What are the investment strengths of United States Antimony Corp (UAMY)?

Near-zero debt (0.004 D/E) with 25.5M working capital provides flexibility to weather losses while scaling antimony production. 54% 5Y revenue growth with 26% gross margin shows operational progress - scale could unlock operating leverage.

What are the investment risks for United States Antimony Corp (UAMY)?

740M market cap on 32M revenue (-4.9M net income) implies 23x P/S - requires 10x+ revenue growth to justify. Operating expenses (14.5M) are 46% of revenue with G&A alone at 6.3M - cost structure incompatible with profitability.

United States Antimony Corp

UAMY

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United States Antimony Corp AI Insights

Informational only. Not investment advice.

As of 2025-12-11

Snapshot

P/S ratio of 23.2x vs industry median 6.1x despite -19% operating margin and -15% net margin TTM - extreme valuation disconnect.[P/S Ratio]
FCF of -21.3M TTM driven by 16.3M capex (51% of revenue) - burning cash to expand while unprofitable.[Free Cash Flow TTM]
5Y revenue growth of 54% vs industry median 13% - growth story priced in, but no path to profitability visible.[Total Revenue 5 Year Growth]

Watch Triggers

Operating Margin TTM: Improves to >0% — Currently -19%; any positive margin would validate scale thesis and justify capex.
Cash and Equivalents: Falls below 10M — Would signal imminent dilution or debt raise given 5M+ annual cash burn.
Capital Expenditure TTM: Drops below 5M — Would indicate growth investment pause - either capital constraint or strategy shift.

Bull Case

Near-zero debt (0.004 D/E) with 25.5M working capital provides flexibility to weather losses while scaling antimony production.

Debt to EquityWorking Capital

54% 5Y revenue growth with 26% gross margin shows operational progress - scale could unlock operating leverage.

Total Revenue 5 Year GrowthGross Margin TTM

Bear Case

740M market cap on 32M revenue (-4.9M net income) implies 23x P/S - requires 10x+ revenue growth to justify.

P/S RatioMarket Cap TTMNet Income TTM

Operating expenses (14.5M) are 46% of revenue with G&A alone at 6.3M - cost structure incompatible with profitability.

Operating Expense TTMGeneral and Administrative Expense

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

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Forward Thesis

Cash runway of ~3 years at current burn rate delays but doesn't eliminate dilution risk.

1-3ymed

18.3M cash vs 5M annual operating cash burn
33.4M raised via stock issuance recently
Capex of 16.3M TTM unsustainable without profitability

Cash 18.3M, OCF -5.0M TTMIssuance of Capital Stock 33.4MCapex 16.3M TTM

Valuation Context

Caveats

UAMY Fundamentals

Mining, Quarrying, and Oil and Gas Extraction → Mining (except Oil and Gas)

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$1.53B		—
Enterprise Value	$1.5B		—
P/E Ratio	0.00		—
Total Revenue - TTM	$39.26M	+162.8%	—
Earnings Per Share (diluted) - TTM	$0.00		—
Operating Margin - TTM	-22.6%	-6.7%	—
Net Margin - TTM	-11.1%	+0.5%	—
Free Cash Flow - TTM	$-37.5M		—
Return on Common Equity - TTM	-5.12%	+1.3%	—
Beta 5Y (Monthly)	unknown		—

UAMY Dividend History

No dividends

UAMY Stock Splits

No stock splits

UAMY SEC Filings

Filing Date	Report Date	Report Type	Filing Link
03/19/26	12/31/25	10-K	0001104659-26-032049
11/12/25	09/30/25	10-Q	0001104659-25-110313
08/12/25	06/30/25	10-Q	0001654954-25-009449
05/08/25	03/31/25	10-Q	0001654954-25-005221
03/20/25	12/31/24	Unknown	0001654954-25-003048
11/12/24	09/30/24	10-Q	0001654954-24-014176
08/09/24	06/30/24	10-Q	0001654954-24-010214
05/15/24	03/31/24	10-Q	0001654954-24-006358
04/18/25	12/31/23	10-K/A	0001654954-25-004433
04/12/24	12/31/23	10-K	0001654954-24-004576
11/13/23	09/30/23	10-Q	0001654954-23-014107
10/17/23	06/30/23	10-Q	0001654954-23-013006
10/05/23	03/31/23	10-Q	0001654954-23-012628
07/18/23	12/31/22	10-K	0001654954-23-009305
11/14/22	09/30/22	10-Q	0001654954-22-015241
08/16/22	06/30/22	10-Q	0001654954-22-011421
05/16/22	03/31/22	10-Q	0001654954-22-006925
03/31/22	12/31/21	10-K	0001654954-22-004348
11/15/21	09/30/21	10-Q	0001654954-21-012174
08/16/21	06/30/21	10-Q	0001654954-21-009012
05/14/21	03/31/21	10-Q	0001654954-21-005709
03/31/21	12/31/20	10-K	0001654954-21-003567
04/04/22	12/31/20	10-K/A	0001654954-22-004564
11/16/20	09/30/20	10-Q	0001654954-20-012390
08/19/20	06/30/20	10-Q	0001654954-20-009334
05/15/20	03/31/20	10-Q	0001654954-20-005536
04/14/20	12/31/19	10-K	0001654954-20-004038
11/14/19	09/30/19	10-Q	0001654954-19-012880
08/14/19	06/30/19	10-Q	0001654954-19-009429
05/15/19	03/31/19	10-Q	0001654954-19-005970
04/01/19	12/31/18	10-K	0001654954-19-003748
11/14/18	09/30/18	10-Q	0001654954-18-012605
08/14/18	06/30/18	10-Q	0001654954-18-009005
05/15/18	03/31/18	10-Q	0001654954-18-005337
04/02/18	12/31/17	10-K	0001654954-18-003447
11/14/17	09/30/17	10-Q	0001654954-17-010507
08/14/17	06/30/17	10-Q	0001654954-17-007405
05/15/17	03/31/17	10-Q	0001654954-17-004639
03/31/17	12/31/16	10-K	0001654954-17-002854
11/14/16	09/30/16	10-Q	0001654954-16-003863
08/15/16	06/30/16	10-Q	0001654954-16-001544
05/16/16	03/31/16	10-Q	0001354488-16-007443
03/30/16	12/31/15	10-K	0001354488-16-006768
11/09/15	09/30/15	10-Q	0001354488-15-004876
08/10/15	06/30/15	10-Q	0001354488-15-003637
05/11/15	03/31/15	10-Q	0001354488-15-002250
03/16/15	12/31/14	10-K	0001354488-15-001160
11/10/14	09/30/14	10-Q	0001354488-14-005522
08/11/14	06/30/14	10-Q	0001354488-14-003995
05/08/14	03/31/14	10-Q	0001354488-14-002335
03/17/14	12/31/13	10-K	0001354488-14-001190
11/12/13	09/30/13	10-Q	0001354488-13-006115
08/08/13	06/30/13	10-Q	0001354488-13-004249
05/10/13	03/31/13	10-Q	0001354488-13-002569
03/18/13	12/31/12	10-K	0001354488-13-001259
11/05/12	09/30/12	10-Q	0001354488-12-005558
08/08/12	06/30/12	10-Q	0001354488-12-003933
05/10/12	03/31/12	10-Q	0001354488-12-002270
03/14/12	12/31/11	10-K	0001354488-12-001132
04/14/14	12/31/11	10-K/A	0001354488-14-001818
11/21/11	09/30/11	10-Q	0001354488-11-004629
08/22/13	09/30/11	10-Q/A	0001354488-13-004846
08/22/13	06/30/11	10-Q/A	0001354488-13-004844
08/11/11	06/30/11	10-Q	0001354488-11-002598
08/22/13	03/31/11	10-Q/A	0001354488-13-004842
05/16/11	03/31/11	10-Q	0001072613-11-000476
03/28/11	12/31/10	10-K	0001072613-11-000341
08/22/13	12/31/10	10-K/A	0001354488-13-004840
11/21/11	09/30/10	10-Q	0001354488-11-004629
08/13/10	06/30/10	10-Q	0001072613-10-000745
05/14/10	03/31/10	10-Q	0001072613-10-000550
03/30/10	12/31/09	10-K	0001072613-10-000401
08/22/13	12/31/09	10-K/A	0001354488-13-004840
11/12/10	09/30/09	10-Q	0001072613-10-000987
11/13/09	09/30/09	10-Q	0001072613-09-001475
08/14/09	06/30/09	10-Q	0001072613-09-001243
05/15/09	03/30/09	10-Q	0001072613-09-000906
03/30/09	12/31/08	10-K	0001072613-09-000636
11/14/08	09/30/08	10-Q	0001072613-08-002043
08/13/08	06/30/08	10-Q	0001072613-08-001602
05/15/08	03/30/08	Unknown	--
12/31/07	12/31/07	10KSB	0001072613-08-000812
09/30/07	09/30/07	10QSB	0001072613-07-002693
06/30/07	06/30/07	NT 10-Q	0001072613-07-001902
03/31/07	03/30/07	Unknown	--
12/31/06	12/31/06	NT 10-K	0001072613-07-000830
09/30/06	09/30/06	NT 10-Q	0001072613-06-002337
06/30/06	06/30/06	NT 10-Q	0001072613-06-001784
03/31/06	03/30/06	Unknown	--
12/31/05	12/31/05	NT 10-K	0001072613-06-000715
09/30/05	09/30/05	10QSB	0001072613-05-002617
06/30/05	06/30/05	10QSB	0001072613-05-001996
03/31/05	03/30/05	Unknown	--
12/31/04	12/31/04	NT 10-K	0001072613-05-000801
09/30/04	09/30/04	10QSB	0001282200-04-000034
06/30/04	06/30/04	10QSB	0001282200-04-000021
03/31/04	03/30/04	Unknown	--
12/31/03	12/31/03	NT 10-K	0001172593-04-000014
09/30/03	09/30/03	10QSB	0001172593-03-000060
06/30/03	06/30/03	10QSB	0001172593-03-000048
03/31/03	03/30/03	Unknown	--
12/31/02	12/31/02	NT 10-K	0001172593-03-000016
09/30/02	09/30/02	NT 10-Q	0001172593-02-000021
06/30/02	06/30/02	10QSB	0001172593-02-000017
03/31/02	03/30/02	Unknown	--
12/31/01	12/31/01	NT 10-K	0000101538-02-000009
09/30/01	09/30/01	10QSB	0000101538-01-500011
06/30/01	06/30/01	10QSB	0000101538-01-500008
03/31/01	03/30/01	Unknown	--
12/31/00	12/31/00	NT 10-K	0000101538-01-500003
09/30/00	09/30/00	10QSB	0000101538-00-500005
06/30/00	06/30/00	10QSB	0000101538-00-000008
03/31/00	03/30/00	Unknown	--