DRDGOLD Limited (DRD) vs Seabridge Gold Inc. (SA)

DRDGOLD Limited and Seabridge Gold Inc. are both Gold companies. Seabridge Gold Inc. is the larger, with a market value of $2.8B against $2.1B — 1.3× the size. Seabridge Gold Inc. has negative trailing earnings, so its P/E is not meaningful; DRDGOLD Limited trades at 151×. DRDGOLD Limited has the higher net margin (22.5% vs 0.00%) and the higher return on invested capital (0.00% vs −0.91%). Across the 12 metrics below, DRDGOLD Limited leads on 10 and Seabridge Gold Inc. on 2.

Valuation

Metric DRD SA Gold median
P/E 151.04 n/m 17.98
P/S 1.70 n/m 3.83
P/B 1.40 3.14 2.42
Price to free cash flow 4.18 n/m 15.50
EV/EBITDA 4.90 n/m 6.72
EV/Sales 1.44 n/m 3.73
Earnings yield 0.66% (1.88%) 1.19%
Free cash flow yield 23.94% (4.26%) 0.81%

Profitability

Metric DRD SA Gold median
Gross margin 26.89% — 49.13%
Operating margin 0.00% 0.00% 21.90%
Net margin 22.53% 0.00% 9.65%
Free cash flow margin 0.00% 0.00% 0.00%
Return on equity 0.00% (6.40%) 0.12%
Return on assets 0.00% (4.15%) 0.10%
Return on invested capital 0.00% (0.91%) 0.26%

Growth

Metric DRD SA Gold median
Revenue growth (TTM) (1.51%) — 68.15%
EPS growth (last fiscal year) 107.69% (46.15%) 60.15%
Revenue growth, 5-year CAGR 13.97% — 15.33%
Net income growth, 5-year CAGR 21.83% 0.00% 0.00%

Health

Metric DRD SA Gold median
Debt to equity 0.00 0.46 0.03
Current ratio 3.62 6.71 3.34
Net debt to EBITDA (0.44) (21.47) (0.15)

Dividend

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

Size

Metric DRD SA Gold median
Market cap 2.13b 2.75b 1.12b

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