# BlackRock World Mining Trust plc (BRWM.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 1021p, market value 1.9 billionp.

## Valuation
- **P/E (trailing): 2.8×** (5-yr avg 472.7×, 3-yr avg 219.6×). BlackRock World Mining Trust plc trades at 2.8× trailing earnings, well below its own five-year average of 472.7×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 3.2×**. Each dollar of revenue is priced at 3.2×.
- **Price / book: 1.2×**. The shares trade at 1.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.5×**. Enterprise value is 3.5× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 6.5%** (5-yr avg 0.0%). Free cash flow equals 6.5% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 35.8%**. The inverse of the P/E: 35.8% of the price is earned each year.

## Profitability
- **Gross margin: 97.4%**. BlackRock World Mining Trust plc keeps 97.4% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 98.5%**. 98.5% of revenue is left after running the business, an exceptional level.
- **Net margin: 98.8%**. 98.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 43.1%**. 43.1% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 34.8%**. Return on all capital, debt included, is 34.8%: comfortably above what that capital costs.
- **Return on assets: 33.4%**. Each dollar of assets produces 33.4% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 755.9%** (3-yr 42.7%/yr, 5-yr 25.6%/yr). Revenue grew 755.9% over the last year, against 25.6% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 681.0%** (3-yr 50.2%/yr, 5-yr 24.0%/yr). Earnings per share rose 681.0%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -20.8%/yr**. Free cash flow has compounded at -20.8% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: 18 millionp**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. BlackRock World Mining Trust plc does not currently pay a dividend, but it returned 1.2% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 76.7%** (YTD 27.9%, 3-mo 7.1%). The shares are up 76.7% over twelve months including dividends.
- **From 52-week high: -8.7%** (73.0% above the low). Trading 9% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 60**. An RSI of 60 is neutral.
- **Beta (1 yr): 1.71** (volatility 39%). Beta of 1.71 against the FTSE All-Share: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BRWM.L · Page: https://foliofundamentals.com/stocks/brwm.l

Not investment advice.