REalloys Inc ALOY

MaterialsMetals & MiningUnited States of America

Last close 6.68 USD on Nov 1, 2026, −17.5% year to date

Quant rating

Quant rating D Rank 128 of 151 in Materials

Growth D 118 of 151
Valuation D 123 of 151
Quality D 135 of 151
Revisions C 81 of 151
Momentum D 112 of 151

Wall Street consensus Buy (2.00)Average target 23.00 USD +244.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 465M
Enterprise value: 343M
52-week range: 5.92 – 26.86
3-year range: 1.63 – 26.86
Dividend yield: –
Beta (5 years): 1.31
Shares outstanding: 69.7M
Next earnings: Oct 26, 2026

About the company

REalloys Inc., formerly Blackboxstocks Inc., is engaged in an integrated North American mine-to-magnet supply chain encompassing upstream resource development, midstream processing, and downstream manufacturing. Its upstream foundation includes Hoidas Lake rare earth asset in Saskatchewan and a diversified network of allied feedstock and recycling partners. The Company, together with the Saskatchewan Research Council, is building a platform to scale North American midstream separation, refining, and metallization capabilities. The platform creates a coordinated system that processes and converts rare-earth materials from allied and domestic sources into high-purity products. Those refined materials feed directly into the downstream manufacturing operations in Euclid, Ohio, where it produces advanced alloys and magnet components utilized in defense, clean energy, and industrial applications. The Company's Ohio facility supports federal logistics and procurement operations.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2.4	2.6	3.1	5.0	6.1	–
Revenue growth	−5.3%	−17.4%	−37.4%	−18.9%	81.5%	−6.3%
EPS (basic, normalized)	–	–	−1.45	−1.52	−1.08	–
EPS growth	–	–	–	–	–	–
Gross margin	48.0%	44.0%	46.4%	58.0%	69.7%	53.2%
Net margin	−182.1%	−135.2%	−150.2%	−101.2%	−42.8%	−122.3%
ROE	−20.7%	−54.7%	−98.5%	−100.4%	−86.3%	−72.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	122
Current ratio	30.68x
Long-term debt (mil)	0
Net debt (mil)	−122
Total equity (mil)	191
Net debt / equity	−0.64x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2.4	−5.3%	141.1x	–	–	–	–	–	–
2026	2.9	+19.8%	117.8x	−19.5	–	−17.6x	−1.25	–	−5.3x
2027	31.9	+996.0%	10.7x	−12.3	+37.0%	−27.9x	−0.24	+80.9%	−27.8x
2028	97.0	+204.0%	3.5x	1.9	+115.8%	176.8x	−0.03	+87.5%	−222.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2.9	0.0%	−17.1%	–	−1.25	0.0%	+16.0%	–
2027	31.9	0.0%	−1.4%	–	−0.24	0.0%	−67.4%	–
2028	97.0	0.0%	−4.4%	–	−0.03	0.0%	−147.4%	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	Jun 2026
Sales reported (mil)	0.6	0.7	0.6	0.6	–	–	–	–	–	0.8
Sales mean (mil)	0.9	–	–	–	–	–	–	–	–	0.7
Surprise	−27.8%	–	–	–	–	–	–	–	–	+19.4%
EPS reported	−0.27	–	–	–	–	–	–	–	–	−0.08
EPS mean	−0.14	–	–	–	–	–	–	–	–	−0.05
Surprise	−92.9%	–	–	–	–	–	–	–	–	−60.0%

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ALOY REalloys Inc	465M	–	−182.1%	2.41x	−5.3x	−27.8x	−17.6x	−27.9x
SSMR Sunshine Silver Mining & Refining Co	1.8B	–	−6,930.8%	5.47x	−34.9x	−45.0x	−29.6x	−37.9x
IE Ivanhoe Electric Inc.	1.2B	1.96x	−3,263.7%	2.34x	−55.0x	−13.4x	54.4x	−18.4x
EMAT Evolution Metals & Technologies Corp	1.0B	–	–	−54.39x	−2.2x	−56.0x	−21.2x	–
SLG San Lorenzo Gold Corp	440M	–	–	17.69x	–	–	–	–
LZM Lifezone Metals Ltd	343M	−1.95x	−1,289.2%	3.64x	−12.7x	−19.1x	–	–
Mean		0.01x	−2,916.4%	−3.81x	−22.0x	−32.3x	−3.5x	−28.1x
Median		0.01x	−2,276.5%	3.02x	−12.7x	−27.8x	−19.4x	−27.9x

Technical analysis

1M−20.7%
3M−8.9%
1Y−19.7%
3Y+203.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, REalloys Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2.4	2.6	3.1	5.0	6.1	3.4
Cost of revenue	1.3	1.4	1.7	2.1	1.9	1.2
Gross profit	1.2	1.1	1.4	2.9	4.3	2.2
Selling, general & administrative expenses	4.8	4.0	5.8	6.2	5.9	2.5
Research & development	0.4	0.4	0.9	1.2	0.6	0.1
Depreciation/amortization	0	0	0	0	0	0
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	0	0	–
Other operating expenses	0	0	0	0	0	0
Operating income	−4.0	−3.3	−5.3	−4.5	−2.2	−0.4
Net interest income (expense)	−0.4	−0.1	0.1	−0.5	−0.4	0.6
Gain (loss) on sale of assets	0	0	–	–	–	–
Other non-operating income (expense)	0	0	0.6	0	0	−0.5
Net income before taxes	−4.4	−3.5	−4.7	−5.0	−2.6	−0.4
Provision for taxes	0	0	0	0	0	0
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−4.4	−3.5	−4.7	−5.0	−2.6	−0.4
Extraordinary items	–	–	–	–	–	–
Net income	−4.4	−3.5	−4.7	−5.0	−2.6	−0.4
EBIT, normalized	−4.0	−3.3	−5.3	−4.5	−2.3	−0.4
EBITDA, normalized	−4.0	−3.3	−5.3	−4.5	−2.3	−0.4
Basic EPS, normalized	–	–	−1.45	−1.52	−1.08	–

Balance sheet in millions of USD, fiscal years

Balance sheet, REalloys Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	2.8	0	0.5	3.6	10.4	1.0
Receivables	0.7	1.1	0.5	0.1	0	0
Total inventory	0	0	0	0	0	0
Prepaid expenses	35.0	0	0	0.2	0.2	0.1
Other current assets	0	0	0	0	0	0
Total current assets	38.5	1.2	1.0	3.9	10.7	1.1
Property, plant & equipment	51.5	0.3	0.4	0.4	0.4	0.1
Goodwill	2.1	–	–	–	–	–
Intangibles	1.3	–	–	–	–	–
Long-term investments	0	8.4	8.4	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	0	0	0	0	0	0
Total assets	93.4	9.9	9.8	4.3	11.2	1.2
Liabilities
Accounts payable	3.4	1.6	0.8	0.7	0.6	0.4
Payable/accrued	–	–	–	–	–	–
Accrued expenses	0.6	0.1	0.1	0.1	0.1	0.1
Short-term debt	0.1	0.2	0	0	0	0.4
Current portion of long-term debt	–	0	0	0	1.0	0
Other current liabilities	3.0	2.4	1.3	1.0	1.3	1.2
Total current liabilities	7.2	4.3	2.2	1.9	2.9	2.0
Long-term debt	0.2	0	0	0	0.1	0.9
Minority interest	–	–	–	–	–	–
Other liabilities	48.7	0.2	0.3	0.3	0.3	0
Total liabilities	56.0	4.5	2.5	2.2	3.3	2.9
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	0	0	0	0	0	0
Additional paid-in capital	118	28.3	26.8	18.1	17.6	5.4
Retained earnings (accumulated deficit)	−81.1	−23.0	−19.5	−14.8	−9.8	−7.2
Treasury stock	–	0	0	−1.1	–	–
Other equity	0	0	0	0	0	0
Total equity	37.3	5.4	7.3	2.2	7.8	−1.8
Total liabilities & shareholders' equity	93.4	9.9	9.8	4.3	11.2	1.2

Cash flow statement in millions of USD, fiscal years

Cash flow statement, REalloys Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−4.4	−3.5	−4.7	−5.0	−2.6	−0.4
Depreciation, depletion & amortization	0	0	0	0	0	0
Deferred taxes	–	–	–	–	–	–
Non-cash items	1.7	0.5	1.4	0.9	1.6	0
Changes in working capital	−0.4	2.2	0.1	−0.1	0.4	0.5
Cash from operations	−3.2	−0.7	−3.2	−4.3	−0.7	0.1
Investing activities
Capital expenditures	–	0	0	−0.1	−0.1	0
Other investing cash flows	0	−1.1	3.3	4.5	−8.0	0
Cash from investing	0	−1.1	3.3	4.4	−8.1	0
Financing activities
Financing cash flow items	–	–	–	–	0	0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	3.2	1.3	−0.1	−2.1	10.2	0.8
Cash from financing	3.2	1.3	−0.1	−2.1	10.2	0.8
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	0	−0.5	0	−2.0	1.5	1.0
Free cash flow	−3.2	−0.7	−3.2	−4.4	−0.7	0.1

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.