Caledonia Mining Corporation PLC (CMCL) vs TRX Gold Corporation (TRX)

Caledonia Mining Corporation PLC and TRX Gold Corporation are both Gold companies. Caledonia Mining Corporation PLC and TRX Gold Corporation are of similar size ($461.5M and $423.5M). TRX Gold Corporation has negative trailing earnings, so its P/E is not meaningful; Caledonia Mining Corporation PLC trades at 6.0×. TRX Gold Corporation grew revenue faster over the last twelve months: 142.1% against 39.1%. Caledonia Mining Corporation PLC has the higher net margin (27.0% vs −16.7%) and the lower return on invested capital (32.3% vs 35.3%). Across the 20 metrics below, Caledonia Mining Corporation PLC leads on 15 and TRX Gold Corporation on 5.

Valuation

Metric CMCL TRX Gold median
P/E 5.97 n/m 23.34
P/S 1.50 3.70 5.02
P/B 1.29 3.53 3.53
Price to free cash flow 8.07 134.06 16.73
EV/EBITDA 2.85 6.52 8.34
EV/Sales 1.28 3.50 4.92
Earnings yield 16.74% (4.65%) 1.44%
Free cash flow yield 12.39% 0.75% 0.75%

Profitability

Metric CMCL TRX Gold median
Gross margin 50.86% 58.24% 50.00%
Operating margin 48.95% 47.99% 26.32%
Net margin 26.97% (16.67%) 12.30%
Free cash flow margin 18.53% 2.76% 0.00%
Return on equity 25.72% (20.26%) 6.36%
Return on assets 15.82% (13.45%) 0.00%
Return on invested capital 32.26% 35.29% 0.52%

Growth

Metric CMCL TRX Gold median
Revenue growth (TTM) 39.08% 142.07% 68.15%
EPS growth (last fiscal year) 210.99% 0.00% —
Revenue growth, 5-year CAGR 21.76% — 16.12%
Net income growth, 5-year CAGR 21.86% 0.00% 0.00%

Health

Metric CMCL TRX Gold median
Debt to equity 0.36 0.03 0.10
Current ratio 5.73 2.20 3.08
Net debt to EBITDA (0.14) (0.31) 0.00

Dividend

Metric CMCL TRX Gold median
Dividend yield 5.17% — 1.49%
Payout ratio 0.24 0.00 0.00

Size

Metric CMCL TRX Gold median
Market cap 461.53m 423.53m 1.96b

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