olivLaw · European equity research
Critical Metals plc CRTM.L
United Kingdom · London Stock Exchange · ISIN GB00BPP06126 · Vertical: Listed companies from United Kingdom
Critical Metals plc is a UK-listed natural resources company developing the Molulu Project in the Democratic Republic of Congo, in which it holds a 70% stake. The company is still at an early, pre-production stage, so progress toward production at Molulu is the main thing to watch.
At the close of 05 Nov 2026, Critical Metals plc (CRTM.L) stock was 0.91 GBP (−2.15% on the day), with beta 0.36, 52-week range 0.06–0.96 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 71.4
- overbought (≥ 70)
- Bollinger (20, 2)
- 0.28 – 1.14
- in the upper half of the band · %B 0.73 · band width 120.4%
- SMA 50 / 200
- 0.39 / 0.17
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.16 / 0.16
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +201.3% | −0.6% | +202.0 pp | — |
| 3 months | +1,300.0% | −4.2% | +1,304.2 pp | — |
| 6 months | +940.0% | +4.3% | +935.7 pp | — |
| Year to date | +708.9% | +7.5% | +701.4 pp | — |
| 1 year | +810.0% | +9.9% | +800.1 pp | +5.8% |
| 3 years | −46.5% | +49.8% | −96.3 pp | +26.3% |
| 5 years | unavailable | +42.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable |
| Net income | -661.5 k | -2.5 m | -2.5 m | -2.3 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable | unavailable |
| Free cash flow | -593.4 k | -2.5 m | -2.7 m | -662.4 k |
Balance sheet & financial health
Fiscal year 2025 · 30 Jun 2025
- Cash
- 7.2 k GBP
- Financial debt
- 3.8 m GBP
- Net debt
- 3.8 m GBP
- Equity
- -1.9 m GBP
- Total assets
- 4.2 m GBP
- Debt / equity
- unavailable
- Current ratio
- 0.01x
- ROE
- unavailable
- ROA
- -52.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Income statement · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | esef· 18 Nov 2025verified |
| Operating income | -663.9 k | -2.7 m | -2.6 m | -1.8 m | esef· 18 Nov 2025verified |
| Interest expense | -2.1 k | 39.2 k | 169.9 k | 583.5 k | esef· 18 Nov 2025verified |
| Pre-tax income | -661.7 k | -2.7 m | -2.8 m | -2.4 m | esef· 18 Nov 2025verified |
| Income tax | 0 | 0 | 0 | 0 | esef· 18 Nov 2025verified |
| Net income | -661.5 k | -2.5 m | -2.5 m | -2.3 m | esef· 18 Nov 2025verified |
Balance sheet · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 824.3 k | 411.7 k | 61.1 k | 7.2 k | esef· 18 Nov 2025verified |
| Receivables | 55.4 k | 266.3 k | 70.3 k | 34.8 k | esef· 18 Nov 2025verified |
| Current assets | 879.7 k | 678.0 k | 131.4 k | 41.9 k | esef· 18 Nov 2025verified |
| Property, plant & equipment, net | 0 | 4.0 m | 4.4 m | 4.2 m | esef· 18 Nov 2025verified |
| Total assets | 919.5 k | 4.7 m | 4.6 m | 4.2 m | esef· 18 Nov 2025verified |
| Short-term debt | — | — | 2.9 m | 3.7 m | esef· 18 Nov 2025verified |
| Long-term debt | — | — | 0 | 124.6 k | esef· 18 Nov 2025verified |
| Current liabilities | — | — | 4.6 m | 6.0 m | esef· 18 Nov 2025verified |
| Total liabilities | 110.9 k | 2.3 m | 4.6 m | 6.1 m | esef· 18 Nov 2025verified |
| Equity | 808.6 k | 2.4 m | -19.3 k | -1.9 m | esef· 18 Nov 2025verified |
Cash flow · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | -593.4 k | -1.7 m | -2.2 m | -542.7 k | esef· 18 Nov 2025verified |
| Capex | 0 | 773.3 k | 496.0 k | 119.7 k | esef· 18 Nov 2025verified |
| Free cash flow | -593.4 k ≈ | -2.5 m ≈ | -2.7 m ≈ | -662.4 k ≈ | esef· 18 Nov 2025derived |
| Investing cash flow | -39.8 k | -2.3 m | -570.6 k | -119.7 k | esef· 18 Nov 2025verified |
| Financing cash flow | 0 | 3.6 m | 2.4 m | 609.2 k | esef· 18 Nov 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 10.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
10% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 10.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -3.2x | 0 (on a fixed band) | 60% |
| Current ratio · Balance sheet | 0.0x | 0 (on a fixed band) | 40% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CRITICAL METALS PLC (CRTM.L). Latest full fiscal year: 2025; data up to 2025-06-30.
Figures computed from the financial statements: revenue 0 GBP in 2025.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 10.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Interest coverage: -3.2x
- Current ratio: 0.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
| AEP.LAnglo-Eastern Plantations PLC | — | — | 16.1% | 19.5% | +25.0% | +5% / +113% |
1- and 3-year price returns: for CRTM.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Critical Metals plc is a UK-listed natural resources company developing the Molulu Project in the Democratic Republic of Congo, in which it holds a 70% stake. The company is still at an early, pre-production stage, so progress toward production at Molulu is the main thing to watch 1.
SWOT
Strengths
- The company holds a majority stake in the Molulu Project and has completed infrastructure works that support site access 1.
- A low fixed cost base allows production to be paused during weak price periods, which could protect liquidity 1.
- The workforce is largely local, and community relations include local food purchases and social projects, which could strengthen acceptance of the project 1.
Weaknesses
- The company has not yet entered production and has not confirmed an economically extractable resource, so revenues remain uncertain 1.
- The pre-tax loss and absence of operating revenue point to reliance on external funding 1.
- The management team is small, and losing key personnel could affect operations 1.
Opportunities
Risks
- Resource uncertaintyhigh
There is not yet enough data to confirm an economically extractable resource, and further exploration does not guarantee results 1.
- Metal priceshigh
Future revenues depend on copper and cobalt prices, which can fluctuate sharply 1.
- Political risk in the DRChigh
The company describes the country's political stability as fragile, with a recent history of upheaval 1.
- Fundingmedium
The company could need additional capital for working capital and to expand capacity 1.
- Energy and environmentmedium
The lack of grid power and reliance on generators could affect production, and environmental impact will require a formal rehabilitation plan 1.
Investment thesis
What would need to be true (bull case)
- If the Molulu Project confirms an economic resource and enters production, the company could turn a development stage into a revenue-generating operation 1.
- The upgraded infrastructure and low fixed costs could offer operational flexibility during periods of low prices 1.
- Local integration and community support projects could strengthen relations with authorities and residents 1.
What would break the thesis
- The company has no production yet and has not confirmed an extractable resource, so development risks could persist for a long time 1.
- Continuing losses and reliance on external funding could limit the company's ability to sustain its plans 1.
- Political instability and metal price volatility could reduce the project's value even if production begins 1.
What to watch
- Confirmation of an economically extractable resource at Molulu2027
- Start of commercial production at the Molulu Projectnext 10-K
- Trend in the pre-tax loss and cash positionnext 10-K
- Shareholder structure after the capital restructuring2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company was incorporated in 2018 to acquire and develop natural resources assets. Its main activity is developing the Molulu Project in the DRC, where it owns 70% and where exploratory drilling has been carried out; in fiscal 2025 it completed infrastructure works, including a 28 km road upgrade 1. The project lies about 100 km north of Lubumbashi, where the nearest smelters and international airport are located 1. For fiscal 2025 the group recorded a loss before taxation of 2.49 million GBP, compared with the prior year 1. The company says it is also looking at other opportunities in sub-Saharan Africa, but these will be analysed once Molulu is in production 1.
In terms of ownership, NIU Invest SE held around 69.6% as at 29 October 2025, following a capital restructuring after the year end 1. The directors have voluntarily adopted the QCA corporate governance code as far as practicable 1.
Operationally, the company relies on earthmoving and drilling contractors and local suppliers, and its workforce is largely made up of DRC citizens, with only five expatriate positions in the employment roster 1.
Segments
Molulu Project (copper and cobalt)
The Molulu Project is the only asset the company describes, and its targets are copper and cobalt. The company says there is not yet enough data to confirm an economically extractable resource, and production is still at small scale 1.
Exploration and development elsewhere
The company says it is analysing other investment opportunities in sub-Saharan Africa, but these are deferred until Molulu is in production 1.
Market context
The company's potential revenues depend indirectly on copper and cobalt prices, which fluctuate with global demand, production costs in major regions and macroeconomic factors 1. The company notes that its low fixed cost base allows it to pause production if prices fall 1.
The copper market in the DRC is competitive, with a growing number of international miners and large producers, which could put pressure on prices and market share for a small new entrant 1.
Trends
- Demand for critical mineralsmixed
Directors point to a focus on African natural resources, particularly critical metals, which could attract capital if projects reach production 1.
- Base metal price volatilityheadwind
Copper and cobalt prices have fallen sharply in the past and can swing widely, which could affect future revenues if production starts at unfavourable prices 1.
- Local infrastructuretailwind
Road improvements and better project access could lower logistics costs, and the company has already invested here, including rehabilitating a bridge also used by the community 1.
- Political stability in the DRCheadwind
The company stresses that the DRC is a relatively young democracy, which may make its political environment less stable and could influence development plans 1.
Competitive position
The company describes competition as a significant risk, since it operates as a small-scale new entrant in the DRC copper market alongside large international producers 1. The report does not name competitors or provide market share comparisons 1.
The available sources do not name specific listed competitors, so the company's relative position against other operators cannot be assessed from them 1.
- International copper producers in the DRC
The report refers only generically to large international producers active in the region, without naming them 1.
- Large-scale cobalt producers
Competition in cobalt is described generically in the report, without identifying specific entities 1.
- Local small-scale operators
The report mentions pressure from small-scale DRC producers without naming them 1.
- Other African resource developers
The company analyses other projects in sub-Saharan Africa but does not identify direct competitors 1.
News & filings
In the press
- Critical Metals, compania americană în spatele căreia ar fi controversatul Frank Timiș și care vrea să construiască la Feldioara o fabrică de procesare a metalelor rare, și-a înființat o firmă în RomâniaEconomedia · 28 Sept 2026 · RO
- Critical Metals Surges 38% and These Greenland Stocks Soar on Trump’s Security DealYahoo Finance — News · 21 Sept 2026 · EN
- Critical Metals Surges 35% on Greenland Pact. The Tanbreez Opportunity Is Huge — But So Is the Risk.Yahoo Finance — News · 21 Sept 2026 · EN
- Stocks making the biggest moves midday: Advanced Micro Devices, Intel, Paramount, Critical Metals & moreCNBC — Top News · 21 Sept 2026 · EN
- Why Critical Metals Stock Is Rocketing Higher TodayYahoo Finance — News · 21 Sept 2026 · EN
- Greenland Deal Fuels Critical Metals; Rare Earth Stocks Hinge On Trump-XiYahoo Finance — News · 21 Sept 2026 · EN
- Inside the New War for Critical MetalsBloomberg Markets · 21 Sept 2026 · EN
- Critical Metals Surges 25% as Greenland Security Pact Puts Tanbreez Rare Earth Permit in Focus; USA Rare Earth Climbs 6%, MP Materials Rises 4%Yahoo Finance — News · 21 Sept 2026 · EN
- Critical Metals estimează venituri de până la 2,2 miliarde de dolari pentru rafinăria de metale rare din RomâniaSpotMedia.ro · 21 Sept 2026 · RO
- Nuclearelectrica: Nicio decizie privind parteneriatul FPCU Feldioara – Critical Metals Corp; Studiul de prefezabilitate al CRML nu este validat de SNN și nu au fost alocate sau cheltuite fonduriFinancial Intelligence (RO) · 18 Sept 2026 · RO
- Critical Metals estimează venituri de până la 2,2 mld. $ pentru rafinăria de metale rare din RomâniaCursDeGuvernare.ro · 18 Sept 2026 · RO
- Miliarde de dolari pentru România. Critical Metals crește pe bursă după estimările privind veniturile anuale de 2,2 miliarde dolari din proiectul propus RomânieiProfit.ro · 17 Sept 2026 · RO
- Rare Earth Stocks Tumble on U.S.-China Thaw Hopes: USA Rare Earth Sinks 4%, MP Materials Drops 5%, Critical Metals SlipsYahoo Finance — News · 10 Sept 2026 · EN
- What new tariff walls in U.S.-Canada trade war mean for the economy's critical metalsCNBC World · 30 Aug 2026 · EN
- Critical Metals Spikes 19%, MP Materials and United States Antimony Lag: Is the European Lithium Merger Driving the Move?Yahoo Finance — News · 25 Aug 2026 · EN
- The Metals Company Is Riding the Critical Metals Boom. Here's Why I Still Wouldn't Touch It.Yahoo Finance — News · 23 Aug 2026 · EN
- Forget Critical Metals, Electricity is The Real Bottleneck for Artificial IntellOil Price · 19 Jun 2026 · EN
- Why China is looking to coal waste as a source of critical metalsSouth China Morning Post — China · 23 May 2026 · RO
- Boston Metal gets a $75 million lifeline to produce critical metalsMIT Technology Review · 20 May 2026 · EN
Annual reports (ESEF)
- Annual report 202518 Nov 2025
- Annual report 202315 Nov 2023
Sources
- [1] Annual report, fiscal year ended 2025-06-30 (ESEF) · SEC / Critical Metals plc · 30 Jun 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.