Alphamin Resources

AFM.V

Industrial Materials · Basic Materials

Price

C$1.45

+0.02 (+1.40%)

Market Cap

C$1.86B

Exchange

Toronto Stock Exchange Ventures

Winston Score

Winston is happy

An exceptional business — strong profitability, growth, and balance sheet.

Data as of Jul 25, 2026 · filings through Dec 31, 2025

Alphamin Resources Corp. is a mining company that produces tin, a metal used in electronics, soldering, and packaging. Its main operation is the Bisie tin mine located in the Democratic Republic of Congo, which is one of the highest-grade tin deposits in the world. The company sells tin concentrate primarily to smelters and industrial buyers who supply the global electronics manufacturing chain.

Alphamin makes money by mining and selling tin ore concentrate, with revenue tied directly to tin prices on global commodity markets. Despite operating in a politically complex region, the Bisie mine's exceptionally high ore grade gives Alphamin a significant cost advantage over many competing tin producers worldwide. The company's strong operating margin of around 44% reflects that low-cost position. The key growth driver is rising tin demand from the electronics and electric vehicle sectors, but the main risk is the combination of volatile tin prices and the operational and security challenges of working in the DRC.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+247.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+313.5% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

56.8%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$58M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Alphamin Resources grew revenue 248% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.3% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 1.29B (2021) → 1.29B (2025)

Score breakdown

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Quality

Gross Margin

50.8%

Healthy — 50.8% gross margin

Operating Margin

45.6%

Excellent — 45.6% operating margin

ROCE

52.4%

Exceptional — 52.4% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales YoY

+158.8%

Fast-growing sales (158.8% YoY)

EPS YoY

+222.6%

Earnings growing fast (222.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

68%

Modest — 68% of profit becomes cash

FCF Margin

14.8%

Converts sales into free cash efficiently (14.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.12

Conservative — low debt load (0.12)

Interest Cover

36.74x

Comfortably covers interest (36.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

12.1x

Attractive valuation — P/E 12.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+5.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (12.1 → 6.4)

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Dividends

Dividend Yield

11.72%

Healthy income — 11.72% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend Growth

+163.2%

Dividend growing fast (163.2% YoY)

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