Forensic Analysis · Energy / Oil & Gas · as of Jun 27, 2026
Almonty Industries Inc. (ALM)
A forensic read on Almonty Industries Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Clean
Earnings quality
3
Forensic signals
-59.2%
ROE
$4.8B
Market cap
Almonty Industries Inc. earns a D (Weak — demands caution) forensic quality grade. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+96.4%Accruals ratio. Net operating assets grew +96.4% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran behind operating cash by -237% of net operating assets.
114dInventory days. Days inventory outstanding moved from 92 to 114 FY2024→FY2025 (against cost of goods sold; inventory +40% vs +12% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
-32%Return on invested capital. Return on invested capital is -32% and rising from -34% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
Key fundamentals
Net Margin-498.0%
Latest Revenue$22.9M
Return on Equity-45.3%
Revenue Growth YoY+12.8%
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The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Almonty Industries Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about ALM's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown
🔒Peer comparison + filing-change monitoring & alerts
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Data from SEC EDGAR public filings · metrics as of Jun 27, 2026. Forensic signals flag probability, not certainty.