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    Industrial Materials
Largo Inc.

Largo Inc.

LGO.TO
Largo Inc.CA flagToronto Stock Exchange
1.04
CAD
-0.08
- -
77.24MMarket Cap
Largo Inc.
LGO.TO
(Toronto Stock Exchange)

Recent

price

1.04

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
- -
- -
- -
0.33
1.56
2.85
7.34
1.96
2.13
3.1
3.56
3.1
1.93
1.61
1.47
Revenue per Share
-0.91
-0.97
-3.78
-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
Basic EPS, GAAP
-5.5
-11
-12.86
-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
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-9.72
20.4
23.65
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
Book Value per Share
18.54
24.39
27.03
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
Tangible Book Value per Share
3
4
7
9
10
17
39
47
52
53
56
64
64
64
65
68
74
Basic Weighted Avg Shares
- -
- -
- -
- -
- -
5
60
133
383
105
120
198
229
199
125
110
109
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
-453.83
-55.79
20.13
69.91
-8.07
14.84
18.52
6.84
-8.19
-37.05
-41.92
-35.05
Operating Margin (%)
- -
- -
- -
- -
- -
6
25
26
23
24
18
23
23
29
29
22
23
Depreciation Expense
-2
-4
-25
-11
-45
-94
-41
-8
232
-27
7
23
-1
-30
-50
-69
-66
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
2.08
- -
12.46
28.93
155.11
- -
- -
- -
- -
Effective Tax Rate (%)
- -
- -
- -
- -
- -
-1,710
-68.48
-6.21
60.6
-25.66
5.63
11.38
-0.63
-15.27
-39.89
-62.34
-60.27
Profit Margin (%)
- -
2
50
7
-51
-58
-46
-26
99
78
93
118
115
95
-21
-76
-73
Working Capital
1
2
49
139
145
128
169
133
- -
- -
- -
2
37
76
18
- -
- -
LT Debt
47
95
181
108
82
24
20
59
288
272
247
266
275
256
171
137
156
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
83.25
- -
5.73
9.35
-2.87
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
80.57
- -
2.34
6.29
-0.4
- -
- -
- -
- -
Return on Capital (%)
- -
- -
-21.29
-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
Return on Common Equity (%)

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
89
118

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
- -
- -
- -
- -
- -
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Business
Largo Inc. is a Canada-based producer and supplier of high-quality vanadium and ilmenite products for infrastructure, energy, aerospace, defense, steel and industrial applications worldwide. Founded in 1988 and headquartered at First Canadian Place, 100 King Street West, Suite 1600, Toronto, Ontario, the company operates through segments including Sales & Trading, Mine Properties, Corporate, Exploration and Evaluation Properties, Largo Clean Energy and Largo Physical Vanadium; it sources products from its vertically integrated Maracás Menchen Mine in Brazil. Core offerings comprise VPURE+ vanadium flakes for master alloys and aerospace applications; VPURE and VPURE+ vanadium flakes, ferrovanadium and vanadium carbon nitride for steel production; VPURE+ vanadium powder for catalysts; ilmenite concentrate; and renewable energy storage solutions via vanadium redox flow batteries through Largo Clean Energy and its VCHARGE technology. Largo maintains geographic operations centered on mining and processing in Brazil, sales and trading globally, and clean energy development in the United States and Canada, targeting steel manufacturers, aerospace firms, chemical producers and utility-scale energy storage providers. The company holds a 50% stake in Storion Energy, a joint venture with Stryten Energy, focused on vanadium flow battery electrolyte production. In recent developments, Largo completed a US$23.4 million registered direct offering and concurrent private placement in October 2025, including commitments from Arias Resource Capital Fund III L.P.; signed a strategic supply agreement with TerraFlow Energy LLC for vanadium electrolyte and battery stacks; secured an electrolyte lease for a 48 MWh flow battery project in Texas via Storion; deferred US$84.2 million in principal debt repayments with Brazilian banks to March 2026; and initiated installation of additional flotation cell circuits to boost ilmenite production capacity to 115,000 tonnes annually from 42,000 tonnes.