Latest Ratios: P/E Ratio -206.3x · EV/EBITDA N/A · ROE -5.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $621M | $192M | $27M | $52M | $51M | $38M | $27M | $39M | $22M | $17M |
| Enterprise Value | $1.0B | $590M | $176M | $15M | $33M | $30M | $38M | $27M | $41M | $24M | $19M |
| P/E Ratio → | -206.25 | — | — | — | 135.25 | — | — | — | 45.31 | — | — |
| P/S Ratio | 27.40 | 15.81 | 12.87 | 3.08 | 4.69 | 6.61 | 7.23 | 3.21 | 4.37 | 2.11 | 1.41 |
| P/B Ratio | 6.37 | 4.40 | 6.72 | 1.05 | 1.62 | 1.58 | 5.27 | 3.14 | 3.46 | 2.08 | 1.48 |
| P/FCF | — | — | 107.40 | — | — | — | — | — | — | 61.43 | — |
| P/OCF | — | — | 86.57 | — | — | — | — | — | — | 30.10 | 39.36 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 15.04 | 11.76 | 1.72 | 2.99 | 3.88 | 7.22 | 3.24 | 4.58 | 2.30 | 1.58 |
| EV / EBITDA | — | — | — | — | 26.25 | 136.18 | — | — | 28.49 | 2559.89 | 102.52 |
| EV / EBIT | — | — | — | — | 94.78 | — | — | — | 64.53 | — | — |
| EV / FCF | — | — | 98.20 | — | — | — | — | — | — | 66.99 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -4.3% | -4.3% | 23.2% | -38.5% | 18.1% | 10.8% | 3.9% | -9.9% | 0.0% | 2.7% | 4.5% |
| Operating Margin | -22.6% | -22.6% | -16.0% | -81.3% | 3.2% | -8.5% | -63.1% | -45.4% | 6.1% | -9.4% | -6.9% |
| Net Profit Margin | -11.1% | -11.1% | -11.6% | -73.0% | 3.9% | -0.8% | -62.8% | -44.4% | 9.7% | -11.1% | -11.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -5.1% | -5.1% | -6.4% | -22.1% | 1.3% | -0.3% | -42.0% | -36.9% | 8.0% | -10.4% | -11.0% |
| ROA | -4.6% | -4.6% | -5.5% | -20.2% | 1.2% | -0.3% | -24.4% | -23.5% | 5.0% | -6.5% | -7.3% |
| ROIC | -10.8% | -10.8% | -13.9% | -39.6% | 2.1% | -5.4% | -31.3% | -25.6% | 3.2% | -5.6% | -4.4% |
| ROCE | -10.2% | -10.2% | -8.3% | -23.7% | 1.1% | -3.2% | -35.6% | -31.6% | 4.0% | -7.0% | -5.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.06 | 0.00 | 0.01 | 0.01 | 0.09 | 0.04 | 0.17 | 0.19 | 0.18 |
| Debt / EBITDA | — | — | — | — | 0.25 | 0.98 | — | — | 1.32 | 215.33 | 11.09 |
| Net Debt / Equity | — | -0.22 | -0.58 | -0.47 | -0.59 | -0.65 | -0.00 | 0.03 | 0.16 | 0.19 | 0.18 |
| Net Debt / EBITDA | — | — | — | — | -14.91 | -95.86 | — | — | 1.28 | 212.29 | 11.03 |
| Debt / FCF | — | — | -9.20 | — | — | — | — | — | — | 5.55 | — |
| Interest Coverage | — | — | — | — | 23.00 | -9.92 | -181.69 | -45.88 | 6.41 | -9.60 | -5.29 |
Net cash position: cash ($30M) exceeds total debt ($185048)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.38 | 5.38 | 5.16 | 15.68 | 9.74 | 11.38 | 0.40 | 0.32 | 0.54 | 0.40 | 0.50 |
| Quick Ratio | 4.15 | 4.15 | 4.85 | 14.14 | 9.12 | 10.87 | 0.26 | 0.16 | 0.33 | 0.16 | 0.25 |
| Cash Ratio | 3.00 | 3.00 | 4.54 | 13.34 | 8.70 | 10.44 | 0.21 | 0.09 | 0.02 | 0.01 | 0.00 |
| Asset Turnover | — | 0.26 | 0.43 | 0.31 | 0.32 | 0.22 | 0.39 | 0.60 | 0.51 | 0.60 | 0.67 |
| Inventory Turnover | 3.27 | 3.27 | 9.21 | 8.68 | 6.58 | 6.55 | 7.74 | 14.51 | 11.96 | 10.88 | 13.27 |
| Days Sales Outstanding | — | 39.17 | 28.26 | 26.25 | 25.92 | 41.99 | 16.64 | 12.56 | 33.87 | 12.94 | 16.95 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 2.9% | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 0.7% | — | — | — | 2.2% | — | — |
| FCF Yield | — | — | 0.9% | — | — | — | — | — | — | 1.6% | — |
| Buyback Yield | 0.0% | 0.1% | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.1% | 0.0% | 2.9% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $124M | $109M | $108M | $106M | $103M | $73M | $69M | $68M | $67M | $67M |
Feedstock cost volatility
According to current market data, UAMY trades at a price-to-sales multiple of 26.31, a valuation that appears disconnected from the company's negative profitability and suggests investors are pricing in a significant geopolitical scarcity premium rather than reflecting the underlying industrial processing economics of the business.
The forward P/E of 139.40 implies an aggressive expectation for future earnings growth that remains unsupported by the company's historical inability to maintain positive margins. This valuation suggests the market is treating the stock as a strategic option on domestic supply chain independence rather than a traditional industrial entity.
As reported in recent financial statements, UAMY's gross margin plummeted to -70.3% in 2026Q1, indicating that the company's cost of production is currently exceeding its revenue generation, a trend that highlights deep-seated operational inefficiencies compared to the broader industrial materials sector's typical margin profiles.
The persistent negative operating margin of -110.8% suggests that the company's overhead and processing costs are not scaling with revenue, effectively turning every incremental dollar of sales into a net loss. Investors should monitor whether management can achieve any semblance of operating leverage, as current figures suggest the business model is fundamentally challenged by its reliance on third-party feedstock.
Based on quarterly filings, UAMY's ROIC has deteriorated to -4.7% as of 2026Q1, reflecting a consistent failure to generate value from the significant capital investments made into its Montana and Idaho processing infrastructure over the past several years of operation.
The negative return on capital indicates that the company is effectively destroying shareholder value with every dollar invested in its processing assets. This trend warrants further investigation into whether the current capital expenditure program is capable of ever reaching a break-even point, given the lack of vertical integration.
As evidenced by the 2026Q1 data, the company's cash conversion cycle has extended to 115 days, a significant increase from the 34 days observed in 2024Q2, suggesting that UAMY is facing mounting difficulties in managing its inventory turnover and receivables collection during periods of high operational activity.
The sharp rise in days inventory outstanding to 135 days suggests that the company may be accumulating unsold product or struggling to move finished goods through the supply chain efficiently. This inefficiency ties up critical liquidity, exacerbating the company's reliance on its dwindling cash reserves to fund ongoing operations.
Market participants frequently misapply revenue growth as a primary indicator of success for UAMY, ignoring the reality that in a toll-processing model, top-line expansion without positive gross margins merely accelerates the rate of cash burn rather than signaling a path toward long-term corporate sustainability.
Investors should prioritize the 'feedstock spread'—the difference between raw material costs and finished product prices—over headline revenue growth. Focusing on revenue growth obscures the structural risk that the company is essentially subsidizing its customers by selling finished goods at prices that fail to cover the underlying cost of procurement.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying UAMY stock.
United States Antimony Corporation's current P/E ratio is -206.3x. The historical average is 64.6x.
United States Antimony Corporation's return on equity (ROE) is -5.1%. The historical average is -14.1%.
Based on historical data, United States Antimony Corporation is trading at a P/E of -206.3x. Compare with industry peers and growth rates for a complete picture.
United States Antimony Corporation has -4.3% gross margin and -22.6% operating margin.