enCore Energy Corp. (EU) vs Uranium Royalty Corp. (UROY)

enCore Energy Corp. and Uranium Royalty Corp. are both Uranium companies. Uranium Royalty Corp. is the larger, with a market value of $1.6B against $235.1M — 6.8× the size. enCore Energy Corp. has negative trailing earnings, so its P/E is not meaningful; Uranium Royalty Corp. trades at 10.8×. Uranium Royalty Corp. grew revenue faster over the last twelve months: 502.9% against 24.1%. Uranium Royalty Corp. has the higher net margin (25.9% vs −112.8%) and the higher return on invested capital (2.49% vs −11.2%). Across the 17 metrics below, Uranium Royalty Corp. leads on 15 and enCore Energy Corp. on 2.

Valuation

Metric EU UROY Uranium median
P/E n/m 10.77 —
P/S 4.36 3.03 16.46
P/B 0.98 0.60 3.35
Price to free cash flow n/m 3.14 —
EV/EBITDA n/m 17.98 —
EV/Sales 5.40 5.26 14.86
Earnings yield (26.61%) 9.29% (2.82%)
Free cash flow yield (26.89%) 31.89% (4.18%)

Profitability

Metric EU UROY Uranium median
Gross margin 10.76% 32.98% 23.65%
Operating margin (91.23%) 29.15% 0.00%
Net margin (112.82%) 25.88% 0.00%
Free cash flow margin (115.39%) 97.04% 0.00%
Return on equity (23.08%) 8.48% (11.34%)
Return on assets (16.06%) 5.21% (8.14%)
Return on invested capital (11.19%) 2.49% (4.64%)

Growth

Metric EU UROY Uranium median
Revenue growth (TTM) 24.09% 502.87% 43.30%
EPS growth (last fiscal year) 11.76% 1,066.67% —
Revenue growth, 5-year CAGR — — —
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric EU UROY Uranium median
Debt to equity 0.45 0.54 0.45
Current ratio 8.00 0.88 9.41
Net debt to EBITDA (0.25) (6.08) 1.94

Dividend

Metric EU UROY Uranium median
Dividend yield — — —
Payout ratio — 0.00 0.00

Size

Metric EU UROY Uranium median
Market cap 235.08m 1.59b 2.40b

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