| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | 1 | 1 | — | 2 | — |
| total | individual payouts | |
|---|---|---|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2018 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 10.85 | 4.27 | 48.58 | 38.20 |
| Receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 11.61 | 4.86 | 48.87 | 38.84 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 5.96 | 9.52 | 3.99 | 4.28 |
| ST’ Debt | — | — | 5.97 | 2.24 |
| Other | — | — | — | — |
| 7.78 | 11.76 | 11.62 | 7.56 |
| 10y | 5y | 3y | |
| Sales | — | — | — |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Year |
|---|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (4.04) | (2.51) | — | — |
—
|
| ’25 | (2.31) | (2.36) | (3.26) | (1.96) |
(9.90)
|
| ’24 | (2.78) | (2.40) | 1.42 | (2.05) |
(5.81)
|
| ’23 | (2.96) | (5.96) | (3.27) | 0.76 |
(11.43)
|
| ’22 | (2.70) | (3.21) | (2.68) | (4.59) |
(13.18)
|
| ’21 | (4.85) | (4.28) | (3.91) | (3.88) |
(16.92)
|
| ’20 | (3.45) | (2.61) | (4.07) | (5.05) |
(15.18)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (5.60) | (3.23) | — | — |
—
|
| ’25 | (5.24) | (4.23) | (4.44) | (7.41) |
(21.33)
|
| ’24 | (5.27) | (3.14) | 1.11 | (3.16) |
(10.45)
|
| ’23 | (36.92) | (23.86) | (6.70) | (2.25) |
(69.72)
|
| ’22 | (14.82) | (15.94) | (9.79) | (25.41) |
(65.97)
|
| ’21 | (4.85) | (4.28) | (4.03) | (7.11) |
(20.27)
|
| ’20 | (3.45) | (2.70) | (4.09) | (5.02) |
(15.26)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.04) | (0.03) | — | — |
—
|
| ’25 | (0.04) | (0.05) | (0.12) | (0.10) |
(0.32)
|
| ’24 | (0.05) | (0.07) | (0.05) | (0.04) |
(0.22)
|
| ’23 | (0.05) | (0.07) | (0.07) | 0.04 |
(0.15)
|
| ’22 | (0.08) | (0.07) | (0.07) | (0.04) |
(0.25)
|
| ’21 | (0.19) | (0.11) | (0.13) | (0.07) |
(0.49)
|
| ’20 | (0.82) | (0.43) | (1.23) | (0.42) |
(2.68)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 0.77 | 0.48 | 0.40 | 0.45 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 2.54 | 1.40 | 0.92 | 3.75 | — | — | — |
High Price
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 34 | 24 | 21 | 20 | — | — | — |
Employees
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
Revenue/Emp
|
| — | — | — | — | — | — | — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00% | — | — | — | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (11.12) | (7.75) | (12.66) | (27.33) | — | — | — |
EBT
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00% | 0.00% | 0.00% | 0.00% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (11.12) | (7.75) | (12.66) | (27.33) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.15 | 0.22 | 0.25 | 0.75 | — | — | — |
Depreciation
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.25) | (0.15) | (0.22) | (0.32) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.29) | (0.22) | (0.10) | (0.11) | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.18) | (1.12) | (0.08) | (0.13) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.47) | (1.34) | (0.18) | (0.25) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.16 | 2.70 | 2.27 | 2.11 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 44.91 | 52.04 | 58.54 | 86.02 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| — | — | — | — | — | — | — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
PE Ratio
|
| — | — | — | — | — | — | — | — | — | — | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| — | — | — | — | — | — | — | — | — | — | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| — | — | — | — | — | — | — | — | — | — | ‡‡‡ | ‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (13.18) | (11.43) | (5.81) | (9.90) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (52.79) | (58.29) | (4.64) | (11.43) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (65.97) | (69.72) | (10.45) | (21.33) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 51.03 | 3.84 | (6.90) | 37.25 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.09 | 0.02 | 0.01 | 5.97 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (75.10) | (10.84) | (4.26) | (42.60) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 141.97 | 140.44 | 133.12 | 181.53 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (7.38%) | (4.87%) | (8.55%) | (16.03%) | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (11.33%) | (6.40%) | (5.56%) | (6.54%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (8.29%) | (5.49%) | (9.25%) | (17.37%) | — | — | — |
ROE
|
Westwater Resources (WWR), a pre-revenue graphite developer targeting the EV battery market, embodies classic junior miner risks: decade-long cash burn, relentless equity dilution slashing book value per share by 99%, and zero revenue despite exploration pivots from uranium to graphite. Fundamentals reveal operational inefficiencies—persistent losses, negative free cash flow, and dismal ROE—mirroring historical cycles of hype-driven spikes followed by 99%+ drawdowns, with stock prices tethered to funding volatility rather than production milestones.
Analyst forecasts dazzle with explosive revenue jumps to $31.8 billion in 2024 and beyond, fueled by the delayed Kellyton plant, implying 99% upside to consensus targets from depressed levels. Yet, these projections demand scrutiny amid massive implied capex, share doubling, and absent profitability details, contrasting a fragile balance sheet now flashing negative working capital and no insider buying.
For risk-averse investors, WWR’s speculative allure clashes with execution pitfalls, softening graphite prices, and China supply dominance—echoing past commodity busts. This analysis unpacks the full metrics, projections, and historical parallels to gauge if EV tailwinds can finally deliver, or if dilution devours another cycle.
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