Sigma Lithium Corporation

SGML

Industrial Materials · Basic Materials

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

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

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Winston Score History

The full picture

Sigma Lithium Corporation is a Canadian mining company that produces lithium concentrate in Brazil. Lithium is a key ingredient in the batteries that power electric vehicles and consumer electronics. Sigma operates the Grota do Cirilo project in Minas Gerais, Brazil, which is one of the largest hard-rock lithium deposits in the Americas.

The company sells its product — a high-purity lithium concentrate called "Quintuple Zero" — primarily to battery manufacturers and electric vehicle supply chains in Asia and Europe. Sigma generates revenue by mining and processing lithium ore and selling the concentrate directly to industrial buyers. With a gross margin around 30% but nearly breakeven operating margins, the company is still in an early production phase with limited scale. The biggest risk Sigma faces is the volatile price of lithium, which dropped sharply in 2023–2024, squeezing margins industry-wide and making profitability heavily dependent on a commodity price recovery.

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

+24.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+230.9% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

46.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~20 months

$36M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Growth context

Sigma Lithium Corporation is growing revenue at 25% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

55.5%

Premium pricing power — 55.5% gross margin

Profit after running costs

Operating Margin

46.6%

Excellent — 46.6% operating margin

Return on the money invested

ROCE

2.9%

Weak — 2.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-40.5%

Shrinking sales (-40.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

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

N/A

Data not available

Spare cash per sale

FCF Margin

-6.0%

Burning cash (-6.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

1.87

Elevated debt (1.87)

Covers its interest

Interest Cover

0.29x

Dangerous — barely covers interest (0.3x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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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