DRDGOLD Limited (DRD) vs Elemental Royalty Corp (ELE)

DRDGOLD Limited and Elemental Royalty Corp are both Gold companies. DRDGOLD Limited is the larger, with a market value of $2.1B against $1.2B — 1.8× the size. Elemental Royalty Corp has negative trailing earnings, so its P/E is not meaningful; DRDGOLD Limited trades at 151×. Elemental Royalty Corp grew revenue faster over the last twelve months: 136.9% against −1.51%. DRDGOLD Limited has the higher net margin (22.5% vs 4.01%) and the lower return on invested capital (0.00% vs 1.11%). Across the 18 metrics below, Elemental Royalty Corp leads on 11 and DRDGOLD Limited on 7.

Valuation

Metric DRD ELE Gold median
P/E 151.04 n/m 17.98
P/S 1.70 14.06 3.83
P/B 1.40 1.27 2.42
Price to free cash flow 4.18 n/m 15.50
EV/EBITDA 4.90 24.85 6.72
EV/Sales 1.44 12.82 3.73
Earnings yield 0.66% (0.05%) 1.19%
Free cash flow yield 23.94% (3.09%) 0.81%

Profitability

Metric DRD ELE Gold median
Gross margin 26.89% 66.08% 49.13%
Operating margin 0.00% 17.48% 21.90%
Net margin 22.53% 4.01% 9.65%
Free cash flow margin 0.00% (43.42%) 0.00%
Return on equity 0.00% 0.58% 0.12%
Return on assets 0.00% 0.50% 0.10%
Return on invested capital 0.00% 1.11% 0.26%

Growth

Metric DRD ELE Gold median
Revenue growth (TTM) (1.51%) 136.91% 68.15%
EPS growth (last fiscal year) 107.69% 437.08% 60.15%
Revenue growth, 5-year CAGR 13.97% — 15.33%
Net income growth, 5-year CAGR 21.83% — 0.00%

Health

Metric DRD ELE Gold median
Debt to equity 0.00 0.00 0.03
Current ratio 3.62 5.48 3.34
Net debt to EBITDA (0.44) (3.20) (0.15)

Dividend

Metric DRD ELE Gold median
Dividend yield 4.19% — 0.79%
Payout ratio — — 0.15

Size

Metric DRD ELE Gold median
Market cap 2.13b 1.19b 1.12b

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