Aris Mining Corporation (ARIS) vs Seabridge Gold Inc. (SA)

Aris Mining Corporation and Seabridge Gold Inc. are both Gold companies. Aris Mining Corporation is the larger, with a market value of $3.2B against $2.8B — 1.1× the size. Seabridge Gold Inc. has negative trailing earnings, so its P/E is not meaningful; Aris Mining Corporation trades at 11.1×. Aris Mining Corporation has the higher net margin (22.4% vs 0.00%) and the higher return on invested capital (19.3% vs −0.91%). Across the 13 metrics below, Aris Mining Corporation leads on 11 and Seabridge Gold Inc. on 2.

Valuation

Metric ARIS SA Gold median
P/E 11.06 n/m 17.98
P/S 2.50 n/m 3.83
P/B 1.80 3.14 2.42
Price to free cash flow 18.06 n/m 15.50
EV/EBITDA 5.19 n/m 6.72
EV/Sales 2.56 n/m 3.73
Earnings yield 9.04% (1.88%) 1.19%
Free cash flow yield 5.54% (4.26%) 0.81%

Profitability

Metric ARIS SA Gold median
Gross margin 59.51% — 49.13%
Operating margin 44.74% 0.00% 21.90%
Net margin 22.43% 0.00% 9.65%
Free cash flow margin 13.84% 0.00% 0.00%
Return on equity 19.07% (6.40%) 0.12%
Return on assets 11.34% (4.15%) 0.10%
Return on invested capital 19.25% (0.91%) 0.26%

Growth

Metric ARIS SA Gold median
Revenue growth (TTM) 96.26% — 68.15%
EPS growth (last fiscal year) 192.86% (46.15%) 60.15%
Revenue growth, 5-year CAGR 17.58% — 15.33%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ARIS SA Gold median
Debt to equity 0.29 0.46 0.03
Current ratio 1.91 6.71 3.34
Net debt to EBITDA 0.32 (21.47) (0.15)

Dividend

Metric ARIS SA Gold median
Dividend yield — — 0.79%
Payout ratio — — 0.15

Size

Metric ARIS SA Gold median
Market cap 3.15b 2.75b 1.12b

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