quality 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 Largo a high-quality business?+
Largo scores 0 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a -31.7% operating margin and a -14.4% 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 Largo a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh LGO's valuation and scores 0/100 on quality (lower-quality). 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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