Capital Limited reports a record Q1 2026 revenue of $101.7 million, up 41.6% YoY, driven by strong performance across drilling, mining, and MSALABS segments. Key highlights include a 2,900% surge in mining revenue, new contract wins, and increased laboratory utilization. Despite geopolitical tensions impacting logistics and investments, the company reaffirms its 2026 revenue guidance of $410–$440 million, supported by ramping contracts, full mining run rates, and new laboratory commissioning.
| Metric | Q1 2026 | Q1 2025 | YoY Change | Q4 2025 | QoQ Change | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Revenue (USD million) | 101.7 | 71.8 | 41.6% | 92.7 | 9.7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Drilling and associated revenue | 62.8 | 57.7 | 8.8% | 60.2 | 4.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mining revenue | 18.0 | 0.6 | 2,900.0% | 10.9 | 65.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MSALABS revenue | 20.9 | 13.5 | 54.8% | 21.6 | (3.2%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Closing fleet size | 138 | 135 | 2.2% | 137 | 0.7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fleet utilisation (%) | 70% | 73% | (4.1%) | 74% | (5.4%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average utilised rigs | 96 | 98 | (2.0%) | 101 | (5.0%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ARPOR (USD) | 201,000 |
| Metric | Q1 2026 | Q1 2025 | YoY Change | Q4 2025 | QoQ Change | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Revenue (USD million) | 101.7 | 71.8 | 41.6% | 92.7 | 9.7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Drilling and associated revenue | 62.8 | 57.7 | 8.8% | 60.2 | 4.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mining revenue | 18.0 | 0.6 | 2,900.0% | 10.9 | 65.1% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MSALABS revenue | 20.9 | 13.5 | 54.8% | 21.6 | (3.2%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Closing fleet size | 138 | 135 | 2.2% | 137 | 0.7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fleet utilisation (%) | 70% | 73% | (4.1%) | 74% | (5.4%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average utilised rigs | 96 | 98 | (2.0%) | 101 | (5.0%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ARPOR (USD) | 201,000 |
| Period | Revenue | Net Income | FCF | Net Debt |
|---|---|---|---|---|
| Q4 2025 | 187.5M | 54.8M | 8.8M | 67.6M |
| Q2 2025 | 159.2M | 14.8M | 31.3M | 91.4M |
| Q1 2025 | 79.6M | 7.4M | 15.6M | 91.4M |
| Q4 2024 | 178.6M | 8.1M | 6.4M | 108.4M |
| Q3 2024 | 89.3M | 4.1M | 3.2M | 108.4M |
| Q2 2024 | 169.4M | 9.2M | 18.8M | 117.6M |
Annual Financial Power
Last 5 Years
| Period | Revenue | Net Income | EBITDA | FCF |
|---|---|---|---|---|
| FY 2025 | 353.0M | 70.8M | 92.5M | 42.8M |
| FY 2024 | 348.0M | 17.3M | 94.2M | 21.1M |
| FY 2023 | 318.4M | 36.7M | 101.4M | 14.2M |
| FY 2022 | 290.3M | 21.0M | 86.6M | 7.4M |
| FY 2021 | 226.8M | 70.2M | 71.2M | -20.5M |
Structure DNA
Market Structure DNA
Yield Compounder profile with trend mixed
Price is 67.4% through the 52-week range, -4.7% vs 50DMA and +11.3% vs 200DMA. 79.5% of the register is locked by institutions and insiders, leaving 20.5% free float. Capital rhythm reads semi-annual with forward yield near 1.5% and payout around 24.1%.
Trend mixed
Institutional gravity
Reliable income rhythm
As Of 2026-04-19
Yield Compounder
Structure Score
73.4 / 100
Yield Compounder
Trend Stack
-4.7% / +11.3%
vs 50DMA / 200DMA
52W Position
67.4%
auction position inside the yearly range
Ownership Lock
79.5%
61.4% institutions | 18.1% insiders
Pressure Pocket
20.5% free float
Vendor short-float fields were not supplied
Capital Rhythm
Semi-Annual
Yield 1.5% | payout 24.1%
Trend Runway
Implied spot is 127.50 with the stock -4.7% vs 50DMA and +11.3% vs 200DMA. The tape is sitting 67.4% through the 52-week range, which frames the regime as trend mixed.
Ownership Register
Institutions hold about 61.4% and insiders about 18.1%, locking roughly 79.5% of the register and leaving 20.5% in free float. That reads as institutional gravity.
Pressure Pocket
The API did not return a usable short-float field for this ticker, so the pressure score leans more on float lock and crowding than a full short ledger.
Capital Rhythm
Dividend cadence reads semi-annual with 2 event(s) in the last full year, a five-year average of 2.2, and stability score 80.0/100. Forward yield sits near 1.5% while payout is around 24.1%.
Structure Score
One-glance gauge for the current market-structure regime.
Pillar Radar
Trend, ownership, pressure, and capital rhythm mapped on one wheel.
Position And Float Balance
Shows whether the stock is extended, tightly held, or carrying capital-return support.
Dividend Cadence Tape
Historical dividend-event counts help reveal how dependable the income rhythm has been.
Dividend Cadence Ledger
Semi-Annual
| Year | Dividend Count | Context |
|---|---|---|
| 2026 | 1 | Current partial year |
| 2025 | 2 | Full year |
| 2024 | 2 | Full year |
| 2023 | 2 | Full year |
| 2022 | 3 | Full year |
| 2021 | 2 | Full year |
| 2020 | 2 | Full year |
| 2019 | 2 | Full year |
Structure Facts
Live Snapshot
Implied Spot
127.50
derived from market cap / shares
52W High
157.78
upper auction edge
52W Low
64.98
lower auction edge
Beta
0.78
volatility character
Shares Out
225.7M
fully diluted count
Shares Float
184.5M
tradable register
Shares Short
0
borrowed stock
Short Ratio
0.0x
days-to-cover style read
Ex-Dividend
2026-04-16
-3 day(s) to ex-date
Dividend Pay
-
payment date not supplied
Last Split
-
split date not supplied
Capital Radar
Capital Regime
—
Building signal blend...
Smart Money Tilt
—
Public vs institutions
Target Conviction
—
Broker coverage pulse
Insider Pressure
—
Director + TR1 flow
Last Held Position
-
Public Hands
-
Institutions
45.1649
Institutions As Of
2025-12-18
Avg Broker Target
-
Upside Vs Price
-
Purchase Director Dealing
2
Sale Director Dealing
0
Purchase TR1
3
Sale TR1
2
Broker Coverage Rows
0
Institution Holders Tracked
5
Public Vs Institutional Ownership (3D)
Top Institution Holders (Latest Per Holder)
Director Dealing Sentiment Flow
Broker Target Bias
Signal: Pending
Capital Momentum Matrix
Broker Targets Vs Price
Aggregated Institution Weight By Holder
Short Data - Last 30 Days
Nexus Pulse Engine
Overall Buy/Sell/Hold
Signal: Pending
Technical Composite
Signal: Pending
Financial Composite
Signal: Pending
Fundamental Composite
Signal: Pending
Short Pressure
Signal: Pending
Momentum Bias
Signal: Pending
Volatility Lab
ATR(14)
Realized Vol (20d)
Volume Spike Z
AI Charts
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Standby Tape
Data 2026-04-23
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RSI Gauge
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