Gold Royalty Corp. (GROY) vs i-80 Gold Corp. (IAUX)

Gold Royalty Corp. and i-80 Gold Corp. are both Gold companies. i-80 Gold Corp. is the larger, with a market value of $1.3B against $681.2M — 1.9× the size. i-80 Gold Corp. has negative trailing earnings, so its P/E is not meaningful; Gold Royalty Corp. trades at 745×. Gold Royalty Corp. grew revenue faster over the last twelve months: 82.3% against 69.7%. Gold Royalty Corp. has the higher net margin (6.65% vs −198.8%) and the higher return on invested capital (0.52% vs −38.1%). Across the 17 metrics below, Gold Royalty Corp. leads on 13 and i-80 Gold Corp. on 4.

Valuation

Metric GROY IAUX Gold median
P/E 745.00 n/m 22.25
P/S 30.49 10.13 4.90
P/B 0.95 5.11 2.65
Price to free cash flow n/m n/m 17.98
EV/EBITDA 59.57 n/m 6.74
EV/Sales 29.87 9.99 4.80
Earnings yield 0.13% (19.61%) 1.54%
Free cash flow yield (8.63%) (14.10%) 0.92%

Profitability

Metric GROY IAUX Gold median
Gross margin 71.17% 26.42% 50.00%
Operating margin 26.32% (112.12%) 26.32%
Net margin 6.65% (198.82%) 12.30%
Free cash flow margin 47.92% (142.86%) 0.00%
Return on equity 0.23% (71.66%) 0.00%
Return on assets 0.19% (26.43%) 0.00%
Return on invested capital 0.52% (38.09%) 0.52%

Growth

Metric GROY IAUX Gold median
Revenue growth (TTM) 82.28% 69.73% 68.15%
EPS growth (last fiscal year) 0.00% 11.76% 50.00%
Revenue growth, 5-year CAGR 141.00% — 16.12%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GROY IAUX Gold median
Debt to equity 0.00 1.73 0.10
Current ratio 4.80 8.63 3.08
Net debt to EBITDA (3.24) (0.92) 0.00

Dividend

Metric GROY IAUX Gold median
Dividend yield — — 0.87%
Payout ratio — — 0.15

Size

Metric GROY IAUX Gold median
Market cap 681.15m 1.32b 1.62b

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