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Gold and silver ores company · Z4 · FY ends Dec · -255.01% margin · -$95M FCF
$1.62
+$0.00 (+0.00%)
Price from 5 days ago
The business is unprofitable at the operating level (-255.01% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 19.3% YoY. Margins deteriorated 67.8pp alongside, both lines moving the wrong way.
Negative free cash flow of -$67M. The business is consuming cash, not generating it. Operating margin contracted 67.8pp YoY, cost discipline may be slipping.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (FY)
$27M
▼ -19.3% YoY
Net Income (TTM)
-$93M
▼ -40.8% YoY
Op. Margin
-255.01%
▼ -67.8pp YoY
ROIC
-47.14%
▲ +5.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$95M
▲ +17.6% YoY
Op. Cash Flow (TTM)
-$62M
▲ +40.0% YoY
Net Debt
-$54M
Net Cash Position
Cash & Equiv.
$123M
5Y CAGR: +26.8%
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