IMPACT Silver

IPT.V

Silver · Basic Materials

Price

C$0.29

+0.01 (+3.57%)

Market Cap

C$80.9M

Exchange

Toronto Stock Exchange Ventures

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+93.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 144.6M (2021) → 279.3M (2025)

IMPACT Silver Corp. is a Canadian mining company that digs silver, gold, lead, and zinc out of the ground in Mexico. It operates multiple mines and processing facilities in the Zacualpan Silver District in the state of Mexico, a region where the company has been mining for over 15 years. The metals it produces are sold to refiners and smelters, which then supply industries like electronics, jewelry, and manufacturing.

The company makes money by selling the ore and concentrates it extracts, with revenue tied directly to metal prices on global commodity markets. IMPACT Silver operates entirely in Mexico, making it a small, single-country producer with a market cap around $100 million. Its long history in the Zacualpan district gives it local knowledge and established infrastructure, but its low return on invested capital and heavy dependence on silver prices mean that a sustained drop in commodity prices could quickly pressure profitability.

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

+190.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

0.9%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$50M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

IMPACT Silver grew revenue 191% 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

61.6%

Premium pricing power — 61.6% gross margin

Operating Margin

57.3%

Excellent — 57.3% operating margin

ROCE

23.5%

Exceptional — 23.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales YoY

+85.0%

Fast-growing sales (85.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

1585%

Turns 1585% of profit into real cash

FCF Margin

22.0%

Converts sales into free cash efficiently (22.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

356.03x

Comfortably covers interest (356.0x)

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

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Valuation

P/E Ratio (TTM)

N/A

Data not available

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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