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Metalla Royalty & Streaming Ltd. (MTA)

AMEX / Basic Materials / Other Precious Metals

Share price

8.10 USD Market dataClose of Oct 15, 2026

Market capitalisation

757.3M USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Mar 26, 2026
Ratios computed
Oct 15, 2026
Filed years
6, FY2020 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

-1.7% Computed

From the FY2025 filing

Read quality

Valuation

Price to book

3.01x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

n/a Computed

FY2025 accounts, priced at the latest close

Why n/a

We do not hold this figure for this company, so there is nothing to show.

Read cash generation

Revenue and net income, by fiscal year

FY2016 Revenue: 0.00 CADFY2016 Net income: -158.9K CADFY2017 Revenue: 0.00 CADFY2017 Net income: -2.4M CADFY2018 Revenue: 5.7M CADFY2018 Net income: -2.0M CADFY2019 Revenue: 5.8M CADFY2019 Net income: -1.8M CADFY2020 Revenue: 2.8M CADFY2020 Net income: -4.4M CADFY2021 Revenue: 3.0M CADFY2021 Net income: -10.4M CADFY2022 Revenue: 2.4M CADFY2022 Net income: -10.9M CADFY2023 Revenue: 4.6M CADFY2023 Net income: -5.8M CADFY2024 Revenue: 5.9M CADFY2024 Net income: -5.5M CADFY2025 Revenue: 11.7M CADFY2025 Net income: -4.2M CAD
Revenue Net income10 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
0 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it good

Return on equity was -1.7% in FY2025, in the band labelled "Likely below the cost of equity" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on shareholders' money below the usual cost of equity.

Today, against the Basic Materials sector (247 companies), -1.7% sits at the 47th percentile; the middle half of that group runs from -20.2% to 11.8%.

Is it safe

Current ratio was 2.41 in FY2025, in the band labelled "At or above Graham's requirement" (2.00 and above), on lines anchored on Graham's defensive-investor criteria, suggesting short-term assets well above short-term obligations.

Today, against the Basic Materials sector (251 companies), 2.41 sits at the 52nd percentile; the middle half of that group runs from 1.42 to 3.59.

Year by year against peers
Whether Metalla Royalty & Streaming Ltd.'s return on equity stayed above the median of the Basic Materials sector, year by year. (FY2021 to FY2025, 5 fiscal years of Metalla Royalty & Streaming Ltd. with a comparable figure)
The direction
Which way Metalla Royalty & Streaming Ltd.'s return on equity has moved, and how steadily. (FY2021 to FY2025, 5 filed years of Metalla Royalty & Streaming Ltd.)
What could explain it
What in Metalla Royalty & Streaming Ltd.'s filed statements could explain the movements. (2 readings drawn from the statement lines Metalla Royalty & Streaming Ltd. filed)
What to check next
What to check next on Metalla Royalty & Streaming Ltd., and where in its filings. (1 question for Metalla Royalty & Streaming Ltd.)
In one paragraph
One paragraph on Metalla Royalty & Streaming Ltd.'s returns, cash, balance sheet and price. (4 of sixteen figures read for Metalla Royalty & Streaming Ltd.)

These are MTA’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research MTAPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 40-F, filed Mar 26, 2026, accession 0001062993-26-001632.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Metalla Royalty & Streaming Ltd: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

n/a ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Return on equity-1.7% ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Return on capital employed, pre-tax-0.0% ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Return on assets-1.6% ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Gross margin80.9% ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Operating margin-0.6% ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Net margin-36.1% ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
MTA -36.1%
ELVR -131.8%GROY -26.5%ITRG -0.9%MUX -0.6%SCZM 10.0%
-131.8%10.0%
Net margin: MTA against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Metalla Royalty & Streaming Ltd: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity
Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

n/a ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Current ratio2.41 ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Quick ratio2.41 ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Interest coverage
Why n/m

Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).

n/m ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Altman Z-score23.48 ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Net debt
Why n/a

The FY2025 balance sheet carries no net debt we could read.

n/a ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Total assets 270.9MTotal liabilities 19.1MShareholders' equity 251.8MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Metalla Royalty & Streaming Ltd owned and owed at the end of fiscal 2025, from the balance sheet it filed (40-F, filed Mar 26, 2026, 0001062993-26-001632).

Metalla Royalty & Streaming Ltd: balance sheet position
Total assets270.9M FiledFY2025 40-F, filed Mar 26, 2026
Total liabilities19.1M FiledFY2025 40-F, filed Mar 26, 2026
Shareholders' equity251.8M FiledFY2025 40-F, filed Mar 26, 2026
Cash9.8M FiledFY2025 40-F, filed Mar 26, 2026
Total debtn/a FiledFY2025 40-F, filed Mar 26, 2026
Net debtn/a
Current ratio2.41
Debt to equityn/a
  • Debt to equity: FY2025: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Interest cover: FY2025: Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Metalla Royalty & Streaming Ltd: what the market charges, each with its source
FigureValue, source and document
Price to earnings
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book3.01x ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Price to sales64.51x ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Enterprise value to EBIT
Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

n/a ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Enterprise value to EBITDA
Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

n/a ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Price to earnings over growth
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Diluted earnings per share
Why n/a

The FY2025 filing carries no diluted earnings per share we could read.

n/a FiledFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Graham number
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632

We publish no fair value or price target of our own. Value MTA on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Metalla Royalty & Streaming Ltd today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Metalla Royalty & Streaming Ltd: valuation
Share price8.10 USD
Market capitalisation757.3M USD
Enterprise value to EBITDAn/a
Graham numbern/m
Diluted earnings per share, FY2019n/a

Diluted earnings per share, FY2019: Filed before the 1-for-4 split on 17 Dec 2019, and the filing it was read from cannot be placed against it, so it is not put on today's share count and is not shown beside figures that are.

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Metalla Royalty & Streaming Ltd

  1. Elevra Lithium Limited (ELVR)Market cap 542.2M USD
  2. Gold Royalty Corp. (GROY)Market cap 681.1M USD
  3. Integra Resources Corp. (ITRG)Market cap 488.9M USD
  4. McEwen Mining Inc. (MUX)Market cap 968.4M USD
  5. Santacruz Silver Mining Ltd. Common Shares (SCZM)Market cap 773.7M USD

Same industry (Other Precious Metals) and size band (Small, 300M to 2B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

Computed

Metalla Royalty & Streaming Ltd: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Free cash flow
Why n/a

The FY2025 filing carries no free cash flow we could read.

n/a ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Free cash flow margin
Why n/a

No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.

n/a ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
FY2016 Free cash flow: -197.5K CADFY2016 Net income: -158.9K CADFY2017 Free cash flow: -1.8M CADFY2017 Net income: -2.4M CADFY2018 Free cash flow: 1.5M CADFY2018 Net income: -2.0M CADFY2019 Free cash flow: -8.3M CADFY2019 Net income: -1.8M CADFY2020 Net income: -4.4M CADFY2021 Net income: -10.4M CADFY2022 Net income: -10.9M CADFY2023 Net income: -5.8M CADFY2024 Net income: -5.5M CADFY2025 Net income: -4.2M CAD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Metalla Royalty & Streaming Ltd.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
3.01xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
n/aFY2025Mar 26, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
n/aFY2025Mar 26, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
2.41FY2025Mar 26, 2026
64.51xFY2025Oct 15, 2026
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
23.48FY2025Oct 15, 2026
-1.80FY2025Mar 26, 2026
6/9FY2025Mar 26, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 6 filed fiscal years on record, FY2020 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 fiscal years, FY2016 to FY2025. 6 read from the annual reports Metalla Royalty & Streaming Ltd filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in the currency each report was stated in.

Metalla Royalty & Streaming Ltd: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202511.7M USD-64.0K USD-4.2M USDn/an/a-0.6%-1.7%40-F, Mar 26, 20260001062993-26-001632
FY20245.9M USD-4.5M USD-5.5M USDn/an/a-76.1%-2.2%40-F, Mar 27, 20250001062993-25-006404
FY20234.6M USD-7.3M USD-5.8M USDn/an/a-159.6%-2.3%40-F, Mar 28, 20240001062993-24-007364
FY20222.4M USD-9.8M USD-10.9M USDn/an/a-407.0%-9.2%40-F, Mar 31, 20230001062993-23-008193
FY20213.0M USD-10.3M USD-10.4M USDn/an/an/a-10.4%40-F, Mar 25, 20220001062993-22-008627
FY20202.8M USD-4.4M USD-4.4M USDn/an/an/a-9.2%40-F/A, Mar 31, 20210001062993-21-003187
FY20195.8M-1.1M-1.8Mn/a-8.3M-18.5%-4.0%Market data, supplied Mar 8, 2026accession n/a
FY20185.7M CAD-1.3M CAD-2.0M CADn/a1.5M CAD-22.7%-16.8%Market data, supplied Mar 8, 2026accession n/a
FY20170.00 CAD-2.3M CAD-2.4M CADn/a-1.8M CADn/m-42.8%Market data, supplied Mar 8, 2026accession n/a
FY20160.00 CAD-157.0K CAD-158.9K CADn/a-197.5K CADn/mn/mMarket data, supplied Mar 8, 2026accession n/a
  • Revenue: Revenue was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow: Free cash flow was not positive in both 2016 and 2019, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Metalla Royalty & Streaming Ltd: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-1.80 ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Piotroski F-score6/9 ComputedFY2025 40-F, filed Mar 26, 2026, 0001062993-26-001632
Named tests met0 of 30 Computed
Beta1.27 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 18 not met, 12 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
None of the named tests.
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; High returns and growth; Gross margin, turnover (Robert Novy-Marx); Low beta, profitable; Near the 52-week low; Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman)
Not measured
Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; ROIC at or above WACC; Z-score and coverage (Edward Altman); P/E times P/B (Benjamin Graham); Cash-covered dividend; Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(18)
  • Debt to Equity: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • P/E Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • EV/EBIT: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Return on Invested Capital: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • PEG Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Interest Coverage: Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Price To Graham: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 18 figures could not be read on this company, among them Debt to Equity, Positive Earnings Streak, P/E Ratio. Each blank in the table above names the rest, with its reason. 12 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 6 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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ValueScreener

Discover companies, research each one to its filings, track what matters, and take your work into your own spreadsheet.

ValueScreener is a trading name of Oliva Real Estate Technologies LLC, a Delaware limited liability company. Legal notices: legal@valuescreener.ai. © 2026 Oliva Real Estate Technologies LLC. All rights reserved.

Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.

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