Talga Group

TLG.AX

Industrial Materials · Basic Materials

Exchange

Australian Securities Exchange

Winston Score

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

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

Talga Group is an Australian mining and materials company focused on graphite. It owns graphite deposits in northern Sweden and is working to turn that raw graphite into a refined product called anode material, which is a key ingredient inside lithium-ion batteries used in electric vehicles and energy storage systems. The company's Swedish project is one of the largest known natural graphite deposits in Europe.

Talga is not yet generating meaningful revenue — its large negative margins reflect a business still in the development and permitting stage, not a producing mine. It is working toward becoming a vertically integrated supplier, meaning it wants to mine, refine, and sell battery-grade graphite material directly to battery and electric vehicle manufacturers, primarily in Europe. The main risk the company faces is the lengthy regulatory approval process for its Swedish mine, which has faced legal and environmental challenges that could significantly delay or prevent production from starting.

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

-42.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+42.2% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

10.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 months

A$14M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Talga Group has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

-10140.4%

Thin — -10140.4% gross margin

Profit after running costs

Operating Margin

-13408.9%

Losing money on operations — -13408.9%

Return on the money invested

ROCE

-52.4%

Weak — -52.4% 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

-4.1%

Shrinking sales (-4.1% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

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

-16935.1%

Burning cash (-16935.1%)

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

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

N/A

Data not available

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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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