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Sylvania Platinum Limited

SAPLF
75
Other Precious Metals · Basic Materials
Price
$1.23
+0.01 (+0.82%)
Market Cap
$318.4M
Exchange
Other OTC
Winston Score
75
Winston is happy
A high-quality business with solid fundamentals.
Data as of Sep 8, 2026 · filings through Dec 31, 2025

§How the score breaks down

Quality
Strong
Growth
Good
Cash Flow
Good
Stability
Exceptional
Valuation
Exceptional
Dividends
Good

Share count falling — buybacks

6.1% over 4y

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

Diluted shares outstanding: 277.8M (2021) → 260.9M (2025)

§Winston Score History

The full picture

Sylvania Platinum Limited primarily focuses on reprocessing chrome mining waste, known as tailings, to recover platinum group metals (PGMs) in South Africa and Mauritius. The company's output primarily consists of platinum, palladium, and rhodium. Its operational footprint includes the Sylvania dump operations, which comprise six dedicated plants for chrome beneficiation and PGM extraction, strategically located across the Eastern and Western Limbs of the Bushveld Igneous Complex. Beyond these active sites, Sylvania Platinum Limited is also progressing several mineral asset development projects, notably the Volspruit and Northern Limb projects, both situated on the Northern Limb of the Bushveld Igneous Complex in South Africa. The company was founded in 2010 and maintains its corporate headquarters in Hamilton, Bermuda.

Growth Profile

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

Revenue Growth

+111.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+228.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Cash Position

Cash flow positive

$57M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue accelerating

Sylvania Platinum Limited grew revenue 111% 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
47.7%
Healthy — 47.7% gross margin
Profit after running costs
Operating Margin
46.6%
Excellent — 46.6% operating margin
Return on the money invested
ROCE
23.0%
Exceptional — 23.0% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+77.6%
Fast-growing sales (+77.6% YoY)
Profit growth
EPS YoY
+232.0%
Earnings growing fast (+232.0% YoY)

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

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
94%
Modest — 94% of profit becomes cash
Spare cash per sale
FCF Margin
3.5%
Thin free cash flow (3.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.00
Conservative — low debt load (0.00)
Covers its interest
Interest Cover
85.30x
Comfortably covers interest (85.3x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
8.8x
Attractive valuation — P/E 8.8

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

Cheaper or dearer next year
P/E vs Forward
+4.3
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (8.8 → 4.5)

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Dividends

Dividend
Dividend Yield
8.68%
Healthy income — 8.68% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
-38.0%
Dividend cut (-38.0% YoY) — warning sign

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