McEwen Inc. (MUX) vs Solaris Resources Inc. (SLSR)

McEwen Inc. and Solaris Resources Inc. are both Other Precious Metals & Mining companies. Solaris Resources Inc. is the larger, with a market value of $1.2B against $912.4M — 1.3× the size. Solaris Resources Inc. has negative trailing earnings, so its P/E is not meaningful; McEwen Inc. trades at 11.3×. McEwen Inc. has the higher net margin (32.5% vs 0.00%) and the higher return on invested capital (5.28% vs 0.00%). Across the 13 metrics below, McEwen Inc. leads on 9 and Solaris Resources Inc. on 4.

Valuation

Metric MUX SLSR Other Precious Metals & Mining median
P/E 11.30 n/m 15.38
P/S 3.74 n/m 6.07
P/B 1.31 n/m 2.35
Price to free cash flow 146.54 195.09 29.52
EV/EBITDA 10.41 n/m 10.46
EV/Sales 3.88 n/m 5.03
Earnings yield 8.85% (2.55%) 4.09%
Free cash flow yield 0.68% 0.51% 0.37%

Profitability

Metric MUX SLSR Other Precious Metals & Mining median
Gross margin 30.91% — 46.03%
Operating margin 25.20% 0.00% 21.00%
Net margin 32.46% 0.00% 8.13%
Free cash flow margin 2.55% 0.00% 1.08%
Return on equity 13.54% 75.94% 8.66%
Return on assets 9.34% (34.04%) 5.12%
Return on invested capital 5.28% 0.00% 0.32%

Growth

Metric MUX SLSR Other Precious Metals & Mining median
Revenue growth (TTM) 47.73% — 51.22%
EPS growth (last fiscal year) 168.60% 46.94% 90.00%
Revenue growth, 5-year CAGR 13.52% — 23.71%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric MUX SLSR Other Precious Metals & Mining median
Debt to equity 0.18 (0.01) 0.00
Current ratio 2.04 8.42 5.63
Net debt to EBITDA 1.73 0.66 0.52

Dividend

Metric MUX SLSR Other Precious Metals & Mining median
Dividend yield — — 1.17%
Payout ratio — — —

Size

Metric MUX SLSR Other Precious Metals & Mining median
Market cap 912.40m 1.17b 845.16m

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