Almonty Industries Inc (ALM) is overvalued and Rio Tinto plc ADR (RIO) is undervalued.
Against our estimates of intrinsic value, RIO trades at the wider discount: a margin of safety of +37%, against -600% for ALM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.5% (average of 3 methods) values the shares at $2.05; the price of $14.35 is 600% above that value, and 71% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
Discounting its cash flows at 7.9% (average of 3 methods) values the shares at $153.66; the price of $97.49 is 37% below that value, and 80% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
| Metric | ALM | RIO |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $14.35 | $97.49 |
| Intrinsic value | $2.05 | $153.66 |
| Margin of safety | -600% | +37% |
| Leak Score | 27/100 (3/12) | 100/100 (3/12) |
| Market cap | $4.1B | $122.3B |
| Revenue growth, 5 years | 4.5% | 5.1% |
| Operating margin | 5.3% | 26.7% |
| Net margin | 125.9% | 19.6% |
| Return on equity | 39.6% | 19.5% |
| Debt to equity | 1.48 | 0.35 |
| P/E | 58.5x | 13.2x |
| Forward P/E | 9.7x | 11.8x |
| P/B | 10.6x | 2.4x |
| Dividend yield | — | 5.1% |