Serabi Gold

SBI.TO

Gold · Basic Materials

Also trades as: SRBIF

Price

C$6.00

+0.05 (+0.84%)

Market Cap

C$457.8M

Exchange

Toronto Stock Exchange

Winston Score

Winston is happy

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

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

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Strong

Dividends

Weak

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Share count falling — buybacks

−1.6% over 4y

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

Diluted shares outstanding: 77.0M (2021) → 75.7M (2025)

Winston Score History

The full picture

Serabi Gold is a gold mining company that digs gold out of the ground in the Tapajós region of northern Brazil. It operates two underground mines — Palito and Coringa — and sells the gold it produces to refiners and bullion buyers. The company is small but focused entirely on high-grade underground gold mining in a region of Brazil that has been mined for centuries.

Serabi makes money by selling gold at market prices, so its revenue rises and falls with the gold price. It operates only in Brazil, making it a single-country, single-commodity business with a market cap around $500 million. The company's edge comes from its established permits, local expertise, and high ore grades, which help keep costs relatively low — reflected in its strong operating margins. The main risk is that it relies on just two mines, so any operational disruption or permitting issue in Brazil could meaningfully hurt production and revenue.

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

→ Flat

Insider ownership roughly steady over the past year

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.

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

59.5%

Premium pricing power — 59.5% gross margin

Profit after running costs

Operating Margin

53.5%

Excellent — 53.5% operating margin

Return on the money invested

ROCE

42.5%

Exceptional — 42.5% 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

+76.2%

Fast-growing sales (+76.2% YoY)

Profit growth

EPS YoY

+100.6%

Earnings growing fast (+100.6% YoY)

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

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

121%

Turns 121% of profit into real cash

Spare cash per sale

FCF Margin

22.8%

Converts sales into free cash efficiently (22.8%)

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

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

179.34x

Comfortably covers interest (179.3x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

5.0x

Attractive valuation — P/E 5.0

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

Cheaper or dearer next year

P/E vs Forward

+1.8

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

0.02%

Small dividend — 0.02% yield

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

Dividend record

Dividend Growth

N/A

no trend

Data not available

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