# The Elmet Group Co. (ELMT)

> Source: Nexqual · https://nexqual.com/ELMT · data as of 2026-11-10 16:41 UTC · cite as "Nexqual, The Elmet Group Co. (ELMT), nexqual.com/ELMT" · informational, not investment advice.

**Price:** USD 20.17 (-8.28% today) · US market open, as of November 10, 2026 at 16:41 UTC; quotes may be delayed. Prev close 21.99 · day 19.51–22.24 · 52w 12.49–25.46 · market cap $614M · NCM

## Key facts
- Valuation: P/E 122.8x.
- Analysts: Buy (mean 1.75 on a 1–5 scale) (4 analysts), mean target USD 27.5 (range 26–30).
- Total return with dividends: 1Y +13.3% vs S&P 500 +10.9%; 5Y +19.4% vs S&P 500 +71.1%.
- Next earnings: 2026-11-10, EPS estimate USD 0.14, revenue estimate $67.7M. All companies reporting that day: https://nexqual.com/earnings/2026-11-10
- Dividend: ELMT paid no cash dividend in the last five years.
- Short interest: 27.84% of float (as of 2026-10-15), 2.5 days to cover.

## Valuation (price ÷ last four quarters, through Oct 2, 2026)
P/E 122.8x · P/S 2.4x · P/B 2.2x · FCF yield -12.05% · Earnings yield 0.81%

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 4 analysts; mean target USD 27.5 (low 26, high 30).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | Cantor Fitzgerald | Target raised | Overweight | $20 → $30 |
| 2026-10-08 | Needham | Target raised | Buy | $25 → $28 |
| 2026-10-06 | Canaccord Genuity | Target raised | Buy | $21 → $26 |
| 2026-09-15 | Roth Capital | Target raised | Buy | $21 → $26 |
| 2026-09-15 | Needham | Target raised | Buy | $21 → $25 |
| 2026-08-17 | Canaccord Genuity | Target raised | Buy | $20 → $21 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-04-23) | 5Y (from 2026-04-20) |
|---|---|---|
| Total return | +13.3% | +19.4% |
| S&P 500 (SPY) | +10.9% | +71.1% |
| Per year | — | — |
| Volatility (annualized) | 101.6% | 86.3% |
| Max drawdown | -42.3% (Jun 2026→Jul 2026) | -32.0% (Jun 2026→Jul 2026) |

## Dividends
ELMT paid no cash dividend in the last five years.

## Short interest
1,862,653 shares sold short, 27.84% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 1,657,457 shares (+12.4%). Days to cover: 2.5 (short shares ÷ average daily volume).

## Peers (Aerospace & Defense)
KTOS (Kratos Defense & Security Solut) USD 36.63 -2.81% · LOAR (Loar Holdings Inc.) USD 77.33 -1.58% · CAE (CAE Inc) USD 27.56 +0.11% · SARO (StandardAero, Inc.) USD 28.16 -2.80% · DRS (Leonardo DRS, Inc.) USD 36.59 +0.49% · MOG-A (Moog Inc.) USD 340.37 -0.13%

## More
Full page: https://nexqual.com/ELMT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-10-02)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| CMC | $71.5M | 89.9% | +64.7% | $17.6M | 24.6% |
| EMP | $8.0M | 10.1% | +4.4% | -$570,000 | -7.1% |
| Corporate costs (not allocated) | — | — | — | -$5.0M | — |
| Total revenue | $79.6M | 100% | — | $12.0M | 15.1% |

## Revenue by region (quarter ended 2026-10-02)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $78.9M | 99.2% | +56.6% |
| Europe | $634,000 | 0.8% | -10.8% |
| Total revenue | $79.6M | 100% | — |

## Customer concentration

In the quarter ended Oct 2, 2026, 2 direct customers each accounted for at least 10% of ELMT's revenue (11%, 11%; 22% combined). The company does not name these customers in the filing. (10-Q, filed 2026-11-09)

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.14 | $0.13 | +10.5% | $67.7M | 2 |
| Next quarter (ends 2027-03-31) | $0.11 | $0.10 | +10.0% | $64.9M | 2 |
| Current fiscal year (ends 2026-12-31) | $0.67 | $0.42 | +57.4% | $254.8M | 2 |
| Next fiscal year (ends 2027-12-31) | $0.59 | $0.54 | +9.8% | $305.0M | 2 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Sep 30, 2026 | $0.35 | $0.14 | Beat +150.0% | — |
| — | Quarter ended Jun 30, 2026 | $0.18 | $0.06 | Beat +200.0% | — |
| — | Quarter ended Mar 31, 2026 | $0.23 | −$0.01 | Beat +$0.24 | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-11-09 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/2101698/000162828026072288/0001628280-26-072288-index.htm |
| 2026-11-09 | 10-Q | Quarterly report · period ended Oct 2, 2026 | https://www.sec.gov/Archives/edgar/data/2101698/000162828026072286/0001628280-26-072286-index.htm |
| 2026-10-21 | 8-K | Entered a material agreement; Shareholder vote results — “As previously disclosed in The Elmet Group Co.'s (the "Company") Current Report on Form 8-K filed with the SEC on September 14, 2026, the Company entered into a binding letter agreement with Blue Moon Metals Inc., a company existing under the laws of British Columbia, Canada ("Blue Moon"), Blue Moon (Springer) Inc., a company organized under the laws of the State of Delaware and an affiliate of Blue Moon ("BM US"), and EQ Resources Limited, a company organized under the laws of Victoria, Australia (together with…” | https://www.sec.gov/Archives/edgar/data/2101698/000121390026111199/0001213900-26-111199-index.htm |
| 2026-10-02 | 8-K | Regulation FD disclosure; Other material event — “General Counsel Retirement On October 1, 2026, Christian T. Chandler, Executive Vice President and General Counsel of the Company, provided the Company with notice of his decision to retire from his position effective December 31, 2026. Mr. Chandler has served as the Company's General Counsel since its founding. The Company thanks Mr. Chandler for his dedicated service. Mr. Chandler will continue to serve as an advisor to the Company following his retirement in order to assist the Company on various legal,…” | https://www.sec.gov/Archives/edgar/data/2101698/000121390026106420/0001213900-26-106420-index.htm |
| 2026-09-30 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/2101698/000121390026104913/0001213900-26-104913-index.htm |
| 2026-09-24 | 8-K | Entered a material agreement; Regulation FD disclosure — “Share Purchase Agreement On September 23, 2026, The Elmet Group Co., a Delaware corporation (the "Company," "we," "us" or "our") entered into a share purchase agreement (the "Purchase Agreement") with Masan Horizon Company Limited ("the Seller") pursuant to which the Seller agreed to issue and sell, and the Company agreed to purchase, a 4.99% interest in the total issued and outstanding voting ordinary shares of Masan High-Tech Materials Corporation, a public company incorporated in Vietnam and controlled…” | https://www.sec.gov/Archives/edgar/data/2101698/000121390026102840/0001213900-26-102840-index.htm |
| 2026-09-22 | 8-K | Regulation FD disclosure; Other material event — “Tungsten West Offtake Agreement On September 22, 2026, the Company and its wholly owned subsidiary, Elmet Technologies LLC, entered into a Tungsten Concentrate Offtake Agreement (the "Offtake Agreement") with Drakelands Restoration Limited, a private limited company incorporated in England and Wales ("Drakelands"), and Tungsten West PLC, a public limited company incorporated in England and Wales, relating to a strategic offtake arrangement of tungsten concentrate. Under the Offtake Agreement, the Company will…” | https://www.sec.gov/Archives/edgar/data/2101698/000121390026102242/0001213900-26-102242-index.htm |
| 2026-09-22 | 8-K | Entered a material agreement; Unregistered sale of shares — “Pursuant to the previously disclosed binding letter agreement (the "Letter Agreement"), dated September 11, 2026, by and between The Elmet Group Co., a Delaware corporation (the "Company," "we," "us" or "our") and Blue Moon Metals Inc. ("Blue Moon"), on September 21, 2026, the Company entered into a warrant purchase agreement (the "Purchase Agreement") with Blue Moon pursuant to which the Company agreed to issue and sell to Blue Moon an unregistered warrant (the "Warrant") to purchase up to 1,166,970 shares (the…” | https://www.sec.gov/Archives/edgar/data/2101698/000121390026101918/0001213900-26-101918-index.htm |
| 2026-09-16 | DEF 14A | Proxy statement (pay, board, votes) · period ended Oct 19, 2026 | https://www.sec.gov/Archives/edgar/data/2101698/000121390026100530/0001213900-26-100530-index.htm |
| 2026-09-14 | 8-K | Entered a material agreement; Unregistered sale of shares; Change to shareholder rights; Director or executive officer change, or pay arrangement; Bylaws or fiscal-year change; Regulation FD disclosure — “Department of War Transaction On September 11, 2026, The Elmet Group Co., a Delaware corporation (the "Company," "we," "us" or "our") entered into a definitive investment agreement (the "Investment Agreement") with the United States Department of War ("Department of War" or "DoW") providing for an equity investment in the Company and related investor rights. The Company expects to receive an approximate package of investments and commitments from DoW of $450 million to expand and modernize the Company's tungsten…” | https://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/0001213900-26-099734-index.htm |
| 2026-09-08 | 8-K | Entered a material agreement; Regulation FD disclosure — “Asset Purchase Agreement On September 3, 2026, The Elmet Group Co. ("we," "us," "our," or the "Company"), through its wholly owned subsidiary, Elmet Technologies LLC ("Elmet Tech"), entered into an Asset Purchase Agreement (the "Purchase Agreement") with OSRAM GmbH, a German limited liability company (Gesellschaft mit beschr nkter Haftung or GmbH) duly organized and existing under the laws of the Federal Republic of Germany (the "Seller"), pursuant to which Elmet Tech agreed to purchase substantially all of the…” | https://www.sec.gov/Archives/edgar/data/2101698/000121390026097862/0001213900-26-097862-index.htm |
| 2026-08-13 | Schedule 13G/A | Needham Investment Management L.L.C., Needham Asset Management, LLC: 8.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/2101698/000091957426005152/0000919574-26-005152-index.htm |
| 2026-08-13 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/2101698/000121390026088714/0001213900-26-088714-index.htm |
| 2026-08-13 | 10-Q | Quarterly report · period ended Jul 3, 2026 | https://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/0001628280-26-056460-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.