Legacy Iron Ore Limited

LCY.AX

Other Precious Metals · Basic Materials

Price

A$0.00

+0.00 (+0.00%)

Market Cap

A$39.0M

Exchange

Australian Securities Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Share count rising — dilution

+52.4% over 4y

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

Diluted shares outstanding: 6.41B (2022) → 9.76B (2026)

Winston Score History

The full picture

Legacy Iron Ore Limited is a small Australian mining exploration company focused on finding and developing iron ore deposits. It holds mineral tenements in Western Australia, one of the world's most iron-ore-rich regions. The company is in the exploration stage, meaning it is searching for and testing deposits rather than actively mining and selling ore.

Legacy earns very little revenue from operations, which explains why its operating margin is deeply negative despite a high gross margin on minimal sales. The company is funded primarily through share issuances rather than product sales, which is typical for early-stage junior miners. The main risk is that exploration companies like Legacy must continually raise capital to fund drilling and studies, and there is no guarantee any deposit will prove large enough or economical enough to develop into a producing mine.

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

+195.9% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+116.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

93.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$10M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Strong grower

Legacy Iron Ore Limited is growing revenue at 196% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

97.8%

Premium pricing power — 97.8% gross margin

Profit after running costs

Operating Margin

-3.9%

Losing money on operations — -3.9%

Return on the money invested

ROCE

-17.0%

Weak — -17.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+104.4%

Fast-growing sales (+104.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

4.4%

Thin free cash flow (4.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

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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