Company Overview
United States Antimony Corporation is engaged in the production and sale of antimony, zeolite, and precious metals within the United States and Canada, operating specifically through two distinct business segments focused on antimony and zeolite. The company functions within the Basic Materials sector, specifically the industry of Other Industrial Metals & Mining, a classification that highlights its role in supplying essential raw materials required for manufacturing processes such as flame retardant applications involving antimony trioxide. As of the latest available data, the enterprise holds a market capitalization of $1.21B while generating annual revenue of $39.26M and employing a workforce of 100 individuals. These valuation and revenue figures indicate that the company operates as a mid-to-large-cap entity within its niche, possessing significant market capitalization relative to its revenue stream, which suggests a market premium often associated with companies holding substantial mineral reserves or unique distribution channels. The disparity between the $1.21B market cap and the $39.26M revenue base reflects the market's pricing of future asset potential and resource ownership rather than current operational earnings.
Financial Health
The company reported a trailing twelve-month revenue of $39.26M, yet it recorded a net income of $-4,347,026 and an EBITDA of $-7,632,826, revealing a cost structure where operating expenses significantly exceed gross profits before interest and taxes. This substantial gap between the positive revenue figure and the negative net income and EBITDA indicates that the company is currently operating at a loss, driven by high extraction or processing costs that outweigh the value of the antimony and zeolite sold. Furthermore, the free cash flow stands at $-35,435,596, which signifies a heavy reliance on external capital sources to sustain operations and suggests limited financial flexibility for immediate capital expenditures or debt reduction without additional financing. Regarding profitability metrics, the gross margin is 25.2%, while the operating margin is -29.6% and the profit margin is -11.1%; these figures collectively demonstrate that while the core sales retain a quarter of their value, overheads and general expenses erade operating profits entirely, resulting in a net loss on every dollar of sales. On the balance sheet, the company holds $35.07M in cash against total debt of $243,531, resulting in a debt-to-equity ratio of 0.17, which characterizes the financial structure as highly conservative with minimal leverage compared to equity. The current ratio is 5.38, a figure that indicates a robust short-term liquidity position where current assets are more than five times current liabilities, providing ample coverage for immediate obligations. Finally, the return on equity is -5.1% and the return on assets is -5.9%, metrics that reveal that management is currently generating negative returns on the capital invested by shareholders and the total asset base, respectively.
Valuation Assessment
The valuation metrics present a complex picture where the trailing P/E ratio is listed as N/A due to negative earnings, while the forward P/E is 21.64; this divergence implies that the market is pricing the stock based on expected future profitability rather than current performance. The price-to-book ratio stands at 8.59, indicating that the market values the company at a significant premium of 8.59 times its book value, which often reflects expectations of untapped resource value or future growth potential not yet realized in financial statements. Alternative valuation measures such as the price-to-sales ratio of 30.87 and an EV/EBITDA of -148.55 further underscore the disconnect between current operational losses and the high stock valuation, suggesting investors are paying heavily for anticipated asset appreciation or strategic positioning. In terms of trading range, the stock has a 52-week high of $19.71 and a 52-week low of $1.69, meaning the current price sits in a wide band relative to this historical range, exhibiting significant volatility over the last year. The beta value is 0.05, which indicates that the stock price exhibits extremely low volatility relative to the broader market, moving independently of general market trends and suggesting a specific investment driver unrelated to broad economic cycles.
Growth & Income
Revenue growth year-over-year is recorded at 131.4%, whereas earnings growth is N/A due to the company's current loss position; this disparity implies that while top-line sales are expanding rapidly, the bottom line has not yet benefited from this expansion, likely due to the scale of initial capital deployment or high fixed costs in the mining sector. Regarding income distribution, the dividend yield is N/A and the payout ratio is 0.0%, confirming that the company does not distribute dividends to shareholders. Consequently, the company reinvests all available earnings, including its cash reserves, back into the business to fund exploration, development, or operational scaling rather than providing passive income. The overall growth and income profile is characterized by aggressive revenue expansion coupled with a complete absence of dividend payments, reflecting a growth-oriented strategy typical of resource exploration companies in the early to middle stages of development.