Serabi Gold

SRBIF

Gold · Basic Materials

Price

$3.50

-0.03 (-0.85%)

Market Cap

$267.1M

Exchange

Other OTC

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Share count falling — buybacks

−1.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 76.7M (2021) → 75.7M (2025)

Serabi Gold is a small gold mining company that digs gold out of the ground in Brazil. It operates underground mines in the Tapajós region of the Brazilian Amazon, specifically the Palito and Coringa projects. The company sells the gold it produces to refiners and bullion dealers, which is typical for gold miners.

Serabi makes money by selling physical gold, so its revenue rises and falls with both gold prices and how much gold it can produce. It is a small producer by global standards, with a market cap around $300 million, but it stands out with unusually strong operating margins above 47% and a high return on invested capital. The main growth driver is expanding output at the Coringa mine, which could meaningfully increase total production. The biggest risks are the operational challenges of underground mining in a remote region and exposure to swings in the gold price, which the company cannot control.

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

+83.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+133.3% 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

29.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$64M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Serabi Gold grew revenue 83% 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

59.5%

Premium pricing power — 59.5% gross margin

Operating Margin

53.5%

Excellent — 53.5% operating margin

ROCE

13.6%

Good — 13.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+76.1%

Fast-growing sales (76.1% YoY)

EPS YoY

+98.3%

Earnings growing fast (98.3% 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

111%

Turns 111% of profit into real cash

FCF Margin

20.3%

Converts sales into free cash efficiently (20.3%)

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

0.01

Conservative — low debt load (0.01)

Interest Cover

200.63x

Comfortably covers interest (200.6x)

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

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Valuation

P/E Ratio (TTM)

4.0x

Attractive valuation — P/E 4.0

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

+0.6

GROWING

Earnings roughly flat

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Dividends

Dividend Yield

0.02%

Small dividend — 0.02% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

N/A

no trend

Data not available

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