Lithium Americas - Public Comps and Valuation Multiples

Lithium Americas Overview

About Lithium Americas

Lithium Americas is a pure-play lithium producer. The firm owns 62% of one resource, Thacker Pass, which is located in northwest Nevada, with automaker General Motors owning the remaining 38%. Thacker Pass is under construction and expected to begin production in 2028. Thacker Pass is one of the largest known lithium resources in the world. The project would be the first clay-based asset to enter production, and we estimate it will be in bottom half of the global cost curve. Management plans to develop Thacker Pass into a fully integrated lithium production site, with downstream refining capabilities on site, and will sell into the lithium chemical market.

Founded

2007

HQ

Employees

Website

lithiumamericas.com

Sectors

Metals & Mining

Financials

Last FY Revenue n/a

LTM EBITDA -$30.2M

EV

$388M

Valuation Multiples

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Lithium Americas Financials

As of August 2025, Lithium Americas reported last 12-month EBITDA of -$30.2M.

In the same period, Lithium Americas achieved -$50.4M in LTM net income.

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Lithium Americas P&L

In the most recent fiscal year, Lithium Americas reported EBITDA of -$41.6M.

Lithium Americas expects next 12-month revenue of XXX and NTM EBITDA of XXX

See Lithium Americas valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	n/a	XXX	n/a	XXX	XXX	XXX
Gross Profit	n/a	XXX	-$46K	XXX	XXX	XXX
Gross Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA	-$30.2M	XXX	-$41.6M	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBIT	-$26.7M	XXX	-$28.3M	XXX	XXX	XXX
EBIT Margin	n/a	XXX	n/a	XXX	XXX	XXX
Net Profit	-$50.4M	XXX	-$42.5M	XXX	XXX	XXX
Net Margin	n/a	XXX	n/a	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Lithium Americas including revenue, profitability, and margin analysis across different time periods. EBITDA for the last twelve months was -$30.2M.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	-$46K	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	-$30.2M	Analyst estimates available to subscribers	-$41.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$26.7M	Analyst estimates available to subscribers	-$28.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$50.4M	Analyst estimates available to subscribers	-$42.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Lithium Americas

This financial data table provides comprehensive performance metrics for Lithium Americas, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

The company achieved -$30.2M in EBITDA over the last twelve months.
Net income over the last twelve months reached -$50.4M.

Fiscal Year Performance

Fiscal year EBITDA was -$41.6M.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Lithium Americas. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Lithium Americas Stock Performance

Lithium Americas has current market cap of $690M, and EV of $388M.

Market Cap Evolution

Lithium Americas Stock Data

As of September 12, 2025, Lithium Americas's stock price is $3.

See Lithium Americas trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$388M	$690M	XXX	XXX	XXX	XXX	$-0.21

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Lithium Americas Valuation Multiples

Lithium Americas's trades at n/a EV/Revenue multiple, and -9.3x EV/EBITDA.

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Lithium Americas Financial Valuation Multiples

As of September 12, 2025, Lithium Americas has market cap of $690M and EV of $388M.

Equity research analysts estimate Lithium Americas's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Lithium Americas has a P/E ratio of -13.7x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$690M	XXX	$690M	XXX	XXX	XXX
EV (current)	$388M	XXX	$388M	XXX	XXX	XXX
EV/Revenue	n/a	XXX	n/a	XXX	XXX	XXX
EV/EBITDA	-12.9x	XXX	-9.3x	XXX	XXX	XXX
EV/EBIT	-14.5x	XXX	-13.7x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	-13.7x	XXX	-16.2x	XXX	XXX	XXX
EV/FCF	-0.6x	XXX	-2.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Lithium Americas Margins & Growth Rates

Lithium Americas's revenue per employee in the last FY averaged n/a, while opex per employee averaged $0.4M for the same period.

Lithium Americas's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Lithium Americas's rule of X is n/a (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Lithium Americas Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Growth	2%	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	n/a	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	n/a	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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