Royal Gold, Inc. (RGLD) vs Silver Standard Resources Inc. (SSRM)

Royal Gold, Inc. and Silver Standard Resources Inc. are both Gold companies. Royal Gold, Inc. is the larger, with a market value of $21.4B against $7.3B — 2.9× the size. Royal Gold, Inc. trades at the lower P/E: 27.5× against 30.8×. Royal Gold, Inc. grew revenue faster over the last twelve months: 93.5% against 48.4%. Royal Gold, Inc. has the higher net margin (47.8% vs 12.3%) and the lower return on invested capital (7.57% vs 27.2%). Both pay a dividend; Silver Standard Resources Inc. yields more (2.93% vs 1.38%). Across the 23 metrics below, Silver Standard Resources Inc. leads on 12 and Royal Gold, Inc. on 11.

Valuation

Metric RGLD SSRM Gold median
P/E 27.53 30.78 23.34
P/S 13.84 3.84 5.02
P/B 2.80 2.19 3.53
Price to free cash flow 16.35 23.16 16.73
EV/EBITDA 17.33 7.37 8.34
EV/Sales 14.01 3.05 4.92
Earnings yield 3.63% 3.25% 1.44%
Free cash flow yield 6.12% 4.32% 0.75%

Profitability

Metric RGLD SSRM Gold median
Gross margin 86.90% 62.63% 50.00%
Operating margin 61.42% 35.11% 26.32%
Net margin 47.76% 12.30% 12.30%
Free cash flow margin 67.51% 16.59% 0.00%
Return on equity 13.49% 6.36% 6.36%
Return on assets 11.35% 4.72% 0.00%
Return on invested capital 7.57% 27.23% 0.52%

Growth

Metric RGLD SSRM Gold median
Revenue growth (TTM) 93.51% 48.40% 68.15%
EPS growth (last fiscal year) 32.74% 243.41% —
Revenue growth, 5-year CAGR 10.84% 13.82% 16.12%
Net income growth, 5-year CAGR 9.08% 21.17% 0.00%

Health

Metric RGLD SSRM Gold median
Debt to equity 0.05 0.00 0.10
Current ratio 2.92 9.79 3.08
Net debt to EBITDA 0.81 (0.36) 0.00

Dividend

Metric RGLD SSRM Gold median
Dividend yield 1.38% 2.93% 1.49%
Payout ratio 0.42 0.35 0.00

Size

Metric RGLD SSRM Gold median
Market cap 21.44b 7.30b 1.96b

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