Collective Mining Ltd. (CNL) vs Gold Royalty Corp. (GROY)

Collective Mining Ltd. and Gold Royalty Corp. are both Gold companies. Collective Mining Ltd. is the larger, with a market value of $1.1B against $736.7M — 1.5× the size. Collective Mining Ltd. has negative trailing earnings, so its P/E is not meaningful; Gold Royalty Corp. trades at 790×. Gold Royalty Corp. has the higher net margin (6.65% vs 0.00%) and the higher return on invested capital (0.52% vs −152.6%). Across the 13 metrics below, Gold Royalty Corp. leads on 12 and Collective Mining Ltd. on 1.

Valuation

Metric CNL GROY Gold median
P/E n/m 790.00 23.34
P/S n/m 32.33 5.02
P/B 10.34 1.01 3.53
Price to free cash flow n/m n/m 16.73
EV/EBITDA n/m 63.25 8.34
EV/Sales n/m 31.71 4.92
Earnings yield (4.95%) 0.13% 1.44%
Free cash flow yield (5.12%) (8.14%) 0.75%

Profitability

Metric CNL GROY Gold median
Gross margin — 71.17% 50.00%
Operating margin 0.00% 26.32% 26.32%
Net margin 0.00% 6.65% 12.30%
Free cash flow margin 0.00% 47.92% 0.00%
Return on equity (60.81%) 0.23% 6.36%
Return on assets (44.61%) 0.19% 0.00%
Return on invested capital (152.61%) 0.52% 0.52%

Growth

Metric CNL GROY Gold median
Revenue growth (TTM) — 82.28% 68.15%
EPS growth (last fiscal year) (75.76%) 0.00% —
Revenue growth, 5-year CAGR — 141.00% 16.12%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric CNL GROY Gold median
Debt to equity 0.01 0.00 0.10
Current ratio 3.99 4.80 3.08
Net debt to EBITDA 2.51 (3.24) 0.00

Dividend

Metric CNL GROY Gold median
Dividend yield — 1.49% 1.49%
Payout ratio — 0.00 0.00

Size

Metric CNL GROY Gold median
Market cap 1.13b 736.74m 1.96b

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