Collective Mining Ltd. (CNL) vs DRDGOLD Limited (DRD)

Collective Mining Ltd. and DRDGOLD Limited are both Gold companies. DRDGOLD Limited is the larger, with a market value of $2.2B against $1.1B — 1.9× the size. Collective Mining Ltd. has negative trailing earnings, so its P/E is not meaningful; DRDGOLD Limited trades at 155×. DRDGOLD Limited has the higher net margin (22.5% vs 0.00%) and the higher return on invested capital (0.00% vs −152.6%). Across the 11 metrics below, DRDGOLD Limited leads on 10 and Collective Mining Ltd. on 1.

Valuation

Metric CNL DRD Gold median
P/E n/m 154.65 23.34
P/S n/m 3.49 5.02
P/B 10.34 2.89 3.53
Price to free cash flow n/m 8.60 16.73
EV/EBITDA n/m 11.01 8.34
EV/Sales n/m 3.23 4.92
Earnings yield (4.95%) 0.65% 1.44%
Free cash flow yield (5.12%) 11.63% 0.75%

Profitability

Metric CNL DRD Gold median
Gross margin — 26.89% 50.00%
Operating margin 0.00% 0.00% 26.32%
Net margin 0.00% 22.53% 12.30%
Free cash flow margin 0.00% 0.00% 0.00%
Return on equity (60.81%) 0.00% 6.36%
Return on assets (44.61%) 0.00% 0.00%
Return on invested capital (152.61%) 0.00% 0.52%

Growth

Metric CNL DRD Gold median
Revenue growth (TTM) — (1.51%) 68.15%
EPS growth (last fiscal year) (75.76%) 107.69% —
Revenue growth, 5-year CAGR — 13.97% 16.12%
Net income growth, 5-year CAGR — 21.83% 0.00%

Health

Metric CNL DRD Gold median
Debt to equity 0.01 0.00 0.10
Current ratio 3.99 3.62 3.08
Net debt to EBITDA 2.51 (0.44) 0.00

Dividend

Metric CNL DRD Gold median
Dividend yield — 4.19% 1.49%
Payout ratio — 0.46 0.00

Size

Metric CNL DRD Gold median
Market cap 1.13b 2.19b 1.96b

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