Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
Westwater Resources, Inc.WWR · other
GradeNonecomputable_factors_below_threshold: 4 of 14 inputs computable; 7 are required
Reliability0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025
Peer failure rate1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size band$120M to $591M assetstotal assets $194.5M[1]
Standard universeoutsiderevenue above $1M and assets above $10M[1-2]
Warningsdilution, thin data, degenerate inputsnot computable: distress
Inputs computable4 of 14
Graded fromfilings received through Mar 19, 2026204 days before the rescan; every figure keyed to the SEC receipt date
Last close$0.452026-10-08; market equity $58.1M; iex feed
Price used in gradeNone
Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history
$2NovDecJanFebMarAprMayJunJulAugSepOct$0.45
ABCDE20132014201520162017201820192020202120222023202420252026

Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date.

Open this report as it stood on

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Mar 21, 2012nonen/aQ2
Feb 21, 2022nonen/aQ3

Each date opens the report as it stood on that rescan.

Business, in the company's words. Opening of Item 1 of the 10-K received Mar 19, 2026; the document on sec.gov.

Westwater Resources, Inc., is an energy technology company focused on developing battery-grade natural graphite materials through a vertically integrated, mine-to-market strategy anchored by its two primary projects in Coosa County, Alabama: the Kellyton Graphite Plant and the Coosa Graphite Deposit. Although the Company was originally incorporated in 1977, it shifted its strategic focus to the graphite business in 2017. Once operational, Westwater expects the Kellyton Graphite Plant to process natural flake graphite and estimates 12,500 metric tons (“mt”) of CSPG production per year in Phase I. CSPG is primarily used in anode active material (“AAM”) in lithium-ion batteries.

Warnings [top]

Dilution. split-adjusted year-over-year share growth is 74.8%[3-4]
Thin data. 4 of 14 grade factors are computable; minimum is 7
Degenerate inputs. latest revenue or assets are at or below the $100,000 validity floor[1-2]

7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 25.5
Gross profitabilitynot computable27.1%
required facts have no common fiscal period end
Return on invested capitalnot computable10.0%
required facts have no common fiscal period end
Accruals ratio(10.2%)[1,5-7](5.9%)25.55062025-12-31
Gross margin stability, five yearsnot computable2.2 pts
five annual gross margins are required; found 0
Solvency, sleeve percentile 8.7
Twelve-month failure probabilitynot computable0.04%
latest liabilities, cash plus short-term investments, book equity, and shares are required
Altman Z double-primenot computable2.05
latest aligned inputs end 2020-12-31; latest annual assets end 2025-12-31
Net debt to EBITDAnot computable2.52x
EBITDA must exceed $100,000
Interest coveragenot computable2.18x
latest aligned inputs end 2013-12-31; latest annual assets end 2025-12-31
Current ratio4.20x[8-9]1.32x8.75062025-12-31
Growth and financing, sleeve percentile 70.0
Revenue growth, three-year compoundnot computable5.1%
four annual observations are required; found 1
Free cash flow growth, three-year compoundnot computable8.7%
current FCF must be positive and base FCF must exceed $100,000
Reinvestment ratenot computable11.9%
required facts have no common fiscal period end
Asset growth, three years4.9%[1,7,10-11]4.1%45.14382025-12-31
Net share issuance, one year74.8%[3-4](0.4%)94.93562026-03-19

Gross profitability. Revenue less cost of goods sold, over total assets.

Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.

Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.

Twelve-month failure probability. CHS model; lower is stronger.

Net debt to EBITDA. Lower is stronger.

Net share issuance, one year. Split-adjusted; lower is stronger.

Among 336 Peers [top]

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month(38.3%)2.0%16hotter than 16 of 100 peers
Distance from 52-week high(86.9%)(26.8%)4closer to its high than 4 of 100 peers
EBIT to enterprise value(48.3%)4.4%4pricier than 96 of 100 peers
Free cash flow yield(36.9%)4.1%5pricier than 95 of 100 peers
Book value to price3.030.3498pricier than 2 of 100 peers
Sales to price0.000.700pricier than 100 of 100 peers
Composite equity issuance, five years147.5%(8.8%)95more equity-funded than 95 of 100 peers
Relative strength against the sector, log excess return(0.63)(0.13)16ahead of 16 of 100 peers

Inputs: market equity $58.4M; EBIT -$11.2M; free cash flow -$21.6M; book equity $177.0M; sales $0; debt $3.0M; cash $38.2M[12].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: None of 9, period end 2025-12-31
Return on assets above zero(18.7%)✗ fail[5,7]
Operating cash flow above zero-$9.9M✗ fail[6]
Return on assets improved(10.2 pts)✗ fail[5,7,10,13]
Operating cash flow exceeds net income$17.4M✓ pass[5-6]
Long-term leverage felln/a[1,7,10]
Current ratio improved379.2 pts✓ pass[8-9,14-15]
No new shares issued74.8%✗ fail[3-4]
Gross margin improvedn/a
Asset turnover improvedn/a[7,10]
Cash, filings, liquidity
Cash and equivalents$38.2M[16]
Operating cash flow, four quarters-$11.8M[6,16-20]
Months of runway38.9
Late filings, two years0
NT 10-K or NT 10-Q
Days since last periodic filing60
10-Q received Aug 10, 2026
Median daily dollar volume$377,089
63 sessions
Days since newest grade input204

Downloads [top]

Sources [top]

Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$194.5M2025-12-312026-03-1910-Kfiling · viewer · series
2revenueus-gaap:Revenues$02019-12-312020-02-1410-Kfiling · viewer · series
3shares outstandingdei:EntityCommonStockSharesOutstanding124,702,9522026-03-192026-03-1910-Kfiling · viewer · series
4shares outstandingdei:EntityCommonStockSharesOutstanding71,339,5082025-03-202025-03-2010-Kfiling · viewer · series
5net incomeus-gaap:NetIncomeLoss-$27.3M2025-12-312026-03-1910-Kfiling · viewer · series
6operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$9.9M2025-12-312026-03-1910-Kfiling · viewer · series
7assetsus-gaap:Assets$146.4M2024-12-312026-03-1910-Kfiling · viewer · series
8current assetsus-gaap:AssetsCurrent$48.9M2025-12-312026-03-1910-Kfiling · viewer · series
9current liabilitiesus-gaap:LiabilitiesCurrent$11.6M2025-12-312026-03-1910-Kfiling · viewer · series
10assetsus-gaap:Assets$149.8M2023-12-312025-03-2010-Kfiling · viewer · series
11assetsus-gaap:Assets$168.4M2022-12-312024-03-1910-Kfiling · viewer · series
12shares outstandingdei:EntityCommonStockSharesOutstanding128,564,8332026-08-102026-08-1010-Qfiling · viewer · series
13net incomeus-gaap:NetIncomeLoss-$12.7M2024-12-312026-03-1910-Kfiling · viewer · series
14current assetsus-gaap:AssetsCurrent$4.9M2024-12-312026-03-1910-Kfiling · viewer · series
15current liabilitiesus-gaap:LiabilitiesCurrent$11.8M2024-12-312026-03-1910-Kfiling · viewer · series
16cashus-gaap:CashAndCashEquivalentsAtCarryingValue$38.2M2026-06-302026-08-1010-Qfiling · viewer · series
17operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$6.5M2026-06-302026-08-1010-Qfiling · viewer · series
18operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$4.0M2026-03-312026-05-1210-Qfiling · viewer · series
19operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$7.9M2025-09-302025-11-1210-Qfiling · viewer · series
20operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$4.7M2025-06-302026-08-1010-Qfiling · viewer · series

Limitations [top]

Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.

Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.

Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.

Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.

Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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Updated Oct 9, 2026