Comstock Inc. Common Stock (LODE)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with business quality and owner earnings. Comstock is a 45-employee company trying to commercialize clean-energy and resource-conversion technologies across Fuels, Metals, Mining, and Strategic Investments. The filed numbers are not those of a durable moat. In fiscal 2025, the year ended 2025-12-31, revenue was $1.6 million and net loss was $43.1 million, or $1.17 per diluted share. In fiscal 2024, revenue was $3.0 million and net loss was $53.3 million. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, showed revenue of just $272,824 and a net loss of $25.5 million, or $0.34 per diluted share. That is a negative 9,335.10% margin. Free cash flow is negative $46.7 million trailing twelve months, a -29.0% FCF yield on the $161.1 million market cap. FairStock's Piotroski score is 1/9 and Altman Z-score is -1.11, which signal financial distress. FairStock's ROE is -52.55% and ROCE is -16.37%. The balance sheet has low leverage—D/E 0.14—but low debt does not offset cash burn. FairStock labels it a TURNAROUND because it lost money in the latest year after earlier profits; fiscal 2023 did show $9.2 million net income. Valuation is hard: at the $2.12 close on 2026-10-13, FairStock's P/B is 1.17, but its P/E is -2.06. With revenue near zero and huge losses, I see no margin of safety in earnings. This is a speculative asset/technology bet, not a Graham-style bargain unless commercialization and cash flow inflect convincingly.

In plain English: Comstock is a small company trying to turn waste and natural resources into clean fuels and metals. The business looks weak right now: sales are tiny and it is losing large amounts of money. At the recent $2.12 close, the price does not look cheap compared with those numbers.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer