# Tungsten West PLC (TUN.L) fundamentals

Data as of 2026-11-04. LSE, United Kingdom. Sector: Basic Materials / Mining & Metals. Price 32p, market value 508 millionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Tungsten West PLC reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 844.7×**. Each dollar of revenue is priced at 844.7×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 8.1×**. The shares trade at 8.1× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: -4.1%** (5-yr avg -0.0%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 74.7%**. Tungsten West PLC keeps 74.7% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Return on equity: -301.1%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -22.9%**. Return on all capital, debt included, is -22.9%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -243.0%**. Each dollar of assets produces -243.0% of profit.

## Growth
- **EPS growth (1 yr): 0.0%**. Earnings per share rose 0.0%.

## Financial health
- **Debt to equity: 0.03**. Debt is 0.03 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 3.3×**. It would take 3.3 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: -0.0×**. Operating profit covers interest only -0.0×: fragile.
- **Current ratio: 8.01** (quick 8.01). Current assets cover the next year's liabilities 8.01 times.
- **Altman Z-score: 21.48**. A Z-score of 21.48 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Tungsten West PLC does not currently pay a dividend, but it returned -8.1% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 207.3%** (YTD 173.9%, 3-mo -7.4%). The shares are up 207.3% over twelve months including dividends.
- **From 52-week high: -40.1%** (320.0% above the low). Trading 40% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 24**. An RSI of 24 is oversold; bounces are common, but oversold can stay oversold in a real decline.
- **Beta (1 yr): 1.49** (volatility 85%). Beta of 1.49 against the FTSE All-Share: the shares move much more than the market.

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

Not investment advice.