EMAT vs LAR vs METC Stock Comparison

Evolution Metals & Technologies, Lithium Argentina AG and Ramaco Resources Prices as of Oct 27, 2026 Peers: Industry group
LAR Lithium Argentina AG
$4.58 -17.2% 1M +1.1% 1Y
Market cap
$743.82M
P/E
–
Revenue (TTM)
$225.80M
Div. yield
–
Lithium Basic Materials
6 wins

Head to Head

9 decided of 12

Lithium Argentina AG leads on 6 of the 12 questions below (Lithium Argentina AG 6, Ramaco Resources 2, Evolution Metals & Technologies 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionEMATLARMETCLeader
Larger companyMarket capitalisation $889.16M $743.82M $485.86M EMAT
Cheaper on earningsLower P/E, profitable companies only -16.6x -13.8x -8.0x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 20.8x — –
Faster revenue growthRevenue growth, trailing twelve months — +371.3% -17.7% LAR
More profitableNet margin, trailing twelve months — -23.9% -12.0% METC
Better return on capitalReturn on invested capital — 0.0% -6.9% LAR
Less leveragedLower net debt / EBITDA — -3.4x 16.8x LAR
Higher dividend yieldTrailing dividend yield — — 0.00% –
Better 1-year returnPrice return, last 12 months -88.6% +1.1% -77.4% LAR
Better 5-year returnAnnualised price return, 5 years — -16.4%/yr -13.6%/yr METC
Less volatileAnnualised volatility, 1 year 189.5% 74.7% 85.1% LAR
Higher overall scoreMean of the five percentile scores vs peers 19/100 67/100 45/100 LAR

Percentile Scorecard

EMATLARMETC

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisEMATLARMETC
Valuation 14 #139 of 162 71 #48 of 162 41 #14 of 23
Growth 31 #102 of 147 75 #38 of 147 10 #19 of 21
Profitability – 41 #73 of 122 59 #8 of 18
Financial Health 12 #144 of 164 75 #42 of 164 14 #19 of 22
Shareholder Returns – 74 #29 of 107 100 #1 of 10
Overall 19 67 45
  • EMAT ranked among 176 companies in Metals and Mining
  • LAR ranked among 176 companies in Metals and Mining
  • METC ranked among 25 companies in Coal and Uranium

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodEMATLARMETCSPY
1 month -55.3%-17.2%-15.0% -0.2%
3 months -70.0%-18.5%-21.3% +3.9%
6 months -84.5%-52.4%-47.3% +8.2%
Year to date -87.0%-17.9%-57.4% +12.9%
1 year -88.6%+1.1%-77.4% +12.3%
3 years -86.7%-21.2%-35.8% +87.4%
3 years, per year -49.0%-7.6%-13.7% +23.3%
5 years —-59.2%-51.7% +67.9%
5 years, per year —-16.4%-13.6% +10.9%
10 years —+312.6%— +261.1%
10 years, per year —+15.2%— +13.7%

Risk

MeasureEMATLARMETCSPY
Volatility, 1Y 189.5%74.7%85.1% 12.7%
Downside volatility, 1Y 158.3%72.6%92.0% 12.7%
Beta vs S&P 500, 1Y 0.452.611.34 1.00
Return / volatility, 1Y -0.470.01-0.91 0.97
Max drawdown, 5Y -93.7%-89.5%-87.3% -25.4%
From 52-week high -93.3%-61.2%-77.4% -1.2%
52-week high $21.29$11.79$33.97 $779.14
52-week low $1.35$3.72$6.91 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleEMATLARMETC
P/E now vs peer median -16.6xmedian 13.3x -13.8xmedian 13.3x -8.0xmedian 28.4x
P/S now vs peer median 543.5xmedian 3.2x 3.3xmedian 3.2x 0.9xmedian 7.3x
EV/EBITDA now vs peer median —median 7.3x 4.2xmedian 7.3x 64.9xmedian 29.2x
P/FCF now vs peer median —median 14.7x -37.3xmedian 14.7x -4.3xmedian 11.0x
P/B now vs peer median -47.1xmedian 2.2x 0.9xmedian 2.2x 1.3xmedian 1.2x
PEG now vs peer median -0.48median 0.31 0.24median 0.31 0.21median 50.46

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsEMATLARMETC
Revenue – $225.80M $515.42M
Gross profit – $110.90M $69.82M
Operating income -$15.92M $256.12M -$72.64M
Net income -$53.55M -$18.74M -$61.75M
Free cash flow – -$19.96M -$114.19M
R&D – $4.53M –
EPS (diluted) $-0.09 $-0.33 $-0.96
Cash & equivalents $5.25M $99.72M $282.54M
Total debt $6.18M -$169.70M $452.81M
Shares (diluted) 621.76M 162.17M 64.59M
Enterprise value $870.62M $354.46M -$786.08M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricEMATLARMETC
P/E -16.6x -13.8x -8.0x
P/FCF – -37.3x -4.3x
P/Operating cash flow – -37.3x -11.5x
P/S 543.5x 3.3x 0.9x
P/B -47.1x 0.9x 1.3x
P/Tangible book -35.3x 0.9x 1.3x
EV/EBITDA – 4.2x 64.9x
EV/EBIT -55.9x 4.3x -9.0x
EV/Revenue – 1.8x 1.3x
EV/FCF – -20.6x -5.7x
EV/Operating cash flow – -20.6x -15.5x
PEG (3Y EPS CAGR) -0.48 0.24 0.21

Growth

14 metrics
MetricEMATLARMETC
Revenue growth (1Y) – 371.3% -17.7%
Revenue CAGR (3Y) – – -3.6%
Gross profit growth (1Y) – 32,338% -34.6%
Gross profit CAGR (3Y) – – -28.5%
Operating income growth (1Y) -258.6% 213.4% -305.3%
Operating income CAGR (3Y) – – -40.1%
Net income growth (1Y) 10.2% 48.1% -211.7%
Net income CAGR (3Y) -208.9% -17.8% -41.5%
EPS growth (1Y) 34.3% 95.8% -152.3%
EPS CAGR (3Y) 34.5% -57.1% -38.3%
Operating cash flow growth (1Y) – 39.6% -156.4%
Operating cash flow CAGR (3Y) – 31.4% -32.6%
Free cash flow growth (1Y) – 43.8% -772.6%
Free cash flow CAGR (3Y) – 31.2% -131.8%

Profitability

14 metrics
MetricEMATLARMETC
Gross margin – 49.1% 13.5%
EBITDA margin – 43.1% 2.0%
Operating margin – 113.4% -14.1%
Pretax margin – -12.2% -14.8%
Net margin – -23.9% -12.0%
FCF margin – -8.8% -22.2%
Operating cash flow margin – -8.8% -8.2%
Return on equity – 1.6% -15.2%
Return on assets -91.1% 1.2% -5.8%
Return on invested capital – 0.0% -6.9%
Return on capital employed – 6.9% -7.7%
Asset turnover – 0.2x 0.5x
Cash conversion (OCF / net income) – 1.1x 0.7x
Stock comp / revenue – 6.9% 3.9%

Financial Health

11 metrics
MetricEMATLARMETC
Debt / assets 6.5% -14.7% 44.2%
Debt / equity -0.3x -0.2x 1.2x
Net debt / EBITDA – -3.4x 16.8x
Debt / FCF – 8.5x -4.0x
Liabilities / assets 119.8% 27.2% 63.3%
Equity / assets -19.8% 72.8% 36.7%
Interest coverage – 161.6x -185.8x
Current ratio 0.2x -2.0x 4.2x
Quick ratio 0.2x -0.7x 3.2x
Cash ratio 0.1x -0.7x 2.6x
Altman Z-score – 1.76 1.08

Shareholder Returns

7 metrics
MetricEMATLARMETC
Dividend yield – – –
Net buyback yield – -0.2% 13.6%
Shareholder yield – -0.2% 13.6%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusEMATLARMETC
Forward P/E – 20.8xFY2026 –
EPS, next fiscal year $-0.43FY2026 $0.22FY2026 $-0.91FY2026
EPS growth, the year after – +27.3% –
Revenue, next fiscal year $15.71MFY2026 $0.00FY2026 $535.87MFY2026
Revenue growth, next FY +124.4%FY2026 – -0.1%FY2026
Revenue growth, the year after +2,427.0% – +37.3%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersEMATLARMETC
Held by institutions – 33.9% 70.2%
Institutions holding – 164 200
Change in shares held, QoQ – +0.6% -5.7%
Institutions buying – 75 106
Institutions selling – 48 48
Buyers to sellers – 1.56 2.21

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

EMATLARMETC
EMAT 1.00 0.22 0.16
LAR 0.22 1.00 0.36
METC 0.16 0.36 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, EMAT, LAR and METC?

Evolution Metals & Technologies (EMAT) is the largest by market capitalisation: Evolution Metals & Technologies (EMAT) $889.16M, Lithium Argentina AG (LAR) $743.82M, Ramaco Resources (METC) $485.86M.

Which company is growing faster?

Lithium Argentina AG (LAR) grew revenue fastest over the trailing twelve months: Lithium Argentina AG (LAR) +371.3%, Ramaco Resources (METC) -17.7%.

Which company is more profitable?

Ramaco Resources (METC) has the highest net margin (Lithium Argentina AG (LAR) -23.9%, Ramaco Resources (METC) -12.0%). On return on invested capital, Lithium Argentina AG (LAR) leads (Lithium Argentina AG (LAR) 0.0%, Ramaco Resources (METC) -6.9%).

Which stock has performed better?

Over the past year Lithium Argentina AG (LAR) returned the most: Evolution Metals & Technologies (EMAT) -88.6%, Lithium Argentina AG (LAR) +1.1%, Ramaco Resources (METC) -77.4%. Over five years, Ramaco Resources (METC) compounded fastest (Lithium Argentina AG (LAR) -16.4%/yr, Ramaco Resources (METC) -13.6%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Lithium Argentina AG (LAR) has been the steadiest (Evolution Metals & Technologies (EMAT) 189.5%, Lithium Argentina AG (LAR) 74.7%, Ramaco Resources (METC) 85.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, EMAT, LAR and METC?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Lithium Argentina AG (LAR) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.