The Capricorn Metals Ltd (ASX: CMM) share price is in focus today after the company delivered record full-year results, with FY26 sales revenue up 46% to $769.3 million and a fully franked final dividend of 5 cents per share announced.
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What did Capricorn Metals report?
- Sales revenue rose 46% to $769.3 million, with gold sales totalling 123,096 ounces at an average price of $6,241 per ounce.
- Underlying EBITDA was a record $483.6 million, jumping 63% year over year, for an EBITDA margin of 63%.
- Net profit after tax increased 59% to $327.2 million, up from $206.4 million in FY25.
- Net cash position grew by 42% to $504.8 million at year end.
- Gold production at the Karlawinda Gold Project totalled 123,589 ounces at an AISC of $1,629 per ounce.
- Fully franked final dividend of 5 cents per share, bringing total FY26 dividends to 10 cents per share.
What else do investors need to know?
Capricorn Metals finished the year with a strong balance sheet, underpinned by robust operating cash flow of $470.2 million. The company spent $133.4 million on expansion at Karlawinda and preparatory works at Mt Gibson, alongside $74.0 million on exploration across both projects.
The commencement of fully franked dividends reflects Capricorn's move to a tax-paying position, with a one-off final tax payment for FY26 expected in FY27. From FY27, tax payments will transition to a standard estimates-based regime.
What's next for Capricorn Metals?
Looking ahead, Capricorn Metals has provided FY27 production guidance of 137,000 to 147,000 ounces at an AISC of $1,900 to $2,100 per ounce. After the Karlawinda Expansion Project is commissioned this quarter, gold output is forecast to ramp up to around 150,000 ounces per annum.
Development at the Mt Gibson Gold Project is targeted to start in the second quarter of FY27, subject to permitting. Supported by strong cash flows and a healthy cash balance, Capricorn aims to fund growth projects and continue shareholder returns.
Capricorn Metals share price snapshot
The Capricorn Metals share price has been among the best performers on the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of almost 70%.
