Stanmore Resources Limited

SMR.AX

Coal · Energy

Price

A$2.68

+0.02 (+0.75%)

Market Cap

A$2.42B

Exchange

Australian Securities Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Mixed

Stability

Mixed

Valuation

Data not available

Dividends

Exceptional

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Share count rising — dilution

+33.7% over 4y

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

Diluted shares outstanding: 674.0M (2021) → 901.4M (2025)

Winston Score History

The full picture

Stanmore Resources is an Australian coal mining company that digs up and sells metallurgical coal, also called coking coal. This type of coal is not used for electricity — it is used by steel mills to make steel. Stanmore's main customers are steel producers, mostly in Asia, and its key operations are in Queensland, Australia, including the large Isaac Plains and South Walker Creek mines.

Stanmore earns money by selling coal by the tonne to steel mills under a mix of spot and contract pricing. The company grew significantly after acquiring BHP's Daunia and Blackwater mines in 2022, making it one of Australia's larger independent metallurgical coal producers. Its main competitive strength is access to high-quality coking coal that steel mills need, but its biggest risk is that coal prices are volatile and have fallen sharply from recent highs, which explains why operating margins have turned negative despite strong gross margins.

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

-11.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+121.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

64.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$237M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue declining

Stanmore Resources Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

56.7%

Premium pricing power — 56.7% gross margin

Profit after running costs

Operating Margin

3.2%

Thin — 3.2% operating margin

Return on the money invested

ROCE

-0.4%

Weak — -0.4% 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

-19.6%

Shrinking sales (-19.6% YoY)

Profit growth

EPS YoY

-125.4%

Earnings shrinking (-125.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

15.5%

Converts sales into free cash efficiently (15.5%)

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

0.31

Conservative — low debt load (0.31)

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

Dividend

Dividend Yield

5.20%

Healthy income — 5.20% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+87.1%

Dividend growing fast (87.1% YoY)

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