Comstock Inc. (LODE) vs Versamet Royalties Corporation (VMET)

Comstock Inc. and Versamet Royalties Corporation are both Other Precious Metals & Mining companies. Versamet Royalties Corporation is the larger, with a market value of $971.9M against $130.7M — 7.4× the size. Comstock Inc. has negative trailing earnings, so its P/E is not meaningful; Versamet Royalties Corporation trades at 23.0×. Versamet Royalties Corporation grew revenue faster over the last twelve months: 404.4% against −52.2%. Versamet Royalties Corporation has the higher net margin (49.9% vs −3,680.3%) and the higher return on invested capital (5.49% vs −29.0%). Across the 17 metrics below, Versamet Royalties Corporation leads on 13 and Comstock Inc. on 4.

Valuation

Metric LODE VMET Other Precious Metals & Mining median
P/E n/m 23.03 14.87
P/S 99.00 13.05 6.67
P/B 0.93 2.45 2.34
Price to free cash flow n/m 19.49 35.79
EV/EBITDA n/m 16.66 10.70
EV/Sales 78.84 17.93 5.61
Earnings yield (42.20%) 4.34% 4.15%
Free cash flow yield (29.06%) 5.13% 0.38%

Profitability

Metric LODE VMET Other Precious Metals & Mining median
Gross margin 0.00% 54.74% 46.03%
Operating margin (3,535.03%) 89.51% 21.00%
Net margin (3,680.29%) 49.92% 8.13%
Free cash flow margin (2,351.30%) 66.95% 1.08%
Return on equity (37.24%) 12.17% 8.66%
Return on assets (27.24%) 7.00% 5.12%
Return on invested capital (28.96%) 5.49% 0.32%

Growth

Metric LODE VMET Other Precious Metals & Mining median
Revenue growth (TTM) (52.20%) 404.44% 47.73%
EPS growth (last fiscal year) 63.55% 754.21% 90.00%
Revenue growth, 5-year CAGR 50.43% — 23.71%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric LODE VMET Other Precious Metals & Mining median
Debt to equity 0.00 0.95 0.00
Current ratio 3.31 0.71 5.58
Net debt to EBITDA 0.15 3.72 0.52

Dividend

Metric LODE VMET Other Precious Metals & Mining median
Dividend yield — — 1.17%
Payout ratio — — —

Size

Metric LODE VMET Other Precious Metals & Mining median
Market cap 130.71m 971.85m 860.59m

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