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Largo Inc., together with its subsidiaries, produces, supplies, and sells vanadium and ilmenite products in Canada and internationally. It operates through six segments: Sales and Trading; Mine Properties; Corporate; Exploration and Evaluation Properties; Clean Energy; and Largo Physical Vanadium. The company offers vanadium pentoxide flakes and powder, vanadium trioxide powder, and ferrovanadium, as well as ilmenite concentrate; and vanadium flow battery electrolyte and technology. Its products are used in steel, aerospace, defense, chemical and catalysts, master alloys, and titanium dioxide production applications. The company was formerly known as Largo Resources Ltd. and changed its name to Largo Inc. in November 2021. Largo Inc. was incorporated in 1988 and is headquartered in Toronto, Canada.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Largo Resources operates the Maracás Menchen vanadium mine and processing complex in Brazil, producing vanadium pentoxide and ferrovanadium for steel and energy markets. Long-term growth drivers include structural demand in rebar, rising interest in vanadium redox flow batteries, capacity expansions and tight global supply; these factors may benefit investors seeking exposure to critical battery and alloy metals.
Key risks are vanadium price volatility, concentration at a single Brazilian mine with operational and regulatory exposure, and execution and financing risk for capacity and energy-storage development.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -51.67M | -71.25M | -35.06M | 4.04M | 31.76M |
| Minority interest | 0.23M | 0.74M | 0.66M | 0.78M | - |
| Net income | -68.51M | -49.83M | -30.34M | -2.23M | 22.57M |
| Selling general administrative | 23.09M | 23.05M | 34.50M | 34.11M | 25.48M |
| Selling and marketing expenses | - | - | 2.63M | - | - |
| Gross profit | -22.75M | -20.90M | 23.93M | 59.53M | 65.27M |
| Reconciled depreciation | 22.00M | 28.68M | 28.58M | 23.28M | 22.51M |
| Ebit | -38.53M | -61.78M | -25.43M | 16.97M | 36.97M |
| Ebitda | -16.54M | -33.11M | 3.82M | 40.25M | 59.48M |
| Depreciation and amortization | 22.00M | 28.68M | 29.25M | 23.28M | 22.51M |
| Operating income | -46.06M | -46.28M | -16.28M | 16.97M | 36.97M |
| Other operating expenses | 155.95M | 171.20M | 214.96M | 213.21M | 161.57M |
| Interest expense | 13.14M | 9.46M | 9.63M | 1.46M | 0.98M |
| Tax provision | 17.06M | -20.68M | -1.21M | 6.26M | 9.19M |
| Interest income | 0.28M | 1.52M | 2.05M | 1.11M | 0.40M |
| Net interest income | -12.86M | -7.94M | -4.34M | -0.54M | -0.72M |
| Income tax expense | 17.06M | -20.68M | -2.70M | 6.26M | 9.19M |
| Total revenue | 109.89M | 124.92M | 198.68M | 229.25M | 198.28M |
| Total operating expenses | 23.31M | 25.38M | 40.20M | 43.49M | 28.56M |
| Cost of revenue | 132.64M | 145.82M | 174.76M | 169.72M | 133.01M |
| Total other income expense net | -5.61M | -24.96M | -18.78M | -12.93M | -5.21M |
| Net income from continuing ops | -68.74M | -50.56M | -34.69M | -2.23M | 22.57M |
| Net income applicable to common shares | - | - | - | -1.45M | 22.57M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 318.75M | 318.67M | 396.39M | 355.75M | 313.91M |
| Intangible assets | 1.41M | 2.25M | 6.15M | 7.26M | 3.93M |
| Other current assets | 7.76M | 13.91M | 6.50M | 14.48M | 7.18M |
| Total liab | 182.22M | 147.44M | 141.90M | 81.20M | 48.21M |
| Total stockholder equity | 130.35M | 164.82M | 247.38M | 265.39M | 265.70M |
| Other current liab | 128.98M | 88.72M | 6.83M | 32.69M | 6.59M |
| Common stock | 423.28M | 412.74M | 410.19M | 411.65M | 415.98M |
| Capital stock | 423.28M | 412.99M | 412.30M | 411.65M | 415.98M |
| Retained earnings | -187.33M | -126.50M | -77.25M | -48.23M | -49.33M |
| Other liab | - | - | - | 4.75M | 4.56M |
| Other assets | - | - | 0.00M | 4.60M | 3.34M |
| Cash | 9.72M | 22.11M | 43.20M | 54.47M | 83.79M |
| Total current liabilities | 153.93M | 114.26M | 42.24M | 38.97M | 41.67M |
| Current deferred revenue | 3.54M | 3.89M | 3.53M | 1.70M | 5.47M |
| Net debt | -9.72M | -4.61M | 32.93M | -12.42M | -66.24M |
| Short term debt | - | - | 0.60M | 4.58M | 15.56M |
| Short long term debt | - | - | - | 4.00M | 15.00M |
| Short long term debt total | - | 17.50M | 76.13M | 42.05M | 17.55M |
| Other stockholder equity | 17.84M | 12.10M | -0.00M | 14.14M | 17.81M |
| Property plant equipment | - | - | - | 189.75M | 146.66M |
| Total current assets | 78.05M | 93.29M | 136.42M | 154.14M | 159.98M |
| Long term investments | 4.64M | 0.00M | - | - | - |
| Net tangible assets | - | - | - | 258.13M | 261.77M |
| Net receivables | 11.06M | 9.74M | 25.47M | 20.98M | 23.68M |
| Long term debt | - | 17.50M | 75.00M | 36.00M | - |
| Inventory | 49.51M | 47.54M | 61.25M | 64.22M | 45.32M |
| Accounts payable | 17.66M | 21.65M | 31.28M | 26.63M | 14.05M |
| Accumulated other comprehensive income | -123.44M | -133.53M | -85.56M | -112.17M | -118.77M |
| Non currrent assets other | 37.77M | 30.30M | 18.58M | 14.51M | - |
| Non current assets total | 240.71M | 225.38M | 259.97M | 201.61M | 153.93M |
| Capital lease obligations | - | 0.00M | 1.52M | 2.05M | 2.55M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -42.23M | -79.86M | -60.15M | -27.40M |
| Change to liabilities | - | - | - | 1.41M | 4.06M |
| Total cashflows from investing activities | -26.44M | -42.23M | -62.88M | -60.15M | -27.40M |
| Net borrowings | 14.79M | 16.68M | 34.42M | 24.43M | -10.02M |
| Total cash from financing activities | 23.89M | 12.04M | 29.13M | 26.43M | -6.90M |
| Change to operating activities | - | - | - | -7.23M | -3.15M |
| Net income | -68.74M | -50.56M | -32.36M | -2.23M | 22.57M |
| Change in cash | -12.39M | -20.61M | -11.76M | -29.32M | 4.64M |
| Begin period cash flow | 22.11M | 42.71M | 54.47M | 83.79M | 79.14M |
| End period cash flow | 9.72M | 22.11M | 42.71M | 54.47M | 83.79M |
| Total cash from operating activities | -10.22M | 11.16M | 21.20M | 3.46M | 39.78M |
| Issuance of capital stock | 21.68M | 0.00M | 0.00M | 0.28M | 3.16M |
| Depreciation | 22.00M | 28.68M | 29.25M | 23.28M | 22.51M |
| Other cashflows from investing activities | 1.00M | - | -9.18M | - | - |
| Dividends paid | 0.00M | 0.00M | 0.00M | 0.00M | - |
| Change to inventory | -15.71M | -5.84M | 1.29M | -15.71M | -11.05M |
| Change to account receivables | -0.59M | 14.10M | -3.86M | 3.57M | -8.60M |
| Sale purchase of stock | - | - | 0.00M | -6.09M | - |
| Other cashflows from financing activities | -12.57M | -4.64M | -5.29M | 62.81M | 14.96M |
| Change to netincome | - | - | - | -0.59M | 10.13M |
| Capital expenditures | 27.44M | 42.23M | 53.70M | 45.64M | 27.40M |
| Change in working capital | -9.11M | 7.92M | 11.86M | -17.96M | -15.59M |
| Stock based compensation | 2.29M | 1.32M | -0.36M | 2.37M | 3.13M |
| Other non cash items | 26.28M | 44.48M | 15.50M | -8.27M | -2.04M |
| Free cash flow | -37.66M | -31.07M | -32.51M | -42.18M | 12.38M |
Sector: Basic Materials Industry: Other Industrial Metals & Mining
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| LGO Largo Resources Ltd |
0.00 1.22% |
0.33 | - | 7.83 | 0.56 | 0.53 | 1.42 | 35.51 |
| BHPLF BHP Group Limited |
- -% |
38.90 | 19.59 | 15.20 | 3.72 | 3.95 | 4.00 | 7.44 |
| BHP BHP Group Limited |
2.01 2.57% |
80.14 | 19.28 | 15.06 | 3.66 | 3.92 | 3.99 | 7.42 |
| RTNTF Rio Tinto Group |
- -% |
105.29 | 15.69 | 13.70 | 3.05 | 4.44 | 5.10 | 12.05 |
| RTPPF Rio Tinto Group |
- -% |
83.09 | 13.01 | 11.99 | 2.53 | 2.38 | 2.78 | 6.57 |
Largo Inc., together with its subsidiaries, produces, supplies, and sells vanadium and ilmenite products in Canada and internationally. It operates through six segments: Sales and Trading; Mine Properties; Corporate; Exploration and Evaluation Properties; Clean Energy; and Largo Physical Vanadium. The company offers vanadium pentoxide flakes and powder, vanadium trioxide powder, and ferrovanadium, as well as ilmenite concentrate; and vanadium flow battery electrolyte and technology. Its products are used in steel, aerospace, defense, chemical and catalysts, master alloys, and titanium dioxide production applications. The company was formerly known as Largo Resources Ltd. and changed its name to Largo Inc. in November 2021. Largo Inc. was incorporated in 1988 and is headquartered in Toronto, Canada.
| Name | Title | Year Born |
|---|---|---|
| Mr. Paulo Guimarães Misk | Pres, CEO & Director | 1963 |
| Mr. Ernest M. Cleave C.A., CPA, M.B.A. | Chief Financial Officer | 1969 |
| Mr. Paul Vollant | Director of Sales & Trading | 1984 |
| Mr. Nilson Luciano Chaves | VP of Fin. & Admin. - Brazil | NA |
| Alex Guthrie | Sr. Mang. of External Relations | NA |
| Liz Valente | Gen. Counsel & Corp. Sec. | NA |
| Alvaro Jose Do Carmo Resende | Production Director | NA |
| Mr. David Harris | Corp. Controller | NA |
| Mr. Kurt Menchen | Advisor | 1951 |
| Mr. Daniel R. Tellechea B.Sc., MBA | Interim CEO & Director | 1947 |
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