Skip to content
MARKETS / NASDAQ / LGO
NASDAQ · MINING & QUARRYING OF NONMETALLIC MINERALS (NO FUELS)

Largo Inc. LGO

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$109.9M
▼ 12.0% YoY
$-68.5M
$-37.7M
In brief

What this company does

Largo supplies vanadium and ilmenite products from its Maracas Menchen Mine. The company markets and distributes its vanadium production under the VPURE and VPURE+ flake and powder product lines. The company sold 8,686 tonnes of V2O5 equivalent, including 299 tonnes of purchased material, in 2025. The company's energy storage business operates through its wholly owned subsidiary, LCE, based in Wilmington, Massachusetts. LCE's business focuses on the manufacturing, sale, installation, and operation and maintenance of Largo's vanadium flow battery technology. The company and its material subsidiaries have approximately 500 persons on staff as employees or consultants, and have retained service providers in Brazil who deploy approximately 800 additional persons. Its operating facilities are located in Brazil and the United States, and its sales and trading functions are located in Ireland, Switzerland and the United States. The company is incorporated under the Business Corporations Act (Ontario) and its common shares are listed on the TSX and Nasdaq under the symbol LGO.

Written from the business description in Largo Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 1 April 2026. Every sentence was checked against that document before publication.

Growth
USD 109.9M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 109.9 · Net income -68.5
80.0M160.0M-25.0M-50.0M202020212022202320242025
Compound annual growth
−21.7%
−1.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −1.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−63 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Net -62.6%
5%10%-20%-40%-60%202020212022202320242025
ROE
FY2025 · ROE -46.4%
5%-20%-40%202020212022202320242025

Each USD of equity lost 46 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -37.7
5M10M-40M202020212022202320242025
Net buybacks $M Dividends $M
FY2022 · Dividends — · Net buybacks 6.1
2.5M5.0M2022

Total assetsUSD 318.8M
EquityUSD 130.4M
CashUSD 9.7M
Gross debtUSD 107.1M
Net debtUSD 97.3M
Current ratio0.51×

Net debt stands at 75% of equity.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.10.10.20.20.20.1
Operating income $B······
EBITDA $B······
Income tax $B0.0−0.0−0.00.00.0−0.0
Net income $B−0.1−0.0−0.0−0.00.00.0
Free cash flow $B−0.0−0.0−0.0−0.00.0−0.1
EPS, diluted $−1.01−0.78−0.51−0.030.350.11
Dividend / sh $······
Payout %······
ROE %−46.4−24.1−11.8−0.58.5·
Shares out B0.080.060.060.060.060.06

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures · 1 divergences in 26 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 65 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures1 divergent
ActivityMining & Quarrying of Nonmetallic Minerals (No Fuels)
Listed onNASDAQ
Incorporated inoutside the United States — SEC code A6
Fiscal year endsnot stated in the filings
SEC categoryemerging growth company
Data on record since2019

Share this section

Download image