# Metals Exploration plc (MTL.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Basic Materials / Metals & Mining. Price 17p, market value 511 millionp.

## Valuation
- **P/E (trailing): 16.7×** (5-yr avg 507.9×, 3-yr avg 661.4×). Metals Exploration plc trades at 16.7× trailing earnings, well below its own five-year average of 507.9×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 3.3×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.7×**. Each dollar of revenue is priced at 1.7×.
- **Price / book: 2.6×**. The shares trade at 2.6× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.2×**. Enterprise value is 3.2× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 15.1%** (5-yr avg 0.9%). Free cash flow equals 15.1% of the market value, above its five-year average of 0.9%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 6.0%**. The inverse of the P/E: 6.0% of the price is earned each year.

## Profitability
- **Gross margin: 33.9%**. Metals Exploration plc keeps 33.9% of revenue after the direct cost of what it sells.
- **Operating margin: 20.7%**. 20.7% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 13.9%**. 13.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 11.7%**. 11.7% on shareholders' equity is solid.
- **Return on invested capital: 28.1%**. Return on all capital, debt included, is 28.1%: comfortably above what that capital costs.
- **Return on assets: 17.5%**. Each dollar of assets produces 17.5% of profit.

## Growth
- **Revenue growth (1 yr): 11.3%** (3-yr 19.6%/yr, 5-yr 11.7%/yr). Revenue grew 11.3% over the last year, against 11.7% a year compounded over five years.
- **EPS growth (1 yr): -21.9%** (3-yr 33.5%/yr, 5-yr 18.4%/yr). Earnings per share fell 21.9%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -0.2%/yr**. Free cash flow has compounded at -0.2% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.00**. Debt is 0.00 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Metals Exploration plc holds more cash than debt.
- **Interest coverage: 20.2×**. Operating profit covers interest 20.2× over, a safe margin.
- **Current ratio: 2.34** (quick 1.80). Current assets cover the next year's liabilities 2.34 times.
- **Altman Z-score: 6.76**. A Z-score of 6.76 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Metals Exploration plc does not currently pay a dividend, but it returned 2.9% of its market value through buybacks over the last year.

## Analyst view
- **Analyst consensus: strong_buy** (2 analysts). 2 analysts cover Metals Exploration plc; the consensus is strong_buy, with an average price target of 35p (+107% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 34.5%** (YTD 11.5%, 3-mo 32.4%). The shares are up 34.5% over twelve months including dividends.
- **From 52-week high: -13.0%** (62.1% above the low). Trading 13% 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): 76**. An RSI of 76 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 0.96** (volatility 52%). Beta of 0.96 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.