Elemental Royalty Corp (ELE) vs Mako Mining Corp. (MAKO)

Elemental Royalty Corp and Mako Mining Corp. are both Gold companies. Elemental Royalty Corp is the larger, with a market value of $1.2B against $685.1M — 1.7× the size. Elemental Royalty Corp has negative trailing earnings, so its P/E is not meaningful; Mako Mining Corp. trades at 13.0×. Elemental Royalty Corp grew revenue faster over the last twelve months: 136.9% against 81.7%. Mako Mining Corp. has the higher net margin (25.1% vs 4.01%) and the higher return on invested capital (67.3% vs 1.11%). Across the 17 metrics below, Mako Mining Corp. leads on 11 and Elemental Royalty Corp on 6.

Valuation

Metric ELE MAKO Gold median
P/E n/m 13.03 17.98
P/S 14.06 3.31 3.83
P/B 1.27 3.63 2.42
Price to free cash flow n/m 12.16 15.50
EV/EBITDA 24.85 6.17 6.72
EV/Sales 12.82 2.80 3.73
Earnings yield (0.05%) 7.67% 1.19%
Free cash flow yield (3.09%) 8.22% 0.81%

Profitability

Metric ELE MAKO Gold median
Gross margin 66.08% 53.27% 49.13%
Operating margin 17.48% 40.31% 21.90%
Net margin 4.01% 25.11% 9.65%
Free cash flow margin (43.42%) 27.18% 0.00%
Return on equity 0.58% 36.63% 0.12%
Return on assets 0.50% 23.82% 0.10%
Return on invested capital 1.11% 67.34% 0.26%

Growth

Metric ELE MAKO Gold median
Revenue growth (TTM) 136.91% 81.74% 68.15%
EPS growth (last fiscal year) 437.08% 56.04% 60.15%
Revenue growth, 5-year CAGR — — 15.33%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric ELE MAKO Gold median
Debt to equity 0.00 0.00 0.03
Current ratio 5.48 3.11 3.34
Net debt to EBITDA (3.20) (1.26) (0.15)

Dividend

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

Size

Metric ELE MAKO Gold median
Market cap 1.19b 685.11m 1.12b

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