Oceanagold Corp. (OGC) vs OR Royalties Inc. (OR)

Oceanagold Corp. and OR Royalties Inc. are both Gold companies. Oceanagold Corp. and OR Royalties Inc. are of similar size ($6.6B and $6.1B). Oceanagold Corp. trades at the lower P/E: 7.1× against 23.4×. OR Royalties Inc. grew revenue faster over the last twelve months: 69.5% against 57.4%. OR Royalties Inc. has the higher net margin (78.0% vs 35.1%) and the lower return on invested capital (10.8% vs 33.7%). Both pay a dividend; OR Royalties Inc. yields more (0.68% vs 0.65%). Across the 21 metrics below, Oceanagold Corp. leads on 12 and OR Royalties Inc. on 9.

Valuation

Metric OGC OR Gold median
P/E 7.13 23.43 17.98
P/S 2.50 18.31 3.83
P/B 2.33 4.48 2.42
Price to free cash flow 8.32 46.65 15.50
EV/EBITDA 3.95 21.58 6.72
EV/Sales 2.25 19.32 3.73
Earnings yield 14.03% 4.27% 1.19%
Free cash flow yield 12.02% 2.14% 0.81%

Profitability

Metric OGC OR Gold median
Gross margin 64.20% 84.85% 49.13%
Operating margin 44.15% 77.18% 21.90%
Net margin 35.14% 78.03% 9.65%
Free cash flow margin 30.01% 83.58% 0.00%
Return on equity 36.27% 20.41% 0.12%
Return on assets 27.12% 17.17% 0.10%
Return on invested capital 33.68% 10.78% 0.26%

Growth

Metric OGC OR Gold median
Revenue growth (TTM) 57.38% 69.51% 68.15%
EPS growth (last fiscal year) 247.97% 1,111.11% 60.15%
Revenue growth, 5-year CAGR — 11.71% 15.33%
Net income growth, 5-year CAGR — 74.88% 0.00%

Health

Metric OGC OR Gold median
Debt to equity 0.01 0.14 0.03
Current ratio 1.63 2.28 3.34
Net debt to EBITDA (0.45) (0.61) (0.15)

Dividend

Metric OGC OR Gold median
Dividend yield 0.65% 0.68% 0.79%
Payout ratio 0.05 0.16 0.15

Size

Metric OGC OR Gold median
Market cap 6.11b 6.56b 1.12b

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