Largo Inc.

Largo Inc.

LGO
Largo Inc.US flagNASDAQ Global Select
0.93
USD
-0.03
- -
69.27MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
- -
- -
0.33
1.56
2.85
7.34
1.96
2.13
3.1
3.56
3.1
1.93
1.61
1.47
Basic EPS, GAAP
-1.21
-4.49
-5.6
-1.07
-0.18
4.45
-0.5
0.12
0.35
-0.02
-0.47
-0.77
-1.01
-0.89
Free Cash Flow per Basic Share
-15.74
-7.76
-3.69
-0.61
0.67
4.69
1.25
-1.38
0.19
- -
0.33
0.17
-0.15
-0.29
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
10.1
5.81
1.29
0.28
0.92
6.24
5.93
5.93
5.72
5.64
5.23
4.42
3.47
3.37
Tangible Book Value per Share
12.05
8.14
1.42
0.52
1.26
5.53
5.09
4.3
4.09
4.15
3.9
2.61
1.99
2.08
Basic Weighted Avg Shares
9
10
17
39
47
52
53
56
64
64
64
65
68
74
Sales/Revenue/Turnover
- -
- -
5
60
133
383
105
120
198
229
199
125
110
109
Operating Margin (%)
- -
- -
-453.83
-55.79
20.13
69.91
-8.07
14.84
18.52
6.84
-8.19
-37.05
-41.92
-35.05
Depreciation Expense
- -
- -
6
25
26
23
24
18
23
23
29
29
22
23
Net Income, GAAP
-11
-45
-94
-41
-8
232
-27
7
23
-1
-30
-50
-69
-66
Effective Tax Rate (%)
- -
- -
- -
- -
- -
2.08
- -
12.46
28.93
155.11
- -
- -
- -
- -
Profit Margin (%)
- -
- -
-1,710
-68.48
-6.21
60.6
-25.66
5.63
11.38
-0.63
-15.27
-39.89
-62.34
-60.27
Working Capital
7
-51
-58
-46
-26
99
78
93
118
115
95
-21
-76
-73
LT Debt
139
145
128
169
133
- -
- -
- -
2
37
76
18
- -
- -
Total Equity
108
82
24
20
59
288
272
247
266
275
256
171
137
156
Return on Invested Capital (%)
- -
- -
- -
- -
- -
83.25
- -
5.73
9.35
-2.87
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
80.57
- -
2.34
6.29
-0.4
- -
- -
- -
- -
Return on Common Equity (%)
-8.73
-60.76
-233.34
-254.51
-30.63
125.77
-8.39
2.08
6.44
-0.4
-8.69
-16.04
-26.23
-24.94

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
96
107
108
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
64
84
98
Market Capitalization
136
87
115

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
78
78
89
Cash, Cash Equivalents & STI
8
10
11
Accounts Receivable, Net
13
3
3
Inventories
46
50
58
Total Current Liabilities
157
154
162
Payables & Accruals
57
43
41
ST Debt
96
107
108
Deferred Revenue
3
4
8

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
50.4%
-9.86%
-20.26%
Free Cash Flow
13,104.61%
26,189.12%
-191.6%
Net Income, GAAP
-105.33%
444.06%
37.49%
Sales/Revenue/Turnover
127.12%
3.68%
-12.03%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
42
29
30
24
125
2025
28
26
33
22
110
2026
28
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.2
-0.22
-0.15
-0.19
-0.77
2025
-0.14
-0.09
-0.57
-0.22
-1.01
2026
-0.07
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Jesús Alberto Arias López
Full Time Employees
500
Sector
Basic Materials
Industry
Industrial Materials
Address
55 University Avenue Toronto ON Canada M5J 2H7
IPO Date
Apr 26, 2010
Business
Largo Inc. is a Canada-based company primarily engaged in the production and supply of high-quality vanadium and ilmenite products sourced from its Maracás Menchen Mine in Brazil. Its core product portfolio includes vanadium flakes under the VPURE® and VPURE+® brands, which serve the steel industry, aerospace, defense, and chemical sectors; vanadium powder used in catalysts; and ferrovanadium and vanadium carbon nitride for master alloys. Additionally, Largo produces ilmenite concentrate, ramping up capacity to meet increasing industrial demand. The company also develops and markets vanadium-based energy storage solutions through its subsidiary Largo Clean Energy, focusing on vanadium redox flow battery electrolytes and technology for long-duration renewable energy storage applications. Recent major company developments include a $23.4 million financing round completed in late 2025, comprising a registered direct offering and private placement, to support working capital and debt refinancing initiatives. Largo successfully secured a binding term sheet with five Brazilian banks to defer $84.2 million of principal debt payments until March 2026, with a possible extension to September 2026, contingent on raising at least C$30 million by November 2025. Concurrently, the company is expanding its ilmenite plant capacity from 42,000 tonnes per annum to 115,000 tonnes per annum with commissioning targeted for October 2025. Moreover, Largo's subsidiary Storion Energy signed a strategic electrolyte supply agreement and a 48 MWh vanadium flow battery lease project in Texas, enhancing its position in the clean energy storage sector. Leadership changes were announced in November 2025 with J. Alberto Arias and Daniel Tellechea appointed co-Chief Executive Officers and Diogo Silva promoted to Chief Financial Officer. Founded in 1988, Largo Inc. is headquartered in Toronto, Canada, and operates through six segments including sales and trading, mine properties, corporate, exploration and evaluation properties, Largo Clean Energy, and Largo Physical Vanadium. Its operations are predominantly based in Brazil with global sales of specialized vanadium products and renewable energy storage solutions targeted at industrial customers and energy sectors worldwide. This comprehensive product and service range, combined with strategic financial and operational adjustments, positions Largo Inc. as a leading integrated supplier of critical metals and energy storage technologies with a strong focus on innovation, diversification, and sustainability in global markets.

Company News

APIChat
  • Verdera Energy Commences NI 43-101 Technical Report for the West Largo Project; Hosts Town Hall Conference Call

  • Largo Announces Plans to Evaluate Strategic Alternatives to Maximize Value of Its Tungsten Assets in Canada and Brazil

  • Largo Reports Q1 2026 Financial Results Reflecting Strong Operating Performance at Maracás Menchen Mine and the Impact of High U.S. Import Tariffs on Brazilian Products in Early 2026

  • Largo Reports Strong Production and Sales in Q1 2026; Files Request for Authorization to Produce and Sell Copper, Platinum Group Metals, Nickel and Cobalt as By-Products of Vanadium Operations; and Announces Sole Chief Operating Officer and General Counsel Promotion

  • Largo Reports Fourth Quarter and Full Year 2025 Financial Results Reflecting the Impact of U.S. Tariffs on Q4 2025 Sales; Stronger Operating Momentum with Further Positive Copper-Platinum Group Metals Flotation Test Results and Benefit from Recent U.S. Tariff Relief Entering 2026

  • Stock Traders Buy Large Volume of Largo Put Options (NYSE:LGO)

  • Largo Terminates Previously Announced Iron Ore Calcine Commercial Agreement, Advancing Discussions with Alternative Potential Buyers, and Provides Tariffs and Vanadium Markets Update

  • Luca intersects 136 metres of 1.6 g/t Gold, 77 g/t Silver, 0.9% copper and 1.6% zinc at largo Norte Zone, Campo Morado Mine

  • Largo Provides Update on Status of Iron Ore Calcine Commercial Transaction and Strengthening U.S. and E.U. Ferrovanadium Markets

  • Traders Buy High Volume of Largo Call Options (NYSE:LGO)

  • Largo Reports Q4 and Full Year 2025 Operational and Sales Results; Provides 2026 Outlook and Vanadium Guidance; Reports Positive Precious Metals Results on Recent Copper Flotation Tests.

  • Largo (TSE:LGO) Shares Up 8.2% – Here’s What Happened

  • Largo (TSE:LGO) Stock Price Down 3% – Time to Sell?

  • Largo Reports Third Quarter 2025 Financial Results

  • Vanadium Miners News For The Month Of September 2025

  • Largo Physical Vanadium Announces Results of Annual Meeting

  • Largo Reports Q2 2025 Financial Results; Delivering Cost Reductions and Efficiency Improvements Aiming to Offset Current Vanadium Price Weakness

  • Largo Announces $6 Million Secured Loan to Support Working Capital

  • Largo Physical Vanadium Validates its Unique Leasing Model with 48 MWh Flow Battery Electrolyte Lease; Storion Energy–TerraFlow Energy Supply Agreement Supports Growth

  • Largo Reports Improved Q2 2025 Vanadium Production; Storion Energy to Support 48 MWh Vanadium Flow Battery Deployment in Texas