Tearsheet

Lithium Argentina (LAR)

Market Price (10/31/2025): $4.27 | Market Cap: $691.7 Mil
Sector: Materials | Industry: Diversified Metals & Mining

Lithium Argentina (LAR)

Market Price (10/31/2025): $4.27
Market Cap: $691.7 Mil
Sector: Materials
Industry: Diversified Metals & Mining

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0			Very low revenue Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
1			Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -37 Mil
2			Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 71x
3			Stock price has recently run up significantly 6M Rtn6 month market price return is 109%
4			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.2%

0	Very low revenue Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
1	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -37 Mil
2	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 71x
3	Stock price has recently run up significantly 6M Rtn6 month market price return is 109%
4	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.2%

Market Valuation & Key Metrics

Valuation
Key Metrics

	10/31/25	2024	2023	2022	2021
Share Price CYE	$4.27
Market Cap CYE ($ Mil)	691.7	-	-	-	-
Total Debt ($ Mil)	221.3	210.7	203.0	207.6	265.0
Total Cash ($ Mil)	68.0	85.5	122.3	352.1	510.6
Enterprise Value ($ Mil)	845.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0	0.0	0.0
P/EBIT TTM	71.1	0.0	0.0	0.0	0.0
P/E TTM	-37.3	0.0	0.0	0.0	0.0
Sector Ratios
P/S TTM (Sector)	1.6	1.2	1.3	1.1	1.5
P/EBIT TTM (Sector)	6.6	6.3	6.6	4.8	5.7
P/E TTM (Sector)	4.6	5.5	7.5	4.6	7.1

	10/31/25	2024	2023
Share Price CYE	$4.27
Market Cap CYE ($ Mil)	691.7	-	-
Total Debt ($ Mil)	221.3	210.7	203.0
Total Cash ($ Mil)	68.0	85.5	122.3
Enterprise Value ($ Mil)	845.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0
P/EBIT TTM	71.1	0.0	0.0
P/E TTM	-37.3	0.0	0.0
Sector Ratios
P/S TTM (Sector)	1.6	1.2	1.3
P/EBIT TTM (Sector)	6.6	6.3	6.6
P/E TTM (Sector)	4.6	5.5	7.5

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LAR Stock

Return (1M):

Factor Drivers of Stock Movement

The 60.4% change in LAR stock from 7/31/2025 to 10/30/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

	7312025	10302025	Change
Stock Price ($)	2.65	4.25	60.38%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	0.00	0.00	�
P/S Multiple	∞	∞	�
Shares Outstanding (Mil)	161.94	162.00	-0.03%
Cumulative Contribution			�

LTM = Last Twelve Months as of date shown

The 109.4% change in LAR stock from 5/1/2025 to 10/30/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

	5012025	10302025	Change
Stock Price ($)	2.03	4.25	109.36%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	0.00	0.00	�
P/S Multiple	∞	∞	�
Shares Outstanding (Mil)	161.94	162.00	-0.04%
Cumulative Contribution			�

LTM = Last Twelve Months as of date shown

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
LAR Return	-	-	-	-	-	-	0%
Peers Return	34%	3%	14%	-7%	-11%	50%	96%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	110%
Monthly Win Rates [3]
LAR Win Rate	-	-	-	-	-	38%
Peers Win Rate	33%	27%	32%	32%	28%	76%
S&P 500 Win Rate	58%	75%	42%	67%	75%	67%
Max Drawdowns [4]
LAR Max Drawdown	-	-	-	-	-	-
Peers Max Drawdown	-32%	-10%	-9%	-15%	-17%	-21%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: VALE, WRN, XPL, ALM, CRML.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

LAR has limited trading history. Below is the Materials sector ETF (XLB) in its place.

Unique Key	Event	XLB	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-25.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	34.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	534 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-37.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	60.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	121 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-26.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	35.4%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	617 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-60.7%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	154.6%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1761 days	1480 days

Compare to

In The Past

Materials Select Sector SPDR's stock fell -25.7% during the 2022 Inflation Shock from a high on 4/20/2022. A -25.7% loss requires a 34.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Lithium Argentina (LAR)

Business Description

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp. and changed its name to Lithium Argentina AG in January 2025. Lithium Argentina AG was incorporated in 2007 is headquartered in Zug, Switzerland.

Better Bets than Lithium Argentina (LAR)

	LAR	Better Performance than LAR
Metric	Value	Industry (Diversified Metals & Mining)
Total Yield	-2.7%	VALE (10.3%), TECK (7.1%), MP (-1.0%), MTRN (0.9%), VZLA (-1.1%)

	LAR	Better Performance than LAR
Metric	Value	Sector (Materials)
Total Yield	-2.7%	LIN (4.7%), SCCO (4.6%), NEM (9.2%), SHW (3.9%), AEM (5.1%)

	LAR	Better Performance than LAR
Metric	Value	All Other Sectors
Total Yield	-2.7%	NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%)

		Best Bets In Materials Sector
	LAR	RGLD	USLM	SCCO	CF	EXP	LIN	NEU	NEM	CBT	AXTA
What You Pay
P/E	-37.2	26.0	28.0	31.0	10.4	15.5	30.2	14.7	12.6	8.5	13.5
P/EBIT	70.8	22.3	24.2	18.4	6.6	11.3	21.7	10.7	8.6	5.5	8.2
What You Get
Rev Chg Q	�	20.4%	19.6%	20.1%	20.2%	4.3%	2.8%	0.6%	20.0%	-9.2%	-2.4%
Rev Chg LTM	�	30.1%	22.0%	23.2%	9.5%	0.9%	1.3%	3.7%	26.6%	-3.6%	-1.8%
Rev Chg 3Y Avg	�	8.2%	19.1%	3.3%	-12.4%	5.6%	0.6%	4.7%	23.9%	-2.5%	2.7%
FCF/Rev 3Y Avg	�	10.2%	24.7%	23.7%	21.3%	17.5%	15.4%	14.0%	13.8%	8.9%	8.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.8%, and sharpe of 0.46

Trade Ideas

Select past ideas related to LAR. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AXTA_9302025_Dip_Buyer_FCFYield	09302025	AXTA	Axalta Coating Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.0%	3.0%	-7.8%
GPK_9302025_Dip_Buyer_ValueBuy	09302025	GPK	Graphic Packaging	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-16.8%	-16.8%	-16.8%
FCX_9302025_Monopoly_xInd_xCD_Getting_Cheaper	09302025	FCX	Freeport-McMoRan	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	8.0%	8.0%	-0.9%
KWR_7312025_Dip_Buyer_FCFYield	07312025	KWR	Quaker Houghton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.5%	14.5%	0.0%
TGLS_6302025_Quality_Momentum_RoomToRun_10%	06302025	TGLS	Tecnoglass	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-23.1%	-23.1%	-23.3%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AXTA_9302025_Dip_Buyer_FCFYield	09302025	AXTA	Axalta Coating Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.0%	3.0%	-7.8%
GPK_9302025_Dip_Buyer_ValueBuy	09302025	GPK	Graphic Packaging	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-16.8%	-16.8%	-16.8%
FCX_9302025_Monopoly_xInd_xCD_Getting_Cheaper	09302025	FCX	Freeport-McMoRan	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	8.0%	8.0%	-0.9%
KWR_7312025_Dip_Buyer_FCFYield	07312025	KWR	Quaker Houghton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.5%	14.5%	0.0%
TGLS_6302025_Quality_Momentum_RoomToRun_10%	06302025	TGLS	Tecnoglass	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-23.1%	-23.1%	-23.3%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	279.1%	161.2%
2	INBX	Inhibrx Biosciences	131.0%	409.8%
3	PUMP	ProPetro	99.6%	16.2%
4	DYN	Dyne Therapeutics	88.4%	-0.0%
5	VICR	Vicor	85.4%	89.2%
6	CELC	Celcuity	74.6%	503.2%
7	GLUE	Monte Rosa Therapeutics	73.5%	87.5%
8	NVTS	Navitas Semiconductor	72.1%	251.8%
9	LUMN	Lumen Technologies	70.3%	94.7%
10	BALY	Ballys	63.4%	4.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	-62.9%	5106.3%
2	LRN	Stride	-53.8%	-35.8%
3	FMC	FMC	-51.0%	-66.6%
4	FI	Fiserv	-48.3%	-68.3%
5	NFE	New Fortress Energy	-43.6%	-91.9%
6	VG	Venture Global	-41.7%
7	OGN	Organon	-40.2%	-55.0%
8	VRNS	Varonis Systems	-39.5%	-21.2%
9	ITGR	Integer	-38.5%	-52.2%
10	LENZ	LENZ Therapeutics	-37.9%	5.5%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

Peer Comparisons for Lithium Argentina

Financials

	LAR	VALE	WRN	XPL	ALM	CRML	Median
Name	Lithium .	Vale	Western .	Solitari.	Almonty .	Critical.
Mkt Price	4.25	11.89	2.10	0.69	6.76	12.88	5.50
Mkt Cap	0.7	50.8	0.4	0.1	-	-	0.6
Rev LTM	0	36,600	0	0	28	-	0
Op Inc LTM	-37	9,986	-8	-6	-20	-	-8
FCF LTM	-33	1,957	-22	-5	-55	-	-22
FCF 3Y Avg	-48	4,519	-23	-4	-42	-	-23
CFO LTM	-33	8,104	-5	-5	-20	-	-5
CFO 3Y Avg	-44	10,455	-4	-4	-13	-	-4

Growth & Margins

	LAR	VALE	WRN	XPL	ALM	CRML	Median
Name	Lithium .	Vale	Western .	Solitari.	Almonty .	Critical.
Rev Chg LTM	-	-13.0%	-	-	9.9%	-	-1.5%
Rev Chg 3Y Avg	-	-7.8%	-	-	4.6%	-	-1.6%
Rev Chg Q	-	-11.2%	-	-	-9.4%	-	-10.3%
QoQ Delta Rev Chg LTM	-	-3.0%	-	-	-2.6%	-	-2.8%
Op Mgn LTM	-	27.3%	-	-	-71.3%	-	-22.0%
Op Mgn 3Y Avg	-	32.4%	-	-	-42.8%	-	-5.2%
QoQ Delta Op Mgn LTM	-	-1.1%	-	-	-39.7%	-	-20.4%
CFO/Rev LTM	-	22.1%	-	-	-69.9%	-	-23.9%
CFO/Rev 3Y Avg	-	26.3%	-	-	-50.4%	-	-12.1%
FCF/Rev LTM	-	5.3%	-	-	-193.7%	-	-94.2%
FCF/Rev 3Y Avg	-	11.2%	-	-	-160.1%	-	-74.4%

Valuation

	LAR	VALE	WRN	XPL	ALM	CRML	Median
Name	Lithium .	Vale	Western .	Solitari.	Almonty .	Critical.
Mkt Cap	0.7	50.8	0.4	0.1	-	-	0.6
P/S	-	1.4	-	-	-	-	1.4
P/EBIT	70.8	6.8	-50.5	-9.9	-	-	-1.5
P/E	-37.2	9.7	-118.7	-10.9	-	-	-24.0
P/CFO	-20.8	6.3	-89.0	-11.8	-	-	-16.3
Total Yield	-2.7%	10.3%	-0.8%	-9.2%	-	-	-1.8%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	-	-	0.0%
FCF Yield 3Y Avg	-	8.9%	-9.7%	-7.8%	-	-	-7.8%
D/E	0.3	0.4	0.0	0.0	-	-	0.2
Net D/E	0.2	0.3	-0.1	-0.2	-	-	0.0

Returns

	LAR	VALE	WRN	XPL	ALM	CRML	Median
Name	Lithium .	Vale	Western .	Solitari.	Almonty .	Critical.
1M Rtn	27.2%	9.5%	6.6%	-0.7%	12.1%	107.1%	10.8%
3M Rtn	60.4%	29.0%	70.7%	0.4%	83.2%	241.6%	65.6%
6M Rtn	109.4%	33.1%	90.9%	12.0%	-	731.0%	90.9%
12M Rtn	-	19.3%	94.4%	2.1%	-	99.1%	56.9%
3Y Rtn	-	17.5%	59.1%	28.3%	-	-	28.3%
1M Excs Rtn	16.1%	6.6%	4.4%	-0.3%	11.0%	80.0%	8.8%
3M Excs Rtn	52.8%	17.2%	65.6%	-8.2%	70.4%	228.7%	59.2%
6M Excs Rtn	87.6%	11.3%	69.2%	-9.8%	-	709.2%	69.2%
12M Excs Rtn	-	-0.0%	65.5%	-16.5%	-	89.6%	32.7%
3Y Excs Rtn	-	-64.6%	-17.7%	-48.5%	-	-	-48.5%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	8/11/2025	3/31/2025	3/21/2024	4/3/2023	3/18/2022	3/3/2021	3/16/2020
Key Financials
Total Revenue	0	0	0	0	0	0	0
EBITDA	10	-0	52	-11	-25	-30	59
Operating Income	-37	-32	-51	-21	-52	-32	-19
Net Income	-19	-15	1,288	-94	-38	-36	52
EPS	-0.11	-0.09	8.29	-0.70	-0.32	-0.39	0.58
Growth Rates
Total Revenue Growth	-	-	-	-	-	-	-
EBITDA Growth	-54.9%	-100.0%	552.6%	54.7%	14.7%	-150.0%	589.4%
Operating Income Growth	24.4%	37.3%	-146.8%	60.0%	-61.4%	-65.8%	17.2%
Net Income Growth	-101.5%	-101.2%	1476.9%	-143.1%	-6.2%	-170.1%	282.8%
Margins
EBITDA Margin	-	-	-	-	-	-	-
Operating Income Margin	-	-	-	-	-	-	-
Net Income Margin	-	-	-	-	-	-	-
Cash & Debt
Total Cash	68	86	122	352	511	148	84
Total Debt	221	211	203	208	265	125	115
Net Debt / (Cash)	153	125	81	-145	-246	-23	31
Cash Flows
Net Cash from Operations	-33	-22	-59	-65	-53	-31	-18
Free Cash from Operations	-33	-23	-67	-67	-55	-93	-47
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	8/11/2025	5/15/2025	3/31/2025	11/6/2024	8/14/2024	5/14/2024	3/21/2024	11/8/2023	8/11/2023	5/17/2023	4/3/2023	10/28/2022
Key Financials Quarterly
Total Revenue	0	0	0	0	0	0	0	0	0	0	0	0
Ebitda	3	1	2	4	-2	-4	16	13	21	3	35	-25
Operating Income	-10	-10	-9	-8	-7	-9	-26	-7	-10	-7	-9	-5
Net Income	-4	-7	-5	-2	2	-10	1,262	7	26	-6	10	-41
EPS	-0.03	-0.04	-0.03	-0.01	0.01	-0.06	8.12	0.04	0.16	-0.04	0.08	-0.30
Key Financials TTM
Total Revenue TTM	0	0	0	0	0	0	0	0	0	0	0	0
Ebitda TTM	10	5	-0	14	23	46	53	71	34	2	-41	-64
Operating Income TTM	-37	-34	-32	-50	-49	-52	-51	-33	-31	-39	-47	-54
Net Income TTM	-19	-12	-15	1,252	1,261	1,285	1,288	36	-11	-54	-94	-96
Growth Rates Quarterly
Total Revenue Growth	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA Growth	229.9%	136.1%	-88.1%	-67.4%	-110.4%	-248.1%	-53.1%	151.6%	293.7%	106.5%	183.3%	-78.9%
Operating Income Growth	-50.1%	-19.2%	67.1%	-8.7%	32.6%	-19.7%	-200.8%	-47.4%	44.1%	51.6%	43.2%	68.8%
Net Income Growth	-288.0%	29.2%	-100.4%	-136.3%	-91.6%	-59.1%	12376.2%	116.1%	255.9%	86.1%	26.8%	-138.2%
Margins Quarterly
EBITDA Margin	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income Margin	-	-	-	-	-	-	-	-	-	-	-	-
Net Income Margin	-	-	-	-	-	-	-	-	-	-	-	-
Cash & Debt
Total Cash	68	74	86	92	96	86	122	147	502	604	352	392
Total Debt	221	215	211	206	202	202	203	195	203	212	208	239
Net Debt / (Cash)	153	141	125	113	106	116	81	48	-299	-392	-145	-153
Cash Flows Quarterly
FCF from Operations	-6	-15	-5	-8	-1	-8	-15	-13	-12	-19	-14	-17
Cash Flows TTM
FCF from Operations TTM	-33	-29	-22	-32	-37	-48	-59	-58	-62	-66	-65	-67
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-2.5%	-2.5%	-2.1%	-1.9%	-1.7%	-2.1%	-6.0%	-1.9%	-3.5%	-3.0%	-3.1%	-2.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-2.2%	-1.2%	-1.2%	-3.1%	-3.1%	-1.6%	-1.8%	-2.2%	-2.6%	-4.2%	-4.2%	-5.9%

Segment Financials

Net Income by Segment

$ Mil	2024	2023	2022	2021	2020
Thacker Pass	1,256	-47	-39	-18	-9
Corporate	23	3	-6	-16	60
Cauchari-Olaroz	16	-45	6	-1	3
Pastos Grandes Basin	-7
Millennial Projects		-4
Organoclay			0	-1	-2
Total	1,288	-94	-38	-36	52

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Pastos Grandes Basin	536
Cauchari-Olaroz	388	271	275	131	249
Corporate	131	375	532	185	34
Millennial Projects		354
Thacker Pass		16	11	6	6
Organoclay				4	6
Total	1,055	1,017	817	327	294

	1M	2M	3M	6M	1Y	3Y
Beta	-1.91	-1.11	-0.22	1.07	-0.06	-0.10
Up Beta	4.02	1.25	-1.11	1.27	0.34	0.66
Down Beta	1.29	3.42	1.37	1.13	-0.51	-0.33
Up Capture	-218%	-106%	141%	107%	54%	5%
Bmk +ve Days	13	23	35	74	144	420
Stock +ve Days	9	18	31	56	71	71
Down Capture	-477%	-649%	-275%	46%	66%	42%
Bmk -ve Days	8	19	29	52	107	330
Stock -ve Days	11	23	31	61	88	88

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	8,879,984
Short Interest: % Change Since 9302025	8.8%
Average Daily Volume	6,485,657
Days-to-Cover Short Interest	1.37
Basic Shares Quantity	161,999,000
Short % of Basic Shares	5.5%

Insider Activity

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2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Lithium Argentina (LAR)

Market Price (10/31/2025): $4.27 | Market Cap: $691.7 MilSector: Materials | Industry: Diversified Metals & Mining

Lithium Argentina (LAR)

Market Price (10/31/2025): $4.27Market Cap: $691.7 MilSector: MaterialsIndustry: Diversified Metals & Mining

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Market Price (10/31/2025): $4.27 | Market Cap: $691.7 Mil
Sector: Materials | Industry: Diversified Metals & Mining

Market Price (10/31/2025): $4.27
Market Cap: $691.7 Mil
Sector: Materials
Industry: Diversified Metals & Mining