Comstock Inc. (LODE) vs McEwen Inc. (MUX)

Comstock Inc. and McEwen Inc. are both Other Precious Metals & Mining companies. McEwen Inc. is the larger, with a market value of $1.1B against $194.5M — 5.9× the size. Comstock Inc. has negative trailing earnings, so its P/E is not meaningful; McEwen Inc. trades at 13.9×. McEwen Inc. grew revenue faster over the last twelve months: 47.7% against −69.1%. McEwen Inc. has the higher net margin (32.5% vs −6,011.8%) and the higher return on invested capital (5.28% vs −30.9%). Across the 18 metrics below, McEwen Inc. leads on 13 and Comstock Inc. on 5.

Valuation

Metric LODE MUX Other Precious Metals & Mining median
P/E n/m 13.88 18.01
P/S 191.25 4.59 7.00
P/B 1.38 1.61 2.46
Price to free cash flow n/m 180.05 58.16
EV/EBITDA n/m 12.70 12.47
EV/Sales 172.80 4.73 5.74
Earnings yield (40.23%) 7.20% 2.75%
Free cash flow yield (19.33%) 0.56% 0.51%

Profitability

Metric LODE MUX Other Precious Metals & Mining median
Gross margin (165.57%) 30.91% 39.51%
Operating margin (5,845.64%) 25.20% 25.20%
Net margin (6,011.76%) 32.46% 5.02%
Free cash flow margin (3,667.19%) 2.55% 2.55%
Return on equity (52.47%) 13.54% 13.37%
Return on assets (35.70%) 9.34% 3.84%
Return on invested capital (30.85%) 5.28% 5.28%

Growth

Metric LODE MUX Other Precious Metals & Mining median
Revenue growth (TTM) (69.07%) 47.73% 54.39%
EPS growth (last fiscal year) 63.55% 168.60% —
Revenue growth, 5-year CAGR 50.43% 13.52% 20.68%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LODE MUX Other Precious Metals & Mining median
Debt to equity 0.08 0.18 0.00
Current ratio 3.20 2.04 5.20
Net debt to EBITDA 0.15 1.73 0.28

Dividend

Metric LODE MUX Other Precious Metals & Mining median
Dividend yield — — 1.64%
Payout ratio 0.00 0.00 0.00

Size

Metric LODE MUX Other Precious Metals & Mining median
Market cap 194.54m 1.14b 1.03b

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