What is Largo's operating income?

Largo's total operating income in 2025 was -$59.92 million, based on the following breakdown: Total Gross Profit: -$38.19 million Total Operating Expenses: $21.74 million

Largo (LGO) Financials

$0.62 -0.02 (-2.44%)

Closing price 07/17/2026 04:00 PM Eastern

Extended Trading

$0.64 +0.02 (+3.72%)

As of 07/17/2026 07:36 PM Eastern

Compare

Annual Income Statements for Largo

This table shows Largo's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	6.76	23	-3.00	-30	-50	-68
Consolidated Net Income / (Loss)	6.76	23	-2.23	-32	-51	-69
Net Income / (Loss) Continuing Operations	6.76	23	-2.23	-27	-49	-68
Total Pre-Tax Income	7.72	32	4.04	-35	-71	-52
Total Operating Income	16	31	1.35	-32	-59	-60
Total Gross Profit	122	61	56	15	-32	-38
Total Revenue	120	195	227	199	124	108
Operating Revenue	118	195	227	199	124	108
Total Cost of Revenue	90	134	171	184	155	146
Operating Cost of Revenue	90	134	171	184	155	146
Total Operating Expenses	15	30	54	47	27	22
Selling, General & Admin Expense	3.33	6.40	14	12	5.43	8.31
Research & Development Expense	0.00	3.84	13	6.12	3.39	0.71
Exploration Expense	3.02	2.09	1.94	5.71	2.33	0.22
Other Operating Expenses / (Income)	8.26	18	25	23	16	13
Total Other Income / (Expense), net	-7.92	1.01	2.69	1.84	-11	8.96
Interest & Investment Income	1.15	0.40	1.11	2.02	1.52	0.28
Other Income / (Expense), net	-9.06	0.61	1.58	-0.18	-13	8.68
Income Tax Expense	0.96	9.19	6.27	-2.70	-21	17
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.78	2.02	0.74	0.23
Basic Earnings per Share	$0.12	$0.35	($0.03)	($0.51)	($0.78)	($1.01)
Weighted Average Basic Shares Outstanding	56.40M	64.05M	64.45M	64.04M	64.09M	67.83M
Diluted Earnings per Share	$0.11	$0.35	($0.03)	($0.51)	($0.78)	($1.01)
Weighted Average Diluted Shares Outstanding	61.36M	65.05M	64.45M	64.04M	64.09M	67.83M
Weighted Average Basic & Diluted Shares Outstanding	-	64.73B	64.00B	64.05M	64.11M	83.67M

No quarterly income statements for Largo are available.

This table details how cash moves in and out of Largo's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-89	4.65	-50	-21	-72	-48
Net Cash From Operating Activities	-70	40	27	66	-0.94	71
Net Cash From Continuing Operating Activities	-70	39	27	66	-0.94	71
Net Income / (Loss) Continuing Operations	6.76	23	-2.23	-32	-51	-69
Consolidated Net Income / (Loss)	6.76	23	-2.23	-32	-51	-69
Depreciation Expense	18	23	23	29	29	22
Non-Cash Adjustments To Reconcile Net Income	25	13	47	72	54	122
Changes in Operating Assets and Liabilities, net	-119	-20	-41	-2.84	-33	-4.29
Net Cash From Investing Activities	-18	-27	-42	-54	-42	-27
Net Cash From Continuing Investing Activities	-18	-27	-42	-54	-42	-27
Purchase of Property, Plant & Equipment	-18	-27	-42	-54	-42	-27
Net Cash From Financing Activities	0.00	-6.90	-36	-35	-27	-92
Net Cash From Continuing Financing Activities	0.00	-6.86	-36	-35	-27	-92
Repayment of Debt	0.00	-25	-30	-35	-27	-92
Effect of Exchange Rate Changes	-0.97	-	0.93	0.80	-1.59	0.38
Cash Interest Paid	-	-	0.62	7.07	6.30	13
Cash Interest Received	1.14	-	1.11	2.01	1.48	0.26

No quarterly cash flow statements for Largo are available.

This table presents Largo's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	298	314	356	382	319	319
Total Current Assets	39	160	154	137	101	78
Cash & Equivalents	-	84	54	43	22	9.72
Restricted Cash	0.00	0.45	0.47	0.71	0.53	0.38
Accounts Receivable	-	24	21	26	9.74	11
Inventories, net	35	45	64	62	48	50
Plant, Property, & Equipment, net	143	147	175	212	171	192
Total Noncurrent Assets	110	10	19	14	28	17
Long-Term Investments	-	-	-	-	0.00	4.64
Noncurrent Deferred & Refundable Income Taxes	7.18	3.34	4.60	7.50	22	5.01
Other Noncurrent Operating Assets	79	6.73	14	6.53	5.76	7.38
Total Liabilities & Shareholders' Equity	292	314	356	382	319	319
Total Liabilities	51	48	81	126	147	182
Total Current Liabilities	20	42	39	42	114	154
Short-Term Debt	-	15	4.00	0.00	75	107
Accounts Payable	16	20	27	31	31	43
Current Deferred Revenue	3.22	5.47	1.70	3.55	3.89	3.54
Other Current Liabilities	0.37	1.48	6.64	7.46	4.32	0.80
Total Noncurrent Liabilities	-156	6.54	42	83	33	28
Long-Term Debt	25	0.00	36	75	18	0.00
Capital Lease Obligations	-	1.99	1.47	0.93	0.00	0.00
Other Noncurrent Operating Liabilities	-180	4.56	4.75	7.44	2.04	5.77
Total Equity & Noncontrolling Interests	428	266	275	256	171	137
Total Preferred & Common Equity	428	531	265	249	165	130
Total Common Equity	428	266	265	249	165	130
Common Stock	406	416	412	412	413	423
Retained Earnings	-	-49	-48	-78	-126	-187
Accumulated Other Comprehensive Income / (Loss)	-	-119	-112	-98	-134	-123
Other Equity Adjustments	21	18	14	12	12	18
Noncontrolling Interest	-	0.00	9.16	7.15	6.41	6.18

No quarterly balance sheets for Largo are available.

This table displays calculated financial ratios and metrics derived from Largo's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	64,726,390,000.00	64,004,956,000.00	64,051,362.00	-	83,673,905.00
DEI Adjusted Shares Outstanding	0.00	64,726,390,000.00	64,004,956,000.00	64,051,362.00	-	83,673,905.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.00	-0.46	-	-0.82
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	62.64%	16.26%	-12.27%	-37.90%	-12.95%
EBITDA Growth	0.00%	123.68%	-51.35%	-111.30%	-1,350.84%	31.94%
EBIT Growth	0.00%	376.90%	-90.66%	-1,199.39%	-122.43%	28.48%
NOPAT Growth	0.00%	59.60%	-103.39%	-2,922.35%	-84.62%	-1.33%
Net Income Growth	0.00%	233.84%	-109.86%	-1,353.64%	-56.27%	-35.94%
EPS Growth	0.00%	218.18%	-108.57%	-1,600.00%	-52.94%	-29.49%
Operating Cash Flow Growth	0.00%	157.13%	-31.48%	143.65%	-101.41%	7,643.77%
Free Cash Flow Firm Growth	0.00%	0.00%	-116.29%	-2.28%	116.60%	-614.62%
Invested Capital Growth	0.00%	-56.99%	23.03%	10.09%	-18.64%	-1.01%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	101.37%	31.26%	24.49%	7.36%	-25.63%	-35.49%
EBITDA Margin	20.07%	27.60%	11.55%	-1.49%	-34.77%	-27.18%
Operating Margin	13.03%	15.76%	0.59%	-16.09%	-47.84%	-55.69%
EBIT Margin	5.48%	16.07%	1.29%	-16.18%	-57.97%	-47.62%
Profit (Net Income) Margin	5.63%	11.57%	-0.98%	-16.26%	-40.91%	-63.88%
Tax Burden Percent	87.54%	71.07%	-55.11%	92.30%	70.97%	133.02%
Interest Burden Percent	117.46%	101.29%	137.85%	108.83%	99.44%	100.85%
Effective Tax Rate	12.46%	28.93%	155.11%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.03%	6.76%	-0.34%	-8.92%	-17.33%	-19.67%
ROIC Less NNEP Spread (ROIC-NNEP)	-24.93%	3.65%	2.45%	63.17%	-53.44%	-64.78%
Return on Net Nonoperating Assets (RNNOA)	-1.45%	-0.24%	-0.48%	-3.28%	-6.36%	-25.00%
Return on Equity (ROE)	1.58%	6.51%	-0.82%	-12.20%	-23.68%	-44.67%
Cash Return on Invested Capital (CROIC)	0.00%	86.46%	-20.99%	-18.53%	3.24%	-18.66%
Operating Return on Assets (OROA)	2.21%	10.25%	0.88%	-8.74%	-20.46%	-16.08%
Return on Assets (ROA)	2.27%	7.38%	-0.66%	-8.78%	-14.44%	-21.57%
Return on Common Equity (ROCE)	1.58%	6.51%	-0.81%	-11.83%	-22.93%	-42.84%
Return on Equity Simple (ROE_SIMPLE)	1.58%	4.25%	-0.84%	-13.01%	-30.68%	0.00%
Net Operating Profit after Tax (NOPAT)	14	22	-0.74	-22	-41	-42
NOPAT Margin	11.41%	11.20%	-0.33%	-11.26%	-33.49%	-38.98%
Net Nonoperating Expense Percent (NNEP)	27.96%	3.10%	-2.79%	-72.09%	36.12%	45.12%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-6.76%	-15.71%	-17.22%
Cost of Revenue to Revenue	74.79%	68.74%	75.51%	92.64%	125.63%	135.49%
SG&A Expenses to Revenue	2.77%	3.28%	6.31%	5.92%	4.39%	7.72%
R&D to Revenue	0.00%	1.97%	5.60%	3.08%	2.74%	0.66%
Operating Expenses to Revenue	12.17%	15.50%	23.90%	23.46%	22.21%	20.20%
Earnings before Interest and Taxes (EBIT)	6.58	31	2.93	-32	-72	-51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24	54	26	-2.96	-43	-29
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1,312.13	594.61	0.67	0.46
Price to Tangible Book Value (P/TBV)	0.00	0.00	1,312.13	594.61	0.67	0.46
Price to Revenue (P/Rev)	0.00	0.00	1,534.86	742.80	0.89	0.56
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1,455.10	561.32	0.87	0.75
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	1,534.84	743.00	1.51	1.47
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	13,286.92	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	118,847.67	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	12,776.51	2,227.07	0.00	2.24
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	24.09	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.06	0.06	0.15	0.30	0.54	0.78
Long-Term Debt to Equity	0.06	0.01	0.14	0.30	0.10	0.00
Financial Leverage	0.06	-0.07	-0.20	-0.05	0.12	0.39
Leverage Ratio	0.70	0.88	1.24	1.39	1.64	2.07
Compound Leverage Factor	0.82	0.89	1.71	1.51	1.63	2.09
Debt to Total Capital	5.48%	6.01%	13.12%	22.89%	35.02%	43.95%
Short-Term Debt to Total Capital	0.00%	5.31%	1.27%	0.00%	28.38%	43.95%
Long-Term Debt to Total Capital	5.48%	0.70%	11.86%	22.89%	6.64%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	2.90%	2.15%	2.43%	2.54%
Common Equity to Total Capital	94.52%	93.99%	83.98%	74.96%	62.55%	53.51%
Debt to EBITDA	1.03	0.32	1.58	-25.63	-2.15	-3.66
Net Debt to EBITDA	1.03	-1.25	-0.51	-10.97	-1.62	-3.16
Long-Term Debt to EBITDA	1.03	0.04	1.43	-25.63	-0.41	0.00
Debt to NOPAT	1.81	0.78	-55.91	-3.39	-2.23	-2.55
Net Debt to NOPAT	1.81	-3.08	18.16	-1.45	-1.68	-2.20
Long-Term Debt to NOPAT	1.81	0.09	-50.52	-3.39	-0.42	0.00
Altman Z-Score	0.00	0.00	2,574.10	705.31	-0.51	-1.10
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	1.70%	3.08%	3.17%	4.09%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	2.00	3.84	3.96	3.23	0.88	0.51
Quick Ratio	0.00	2.58	1.94	1.61	0.28	0.14
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	280	-46	-47	7.73	-40
Operating Cash Flow to CapEx	-384.56%	145.18%	64.60%	124.02%	-2.22%	258.15%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.40	0.64	0.68	0.54	0.35	0.34
Accounts Receivable Turnover	0.00	0.00	10.16	8.55	7.00	10.34
Inventory Turnover	2.54	3.33	3.13	2.93	2.85	3.00
Fixed Asset Turnover	0.84	1.35	1.41	1.03	0.65	0.59
Accounts Payable Turnover	5.62	7.52	7.39	6.35	4.95	3.95
Days Sales Outstanding (DSO)	0.00	0.00	35.92	42.70	52.18	35.29
Days Inventory Outstanding (DIO)	143.73	109.73	116.70	124.50	128.23	121.49
Days Payable Outstanding (DPO)	64.95	48.56	49.39	57.48	73.70	92.38
Cash Conversion Cycle (CCC)	78.78	61.18	103.24	109.72	106.71	64.40
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	452	195	239	263	214	212
Invested Capital Turnover	0.27	0.60	1.05	0.79	0.52	0.50
Increase / (Decrease) in Invested Capital	0.00	-258	45	24	-49	-2.16
Enterprise Value (EV)	0.00	0.00	348,224	147,891	186	159
Market Capitalization	0.00	0.00	348,228	147,851	110	60
Book Value per Share	$7.58	$4.15	$0.00	$0.00	$2.57	$2.03
Tangible Book Value per Share	$7.50	$4.15	$0.00	$0.00	$2.57	$2.03
Total Capital	452	283	316	332	264	244
Total Debt	25	17	41	76	92	107
Total Long-Term Debt	25	1.99	37	76	18	0.00
Net Debt	25	-67	-13	32	70	92
Capital Expenditures (CapEx)	18	27	42	54	42	27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	19	49	64	51	39	21
Debt-free Net Working Capital (DFNWC)	19	133	119	95	61	31
Net Working Capital (NWC)	19	118	115	95	-13	-76
Net Nonoperating Expense (NNE)	6.93	-0.72	1.48	9.94	9.17	27
Net Nonoperating Obligations (NNO)	25	-71	-35	7.67	43	76
Total Depreciation and Amortization (D&A)	18	23	23	29	29	22
Debt-free, Cash-free Net Working Capital to Revenue	16.25%	25.15%	28.31%	25.74%	31.38%	19.60%
Debt-free Net Working Capital to Revenue	16.25%	68.31%	52.53%	47.56%	49.69%	28.98%
Net Working Capital to Revenue	16.25%	60.63%	50.76%	47.56%	-10.81%	-70.52%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.35	($0.03)	($0.51)	($0.78)	($1.01)
Adjusted Weighted Average Basic Shares Outstanding	0.00	64.05M	64.45M	64.04M	64.09M	67.83M
Adjusted Diluted Earnings per Share	$0.00	$0.35	($0.03)	($0.51)	($0.78)	($1.01)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	65.05M	64.45M	64.04M	64.09M	67.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	64.73B	64.00B	64.05M	64.11M	83.67M
Normalized Net Operating Profit after Tax (NOPAT)	14	22	0.94	-22	-41	-42
Normalized NOPAT Margin	11.41%	11.20%	0.42%	-11.26%	-33.49%	-38.98%
Pre Tax Income Margin	6.44%	16.27%	1.78%	-17.61%	-57.64%	-48.03%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

No quarterly metrics and ratios for Largo are available.

Financials Breakdown Chart

Largo Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Largo's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Largo's net income appears to be on an upward trend, with a most recent value of -$68.74 million in 2025, falling from $6.76 million in 2020. The previous period was -$50.57 million in 2024. See where experts think Largo is headed by visiting Largo's forecast page.

Largo's total operating income in 2025 was -$59.92 million, based on the following breakdown:

Total Gross Profit: -$38.19 million
Total Operating Expenses: $21.74 million

Over the last 5 years, Largo's total revenue changed from $119.99 million in 2020 to $107.60 million in 2025, a change of -10.3%.

Largo's total liabilities were at $182.22 million at the end of 2025, a 23.6% increase from 2024, and a 259.8% increase since 2020.

In the past 5 years, Largo's cash and equivalents has ranged from $0.00 in 2020 to $83.79 million in 2021, and is currently $9.72 million as of their latest financial filing in 2025.

Over the last 5 years, Largo's book value per share changed from 7.58 in 2020 to 2.03 in 2025, a change of -73.2%.

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Financial statements for NYSE:LGO last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Largo (LGO) Financials

Financials Breakdown Chart

Largo Financials - Frequently Asked Questions

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Largo (LGO) Financials

Annual Income Statements for Largo

Quarterly Income Statements for Largo

Annual Cash Flow Statements for Largo

Quarterly Cash Flow Statements for Largo

Annual Balance Sheets for Largo

Quarterly Balance Sheets for Largo

Annual Metrics And Ratios for Largo

Quarterly Metrics And Ratios for Largo

Financials Breakdown Chart

Largo Financials - Frequently Asked Questions

When does Largo's financial year end?

How has Largo's net income changed over the last 5 years?

What is Largo's operating income?

How has Largo's revenue changed over the last 5 years?

How much debt does Largo have?

How much cash does Largo have?

How has Largo's book value per share changed over the last 5 years?

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