Harmony Gold Mining Company Limited (HMY) vs OR Royalties Inc. (OR)

Harmony Gold Mining Company Limited and OR Royalties Inc. are both Gold companies. Harmony Gold Mining Company Limited is the larger, with a market value of $11.8B against $6.7B — 1.8× the size. OR Royalties Inc. trades at the lower P/E: 23.7× against 58.2×. OR Royalties Inc. grew revenue faster over the last twelve months: 69.5% against 6.90%. OR Royalties Inc. has the higher net margin (78.0% vs 3.80%) and the higher return on invested capital (10.8% vs 0.00%). Both pay a dividend; Harmony Gold Mining Company Limited yields more (1.42% vs 1.10%). Across the 23 metrics below, OR Royalties Inc. leads on 15 and Harmony Gold Mining Company Limited on 8.

Valuation

Metric HMY OR Gold median
P/E 58.23 23.71 23.34
P/S 2.19 18.53 5.02
P/B 3.85 4.53 3.53
Price to free cash flow 12.16 47.20 16.73
EV/EBITDA 10.61 21.12 8.34
EV/Sales 2.24 18.91 4.92
Earnings yield 1.72% 4.22% 1.44%
Free cash flow yield 8.23% 2.12% 0.75%

Profitability

Metric HMY OR Gold median
Gross margin 15.43% 84.85% 50.00%
Operating margin 0.00% 77.18% 26.32%
Net margin 3.80% 78.03% 12.30%
Free cash flow margin 0.00% 83.58% 0.00%
Return on equity 0.00% 20.41% 6.36%
Return on assets 0.00% 17.17% 0.00%
Return on invested capital 0.00% 10.78% 0.52%

Growth

Metric HMY OR Gold median
Revenue growth (TTM) 6.90% 69.51% 68.15%
EPS growth (last fiscal year) 117.46% 1,111.11% —
Revenue growth, 5-year CAGR 16.64% 11.71% 16.12%
Net income growth, 5-year CAGR 39.26% 74.88% 0.00%

Health

Metric HMY OR Gold median
Debt to equity 0.25 0.14 0.10
Current ratio 0.54 2.28 3.08
Net debt to EBITDA 0.00 (0.61) 0.00

Dividend

Metric HMY OR Gold median
Dividend yield 1.42% 1.10% 1.49%
Payout ratio 0.03 0.51 0.00

Size

Metric HMY OR Gold median
Market cap 11.82b 6.66b 1.96b

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