Elemental Royalty Corp (ELE) vs Gold Royalty Corp. (GROY)

Elemental Royalty Corp and Gold Royalty Corp. are both Gold companies. Elemental Royalty Corp is the larger, with a market value of $1.2B against $720.5M — 1.7× the size. Elemental Royalty Corp has negative trailing earnings, so its P/E is not meaningful; Gold Royalty Corp. trades at 780×. Elemental Royalty Corp grew revenue faster over the last twelve months: 136.9% against 82.3%. Gold Royalty Corp. has the higher net margin (6.65% vs 4.01%) and the lower return on invested capital (0.52% vs 1.11%). Across the 18 metrics below, Elemental Royalty Corp leads on 11 and Gold Royalty Corp. on 7.

Valuation

Metric ELE GROY Gold median
P/E n/m 780.00 17.98
P/S 14.06 31.92 3.83
P/B 1.27 0.99 2.42
Price to free cash flow n/m n/m 15.50
EV/EBITDA 24.85 62.43 6.72
EV/Sales 12.82 31.30 3.73
Earnings yield (0.05%) 0.13% 1.19%
Free cash flow yield (3.09%) (8.24%) 0.81%

Profitability

Metric ELE GROY Gold median
Gross margin 66.08% 71.17% 49.13%
Operating margin 17.48% 26.32% 21.90%
Net margin 4.01% 6.65% 9.65%
Free cash flow margin (43.42%) 47.92% 0.00%
Return on equity 0.58% 0.23% 0.12%
Return on assets 0.50% 0.19% 0.10%
Return on invested capital 1.11% 0.52% 0.26%

Growth

Metric ELE GROY Gold median
Revenue growth (TTM) 136.91% 82.28% 68.15%
EPS growth (last fiscal year) 437.08% 0.00% 60.15%
Revenue growth, 5-year CAGR — 141.00% 15.33%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric ELE GROY Gold median
Debt to equity 0.00 0.00 0.03
Current ratio 5.48 4.80 3.34
Net debt to EBITDA (3.20) (3.24) (0.15)

Dividend

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

Size

Metric ELE GROY Gold median
Market cap 1.19b 720.53m 1.12b

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