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Strategic Elements

SOR.AX
23
Asset Management · Financial Services
Price
A$0.04
+0.00 (+0.00%)
Market Cap
A$20.7M
Exchange
Australian Securities Exchange
Winston Score
23
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Weak
Growth
Good
Cash Flow
Weak
Stability
Data not available
Valuation
Data not available

Share count rising — dilution

+34.3% over 4y

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

Diluted shares outstanding: 348.8M (2021) → 468.5M (2025)

Winston Score History

The full picture

Strategic Elements Ltd functions as an investment firm, concentrating its efforts on entities involved in the exploration for rare earth elements and rare metals, as well as the creation of advanced materials. Through its wholly-owned division, Strategic Materials Pty Limited, the company possesses complete ownership of five approved mineral exploration licenses located across New Zealand's South Island, Queensland, and New South Wales, with an additional application submitted for a license in Western Australia. Furthermore, its subsidiary, Australian Advanced Materials Pty Ltd, is dedicated to commercializing intellectual property related to the spectral, electronic, or magnetic characteristics of rare earth elements through licensing arrangements. Established in 2006, the company's primary operations are situated in South Perth, Australia.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+83.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+26.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

A$0/ year

Research and development spending

Cash Runway

~12 months

A$3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Strategic Elements grew revenue 84% 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
46.6%
Healthy — 46.6% gross margin
Profit after running costs
Operating Margin
-149.0%
Losing money on operations — -149.0%
Return on the money invested
ROCE
-72.0%
Weak — -72.0% 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
+28.3%
Fast-growing sales (+28.3% 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
-162.0%
Burning cash (-162.0%)

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
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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