Ora Banda Mining Limited

OBM.AX

Gold · Basic Materials

Exchange

Australian Securities Exchange

Winston Score

Winston is happy

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

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

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Strong

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Winston Score History

The full picture

Ora Banda Mining is an Australian gold mining company that digs gold out of the ground in Western Australia. It operates the Davyhurst Gold Project, which includes underground and open-pit mines near Kalgoorlie, one of Australia's most historically rich gold-mining regions. The company sells gold to refiners and bullion dealers, which is the standard end market for gold producers.

Ora Banda makes money by mining gold ore, processing it into doré bars, and selling the gold at market prices. It operates entirely within Western Australia, making it a single-jurisdiction, single-commodity producer. With a gross margin above 40% and a solid return on invested capital, the company appears to be running its mines efficiently relative to its size. The main risk is that gold prices are set by global markets, so a significant drop in the gold price would directly hurt revenue and profits, regardless of how well the company manages its operations.

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

+84.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+720.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

30.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$86M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Ora Banda Mining Limited grew revenue 85% 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

Profit per sale

Gross Margin

46.2%

Healthy — 46.2% gross margin

Profit after running costs

Operating Margin

41.8%

Excellent — 41.8% operating margin

Return on the money invested

ROCE

48.8%

Exceptional — 48.8% 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

+82.1%

Fast-growing sales (+82.1% YoY)

Profit growth

EPS YoY

+261.2%

Earnings growing fast (+261.2% 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

122%

Turns 122% of profit into real cash

Spare cash per sale

FCF Margin

35.7%

Converts sales into free cash efficiently (35.7%)

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

What it owes vs what it owns

Debt / Equity

0.07

Conservative — low debt load (0.07)

Covers its interest

Interest Cover

46.05x

Comfortably covers interest (46.1x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

12.7x

no trend

Attractive valuation — P/E 12.7

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

Cheaper or dearer next year

P/E vs Forward

+4.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (12.7 → 8.2)

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Dividends

Not applicable for this business.

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