AltynGold

ALTN.L

Gold · Basic Materials

Price

1,230.00 GBp

+5.00 (+0.41%)

Market Cap

£336.2M

Exchange

London Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Strong

Stability

Exceptional

Valuation

Strong

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Winston Score History

The full picture

AltynGold plc is a gold mining company based in the United Kingdom that operates in Kazakhstan. It mines gold ore from its Sekisovskoye deposit in northeastern Kazakhstan, processes it on-site, and sells refined gold. The company is small but has been steadily growing its production output at this single mine.

AltynGold makes money by selling physical gold, which is priced on global commodity markets. Because gold is a commodity, the company has little control over the price it receives — its profitability depends heavily on keeping mining costs low, which its strong operating margins suggest it has done reasonably well. The business operates entirely in Kazakhstan, which introduces political and regulatory risk tied to a single country and a single asset. The key growth driver is expanding production capacity at Sekisovskoye, but relying on one mine means any operational disruption — flooding, equipment failure, or permitting issues — could significantly impact the entire business.

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

+85.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+95.5% 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

66.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$34M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

AltynGold grew revenue 86% 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

+0.0% over 4y

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

Diluted shares outstanding: 27.3M (2021) → 27.3M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

53.0%

Healthy — 53.0% gross margin

Profit after running costs

Operating Margin

46.9%

Excellent — 46.9% operating margin

Return on the money invested

ROCE

45.3%

Exceptional — 45.3% 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 growth

Sales YoY

+82.2%

Fast-growing sales (+82.2% YoY)

Profit growth

EPS YoY

+113.5%

Earnings growing fast (+113.5% YoY)

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

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

81%

Modest — 81% of profit becomes cash

Spare cash per sale

FCF Margin

18.3%

Converts sales into free cash efficiently (18.3%)

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

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Stability

What it owes vs what it owns

Debt / Equity

0.27

Conservative — low debt load (0.27)

Covers its interest

Interest Cover

19.03x

Comfortably covers interest (19.0x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

6.0x

Attractive valuation — P/E 6.0

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

Cheaper or dearer next year

P/E vs Forward

+0.6

GROWING

Earnings roughly flat

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Dividends

Not applicable for this business.

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