Largo Inc. key statistics and ratios

In fiscal 2025, Largo Inc. had return on equity of -46.4%, a net margin of -62.3%, debt equal to 82.1% of equity and a current ratio of 0.51. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Largo Inc.: financial ratios, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	—	100.0%	58.8%	47.9%	45.2%	52.2%
Net margin	5.6%	11.4%	−0.6%	−15.3%	−39.9%	−62.3%
Free-cash-flow margin	−64.7%	6.2%	−16.9%	−16.3%	−24.9%	−34.3%
Return on equity	2.7%	8.8%	−0.5%	−11.8%	−24.1%	−46.4%
Return on assets	2.3%	7.4%	−0.4%	−8.2%	−14.2%	−21.5%
Asset turnover	0.40	0.65	0.68	0.54	0.36	0.34
Current ratio	3.10	3.84	3.96	3.23	0.82	0.51
Debt to equity	10.0%	5.6%	15.1%	30.2%	56.0%	82.1%
Effective tax rate	−12.5%	28.9%	—	—	—	—
R&D as % of revenue	0.0%	1.9%	5.5%	3.1%	2.7%	0.6%
Capital spending as % of revenue	15.1%	13.8%	18.4%	27.0%	33.8%	25.0%
Free cash flow ÷ net income	<−999%	54.8%	—	—	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 5 checks passed · December 31, 2025

What it owns · $319m

Short-term assets $78mLonger-term assets $241m

What it owes, and who funded it · $313m

Short-term liabilities $154mLonger-term liabilities $28mShareholders' equity $130m

Short-term assets cover short-term liabilities $78m of assets due within a year against $154m of liabilities due within a year.
Short-term assets cover long-term liabilities $78m short-term assets against $28m of longer-dated liabilities.
More cash than debt $10m of cash against $107m of debt.
Debt below 40% of shareholders' equity Debt is 82% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$10m of operating cash flow against $107m of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Largo Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Largo Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Largo Inc.