Almonty Industries Inc. (ALM) vs MP Materials Corp. (MP)

Almonty Industries Inc. and MP Materials Corp. are both Other Industrial Metals & Mining companies. MP Materials Corp. is the larger, with a market value of $7.4B against $2.9B — 2.5× the size. MP Materials Corp. has negative trailing earnings, so its P/E is not meaningful; Almonty Industries Inc. trades at 50.2×. Almonty Industries Inc. grew revenue faster over the last twelve months: 208.3% against 71.9%. Almonty Industries Inc. has the higher net margin (125.2% vs −14.6%) and the higher return on invested capital (2.10% vs −4.28%). Across the 17 metrics below, Almonty Industries Inc. leads on 12 and MP Materials Corp. on 5.

Valuation

Metric ALM MP Other Industrial Metals & Mining median
P/E 50.15 n/m 26.65
P/S 45.14 17.22 6.78
P/B 7.04 3.66 1.18
Price to free cash flow n/m n/m 15.65
EV/EBITDA 612.03 n/m 7.09
EV/Sales 40.33 16.14 4.64
Earnings yield 1.99% (0.85%) (9.58%)
Free cash flow yield (1.34%) (7.04%) (8.41%)

Profitability

Metric ALM MP Other Industrial Metals & Mining median
Gross margin 51.24% 42.33% 14.52%
Operating margin 5.37% (30.48%) 0.00%
Net margin 125.21% (14.56%) 0.00%
Free cash flow margin (60.47%) (121.22%) 0.00%
Return on equity 38.31% (4.08%) (7.90%)
Return on assets 10.66% (2.00%) (11.61%)
Return on invested capital 2.10% (4.28%) (3.47%)

Growth

Metric ALM MP Other Industrial Metals & Mining median
Revenue growth (TTM) 208.31% 71.92% 27.25%
EPS growth (last fiscal year) (1,020.00%) (29.84%) (15.57%)
Revenue growth, 5-year CAGR — 15.45% 5.26%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric ALM MP Other Industrial Metals & Mining median
Debt to equity 1.47 0.39 0.04
Current ratio 9.58 9.51 2.48
Net debt to EBITDA 3.77 13.83 1.07

Dividend

Metric ALM MP Other Industrial Metals & Mining median
Dividend yield — — 1.46%
Payout ratio — — —

Size

Metric ALM MP Other Industrial Metals & Mining median
Market cap 2.91b 7.41b 454.02m

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