Oceanagold Corp. (OGC) vs Seabridge Gold Inc. (SA)

Oceanagold Corp. and Seabridge Gold Inc. are both Gold companies. Oceanagold Corp. is the larger, with a market value of $6.1B against $2.8B — 2.2× the size. Seabridge Gold Inc. has negative trailing earnings, so its P/E is not meaningful; Oceanagold Corp. trades at 7.1×. Oceanagold Corp. has the higher net margin (35.1% vs 0.00%) and the higher return on invested capital (33.7% vs −0.91%). Across the 13 metrics below, Oceanagold Corp. leads on 11 and Seabridge Gold Inc. on 2.

Valuation

Metric OGC SA Gold median
P/E 7.13 n/m 17.98
P/S 2.50 n/m 3.83
P/B 2.33 3.14 2.42
Price to free cash flow 8.32 n/m 15.50
EV/EBITDA 3.95 n/m 6.72
EV/Sales 2.25 n/m 3.73
Earnings yield 14.03% (1.88%) 1.19%
Free cash flow yield 12.02% (4.26%) 0.81%

Profitability

Metric OGC SA Gold median
Gross margin 64.20% — 49.13%
Operating margin 44.15% 0.00% 21.90%
Net margin 35.14% 0.00% 9.65%
Free cash flow margin 30.01% 0.00% 0.00%
Return on equity 36.27% (6.40%) 0.12%
Return on assets 27.12% (4.15%) 0.10%
Return on invested capital 33.68% (0.91%) 0.26%

Growth

Metric OGC SA Gold median
Revenue growth (TTM) 57.38% — 68.15%
EPS growth (last fiscal year) 247.97% (46.15%) 60.15%
Revenue growth, 5-year CAGR — — 15.33%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric OGC SA Gold median
Debt to equity 0.01 0.46 0.03
Current ratio 1.63 6.71 3.34
Net debt to EBITDA (0.45) (21.47) (0.15)

Dividend

Metric OGC SA Gold median
Dividend yield 0.65% — 0.79%
Payout ratio 0.05 — 0.15

Size

Metric OGC SA Gold median
Market cap 6.11b 2.75b 1.12b

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