# Gulf Resources, Inc. (GURE)

> Source: Nexqual · https://nexqual.com/GURE · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Gulf Resources, Inc. (GURE), nexqual.com/GURE" · informational, not investment advice.

**Price:** USD 2.86 (-5.45% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 3.03 · day 2.75–2.99 · 52w 2.04–11.83 · market cap $5.2M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $30.7M, net income -$41.3M (-134.4% margin) (SEC filings).
- Total return with dividends: 1Y -46.0% vs S&P 500 +13.4%; 5Y -94.5% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $55.0M | $66.1M | $30.0M | $7.7M | $25.4M | $30.7M |
| Operating income | $5.2M | $16.5M | -$11.9M | -$22.2M | -$8.6M | -$6.0M |
| Net income | -$925K | $10.1M | -$61.8M | -$59.9M | -$43.9M | -$41.3M |
| EPS (diluted) | -$0.90 | — | -$58.16 | -$54.88 | -$32.95 | — |
| Free cash flow | -$6.8M | $13.6M | — | -$28.2M | -$1.0M | — |
| Operating margin | 9.5% | 24.9% | -39.6% | -290.4% | -33.7% | -19.6% |
| Net margin | -1.7% | 15.2% | -205.7% | -781.9% | -172.8% | -134.4% |
| Revenue growth | +95.1% | +20.1% | -54.5% | -74.5% | +231.8% | — |
| Cash + short-term investments | $95.8M | $108M | $72.2M | $10.1M | $4K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.2x · P/B 0.1x · Earnings yield -796.27%

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -46.0% | -94.5% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -46.1% | -44.0% |
| Volatility (annualized) | 150.3% | 89.9% |
| Max drawdown | -66.7% (Dec 2025→Oct 2026) | -95.8% (Nov 2021→Oct 2026) |

## Peers (Chemicals)
VHI (Valhi, Inc.) USD 14.32 -0.07% · ASIX (AdvanSix Inc.) USD 15.71 +0.19% · RYAM (Rayonier Advanced Materials Inc) USD 6.7 -1.90% · TROX (Tronox Holdings plc) USD 3.46 -0.57% · BAK (Braskem SA) USD 1.7 +6.25% · LXU (LSB Industries, Inc.) USD 9.89 +1.33%

## More
Full page: https://nexqual.com/GURE · 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 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Bromine | $12.2M | 95.0% | +59.5% | $1.4M | 11.5% |
| Crude Salt | $642,704 | 5.0% | -3.7% | -$97,230 | -15.1% |
| Corporate costs (not allocated) | — | — | — | -$19,959 | — |
| Total revenue | $12.9M | 100% | — | $1.3M | 9.7% |

## Customer concentration

Period ended 2026-06-30: 17.8%, 14.5%, 13%, 11.8% of revenue from unnamed direct customers (10-Q, filed 2026-09-30).

## Company outlook (8-K filed 2025-08-13)

- "These assets are expected to enhance both salt and bromine production capacity and may facilitate the reopening of manufacturing facilities #2 and #10, which remain temporarily closed."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |